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1. REGISTRATION: All prospective buyers MUST register in order to bid.
Each bidder shall be required to possess a certified check drawn payable to
themselves, in the amount of $5,000.00. If buyer fails to close escrow, the
registration fee and earnest money deposit will be forfeited. Closing shall take
place within 30 days of the auction and in accordance with Seller’s Purchase &
Sales Agreement to be executed by Buyer and Seller after completion of the
Auction.
2. PROPERTY INSPECTION: Previewing and inspection of Property is
essential. The real and personal property is being sold “AS IS – WHERE IS”. A
complete Due Diligence/Property Information Package is available, and all
prospective buyers are urged to acquire said information and conduct any and all
due diligence buyer(s) deem appropriate.
3. 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, and decisions as to the high bidder will be at the sole discretion of
the auctioneer. The information contained in this brochure 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 purchase agreement between Seller and Purchaser
shall have any legal effect. Seller reserves the right of disposal of the
property prior to the auction date.
4. BUYERS’ PREMIUM:
A Buyers’ Premium of 10% will be added
to the Buyer’s high bid, resulting in the final contract sales price.
5. EARNEST MONEY: The earnest money deposit, equal to 5% of the bid
amount, including the bidder’s registration fee of $5,000.00 is payable to an
escrow account upon seller’s approval, the day of the auction. Individuals
unable to attend the auction may complete an Absentee Bid Form, authorizing the
auctioneer to bid on their behalf, up to a specific amount.
6. BROKER PARTICIPATION: A three percent (3%) commission will be paid to
the licensed real estate broker whose client pays and closes escrow. To qualify
for the commission, the licensed agent must register their client and accompany
their client to the auction. All registration letters from Brokers must be
signed by Agent, Broker and Client and must be mailed or faxed and received by
Auctioneer 48 hours prior to the auction. There can be NO Exceptions to this
procedure and NO Oral Registrations will be accepted.
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