Surplus Asset Management: A Proven Real Estate Auction Authority
To learn more about non-property specific auction practices, please visit our Auction FAQ’s and What to Expect pages
A buyer’s premium is a fee added to the final bid. Usually the Buyer’s Premium is 10% and is paid for by the Buyer. *Bankrupt assets do not have a buyer’s premium added because the Seller pays the fee.
Unless otherwise stated, full payment is due by the end of the auction day in the form of cash, cashier’s check, credit card, or wire transfer made payable to the escrow company (or Ch. 7 Bankruptcy Trustee).
Unless otherwise stated, the Bidder is responsible to pay for all title fees and closing costs. If a property is offered for auction and no title company has been employed (i.e. in a bankruptcy case) the Buyer can always choose any title company they want to issue title insurance.
Yes. All bidders are encouraged to personally physically inspect the subject property PRIOR to auction to satisfy themselves with the subject property in its entirety. Unlike a traditional real estate transaction where you make an offer, then you conduct a 10-day inspection; Buying at auction requires the bidder conduct their own independent inspections, appraisals, surveys, title research prior to the auction as the buyer is purchasing the subject property in as-is condit
Yes. If you are not paying with cash, please get pre-qualified through a lending institution up to the amount of your bid.
No. Real estate taxes are levied and paid annually through the county assessor.
We are a full service company that will make every effort to help you sell your equipment. Our experts will consult with you to assess the value of the assets and determine which of our three methods will convert your asset into cash promptly and with greatest success.
YES. We accept all absentee bids at our live auctions. Please contact us for more information.
Yes. Each auction listing will have information regarding where the items are located and a scheduled preview time.
Once a piece is listed as ‘for sale at auction’ we are unable to pre-sell the item. If you are looking to purchase equipment outright, we have a large inventory database and multiple showrooms across North America to meet your needs.
You can sign up simply by entering your information into the fields under the “Subscribe to Newsletter” heading at the bottom of each page.
We do not provide shipping, however we will prepare items for shipping and load trucks for a fee. While it is the buyer’s responsibility to arrange shipping, we are happy to provide resources to help facilitate the process.
Buyers are responsible for all applicable state, county, and city sales taxes at our auctions. If items are purchased for RESALE, please bring, fax, or email a copy of your Resale Certificate to the sale.
We accept cash, PayPal (online only), cashier’s checks, Visa, Master Card, Discover, and American Express.
Removal timeframes will vary, but are generally three business days after the close of the auction. A removal schedule will be announced and posted on sale day. Removal deadlines are concrete and non-negotiable, and bidders should keep them in mind before their purchases finalize. If bidders are unable to gather their items in the time allotted, the items will be considered abandoned and will be disposed of.
- LIVE: All items must be paid for in full on the sale day.
- ONLINE: All items must be paid in full within 24 hours of winning the item.
The highest bidder will receive an email after the auction closes.
If an item receives a bid in the last two minutes, the ending time for that auction will automatically be extended by three minutes. Once three minutes have passed without any bidding, the item will close. This applies solely to Online Only auctions; sales with a live component will not have the auto-extend feature.
It is best to be sure you would like to purchase an item before placing a bid. By participating in the day-before preview and coming early to the auction, you can examine all available equipment and get your questions answered by our knowledgeable experts. If you are unsure about an item, it is best not to bid.
LIVE AUCTIONS:
Registration is a process of identifying yourself as a potential buyer. Bidders participating in a Live Auction event will be directed to the registration desk to complete the registration form, sign the standard Terms & Conditions for the auction, and receive a bid number which will identify you and secure your purchases.
ONLINE AUCTIONS:
To bid online, first visit the SAM Auctions website. Visit the page of the auction you are interested in, view the full catalog by clicking the button, and sign up for the sale via Proxibid (a third party service used to conduct our online sales). Your Proxibid account can be used for all Online SAM Auctions sales.
