J. P. King Auction Company

J. P. King Auction Company is a family-owned real estate auction firm founded in 1915 and based in Rainbow City, Alabama. It sells land, residential and luxury homes, development tracts and investment or commercial property across the United States, with some international listings. Sales are held live in person, online through its own bidding platform, or both at once.

How buying works

• Registration: buyers review the property information, register (usually online) and meet any bidder qualifications, which may include identification, financial verification or proof of funds. Some auctions require a refundable bidder deposit.
• Buyer's premium: when one applies, it is added to the winning bid and stated in that auction's terms.
• After the sale: the winning bidder signs the purchase agreement and pays the earnest money deposit right away. Many purchases are not contingent on financing, and closing typically takes about 30 days.
• Brokers: an agent is not required, but buyers using one should have the agent register under the auction's rules.

Good to know

• Bids are legally binding, and online bidding may extend near the close.
• Many properties are sold as is.

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Facts only, from the sources listed above. Always check each listing’s terms before you bid.