Taylor Auction Terms (MISSISSIPPI):
PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY BEFORE BIDDING ON ANY PROPERTY.
10% of the final bid price is due within 24 hours after the close of the auction, and the balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Online Auctions are timed events, and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend until 12:05. The auto-extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as active bidding is within the catalog.
Following your review of these terms, do not bid if you do not agree or accept. By placing a bid, you are accepting the terms of this auction and will be held to the terms as they are presented and updated. These terms create a legally binding contract between you and Taylor Auction & Realty, Inc. Documents presented on the website are part of the terms. The seller has determined the terms. Bids cannot be canceled.
For Mississippi Properties: This online auction is set for automatic approval. You may register for the auction and download any documents regarding it. However, please print from the Documents Section, Working with a Real Estate Broker, before bidding. After printing and reviewing, please acknowledge your non-representation by signing above the Customer line. Please email
[email protected] or fax to 1.662.227.1653. If you need assistance, please call us at 1.662.226.2080.
Auction firms have put every effort into preparing the catalog for this auction to describe the property accurately. The property is sold with no warranty written or implied by Auction Firms. The following information is provided to you as a matter of convenience only, and no representation or warranty, expressed or implied, is made as to its accuracy or completeness by the auctioneer. All information obtained came from the seller or third-party sources.
You are encouraged to inspect the property you wish to purchase before THE ONLINE AUCTION. No sale will be contingent upon a property inspection by the successful bidder after the auction, or the sale will be contingent upon the Buyer obtaining financing. You are expected to pre-qualify yourself with a lender before the auction. Printed statements or descriptions by staff or the seller are provided in good faith and are matters of opinion. Bidders must conduct and rely solely upon their investigations and inspection regarding the condition and feasibility of the bidder’s intended use. The real property is being sold AS-IS with any faults. Please review all information and seek appropriate assistance before bidding at the auction.
Inspection: Please call our office at 662.226.2080
Reserve Not Met Statement: A reserve not met statement is placed on lots with a reserve. When the reserve is met, the statement will disappear. After the auction closes, bidders may call the office to discuss the reserve, and negotiations can be discussed.
BIDDER REGISTRATION:
For us to have enough time to conduct authorizations, we encourage you to register and bid early. Waiting until the last minute to register and become comfortable with the system could negatively affect your bidding. We encourage you to register at least 24 hours before the auction.
To better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This ensures good communication between Taylor Auction & Realty, Inc. and the bidder throughout transactions. Each bidder's identity will be verified. Bidding rights are provisional; if complete verification is impossible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.
BIDDING PROCEDURES:
Online auctions move quickly! If you are interested in bidding, bid quickly, especially at the close of bidding time. The bidding software will notify bidders by email or text when they have been outbid. Bidders may also discover if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connection speeds, please place a max bid or constantly monitor the auction at the close of the bidding. Sometimes, email or text notifications can be delayed. If you win, you will be notified by email.
Offering: Real estate is offered as a whole.
A 10 % Buyer's Premium will be added to your final bid to equal the contract price. The hammer bid and the buyer’s premium establish the final price.
Buyer's Premium example:
Bid price ($100,000.00) + 10% Buyer's Premium ($ 10,000.00) = Total Contract price ($ 110,000.00)
BUYER'S PREMIUM: The purchaser agrees to pay a premium of 10% of the bid price upon closing, equal to the agreed-upon commission between the Seller, Agent, and Purchaser. The purchaser recognizes and agrees that this transaction's 10% premium paid as the commission does not constitute purchaser representation.
CLOSING TIME:
Time being of the essence, this contract shall be closed as soon as possible on or before July 16, 2024. The seller will pay for the preparation of the deed of conveyance and prior real estate taxes past due. The buyer's responsibility is all other closing costs, i.e., survey fees, title expenses, and any other fees associated with the closing.
CLOSING LOCATION AGENT:
Contact Auctioneer
TAXES:
2024 Taxes will be prorated to the day of closing. The seller will pay any taxes from the prior years.
POSSESSION:
The purchaser shall receive possession of the property at closing, subject to any tenant rights. Some of the units/buildings are rented. The buyer agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions but are not guaranteed.
