Buying at Auction

Starting Times

Please be at the particular auction promptly at the appointed time and place as it only takes a few minutes to sell a property. There will be a brief explanation of the auction process and terms & conditions before each property is sold. A round of bidding begins when the Auctioneer opens the bid and concludes by saying "going once, going twice, going three times, sold."

Registration/Deposit/Successful Bidder

Although there is no obligation to bid, all prospective buyers must register in order to bid at the auction. Proof of a cashier's check, certified check, money order made payable to yourself in the amount of $2,000 for residential properties, or & $5,000 for commercial, industrial, or acreage properties is required. Visa/Mastercard may be used in order to register to bid. Credit cards may be used as collateral only and are guaranteed, by the purchaser, to be replaced with funds within 72 hours of the auction.

• 5% Total Deposit-The successful bidder on each property will be required to make a deposit equaling 5% of the total contract price within 5 days after the auction to the listing broker. The total 5% deposit is nonrefundable and will be applied towards the purchase price at settlement and/or buyer's closing cost.
• Balance of deposit may be paid with a personal check.
• In all cases the minimum deposit is $2,000 for residential properties and $5,000 for industrial, commercial or acreage properties.
• If you are the high bidder, you will endorse the monies and turn them over to the Listing Broker's escrow account. If you are not the high bidder, simply redeposit your funds back into your account.

Conditions

The Auctioneer's decision is final in the event of a dispute over any matter. The Auctioneer reserves the right to accept bids in any increments he/she/ feels are in the best interest of his/her clients and reserves the right to waive any previously announced requirements. All announcements from the auction block supersede any printed material or any other statements made previously. The Auctioneer reserves the right to withdraw any property from the auction, without penalty, with the approval of the seller.

Terms

When buying at this auction, the buyer agrees to.

• >Pay all closing costs allowable under state law.
• Settle within 30 days after auction. Extensions of up to 30 days may be granted for closing with approval of the seller. Cost associated with this extension can equal up to 1% of the purchase price i.e. if unpaid balance is $100,000 the cost per day, in a thirty day month, is $33.33.
• Be a non-contingent buyer.
• Purchase the property in "As-Is, Where-Is" condition unless otherwise stated or offered by the seller.

You are urged to inspect the property before the auction. The information contained in this brochure is subject to inspection and verification by all parties relying on it. No liability for the accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agents. This listing may be withdrawn or modified without notice at any time. No warranties or guarantees are expressed or implied unless otherwise offered or stated by the seller. Seller does not warrant that the existing structure meets any current city, county, state or federal building code, including with limitation, building code provisions having to do with electrical, plumbing, heating, sewage, roof or structure. Purchaser assumes responsibility to check with appropriate planning authority for intended use and hold broker, Auctioneer and/or seller harmless as to suitability for purchaser's intended use.

Phone-In Bids

Contact Auctioneer for instructions prior to date of auction.

Buyer's Premium

A fee due to the Auctioneer in the amount of 10 percent (10%) will be added to the final high bid and require_onced in the total contract price. Buyer's premium can be financed and is considered part of the contract price that equals the total contract price. The buyer's premium is due on all properties in this auction.

Financing Information

Mortgage financing is available to qualified buyers on most properties in this brochure. Please contact the Listing Agent on each property for further details. In most cases the buyer's premium and closing costs can be financed.

Broker Participation

Cooperating brokerage is encouraged with licensed real estate agents. A commission of three percent (2.5%) of the high bid will be paid by the seller to the Cooperating Agent whose successful bidder closes on the property. The Cooperating Agent must attend the auction with his/her customer.

Inspection/Open Houses

Most of the properties will be open on weekends, for three weeks, prior to each actual date and time of the sale on the property. Call the Listing Agent for the times and dates of each open house or to set up an appointment. On the day of the auction most properties will be opened 1/2 hour prior to the auction for your inspection.

Occupied/Leased/Cooperative Properties

Some of the properties are occupied. These properties will be sold subject to any occupancies. Every reasonable effort will be made to make occupied or unoccupied properties open for inspection prior to auction day, on the days and times stated herein; however, no sale will be contingent upon inspection of properties after the auction. All leased properties will be sold subject to existing leases. Occupied properties will be sold subject to tenant's rights according to state and local statutes. All Cooperative buildings will be sold subject to the approval of the respective Cooperative boards.

Auction Information

For information on any properties within this public offering, you may contact the auction company at (800) 468-8366. Hours of operation are: Monday thru Friday 9:00am to 5:00pm.

Inclement Weather

In the case of severe weather on auction day, call (800) 468-8366 to confirm that the auction is still on schedule. More than likely, the auction will take place rain or snow.

DID YOU KNOW?...

That 35% Of All Real Estate Sold In This Country Is Sold Through Real Estate Auctions!!!

WHY AN AUCTION?...

There are several unique advantages to using the Auction Method:

NO CONTINGENCIES, QUICK SETTLEMENTS!

WHAT ARE THE COSTS?...

No Hidden Costs: Buyers Premium & $1,800 Registration Fee THAT'S IT!

IS THE AUCTION METHOD FOR YOU?...

If You Are... Motivated To Sell Your Property, Tired Of Waiting For The Right Buyer, Ready For Non-Contingent Contracts, Flexible In Your Pricing & Excited about a 30 Day Settlement: THE AUCTION METHOD IS FOR YOU!

WHEN SHOULD YOU REGISTER?... RIGHT NOW!!