General Real Estate Terms:
1. A 10% buyer's premium will be used to determine the final contract purchase price.
2. There will be a $5,000 non-refundable down payment made payable to the auction company within 24 hours of the conclusion of the internet auction bidding processes These funds will be held in the Auction Company Escrow account and will be applied toward the final purchase of the property at time of closing.
3. A valid Visa or MasterCard is required to register & bid during the auction, and the bidder must have a minimum availability of the $5000.00 to bid. No chargebacks alllowed.
4. A cashier's check or a good local personal check, with a bank letter of guaranteed credit addressed to the auction company, must be presented to the auction company at 911 E. Court Avenue, Jeffersonville, Indiana 47130 within 24 hours of the online bidding processes.
5. Balance of the final purchase price must be presented to the sellers at closing within 30 days from the day of purchase contract signing/acceptance.
6. Failure to deliver certified funds for the down payment as specified in the these online terms will result in a credit card transaction for the non-refundable down payment. Buyer's acknowledgement of the puchase contract shall take place at the auction company office and certified funds for the non-refundable down payment must be presented at this time. In the event the seller is unable to pass clear tile all funds received shall be returned to the buyer as presented and without interest. All funds will be deposited into the auctioneer's escrow account and will be applied to the final purchase upon a successful closing.
7. All property taxes due for the May 2015 tax period will be assumed by the buyer and shall be paid by the buyer at closing, seller shall furnish a deed and all other closing related expenses shall be paid by the buyer.
8. All terms and conditions announced verbally by the auctioneer shall take precedence over all previous advertisements or announcements oral or written.
9. The property will be sold as-is with no warranty, refunds or exchanges.
10. The property will be sold only after exceeding the minimum opening bid and it shall be the bidder's responsibility to determine suitability of the property prior to the close of the bidding time period.
11. The property will be sold with no contingencies and the final purchase will not be subject to the buyer's ability to obtain a loan or the policies or procedures of any lending institution, Failure of performance of any buyers or agencies of the buyers shall constitute failure of performance with full forfieture of all downpayments and not eliminating any of the seller's legal rights to pursue remedies for non-performance.
12. Lead Based Paint inspection period to begin April 2, 2015. Real estate will be available for inspections or preview beginning April 2 and by appointment only; a public preview period/open house period is scheduled for Monday, April 6, 2015, 5 - 7PM. A lead based paint phamplet How to Protect the family in the home) will be presented at time of contract signing by the buyer at the office of the Auction Company.
13. All real estate related inspections are welcome at buyers expense prior to the close of the auction or contract acceptance, but property is being sold as-is with no seller concessions or contingencies.
14. No cooperating broker's fees will be offered for this auction.
15. The Auction Company employees reserves the right to place a bid on the property scheduled for this auction but must adhere to all terms & conditions established for the general public.
16. Any disputes or collections will be filed or settled in the Courts of Clark County, Indiana. Additional fees may be assessed for unpaid balances and collection service fees.
17. Absentee bids may be handled on a case by case basis. All bidding is encouraged to be handled through Bidopia the online bidding services provider to McGinnis Auction & Appraisal Services.
18. McGinnis Auction & Appraisal Services reserve the right to cancel and/or reopen the auction in the case of system failures and McGinnis Auction & Appraisal Services can not accept or will not accept any responsibility for any technical failures during this auction .
19. McGinnis Auction & Appraisal Services reserves the right to remove the property from the auction at anytime during the auction until the item has been declared sold upon an acceptable offer by the seller.
20. McGinnis Auction & Appraisal Service, John McGinnis, Auctioneer & Fran Evola, Broker are acting as agents only of the sellers.
21. This auction property is subject to prior sales and all offers outside the online bidding will be presented to the seller and the seller reserves the right to accept or reject such offers. In the event an outside offer is accepted this online auction will be terminated.
22. For this particular auction there are no coorporating brokers fees offered for this auction, The Auctioneer & Broker are acting only as agents for the seller. Any buyer representation from other sources shall be an expense to the buyer.
23. At our sole discretion McGinnis Auction & Appraisal Services reserves the right to reject any bid or bidder during this auction.
24. John McGinnis Auctioneers Inc. DBA McGinnis Auction & Appraisal Services is licensed in the State of Indiana under AC30900136, John McGinnis, CAI, CES, CAGA, (812) 282-7253 IN AU196000081.
Fran Evola, Real Estate Broker for this transaction. Sellers: Anita Barton, Co-Owner, Christy Meyers, Co-Owner & Attorney-In-Fact for Anita Barton.
email: email@example.com and in the subject identify: Lane Avenue