ED BiD PROPERTIES : How do you Bid in a Public Auction Sales at High Court, Real Estate, Penang Property

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 16, 2010 -- Bidders must be above 18 years of age.

Bidders must be present at the Auction place at least thirty (30) minutes prior the the auction.

Individual bidders are required to prepare the following items to qualify for an auction sale at the high court:-

(1) a cashier's order or banker draft with the 10% earnest deposit of the reserve price;

(2) a photocopy of the bidder's identification card;

(3) an envelope size 4x9 (write the A/E number on the top right corner)

Company bidders are required to prepare the following items to qualify for an auction sale at the high court:-

(1) a cashier's order or banker draft with the 10% of the reserve price along;

(2) a photocopy of the bidder's identification card;

(3) an envelope size 4x9 (write the A/E number on the top right corner);

(4) documents to prove ownership of the Company (form 49, etc.)

*If an individual or company bidder is unable to be present on the auction day and wish to appoint a representative to do the bidding, an additional letter is required:-

(5) an authorization letter stating the representative's name and identification card number along with the maximum bidding amount the person is allowed to make.

Bidders who wish to bid the an auction property must have read the Conditions of Sales and have understood its contents.

By participating in the bidding, bidders acknowledge acceptance of the terms and conditions of sales. The highest bidder will be the successful bidder. Immediately, the successful bidder will sign the Sales and Purchase Agreement and pay the difference of earnest deposit (if any by cashier's order or banker draft) as well as for the stamping fee of the agreement. After the signing of the Sales and Purchase Agreement, the subject property is considered handed over to the successful bidder.

Please email enquiry@edbidproperties.com or visit www.edbidproperties.com for further information on any of these or other properties in Penang.

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