BIDDER BROKER PARTICIPATION: A bidder broker participation form is available upon request. Please call our office for the form.
RESTRICTIONS:
Property restrictions are subject to Specific City, County, and State laws, ordinances, and regulations. The property is selling with all easements and leases of record. The owner warrants that they have good merchantable title to the real estate and will convey the same with a deed, free from all encumbrances, liens, or judgments, at closing time.
SPECIAL INSTRUCTIONS:
Any special instructions must be written on the sales contract today. Complete terms and conditions will be provided before auction day and specified within the Contract for the Sale and Purchase of Real Estate showcased in the Documents section of the project.
If the seller accepts the final bid from the auction. In that case, the bidder will be emailed a contract to execute and return to Taylor Auction & Realty, Inc. Successful bidders will deposit 10% of the contract price per property in the form of a cashier's check or wire transfer to Taylor Auction & Realty, Inc. within 24 hours of contract ratification by the seller. The entirety of the remaining balance is due at closing. The purchaser will be responsible for all wire transfer fees. You will be closing on the property on which you are the successful bidder in the final manner you bid at the auction.
AUCTION BID DEFAULT:
A successful bidder not executing and returning the contract with an earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. If the bidder fails to submit the signed Contract for the Sale and Purchase of Real Estate and 10% of the High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at the auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder if the successful high bidder does not comply with the terms of the sale.
LIQUIDATED DAMAGES:
If the buyer does not close within the stated time on the contract and the seller has not granted a written extension, the buyer will forfeit the 10% escrow deposit. If such action occurs, Taylor Auction & Realty, Inc., at this moment, has the right to disperse the deposit as stated in the listing agreement, and the buyer has no claims to such money or property being sold. Liquidated damages are to cover the cost of the auction, cost incurred by the seller, labor cost, and additional cost of the auction as not defined in this agreement.
Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT:
Taylor Auction & Realty, Inc. is the seller's agent, and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not a buyer's agent. TAR reserves the right to remove or cancel the bids, bidding rights, and privileges of any party deemed not in the seller's best interest. Taylor Auction & Realty, Inc. reserves the right to cancel the auction at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement hereby made a part of. Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical to produce the best offer to the Seller.
BROWSER INFORMATION: Google Chrome and Mozilla Firefox are the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9, and 10, bidders are more likely to have issues with Internet Explorer when using our website.
SERVER & SOFTWARE TECHNICAL ISSUES:
If there are technical difficulties related to the server, software, or any other online auction-related technologies, Taylor Auction & Realty, Inc. reserves the right to lower the starting bids, extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. 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 registered bidders with updated information by Taylor Auction & Realty, Inc., as deemed necessary.
Hold Harmless: Buyer and bidder agree that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owners, Directors, Employees, and Representatives from any claims, demands, expenses, and damages which bidder/buyer may claim on account of or in any way growing out of the said auction and to look solely to the Seller for any remedy demanded.
SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought to the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder, and Buyer each individually and collectively by participating in the Auction conducted by Taylor Auction and Realty, Inc. do at this moment irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction.
Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor, or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies, and any servant, agent, or employee of the same by bidder’s participation in this auction. The bidder acknowledges and agrees that the Auctioneer is acting solely as the seller's agent in this auction. Disclaimer of warranties: There are no understandings, agreements, representations, or warranties, express or implied, not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose.
Bidder Responsibilities include but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for any activity involving their account. When using the website, you must obey local, state, and federal laws. Violations will result in the termination of website use privileges. Auction company employees and the Auction Company may bid on the auction for absentee bidders or at the direction of interested bidders.
Guaranty Agreement regarding bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement guaranteeing earnest money payment to Taylor Auction & Realty, Inc. and the completion of the transaction.
Reasonable Accommodation: Taylor Auction & Realty, Inc. is an employer and professional service organization with no intention to discriminate based on disability or legally prohibited basis. We are an affirmative action, equal opportunity employer and service provider. Our decisions are made without regard to race, color, religion, sex, disability, sexual orientation, gender identity, national origin, veteran status, or genetic information. Accommodations are made regarding hiring employees or assisting clients or customers in our services unless the accommodation will impose an undue hardship.
Requests for reasonable accommodations should be directed to Ruthie Taylor @
[email protected].
