Every evening, Wilmington daily commercial., 1922-02-16
HOW TO BID FOR HOMES
AT UNION GARDENS
Nothing Complicated About the
Auction, All on an Equal
Footing.

Among thousands OF inquiries re-
ceived at the du Pont Building offices
of Gerth's Realty Experts. Auction
eers. who have been directed by the
United States shipping Board Elmer
gency Fleet Corporation TO sell Union
Park Gardens. on Monday. February
81 at p. m. sharp. in the Auditorium.
roc West Eleventh street. are re-
quests for pointers" az 20 just
how 10 bid for homes at the auction
sale. Other inquiries sought further
light on the terms of sale and number
OF types Of the houses among the BOB
to be sold for the account OF the
United States Government for what
ever they may bring.
There is nothing con. .plicated about
the kind OF auction sale an organi-
zation like Gerth's Realty Experts
holds and there IS no detail that is not
simple and thoroughly understandable.
All bidders are on equal footing, what
ever their position in the community,
their earning powers. or the sizes of
their bank accounts.
The way Is for those Interested 70
visit the property TO be sold and not
only study 1t carefully but inspect the
section IN which II is located. The
next thing to do IS TO get In touch
with someone who is familiar with
real estate values and obtain an ex.
pert opinion as to what the property
IS actually worth and the price TO pay
for II. Then determine Just what yoJ
can afford to pay for the property and
| Willing ~
spend. Two points must be consider
ed in connection with buying proper
ty. One is buying for a permanent
home and the other IS buying for in
vestment.
II IS important that prospective
buyers attend the auction sale early
At the Forthcoming sale at Union
Park Gardens the auctioneer will an
nounce the terms of the sale at p
m. Following this he will ask foI
bids. After this the whole action OF
the sale will pass out to- prospective
buyers.
Just as soon as a property ID
knocked down" an usher will come
10 the buyer and hand him what i:
called a receipt" which will contain
number and location OF the house ant
what is agreed to be paid for il. The
buyer must then pay him 1910 or the
purchase price of the house and the
auctioneer's fee and Immediately sisi
such receipt. One is privileged 10 pa,
In cash and II not in cash with Ger
titled check, liberty bond. savings
bank book or other cash equivalent.
The receipt which the usher give
must be exchanged immediately there
after at the front of the hall wher
You win be requested to sign a con
tract of sale.
The terms of the sale provide tha
purchasers may carry 1910 of pur
chase price years on bond and mort
gage at go. 500 of purchase price
, years on bond and mortgage at SAY
and 500 of purchase price 3 years o.
! bond and mortgage at SO. Interes
is payable semi-annually. Title an
/ fire insurance for full amount of mort
3 gage must be furniShed by the mort
I gager. Stores and business place
sold are subject TO existing lease:
Y Purchasers will be required to pa
e customary drawing and recording fee
v and revenune stamp charge.
@ There are 26 types of houses In
= cluded IN the sale. In addition ther
are four stores, | store with apart
: ment. / six family apartment hous
land two tracts of land.