GENERAL TERMS & CONDITIONS FOR ONLINE BIDDERS

Paul McInnis LLC has been retained by the Mortgagee to sell, at foreclosure auction, the property described in the Mortgagee’s Notice of Sale.

LOCATION: The Live Auction for the property will take place on Wednesday, February 8th at 11:00 a.m. on-site at 22-24 North School Street, Portsmouth, NH.

BIDDING ON-SITE OR ONLINE: Bidders interested in bidding on the property will join the auctioneer at 22-24 North School Street. If a Bidder is unable to attend the auction in person, they will have the option to bid online during the live auction from their computer or mobile device. In order to bid online, there are additional steps a bidder must take, which will be explained later in this package.

ONLINE BIDDER DEPOSIT: If a bidder wishes to bid on the property online, they will need to provide the required deposit. Bidders can either bring a Cashier’s Check or Certified Check, made payable to Paul McInnis, LLC Escrow, to the office of the Auctioneer, or they can provide their deposit electronically through EARNNEST. EARNNEST is a digital payment platform, and a link can be found either on the Auctioneer’s website or by request of the Auctioneer at admin@paulmcinnis.com. Electronic Deposits must be initiated no less than 24 hours prior to the auction.

Deposit Amount: $10,000.00

REGISTRATION: If a bidder wishes to bid online, they will need to provide the required Deposit to the Auctioneer’s Office or electronically and submit the completed and signed Bidder Registration Form to the office of the auctioneer no later than 24 hours prior to the auction. The Bidder Registration Form can be emailed to admin@paulmcinnis.com, or sent to you through Dotloop by request of the auctioneer.

SIGNING THE MEMORANDUM OF SALE: The highest bidder at the auction will sign the purchase and sale agreement immediately following the auction. A copy of the Memorandum is included in this package which should be reviewed prior to bidding. If the high bidder is on-site, they will sign the Memorandum manually with the auctioneer. If the high bidder is online, they will receive the Memorandum electronically through Dotloop for their electronic signature. All signatures will be completed immediately before the auctioneer leaves the auction premises, or the buyer will be considered in default, and the high bidder’s deposit(s) will be forfeited. Should the successful bidder fail to execute the Memorandum of Sale the Bidder agrees to forfeit the initial deposit which shall become a NON-REFUNDABLE, NON-COMPLIANCE FEE.
DUE DILIGENCE: It is the bidder’s responsibility to undertake their own due diligence and inspection of the property prior to placing any bids. A complete review of the property information package (with additional links) including the Memorandum of Sale with your attorney is encouraged.
PROPERTY CONDITIONS: Except as expressly set forth in the real estate Purchase & Sale Agreement, if and when executed, the property is being sold "AS IS," "WHERE IS," and "WITH ALL FAULTS," as of the closing date. Neither the Mortgagee, Paul McInnis LLC nor any of their agents, contractors, attorneys, officers, or directors ("agents") makes any representations or warranties with respect to the physical condition of the land or any improvements thereon, the property’s fitness for any particular purpose, the property’s merchantability, or any other warranty, express or implied.
The Mortgagee, Paul McInnis LLC and their agents specifically disclaim any warranty, guaranty, or representation, oral or written, past or present, express, or implied concerning the land and any improvements thereon. Bidders are expected to undertake their own independent physical inspection of the property, and public records, and thorough review of all documents prior to submitting their bid(s) and to submit their bid(s) based solely on their own independent investigations and findings including but not limited to bidders’ own independent investigation of the uses, code compliance and land use regulatory approvals necessary for redevelopment and not in reliance on any information provided by the Mortgagee, Paul McInnis LLC or their agents.
If you have any questions about the properties or the auction process, feel free to email
paul@paulmcinnis.com or justin@paulmcinnis.com