Auction Terms & Conditions 1. This is an internet bidding only auction with no live onsite bidding.
2. General Real Estate Auction Terms: A 10% buyer's premium will be added to determine the final contract purchase price.
3. A valid Visa or MasterCard is required to register & bid during the auction, and the bidder must have a minimum card availability of the $5000.00 to bid. A cashier's check for $5,000.00 from a local financial institution, 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 closing of the auction.
4. Balance of the final purchase price must be presented at closing within 45 days from the day of contract acceptance. Failure to deliver certified funds for the down payment as specified in the online auction terms may result in credit card transactions for the non-refundable down payment or other legal actions as required.
5. All property taxes due shall be prorated between the buyer/sellers. More specific on-line bidding terms may be posted on the website for the online bidding service through www.mcginnisauctions.com. All terms and conditions posted online shall take precedence over all previous announcements. The property will be sold as-is with no warranty, refunds or exchanges. It shall be the bidder's responsibility to determine suitability of the property prior to the close of the bidding process.
6. The property will be sold with no contingencies. Lead Based Paint inspection period to begin July 20, 2017. Real estate will be available for inspections or preview beginning July 20 and by appointment only; a public preview period/open house period will be posted online at the auction company website and is tentatively scheduled for Monday, July 24, 5 - 7PM.
7. All real estate related inspections are welcome at buyers expense prior to the close of the auction, but property is being sold as-is. Watch our website for details or updates, www.mcginnisauctions.com.
8. A cooperating broker's fee of 1.5% will be offered to licensees representing the successful buyer on this property with prior registration. The Auctioneer and Real Estate Broker are acting as agents only for the seller, and any member of the auction or real estate companies reserve the right to bid.
9. To prevent last minute bid sniping the online bidding process uses a soft close method, if 2 or more bidders are bidding the time will be extended for 3 minutes with each additional bid until no more bids are entered.
10. All property taxes due shall be prorated between the buyers & sellers at time of closing.
11. For additional information concerning auction matters or to schedule inspection appointments please call: John McGinnis, CAI, CES, CAGA, at 812-282-7253. All other real estate brokerage questions shall be directed to Fran Evola, Broker, with Real Estate Unlimited at 812-288-6080. Selling on behalf of Billy Patton Estate, Virginia Lewis, Personal Rep., Matthew Jacobs, Esq. John McGinnis, Indiana Auctioneer's License AU19600081. McGinnis Auction & Appraisal Service, Jeffersonville, Indiana AC30900136
Seller User Terms
Bidder User Terms