Auction Handbook

What is an auction?

Auctions have existed for more than 2,000 years and continue to grow in popularity every year. An auction occurs when consumers gather physically, or online, to buy an item by bidding against each other until the highest offered price is reached.

The history of auctions

Records handed down from ancient Greeks document auctions occurring as far back as 500 B.C. At this time, women were auctioned off as wives. In Rome, around the time of Christ, auctions were popular for family estates and the selling of war plunder. One of the most significant historical auctions occurred in 193 A.D. when the entire Roman Empire was put on the auction block by the Praetorian Guard.

American auctions date back to the Pilgrims’ arrival on America’s eastern shores in the 1600s and continued in popularity during colonization with the sale of crops, imports, livestock, tools, slaves and entire farms. Colonels during the American Civil War were the only people allowed to auction war plunder and today many auctioneers carry the title of “Colonel”.

Auction schools started in the early 1900s in the United States.

The Great Depression created many opportunities for auctioneers as their services were needed to liquidate the assets of individuals and businesses hurt by the economy.

As time has gone by, auctions have become more and more popular as a means to sell goods and assets. Technology

has changed the face of auctions from the days where auctioneers would stand before an audience and call an auction, to today’s auctions where computers, cell phones,and fax machines are utilized daily.

The auction option

Whether you’re selling sentimental prized possessions or looking to buy one-of-a-kind treasures, an auction is just the place to make things happen.

Contrary to what some might view as complicated and time consuming, a fast-paced auction is one of the most efficient ways of converting your property or assets into immediate cash. With the combination of pre-sale marketing and the auctioneer’s attention-getting chant, you could have enthusiastic, attentive buyers aggressively competing to purchase your property.

If you’ve never attended an auction, you’re missing out on a great time!

Auctions are exciting and most importantly, auctions are fun! Auctions exhilarate and captivate everyone, from the opening call of “Would you bid?” to the sound of the gavel slamming down and the ringing of “Sold!”.

Everywhere you turn at an auction, there’s a thrill in the air as potential buyers find something they want and set out to successfully bid against others who want the same thing. Auctions bring out the competitive nature in all of us!

Industry overview

Today’s auction industry is broad and diverse and ranges from art and antiques, to real estate and automobile auctions. Professional auctioneers sell on average a quarter-trillion dollars in goods and assets every year in the United States.

What types of auctions are there?

Agricultural machinery & equipment

Art, antiques & collectibles

Automobiles

Benefit

Commercial and industrial machinery & equipment

Commercial and industrial real estate

Estates

Intellectual property

Land and agricultural real estate

Livestock

Personal property

Residential real estate

Everywhere you turn at an auction, there’s a thrill in the air as potential buyers find something they want and set out to successfully bid against others who want the same thing.

Auction Answers

The Complete Idiot’s Guide to Live Auctions

Excerpts from The Complete Idiot’s Guide to Live Auctions, a publication authored by the National Auctioneers Association.

Absentee Bid

A procedure which allows a bidder to participate in the bidding process without being physically present. Generally, a bidder submits an offer on an item prior to the auction. Absentee bids are usually handled under an established set of guidelines by the auctioneer or their representative. The particular rules and procedures of absentee bids are unique to each auction company.

Absolute Auction (Auction Without Reserve)

An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount.

“As Is”

Selling the property without warranties as to the condition and/ or the fitness of the property for a particular use. Buyers are solely responsible for examining and judging the property for their own protection. Otherwise known as “As Is, Where Is”.

Auction Listing Agreement

A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction and sets out the terms of the agreement and the rights and responsibilities of each party.

Auction With Reserve

(Subject to Seller Confirmation)

An auction in which the seller or his agent reserves the right to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the seller reserves the right to accept or decline any bid within a specified time.

Ballroom Auction

An auction of one or more properties conducted in a meeting room facility.

Bidder's Choice

A method of sale whereby the successful high bidder wins the right to choose a property or properties from a grouping of similar or like-kind properties. After the high bidder's selection, the property is deleted from the group, and the second round of bidding commences, with the high bidder in round two choosing a property, which is then deleted from the group and so on, until all properties are sold.

Bidder Package

The package of information and instructions pertaining to the property to be sold at an auction event obtained by prospective bidders at an auction.

