Sale Terms and Important Information

1. 12% Buyer’s Premium added to the winning bid price to determine total contract price.
2. No minimum bid, final bid subject to seller’s confirmation.
3. Auction is ONLINE ONLY.
4. Extended online close: If a bid is placed in the last 5 minutes, the auction will automatically extend an additional 5 minutes.
5. Current price listed on MLS or other websites is not deemed a selling price. Many websites will not allow auction only listings.
6. $25,000 cashier’s check made payable to Auction Escrow & Settlement is required to bid.
7. Cooperating broker participation is offered. Contact the auction company to register your client and receive the terms.  Real estate agent MUST register client prior to client’s first bid.
8. Closing & payment: High bidder (purchaser) must remit 10% non-refundable payment of the total contract price on auction day to Auction Escrow & Settlement. Balance to be paid at closing within 30 days. Purchaser must sign a non-contingency contract to close within 30 days of the auction date.
9. Seller/owner/creditor reserves the right directly or through directing the auctioneer to recover equity and/or liquidate debt by placings bids on their behalf up to or equal to a level necessary to guarantee clear title with no tax issues, liens or encumbrances.
10. Disclaimer: Acreage and square footage dimensions are based on information provided by seller and are believed to be correct; however, purchaser &/or purchaser’s agent/broker shall bear responsibility to confirm all calculations prior to the sale. Not available to residents of any state in which this real estate is not in compliance with the real estate laws of that state. All information provided or contained in a brochure was derived from sources believed to be correct but are not guaranteed.

Contact us for more info – mthomas@auctionsection.com – 713.594.1576