BUYER’S PREMIUM: A five percent (5%) Buyer’s Premium will be added to the final bid price to determine the Total Contract Price, (Example: Such as $100,000.00 bid price plus five percent (5%) Buyer’s Premium ($5,000.00) equals $105,000.00 Total Contract price.
DOWN PAYMENT: A $1,000.00 earnest money deposit will be required from the successful bidder upon award of the bid. This can be in the form of a personal or business check.
NO CONTINGENCIES: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING SO BE SURE TO HAVE ARRANGED FINANCING, IF NEEDED, AND THAT YOU ARE CAPABLE OF PAYING CASH AT CLOSING. Buyers who are unable to close because of insufficient funds will be in default and the earnest money will be forfeited.
BIDDING PROCEDURE: NOMINAL OPENING BID OF $2,000.00 IS REQUIRED FOR THE AUCTION TO OPEN THE BIDDING. Upon receiving an opening bid of $2,000.00, the bidding will continue until the auction ends, subject to the automatic bid extend feature outlined in these terms and conditions.
REAL ESTATE TAXES: All real estate taxes for the year 2017 will be prorated as of the date of closing
CLOSING: The balance of the purchase price will be paid at closing in cash, collected or certified funds on or before June 29, 2017. The closing agent will be First American Title.
POSSESSION: Possession at closing.
AGENCY: Musser Bros. Inc., and its representatives (the “Auctioneers”) are the auctioneers and exclusive agents of the Seller regarding the sale of the property.
BROKER PARTICIPATION: Musser Bros. Inc. encourages Broker/Agent participation. To qualify for a two percent (2%) Buyers Agent Commission, all Agents must register their client 24 hours prior to the auction. Bring your buyers.
SUBJECT TO AUTO EXTENSION DUE TO BIDDING ACTIVITY
AUCTION END TIMES: All Musser Bros., Inc. Online Only Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Musser Bros., Inc. reserves the right to adjust the auto extension time period.
EXAMPLE: Musser Bros., Inc. Online Only Real Estate Auctions have an auto extend feature. Any bid placed within 3 minutes of the auction ending will automatically extend the auction for 3 minutes from the time the bid is placed. The auto-extend feature remains active until no further bids are received within the 3 minute time frame. Musser Bros., Inc. reserves the right to adjust the auto extension time period.
BIDDER VERIFICATION: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Musser Bros., Inc. will reject the registration, and bidding activity will be terminated.
INFORMATION: Information was gathered from reliable sources and is believed to be correct as of the date this material is published, however, this information has not been independently verified by sellers or auctioneers. Its accuracy is not warranted in any way. There is no obligation on the part of Sellers or Auctioneer to update this information.
ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. The sellers do not have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property except as expressly set forth in the Auction Sale Agreement. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through.
BY BIDDING, THE PURCHASER AGREES TO BE BOUND BY THE TERMS AND CONDITIONS HEREIN AND AS STATED IN THE PURCHASE CONTRACT