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  » Site News

Jan. 28, 2011
MAJOR HEDGE FUND INVESTOR BUYING UNDEVELOPED (VACANT) LAND IN SOUTHWEST CLICK FOR DETAILS
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  » Frequently Asked Questions


If you are the highest bidder at the time the auction closes, then you are considered to be the winning bidder. Immediately after the auction closes, you will receive an e-mail from us explaining your purchase, showing your payment options and price breakdown. You need to review any and all documentation sent to you at this time so that you will be prepared to either pay your down payment, or pay in full as you wish, when a member of MDP Land Management and Development, Inc. (mylandauctions.com), contacts you. You will be contacted within 48 hours after the auction closes to arrange down payment and appropriate documentation completion.
Full payment of your down payment or your payment in full, whichever is valid is due within 7 days, after which all documentation will be sent to you.

We will need to know how you wish to hold title, for example, in whose name do you want the property in. We will also need marital status, address, telephone number, social security number and date of birth. After receiving this information we will then send your documents to your address by Federal Express, or if a post office box, by certified mail. You will need to sign the documents where highlighted and have the pages that are marked witnessed if needed and notarized. Mortgages will need to be witnesses and notarized. All other documentation will only need your signature. In the event that you are not purchasing with a Mortgage, then no notary will be required. Further, a copy of your driver’s license must be enclosed with the return documents for proof as to your signature and address.

When all of your documents are returned to us, in the Federal Express envelope provided to you by us, we will then process your Deed and Mortgage (if applicable), including recording the Deed in your name and Mortgage, if applicable, in the appropriate County and State where the property is located. Obviously in the event that you do not purchase the property with a Mortgage, but have purchased the property outright, then just a Deed will be recorded in your name. You will be responsible for any monthly payments due during the time the Deed is being processed and recorded. Your first payment is due 30 days after the date of the “auctions’’ end, not the date of the contract, nor the date on the Mortgage or Note.
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