All Registered Bidders will be Guaranteed Financing... closing in as few as 3 days
Jacksonville Beach, FL (PRWEB) June 05, 2011
Despite today's glut of fantastic real estate purchase opportunities, many buyers have been held back by a lack of credit financing. In a revolutionary move, MyNextAuction.com is bringing Guaranteed Financing to every registered bidder starting in July at all their Absolute Auctions in Florida.
The financing deals even extend to the tsunami of Americans that have suffered foreclosure credit loss. Most of these families otherwise have perfect credit. Now in FL, all credit victims are eligible to purchase at Absolute Auction. The first property to go on the auction block will be a luxury ocean front condo in Jacksonville Beach, FL.
The first 4600 sq ft luxury residence in the heart of the beaches has a stunning oceanfront view. Interest on the purchase loan will be set at 5% APR. Full details are available online at MyNextAuction.com. Bidders must register in advance to qualify. Bidders can bid live in person or online during this guaranteed financing auction.
In the face of reserve and hanky-panky minimum bid auctions, this new format turns the industry on its heels. Whether the final bid is $1 or $1Million dollars, the luxury villas will be sold to the highest bidders. With 30% down, the highest bidders can expect to close and occupy a home in approximately 72 hours following the auction.
The purchase financing is not 'subject to bank or seller approvals' of the bid-price. The highest bidder will take it all. What's more, financing is guaranteed to all bidders that abide by the terms of the auction.
Frequently, banks use firms like REDC and other national auction houses to present what look like huge real estate liquidations. In fact, their low advertised minimum opening bids have little or nothing to do with the actual reserve or selling price set by the bank.
In a true absolute auction of real estate, the highest bidder is the buyer - and the seller has agreed in advance of the auction to transfer title regardless of the final bid price. Nicholas Varzos of Exclusively Auctions created this concept in Baltimore MD with a progressive seller that simply wanted to move his property in an otherwise static sales market.
Varzos says his sellers are prepared, capable, and ready to sell. All properties are free and clear from mortgage debt. They are virtually brand new. What's more, all the sellers believe in market equalities. Nicholas Varzos of MyNextAuction.com, AU2550 will represent the auction in Florida.
For more information about this important new twist on absolute auctions of real estate in Florida, contact Nicholas Varzos at (888) 826-7310 as soon as possible.