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The successful highest bidder will be aware their bid was highest for that specific PARCEL at the expiration of the timed auction for that PARCEL. Assuming there is no high bidder for the EN BLOC PARCEL at the expiration of the auction the highest bidder will be contacted by email and text notification (at the contact references provided on the registration page) at the completion of the auction. As part of that notification the successful bidder will be notified of the process for delivering the signed Offer along with the requisite deposit. The deposit must be made by way of either bank draft or certified cheque. All deposits will be held in the trust account of Carter Lock & Horrigan law firm in accordance with the Offer.
In the event CLHbid is not in receipt of the duly executed Offer (the ‘Offer’ is the offer posted on the website well in advance of the Auction date) together with confirmation of receipt of deposit prior to the designated time then CLHbid reserves the right to contact the second highest bidder to determine if the second highest bidder wishes to provide a formal signed Offer along with deposit. In the event a high bidder elects not to submit a signed Offer in the form designated together with the deposit the high bidder agrees to forthwith pay a fee (‘Default Fee’) of $25,000.00 to CLHbid. At the option of CLHbid such Default Fee may be charged against the Credit Card submitted by the high bidder as part of registration process. Bidders are reminded they are bidding the terms of the posted Offer and cannot change the terms thereof.
All highest bids are conditional on the Seller’s approval.