By bidding on any item, the bidder accepts the auction's terms.
I appreciate your interest in this auction.
Benny Taylor CAI AARE CAGA
Taylor Auction & Realty, Inc.
Announcements in the form of updated terms posted on the website will take precedence over any previously viewed terms at registrations, previous material, or any other oral statements. Please view the terms periodically for any changes.
Walker Auction Terms (MISSISSIPPI)
10% of the final bid price due within 24 hours after the close of the auction, and the balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
The seller has the right to sell any properties before the close of the auction.
Online Auctions are timed events, and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend until 12:05. The auto-extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as active bidding is within the catalog.
The property will be sold at an online auction at www.walkerauctions.com .
Property Sells in 'AS IS' Condition. Buyers are encouraged to inspect to your satisfaction before bidding.
A 10% Buyers Premium will be added to the last bid to determine the contract price.
Successful Buyer will sign a contract for sale and deposit 10% of the bid price in Escrow to be applied toward purchase price at closing within 24 hours of the close of the auction.
Closing will occur on or before July 16, 2024, unless otherwise specified.
The buyer must make all inspections before the auction closes. The property is not sold subject to inspections, appraisals, loan approvals, surveys, or other contingencies not listed in the purchase contract. The seller is not responsible for the buyer's loan or closing costs.
For Mississippi Properties: This online auction is set for automatic approval. You may register for the auction and download any documents regarding it. However, please print from the Documents Section, Working with a Real Estate Broker, before bidding. After printing and reviewing, please acknowledge your non-representation by signing above the Customer line.
Contact Lance Walker, Walker Auctions at 901.491.0793 or
[email protected] with any questions.
POSSESSION: The purchaser shall receive possession of the property at closing, subject to any tenant rights. Some of the units/buildings are rented. The buyer agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Pearce Auction Terms (ALABAMA)
REAL ESTATE AUCTION
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Seller has the right to sell any properties prior to the close of auction.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.
An Auction is considered to be a "CASH PURCHASE" and is not subject to financing. It is without contingencies.
You cannot register or participate in this auction without first, agreeing to this electronic set of terms and conditions. By clicking on the "agree" box, you are agreeing to this set of auction terms and conditions.
The property will be sold by legal description and transferred by warranty deed.
Selling Subject to Sellers Approval.
Note: SOME OF THE REAL ESTATE IS CURRENTLY RENTED - BUYER agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.
The terms are 10% down payment with the balance due on or before July 18, 2024. Time is of the essence.
A 10% buyers premium will be added to the winning bid to determine the final sales price.
Example: $100,000 bid, plus $10,000 (10% buyers premium) equals $110,000 gross sales price.
Purchaser to receive possession of the property upon delivery of deed at closing, subject to any tenant rights for occupied units/buildings.
Purchaser to pay closing cost and title insurance. Seller guarantees title to be free and clear.
Ad Valorem taxes will be prorated at closing.
PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.
BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “As
Is” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure of any bidder to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of a bid, offer or earnest money after its opening or tender.
All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.
The auction company and/or it’s employees reserve the right to bid on behalf of the Seller, Lender, Estate Executor, Administrator, Government agency or any party having an interest in the property. Auctioneer reserves the right to advance the bid up to the owners reserve amount, unless the auction is stated as an “Absolute Auction”. By Alabama law, ALL auctions are considered with “Reserve” unless titled as “Absolute”.
NOTIFICATION OF BINDING ARBITRATION: In the event a dispute shall arise between the parties relating to the Real Estate Purchase and Sale Agreement, property issues, or the Auction, and involving the Seller, Bidder, Buyer, Auctioneer or Auction Company, in any combination, it is hereby agreed that the dispute shall be determined and resolved exclusively by neutral arbitration as provided by Alabama law and the venue shall be Shelby County, Alabama.
Default by the Seller: If the Sellers are unable to make conveyance and to give title as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.
Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.
AGENCY DISCLOSURE: Larry “Chip” Pearce Jr. and Pete Horton have not been an agent for the Buyer in this transaction. Larry “Chip” Pearce Jr. and Pete Horton have been an agent for the Seller in this transaction and is to be paid a commission by the Seller.
The Auctioneer reserves the right to reject bids from anyone who does not comply with the terms and conditions of this auction.
