REAL ESTATE TERMS & CONDITIONS As Is, Non contingent transaction. Buyer to all due diligence prior to the auction date. Buyer will execute purchase and sale contract at completion of auction and place 10% of of the high bid into escrow within 24 hours of the end of the sale. Sale is not contingent on appraisal, inspection or financing. Buyer can have inspection and appraisal done prior to auction and may use financing but this transaction will be treated as a CASH purchase. Use the time prior to the auction to complete all due diligence.
Welcome to our Auction, we hope you enjoy your experience. Please take a moment and read our terms and conditions. If you have questions regarding these terms, please call our office. If you are being represented by an agent we are paying broker participation IF your agent registers using the broker participation form available by email. Contact Matt Sandmann at [email protected] or 5807753539 Please note that all broker participation forms must be filled out completely and received no later than 48 hours prior to the close of the auction. Broker participation is 3% of the winning bid. Example: Winning bid of $100,000 = $3000 broker participation paid to broker at closing.
This property will be sold subject to the owner's confirmation which means the owner has the ability to reject or accept the final bid. Furthermore, this is an estate and the probate court may be required to approve the contract of sale prior to closing. By registering in our auction today you agree to our terms & conditions and will be bound by those Terms and Conditions. A ten percent (10%) buyer's premium will be added to the high bid to establish the total sales contract price. The successful high bidder on this property will be required to sign a Real Estate Sales Contract, Terms & Conditions, and any other documents needed immediately upon conclusion of the bidding and will make a nonrefundable deposit of 10% into escrow. Payment may be made by personal check; cashier's check, wire transfer or cash. The balance is to be paid in full at closing.. Current taxes will be prorated at the date of closing.
Seller will provide up to date Abstract. Buyer is responsible for title opinion, title insurance, recording fees, and quiet title costs if required. Customary closing costs will be paid by the buyer. Buyer is to obtain their own financing but the auction is not contingent upon it. The contract will not be contingent upon financing, inspections or any other contingencies. Auction and its auctioneers and agents are representing the sellers as the sellers' agents. Southern Comfort Realty gives notice that the auctioneer or agent can bid on behalf of the seller up to the reserve price. All properties are sold "AS-IS, WHERE-IS and WITH ALL FAULTS," without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on the bidder's behalf. All measurements, square footage and age are approximate and not guaranteed. Seller and or agent makes no warranty as to the accuracy of information. All information is deemed reliable, but not guaranteed. Buyer to verify all information to their satisfaction prior to bidding. Oklahoma Residential property exemption notification and lead-based paint disclosure will be a part of the sales contract.
Bidder understands and agrees that this agreement and all rights of the parties there-under, shall be governed by the laws of the County of Johnston, State of Oklahoma and any action brought by either party shall be brought in the Courts of the State of Oklahoma. In the event that for any reason, the forum is deemed to be sufficiently inconvenient or the agreement on the forum selection is unenforceable it is still the intention of the parties that the Laws of the State of Oklahoma govern the parties agreement and their rights attended thereto. Buyer agrees that any legal filed action will take place within the county of Johnston, City of Tishomingo, State of Oklahoma. If you are bidding online please note, the auctioneer may without notice, withdraw, extend or rearrange any property, and or item at their sole discretion at any time and will not be liable for any computer, internet or website malfunctions. In an online only auction bids that are placed within the last minute, will cause bidding to automatically extend to prevent bid sniping. Payment must be made within 24 Hours after you are the winning bidder. Southern Comfort Realty will have up to 7 DAYS to provide the Buyer with any documents to be signed after the auction has ended.
