Property: 4471 CR 201, Walnut, Tippah County, Mississippi 38683.
Broker/Auctioneer: Caldwell Realty, LLC, acting through John Caldwell. MS Broker License B-25009 MS Auctioneer License 923 Telephone: 662-587-5105.
Before bidding, review these terms, property-specific information, proposed AO-202(purchase contract) and addenda, the completed Mississippi Property Condition Disclosure or documented lawful exclusion, applicable lead disclosure package, and Mississippi Working With a Broker form. Do not bid unless you understand the terms and can perform if Seller timely accepts. Registration acknowledgment does not replace a separately required signature, consent, or waiver.
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2. AUCTION FORMAT AND SELLER CONFIRMATION
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The standard auction is ONLINE ONLY and SUBJECT TO SELLER CONFIRMATION. Complete the actual closing date, time, time zone, and platform in the property-specific packet. The designated platform clock controls, subject to the automatic extensions in Section 4. An absolute, reserve, live, or multi-parcel variation requires an attorney-reviewed coordinated written addendum disclosed before bidding.
The high bid is an offer. A platform winning-bid designation or bidding close does not alone create a binding sale. Subject to applicable law and sufficient authenticated signed or electronic records, Seller’s timely written acceptance communicated to the bidder creates the binding sale on the disclosed terms. Later execution of AO-202 memorializes that transaction without creating another opportunity to reject or renegotiate.
Seller must confirm acceptance in writing within TWENTY-FOUR (24) HOURS after actual bidding closes, including any bidding extensions. The high bidder's offer shall remain open during the stated period, subject to rights that cannot lawfully be waived. Written acceptance must occur and be communicated to the bidder within that period using the notice method stated in the purchase agreement. If timely acceptance does not occur, no sale results under that offer, and any applicable deposit shall be returned. A later offer or acceptance requires a new written agreement; it does not automatically revive an expired offer.
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3. REGISTRATION AND BIDDER QUALIFICATION
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HOW TO REGISTER
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Create or sign in to your MarkNet account and request approval to bid.
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Caldwell Realty will send you the auction disclosures and acknowledgment forms. Review, sign, and return the required forms, along with proof of funds or a lender’s preapproval letter.
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Once your registration information and documents have been reviewed, we will notify you of your bidding approval or contact you if anything else is needed.
Please request approval at least 24 hours before the auction closes. Allow time to complete the paperwork and become familiar with the bidding platform.
Financing is permitted, but the standard purchase is not contingent on loan approval or appraisal. Questions? Call Caldwell Realty at (662) 587-5105.
Bidders must be at least 18 years old and legally capable of contracting. Provide accurate purchaser identity, address, telephone number, and email address. An entity bidder must identify the actual purchasing entity and establish the signer's authority. Broker/Auctioneer may require identification and reasonable proof of funds or authority and may reject or revoke registration for incomplete information, suspected fraud or collusion, improper bidding, or violation of these terms, subject to applicable law.
Keep account credentials confidential and promptly report unauthorized use. Monitor bidding directly; email and text notices may be delayed or unavailable. Register sufficiently early to complete qualification and disclosure requirements.
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4. BIDDING PROCEDURES AND EXTENSIONS
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Bidding increments and any maximum-bid feature operate as disclosed on the designated platform. Review the bid amount before submitting it. Submitted bids may not be withdrawn during the stated confirmation period except as permitted by applicable law or written agreement.
Automatic bidding extensions apply. Any bid placed within the final five (5) minutes extends bidding until five (5) minutes after that bid. Extensions repeat until five (5) minutes pass without another bid.
Broker/Auctioneer may resolve bidding disputes, correct manifest clerical errors, reject improper bids, and suspend, extend, reopen, reschedule, or cancel bidding when auction integrity or access is materially affected. Reasonable notice will be provided when practicable. These procedural powers do not authorize unilateral amendment of an executed purchase agreement.
Bidding by Seller or on Seller's behalf is prohibited. No provision authorizes fictitious bids or bids intended to inflate the price for Seller.
