Terms of Auction.
The following are terms set forth by Ayers Auction & Real Estate (herein after referred to as "Auctioneer")
and are agreed to by any individual or entity registering to bid in the auction (herein after referred to as “Bidder”). A bidder with the winning bid at the conclusion of the auction sale shall be considered the buyer (herein referred to as “Buyer”).
Absolute Auction: This is an absolute auction meaning Items will be sold to the highest Bidder in accordance with the terms below.
Balance Due: The cost of the item purchased (Bid Price plus Buyer's Premium) shall be due within twenty-four (24) hours of bidding conclusion and payable to Auctioneer. Acceptable forms of payment include: credit card, cash or wire transfer. If acceptable payment is not received within 24 hours, the Buyer will be considered in default and the credit card placed on file by Buyer will be charged 15% of the purchase price. The Buyer will lose Buyer's right to item and item will be sold to a subsequent purchaser.
Buyer’s Premium: A 15% Buyer’s Premium will be added to bid price and paid by Buyer as part of the purchase price. Example: Bid Price $5,000 plus $750 (15% buyer’s Fee) equals purchase price of $5750.00.
Possession: Items must be picked up on one of the advertised pick up days. In the event that an item is not picked up, possession will revert back to owner or Auctioneer. Buyer will be responsible for picking up any Item as Items will not be delivered.
Sales Tax: Sales Tax will be collected on each item by Auctioneer unless Buyer provides a copy of a tax exempt certificate.
“As-Is”: Items are being sold "as is, where is" and no warranty or representation either expressed or implied, concerning the item is made by the Seller, Auctioneer or Auctioneer’s Agents, Employees, Independent Contractors or Representatives.
Agency Disclosure: Ayers Auction and Real Estate is acting as agent for the seller, not as Buyer's agent.
Auction End Times: Online auctions conducted by Auctioneer are timed events and all bidding will close at specified time. These online auctions also have an auto extend feature. Any bid placed in the final 5 minutes of the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction is scheduled to close at 6:00 and a bid is placed 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.
Technical Issues: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Auctioneer reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor AUCTIONEER 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 Auctioneer.
Auctioneer's Discretion: Auctioneer has full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Auctioneer or the seller.
No Contingencies: 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.
Inspections: Interested bidders may contact Auctioneer to conduct reasonable inspections of the items and are encouraged to do so.
Acceptance of Bid Prices: The Auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Buyer will be notified their high bid was accepted with instructions to remit payment within 24 hours of the conclusion of the auction.
Remedies: Additional default remedies are reserved by Auctioneer and Seller. Auctioneer and Seller may elect to sue, in contract or tort, for damages or specific performance of the Agreement, or both. Auctioneer reserves the right to sell to the second-highest bidder in the event Buyer does not comply with the terms of the sale.
Bidder Verification: The identity of all bidders will be verified; bidding rights are provisional. If complete verification is not possible, Auctioneer will reject the registration, and bidding activity will be terminated. The Seller and Auctioneer 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 website you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
Bidding by Auctioneer: Agents, Representatives, Independent Contractors or Employees of Ayers Auction & Real Estate may bid on and purchase Items.
Indemnification: Buyer and/or Bidder agrees to hold harmless and indemnify Auctioneer, its Agents, Employees, Independent Contractors 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 Item information.
Disclaimer & Absence of Warranties: The Item is being sold on an “AS IS, WHERE IS” basis. All sketches and dimensions in any advertising are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Item. The information contained in the brochure, on signage, in advertising 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, Auctioneer or Auctioneer’s Agents, Employees, Independent Contractors or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Auctioneer are final.
Dispute Resolution: Any dispute between Auctioneer, its Agents or Representatives and any Bidder or Buyer will be tried in a court of jurisdiction in Campbell County, Tennessee. By bidding on the property, Buyer agrees to all terms and conditions set forth.