Buyer’s Premium

A percentage added on to the high bid. Buyer premiums are used by many auction houses as a way of spreading the cost of the event with the people who benefit most from the opportunity to purchase; the buyer. It is an amount added to the high bid in addition to the high bid and payable by the buyer.

Caveat Emptor

Latin term meaning “let the buyer beware.” A legal maxim stating that the buyer takes the risk regarding quality or condition of the property purchased, unless protected by warranty.

Minimum Bid Auction

An auction in which the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure and advertisements and is announced at the auctions.

Opening Bid

The lowest acceptable amount at which the bidding must commence.

Terms and Conditions

“Terms and Conditions” are the printed rules and format ofthe auction. Terms and conditions outline the type of auction, the commission structure of auction, and any other pertinent information. The terms of each auction vary and differ between auction companies.

Ringman

The “ringman” is a member of the auction team who works with bidders throughout the auction. A “ringman” is generally recognized as the person in the crowd yelling and flashing hand signals to the auctioneer when a bid has been made. This individual works the auction “ring”, hence the name “ringman”.

Withdrawal

Failure to reach the reserve price or insufficient bidding.

There’s even more curiosity among bidders when it comes to the prices obtained at auction. Auctions are a social event and while people attend to find great deals, many walk away making new friends.

Auction tips

There's an excitement about auctions that makes it a special event that draws people again

and again. People attend out of curiosity about what unique or interesting items are for sale. There’s

even more curiosity among bidders when it comes to the prices obtained at auction. Auctions are

a social event and while people attend to find great deals, many walk away making new friends.

Auctions are also a great educational opportunity to learn about art, autos, furniture, and every type

of property sold, by talking to other attendees, sellers and auctioneers. You learn about values,

construction of items, collection practices and much more when you attend an auction.

Before you bid...

t Understand the basic types of auctions: absolute, reserve, and subject to seller confirmation.

t Arrive early and register for the auction. Certain auctions (i.e. real estate) may require a cashier’s check or other   payment in advance of the auction to qualify you to bid in the auction.

t Always read the Terms and Conditions sheet handed to you at registration because you are bound by them if you bid. Also inspect items you are interested in buying because when you buy at auction you typically buy “as is” which means if you bid and win, you now own and cannot return the item.

t Bid in sync with the chant. You should be listening closely and following the increasing bids. Remember: Filler words in the chant are used to remind buyers of the last bid number and give buyers time to consider their next  bid

Hiring an auctioneer...

 If you are considering an auction for your personal or business assets, consider the following tips.

t Whether it be real estate, art, or automobiles, select an auctioneer with experience in your particular type of sale.

t Ask for references and attend one of their auctions and learn about auctions firsthand.

t Take an active role in the marketing and advertising of your assets.

t Always consider hiring an NAA auctioneer. NAA member auctioneers are at the top of their field in the auction business.

Members are professionals well versed in the psychology of selling. Their education, experience and networking capabilities stimulate competition among bidders, securing you the highest price per sale.

The art of auctioneering

Contrary to popular belief, the key to being a successful auctioneer is not the speed of their chant, but rather their ability to market and promote their auctions. Auctioneers are entrepreneurs who excel in marketing and advertising.

The primary role of an auctioneer is to develop a marketing campaign to promote the sale of their client’s assets and attract bidders to their auction. Many auctioneers are also appraisers and experts in their field of sales (i.e. art, antiques, etc.).

As appraisers, auctioneers help their clients evaluate the value of their assets.

(NAA - Auction Handbook)

If you are looking for a professional Real Estate Auction Company that specializes in marketing and promoting properties worldwide and is also using the latest cutting edge technology in online and live auctions, contact:

George Avram

Broker/Real Estate Auctioneer

Continental Realty, Inc. Dba: 24by7bid Realty

16 Crow Canyon Court Suite 100

San Ramon CA 94583

925-548-5461

GeorgeA@24by7bid.com

www.24by7bid.com

DRE# 01422589

Fitch: CMBS Delinquency Declines Hit Month Four

November marked the fourth straight month that Fitch Ratings has recorded a decline in the delinquency rate for loans held in U.S. commercial-backed mortgage securities (CMBS).

