REAL ESTATE AUCTION TERMS
906 Cara Jane - Redfield, AR
Summary of Real Estate Auction Terms:
Property sells with clear title, "as is", by legal description, with no contingencies for financing or repairs. 10% buyer premium. $10,000 down as earnest money on day of auction, balance due at closing in 30 - 45 days. Final bid subject to Sellers approval within 48 hrs. Seller to provide Warranty Deed and title insurance. Announcements made auction day take precedence over any previous oral or printed announcements.

Terms:
Property sells "as is" with no other warranties from Seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid.

Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Ex: $100,000 bid price + (10%) $10,000 = $110,000 contract price

At the conclusion of the auction the high bidder will immediately sign a purchase agreement for their bid plus the 10% buyer premium.

Down Payment/Earnest Money: Along with the purchase agreement, Bidder will submit $10,000 in the form of cash, cashier's check or certified good personal or company check to be deposited and escrowed in Orrell Auctions & Real Estate PLLC's Trust Account. Balance of purchase price required in approximately 30 -45 days at closing. Down payment will be credited to buyer at closing. If you cannot close you will forfeit your down payment.

Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be secured before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money.

"Subject to Sellers Approval" - Seller will have 48 hrs. to accept or reject the high bid. When accepted and signed by the seller, this agreement becomes the purchase contract.

Title: Seller will guarantee good title at closing by providing Owner's Title Insurance and a Warranty Deed free of all liens and encumbrances but subject to any easements of record.

Closing will be in approximately 30 - 45 days from auction.

Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation.
Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any.

Property taxes will be prorated as of the date of closing.

D L "Dink Webb 870-543-0882 AALB#62
Orrell Auctions & Real Estate PLLC - 870-723-9116 AALB# 1947

Real Estate Auction 906 Cara Jane, Redfield, AR 72132 Open House Sunday July 14th 2 PM til 4 PM Live Bidding On Site - Wed July 24th at 2PM 2 story - 2004 sq ft - 3 bed, - 2.5 bath Recently Remodeled - Newly added Safe Room 16KW Generac7036 Guardian whole house power generator 2 car garage - 4 ft chain link fenced back yard - asphalt driveway Stone front entrance - 888 sq ft wood rear deck - Viewing: Open House Sunday July 14th from 2pm til 4pm or view 1 pm day of auction. For more info call D L "Dink" Webb 870-543-0882 Terms: Property sells "as is" with no other warranties from Seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid. Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Ex: $100,000 bid price + (10%) $10,000 = $110,000 contract price At the conclusion of the auction the high bidder will immediately sign a purchase agreement for their bid plus the 10% buyer premium. Down Payment/Earnest Money: Along with the purchase agreement, Bidder will submit $10,000 in the form of cash, cashier's check or certified good personal or company check to be deposited and escrowed in Orrell Auctions & Real Estate PLLC's Trust Account. Balance of purchase price required in approximately 30 -45 days at closing. Down payment will be credited to buyer at closing. If you cannot close you will forfeit your down payment. Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be secured before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money. "Subject to Sellers Approval" - Seller will have 48 hrs. to accept or reject the high bid. When accepted and signed by the seller, this agreement becomes the purchase contract. Title: Seller will guarantee good title at closing by providing Owner's Title Insurance and a Warranty Deed free of all liens and encumbrances but subject to any easements of record. Closing will be in approximately 30 - 45 days from auction. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any. Property taxes will be prorated as of the date of closing. For more info call D L "Dink" Webb 870-543-0882 AALB#62 Orrell Auctions & Real Estate PLLC 870-723-9116 AALB#1947