BROKER PARTICIPATION AGREEMENT
Real Estate Auction – 9294 W County Road 950 N Middletown, IN 47356
Saturday, November 22, 2025 • 10:00 AM
BURGESS AUCTIONS
"Trusted Auctions, Timeless Results"
LISTING INFORMATION
Listing Agent: Jason Snider, Licensed Realtor
Brokerage: J. Snider Real Estate
License: RB14045952
Phone: (317) 507-1692
Email: [email protected]
Property: 12.74 acres with 2,548 sq ft home and 2,400 sq ft outbuildings
MLS #: 22070425
Parcel ID: 003-00538-00
County: Henry County, Indiana
Opening Bid: $250,000
Buyer's Premium: 10% (added to winning bid)
Sale Type: Subject to owner confirmation
PARTICIPATION TERMS
Commission Structure
- Selling Agent Commission: 3% of winning bid price
- Payment Source: Buyer's premium funds
- Minimum Commission: Based on $250,000 opening bid = $7500 minimum
Registration Requirements
Participating brokers must:
- Hold current Indiana real estate license
- Register with listing agent prior to auction day
- Provide copy of current license and MLS participation
- Sign this participation agreement
Client Representation
- Participating broker must have signed buyer representation agreement
- Broker responsible for client's pre-qualification and funds verification
- Broker must accompany client to auction or authorize client in writing
AUCTION PARTICIPATION RULES
Pre-Auction Requirements
- Register by: Friday, November 21, 2025 at 5:00 PM
- Submit: Signed participation agreement and license copy
- Client Information: Buyer's name and contact information
- Proof of Funds: Evidence client can complete purchase
Auction Day Protocol
- Check-in: 9:00 AM at property location
- Client Registration: Broker responsible for client bidder registration
- Bidding Authority: Client must be present or provide written authorization
- Purchase Agreement: Broker assists client with contract execution
COMMISSION PAYMENT
Payment Terms
- Amount: 3% of winning bid price
- Calculation: Winning high Bid × 3%
- Payment: At closing through title company
- Title Company: Fidelity National Title
Example Commission Calculation
- Winning Bid: $275,000
- Buyer's Premium (10%): $27,500
- Total Purchase Price: $302,500
- Selling Agent Commission: $8250.00
BROKER RESPONSIBILITIES
Client Preparation
- Explain auction process and terms to client
- Ensure client understands AS-IS conditions
- Verify client's financing/cash availability
- Review all auction terms and purchase agreement
Documentation Required
- Signed buyer representation agreement
- Pre-qualification letter or proof of funds
- Completed broker participation agreement
- Current license verification
Auction Day Duties
- Accompany client or provide written authorization
- Assist with bidder registration
- Support client during bidding process
- Help complete purchase agreement if client wins
AUCTION TERMS ACKNOWLEDGMENT
Property Conditions
Participating brokers acknowledge:
- Property sold "AS-IS, WHERE-IS"
- No warranties or guarantees
- $25,000 non-refundable deposit required
- 30-day closing timeline
- 10% buyer's premium added to winning bid
No Contingencies
- No financing contingencies
- No inspection contingencies
- No appraisal contingencies
- Time is of the essence
BROKER PROTECTIONS
Commission Security
- Commission earned upon client's successful bid
- Payment guaranteed through closing process
- Protected by signed purchase agreement
MLS Cooperation
- Participation respects MLS cooperation rules
- Commission sharing per MLS standards
- Professional courtesy maintained
