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LIBERTY AUCTION & REALTY ONLINE AUCTION BIDDING TERMS
Terms Day of sale: A 20% Earnest Money Deposit day of sale, balance at closing.
All information was derived from sources believed to be correct but not
guaranteed.
A 10% Buyers Premium will be added to final bid to reach
total contract price.
This property is selling with 'OWNER'S
CONFIRMATION' by which term is meant that the seller(s) will have the right to
Accept or reject the final bid.
ONLINE AUCTION TERMS:
Agency
Disclosure: Liberty Auction and Realty is acting as agent for the seller.
PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED IN THE PURCHASE
CONTRACT. PLEASE READ AND REVIEW THE CONTRACT THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE CONTRACT FOR SALE OF REAL ESTATE, DO NOT BID.
AUCTION END TIMES: Liberty Auction & Realty Online Auctions
are timed events and all bidding will close at specified time. Liberty Auction &
Realty Online Auctions also have an auto extend feature. Any bid placed in the final
5 minutes of an auction, the auction ending will be automatically extended 5 minutes
from the time the bid was placed. Example: if an auction scheduled to close at 6:00
receives a bid at 5:59, the close time will automatically extend 6:04. The auto
extend feature remains active until no further bids are received within a 5 minute
time frame.
REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES
OF THE BIDDING
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there
are technical difficulties related to the server, software or any other online
auction-related technologies, Liberty Auction & Realty reserves the right to extend
bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING
THE SOFTWARE nor LIBERTY AUCTION & REALTY SHALL BE HELD RESPONSIBLE FOR A MISSED BID
OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email
notifications will be sent to the email address provided in your registration with
updated information as deemed necessary by Liberty Auction & Realty.
TERMS: 20% of the final bid price as nonrefundable earnest money in
the form of a certified check, within 72 hours of the close of auction, with the
balance of purchase price due at closing with shall be completed within 30 days.
Purchaser shall be responsible for any currency exchange fees to US dollars. Closing
will be as specified in the Contract for Sale of Real Estate. This online only
auction is a CASH SALE not contingent on or subject to financing, appraisal, survey
or inspections of any kind, as agreed to by bidders at registration prior to bidding
and specified in the attached Contract for Sale of Real
Estate.
DEED: Good Insurable Deed at
Closing.
BUYER’S PREMIUM: There will be a buyer’s premium of 10% added
to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus
$10,000 (10% buyer’s premium) equals TOTAL purchase price of
$110,000.
AUCTION BIDDER DEFAULT: Successful bidder not executing and
returning the contract with earnest money deposit within 72 hours of the conclusion
of the auction will be considered in default. In the event a winning bidder fails to
submit the signed Contract for Sale of Real Estate and earnest money deposit, the
winning bidder will be charged a penalty fee of $3,000.00 on the credit card provided
at auction registration. Additional default remedies are reserved by Liberty Auction
& Realty and the Seller as provided in the Auction Terms and Conditions and the
Contract for Sale of Real Estate. Liberty Auction & Realty reserves the right to sell
to the second-highest bidder in the event the successful high bidder does not comply
with the terms of the sale.
Any dispute between Liberty Auction &
Realty, its Agents or Representatives and the Buyer(s) will be tried in a court of
jurisdiction in Henderson County, Tennessee. By bidding on the property, buyer agrees
to all terms and conditions set forth.
Acceptance of Bid Prices:
Successful bidder(s) will be required to enter into a purchase agreement immediately
following the close of the auction. Liberty Auction & Realty will e-mail documents to
be executed and fax or e-mail back to Liberty Auction & Realty within 72 hours of the
end of the auction. Successful bidders not executing and returning contracts with
earnest money deposit within 72 hours will be considered in default. Any and all
inspections that a buyer may want must be done at buyer’s expense prior to the close
of the online bidding.
Title: As specified in the Contract for Sale of Real Estate
Deed: As specified in the Contract for Sale of Real Estate
Possession: Will be given with Delivery of Deed.
Real Estate
Taxes and Closing Cost: All taxes will be prorated to day of closing using the most
current available year’s tax amount. 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.
Easements: Subject to any and all easements of record.
Zoning: This property is subject to all state and local zoning ordinances.
Disclaimer: All properties are being sold 'as is, where is'. We encourage bidders to do property inspections and rely upon their own conclusions. All information is deemed reliable, but is not guaranteed. All information is believed to be correct to the best
of the auctioneer's knowledge.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Liberty Auction & Realty will reject the registration, and bidding activity will be terminated. The Seller and Liberty Auction & Realty reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their user-name and password confidential as they are responsible for ANY and ALL activity involving their account. 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.
Agency: Liberty Auction & Realty, Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Liberty Auction & Realty, its Agents, and Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
NEW DATA, CORRECTIONS, AND CHANGES: Please check for
updated information prior to scheduled auction time to inspect any changes,
corrections, or additions to the property information. Disclaimer & Absence of
Warranties: All information contained in this information packet and all related
materials are subject to the terms and conditions outlined in the Contract for Sale
of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis,
and no warranty or representation either expressed or implied, concerning the
property is made by the Seller or Liberty Auction & Realty, Agents or
Representatives. All sketches and dimensions in the brochure are approximate. Each
potential bidder is responsible for conducting his or her own independent
inspections, investigations, inquiries, and due diligence concerning the property.
The information contained in the brochure and on the website is subject to
verification by all parties relying on it. No liability for its accuracy, errors, or
omissions is assumed by the Seller, Liberty Auction & Realty, Agents or
Representatives. Conduct of the auction and increments of bidding are at the
direction and discretion of the Auctioneer. All decisions of Liberty Auction & Realty
are final.
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