Auction Terms & Conditions
Each property is offered under the specific auction terms provided and agreed to by bidder at auction registration. Please read and review the Terms and Conditions thoroughly prior to bidding on the property. If you have not read and reviewed the Terms and Conditions, Please Do Not Bid!
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes if they may arise.
Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Example: Rowell Auctions, Inc. Online Only Real Estate Auctions have a “Dynamic Close” auto extend feature. A bid placed within 5 minutes of the advertised auction end time will automatically extend the auction and reset the timing remaining in the auction to 5 minutes remaining. Example: If an auction scheduled to end at 6:00 p.m. receives a bid at 5:59 p.m., the “Dynamic Close” auction extension is activated, and the close time of the auction automatically extends to 6:04 p.m. The “Dynamic Close” auto-extend feature remains active until no further bids are received on any of the properties in the entire bidding group of properties within the auto extend time frame at which time the auction will close.
Bidder Verification: The identity of all bidders will be verified, and bidding privileges are provisional. If complete verification is not possible, Rowell Auctions, Inc. reserves the right reject the registration, and bidding activity is subject to termination.
Terms: At the close of the auction, the successful bidder will be emailed the auction documents package to execute and return to Rowell Auctions, Inc. The successful bidder will deposit $10,000.00 as earnest money by bank wire transfer with Rowell Auctions on or before 5:00 PM on August 27th, 2026. The entirety of the remaining balance is due at closing, on or before September 24th, 2026 payable to The Reserve Club & Marina Homeowners Association Inc. Purchaser shall be responsible for all wire transfer
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price to determine the final contract price.
10% Buyer's Premium Example:
Bid Price: $50,000.00
Plus 10% Buyer's Premium: $5,000.00
Total Contract Price: $55,000.00
Auction Administrative Fee: In the event the winning bidder fails to return the completed sale documents and the earnest money deposit as provided in the pre-stipulated Auction Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Seller and Rowell Auctions, Inc. All administrative fees are non-refundable.
Closing: Time being of the essence, the sale shall be closed on or before September 24, 2026. The purchaser will pay for all closing costs associated with the transaction.
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as purchaser's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid on the Seller’s behalf.
Disclaimer: The Reserve Club and Marina Homeowners Association, Inc. has been informed by the current owner of Tract A (located at the west side of the community) that it believes it has the right to use Slip C-12. To date the owner of Tract A has not provided any documentation to support its belief despite requests from the Association. The Association has consulted with its attorney, who investigated this issue in depth, and has concluded that it has the appropriate rights to Slip C-12 and may assign it accordingly. Furthermore, the owner of Tract A has recently notified the HOA by email that, although it continues to believe it has rights associated with Boat Slip C-12, it has decided to step back from and no longer pursue the dispute.
All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to the bidder for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. Bidder must conduct and rely solely upon their own investigations and inspections. The property is being sold "AS IS" with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding.
For More Information
Contact
David Hart, CAI, AARE
Rowell Auctions, Inc.
Cell: 229.891.8340
Office: 229.985.8388