LEGAL PROVISIONS
Governing Law
- Agreement governed by Indiana real estate law
- Subject to Indiana Real Estate Commission rules
License Requirements
- All participants must maintain current licenses
- Compliance with state and local regulations required
Dispute Resolution
- Disputes resolved through Indiana Association of Realtors procedures
- Mediation preferred for commission disputes
REGISTRATION PROCESS
To Participate:
- Complete this broker participation agreement
- Email signed agreement and license copy to: [email protected]
- Include client information and proof of funds
- Confirm receipt with listing agent
- Attend auction with registered client
Contact for Registration:
Jason Snider
Phone: (317) 507-1692
Email: [email protected]
IMPORTANT DEADLINES
- Registration Deadline: Friday, November 21, 2025 at 5:00 PM
- Internet Bidding Opens: Friday, November 21, 2025 at 10:00 AM
- Auction Date: Saturday, November 22, 2025 at 10:00 AM
- Closing Deadline: January 6, 2026 (45 Days maximum)
BROKER AGREEMENT
Participating Broker Information:
- Broker Name: ________________________________
- Brokerage: ________________________________
- License Number: ________________________________
- Phone: ________________________________
- Email: ________________________________
Client Information:
- Buyer Name: ________________________________
- Contact: ________________________________
- Financing Status: ________________________________
Broker Acknowledgments:
By signing below, participating broker acknowledges:
- Having read and understood all auction terms
- Understanding commission structure and payment terms
- Agreeing to represent client's interests professionally
- Accepting responsibility for client preparation and education
- Understanding property is sold AS-IS with no contingencies
- Agreeing to cooperate with listing agent and auctioneer
Broker Signature: ________________________________ Date: _________
Print Name: ________________________________
Brokerage: ________________________________
Listing Agent Acceptance:
Jason Snider Signature: ________________________________ Date: _________
ADDITIONAL NOTES
- Multiple clients per broker acceptable with separate registrations
- Commission applies only to registered clients
- Late registrations accepted at listing agent's discretion
- Questions encouraged before auction day
"Integrity in Every Lot. Care in Every Sale."
BURGESS AUCTIONS
Zack Burgess CAI, AU19600029
45 W Carey St
Knightstown, IN
Office: 765-445-7814
Mobile: 317-508-5973
[email protected]
www.burgessauctions.com
Trusted Auctions, Timeless Results
AUCTION TERMS AND CONDITIONS
9294 W. County Road 950 N., Middletown, IN. 47356
Saturday, November 22, 2025 • 10:00 AM
BURGESS AUCTIONS "Trusted Auctions, Timeless Results"
AUCTION FORMAT
Live Auction with Simulcast Internet Bidding
• On-site bidding at property location
• Real-time online bidding platform available
• Internet bidding opens 24 hours prior (Thursday, November 22, 2025, at 10:00 AM)
• Opening Bid: $250,000
REGISTRATION REQUIREMENTS
Live Bidders
• Registration begins at 9:00 AM on auction day
• Valid photo identification required
• Bidder numbers assigned at check-in
Internet Bidders
• Pre-registration required online
• Valid photo identification and credit card verification
• Stable internet connection required
DEPOSIT AND PAYMENT TERMS
A 10% ten-percent buyer’s premium will be added to the final bid price, to determine the final offer to purchase price.
