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How to Bid | Buying Process | Financing | FAQs

The H&M Buying Process

find-a-property-iconFind a Property
Search our inventory to find properties that meet your needs. Click on one of the following links for some tips to assist you in your search:
Map Search | Property Search | Radius Search
secure-financing-iconSecure Financing
Cash or Finance? Knowing in advance can help you determine what you can afford to bid on your next home. It is important to get prequalified early in the buying process. If you plan on securing financing for a property and cannot close escrow within the terms stipulated by the seller (typically 30 to 45 days from seller execution of the purchase and sale agreement) you will lose your down payment. You will be required to provide current proof of funds or a loan commitment upon being identified as a successful bidder. For lending institutions that have assisted our buyers in the past, click here.
property-inspections-iconProperty Inspections

Each property sold during a Hudson & Marshall auction is sold “AS-IS, WHERE-IS” which means viewing the property before the auction is very important. With the exception of properties that are Occupied (and in other rare cases) Hudson & Marshall properties are available for viewing before the auction either by making an appointment with the agent or during scheduled open houses. Open houses typically take place the weekend before the auction. Refer to the Property Details page for information about a specific open house. In most cases you may also use a licensed real estate agent to help you through the process at no cost. Commission paid varies by property and by seller.

When viewing a property isn’t possible, the listing agent may be able to provide additional information. In addition to the internet, a visit to the local public records office may prove beneficial. Tour the neighborhood, talk with adjacent property owners and local businesses. Determine the short- and long-term potential of the property and decide what the property is worth to you. Having a price range in mind based off the information you have gathered will help tremendously on auction day.

auction-checklist-iconAuction Checklist
Whether bidding in an online or live auction, you will need the following:
  • Your short list of homes and their Hudson & Marshall property numbers.
  • Valid government-issued picture ID.
  • Certified funds – Refer to your property of interest for Earnest Money requirements.
  • Proof of funds – If paying cash at close you’ll need your most recent bank statement. If financing, you’ll need your loan commitment documents on bank or lender letterhead.
  • Articles of incorporation, trust documentation or other proof of signing authority (for those taking title in a company name or trust only).
  • If you are bidding on behalf of someone, you must provide a notarized specific power of attorney authorizing you to bid and execute documents for the purchaser for their specified properties of interest.
  • Unless the property is marked ABSOLUTE, the property is being sold with a RESERVE and is SUBJECT TO SELLER CONFIRMATION, meaning that the Seller reserves the right to accept, counter, or reject the winning bidder’s high bid.
live-auction-tips-iconLive Auction Tips
  • Check the website the day of the auction before you head out to ensure the properties you want are still available.
  • Arrive early to ensure you get a seat.
  • Pick up your registration packet at the registration table.
  • Review Auction Updates; i.e. Removals or Late Additions.
  • Introduce yourself to the bid assistant in the section where you sit. The assistant is there to help you during the auction.

The action moves fast at a live auction. Hudson & Marshall bid assistants will help relay your bids to the auctioneer and answer your questions. Before the auction, tell your bid assistant which property (or properties) you're interested in. When that property comes up for auction, the assistant will look to you for bids. Each time a bid is recognized from another person you must decide whether or not to continue bidding. If your answer is yes, hold your bidder card or your hand in the air. Do not hesitate to call out to the bid assistant or to the auctioneer if you don't think they have noticed you. Make your decisions obvious.
questions-iconQuestions?
View our FAQs or contact our auction office at 866.539.4173.
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