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5. BUYER'S PREMIUM AND CONTRACT PRICE
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Buyer’s Premium is ten percent (10%) of accepted High Bid Amount and is added once to establish Contract Price. It is earned by and payable to Caldwell Realty when a binding sale is created, ordinarily paid at closing as part of Contract Price, and does not create buyer agency. Caldwell Realty reserves a claim for the full earned premium after established Buyer default only to the extent enforceable under AO-202 Article IX, subject to all credits and no duplicate recovery. It is not automatically payable from escrow.
Example: $100,000 accepted high bid + $10,000 buyer's premium = $110,000 Contract Price.
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6. PURCHASE AGREEMENT AND EARNEST MONEY
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Within twenty-four (24) hours after Seller’s timely written acceptance is communicated, Buyer must complete, sign, and return the disclosed AO-202 reflecting the accepted bid and published terms and deliver the Purchase Deposit. Both deadlines use the same communication timestamp. Unauthorized proposed changes do not release Buyer absent lawful written agreement. Subject to Section 2 and applicable law, execution memorializes the accepted transaction.
Purchase Deposit is ten percent (10%) of accepted High Bid Amount, excluding Buyer’s Premium, due within the same 24-hour period. A disclosed Registration Deposit is credited toward it. The confirmation notice must state actual bidding-close time, written acceptance time, communication time, time zone, and the contract and deposit deadlines. No Registration Deposit is required unless expressly disclosed before bidding.
Payment method: check, certified check, or money order. Escrow holder: Caldwell Realty, LLC.
The purchase deposit is credited toward the Contract Price at closing; it is not an additional charge. For the $100,000 bid example, the deposit is $10,000 and the remaining Contract Price is $100,000, before prorations, closing costs, and other agreed adjustments.
After a binding sale, the deposit is nonrefundable except as authorized by AO-202, lawful written release, or applicable law. Authorized return events include failure of timely Seller confirmation, Seller default, failure of required title, and proper termination for material casualty or condemnation. Disputed funds remain in escrow pending written agreement, lawful authority, or court order.
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7. NONCONTINGENT PURCHASE, INSPECTIONS, AND AS-IS CONDITION
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The purchase is not contingent on financing, lender approval, appraisal, inspection, survey, acreage, boundaries, zoning, permits, intended use, environmental review, insurance, sale of another property, or other conditions within Buyer's control unless signed Special Terms expressly provide otherwise. Buyer may borrow funds, but financing failure does not excuse performance.
Complete desired investigations before bidding and consult appropriate professionals. Property inspections are by appointment only, require at least twenty-four (24) hours advance notice, and are available to prospective bidders approved by Caldwell Realty, LLC. Approval may require verification of identity, authority to purchase, and reasonable evidence of financial ability to perform, applied consistently and in compliance with applicable fair-housing law. Approval does not require an all-cash purchase or create a financing contingency. Approved prospective bidders may arrange access for their inspectors or other authorized professionals through Caldwell Realty, LLC at 662-587-5105. A request is not a confirmed appointment until approved. Do not enter without authorization or perform destructive testing without written permission. Inspection scheduling and qualification procedures shall accommodate the applicable lead-based paint inspection opportunity. The express title, Seller-default, casualty, condemnation, and nonwaivable legal protections remain effective.
The Property is offered AS IS, WHERE IS, WITH ALL FAULTS, subject to Seller's title obligations, required disclosures, express written warranties, and AO-202. Seller is not obligated to make repairs absent written agreement.
Descriptions, tax records, maps, aerial photographs, acreage, dimensions, and other third-party information are provided for convenience and require independent verification. Illustrations do not establish surveyed boundaries. Broker/Auctioneer does not independently warrant condition, habitability, area, access, utilities, septic systems, zoning, suitability, or intended use. Nothing excuses fraud, intentional misrepresentation, gross negligence, violation of law, or a disclosure obligation that cannot lawfully be waived.
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8. MISSISSIPPI PROPERTY CONDITION DISCLOSURE
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For property subject to Mississippi disclosure requirements, Seller shall provide the completed official Property Condition Disclosure Statement and supplements, or document a lawful exclusion, before bidders become obligated. Document delivery and required updates. The statement is a separate disclosure of Seller’s knowledge, not a warranty or substitute for inspection. Statutory rights are not waived. Do not state that a disclosure is attached until the actual form is included.
