DO I NEED TO BE "PRE-QUALIFIED" IN ORDER TO BID?

No.  However, it is important that should you be the successful bidder that you will be able to satisfy the balance due by June 21, 2016 which is 30 days post auction.  Your successful bid is NOT contingent whether you can obtain a loan or not.   If you are unable to satisfy the balance due, you will lose your $5,000 earnest money deposit that you put down on auction day.

HOW DO I PARTICIPATE IN BIDDING ON THIS PROPERTY?

#1. First of all, you should do your own due diligence prior to considering placing a bid.  Learn all you can about the property and feel free to have a trusted adviser inspect the property during the scheduled open house dates.  #2. Attend one or both of the open houses (not required but recommended)  #3. Obtain a $5,000 cashier's check made payable to yourself.  #4.  Anytime prior to auction day, you must register for the auction by completing a bidders contract (this is attached to this form) #5. Auction Day!  On the day of the auction, all registered bidders for the real estate will gather at a secured location in the home.  (No spectators. You MUST be registered to be a part of this process.) The auctioneer will open the bidding by asking for an opening bid amount of $60,000. You will have the opportunity to bid a higher increment.  When the bidding concludes, the auctioneer will declare "Sold!" to the highest bidder.   From there, all non-successful bidders will receive their $5,000 earnest money check back.  The successful bidder will sign a purchase agreement, sign over their earnest money deposit and the paperwork will be sent to Minnesota Title for processing.  You will have 30 days to complete the transaction.