CMBS late-pays fell by 15 basis points last month to 8.41 percent, down from 8.56 percent in October. New delinquencies totaling $1.8 billion were offset by $2.2 billion of resolutions, Fitch reports.
Behind the positive numbers, though, the New York-based ratings agency says the performance of CMBS collateralized by office properties remain an area of concern heading into 2012. More than half of all new delinquencies in November consisted of office loans.
Of the four most prevalent CMBS property types (office, retail, multifamily, and hotel), loans backed by office properties saw the largest percentage gain in delinquencies since October, as well as over the past twelve months.
Office late-pays were up 4.3 percent (27 bps) month-over-month, and since November 2010 they have increased 16.5 percent (93 bps), settling in at a 6.56 percent delinquency rate as of the end of November.
Office properties now contribute 210 bps ($8.4 billion) to Fitch’s CMBS delinquency index. The agency has said for some time now that office properties with rolling rents would be responsible for an increasing number of new delinquencies.

Fitch says delinquencies for loans backed by office properties have closely mirrored broader trends seen across the sector. For example, several weak office markets contribute an outsized share toward the overall office delinquency figure, including Atlanta, Phoenix, Dallas, Sacramento, Detroit, and Las Vegas.
Each of these markets experienced third-quarter vacancy rates at or in excess of 20 percent, with three markets – Phoenix, Detroit, and Las Vegas – reporting rates over 25 percent, according to data provided by REIS.
However, loans backed by central business district (CBD) office properties from the strongest office markets are virtually absent from Fitch’s index. For instance, the CBDs of D.C., New York City, San Francisco, and Boston collectively contribute just one office loan to the index – a New York City office property in foreclosure.
In contrast to the increase for office – and modest upticks for hotel and industrial – multifamily and retail delinquency rates declined last month.
Multifamily delinquencies dropped 28 basis points to 15.71 percent, while retail shed 20 basis points to hit 6.63 percent.
Past-dues among hotel properties rose 12 basis points, posting a delinquency rate of 12.66 percent in November, while industrial delinquencies edged up 4 basis points to 10.34 percent.
Fitch Ratings’ delinquency index includes 2,579 loans totaling $33.8 billion that are currently at least 60 days delinquent, in foreclosure, REO, or considered non-performing matured. The total delinquency percentage is calculated from the outstanding CMBS populated rated by Fitch, consisting of approximately 33,500 loans comprising $402.3 billion.
The index excludes rated loans that are 30 to 59 days delinquent, which totaled $2.1 billion in November, compared with $1.5 billion in October.
Fitch Ratings maintains a ‘stable outlook’ on approximately 86 percent of its U.S. CMBS portfolio. Most of the remaining bonds are either considered distressed (8 percent) or have a ‘negative outlook (6 percent). (Carrie Bay -dsnews.com)

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Study Uncovers Declines Among Owner-Occupant REO Buyers

Looking for an REO buyer? It’s becoming harder to find owner-occupants to fit that bill.

New Vista Asset Management has published the results of a three-year study on buyers of foreclosed homes, covering 18 counties hit hardest by the mortgage crisis.
The company says the percentage of REO homes sold to owner-occupant buyers has decreased in almost every market.
In Los Angeles County, California, for example, owner-occupant REO buyers have dropped from 80 percent in 2009 to 60 percent by the third quarter of 2011.
New Vista’s study uses data extracted from local recorder, courthouse, and tax assessment records – looking at foreclosed homes sold by banks, HUD, Fannie Mae, and Freddie Mac – to determine whether the purchasers were owner-occupants or absentee owners using single-family homes as rental or vacation properties.
The company began tracking real estate sales transactions closed in the first quarter of 2009 and includes consecutive quarterly data through the third quarter of 2011.
“Although, quarter-by-quarter, we have observed some market-specific increases, over the entire period, owner occupancy rates for REO sales have broadly weakened,” said Brian Hurley, New Vista’s president and COO.
Hurley notes that with eleven consecutive quarters of data, the company can look beyond both seasonality and the temporary impact of demand stimuli such as the homebuyer tax credit, and observe “a clear pattern of decline.”
Wayne County, Michigan is the only market of the 18 analyzed that has seen the percentage of owner-occupant REO buyers increase over the last three years, albeit from extremely low levels.
In 2009, owner-occupants accounted for nearly 33 percent of REO purchases in Wayne County. By the third quarter of this year, their share had risen to just over 37 percent.
Wayne County was the only market that had an owner occupancy rate for single-family REO sales below 50 percent in 2009.

