Purchase Deposit. Buyer shall make a deposit in the amount of ten percent (10%) of the High Bid with ▇▇▇▇▇▇ Auctioneers & Real Estate, LLC (the “Escrow Agent”). A purchase deposit in the amount of $ (Dollars) ($ ) (the “Deposit”) by: CASH □ PERSONAL CHECK □ BANK CHECK □ WIRE TRANSFER □ OTHER □ was received and acknowledged below. The Purchase Deposit will be held by Listing Broker or Auctioneer in a noninterest-bearing account. If the Purchase Deposit is forfeited by the Winning Bidder, it will be applied to amounts owing to Listing Broker and/or Auctioneer before any distribution to Seller or otherwise.
Appears in 3 contracts
Sources: Real Property Purchase Agreement, Real Estate Purchase Agreement, Real Property Purchase Agreement