Big Sky Auctions
Call us: 406-443-1432
How to Bid on a Property?
There are two methods to submit a Bid for a Property listed on our website.
1.) Place Bid - At any time prior to the auction end date and time or acceptance by the Seller of a "Buy Now Bid" you may submit Bid. The Bids will be presented and opened by the Seller within 24 hours. Highest bid will be posted on the site within 24 hours and on the last 2 days updated every hour from 8 am - 6 pm then again at 8 am until closing of auction.
The successful Bidder will be notified by email and/or phone. The successful Bidder will have one (1) business day from date of notification to sign a Buy-Sell Agreement and other required documents listed below. If you have any questions regarding placing a bid you can email or call.
2.) Buy Now - At any time prior to the auction end date and time or acceptance by the Seller of a Buy Now Bid, a Bidder may submit a Bid for the Buy Now Price or higher.
Buy Now Bidder(s) will notify by email and/or phone of receipt of their bid. Buy Now bidder(s) will have One (1) business day from date of notification to sign the Buy-Sell Agreement and other required documents listed elow. If you have any questions regarding a Buy Now Bid you can mail.
All Buy-Sell Agreements must be submitted to Century 21 Heritage. Acceptance by the Seller will be based not only on the bid price but subject to Seller's review of any contingencies in the bid and the financial qualifications of the successful Bidder in the event of lender financing vs. Cash.
Documents Required from Successful Bidder
Within one (1) business day of acceptance of Buyer's bid, the following Montana Association of REALTORS approved documents must be signed by the bidder and submitted to Century 21 Heritage by the bidder's realtor/broker:
1.) Buy-Sell Agreement
2.) Agency Disclosure Form
3.) Buyer/Broker Agreement
4.) Megan's Law Disclosure
5.) Other disclosures required by law for the specific property; and
6.) Pre-qualification or pre-approvalletter from a lender if financing is required to complete the purchase for the Bid amount (Purchase Price).
Buy/Sell Agreement Terms and Conditions
Each buy-sell agreement shall include the following terms and conditions unless otherwise indicated on each individual property.
1.) Successful bidder shall deposit with the title company First Montana Title a non-refundable earnest money in the amount of five percent (5%) of the accepted bid price or Two Thousand Five Hundred Dollars ($2,500), whichever is greater, unless otherwise stated and/or approved by Seller, within one (1) business day after receiving notice of Seller's acceptance of the bid.
2.) The entire remaining purchase price, in excess of the earnest money, shall be paid, in cash, at closing.
3.) Closing shall occur no later than thirty (30) days from the date the bidder is notified of Seller's acceptance of their bid.
4.) Title inspection contingencies must be removed within 3 days from acceptance.
5.) Seller shall obtain and pay for a standard coverage seller's title insurance policy in favor of the purchaser from the title company, First Montana Title.
6.) The title company providing th Seller's title insurance policy shall act as closing agent of the transaction.
7.) Closing fees shall be paid equally by Seller and the Purchaser.
8.) Current year property taxes will be prorated to the day of closing.
9.) Any and all R.I.D's, S.I.D's, and special or non-recurring assessments of any non governmental associations including those that have not been notice to the Seller by City/County but not yet spread or currently assessed will be assumed by the Buyer.
10.) Any other closing costs shall be paid in accordance with normal practices as determined by the title company.
11.) All Buy-Sell Agreements that are not "Cash" at closing but are subject to financing must have a prequalification letter from a Bank or other local lending institution that is acceptable to the Seller, stating that the Buyer has been pre-qualified for the exact purchase price that the buyer has submitted in their bid.