If the Property is applicable pre-1978 target housing, provide the required Lead Warning Statement, Seller’s disclosures, available records and reports, EPA pamphlet, acknowledgments, and signatures before a bidder becomes obligated. Complete and document applicability or exemption for each property; this master does not declare a particular property subject to or exempt from the rule.
Prospective buyers shall receive the required ten-day opportunity for a lead-based paint inspection or risk assessment unless a different period is mutually agreed in writing or the buyer knowingly waives the opportunity in writing. The pre-auction inspection schedule and documentation procedure must accommodate this requirement before the bidder becomes obligated. Merely registering, bidding, or accepting general as-is terms does not constitute the separate written waiver.
The applicable lead disclosure addendum shall accompany AO-202. Electronic delivery shall comply with applicable consent and access requirements.[CR1]
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10. TITLE, DEED, AND PROPERTY RIGHTS
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Seller shall provide clear, marketable title at closing, subject only to the permitted exceptions expressly identified in AO-202 and its signed property-specific addendum. Seller shall satisfy or release Seller's mortgages, deeds of trust, judgments, delinquent taxes, and other monetary liens as required by the contract.
Seller conveys by General Warranty Deed unless an expressly identified signed exception was disclosed before bidding. If a curable title defect prevents required conveyance by the original closing deadline, closing automatically extends for up to fifteen (15) additional calendar days solely as needed to cure that defect. Seller shall promptly give Buyer written notice identifying the defect and need for the extension and use reasonable good-faith efforts to cure. No separate addendum is required for this extension. Closing shall occur as soon as cure permits, no later than that extended deadline. Further extension requires a written addendum signed by Buyer and Seller. Failure of required title at the applicable deadline is governed by AO-202 §6.4; the extension does not excuse an independent breach. Title-objection and casualty-election deadlines are completed in AO-202 before bidding; complete both deadline fields before bidding.
Existing recorded easements, restrictions, rights-of-way, and governmental regulations remain subject to the contract's permitted-exception standards. Seller-owned mineral and timber rights are included; Seller does not promise rights it does not own. Real estate fixtures are included as provided by AO-202. Included personal property, leased equipment, exclusions, and reservations, if any, shall be identified in the Purchase Agreement and its attachments.
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11. CLOSING, EXPENSES, AND PRORATIONS
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Closing occurs within thirty (30) calendar days after Buyer and Seller fully execute AO-202, measured from the last required Buyer or Seller signature. This differs from the acceptance Effective Date and the contract/deposit clock. The closing agent is designated in writing for the particular transaction; no firm is designated in this master. Only AO-202’s automatic title-cure extension or a required signed amendment extends closing.
Seller pays deed preparation; satisfaction and release of Seller’s monetary liens, judgments, and delinquent obligations; Seller’s title-curative expenses; and taxes imposed on Seller by law. Buyer pays title examination and owner’s title insurance, Buyer-requested survey, deed recording, financing and lender expenses, and Buyer document expenses. Seller pays Seller’s closing and settlement fees; Buyer pays Buyer’s closing and settlement fees. Each party pays fees attributable to its own side. Any shared charge must be expressly allocated in signed Special Terms.
Current-year property taxes, rents, recurring association charges, and special assessments, if applicable, are prorated through closing. Seller is responsible for amounts attributable to the period through closing; Buyer is responsible for the period afterward. Seller pays delinquent amounts attributable to Seller.
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12. POSSESSION AND RISK OF LOSS
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Possession transfers at closing and full funding, free of occupants and excluded personal property unless an identified signed property-specific occupancy or lease addendum states otherwise. This master assumes no particular tenancy. Any occupancy exception must address assignment, deposits, prepaid rent, and possession timing. Seller maintains substantially the Auction Date condition. Buyer has no right to occupy or control the Property before authorized possession. A walkthrough confirms contractual compliance and creates no new inspection contingency.
Seller bears the risk of material casualty or condemnation until closing. Notice, election rights, refunds, repair, credits, and assignment of proceeds are governed by Article VIII of AO-202.
