5 Day Method sales are not auctions and they are not cash only sales. Once the “Round-Robin” is concluded and a “Best Bidder” is awarded the sale, the buyer and seller enter into a traditional closing with a standard Real Estate Contract and if the seller chooses they can finance the home like any other sale. The transaction is handled like any typical real estate sale subject to financing (if applicable), property inspection(s), and appraisal. The sale closes like a “regular” real estate transaction.
Is a 5 Day Method sale a cash only auction?
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