Rowell Auction Terms (GEORGIA)
Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.rowellauctions.com. Please read and review the contract thoroughly prior to bidding on the property. If you have not read and reviewed the Contract for Sale of Real Property, Please Do Not Bid!
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Seller has the right to sell any properties prior to the close of auction.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.
Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Example: Rowell Auctions, Inc. Online Only Real Estate Auctions have a “Dynamic Close” auto extend feature. A bid placed within 5 minutes of the advertised auction end time will automatically extend the auction for an additional 5 minutes from the previous end time.
Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the “Dynamic Close” auction extension is activated and the close time of the auction automatically extends to 12:05 p.m. The “Dynamic Close” auto-extend feature remains active until no further bids are received on any of the properties in the entire bidding group of properties within the auto extend time frame at which time the auction will close.
Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Rowell Auctions, Inc. reserves the right reject the registration, and bidding activity is subject to termination.
Terms: At the close of the auction, successful bidder will be emailed the contract package to execute and return to Rowell Auctions, Inc. Successful bidder will deposit $2,500.00 or 10% of the contract price whichever is greater as earnest money in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price to determine the final contract price.
10% Buyer's Premium Example:
Bid Price: $100,000.00
Plus 10% Buyer's Premium: $10,000.00
Total Contract Price: $110,000.00
Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and return the package back to Rowell Auctions, Inc along with the required earnest money deposit within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed "Contract for Sale of Real Property" and the earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Seller and Rowell Auctions, Inc. and the as provided in the Auction Terms & Conditions and the "Contract for Sale of Real Property". All administrative fees are non refundable.
Closing: Time being of the essence, the sale shall be closed on or before July 23, 2024. The purchaser will pay for all closing costs associated with the transaction. Please refer to the Contract for Sale of Real Property, it is the document that governs the sale.
POSSESSION: Purchaser shall receive possession of the property at closing subject to any tenant rights. Some of the units/buildings are rented. BUYER agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid on the Seller’s behalf. On all auctions, auctioneer reserves the right to bid on auctioneer’s behalf as permitted by law.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidder for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. Bidder must conduct and rely solely upon their own investigations and inspections. The property is being sold "AS IS" with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
Pracht Auction Terms (SOUTH CAROLINA)
Contract for Sale of Real Property: The property is offered under the specific terms provided in the contract. The Offer to Purchase and Contract is available at www.prachtaution.net. Please read and review the contract thoroughly prior to bidding on the property. If you have not read and reviewed the Offer to Purchase and Contract, Do Not Bid!
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Seller has the right to sell any properties prior to the close of auction.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Chris Pracht Auctioneers. R&A, LLC has the sole authority to resolve any bidding disputes as they may arise.
Auction End Times: All Chris Pracht Auctioneers. R&A, LLC Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Chris Pracht Auctioneers. R&A, LLC reserves the right to adjust the auto extension time period.
Example: Chris Pracht Auctioneers. R&A, LLC Online Real Estate Auctions have an auto extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes in addition to the time remaining on the auction clock at the time the bid was placed.
Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the close time of the auction automatically extends to 12:05 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 5 minute time frame.
Chris Pracht Auctioneers. R&A, LLC reserves the right to adjust the auto extension time period.
Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Chris Pracht Auctioneers. R&A, LLC reserves the right reject the registration, and bidding activity is subject to termination.
Bidder MUST be available to be contacted by telephone at ANY time BEFORE, DURING and AFTER the Auction.
Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Chris Pracht Auctioneers. R&A, LLC Successful bidders will deposit 10% in
the form of cashier's check or bank wire transfer with Chris Pracht Auctioneers R&A, LLC Escrow Account within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Offer to Purchase and Contract”. Purchaser shall be responsible for all wire transfer fees.
POSSESSION: Purchaser shall receive possession of the property at closing subject to any tenant rights. Some of the units/buildings are rented. BUYER agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final contract price.
10% Buyer's Premium Example:
Bid Price: $100,000.00
Plus 10% Buyer's Premium: $10,000.00
Total Contract Price: $110,000.00
Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute, scan, email or hand deliver the package back to Chris Pracht Auctioneers R&A, LLC within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default.
Comas Montgomery Auction Terms (TENNESSEE)
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Seller has the right to sell any properties prior to the close of auction.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Real Estate Terms: Please Review All Online Terms Prior To Bidding. This sale has an auto-extend feature. 10% Buyers Premium added to the final bid price to determine final selling price. 10% down day of sale and balance due at closing. Must close on the property within 30 days after the auction or as it is stated on the contract for sale of real estate. Property information believed to be accurate but not guaranteed. Buyer should independently verify all information prior to bidding. Any house built prior to 1978 may contain lead-based paint. Any prospective buyer has 10 days prior to auction to complete any inspections. Announcements made day of sale take precedence over any previous advertising. Any items remaining on the property at closing shall be the buyer’s responsibility to remove.
1. Bidding Increments:
Each Comas Montgomery Realty and Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
2. Agency:
Comas Montgomery Realty and Auction Co., Inc., Agents and Representatives are agents of the Seller.
3. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price.
4. Auction Ending:
The auctioneer will have sole discretion when to close the bidding for this auction.
5. Time Increase or Decrease:
Comas Montgomery Realty and Auction Co., Inc. may increase or decrease the amount of time to place a bid for this auction.
