CREDIT SALES

If the high bid on an item is more than $5,000.00, the successful bidder has the option to pay for the property as follows:

A deposit of ten percent (10%) of the purchase price or $5,000.00, whichever is greater, must be made at the time of the sale.

For sales between $5,000.00 and $50,000.00, a minimum of $5,000.00 must be deposited.
For sales over $50,000.00 a minimum of ten percent (10%) of the sale price must be deposited.

The remaining balance of the purchase price is due within thirty (30) days of the auction date, Monday, March 24, 2008. Payment must be in one of the acceptable forms and be received in our office prior to the deadline. Acceptable forms of payment are Cash (or Wire), Money Order, Traveler's check, or Cashier's/Certified Check. Title to the property will not be transferred until the total bid price plus the Documentary Transfer Tax is received. All purchases must be paid in full on, or before Monday, March 24, 2008. If the buyer fails to pay the full amount by 5:00 p.m. on Monday, March 24, 2008, the deposit and all rights to the property are forfeited (Revenue and Taxation Code Section 3693.1).