ROPERTY ADDRESS: Woodland and 121st Lane, Olathe, Kansas

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE TERMS FOR SALE OF REAL ESTATE, DO NOT BID.

AUCTION END TIMES: West Central Auction Company Online Auctions are timed events and all bidding will close at specified time West Central Auction Company, Online Auctions also have an auto extend feature. Any bid placed in the final 3 minutes of an auction, the auction ending will be automatically extended 3 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:03.The auto extend feature remains active until no further bids are received within a 3 minute time frame.

ORDER OF SALE: Offering - The real estate will be offered in one tract, as a whole by the dollar. Bid price + 10% Buyer's Premium = Contract price.

CONDITIONS OF SALE: EVERYONE MUST REGISTER FOR A BIDDER NUMBER. The owner does warrant that they have good merchantable title to the real estate subject to all matters of record (including easements and restrictive covenants as to the use and improvement of this property), all applicable regulations imposed by the local planning and zoning authority, taxes and assessments for 2021 and subsequent years and all matters which would be disclosed by an accurate survey or inspection of the property (collectively the “Permitted Exceptions”) and that they will convey the same with a special warranty deed, subject only to the Permitted Exceptions at the time of closing.
ORDER OF SALE: Offering - The real estate will be offered by individual tract, by the dollar. Bid price + 10% Buyer’s Premium = Contract Purchase Price.

RESTRICTIONS: Subject only to all City of Olathe, Johnson County and State of Kansas laws, ordinances, and regulations. Also selling to all easements of record and restrictions of record including the HOA documents.

AUCTION CONTRACT: Please note that the Auction Contract you will execute immediately following the close of the auction will be drawn up based on the manner in which you bid. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.

REAL ESTATE BROKERAGE SERVICES DISCLOSURE: West Central Auction Co. represents the seller in this transaction. We do not represent the buyer in any manner, we must be completely loyal and faithful to our client. West Central Auction Co. has an exclusive right to sell listing for this transaction. All negotiations must be conducted through West Central Auction Co. West Central Auction Co. is exclusive agent for the sellers in this transaction.

WEST CENTRAL AUCTION CO. INVOLVEMENT IN THIS CONTRACT: The seller and buyer hereby agree that West Central Auction Co. is a part of this contract and shall receive compensation as stated in agreement hereto or as stated in listing agreement hereby made a part of.

SPECIAL NOTES: All property is being sold “As Is, Where Is” with no warranty written or implied by West Central Auction Co. or by the sellers.
SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract today.

CLOSING COST: Seller will prepare a special warranty deed. Seller agrees to furnish at Sellers expense an Owner’s Policy of Title Insurance in the amount of the purchase price. Seller and Buyer shall pay their share of the costs of closing.

CLOSING LOCATION/AGENT: Closing agent/location will Coffelt Land Title, Closing shall occur within thirty (30) days after the auction.
TAXES: Taxes will be prorated to the day of closing.

BUYER’S PREMIUM: A premium of 10% of the Bid Price (the “Buyer’s Premium”) will be added to your final bid to equal the contract Purchase Price.

TERMS: A deposit of 10% of the Purchase Price shall be paid today in Cash or Check, with the balance due in 30 days. This transaction is not contingent on financing.

LIQUIDATED DAMAGES: If Buyer fails to close within stated time herein and no written extension has been granted by the Seller, the Buyer will forfeit all the deposit as liquidated damages. If such action occurs, West Central Auction Co. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the buyer for performance damages and/or any additional damages the seller suffers by the default of the buyer.

BACK UP BIDS: If you are not the successful bidder on the real estate today and wish to make a backup bid in case of default by the high bidder, please see Jason Winter to receive a Back Up Bidder Form.

ESCROW: All monies collected on sale day will be placed in the escrow account of the closing agent as listed herein prior to closing.

POSSESSION: Purchaser shall receive possession of property at closing.

CONFIRMATION: Selling subject to owner’s confirmation.

All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal onsite inspection of all property is recommended. The failure of any bidder 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 way, or any other information that can be obtained as public record in the Johnson County Court House concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are buying the property “As Is, Where Is” with no guarantee or warranty.

West Central Auction Co. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller).
I was provided a copy of this “Notice of Auction Information, Terms and Conditions” at the time I registered and have read and understand the information as printed.

I understand this document will be attached and become a part of the Real Auction Sales Contract.

____ __________________________
No. Print Name of Registered Bidder
Phone __________________________
Street ___________________________
City ____________________________
State ________________ Zip _______
________________________ _______
Signature
___ / ___ / 20_____
Date
I certify that I have provided the regis¬tered bidder named above with a copy of this “Notice of Auction Information, Terms and Conditions”.
________________________________ Name of Broker or Sales Associate
________________________________ Signature


West Central Auction Co. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller).

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, West Central Auction Company, reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor WEST CENTRAL AUCTION 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 West Central Auction Company.

Buyer: ________________________Date_________


Buyer:_________________________Date:________