The Auctioneer reserves the right to cancel the auction at any time for any reason. In the event of a system or internet failure, the auctioneer reserves the right to freeze bidding and re-start bidding on a new timeline, at the discretion of the auctioneer.
The Auctioneer, agents or any of the auction companies staff or members of MarkNet Alliance reserve the right to be a bidder/buyer.
Pearce & Associates makes available to those who can't bid online, for any reason including physical health/limitations and/or the ability to access a computer or internet services, an "absentee bid form". Absentee forms will require a deposit in the amount of 10% of the max bids. Absentee bid forms are available by calling the corporate offices of Pearce & Associates at 205-664-4300.
This auction has what is called an auto extend feature, meaning the auction will not close until all bidding parties are satisfied. If any bids are placed within the last 5 minutes of the auction, the bid on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes.
Rowell Auction Terms (GEORGIA)
Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.rowellauctions.com. Please read and review the contract thoroughly prior to bidding on the property. If you have not read and reviewed the Contract for Sale of Real Property, Please Do Not Bid!
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Seller has the right to sell any properties prior to the close of auction.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as 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 for an additional 5 minutes from the previous end time.
Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the “Dynamic Close” auction extension is activated and the close time of the auction automatically extends to 12:05 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, bidding privileges are provisional, and 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, successful bidder will be emailed the contract package to execute and return to Rowell Auctions, Inc. Successful bidder will deposit $2,500.00 or 10% of the contract price whichever is greater as earnest money in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.
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: $100,000.00
Plus 10% Buyer's Premium: $10,000.00
Total Contract Price: $110,000.00
Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and return the package back to Rowell Auctions, Inc along with the required earnest money deposit within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed "Contract for Sale of Real Property" and the earnest money deposit as provided in the pre-stipulated Auction Terms, 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. and the as provided in the Auction Terms & Conditions and the "Contract for Sale of Real Property". All administrative fees are non refundable.
Closing: Time being of the essence, the sale shall be closed on or before July 23, 2024. The purchaser will pay for all closing costs associated with the transaction. Please refer to the Contract for Sale of Real Property, it is the document that governs the sale.
POSSESSION: Purchaser shall receive possession of the property at closing subject to any tenant rights. Some of the units/buildings are rented. BUYER agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer'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. On all auctions, auctioneer reserves the right to bid on auctioneer’s behalf as permitted by law.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to 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.
Pracht Auction Terms (SOUTH CAROLINA)
Contract for Sale of Real Property: The property is offered under the specific terms provided in the contract. The Offer to Purchase and Contract is available at www.prachtaution.net. Please read and review the contract thoroughly prior to bidding on the property. If you have not read and reviewed the Offer to Purchase and Contract, Do Not Bid!
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Chris Pracht Auctioneers. R&A, LLC has the sole authority to resolve any bidding disputes as they may arise.
Auction End Times: All Chris Pracht Auctioneers. R&A, LLC Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Chris Pracht Auctioneers. R&A, LLC reserves the right to adjust the auto extension time period.
Example: Chris Pracht Auctioneers. R&A, LLC Online Real Estate Auctions have an auto extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes in addition to the time remaining on the auction clock at the time the bid was placed.
Example: If an auction scheduled to end at 12:00 p.m. receives a bid at 11:59 a.m., the close time of the auction automatically extends to 12:05 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 5 minute time frame.
Chris Pracht Auctioneers. R&A, LLC reserves the right to adjust the auto extension time period.
Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Chris Pracht Auctioneers. R&A, LLC reserves the right reject the registration, and bidding activity is subject to termination.
Bidder MUST be available to be contacted by telephone at ANY time BEFORE, DURING and AFTER the Auction.
Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Chris Pracht Auctioneers. R&A, LLC Successful bidders will deposit 10% in
the form of cashier's check or bank wire transfer with Chris Pracht Auctioneers R&A, LLC Escrow Account within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Offer to Purchase and Contract”. Purchaser shall be responsible for all wire transfer fees.
POSSESSION: Purchaser shall receive possession of the property at closing subject to any tenant rights. Some of the units/buildings are rented. BUYER agrees to honor the existing leases. A copy of the lease agreement example language is under documents on the bidding page.
