Multi-Par Absolute Auction Terms
1. REGISTRATION: This is an online only auction. You will need to register online to bid and agree to all terms. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. A Bidder Registering To Bid In The Auction Confirms That Bidder Fully Understands These Terms Of Auction And Unconditionally And Irrevocably Agrees To Be Bound By Them, Along With Any Additions, Deletions, Discoveries, And/Or Revisions Published To This Document By Auctioneer Before The Commencement Of The Auction.
If You Have Not Read And Reviewed The Terms For Sale Of Real Estate, Do Not Bid. We Encourage Bidders To View All Properties.
2. ULTIMATE CHOICE: Property is being offered in tracts and combinations. Bidding will be on individual tracts up to the day of auction. Combinations of tracts will be open for bidding Wednesday, December 11th. Once you have bid on an individual tract, and a combination of tracts has been placed, you could be put back in the winning position on the single tract you bid on when the combination is broken out to single tracts. There is no max bid feature for this auction. The bid you place is the bid that will be posted. (Example: If the current bid is $100,000.00 and you submit a bid of $150,000.00, that is what will show on our website as the high bid at that time.)
3. SPECIAL NOTES: All property is being sold AS IS, WHERE IS with no warranty written or implied by Atterberry Auction & Realty Co. or by the sellers. Any items remaining in or on the property at time of closing will convey with the property. Successful bidder not executing and returning the contract with earnest money deposit by end of business day of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and required earnest money deposit, Atterberry Auction & Realty Company reserves the right to charge the winning bidder a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Atterberry Auction & Realty Company and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Atterberry Auction & Realty Company reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
4. Auction End Times: Atterberry Auction & Realty Company Online Auctions are timed events, and all bidding will start closing at a specified time. Atterberry Auction & Realty Company Online Auctions also have an auto extend feature. If any bid is placed in the final 3 minutes of an auction, then 3 minutes will automatically be added to extend bidding from the time the bid was placed. Example: If an auction is scheduled to close at 12:30 and receives a bid at 12:29, the close time will automatically extend to 12:32. The auto extend feature remains active until no further bids have been placed during the extended time.
5. ACCEPTANCE OF FINAL BID: This is an absolute auction, therefore the property will sell to the high bidder with no minimum or reserve.
6. BUYER’S FEE: A buyer’s fee of four percent (4%) shall be added to the high bid, per tract, and included in the total purchase price to be paid by each successful bidder. Example: If the high bid is $100,000 the contract will be written for $104,000.
7. DOWN PAYMENT: The successful bidder(s) shall be required to make a $15,000.00/ Tract or $50,000.00 for Entirety non-refundable earnest money deposit in the form of a personal or business check, certified check or wire transfer down by end of business day of auction with remaining balance due within 45 days or upon closing. Buyer shall be responsible for any wire transfer fees, if applicable.
8. AUCTION CONTRACT: Successful bidder shall execute auction contract and deliver non-refundable earnest money deposit by end of business on the day the auction closes. Contracts will be sent to buyer(s) via DocuSign for signature.
9. PROPERTY BOUNDARIES / SURVEY: The 77 deeded acres (79.6 calculated acres, per Assessor) will be sold by the tract, not by the acre. Land measurements in this packet are approximate based on County Assessor’s information. Aerial photos are for illustration purposes only and not surveyed boundary lines. The $7,200 survey estimate will be split equally between the buyer of each tract and the seller. If the property sells as 77 deeded acres, then there will be no survey completed.
The survey/tract division is subject to final approval by the Boone County Resource Management Department.
Closing date subject to completion of the survey, in the event the survey takes longer than 45 days, all parties shall agree to extend closing until completion. The cost will be itemized on the closing statement for each party.
10. WATER SERVICE: (Per Chris West at PWSD #4) Tract 3 has a water meter on it. Tracts 1 & 2 have access to water since the tracts have road frontage, they will require directional bores under Davis Rd to access main. See infrastructure map on Atterberrysells.com for more information.
11. ELECTRIC SERVICE: (Per Kirk Pickett at Boone Electric) Boone Electric serves the East side of the COLT Railroad and Ameren UE serves the West side. Tract 3 already has power on site. See infrastructure map on Atterberrysells.com for more information.
12. COLT RAILROAD: (Per City of Columbia) Continued use of existing railroad crossing over COLT Railroad is allowed to access back portion of Tract 2. Per Boone County Resource Management, the portion of land in Tract 2 that lies south of the railroad will not be considered buildable.
13. CLOSING & CLOSING COSTS: Buyer shall close within 45 days of the auction date. Buyer shall pay applicable closing costs associated with the purchaser’s side of the sale (title company fees, document preparation fees, recording fees, loan fees, etc.). Seller shall also pay applicable closing costs associated with the seller’s side of the sale (title company fees, title insurance fees, document preparation fees, recording fees, etc.)
14. FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they can obtain the necessary financing to close the transaction. This is considered a cash transaction.
15. POSSESSION: Purchaser shall receive possession of property at closing.
16. EVIDENCE OF TITLE: Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a warranty or Trustee’s deed conveying the real estate to the buyer. Property easements, exceptions, and any other applicable legal documents pertaining to the property are available for review on auction company website www.atterberryauction.com.
17. INFRASTRUCTURE: It is ultimately up to the buyer(s) of these tracts to determine the utilities, sewage, water and anything pertaining to developing or building on any of the tracts. Atterberry Auction & Realty Company, nor the seller will be responsible for any information provided either now or in the future for this property.
18. REAL ESTATE TAXES & ASSESSMENTS: Any unpaid real estate taxes shall be paid by the Seller at closing. The real estate taxes and homeowner’s association dues (if applicable) for the current year are to be prorated to closing.
19. AGENCY: Atterberry Auction & Realty Co. and its representatives are Exclusive Agents of the Seller.
20. BROKER PARTICIPATION: A commission will be paid to any properly licensed Broker who registers a successful buyer according to the Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned 48 hours prior to the auction. We do not offer a fee, if you are a licensed real estate agent and buying for yourself. No Exceptions!
21. AUCTION DISCLAIMER: All information published, announced, or contained herein on Atterberrysells.com, Atterberryauction.com, or any 3rd party website was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on-site inspection of all property is recommended by purchaser and/or purchaser’s agent/broker. The failure of any purchaser and/or purchaser’s agent/broker 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 deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of-way, or any other information that can be obtained as public record concerning subject property.
22. DISPUTES: Any dispute between Atterberry Auction & Realty Co., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Boone county, Missouri. By bidding on any item, buyer agrees to all term and conditions set forth.
23. HOLD HARMLESS: Buyer and or Bidder agrees to hold harmless and indemnify Atterberry Auction & Realty Co. 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.
24. SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Atterberry Auction & Realty Co., reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor ATTERBERRY AUCTION & REALTY CO. 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 as deemed necessary by Atterberry Auction & Realty Co.
