PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE
Online Auction Terms:
GENERAL: The real property will be offered at public auction with online bidding. The deed will be a warranty deed. AS IS: The property and all improvements, if any, will be sold on an as-is, where is, with all faults, defects, damage, conditions and flaws. Buyer will take the property in the existing condition. No representations or warranties, express or implied, concerning the property is made by neither the sellers nor the seller's agents. Descriptions of the improvements and property are believed to be correct but are not guaranteed. You are encouraged to conduct your inspections and due diligence prior to bidding and buying at the auction. The real estate is being sold subject to any and all easements or right of ways. Real estate taxes are pro-rated at closing. Real estate sells subject to any easements.
METHOD OF SALE: The property will be sold by the legal description as a single tract or a combination of tracts.
SURVEY: No survey will be provided.
FINANCING: The sale is not subject to financing. Failure to close for ANY REASON WHAT SO EVER will result in the forfeiture of the deposit. NO EXCEPTIONS.
DEPOSIT REQUIRED AT AUCTION: Terms are for a deposit of $5,000 per tract which is due immediately at the closing of the auction. Method: cashier's check or a check with a bank letter guaranteeing funds.
PURCHASE CONTRACT: Buyer will be required to execute a Real Property Auction Purchase and Sale Contract on the date of auction and submit their deposit. Online bidders are required to submit an executed Real Property Auction Purchase and Sale Contract within 3 hours of the close of the auction.
NO CONTINGENCIES: The purchase and sale contract are not subject to any buyer contingencies for financing, appraisal, surveys, inspection or any other contingencies.
AGENCY: The Auction Company and their agents represent the seller and the seller's interest only in the transaction.
PERSONAL PROPERTY: There is no personal property or merchandise being transferred with the real property.
CLOSING: Closing is to take place no more than 45 days from the date of the auction. TIME IS OF THE ESSENCE. All of Buyer's closing costs are to be paid solely by Buyer except for costs that cannot legally be paid by Buyer. Seller is to pay Seller's closing costs.
TITLE REQUIRMENTS: Seller shall furnish, at Seller's cost, an owner's policy of title insurance in the amount of the Purchase Price. If a loan is secured for the purchase of the Property, Buyer agrees to pay mortgagee's portion of title policy. If Buyer elects to obtain enhanced title insurance coverage, Buyer shall pay for the increase in title insurance cost in excess of the cost of a standard owner's title policy.
BUYER'S PREMIUM: There will be a 10% buyer's premium added to the final bid to equal the contract price.
POSSESSION: Upon Closing.