6. Outbid Notification:
Bidders will need to watch their bidding screen to determine the current winning bid amount. Absentee bids may receive an email notice if outbid, but not guaranteed.
7. Property Information and Inspection:
Comas Montgomery Realty and Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty and Auction Co., Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Comas Montgomery Realty and Auction Co., Inc. are provided in good faith and are matters of opinion.
8. Auctioneer's Discretion:
Comas Montgomery Realty and Auction Co., Inc. has full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Comas Montgomery Realty and Auction Co., Inc. or the seller.
9. Server and Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty and Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty and Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty and Auction Co., Inc. THE ONLY GUARANTEE THAT YOUR BID WILL BE PLACED IS TO BE AT THE ACTUAL LIVE BIDDING EVENT!
10. Terms:
ONLINE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction (or next business day), with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. ON SITE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money IMMEDIATELY AFTER THE CLOSE OF THE AUCTION, with the balance of purchase price due at closing. Closing will be as specified in the Contract for Sale of Real Estate. This auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate under “documents” sections of the webpage.
11. Contract for Sale of Real Estate:
ONLINE BUYERS: The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed immediately following the close of the auction. ON SITE BUYERS: The contract is required to be executed immediately after the close of the auction.
12. Closing:
As specified in the Auction Day Contract for Sale of Real Estate.
13. Closing Costs:
Seller shall pay Seller’s side closing fee and document preparation fee. Buyer shall pay Buyer’s side closing fee and document preparation fee. Seller shall pay no closing costs for Buyer, including any lender's fees or recording fees unless otherwise agreed to in the Contract for Sale of Real Estate.
14. Property Condition:
Buyer specifically acknowledges herein that the property is being purchased "AS IS" and that neither the Seller nor Comas Montgomery Realty & Auction Company, Inc., makes any warranties or representations, express or implied, as to the habitability, condition, square footage, septic area, utilities, acreage or boundary lines of the real property conveyed herein. Seller is not responsible for any repairs.
15. Hold Harmless:
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty and Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
16. Disputes:
Any dispute between Comas Montgomery Realty and Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
17. Auction Bidder and/or Buyer Default:
Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit AS SPECIFIED IN PARAGRAPH 10 AND 11 will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning Bidder and or Buyer shall pay to Comas Montgomery Realty and Auction Company, Inc., as damages, an amount equal to the Buyer's premium or commission percentage, as set forth in said Contract, and any and all expenses incurred by the said Comas Montgomery Realty and Auction Company, Inc., for said auction. Should Buyer's earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Comas Montgomery Realty and Auction Company, Inc. Buyer shall also pay a reasonable attorney's fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer's default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney's fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Comas Montgomery Realty and Auction Company, Inc., that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Rutherford County, Tennessee. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, by the Bidder and or Buyer, is considered to be in default.
18. Auction Cancellation – Bid Rejection:
Comas Montgomery Realty and Auction Co., Inc. reserves the right to reject any and all bids for any reason. Comas Montgomery Realty and Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
19. Acceptance of Bid Prices:
ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED AS ABSOLUTE. The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Comas Montgomery Realty and Auction Co., Inc. will e-mail documents to be executed and faxed or e-mail back to Comas Montgomery Realty and Auction Co., Inc. immediately following the close of the auction. Successful Bidder and or Buyers not executing and returning contract immediately following the close of the auction and earnest money deposit within 24 hours (or next business day) will be considered in default. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Comas Montgomery Realty and Auction Co., Inc., Agents, Representatives or Employees may bid. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, additions or deletion.
20. Title:
As specified in the Contract for Sale of Real Estate
21. Deed:
As specified in the Contract for Sale of Real Estate
22. Possession:
As specified in the Contract for Sale of Real Estate
23. Real Estate Taxes and Closing Cost:
UNLESS OTHERWISE STATED IN THE CONTRACT FOR SALE OF REAL ESTATE, all taxes will be prorated to day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
24. Easements/Restrictions:
Subject to any and all easements and restrictions of record.
25. Zoning:
This property is subject to all state and local zoning ordinances.
26. Acreage and Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
27. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty and Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty and Auction Co., Inc. reserve the right to preclude any person from bidding. Comas Montgomery Realty and Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
28. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to Comas Montgomery Realty and Auction Co., or in their sole opinion detrimental to Bidding Activity, then Comas Montgomery Realty and Auction Co., reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the web site, you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence. Comas Montgomery Realty and Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
29. 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 earnest money payment to Comas Montgomery Realty and Auction Co., Inc.
30. Age Requirement:
All bidders must be eighteen (18) years of age or older.
31. Bidding Priority:
The auction company reserves the right to make live floor bidding a priority over all online bidding at any time during the auction.
31. By registering for this auction, you understand and expressly acknowledge that an inherent risk of exposure to COVID-19 exists in any public place where people are present. In attending the auction or preview, you and any guests voluntarily assume all risks related to exposure to COVID-19, and waive, release, and discharge Comas Montgomery Realty & Auction Co., Inc or any of their affiliates, directors, officers, employees, agents, contractors, or volunteers from any and all liability under any theory, whether in negligence or otherwise, for any illness or injury.
32. Seller reserves the right to accept an offer at anytime during this sale.
33. Any items remaining on the property at closing shall be the buyer’s responsibility to remove.