Down Payment
• Amount: $25,000 (Twenty-Five Thousand Dollars)
• NON-REFUNDABLE under all circumstances
• Payment Method: Wire transfer to Fidelity National Title
• Due Date: Monday, November 24, 2025
Balance Payment
• Amount: Total purchase price minus $25,000 deposit
• Payment Method: Certified funds or wire transfer at closing
• Closing Deadline: (by January 6, 2026)
• Cash buyers may close within 1-2 weeks
PROPERTY CONDITION
AS-IS SALE
• Property sold in current condition "AS-IS, WHERE-IS"
• No warranties, guarantees, or representations regarding:
o Condition or habitability
o Fitness for any particular purpose
o Compliance with codes or regulations
o Systems functionality
INSPECTION ACCEPTANCE
• Buyers acknowledge having full opportunity to inspect property
• All defects accepted, whether known or unknown, visible or latent
• No repairs will be made by seller prior to closing
FINANCING AND CONTINGENCIES
NO CONTINGENCIES
• No financing contingencies - buyer must close regardless of loan approval/denial
• No inspection contingencies
• No appraisal contingencies
• No sale of other property contingencies
Financing Responsibility
• Buyers responsible for arranging all financing prior to auction
• Failure to obtain financing does not excuse buyer performance
• Cash purchases encouraged for faster closing
TAX RESPONSIBILITY
Seller's Obligation
• Seller has paid 2025 real estate taxes due in November 2025
• Seller current on all tax obligations through November 2025
Buyer's Obligation
• Buyer responsible for all taxes due after November 2025, including:
o 2025 taxes due in May 2026
o All subsequent annual tax payments
o Any special assessments levied after closing
No Tax Proration
• No proration of taxes between buyer and seller
• Clear division at November 2025 payment date
TITLE AND CLOSING
Title Requirements
• Title Company: Fidelity National Title
• Seller provides owner's title insurance policy
• Property conveyed free and clear of liens (except standard easements)
• Deed Type: General Warranty Deed
• Recording: At buyer's expense
Closing Costs
Seller Pays:
• Owner's title insurance premium
• Standard transfer taxes and recording fees
• Costs to cure any title defects
Buyer Pays:
• All loan-related costs and fees
• Recording fees for buyer documents
• Property survey (if required)
• Homeowner's insurance
• Attorney fees and closing costs
• Additional title insurance for lender
DEFAULT PROVISIONS
Buyer Default
If buyer fails to complete purchase, provide required documentation, or meet obligations:
Consequences:
• Seller retains $25,000 deposit as liquidated damages
• Seller may pursue additional legal remedies
• Seller may resell property
• Buyer liable for deficiency and additional costs
Seller Default
If seller cannot convey clear title:
• Buyer's sole remedy is return of deposit
• No further obligations for either party
AUCTION DAY PROCEDURES
Bidding Process
• Auctioneer conducts live bidding on-site
• Simultaneous internet bidding accepted
• Bidding increments determined by auctioneer
• Highest bidder becomes purchaser upon seller’s acceptance
Purchase Agreement Execution
• Winning bidder signs purchase agreement immediately
• Terms non-negotiable and binding upon execution
• Time is of the essence for all deadlines
PROPERTY DISCLOSURES
Lead-Based Paint
• Property built in 1960 (prior to 1978)
• Federal lead-based paint disclosure provided
• Buyer acknowledges receipt of required pamphlet
Property Knowledge
• All known property information disclosed
• Buyers accept property with all known and unknown defects
LEGAL PROVISIONS
Governing Law
• Agreement governed by Indiana real estate law
• Henry County jurisdiction for disputes
Assignment
• Purchase agreement may not be assigned without written consent
Modifications
• Agreement may only be modified in writing signed by all parties
Entire Agreement
• These terms constitute complete understanding
• No verbal agreements or representations binding
BIDDER ACKNOWLEDGMENTS
By participating in this auction, bidders acknowledge:
• Having read and understood all terms and conditions
• Understanding that a 10% buyer's premium will be added to the winning bid
• Understanding the non-refundable nature of the deposit
• Accepting AS-IS condition with no warranties
• Having adequate opportunity to inspect the property
• Understanding all financing must be arranged independently
• Agreeing that time is of the essence for all obligations
CONTACT INFORMATION
Real Estate Agent:
Jason Snider, Licensed Realtor
J. Snider Real Estate License: RB14045952
Phone: (317) 507-1692
Email:
[email protected]
Auctioneer:
Burgess Auctions LLC
Zack Burgess CAI, AU19600029
45 W Carey St
Knightstown, IN
Office: 765-445-7814
Mobile: 317-508-5973
Title Company: Fidelity National Title
IMPORTANT NOTICE
This auction represents a binding sale upon acceptance of winning bid. The $25,000 deposit is NON-REFUNDABLE under all circumstances except seller's inability to convey clear title.
All bidders participate at their own risk and expense. These terms are non-negotiable and become binding upon participation in the auction.
"Integrity in Every Lot. Care in Every Sale."
BURGESS AUCTIONS
Trusted Auctions, Timeless Results
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