HOME OPEN FOR INSPECTION

OPEN HOUSE THIS SATURDAY

MAY 2ND 1-4 PM

VIDEO TOURS AVAILABLE

https://www.youtube.com/watch?v=CNBANhrUZkA

https://www.youtube.com/watch?v=UOZQ4peOni8

CONTACT INFORMATION

AGENT: RACHEL CAHILL 469-712-5872 RACHEL@RACHELCAHILL.COM

DIRECTIONS TO THE PROPERTY

From 121, take Alma north, then turn west on Stacy. Take the next right at the large water feature onto Desert Falls Drive. Take the 3rd left onto Desert Dunes Trail. House is about halfway down the second block on the right side.

PARKING: Parking at the house will be an issue. DO NOT block the road. DO NOT park in front of neighbors driveways. Be considerate and park along the greenbelt on Twin Oaks Dr or park around Riverwalk Park

The home will be open for inspection on Sat, May 2nd from 1 PM to 4 PM CST.

Getting involved in the bidding process is simple. Anyone interested in participating in the Round Robin Bidding Process to purchase the home must both inspect the home and leave a bid on the Initial Bidding Sheet by 5 pm Sunday evening. The Initial Bidding Sheet is available for all parties to see. NOTE: Bids made on the Initial Bidding Sheet only indicate an interest in the property and DO NOT obligate the bidder in any way.

The bid can be withdrawn at anytime. Bidding closes at 5 pm CST on Sunday, May 3, 2020.

MUST SELL THIS WEEKEND!

Here's how the final round robin bidding process works

The actual sale will happen in the form of a Round Robin Bidding process is held by phone and will begin on Sunday Evening at 7:00 pm. The Round Robin bidding process will be conducted by the agent representing the seller. Only those potential buyers who leave a bid on the Initial Bidding Sheet will be called and allowed to participate in the Round Robin Bidding.

When the Round Robin bidding opens, we will call the person who made the highest bid on the Initial Bidding Sheet first. Then, each bidder will receive a call informing them of the highest bid and offering them the opportunity to increase their bid and proceed to the next round of bidding. We will conduct several rounds in this manner until there is only one bidder left. We will call the top bidder and let them know the bidding has begun. Then we call the other bidders one after the other.

Here are the options the bidders have when we contact them.

1. Raise your current above the highest bidder by at least $500 to stay in the bidding.

2. Retire from the bidding process.

We will offer the home to the highest/best bidder at his or her highest bid price. When the highest / best bidder is determined, the buyer and seller will agree to make an appointment to complete a standard Texas Real Estate Commission (TREC) Contract. The contract will give the buyer an ample period of time to inspect the property, get an appraisal and complete any other steps necessary to complete the purchase of the home. The closing date will normally be set 30-60 days (or whatever is negotiated in the contract) from the signing date of the contract.

If the highest/best bidder does not meet the conditions of the terms-of-sale or fails to provide credible ability to purchase the home-the home will immediately be offered to the next highest/best bidder at his or her final bid price.

This is an open bidding process and we will tell anyone what the highest bid is at any time. Every bidder will have the opportunity to top the current bid until highest & best bidder is established. The sellers have sole & absolute discretion to determine highest & best bid. The highest/best bidder gets the home at his or her highest bid price.

This is a sale with a Minimum Reserve.

All bids placed at the open house are not legally binding and can be withdrawn at any time. After the final bidding process is over a winning bidder will be determined. They will fill out an agreement with the price and terms agreed upon Monday after the open house.

If the highest and best bidder does not meet the conditions of the terms-of-sale or is unable to get financing to purchase the home-the home will be offered to the next highest/best bidder at his or her final bid price.

The homeowners and buyers have the right to decide not to execute a contract (acceptable to the owner) at anytime before an agreement has been signed. This is a sale with a Minimum Reserve. Owner may or may not accept offers below a set Reserve Price. Back-up purchase agreements will be accepted.

For the Buyer’s protection: Your bids are not legally binding contracts and can be withdrawn at anytime.

For the Owner’s protection: The owners in their sole and absolute discretion have the right to reject for no reason or any reason whatsoever, any bid at any time prior to the execution of a contract by and between the successful bidder and owner.

• Back-up purchase agreements will be accepted.

• As with any other Texas Real Estate Contact, Earnest Money and Option Money will be required at the time of the signed contract Monday morning (check property details for specific amounts).

• The Seller may cooperate with a buyer’s Real Estate Agent. See Terms of Sale on the Property page for details.

• This is a sale with a Minimum Undisclosed Reserve.

CONTRACT: On Monday, the day after the bidding process, contact will be made with the highest/best bidder. The purpose of the contact will be to execute the purchase agreement and accept an earnest money deposit, which will be held in escrow with the title company. The purchase agreement will be in the form of a Texas Real Estate Commission 1-4 Family Resale Contract and such contract shall govern all rights, duties and obligations of the parties. Terms of the contract shall supersede any terms to the contrary contained herein. Failure by the initial successful bidder to sign the purchase agreement and deposit the earnest money by the end of Monday, the day after the sale, will disqualify that bidder. If the highest bidder is disqualified, the next bidder will be notified immediately.

PURCHASER QUALIFICATION: Bidders must initiate financing on this home, if applicable, within 24 hours of contract. Proof of the bidder's ability to pay the purchase price, and/or qualify for financing, must be in the form of a written letter of qualification from a financial institution. Purchaser should plan on conducting the closing within 30 days and no longer than 45 days of the open house.

Should the highest bidder fail to show his or her ability to pay the purchase price, or meet the requirements for deposit and financing proof, or prove unable to close this sale within the specified period, the owner reserves the right to terminate the sale process and offer the property to the next highest bidder under the same stipulations. Until a contract is signed, the owner reserves the right to reject any or all bids and terminate the sale process at any time without explanation to any potential buyer.

CLOSING COSTS: All closing cost is at buyer's expense unless otherwise specified. Owner is responsible only for payment of state & local conveyance taxes, and shall provide a “Title Commitment". Taxes for current year shall be prorated. The parties will follow the standard expense allocations as provided in the real estate contract. Buyer may obtain complete current home inspection report to successful bidder. Any information contained in the inspection report is for buyer's information only because the seller is selling the home "as is."

SALES INFORMATION/POSTPONEMENT/CANCELLATION: Owner, in its sole and absolute discretion, hereby reserves the right to postpone, cancel the sale for any reason or no reason whatsoever, including without limitation due to illness, foul weather or force majeure. In any event, the sale may be cancelled altogether or postponed to an alternative weekend. Notice will be given to all, so we encourage you to call leaving your name and phone number specifically for this purpose. This is a sale with a Minimum Reserve. Owner may or may not accept offers below the Reserve price.