By the third quarter of 2011, owner occupancy rates for REO sales in an additional four of the studied counties had fallen below 50 percent, including Maricopa County, Arizona; Osceola County, Florida; Miami-Dade County, Florida; and Clark County, Nevada.
Most markets included in the study saw their share of owner-occupant REO buyers drop by double-digits over the three-year period.
Kevin Stein is with the California Reinvestment Coalition, a nonprofit organization that advocates for increased access to credit on behalf of California’s low-income communities.
Commenting on New Vista’s results, Stein said, “We are troubled by the significant drop in owner occupant purchases of REO properties in these hard hit markets, which is no doubt compounded by decreased access to credit and a failure to repair foreclosed properties to move-in condition.”
Stein says the increased investor acquisition of REOs is reversing the years of community development progress that nonprofits have facilitated.
“We need to ensure that lenders, nonprofits and government agencies are working together to give qualified homebuyers a fair chance to purchase REO properties and help stabilize residential neighborhoods,” Stein added.
While New Vista has been tracking the study’s findings since the first quarter of 2009, company management elected to formally publish the index in response to a growing focus on investor-driven solutions to the nation’s residential real estate crisis.
“Several initiatives now under consideration promise to channel more houses to investors rather than to owner-occupant purchasers,” Hurley noted.
“We timed the first release of our study to raise awareness of the community impacts that current REO disposition practices are already having,” he explained.
Hurley says bulk sales, drop-bid foreclosure auctions, and proposals under review by the Federal Housing Finance Agency (FHFA) to facilitate the sale of government-owned REOs for rental purposes all promise to move more REOs out of local real estate markets.
“Before the market adopts new strategies to address an expected surge in foreclosure volumes, we wanted the owner-occupancy impact of current approaches to be well understood,” Hurley said.
New Vista’s “Index of the Percentage of Single Family REO Properties Sold to Owner-Occupant Buyers” will now be published quarterly.
The company plans to increase coverage to include additional markets in 2012. (DSNews.com)

Congress Calls for Principal Reductions from GSEs

Twenty-one members of Congress sent a letter to Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco urging him to encourage principal reductions on loans backed by Fannie Mae and Freddie Mac.
“We do not urge that the enterprises reduce principal on mortgages as a kindness to homeowners,” the letter stated.
Instead, the congressmen support principal reductions on the basis that they will save taxpayers from some further potential losses.

The lawmakers cite first-quarter data from the GSEs stating 17.7 percent of Fannie borrowers are underwater, as are 19 percent of Freddie borrowers. These borrowers, they say, “are obviously at great risk of eventual default.”
With 44 percent of loans modified in the past two years more than three months past due, according to Freddie Mac data cited in the letter, “[t]he performance of the enterprises’ mortgage modifications leaves much to be desired for homeowners, for the housing market, and for taxpayers,” the letter stated.
The representatives urge DeMarco to disregard the short-term effects of principal reductions on the GSEs’ balance sheets in favor of looking at the long-term positive effects these reductions might have.
They point to an Amherst Securities study that negates the “moral hazard” theory, which hypotheses that offering principal reductions encourages homeowners to default.
“Right now, the FHFA is preventing underwater homeowners with mortgages backed by Fannie Mae or Freddie Mac from receiving balance reductions, even when a principal modification would save the investor – in this case meaning taxpayer – money compared to foreclosure,” said George Miller (D-California), one of the representatives who signed the letter. (DS News)

California Housing Production Increases for Third Consecutive Month in October, CBIA Announces

SACRAMENTO – California housing production increased for the third consecutive month in October as builders pulled permits for 17 percent more housing units when compared to October 2010, the California Building Industry Association announced today.

According to statistics compiled by the Construction Industry Research Board (CIRB), permits were pulled for 2,782 total housing units in October, up 17 percent from the same month a year ago but down 26 percent from September. Permits for single-family homes totaled 1,444, down 4 percent from October 2010 and down 8 percent from the previous month, while multifamily permits totaled 1,338, up 54 percent from a year ago but down 38 percent from September.

