This area, deposit amount, usually 10% of expected sale price has to be deposited in form of cashiers check with the auctioneer BEFORE the start of the sale as a condition of bidding. Unsuccessful bidders are given their check back after sale. This lady needed an attorney a month ago. Here in the upper mid-west, auctions tend to sell things well for the owner. Some other places, not so well. A person needs to know their market. Any real estate deal, money should be in bank before keys are handed over. When I bought my current place, I needed to move before we could possibly close on the deal. Convinced the seller to rent for two months, cash upfront, house was empty anyway so it wasn't a big deal to them. Yes it cost me a bit more, but was better than living in a snow bank!
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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