Auction Terms and Conditions- Extend-One, Extend-All
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. SPECIAL NOTES: All property is being sold AS IS, WHERE IS with no warranty written or implied by Atterberry Auction & Realty Company, 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.
3. AUCTION END TIMES: Atterberry Auction & Realty Co. online auctions are timed events with a specified closing time. Our auctions utilize an auto-extend feature with Extend-One, Extend-All bidding. This means that if a bid is placed within the final three (3) minutes on either lot, the countdown timer will reset to three (3) minutes on both lots to allow all interested bidders the opportunity to respond. If bidding continues beyond fifteen (15) minutes past the scheduled closing time, the reset interval will reduce to two (2) minutes for any bid placed within the final two (2) minutes. Both lots will remain open and continue to extend in this manner until no further bids are placed on either lot and the time clock expires, at which point the auction will close.
4. ACCEPTANCE OF FINAL BID:
LOT 1 (Home): This is a Reserve Auction. Seller reserves the right to accept the final bid. This sale is subject to court approval as it is a court-monitored probate proceeding, and no sale shall be deemed final until confirmed and approved by the court having jurisdiction over the estate.
LOT 2 (Vacant Land): This is an Absolute Auction and the lot will sell to the highest bidder regardless of price. No court or seller approval is needed.
5. BUYER’S FEE: A buyer’s fee of four percent (4%) shall be added to the high bid and included in the total purchase price to be paid by successful bidder(s). Example: if the high bid is $100,000.00, the contract will be written for $104,000.00.
6. DOWN PAYMENT: The successful bidder shall be required to make a non-refundable earnest money deposit in the form of a personal or business check, certified check, or wire transfer by the end of the business day on the date of the auction. The earnest money shall be in the amount of $30,000 for the home and $10,000 for the vacant lot. The balance of the purchase price shall be due within thirty (30) days or upon closing, whichever occurs first. The Buyer shall be responsible for any wire transfer fees, if applicable.
7. 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.
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.
9. CLOSING & CLOSING COSTS: Buyer shall close within 30 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.)
10. POSSESSION: Purchaser shall receive possession of property at closing. Anything left in or on the property at time of closing shall convey to buyer.
11. 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.
12. SURVEY: No boundary survey will be provided as part of this auction. 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.
13. 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.
14. AGENCY: Atterberry Auction & Realty Company and its representatives are Exclusive Agents of the Seller.
15. 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.
16. 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, right-of-ways, or any other information that can be obtained as public record concerning subject property.
17. DISPUTES: Any dispute between Atterberry Auction & Realty Company, 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 terms and conditions set forth.
18. HOLD HARMLESS: Buyer and or Bidder agrees to hold harmless and indemnify Atterberry Auction & Realty Company, 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.
19. 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 Company, reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor ATTERBERRY AUCTION & REALTY COMPANY 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 Company.
