US Customs Auction - Contract Assignable?
Hello to all.
I plan on attending & bidding on a SFH up for auction by US customs. The contract & term and conditions do not mention assignablity at all. Is this to be interpeted as the contract can be assigned?
See Link below for further info.
Thanks,
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Try posting the URl without www. & .com or just simply use the site name like. Auto Trader instead of www.Autotrader.com.
This is my 6th post so the URL should show up anyway.
Thanks
www.treas.gov/auctions/customs/rpsamp.html[ Edited by mmarks on Date 02/16/2004 ]
TTT
I went to a HUD auction 02/14/2004 in my area. It was done just like the sherriff's sale. You needed CASH to buy the house. You had 48 hours to bring the money. Except since 02/16/2004 was Pres Day, You had until 5:00pm today to come up with the remaining money. I would think that is the same same kind of auction youare talking about.
Lori
[addsig]
Actually it is a bit different. There is a $5,000.00 cashiers check due on sale and they give you 30 days to close.
Thats why I was interested in being able to assign the contract to a retail buyer.
Thanks,
Matthew Marks
mmarks,
Technically speaking, anything of value that you hold interest in can be legally sold or exchanged for something of greater or lesser value. Now, since you have no influence on the contract you signed or will sign with custom, it is rather a question how can you assign the contract for profit. To make sure that I do not create greater problem for myself I would read the contract carefully to examine the key rules and exclusions 1) consult with a local attorney on how can I do assignment and 2) consult with the custom to see what they think about that. While doing this several steps, more options will pop on so on the end of the day you'll know if you have a shot or you have to wait and follow the line.
Good luck!
Omega1
As usual you said nothing that makes sence or was helpful to the post
Lori
[addsig]