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final contract price.
10% Buyer's Premium Example:
Bid Price: $100,000.00
Plus 10% Buyer's Premium: $10,000.00
Total Contract Price: $110,000.00
Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute, scan, email or hand deliver the package back to Chris Pracht Auctioneers R&A, LLC within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default.
Comas Montgomery Auction Terms (TENNESSEE)
10% of final bid price due within 24 hours after the close of the auction, balance due as follows:
Closing Date is on or before July 16, 2024 (Mississippi)
Closing Date is on or before July 18, 2024 (Alabama)
Closing Date is on or before July 23, 2024 (Georgia, South Carolina & Tennessee)
Properties sell subject to owner confirmation of the bid price.
Properties sell subject to tenant rights if occupied.
Online Auctions are timed events and all bidding will close at a specified time. Online Auctions also have an auto-extend feature. Any bid placed in the final FIVE (5) minutes of an auction, the auction ending will be automatically extended FIVE (5) minutes from the time the bid was placed. Example: If an auction scheduled to close at 12:00 receives a bid at 11:59, the close time will automatically extend 12:05. The auto extend feature remains active until no further bids are received within a FIVE (5) minute time frame. This auction has the “Extend ONE Extend ALL” feature. This means ALL lots will remain open as long as there is active bidding within the catalog.
Real Estate Terms: Please Review All Online Terms Prior To Bidding. This sale has an auto-extend feature. 10% Buyers Premium added to the final bid price to determine final selling price. 10% down day of sale and balance due at closing. Must close on the property within 30 days after the auction or as it is stated on the contract for sale of real estate. Property information believed to be accurate but not guaranteed. Buyer should independently verify all information prior to bidding. Any house built prior to 1978 may contain lead-based paint. Any prospective buyer has 10 days prior to auction to complete any inspections. Announcements made day of sale take precedence over any previous advertising. Any items remaining on the property at closing shall be the buyer’s responsibility to remove.
1. Bidding Increments:
Each Comas Montgomery Realty and Auction Company Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
2. Agency:
Comas Montgomery Realty and Auction Co., Inc., Agents and Representatives are agents of the Seller.
3. Buyer's Premium:
There will be a ten percent (10%) Buyer’s Premium added to final bid price to determine the final selling price.
4. Auction Ending:
The auctioneer will have sole discretion when to close the bidding for this auction.
5. Time Increase or Decrease:
Comas Montgomery Realty and Auction Co., Inc. may increase or decrease the amount of time to place a bid for this auction.
6. Outbid Notification:
Bidders will need to watch their bidding screen to determine the current winning bid amount. Absentee bids may receive an email notice if outbid, but not guaranteed.
7. Property Information and Inspection:
Comas Montgomery Realty and Auction Co., Inc. is not responsible for any missing or incorrect listing information. Comas Montgomery Realty and Auction Co., Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Comas Montgomery Realty and Auction Co., Inc. are provided in good faith and are matters of opinion.
8. Auctioneer's Discretion:
Comas Montgomery Realty and Auction Co., Inc. 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 Comas Montgomery Realty and Auction Co., Inc. or the seller.
9. Server and Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Comas Montgomery Realty and Auction Co., Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Comas Montgomery Realty and Auction Co., Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Comas Montgomery Realty and Auction Co., Inc. THE ONLY GUARANTEE THAT YOUR BID WILL BE PLACED IS TO BE AT THE ACTUAL LIVE BIDDING EVENT!
10. Terms:
ONLINE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction (or next business day), with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. ON SITE BUYER: 10% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money IMMEDIATELY AFTER THE CLOSE OF THE AUCTION, with the balance of purchase price due at closing. Closing will be as specified in the Contract for Sale of Real Estate. This auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate under “documents” sections of the webpage.
11. Contract for Sale of Real Estate:
ONLINE BUYERS: The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed immediately following the close of the auction. ON SITE BUYERS: The contract is required to be executed immediately after the close of the auction.
12. Closing:
As specified in the Auction Day Contract for Sale of Real Estate.
13. Closing Costs:
Seller shall pay Seller’s side closing fee and document preparation fee. Buyer shall pay Buyer’s side closing fee and document preparation fee. Seller shall pay no closing costs for Buyer, including any lender's fees or recording fees unless otherwise agreed to in the Contract for Sale of Real Estate.
