LMCH Owned Membership
The purpose for the open bidding is to liquidate memberships that have become forfeited to LMCH. This will give the membership an equal opportunity to have access to the purchase of these sites.
· Open bidding process – The highest bid will be anonymously posted on the member webpage and updated weekly in Things & Stuff during the duration of the process.
· The duration of the bidding process will be 30 days.
· Minimum bid will be offered and will be established by the cost LMCH has incurred.
· In case of a tie bid, the bid will be awarded to the first bidder.
· The sales transaction will be processed by LMCH Staff.
· The bidding process will close at midnight 30 days after the opening.
· · Bidding Closed on August 1st 2017
· The highest bidder will be notified
· The bidder will have 30 days to complete the paperwork and pay or the offer goes to the next bidder.
· If no bid has been submitted after 30 days, the membership goes into the regular sales process.
· Only Proprietary Members in good standing will be allowed to bid.
· Members that are employees or in a contractual agreement with LMCH, are excluded from the bidding process.
· Check, money order, or wire transfer will be accepted as payment. No Cash.
· Sites will not be offered on contract.
· Bids will only be accepted in increments of $100.
· Members may bid more than once.
· The winning bidder will not be publicly announced.
· Standard LMCH transfer fees will apply.