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1. REGISTRATION: All prospective buyers MUST register in order to bid at
the auction. Payment shall be by personal or company check.
2. PURCHASE AGREEMENT: The successful buyer shall sign a Vessel Purchase
Contract and Receipt and write a check for TEN PERCENT (10%) of the high bid to IB&M Trust Account as Earnest Money. If for any reason, the buyer(s) are unable
to complete the transaction, the Earnest Money will be forfeited. Final
settlement shall be within 21 days of auction date.
3. INSPECTION: Previewing and inspection of is essential. The vessel is being
sold “AS IS – WHERE IS”.
4. SELLER’S & AUCTIONEER’S DISCLAIMER: All announcements made by the Auctioneer
shall take precedence over any previously written material or oral statements
made by auctioneer. Conduct of the auction, increments of the bidding, duration
of the auction and decisions as to the high bidder will be at the sole
discretion of the auctioneer. ALL information is subject to the inspection and
verification by all parties relying on it. NO GUARANTEE, WARRANTY OR
REPRESENTATION, EXPRESSED OR IMPLIED IS GIVEN ON THE INFORMATION CONTAINED IN
THE BROCHURE OR DUE DILIGENCE INFORMATION. The Seller and their agents expressly
disclaim any and all liabilities, which may be based on such information, errors
therein or omissions therefrom. ONLY such representation and warranties as may
be set forth in a definitive Vessel Purchase Contract between Seller and Buyer
shall have any legal effect. SELLER reserves all rights of disposal of the
vessel prior to auction.
5. BUYER PREMIUM:
A ten percent (10%) fee will be added to the successful high
bid. The Buyer Premium is refundable if SELLER cannot deliver clear and
marketable title to the vessel, at close of escrow through no fault of the
Buyer.
6. ABSENTEE BIDS: Individuals unable to attend
the auction may complete an Absentee Bid Form, authorizing the auctioneer to bid on their behalf, up to a
specific written amount.
7. BROKER PARTICIPATION: Boat Brokers are encouraged to participate in the
Auction process and register their respective clients. Contact the Auctioneer
for Registration Forms. NO oral registrations will be accepted!
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