14. Property Condition:
Buyer specifically acknowledges herein that the property is being purchased "AS IS" and that neither the Seller nor Comas Montgomery Realty & Auction Company, Inc., makes any warranties or representations, express or implied, as to the habitability, condition, square footage, septic area, utilities, acreage or boundary lines of the real property conveyed herein. Seller is not responsible for any repairs.
15. Hold Harmless:
Buyer and or Bidder agrees to hold harmless and indemnify Comas Montgomery Realty and Auction Co., Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
16. Disputes:
Any dispute between Comas Montgomery Realty and Auction Co., Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Rutherford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
17. Auction Bidder and/or Buyer Default:
Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit AS SPECIFIED IN PARAGRAPH 10 AND 11 will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning Bidder and or Buyer shall pay to Comas Montgomery Realty and Auction Company, Inc., as damages, an amount equal to the Buyer's premium or commission percentage, as set forth in said Contract, and any and all expenses incurred by the said Comas Montgomery Realty and Auction Company, Inc., for said auction. Should Buyer's earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Comas Montgomery Realty and Auction Company, Inc. Buyer shall also pay a reasonable attorney's fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer's default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney's fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Comas Montgomery Realty and Auction Company, Inc., that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Rutherford County, Tennessee. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, by the Bidder and or Buyer, is considered to be in default.
18. Auction Cancellation – Bid Rejection:
Comas Montgomery Realty and Auction Co., Inc. reserves the right to reject any and all bids for any reason. Comas Montgomery Realty and Auction Co., Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
19. Acceptance of Bid Prices:
ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED AS ABSOLUTE. The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Comas Montgomery Realty and Auction Co., Inc. will e-mail documents to be executed and faxed or e-mail back to Comas Montgomery Realty and Auction Co., Inc. immediately following the close of the auction. Successful Bidder and or Buyers not executing and returning contract immediately following the close of the auction and earnest money deposit within 24 hours (or next business day) will be considered in default. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Comas Montgomery Realty and Auction Co., Inc., Agents, Representatives or Employees may bid. Comas Montgomery Realty and Auction Co., Inc. reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, additions or deletion.
20. Title:
As specified in the Contract for Sale of Real Estate
21. Deed:
As specified in the Contract for Sale of Real Estate
22. Possession:
As specified in the Contract for Sale of Real Estate
23. Real Estate Taxes and Closing Cost:
UNLESS OTHERWISE STATED IN THE CONTRACT FOR SALE OF REAL ESTATE, all taxes will be prorated to day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.
24. Easements/Restrictions:
Subject to any and all easements and restrictions of record.
25. Zoning:
This property is subject to all state and local zoning ordinances.
26. Acreage and Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
27. Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Comas Montgomery Realty and Auction Co., Inc. will reject the registration, and bidding activity will be terminated. The Seller and Comas Montgomery Realty and Auction Co., Inc. reserve the right to preclude any person from bidding. Comas Montgomery Realty and Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
28. Bidder Responsibilities:
Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to Comas Montgomery Realty and Auction Co., or in their sole opinion detrimental to Bidding Activity, then Comas Montgomery Realty and Auction Co., reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder. When using the web site, you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence. Comas Montgomery Realty and Auction Co., Inc. reserves the right to modify, change, or remove usernames at any time.
29. Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Comas Montgomery Realty and Auction Co., Inc.
30. Age Requirement:
All bidders must be eighteen (18) years of age or older.
31. Bidding Priority:
The auction company reserves the right to make live floor bidding a priority over all online bidding at any time during the auction.
31. By registering for this auction, you understand and expressly acknowledge that an inherent risk of exposure to COVID-19 exists in any public place where people are present. In attending the auction or preview, you and any guests voluntarily assume all risks related to exposure to COVID-19, and waive, release, and discharge Comas Montgomery Realty & Auction Co., Inc or any of their affiliates, directors, officers, employees, agents, contractors, or volunteers from any and all liability under any theory, whether in negligence or otherwise, for any illness or injury.
32. Seller reserves the right to accept an offer at anytime during this sale.
33. Any items remaining on the property at closing shall be the buyer’s responsibility to remove.
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