US Real Estate Auction Terms
Download PDF | Download DOC (Word Doc)HEAD AUCTIONS & REALTY
REAL ESTATE TERMS: The successful bidder will be required to make a 10% non-
refundable deposit the day of the auction. The sale IS NOT subject to the buyer’s ability to
obtain financing nor any other contingency, feasibility period, or the results of inspections or
appraisals. Should the buyer default and fail to close as specified, the buyer will forfeit their
deposit, which will immediately be released to the Auction Co. / Broker. A 10% buyer’s
premium is in effect and will be added to final bid accepted, subject to Sellers Confirmation,
which will establish the final contract or sales price. Closing will be within 30 days of the
auction date. If Seller fails to close or deliver clear title, the Auction Co. / Broker will not be
responsible. If for any reason the sale cannot be consummated because of the seller, the down
payment will be refunded. Closing costs will be paid for by the buyer. The property is offered
“AS IS – WHERE IS” with no contingences, repairs, clean up or improvements. Prospective
buyers should inspect the property prior to sale day. Information provided by auction co. is
believed to be accurate; however, auction co. does not guarantee accuracy of the information
provided. Successful bidder will be required to sign a contract upon conclusion of the bidding.
Bidder understands and agrees that William Head and Head Auctions & Realty represents the
Sellers and will not be considered an agent for the Bidder.
ONLINE ONLY Real Estate Auction Terms
Download PDF | Download RTF (Word Doc)To register and participate in this real estate auction, the buyer must agree to bring a nonrefundable deposit to our office and execute a purchase agreement the next business day following the conclusion of the auction. Deposit must be in the form of cashiers check, personal check with bank letter of guarantee or cash.
Be it understood that Head Auctions & Realty advises all potential buyers to seek legal counsel if for any reason they do not understand any part of the auction’s TERMS and CONDITIONS. The buyer confirms that by signing this form that he/she understands and agrees to the terms and conditions of this auction sale.
Agency Disclosure: It is clearly understood and agreed by the parties hereto, Head Auctions & Realty is the selling agent and all parties employed by or associated with Head Auctions & Realty represent the Seller in this transaction. Further, the Buyer and Seller confirm that verbal disclosure of representation was provided them prior to signing this agreement.
Terms & Conditions: THIS IS AN INTERNET ONLY AUCTION - If you prefer to turn in a bid in person, please call the office at 601-613-8693 to make arrangements. The sale is with reserve and subject to seller’s approval unless explicitly stated in the terms and conditions as being sold without reserve or absolute. Deposit: The winning bidder is required to bring a deposit of ten percent (10%) to our office and execute a purchase agreement the next business day following the conclusion of the auction. Deposit must be in the form of wire transfer, cashier’s check, personal check with bank letter of guarantee or cash. Buyer’s Premium: A 10% buyer's premium will be added to the final bid. If you bid $100,000.00 the total sale price will be $110,000.00. Possession: Closing will take place no more than 30 days from day of auction. The seller at closing will convey good and marketable title. Buyer will be responsible for all closing costs.
Easements: The sale of this property is subject to any and all easements of record. Real Estate Taxes: Real Estate taxes shall be prorated to date of possession.
Purchase Agreement: The successful bidder shall execute a purchase agreement the following business day after being declared the winning bidder by the auctioneer. Please Note: The purchase agreement will offer no contingencies, including but not limited to financing.
Terms: The property is being sold “AS IS, WHERE IS” without warranty or guarantee of any kind. Each potential buyer is encouraged to perform his/her own independent inspections, investigations, inquiries and due diligence concerning the described property.
Agency Disclosure: Head Auctions & Realty is the selling agent and all parties employed by or associated with HeadAuctions & Realty represent the Seller in this transaction.
Financing: Terms for this auction are cash. The seller is offering no other terms or contingencies. Therefore the buyer may NOT purchase this real estate subject to loan approval.
Broker Participation: Head Auctions & Realty encourages Broker/Agent participation. To qualify for a two & half percent (2.5%) Buyers Agent Commission, all Agents must register their client 24 hours prior to the auction. Bring your buyers. This is a good opportunity for you & your buyer. We teach you everything that you need to know about the auction process.
Backup Bids: In the rare event that the winning bidder is unable to close on this transaction, we do accept backup bids. If you are not the winning bidder and would like to make a backup bid. Please call our office for the necessary paper work.
Dynamic Closing: The closing time of an asset is automatically extended an additional 3 minutes whenever a bid is placed within the last 3 minutes of the asset's closing time.
Warranty and Condition of Items Sold: All items are sold 'AS IS, WHERE IS, with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the condition of the items and bid accordingly. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item, please bid accordingly.