May 15th Real Estate Auction Brochure

Real Estate Auction Terms: 1- The terms and conditions of the auction sale and purchase of any property shall be governed by the Contract for Sale of Real Estate, herein called Purchase Agreement. The high bidder(s) will be required to sign a Purchase Agreement in accordance with paragraphs three, four and five. 2- FEES: Buyer will pay all closing cost and associated fees. 3- NOTICE OF AWARD: This property is selling subject to owner confirmation. The high bidder(s) will be notified within 72 hours whether the bid has been accepted by the seller. 4- EARNEST MONEY DEPOSIT: An earnest money deposit equal to five (5%) of the contract price is due and payable within 48 hours of notice of award. All earnest money deposits will be deposited in Henderson Auction’s non-interest bearing escrow account. The 5% earnest money is due within 48 hours after the notice of award and is payable by wire transfer, money order or cashier’s check. This deposit will be deducted from the buyer’s settlement total at closing. The 5% deposit is forfeited if the buyer fails to close on the property. 5- PURCHASE AGREEMENT: A purchase agreement is due within 48 hours of notice of award to the high bidder(s). If the buyer fails to sign a purchase agreement or provide the earnest money deposit within 48 hours of notice of award the auction participation deposit if forfeited. 6- VIEWING/INSPECTION: The buyer is responsible to complete inspections/viewing prior to the close of the auction. 7- “AS IS, WHERE IS”: The buyer is purchasing this property “as is, where is” with no warranties expressed or implied for habitation or development. This sale is not contingent on financing. 8- POSSESSION: Possession of the property will be at closing. 9- SURVEY/PROPERTY MAPS/TAXES: Seller will provide a title abstract and any available maps or surveys as available. Seller does not guarantee current surveys. If a current survey is required, it must be acquired by the buyer. All closing costs are paid by the buyer. Seller pays property taxes pro-rated until time of auction. 10- REAL ESTATE TAXES: All real estate taxes shall be pro-rated. 11- CLOSING: Closing under all purchase agreements shall be on a date no later than forty-five (45) days after delivery of insurable title to purchaser. Buyer to pay attorney fees and closing costs. Winning Bid Subject to Owner Confirmation.