120 Acres Land, Greene County, Arkansas
To participate in this auction, you must sign these terms and conditions and provide a bank letter of approval. By signing and returning this agreement to SOLDasap.com, or an employee or contractor therein you confirm the following:
1. I understand that if I am the successful bidder, I will be required to sign the agreement of purchase and sale immediately upon notice of being the successful bidder. I understand that it is a legally binding contract. A copy of a sample contract has been provided. If you require your attorney to approve the contract, it must be done prior to bidding.
2. I understand that a 10% buyer’s premium will be added to my final bid and is due in addition to my final bid to complete the final purchase price. Final bid + 10% of the final bid = Contract Sales Price.
3. I understand that the Auctioneers are working for the Seller, there is no relationship of dual agency.
4. I understand that the purchase price of the property will become public information immediately following the auction and that this information may be published.
5. I understand that the property has or has not been surveyed for this auction. I understand that if the buyer desires a full survey, it will be at the buyer’s expense. NO SURVEY PROVIDED.
6. Gearheads (The electric or gas powered unit used to extract water from the well), if any, on the property do not convey with the property.
7. Buyer to receive sellers share of income for crops planted and harvested for 2024.
8. I inspected the property prior to bidding, or had the opportunity to do so. I understand that all property is selling AS IS, WHERE IS and No warranties are expressed or implied. Buyer is invited and encouraged to inspect the property prior to bidding.
9. The seller nor the auction company are not responsible for clean-up of the property or responsible for haul off of unwanted or leftover personal property, if any.
10. I understand that I may obtain financing on this property however this contract is not contingent upon my ability to obtain financing or any other reason. Upon becoming the high bidder, I understand that I will be required to furnish a cashier's check in the amount of: $20,000 made payable to SOLDasap, LLC as an earnest money deposit. I understand that the earnest money deposit would be forfeited if I failed to close on this property. The final bid on the property is irrevocable.
11. I understand that the closing will take place not more than 45 days from the date of the auction, sooner if buyer and seller agree. Time is of the essence.
12. I understand that the Auctioneer reserves the right to conduct the auction in an orderly fashion, without interference or nuisance. Conduct of the auction and increments of bidding are at the sole discretion of the auctioneer. In case of a dispute among competitive bidders, the auctioneer may reopen bidding to identify the high bidder or may declare on as the successful bidder. Any and all decisions by the auctioneer shall be final. The auction company is not responsible for missed bids or any technical difficulties such as lost internet connection, computer malfunction on the buyer's or Soldasap, llc’s end 13. I understand that the announcements made by John & Tasabah Malone, at the time of sale, take precedence over any and all pre printed advertising or material. I also understand that announcements & preprinted material referring to the property description, utilities, property conditions, survey, square footage, acres, footage or school district are believed to be correct but are not guaranteed. If I wish to know these details, I must verify them on my own prior to bidding.
14. I understand that if this property is sold subject to confirmation by the sellers, trustees, executors, administrators, or any applicable party. Auctioneers have 48 hours to present the high bid offer to the seller for confirmation. I understand that my bid is irrevocable.
15. I understand that the buyer will pay the buyer's closing cost and sellers will pay the seller's closing cost.
16. Preliminary title work is being done by Priority Title, Paragould. Buyer shall have the right to review a commitment to provide title insurance prior to Closing. If title issues occur and the seller is unable to provide marketable title, the seller shall have a minimum of 30 days to cure the objections. Preliminary Title Work will be completed with the title company of sellers choosing. Marketable Title will be provided. Seller will provide seller's title insurance.
17. Taxes will be prorated as of closing and paid by the seller. Taxes will be up to date.
Revenue Stamps will be split between buyer and seller.
18. I understand that if I fail to sign the purchase agreement immediately upon notice of being the high bidder, I will lose my rights to purchase the property, the auctioneer & seller will have the right to reopen the bidding, sell the property to another bidder & I will pay the auction company 10% of my final bid.
19. I understand that the collusion or bid-rigging is a federal felony.
20. I understand that participation in the auction is at Bidder’s sole risk and Seller and Auctioneer, plus their agents, contractors, and employees, shall have no liability on any basis.
21. By registering, I acknowledge receipt of the Terms of Auction and access to the Sale Contract and unconditionally and irrevocably agree to be bound by both.
22. Copyright: I understand the Auction is the exclusive intellectual Property of the Auctioneer and may not be recorded, reproduced or used in any form by anyone other than by Soldasap, LLC
23. No commission will be paid to an agent or broker who is participating in the purchase of the property as a principal. Registration of agents/brokers by other agents/brokers will not be accepted.
24. EXTENDED BIDDING DYNAMIC CLOSING: If a bid is entered within the last 5 minutes of the closing of the auction, the closing time will be extended by 5 minutes to ensure sufficient time of bidders to submit their bids. Extended Bidding will continue until no bids are placed within 5 minutes.
25. SOLDasap, LLC is required by law, AREC Regulation 10.12, to present ALL offers. Pre-Auction offers are welcome. Seller has the right to accept or reject any offers.
