Successful bids. Rapaport will inform successful Buyers of their purchase no later than three business days after Auction Close.
Successful bids. 5.1.1 Clan Cancer Support will complete an Auction Sheet for each successful Bid of the Auction and a copy of this will be given to each successful Bidder on the night of the auction. The Auction Sheet will show the Hammer Price to be paid and identify the Lot purchased. It will also confirm your Paddle Number / Bidder ID. The Auction Sheet is for information only and is not an invoice.
Successful bids. After securing a contract in Quebec, but before performing construction work, contractors with the appropriate licence must:
Successful bids. The highest com- plying bid meeting the minimum es- tablished price will be accepted by the approval official; however, it will be subject to loan approval by the appro- priate official when a credit sale is in- volved. For SFH and FP (surplus prop- erty) sales, preference will be given to a cash offer on NP or surplus property sales which is at least ll*ll percent of the highest offer requiring credit [*Refer to Exhibit B of RD Instruction 440.1 (available in any Rural Develop- ment office) for the current percent- age.] Otherwise, equal bids will be ac- cepted by public lot drawing. For pro- gram or suitable property sales, no preference will be given to program purchasers unless two identical high bids are received, in which case the bid from the program purchaser will re- ceive preference. If a bid is received from any purchaser with a request for credit that (considering any deposit) exceeds the market value of the prop- erty or requests a term which exceeds the period for which the property will serve as adequate security, the bidder will be given the opportunity to reduce the credit request and/or term with no accompanying change in the offered price.
Successful bids. The successful bidder must sign the sale contract and pay you a deposit on the spot (usually 10 per cent). There is no cooling-off period for anyone who buys a property at auction. If the property is passed in at auction but contracts are exchanged on that same day, the cooling-off period still does not apply. Contract exchange Exchanging sale contracts is the legal part of selling a home. There will be two copies of the sale contract: one for you and one for the buyer. You each sign one copy before they are swapped or ‘exchanged’. This can be done by hand or post and is usually arranged by your solicitor, conveyancer or the agent. At the time of the exchange, the buyer will be required to pay a deposit, usually 0.25% of the purchase price. The contract exchange is a critical point in the sale process for several reasons: • The buyer or seller is not legally bound until signed copies of the contract are exchanged. • Buyers of residential property usually have a cooling off period of five working days following the exchange of contracts during which they can withdraw from the sale. • If the agent arranges exchange of contacts, the agent must give copies of the signed contract to each party or their solicitor or conveyancer within two business days. • The cooling off period can be waived, reduced or extended by negotiation. • There is no cooling off period for sellers. Once contracts have been exchanged, sellers are generally bound to complete the agreement. • There is no cooling off period when purchasing at auction.