For the first ten months of the year, permits were pulled for 37,274 total units, up 7 percent when compared to the first ten months of 2010 when 34,745 permits were issued. Permits for single-family homes were down 14 percent while permits for multifamily units were up 38 percent.

“This is definitely what we would like to continue seeing, but I wouldn’t call this a recovery quite yet,” said Mike Winn, CBIA’s President and CEO. “All of this year’s incremental growth can be attributed to the multifamily sector. Single-family homebuilding is still struggling and that’s the sector that usually has a greater impact on jobs and the economy.”

Winn noted the CIRB forecast remained unchanged with a total of 46,000 residential permits expected to be pulled in 2011. The forecasted single-family total of 21,500 units would be the lowest on record since CIRB began tracking permits in 1954 while the forecasted yearly total would put this year a scant 3 percent ahead of 2010’s 44,762 units.

“We continue to be going in the right direction but we still must ask our lawmakers to do no harm as our industry continues on the fragile path to recovery,” said Winn. “Getting single-family home construction back on track would go a long way toward putting people back to work and getting our state’s economy moving again.” (CAR Newsline)

George Avram

Broker/Owner/Real Estate Auctioneer

Continental Realty Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

DRE# 01422589

925-548-5461

www.24by7bid.com

Overcome mental roadblocks that lead to foreclosure

There are several government reports out now stating that most homeowners who lose their home to foreclosure never contact the bank to determine whether they can work something out with them, despite the ubiquitous government, bank and media education campaigns encouraging them to do just that.
While I'd wager that a small portion of this number are strategic defaulters who plan to walk away from the home in any event because of its deep negative equity, the vast majority are folks who have lost a job, seen their business income decline during the recession and/or had their payment adjust steeply upward sometime over the past couple of years, and have simply fallen behind on the payments.
Simply ignoring the bank's calls and letters does not just get a distressed homeowner out of a hard conversation or two; the ultimate results of this plan of inaction include losing the property to foreclosure and bank repossession, including eviction and having to find another place to live.
Could those things happen anyway, even if you do reach out to the bank? Absolutely. But there are still millions of homeowners every year who are able to save their homes, under a bank or government loan modification or refinance program, or even amicably agree to a less traumatic surrender of the property than foreclosure, by short-selling the property or negotiating a deed-in-lieu of foreclosure.
It only makes sense to try.
But not everyone does. Here are a few of the emotions and psychological underpinnings I suspect motivate a homeowner in mortgage distress to completely avoid the situation and fail to seek help with keeping their homes. And just in case you recognize yourself in any of these, I've also included some steps for deactivating these issues and rethinking your (non-)approach.
1. Fear and panic. The thought of not being able to make your mortgage payment -- and then actually missing it -- induces a constant, chronic state of fear and overwhelming dread. If you have a contingency plan in place -- a check you know is coming, or a new job where you'll get your first check in a week or two -- those emotions are manageable. But if you have no backup plan, or it falls apart, fear quickly comes to panic -- and panic is paralyzing.
If you're about to miss a mortgage payment or have just missed one, and are feeling that paralyzing panic of not knowing what to do next, decide to do just one thing today -- right now -- to break the hold of that panic. First things first: Search the Web to get educated about the foreclosure process in your state.
On average, it takes 22 months of missed payments before banks foreclose on a home, on today's market. That's not to say you should plan on missing that many, because many states allow foreclosure after six months, and even a single missed month can be difficult to ever recover from.
But it should also help you understand that you'll probably not be evicted tomorrow, and you probably do have some time to try to work something out, whether with the bank or with your own financial situation.
Any little item you do will help put the kibosh on your panic. So, go to your mortgage company's website and figure out who it is you are supposed to call. Calendar your time to call the bank, or call them right now. Just do something, no matter how little, but do it now.
2. Guilt and shame. The longer you've been a responsible homeowner, the more susceptible you are to feeling guilt and shame at the prospect of needing to reach out and ask someone for help.
If feelings of guilt for making a bad mortgage choice five years ago or shame at having lost your ability to support your family and make the mortgage payments are holding you back from making the call, get over it. Guilt and shame are the lowest-energy, least productive of all the human emotions.
And the fact is, you certainly are not alone in having chosen an unsustainable mortgage or having lost your job. The guilt and shame you feel now, if this describes you, are nothing compared to what you will feel if you lose your home without having given the effort to save it your best college try.
3. Intimidation. Perhaps things would be different if this was unfolding back in the days of the friendly neighborhood banker. These days, homeowners read headline after headline about the banks having foreclosed on the wrong people, flat out refused to help hundreds of thousands of homeowners who were targeted by the government housing programs, and running loan modification applicants through an insane rigmarole of lost documents and required resubmissions and last-minute notices that the home is on the auction block.
I have personally known people so intimidated and overwhelmed at the thought of even taking on this David vs. Goliath-style battle that they just pack their bags and move out as soon as they know they're going to miss a payment.
If this describes you, consider getting some help in dealing with the banks. There is a lot of free help around.
Visit NACA.com and learn about their extremely successful, nearly free HomeSave program.
If you live in one of the "Hardest Hit" states or D.C., contact your state's housing finance agency, which can directly assist you with designated "Hardest Hit" funds, and has particularly unique and powerful options for those receiving unemployment insurance or who are back at work but struggling to get caught up on their mortgage payments.
Additionally, many HUD-approved credit counseling services will negotiate with your lender on your behalf in a delinquent mortgage situation, for very low or no cost. (Tara-Nicholle Nelson - Inman News)

