“How to Buy at Auction” seminars to be held this Saturday and Sunday at City Place, across from MainPlace Mall, demonstrate the simultaneous process that will be used when the final 34 City Place townhomes and live/work lofts are auctioned on Sunday, March 27, 2011.
With starting bids from as low as $295,000 and no hidden minimums or reserves, this builder close-out event will utilize the innovate Intellimarket™ system to ensure maximum bidding flexibility and none of the traditional, high-pressure auction practices.
State-of-the-art, proprietary software, created by Caltech Professor Dr. Charles Plott, allows for all of the residences to be presented, all at the same time, thus establishing a fully informed, transparent and open marketplace.
While watching the bidding activity on large screen monitors, participants can evaluate their positions and, if outbid, either raise the amount or bid on a different residence. With every new bid, the auction clock resets, eliminating any “last-minute” bidding ploys. Ample time is provided for
decision making and the auction ends only when no bid has been submitted on any property for a pre-specified period.
A key step in the “How to Buy at Auction” process is pre-qualifying with the builder’s preferred lender – either Bank of America or Wells Fargo. There are no costs or obligation. Along with excellent financing programs, both preferred lenders are offering $1,500 in discounts on closing costs. There is an additional $1,000 builder incentive for those who close prior to April 29.
Excellent financing at today’s low rates underscores the timeliness of this close-out auction opportunity. Low homeowners association dues and no Mello Roos assessments make these residences even more affordable. A 2.5% broker co-operation is being extended to qualified agents who accompany their clients on their first visit.
During the “How to Buy” seminars, attendees are shown how to maximize their opportunities by considering and prioritizing all of their preferences. With 34 residences offered, the selection includes 23 brownstone-inspired townhomes and 11
City Place holds How to Buy at Auction seminars this weekend
urban-styled live/work lofts. All of the homes feature two-car or tandem garages with direct home access and automatic door openers, chef-friendly kitchens with stainless steel appliances, and space for washers and dryers.
Enabling homeowners to live where they work and work where they live, The Lofts designs are distinguished by first floor office or business space with street frontage in most locations and the added convenience of a full, first-floor bathroom. Second floor living and entertaining areas are augmented by third floor master suites. These Lofts homes measure from approximately 1,595 to 1,825 in total square feet.
Encompassing from approximately 1,819 to 2,494 square feet, The Parks townhomes are available in four distinctive arrangements that offer two or three bedrooms and, in most homes, extra loft areas. For those who prefer casual entertaining and dining, some plans are keynoted by great room configurations, while others separate the living rooms on a different level from the dining areas and
A close-out auction on March 27, 2011 will present the final call on 34 residences with starting bids from $295,000.
kitchens. Gas fireplaces and upstairs tech centers further distinguish the pluses to be appreciated.
To learn more about the innovative simultaneous auction process, attend a “How to Buy at Auction” seminar and tour all 34 residences to be offered during this final, builder close-out auction, the City Place Auction Office and homes are open weekdays from 11 a.m. until 7 p.m. and on weekends from 10 a.m. until 6 p.m.
For further assistance and directions, call 714.953.1353, or visit the website at www.CityPlaceAuction.com.
