Terms for Real Estate:
One Property Source and Auctioneer are agents for the Seller. Real estate is subject to confirmation. Any inspections must be made prior to the auction. Property sold “AS IS”. Buyer is responsible for performing their due diligence prior to bidding at the auction. 10% Buyer’s premium will be added to the last and highest bid, Total will be contract price. A $5,000.00 non-refundable down payment in certified funds or cash due at close of the auction. Balance due within 30 days or closing. As successful bidder, you will be required to sign all purchase contracts immediately . Buyer is Guaranteed a Free and Clear Marketable Title from the Seller.
*Showings by appointment only.
Broker Participation Invited – Pre Auction Offers will be Entertained
Auctioneer, Bidder, and Buyer agree to be bound by these terms for this auction:
These terms control this auction in all regards and supersede all pervious announcements, advertisements, and published information, however distributed, except for any announcements made by Auctioneer at the auction, which will take precedence and be controlling in all instances.
Auctioneer has been hired by Seller to act as Seller’s agent in conducting the auction, and Auctioneer is not serving as an agent for Bidder or any Buyer.
Bidder must register with Auctioneer before bidding. Proper identification will be required.
Auctioneer may, on behalf of the seller, bid on items with reserve (up to the reserve amount).
Auctioneer reserves the right to refuse to register any prospective bidder for any reason, and to require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism, or disruption will be prosecuted to the fullest extent of the law.
Bidder should carefully guard his bidding number to avoid unauthorized purchases for which Bidder will be responsible.
Catalogs and brochures are guides only based on information from sources believed to be reliable, but their accuracy cannot be guaranteed or warranted. Auctioneer will not be liable for any errors or omissions.
***PERCENT BUYER’S PREMIUM ( 10% ) *** IS IN EFFECT FOR THIS AUCTION. This means a surcharge of ( 10% ) will be added to the amount of the highest bid for each lot to determine the final selling price for that lot.
Auctioneer reserves the right to withdraw any lot, or portion of a lot from the auction or to cancel the entire auction without notice or liability to Auctioneer or Seller.
Each lot will be sold AS IS, WHERE IS with all defects and faults, and no warranties or guarantees of any kind will be given by Seller or Auctioneer, including no warranty of fitness, merchantability, or suitability. Bidder should carefully inspect each lot to determine condition and contents. Bidder acknowledges that all lots were available for inspection prior to the auction and that he relied solely on his own inspection of the lots and not on any information listed in the catalog or otherwise provided by Auctioneer, the auction staff, or Seller.
ALL SALES ARE FINAL WITH NO REFUNDS FOR ANY REASON.
The highest bidder for a lot recognized by Auctioneer will be the Buyer, subject to the satisfaction of any reserve amount for that lot. A lot is sold when the Auctioneer indicates it in customary manner. Bidder agrees without exception that if he is the highest bidder for a lot and it is sold to him, an enforceable contract of sale is immediately formed, and no further writing of any kind will be required from him to satisfy any decision, principle, rule, statute, or other requirement in law or equity which the parties specifically waive and disclaim.
Should a dispute arise, the decision of the Auctioneer will be final. Bidder is encourged to make bids clearly visable to Auctioneer to avoid being missed. Auctioneer may determine acceptable increments to advance the bidding.
Ownership, possession, and the risk of loss from any cause pass immediately to Buyer when Auctioneer announces the sale of a lot. BUYERS ARE SOLELY RESPONSIBLE FOR THEIR PURCHASES, and Seller and Auctioneer will have no responsibility for lost, stolen, or damaged lots.
ALL PURCHASES MUST BE PAID FOR IN FULL BY THE END OF THE AUCTION WITHIN TERMS POSTED. CASH/CERTIFIED CHECKS. Legal actions will be instituted to collect any unpaid accounts, and Buyer agrees to pay all cost of collection, including reasonable attorney’s fees.
ALL TITLE WORK PROVIDED BY RESPECTIVE SELLER. AUCTIONEER ACCEPTS NO RESPONSIBILITY WHATSOEVER REGARDING TITLES.
Persons attending the auction understands that the auction and site may pose both obvious, hidden, and unknown dangers, defects, and other perils, and each person assumes the risk of all injury, loss, and/or death from any cause whatsoever, and Auctioneer and Seller will have no liability whatsoever. Bidder agrees to indemnify Auctioneer and Seller and hold them harmless for any injury, death, or another damage to person or property at the auction site which was caused by Bidder.
Except for announcements made pursuant to paragraph 1 of these terms, the terms may not be amended in any way, except by a signed, written agreement between Auctioneer and Bidder.
This agreement will be construed and governed in accordance with the laws of North Carolina, and that the exclusive venue for any controversy or claim between them will be in the Mecklenburg County Courthouse – 832 East Fourth Street, Charlotte, North Carolina
Bidder agrees that any controversy or claim arising out of this auction, or any related dealings with Auctioneer or Seller, must be resolved by final and binding arbitration, with no appeal permitted, except as provided by statute, and conducted in accordance with Uniform Commercial Code. The parties voluntarily waive their rights to seek traditional remedies in any court, including the right to a trial by jury. The prevailing party will be entitled to collect from the other it costs associated with the arbitration, including reasonable attorneys’ fees. Notwithstanding this requirement for binding arbitration, the parties agree Auctioneer and Seller retain their right to pursue a traditional lawsuit against any Buyer for the collection of any payment due them by the Buyer for any purchase at the auction, and it is agreed that in that event the defaulting bidder will be responsible for all of the Auctioneer’s and/or Seller’s costs of collection.
Bid rigging is a very serious crime and any illegal conduct by bidder, or others, will be immediately reported by Auctioneer to the U.S. Attorney and Department of Justice for investigation and prosecution to the fullest extent of the law. Title 15, Section 1 of the U.S. Code provides any agreement among potential bidders not to bid against one another, or otherwise to dampen the bidding process, is a felony under federal law.
REGISTERING TO BID OR ATTENDING THE AUCTION INDICATES FULL UNDERSTANDING AND ACCEPTANCE OF THESE TERMS, ALONG WITH THE AGREEMENT TO BE SO BOUND.