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How This Auction Works
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This is an online auction. The seller reviews the final bid after the auction closes and has 48 hours to confirm or decline. The property only sells if the seller accepts. If the seller does not confirm within 48 hours, no contract is issued and you are under no obligation.
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Legal Reference: UCC Default Rule (49 of 50 States)
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Under the Uniform Commercial Code (UCC), all auctions in 49 of 50 states (every state except Louisiana) operate with seller confirmation of the final bid by default. This applies unless the auction is explicitly advertised as ABSOLUTE, meaning the word ABSOLUTE must appear in writing in the auction terms. That word does not appear in these terms. The seller's right to accept or decline the final bid is the legal default under the UCC, not a special condition of this auction.
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1. Registration
This is an online-only auction. All bidders must register at bids.bidwithhca.com and agree to these Terms and Conditions before placing a bid. Registration is free. By registering, you confirm that you have read, understood, and agree to be bound by these terms, including any additions or revisions published by Higher Calling Auctions before bidding opens. If you have not reviewed these terms in full, do not bid. Questions about these terms should be resolved before placing a bid. Contact Higher Calling Auctions at [email protected] or visit bids.bidwithhca.com.
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Credit Card Required for Registration - Not for Payment
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A valid credit card is required at registration for bidder identity verification only. Your credit card will not be charged as a result of bidding or winning. Credit card payments are not accepted for the earnest deposit or any other auction-related transaction. The only circumstance under which your registered credit card may be charged is the $1,000 default penalty described in Section 20.
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2. Property Condition: Sold As-Is
All property sells AS-IS with no warranties expressed or implied by Higher Calling Auctions or the seller. The seller will make no repairs, provide no credits, and offer no financial concessions after the auction closes. Any issues discovered after closing are the buyer's responsibility, and the purchase price will not be renegotiated based on inspection findings.
Buyers should schedule independent inspections and appraisals before bidding. Inspections are at the buyer's expense and may be scheduled through the auction company or ShowingTime. Property disclosures and due diligence materials, where available, are posted at bids.bidwithhca.com under the property listing. Submitting a bid represents your acceptance of the property in its current condition.
3. Auction End Times & Extended Bidding
Higher Calling Auctions online auctions are timed events with a scheduled closing time and date listed on the property listing page.
Extended bidding applies. Any bid placed within the last 10 minutes of the scheduled close automatically extends the auction by 5 minutes. The auction will continue to extend until no bids are received during an active extension period. This gives every bidder a fair opportunity to respond.
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Reminder
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Register and get pre-qualified before the auction opens. Extended bidding means the final minutes count. Be ready before bidding starts.
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4. Acceptance of Final Bid
Under the Uniform Commercial Code (UCC), all auctions in 49 of 50 states operate with seller confirmation of the final bid by default. Unless an auction is explicitly advertised as ABSOLUTE, the seller retains the right to accept or decline. The word ABSOLUTE does not appear in these terms.
The seller has 24 hours after the auction closes to confirm and accept the high bid. During this period, the high bidder is not yet under contract. The high bidder will be notified by email once the seller's decision has been made.
If the seller does not confirm within 48 hours, no contract will be issued and the high bidder is released from all obligation. No down payment will be collected.
5. Non-Refundable Down Payment
Once the seller confirms, a purchase contract will be issued to the winning bidder. The non-refundable earnest deposit is not required until the purchase contract has been fully executed, meaning signed by both the buyer and the seller. Once both parties have signed, the winning bidder has 48 hours to deliver the deposit to the title company. The required deposit amount is specified in the individual property listing at bids.bidwithhca.com.
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Accepted Payment Methods
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Wire transfer, certified check, or cashier's check only. Personal checks and business checks are not accepted. The buyer is responsible for any wire transfer fees. Delivery instructions will be provided when the contract is issued.
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This deposit is non-refundable once the purchase contract has been fully executed by both parties. Failure to deliver the deposit within the 48-hour window following full execution may result in forfeiture of the accepted bid and additional remedies as described in Section 20.
6. Buyer's Fee (Buyer's Premium)
A buyer's fee of three percent (3%) will be added to the high bid to establish the Total Contract Price. Example: a winning bid of $200,000 results in a Total Contract Price of $206,000. You will always know your total cost before you bid.
7. Financing
Both cash and financed purchases are accepted. However, financing is not a contingency of sale. This means the purchase contract will not be voided or delayed due to a financing failure. The buyer is fully responsible for closing within the required timeline regardless of lender status.
If you plan to use a mortgage, make sure your lender knows about the 30-day closing timeline and that a pre-approval letter is in hand before you bid. Confirming financing availability before bidding is strongly encouraged.
8. Auction Contract
Once the seller confirms, a purchase contract will be sent to the winning bidder establishing the Total Contract Price (Hammer Price + 3% Buyer's Fee). The winning bidder must execute this contract and deliver the non-refundable earnest deposit as described in Section 5 within 48 hours of full contract execution by both parties.
A preview copy of the auction purchase agreement is available on request at bids.bidwithhca.com.
9. Closing & Costs
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Closing Date
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30 days after seller acceptance. Negotiable if both parties agree.
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Closing Fees
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Each party pays their own closing costs.
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Title Insurance
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Seller provides an Owner's Policy of Title Insurance for the purchase price. Seller pays the cost of the policy unless otherwise agreed in writing.
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Prorations
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Current year taxes, HOA dues (if any), and rents prorated to date of closing.
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Unpaid Taxes
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Seller pays all real estate taxes and assessments due before closing.
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Deed Type
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Seller conveys title by General Warranty Deed or Trustee's Deed, free and clear of liens and encumbrances except as provided in this contract.