George Avram

Broker/Owner/Real Estate Auctioneer

Continental Realty Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

DRE# 01422589

925-548-5461

www.24by7bid.com

Top reasons to sell home in winter

We're getting close to the end of the year, which begs the question of whether it's worthwhile trying to sell your home now. Is it a waste of time? Will it sit on the market and become shopworn? Should I take my house off the market for the holidays? Will the home-sale market be better for sellers in 2012?
The first question you need to ask yourself is: Are you emotionally prepared to sell? Selling is a challenge for most sellers, although some markets are better than others. Unless you bought more than eight to 10 years ago and preserved your equity, you may not be able to sell for enough to pay off the mortgages secured against the property and the other costs of selling.
For sellers who have no additional assets, a short sale or foreclosure may be the only option. If so, first look into government programs that might help you out financially. Also, talk to your attorney and tax adviser.
Sellers who have the resources to make up the difference between the sale price and the amount they owe need to ask themselves if they are willing to pay the additional cash in order to sell and move on.
There are two reasons why you might prefer bringing cash to closing. One is that your credit will not be negatively impacted, as would be the case with a short sale or foreclosure. The second is that many buyers shy away from short sales because of the lengthy and uncertain process involved.
The next thing to consider is the condition of your home. Is it ready for the market? The most salable homes are those that are in move-in condition.
Before racing to the hardware store, ask your Realtor about how much competition there would be for your home if you put it on the market before the holidays. Some areas are shy on inventory of good homes on the market. If so, now could be a good time to sell.
HOUSE HUNTING TIP: The supply/demand ratio plays a significant role in the health of a local real estate market. No matter what is said about the housing market nationally, it's the local picture that tells the tale in terms of the possibility of selling your home at any given time.
Most sellers don't put their homes on the market during the last or first couple of months of the year. The inventory of homes for sale tends to dwindle during the winter months. Interest rates are low. So, if there are buyers in your local market, you may be at an advantage selling when most sellers are waiting.
Some sellers feel that if they've waited this long to sell, they should put the process on hold until spring and get the house ready in the meantime. Certainly, it's not a good idea to put your house on the market until it looks great. But if you and your house are ready to sell, move ahead.
The market in general tends to slow down over the holidays. But rather than pull your house off the market and miss a likely prospect, change the showing procedure to require advance notice. And enjoy your holidays. A sale before year end could be a great holiday gift.
There is a lot of pent-up demand, on both the buyer and seller sides. Sellers have been waiting for a better time to sell. Buyers have been waiting for more quality inventory and a sense that prices have bottomed or are close to it.
THE CLOSING: Recent projections call for another five or so years of bouncing along close to the bottom of this market cycle. Many experts believe that the big price declines are behind us. (Dian Hymer -Inman News)

George Avram

Broker/Owner/Real Estate Auctioneer

Continental Realty Inc.

16 Crow Canyon Court Suite 100

San Ramon CA 94583

DRE# 01422589

925-548-5461

www.24by7bid.com