Big Bear Real Estate, Big Bear Lake, CA

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Big Bear Real Estate, Big Bear Lake, CA

The Club at Big Bear Village - Auction

The Club at Big Bear Village, located in California's beautiful Big Bear Lake, is one of the most spectacular villa private residence club resorts in the country.

 

Owning a one-tenth deeded ownership means owning not just your unit but an interest in the entire Club.

44 remaining 1/10th ownerships in Southern California's premiere private residence club being sold via sealed-bid auction. Luxurious 3 and 4-bedroom villas all richly appointed with top-of-the-line amenities are being offered for a limited time only.

Fractional ownership is an increasingly popular alternative to owning a traditional vacation home. Read more...

Reserve Price of $99,000 (3-bed) & $119,000 (4-bed) -- Auction Closes November 13, 2007

For more information on the registration process, call today:

Mike Sannes
Big Bear Real Estate, Club Office
909-435-5155 • e-mail

More about the Auction Process

Frequently Asked Questions

Press Release for more info

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The Club at Big Bear Village, located in California's beautiful Big Bear Lake, is one of the most spectacular villa private residence club resorts in the country. Owning a one-tenth deeded ownership means owning not just your unit but an interest in the entire Club.

Overview of the Auction Process

Only 44 new memberships remain
Sealed-bid auction format being run by independent auctioneer (not a forced sale)

The registration and bidding process is simple and straightforward

Interested parties must register in order to bid

Reserve price of $99,000 for a 3-bedroom and $119,000 for a 4-bedroom villa

November 13th, all bids are unsealed and the top 44 win. The winners have 30 days to close (financing available)

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Frequently Asked Questions

1. Why are they being sold at auction?

The Seller has made a prudent business decision. Rather than incur the carrying costs associated with a conventional marketing program, they have decided to sell these Fractional Ownership Interests in a one-day, seller close-out auction event.

2. Where is the auction to be held?

This is a Sealed Bid auction, therefore by submitting your bid via mail, you are not required to attend the sealed bid opening which takes place at the offices of Premiere Estates Auction Company. Premiere Estates Auction Company must receive your bid and deposit no later than 4:00pm PST, Monday November 12, 2007.

3. Can I mail my Registration Deposit in the form of a personal or company check, or letter of credit to bid at the auction?

No. It must be a cashier´s check. The check will be deposited with First American Title Insurance Company, as stated in the Purchase Agreement, only if you are the successful purchaser. You may provide a personal check for the balance of the 10% deposit if you are awarded a property.

4. What happens to my check if I am not one of the Winning bidders?

It is NOT cashed and it is returned within 72 hours after auction day and you can take it back to the bank that issued it for a full credit.

5. What does the term "Minimum Opening Bid" mean?

The minimum opening bid means the Seller must sell the property at the minimum bid of $99,000 for the 3 bedrooms and $119,000 for the 4 bedrooms. Remember this represents a 41% DISCOUNT from The Club´s last sales. There will be only 44 units sold, therefore we suggest you provide your "HIGHEST AND BEST" bid. The auction company will not provide the opportunity to counter offer.

6. What is the Buyer´s Premium?

There will be a 10% (ten percent) buyer´s premium equal to ten per cent (10%) of the subtotal. This subtotal includes the high bid price. This amount shall be added to the subtotal and inserted in the Purchase Agreement to determine the total purchase price. For example: If the subtotal is $100,000 the buyer´s premium is 10% (ten percent) of the subtotal or $10,000. The total purchase price is $110,000.

7. Can I come to the auction for the opening of the bids?

Our offices cannot accommodate a large crowd, therefore to be fair to all the bidders, we will not allow bidders to attend the opening of the bids. First American Title Insurance Company representatives will be officiating the opening of the bids. Premiere and First American will be contacting the successful bidders immediately after the completion of the bid opening process.

8. Can I buy more than one unit?

Yes, you will need to fill out the forms for each unit you bid on and provide the required funds.

9. Will I have a chance against the professional buyer or investor?

Absolutely. Our experience as auctioneers indicates most of the sales will be to private individuals.

10. Are there any problems with title?

No. You will receive clear title, as specified in the Purchase Agreement subject to the permitted title exceptions.

11. Is third-party financing available, or do I have to pay cash?

The purchase is considered a cash sale. Third party financing is available from any lender though we suggest contacting Vacation Finance at Vacationfinance.com. They have provided financing to buyers of The Club at Big Bear and are ready and able to complete closings. Although financing can be used to close your purchase it can not be a contingency in the contract.

12. What information should I have received at the Open House and when can I view the property?

A representative of the auction company will on-site at the Club to answer questions from 11am to 5pm everyday except Tuesdays up until Auction day. The "Bidder´s Information" and the auction brochure will include a package of viewing and auction bidding information, "Specimen" Purchase Agreement, closing information, floor plans, Declaration of Condominium for the Club, bylaws, Articles of Incorporation, budget, disclosures and Terms of Sale and other applicable information.

13. Is there anything I can do to better prepare myself for buying at auction?

Yes! In addition to reading this Questions and Answers form, we suggest you review the Bidder Registration form to understand how to participate in our Sealed Bid Auction, as well as the Purchase and Sale Contract. These will be provided upon request.

14. Do I get a grant deed?

Yes, title is conveyed through a grant deed.

15. Can I purchase prior to the auction day?

To be fair to all bidder´s we will not sell prior to auction day. Remember this is a one day, one time opportunity with only 44 units being sold. The value to you to buy at auction is tremendous, so make sure when you bid, you provide us with your "Highest and Best" bid. By doing so, you will have the best chance to buy this spectacular property.

16. If the minimum bid is $99,000 why shouldn´t I just offer the minimum amount?

The owner is only going to accept the top 44 bids, if you are not in the top 44 highest bids you will not win and there will not be a 2nd chance to raise your bid.

17. I prefer a 4 bedroom but recognize there are more 3 bedrooms available, can I bid on a 4 bedroom and if I lose have a chance to get a 3 bedroom?

Yes, we will allow you to indicate your preference on the offer form and will review your first choice. If your bid for your first choice is not one of the highest bids then we will rank your bid based on your 2nd choice.

18. Will there be other units for sale at the Club after the auction?

Owners at the Club may elect to sell their own interest at any given time.

 

       

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