TERMS:

Auction Terms

1. The property will be sold at Public “Online Only - Internet Auction” ending Monday, July 11, 2016, 2:01 PM, Mountain Time.

2. To be approved as an online bidder, a signed copy of this “terms and conditions” along with a signed bidders certification must be received and approved by the auction office. Bidders may be subject to a deposit in order to participate. The deposit is fully refundable to non-winning bidders. Bidders must provide a photocopy of a valid state-issued identification.

3. This auction employs a “soft close”, meaning that any bids received in the last five minutes of the auction will extend the auction another five minutes. This process will continue each time a new bid is received, and will not close until no new bids have been received for more than five minutes.

4. The Bidder is exclusively and solely responsible for any and all bids placed through their registered bidder ID. Bidders must not share or disclose their passwords to anyone.

5. The property will be sold subject to Seller’s Confirmation. The seller reserves the right to reject any and all bids at any time. The "reserve" or minimum bid will not be publicly disclosed.

6. Bidding increments shall be determined at the sole discretion of the auctioneer, and will be posted on the bidding website.

7. This property sells with no contingencies. The Bidder expressly agrees that the bidder has inspected the property, is aware of the flaws, if any, and is fully prepared to pay for this purchase in full at time of closing.

a. The sale shall not be contingent upon the sale of any other property, nor shall it be contingent upon financing in any manner.

b. Bidder assumes all liability for the inspection process, including releasing the seller and the auctioneer from any claim of injury or harm during the inspection.

c. A failure by the bidder to inspect the property shall not be grounds to terminate or void any contracts.

8. This property sells “As-Is” with no warranties expressed or implied, unless specifically stated.

9. Property included in the sale is the real estate only, or as listed in the property description. Unless specifically listed, no personal property will transfer with the sale of the real property.

10. The auction is subject to prior sale (the property can be sold prior to the end of the auction), without recourse to the bidder.

11. The seller reserves the right to cancel the auction at any time prior to the final bid closing.

12. Buyers Premium:

a. A ten percent (10%) buyer’s premium will be added to the final, accepted bid and charged to the buyer to determine the final sales price. For example, a top bid of $500,000, plus a 10% Buyer’s premium of $50,000 will result in a sales price of $550,000.

13. The successful bidder must pay a down payment (earnest money) within 24 business hours of acceptance of the auction contract by the Sellers. The amount of this down payment (earnest money) shall be ten percent (10%) of the final sale price, which is the sum of the final accepted bid plus the buyer’s premium. In the example above, the down payment would be in the amount of $55,000. The actual down payment will be determined by your top bid plus 10%. The down payment will be payable to North American Title. Payment may be made by direct wire transfer, or hand-delivered certified funds.

14. The down payment deposit will be non-refundable; your bidding is not conditional upon financing, so be sure you are prepared to pay cash at closing or have arranged your financing prior to bidding. The balance of the purchase price including the buyer’s premium will be due via a wire transfer, or certified funds made payable to the closing company and upon delivery of insurable title, on or before closing.

15. The property will be conveyed by a General Warranty Deed.

16. The seller agrees to furnish buyer(s) with an owner’s policy of Title Insurance Policy at closing.

17. Real Estate Taxes: the taxes will be prorated to the day of closing.

18. Closing:

a. Closing shall take place at the office of: North American Title Company, location to be determined by mutual agreement. (Closing may be performed via mail or other means)

b. Closing fees will be paid by the buyer.

c. Closing will be held on or before 3:00 PM, August 12, 2016

19. Possession will be granted upon closing.

20. The successful Bidder shall execute a “Real Estate Auction Sales Contract” for the property immediately after being declared the Successful Bidder by the Auctioneer. Bidders will be required to read and acknowledge this contract before bidding.

21. Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations, and due diligence concerning the property.

a. The property sells as-is with no warranties expressed or implied.

22. United Country – Schur Success Realty & Auction, LLC, and their representatives are exclusive agents of the Seller. There is no buyer’s agency. There is no duty from the Auctioneer to the buyer.

23. All announcements made up to the final close of the Auction bidding take precedence over all advertising, oral or printed material.

24. All marketing information and Property Information Packet (PIP) materials were gathered from reliable sources and are believed to be correct as of the date they were published; however the seller or auctioneers have not independently verified this information. Auction plats and drawings are not to be relied on and are for representation purposes only. Its accuracy is not warranted in any way. There is no obligation on the part of the sellers or auctioneer to update this information.

25. The Bidder waives any claims against the Seller; and the Auctioneer, his agents, employees, or assigns, for a failure of the electronic bidding technology in any manner, including the failure of the system to accept, process, or register a bid.

To obtain documents, or to register and bid, contact our office at 866-290-2243.