Fill in Bank Auction Bid and EMD Covering Letter

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Bank Auction Bid and EMD Covering Letter

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The bank and the auction
Your bid and the deposit
The bidder

Step 1 of 3

The bank and the auction

Which office are you writing to?Needed

For example: The Authorised Officer, the bank and branch named in the sale notice

In which town is this being signed?Needed

For example: Chandigarh

What is the date of the sale notice?Needed

A calendar date — the day, the month and the year. Dates in a document like this are read against one another, so a date typed here can change what another date is allowed to be.

On what date is the auction?Needed

A calendar date — the day, the month and the year. Dates in a document like this are read against one another, so a date typed here can change what another date is allowed to be.

Which property is being auctioned? Copy it from the notice.Needed

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: Residential house 1234, Sector 20-C, Chandigarh, as described in the sale notice

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What is the date of this letter?Needed

A calendar date — the day, the month and the year. Dates in a document like this are read against one another, so a date typed here can change what another date is allowed to be.

In whose loan account is the sale, as the notice names it?You may leave this

For example: M/s Kuldeep Traders

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BID LETTER AND EMD COVERING LETTER FOR A BANK AUCTION

To,
__________

Place: __________. Date: __________.

Subject: Bid and earnest money deposit for the auction on __________ under the sale notice dated __________.

Respected Sir or Madam,

4. I have read the sale notice and its terms and conditions. I understand that the property is sold on an "as is where is, as is what is, whatever there is" basis and without recourse to the bank, and that I should inspect the property and check its title and dues before bidding.

5. If my bid is the highest and is accepted, I will pay the part of the price due on acceptance, and the balance within the time given in the sale notice and the rules under which the sale is held, and I will deduct tax at source where the law requires and give the bank the proof. If my bid is not accepted, I ask that the EMD be refunded to the account it was paid from.

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