General Auction Rules

1. A Bidder that submits a Winning Bid is irrevocably obligated to purchase the property for which a Winning Bid was submitted. This Winning Bid will be binding and may not be rescinded or revoked. A bid is not a Winning Bid until the auction of that property closes.

2. Prior to bidding, a Bidder must register and submit deposit funds to Grant Street Group in the amount to be established by the County prior to each sale. In the event a Bidder wins a property, funds shall be applied from the Bidder's deposit to the sale price immediately after the auction closes.

3. The balance of payment plus any documentary transfer fees due from the Winning Bidder must be received by Grant Street Group within five (5) business days. In the event the highest Bidder on the auction fails to comply with the settlement requirements, then that Bidder's deposit shall be forfeited to the County.

4. If for any reason a Bidder is disconnected from the auction website during an auction after having submitted a Winning Bid, such Winning Bid shall be valid and binding upon that Bidder.

5. Grant Street Group and Sacramento County will not accept any bid that generates an error message until the error is corrected and that bid is resubmitted.

6. By participating in the auction, each Bidder accepts, and agrees to abide by, all terms and conditions, and bidder qualifications specified on the auction website, related to the auction in which the Bidder participates.

7. Only registered Bidders that abide by the bidder qualifications on the site may submit bids. Grant Street Group and Sacramento County reserve the right to deny access to the auction website to any Bidder, whether registered or not, at any time and for any reason whatsoever, in their sole and absolute discretion.

8. A Bidder is responsible for protecting their password and User ID. Neither Grant Street Group nor Sacramento County are responsible for protecting the confidentiality of a Bidder's password.

9. A Bidder who submits a bid by clicking the "Submit" button must confirm the bid by reviewing the confirmation dialogue box and then clicking the "Confirm" button to confirm. In general, once a Bidder has submitted and confirmed a bid, the bid will be binding and may not be rescinded or revoked.

10. If any bidder becomes a leading bidder within two (2) minutes prior to the scheduled close time, then the close time will be automatically extended for two (2) minutes from the time such new leading bid was received by the auction website. The close time will continue to be extended, indefinitely, until the leading bidder remains the leading bidder for at least two (2) minutes.