Auction Information

Saturday, May 30, 2009

Auction Location: Grand Villa Hotel, Burnaby
(Off Highway, Willingdon Exit)
Simulcast Location: The Florentine, Merritt (4100 Belshaw Street)
Registration begins: 9:00 AM
How to Bid seminar begins: 10:00 AM
Auction starts: 11:00 AM sharp

The auction is open to the public and each property will be sold to the highest bidder on sale day. There are no minimum bids or reserve prices – it’s a great way to make your real estate purchase.

Pre-registration

No obligation, free registration
Secure your seat now and receive your sale day catalogue by email on May 11. To pre-register, print the pre-registration form, complete it, and fax it to 604.580.1245. On May 11, you will be sent a full catalogue listing and you can avoid the registration line up on sale day.

Real estate is sold without subjects (financing, inspection etc.)
Bidders are expected to have done their own due diligence and determined the suitability and condition of the property before the auction.

A 1% real estate administration fee will be added to the final winning bid price of each property and included on the purchase agreement.

Ritchie Bros. Real Estate Services Ltd., BC License #X028512

To the Top

Registration Info.

In order to bid on items you must register and receive a sale day catalogue at the auction. Registration begins at 9:00 AM Pacific time.

All bidders are required to provide:

  • Photo identification – If bidding in person, please bring satisfactory photo identification (driver’s license or passport).
  • International buyers – Unless you have made prior arrangements with Ritchie Bros. Auctioneers, all international buyers are required to place a $10,000 deposit by cash, bank guarantee or cashier’s cheque.
  • Online buyers – If bidding online, visit rbauctionBid. Please register at least one week in advance to bid live and online from your home or office. Depending on your history with Ritchie Bros., refundable deposits of up to 25% of your desired bidding limit may need to be paid ahead of time.

A 1% real estate administration fee will be added to the final winning bid price of each property and included on the purchase agreement.

Ritchie Bros. Real Estate Services Ltd., BC License #X028512

To the Top

Broker Participation

Who can participate – brokers and/or licensed salespersons are eligible. All license numbers will be verified.

How – all brokers and or licensed salespersons must pre-register with their clients at least 48 hours in advance, no exceptions. Forms must be faxed to 604.580.1245.

Note – Licensed salespersons must have their broker sign the registration form

Click here for Broker Participation Guidelines Registration Form

For more information contact:
Ellen Engelsbel
Manager, Real Estate Business Operations
Real Estate Auction Division
Ritchie Bros. Auctioneers
Ph: 604.273.2135
Email: eengelsbel@rbauction.com

A 1% real estate administration fee will be added to the final winning bid price of each property and included on the purchase agreement.

Ritchie Bros. Real Estate Services Ltd., BC License #X028512

To the Top

How to Bid

Three ways to bid at the real estate auction

  • Attend the auction in person
    Join Ritchie Bros. Auctioneers at the auction located at the Grand Villa Casino, Burnaby, or the auction simulcast in Merritt.
  • Bid online
    You’re able to bid in real time over the internet on your home or office computer. Please register at least one week in advance to bid live and online. Depending on your history with Ritchie Bros., refundable deposits of up to 25% of your desired bidding limit may need to be paid ahead of time.
  • Place a proxy bid
    Ritchie Bros. Auctioneers will bid during the auction on your behalf, up to and including the maximum bid you have given. Please give ample notice if you are wishing to place a proxy bid. Depending on your history with Ritchie Bros., refundable deposits of up to 25% of your desired bidding limit may need to be paid ahead of time. Download Proxy Bid form.

How to buy real estate at a Ritchie Bros. auction

  • Find out about the real estate being sold
    Information about our upcoming auctions, including details and photos of listed properties, can be found in the current auction calendar on our web site. We publish documents pertaining to the property, information about the surrounding area and even maps for your convenience.
  • Register to bid
    Before bidding at a Ritchie Bros. auction you need to register and receive an auction catalogue. Our registration process is simple and free of charge: just present your government-issued photo identification at the auction site.
  • Can’t make it to the auction site on auction day?
    Register to bid over the internet, live and in real time. You will need to register a week in advance of the auction if this is your first time bidding online.
  • Bid on the properties of your choice
    Once you’ve registered, bidding is easy. If you are bidding in person, just listen to the auctioneer: he will announce which lot is being sold and begin accepting bids from any interested buyers. If no bids are offered, the auctioneer drops the ask price until someone starts the bidding. There will be plenty of Ritchie Bros. staff on hand to assist you.
  • Pay for your real estate purchase
    If you are the highest bidder, you will be required to make a non-refundable deposit immediately following the auction, which goes into escrow. The remainder of the purchase price is due before closing. See complete terms and conditions.
  • Congratulations – enjoy your new real estate investment!