Material failure after a binding sale to sign and return AO-202, deliver the deposit or required funds or documents, close, or otherwise perform may constitute Buyer default under AO-202, subject to legally required notice, cure, and nonwaivable rights. The standard Seller remedy is termination and the Purchase Deposit as exclusive liquidated damages for failure to complete, subject to enforceability. Financing failure, unsatisfactory appraisal, or incomplete desired pre-bid inspections creates no refund right by itself. Express title, Seller-default, casualty, condemnation, and legal return rights remain effective.
Caldwell Realty preserves the claim for the full earned 10% Buyer’s Premium after established Buyer default only to the extent enforceable with the exclusive Seller remedy in AO-202 §9.2. All recoveries attributable to that premium from deposits, damages, settlement, Buyer, Seller, or another source reduce the same obligation dollar for dollar. No automatic deposit split, expense-first distribution, or additional undisclosed penalty applies. Private Seller–Broker allocation cannot enlarge Buyer liability or authorize release of disputed funds.
No returned-check percentage penalty or additional auction-company damages schedule is created by these terms. Recovery shall be credited as required to prevent duplicate collection. Disputed escrow funds shall not be distributed unilaterally. Following lawful termination, Seller may consider backup offers or authorize a further sale.
AO-202 distinguishes willful Seller refusal or independent material breach from unavoidable failure of required title despite reasonable good-faith cure efforts. On an authorized refund event, Buyer receives the full Purchase Deposit and paid premium and owes no uncollected premium. Buyer retains lawful remedies for independent Seller breach; AO-202 §6.4 contains the limited remedy for unavoidable title failure, subject to nonwaivable law. Seller compensation cannot be taken from Buyer funds required to be returned.
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14. AGENCY AND COOPERATING BROKERS
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Caldwell Realty, LLC and John Caldwell exclusively represent Seller. Providing information, accepting bids, administering documents or escrow, or receiving a buyer's premium does not create buyer agency. Review and acknowledge the Mississippi Working With a Broker form. Buyers may obtain independent representation.
Cooperating-broker compensation is available only when offered in writing and accepted under a separate signed Broker Participation Registration and Compensation Agreement. The standard offer, when made, is two percent (2%) of the accepted High Bid Amount, excluding Buyer’s Premium, paid solely from Caldwell Realty’s earned Buyer’s Premium with no additional charge to Seller or Buyer. The broker must register the actual buyer before bidding and satisfy that agreement. Payment is conditioned on that buyer purchasing, successful closing, and Caldwell Realty’s receipt of the premium. No offer is made merely by including this master provision.
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15. TECHNICAL INTERRUPTIONS
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Internet access, software, and notifications may fail. A bidder should monitor the platform and allow time to submit bids. Broker/Auctioneer may take the corrective auction measures described above and give notice when practicable. Broker/Auctioneer is not liable for a missed or failed remote bid except to the extent arising from gross negligence, willful misconduct, or liability that cannot lawfully be excluded. No bid-delivery guarantee is made.
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16. DOCUMENTS, CHANGES, AND GOVERNING LAW
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For purchaser obligations and sale terms, priority is: (1) later Special Terms or addenda signed by Buyer and Seller that expressly identify the change; (2) AO-202; (3) incorporated parcel schedules and property-specific terms; (4) Standard Bidder Terms; (5) announcements; (6) general advertising. AO-201 governs only the Seller–Broker/Auctioneer relationship and cannot enlarge Buyer obligations or authorize release of Buyer funds. A change to Broker/Auctioneer compensation or rights also requires its signed consent. Material changes before bidding must be disclosed in writing and acknowledged anew by affected bidders before further bidding. After a binding sale, amendments require a writing signed by Buyer and Seller and, if its compensation or rights are affected, Broker/Auctioneer. Announcements and operational approvals may clarify procedure but cannot change price, premium, deposits, deadlines, remedies, or other material sale terms. Any different standard remedy must be signed and disclosed before bidding. Nonwaivable law controls.
Mississippi law governs. Venue is a court of competent jurisdiction in the county where the Property is located, subject to applicable law. Electronic signatures, authenticated notices, assignment restrictions, enforcement costs, severability, and surviving obligations are governed by AO-202. The Auction shall comply with applicable fair-housing and equal-opportunity law.
By bidding, the bidder acknowledges review and acceptance of these auction terms, subject to the stated seller-confirmation requirement, applicable disclosure procedures, and rights that cannot lawfully be waived.
