AUCTION-Minimum Bid
$1,599,000

Previously Offered at
$3,150,000

270 Olive St. Absolutely stunning Mediterranean inspired 3bedroom, 3bath 2,850 SF ocean view estate in Morro Bay just steps to the ocean, wharf, shops and restaurants. Incredible architectural detail and wonderful use of light and space, including floor-to-ceiling Pella windows and doors with awe-inspiring views, 3 fireplaces, top of the line appliances, state-of-the-art audio video technology as well as a rooftop deck with 2-person spa.

NO HIDDEN RESERVE!
SOLD TO THE HIGHEST BIDDER AT OR ABOVE THE MINIMUM BID.

1. To bid on our property, you must be of legal age to enter into contract to purchase real estate (18 in most states, 21 in others). If you're in doubt about the legal age to enter into contract in your state, please consult with competent legal counsel before bidding.
2. While auction is "active", bids can be placed online or delivered via fax or email.
3. Sold to the Highest bidder at or above the Minimum Bid Price.
4. Buyers Agent commission of 2.5% is being offered to the highest accepted bid.
5. All bids are placed in US Dollars.
6. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
7. The high bidder will be notified via email and or phone after the auction ends.
8. Seller reserves the right to postpone or cancel this auction at any time for any reason.
9. Within 1 day of auction close, winning bidder will be asked to obtain loan pre-approval or show proof of funds and sign a sales contract at the winning bid amount including the Buyers premium and based on the terms described here.
10. Closing will take seller's agreed upon title company within 30 days of signing the contract.
11. When contract is signed, winning bidder will pay $20,000 earnest money to be held at title company handling the closing.
12. Winning bidder may, at their option and expense order a title examination and insurance.

13. A two percent (2%) buyer’s premium (paid by the buyer) will be added to the highest bid amount and/or “Buy Now” price accepted by the Seller to determine the Final Purchase Price.