A 1% real estate administration fee will be added to the final winning bid price of each property and included on the purchase agreement.

Ritchie Bros. Real Estate Services Ltd., BC License #X028512

To the Top

Terms & Conditions

The following terms and conditions form an integral part of the Terms of Bidding and Sale. Should these terms disagree with the Terms of Bidding and Sale stated on the reverse of the Bidder's Registration Agreement and on the inside cover of the Listing Catalogue, these terms shall supercede those stated terms and will apply to all sales of Real Property and to sales of Real Property alone.

  1. UNRESERVED AUCTION. The Property shall be sold to the highest bidder regardless of price at unreserved public auction. The sale shall not be subject to any minimum bid or reserve price.
  2. AGREEMENT OF PURCHASE AND SALE. The Buyer shall execute an Agreement of Purchase and Sale, in the form provided by the Auctioneer, without modification, immediately after being declared the high bidder.
  3. ADMINISTRATION FEE. A 1% administration fee will be added to the sale of every item purchased and included on the Agreement of Purchase and Sale.
  4. DEPOSIT. The Buyer shall submit NON-REFUNDABLE Deposit (certified funds) made out to the Escrow Agent. The balance of the Purchase Price shall be paid at or before Closing.

    Property Deposit Escrow Agent
    Parksville
    PID: 027-095-347
    $25,000    		 Kevin Westwood (in trust)
    Nicola Valley
    PID: 026-877-015
    PID: 026-877-023
    PID: 026-877-074
    PID: 026-485-621
    PID: 026-485-729
    $20,000
    $20,000
    $20,000
    $50,000
    $50,000    		 Morelli Chertkow (in trust)
    Merritt
    PID: 027-520-218
    PID: 027-520-242
    PID: 027-520-277
    PID: 027-520-285
    PID: 027-520-391
    PID: 027-520-480
    PID: 027-520-498
    $10,000
    $10,000
    $10,000
    $10,000
    $10,000
    $10,000
    $10,000
    		 Morelli Chertkow (in trust)
    Radium
    (1/4) PID: 027-129-934
    (1/4) PID: 027-129-934
    (1/8) PID: 027-530-256
    (1/8) PID: 027-530-256
    $10,000
    $10,000
    $5,000
    $5,000    		 Steidel, Kambeitz (in trust)

  5. CLOSING. Completion and closing of all real estate transactions will be handled by a qualified Escrow Agent appointed by the Seller and the Auctioneer. Closing will take place on the date that is 30 days after the date of the auction, or such other date as may be mutually agreed by the parties.
  6. ESCROW AGENT. All deposit, earnest and purchase monies in respect of the Property shall be paid to and deposited with the appointed Escrow Agent.
  7. POSSESSION. Buyer will receive vacant possession on the date of Closing.
  8. CASH SALE. This is a cash sale and is not contingent on the Buyer's ability to obtain financing.
  9. AS-IS SALE. The Buyer shall accept the Property in an as-is condition as of the closing date and the Buyer specifically agrees that neither the Seller nor the Auctioneer makes any representations or warranties of any kind whatsoever, expressed or implied, to the Buyer as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon. All descriptions, measurements and acreage provided by the Seller and the Auctioneer are to be used as a guide only. The Buyer shall have satisfied himself as to the location and condition of the Property, and all descriptions with respect thereto, prior to bidding.
  10. AGENT OF SELLER. The Auctioneer is acting as an agent of the Seller only, and not as an agent of the Buyer or a dual agent.
  11. TAXES. Applicable Federal or Provincial taxes must be paid by the Buyer in addition to the purchase price and administration fee.
  12. PERSONAL PROPERTY. No personal property shall be conveyed with the Property unless specifically included in the Purchase Agreement.

Ritchie Bros. Real Estate Services Ltd., BC License #X028512

To the Top