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10. Possession
Possession transfers to the buyer once the title company confirms that funds have been received and disbursed. This typically occurs the same day as closing. All items remaining on the property at closing convey with the property unless otherwise specified in the listing or purchase contract.
11. Evidence of Title & Survey
Title: The seller will provide an Owner's Policy of Title Insurance at the purchase price, naming the buyer as insured. The seller shall correct any title defects within 60 days of the buyer's written objection. If defects cannot be corrected, the contract becomes null and void and the earnest deposit is returned to the buyer.
Survey: No boundary survey will be provided. Property measurements are approximate and sourced from County Assessor records. Aerial photos and maps included in the listing are for illustration purposes only.
12. Taxes & Assessments
Seller pays all unpaid real estate taxes and assessments due before closing. Current year taxes, HOA dues (if applicable), and rents are prorated to the date of closing. Security deposits and advance rents, if any, are transferred to the buyer at closing.
13. Property Insurance
The seller must keep the property insured until deed delivery. If the property is substantially damaged before closing, the buyer may either accept the insurance proceeds and close, or cancel the contract and recover the full earnest deposit.
14. Agency Disclosure
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Who Does Higher Calling Auctions Represent?
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Higher Calling Auctions and all of its representatives act as Exclusive Agents of the Seller in this transaction. We do not represent the buyer's interests. Buyers are encouraged to consult with their own licensed real estate agent or attorney before bidding.
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15. Buyer's Agent & Broker Participation
Higher Calling Auctions is buyer agent friendly and welcomes licensed real estate broker participation in all auctions.
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NAR Settlement & MLS Compliance Notice
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Under the NAR Settlement effective August 17, 2024, buyer agent compensation cannot be published, offered, or communicated through any Multiple Listing Service (MLS). Compensation offered to buyer's agents in connection with this auction is negotiated and communicated off-MLS through direct contact with Higher Calling Auctions. Compensation is not set by law and is fully negotiable. To confirm the compensation available for this specific property before submitting the Buyer Broker Registration Form, contact Higher Calling Auctions directly at [email protected] or bids.bidwithhca.com.
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Seller concessions are also an available path for buyer agent compensation under current NAR guidelines. Where a seller has agreed to offer concessions, this will be communicated off-MLS through direct contact with Higher Calling Auctions. Buyers and their agents are encouraged to discuss this option before bidding.
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The Buyer Broker Registration Form (BBRF) must be submitted to Higher Calling Auctions before bidding opens. This deadline is firm and without exception. Forms submitted after bidding has opened cannot be accepted, and unregistered representation cannot be recognized in the transaction. To obtain and submit the form, contact Higher Calling Auctions at [email protected].
Buyer agents are responsible for making sure their clients have executed a written buyer agreement disclosing the agent's compensation before registering to bid or touring the property, as required by NAR. No commission is paid if a licensed agent purchases the property for themselves. A broker may not represent multiple competing bidders on the same property without prior written disclosure to and approval from Higher Calling Auctions.
16. Auction Disclaimer
All property information published at bids.bidwithhca.com or on third-party listing sites is believed to be accurate but is not guaranteed. On-site inspection is strongly recommended. Failure to inspect does not relieve the bidder of any obligations under these terms. Public records should be reviewed for easements, zoning restrictions, and other encumbrances. Higher Calling Auctions makes no guarantee as to title, survey discrepancies, or the condition of improvements.
17. Disputes & Governing Law
Any disputes between Higher Calling Auctions and the buyer will be resolved in a court of competent jurisdiction in St. Charles County, Missouri. The prevailing party in any litigation related to this contract is entitled to recover court costs and reasonable attorney's fees. Placing a bid signifies acceptance of all terms.
18. Hold Harmless & Indemnification
The buyer agrees to hold harmless and indemnify Higher Calling Auctions, its agents, owners, employees, and representatives from any claims, damages, suits, costs, or fees arising from or related to the buyer's participation in this auction or purchase of the property.
19. Server & Software Issues
If technical problems occur with servers, software, or online auction systems, Higher Calling Auctions reserves the right to extend, continue, or close bidding at its discretion. Neither the software provider nor Higher Calling Auctions is responsible for missed bids or system failures outside their control. Registered bidders will be notified of material changes as needed.
20. Default & Remedies
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Default Warning
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A winning bidder who fails to execute the signed contract OR deliver the non-refundable earnest deposit within 48 hours of full contract execution (signed by both parties) is in default.
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Upon default, Higher Calling Auctions reserves the right to:
1. Charge a $1,000 penalty to the bidder's registered credit card. This is the sole circumstance under which a registered credit card will be charged. The credit card on file is used for identity verification only and is not charged for any other auction transaction.
2. Forfeit the earnest deposit, which shall first cover the seller's expenses with the remainder split equally between the seller and Higher Calling Auctions in lieu of commission.
3. Offer the property to the second-highest bidder. The second-highest bidder is under no obligation to purchase and will be contacted directly if this option is exercised.
4. Pursue additional legal remedies as reserved for Higher Calling Auctions and the seller under applicable law.
Disputes over earnest money disbursement require written release from all parties or a court order.
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DISCLAIMER
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These Terms and Conditions constitute the binding agreement governing this auction. The Bidder Guide provided separately is for informational purposes and plain-language reference only. If there is any conflict between the Bidder Guide and these Terms and Conditions, these Terms and Conditions control. All bidders are responsible for reviewing these terms in full before placing a bid.
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Thank you for choosing Higher Calling Auctions. We look forward to your participation in this exciting event.
