AUCTION TERMS AND CONDITIONS
AUCTION LOCATION & TIME: This auction is being conducted online only. The
Auction Bid Deadline is September 26th @ 11 AM EST.
INSPECTION: Bidders are encouraged to make their own inspections prior to
bidding. Please contact Auctioneer for instructions on how to inspect property.
AUCTION REGISTRATION: Registration and online bidding to start on
September 19th
.
AGENCY: Bullseye Auction & Appraisal, LLC is acting exclusively as agent for
the seller.
TERMS: Unless otherwise noted on the website, the winning bidder will submit a nonrefundable ten percent (10%) earnest money deposit of the purchase price (high bid
amount plus buyer’s premium) made payable to Edwin K. Palmer, Chapter 7 Trustee for
Gene Venesky Escrow Account. Immediately following the auction, winning bidder will
sign an “as-is” Auction Real Estate Sales Contract. A copy of the Auction Real Estate
Sales Contract may be reviewed prior to the auction. Please contact Auctioneer for a
copy.
CLOSING: Unless otherwise noted, balance of the purchase price is due within 30
days of Auction Real Estate Sales Contract acceptance.
CLOSING ATTORNEY: Closing to occur at the offices designated by the
Buyer. Buyer is responsible for all closing fees charged by Seller Designated
Attorney.
BUYER’S PREMIUM: There is NO Buyer’s Premium for this auction.
BROKER PARTICIPATION: Unless noted otherwise in property listing or herein, a
broker commission of twenty (20%) of Auctioneer commission will be paid on real
estate. For most transactions, this will equate to a commission of two (2%) of the bid
amount of that transaction. A commission will be paid to the properly licensed broker
whose prospect purchases and closes on the real estate. To qualify for a commission, the
Broker must register by mail, email, fax or hand delivery using the Broker Registration
Form posted to the website for the property listing within 48 hours of the scheduled
auction. Broker must also attend the auction and sign the Auction Real Estate Sales
Contract if their client is the winning bidder. Commissions to be paid only upon
closing. A Broker cannot act as a principal and a broker on the same transaction.
AUCTIONEER’S AUTHORITY: Bid increments are at the discretion of the
Auctioneer. Auctioneer shall make the final decision as to the final high bid amount and
winning bidder.
FINANCING: Financing is NOT a contingency to the Auction Real Estate Sales
Contract. Bidders are encouraged to make have all necessary financing in place prior to
registering for the auction.
INSURABLE TITLE: Unless otherwise noted and announced at the auction, Auction
Real Estate Sales Contract is contingent upon Sellers ability to convey insurable title.
SPECIAL NOTE: Property is selling “as-is, where is” with all faults and is selling
subject to easements, leases, restrictions, zoning, covenants, conditions and all other
matters revealed by a survey or by inspection of the property or contained in public
records. Real property to be conveyed by trustees deed. Only the following sale closing
costs will be paid by seller: (1) Commissions or brokerage fees to auctioneer and/or
cooperating Brokers as set forth in separate agreement with auctioneer, and as established
in these Terms and Conditions; (2) reasonable title corrective expenses, in Seller’s sole
determination; and (3) prorated property taxes and back taxes due, if any. All other
closing costs, including but not limited to surveys, title examination, tax stamps, loan
closing costs, and closing attorney fees are at the expense of the Buyer. Unless noted
otherwise, Buyers pay all closing fees charged by closing attorney.
Although every precaution has been taken to ensure the accuracy of all printed and
announced information, neither the seller, Bullseye Auction and Appraisal, LLC, nor
their agents will be responsible for any errors or omissions herein. Bidders are
encouraged to carefully inspect the property and information before registering for the
auction and placing a bid. Auctioneer reserves the right to add or delete any property
prior to the scheduled auction date. Announcements made on the day of the auction take
precedence over all advertising.
PRE-AUCTION OFFERS: All offers must be submitted to Auctioneer no later than 48
hours prior to each scheduled auction.
SALE MANAGER: Please view individual website posting.