Extended Bidding: 2 minutes past the last bid submitted. (If a bid is placed in the final 2 minutes the bidding extends by 2 minutes)
Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction.
1. Agreement of Purchase and Sale
Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement.
2. Buyer's Premium
A 10% buyer's premium will be added to the high bid price to determine the total contract sales price for the Property.
3. Bid Deposit / Authorization
A $1000.00 credit card authorization will be processed when submitting your first bid at this auction. This authorization is not actually charged to your card. If you are the winning bidder any payment you make for your purchases will be by wire transfer/certified check. If you are not the high bidder, there will be no charges against your account. If you are the high bidder and do not contact Enlisted Auctions your card may be charged $1,000 with the remaining $24,000 deposit still due. Legal action may be taken by Enlisted Auctions to collect the full $25,000 deposit owed.
4. Auction Ending
Beginning at the stated closing time, the auction software will close the bidding. If a bid is placed in the last 2 minutes of the auction, bidding will automatically extend for an additional 2 minutes.
5. Payment and Closing
The Purchaser shall pay an Ernest Money Deposit of $25,000 to Enlisted Auctions by 5:00 PM EST following the conclusion of the auction. Enlisted Auctions will only accept payment by wire transfer or certified check. This deposit will remain in escrow until the date of closing. The Purchaser shall pay the remainder of the total contract sales price at the real estate closing. Closing shall take place within 45 days of the conclusion of the auction.
6. Escrow Agent / Closing Attorney
The buyer may use the title agency / closing attorney of their choosing for the closing. The title agency / closing attorney will schedule and conduct the real estate closing.
7. No New Survey
The Property shall be conveyed to the Purchaser according to the existing legal description. Neither the Auctioneer nor the Owner has ordered a survey of the Property. Neither the Auctioneer nor the Owner shall be obligated to order a survey of the Property.
Owner does guarantee a clear, transferrable deed for the property.
9. Title Insurance
The Purchaser may obtain an owner's title insurance policy in the amount of the purchase price from the Escrow Agent / Closing Attorney at the Purchaser's sole cost and expense and subject to Owner and Purchaser complying with all requirements of the title company. Alternatively, the Purchaser may procure title insurance from a title insurance company of its choice, at its sole cost and expense
10. Real Estate Taxes and Assessments
Real estate taxes and assessments shall be pro-rated to the date of Closing.
11. Sale is NOT contingent on Financing
Sale is not contingent on Purchaser's ability to obtain financing. Purchaser may purchase the property with a loan, but the sale shall not be contingent on the Purchaser’s ability to secure financing.
The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any.
13. As-Is, Where-Is Sale
The Purchaser shall accept the property in an as-is, where-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Owner has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was provided by the Owner and is believed to be correct; however, neither the Owner nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information.
All due diligence is the bidder's responsibility. By placing any bid in this auction, you represent that you have conducted all due diligence you believe to be necessary or appropriate to enable you to make an informed decision about whether to bid on the Property.
15. No Personal Property
No personal property shall be conveyed to the Purchaser at Closing unless otherwise specified in the auction information.
16. Agency Disclosure: N/A
All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Auctioneer reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.
18. Equal Opportunity Clause
All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser's race, color, religion, sex, familial status, national origin, or physical handicap.
19. Guaranty Agreement
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
20. Age Requirement
All bidders must be 18 years of age or older.
21. Bidder Information and Security
All registration information the bidder provides to Enlisted Auctions shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding name and passwords. Bidders must notify Enlisted Auctions if they believe that their bidder number and password have been compromised before the close of the auction.
Bidder must register online at Enlistedauctions.com, or by downloading the Enlisted Auctions App at either the Apple App store or Google Play to participate in the auction. Read the descriptions and view photographs carefully. If you have any questions, please call Enlisted Auctions at 540-337-3446. Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are NOT prepared to make the required Earnest Money Deposit, execute the required documents, and close within the timeframe stated (45 days), please do not bid. The property is sold AS-IS. All sales are final. A bid is a binding contract between Bidder and Auctioneer/Seller. Bidder is accountable to be informed about property and associated costs before bidding. A maximum bid can be placed on the property. A maximum bid is kept confidential. Except for properties noted “Absolute Auction” all properties in auctions have a minimum selling price established by Seller (“Reserve Price”). The starting bid is not the Reserve Price. Except where prohibited by law, Auctioneer may counter bid on behalf of Seller on any property up to the amount of the Reserve Price (and no such bid will result in a sale of the property). If the Reserve Price is not met, Seller is under no obligation to sell the property; however, Seller may accept a bid that is below the Reserve Price in its sole discretion. Auctioneer reserves the right to reopen bidding. Auctioneer’s decisions will be final.
23. BIDDING IN THE ONLINE AUCTION:
Once you are registered and have your username and password, you may place bids once the bidding opens. Your bids are FINAL and constitute a binding contract. You are responsible for monitoring these close times. Please bid early to avoid disappointment. No transfer will be recognized from one buyer to another. In the event of any dispute between bidders, or in the event of doubt on the Auctioneer’s part as to the validity of any bid, the Auctioneer will have the final discretion either to determine the successful bidder or to resell the property. If or when the Auctioneer announces “Sold,” equitable title or ownership shall pass to the highest bidder acknowledged by the Auctioneer, subject to fulfillment by Bidder of all the terms and conditions. Again, all property is sold “AS IS, WHERE IS,” and we make NO guarantees, warranties, or representations, expressed or implied, with respect to the property or correctness in any catalog or other description of authenticity of survey, acres, physical condition, size, quality, or historical relevance of the property or otherwise. No statement anywhere, whether oral or written, shall be deemed as a guarantee, warranty or representation. All sales are final. No refunds or credits will be issued. Earnest money deposit and closing will be announced and contained in the contract. The auctioneer reserves the right to withdraw any property before sale. The Auctioneer, its agents, the owners of the property and all other persons for whom the Auctioneer is acting shall not be liable to any person for damages to their person or property while in, on, or about these premises, nor shall they be liable for any hidden defects. Bidder acknowledges that hardware malfunctions, software malfunctions, viruses, and similar issues do occur and are beyond the knowledge, scope, and control of Auctioneer. Enlisted Auctions is not responsible for failing to execute offers due to participants' technological difficulties.
24. Technical Issues: Neither the company providing the software, nor Enlisted Auctions shall be held responsible for a missed bid or the failure of the software to function properly for any reasons. In the unfortunate event of a Distributed Denial of Service [DDOS] attack or server attack/shut down, Enlisted Auctions reserves the right, but is not required, to extend bidding time. To minimize the chance of being affected by internet or software issues, please use the "Max Bid" feature