EXHIBIT “B”
TERMS AND CONDITIONS
AW61, LLC
Greenwood, Greenwood County, SC
Saturday, September 26th at 10:00 AM
These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “B”, which will prevail over this document and any other agreement between the Buyer and Seller.
CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a contract with AW61, LLC (Seller) TO SELL AT AUCTION 20 parcels of real estate located at 1709 Briarwood Rd, Greenwood, SC.
All property, real and personal, is selling “AS IS, WHERE IS” and being conveyed by Seller as provided for below. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to its condition; and any repairs, alterations, damage, cleanup, removal of debris, waste, personal property, etc., are the sole responsibility of the buyer. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Seller nor the Auction Company makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that they have inspected the Property and are not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof. Buyer acknowledges and agrees that at closing there may be the existence of equipment, personal property and/or scrap materials located upon or within the property and agrees to accept the same in AS IS condition.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the auction.
The Seller has the right, at their sole discretion, to add or withdraw all or any portion of the property before the auction’s opening announcement on Saturday, September 26th at 10:00 AM. This property is Selling Subject to Owner Confirmation, reserving the right to hold ALL offers open until Monday, September 28th at 5:00 PM. This is a Partnership Dissolution sale, and if an LLC Member is bidding, they are bidding as an individual and will close under the same terms and conditions as any other participant.
CONVEYANCE: All property will be conveyed by a Limited Warranty Deed with title insurance available at the Purchasers’ expense.
RESERVATIONS & RESTRICTIONS: All Personal Property and Equipment are reserved. The real estate will be sold subject to any and all restrictions, public utilities, encroachments, zoning ordinances, easements, Greenwood County regulations, protective covenants, any existing rights of way, and all other matters now of record or shown on attached plat. A portion of this property lies in the 100-year floodplain as depicted by the below-mentioned survey.
ONLINE PURCHASER'S PAYMENT: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Dempsey Auction Co. Successful bidders will deposit 10% of the Contract Sales Price as earnest money in the form of cashier’s check or bank wire transfer with Dempsey Auction Co within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Terms and Conditions”. Purchaser shall be responsible for all wire transfer fees. 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.
DEFAULT: In the event a winning bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Co and the Sellers as provided in the Terms and Conditions and the Sales Contract.
PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the Contract Sales Price immediately following the Auction. This payment may be made with either a personal or company check. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Co. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.
SURVEY: We are selling this property according to a registered boundary survey performed by Mr. Foard H. Tarbert, SCRLS # 11072, which will be recorded in Greenwood County prior to closing. A survey, staking and recording fee of $1,500 for Tracts #1-8, $2,000 for Tracts # 9-14 and $3,000 for Tracts #15-20 will be due and collected today. The accuracy of the survey is the sole liability of the surveyor and the Purchaser, and the Purchaser does hereby release the Seller and Dempsey Auction Co from all liability in all matters concerning the survey. All Acreages are approximate, and any acreage adjustments will be handled at closing.
CLOSING: Closing shall take place within 30 days of sale date in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. Closing to be handled by Mr. Chip Howe with Howe & Rice, LLC, 509 North Broad St, Clinton, SC, 864.833.4748.
CLOSING COSTS: The Seller will provide a Conveyance Deed at closing. If for some reason the Seller is unable to convey good and marketable title to the property, unless otherwise noted, the Purchaser's Earnest money deposit will be returned.
All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc. will be at the Purchaser’s expense.
POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before October 26, 2026.
TAXES: The 2026 Real Estate property taxes will be prorated to the date of closing. If any additional taxes are assessed resulting from the change of use by the purchaser, they will be the responsibility of the purchaser.
AGENCY: In order to fall into compliance with the SC Agency Disclosure Laws, Dempsey Auction Company is acting as Listing Agent and Selling Agent for the Seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between Seller and the Auctioneer. The Auctioneer is not acting as an agent for the Purchaser in this transaction. Any third-party Broker is not a sub-agent of the Auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms or conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information. Dempsey Auction Company is the “Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller.
METHOD of SALE: DAC reserves the right to offer the property any way we see fit to obtain the seller the most money.
NOTE: This auction is being recorded by audio in its entirety for legal purposes.
I have received, read, understand, and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “B”.
