Terms & Conditions
Contract for Sale of
Real Property: Each property is offered under the specific terms provided
in the contract. The Contract for Sale of Real Property is available at
www.rowellauctions.com. Please read and
review the contract thoroughly prior to bidding on the property. If you have
not read and reviewed the Contract for Sale of Real Property, Please Do Not
Bid!
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as
they may arise.
Auction
End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are
timed events and subject to extended bidding due to bidding activity. Rowell
Auctions, Inc. reserves the right to adjust the auto extension time period.
Example: Rowell Auctions, Inc. Online Only
Real Estate Auctions have a “Dynamic Close” auto extend feature. A bid placed
within 5 minutes of the advertised auction end time will automatically extend
the auction and reset the timing remaining in the auction to 5 minutes
remaining. Example: If an auction scheduled to end at 2:00 p.m. receives a bid
at 1:59 p.m., the “Dynamic Close” auction extension is activated, and the close
time of the auction automatically extends to 2:04 p.m. The “Dynamic Close”
auto-extend feature remains active until no further bids are received on any of
the properties in the entire bidding group of properties within the auto extend
time frame at which time the auction will close.
Bidder
Verification: The identity of all bidders will be verified, and bidding
privileges are provisional. If complete verification is not possible, Rowell
Auctions, Inc. reserves the right reject the registration, and bidding activity
is subject to termination.
Terms: At
the close of the auction, successful bidder will be emailed the contract
package to execute and return to Rowell Auctions, Inc. Successful bidder will
deposit 15% of the contract price as earnest money in the form of cashier's
check or bank wire transfer with Rowell Auctions within 24 hours of receipt of
the contract package. The entirety of the remaining balance is due at closing
as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be
responsible for all wire transfer fees.
Buyer's Premium: A
10% Buyer’s Premium will be added to the bid price to determine the final
contract price.
10% Buyer's Premium
Example:
Bid Price: $100,000.00
Plus 10% Buyer's
Premium: $10,000.00
Total Contract Price:
$110,000.00
Contracts: Contract
Packages will be sent by e-mail to the successful high bidder at the conclusion
of the auction. The successful high bidder must execute and return the package
back to Rowell Auctions, Inc. along with the required earnest money deposit
within 24 hours of receipt. Successful high bidders not executing and returning
their contract with earnest money deposit within 24 hours of receipt will be
considered in default and subject to an Administrative Fee (as defined below). All
Administrative Fees are non-refundable.
Auction Administrative
Fee: In the event a winning bidder fails to submit the signed
"Contract for Sale of Real Property" and the earnest money deposit as
provided in the pre-stipulated Auction Terms, the winning bidder will be
charged an administrative fee of $2,500.00 on the credit card provided at
auction registration. Additional default remedies are reserved by Seller and
Rowell Auctions, Inc. and the as provided in the Auction Terms & Conditions
and the "Contract for Sale of Real Property". All administrative
fees are non-refundable.
Closing: Time
being of the essence, the sale shall be closed on or before March 20, 2026. The
purchaser will pay for all closing costs associated with the transaction.
Please refer to the Contract for Sale of Real Property, it is the document that
governs the sale.
Agency Disclosure: In
all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not
as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel
the bids and or bidding rights and privileges of any party, deemed not to be in
the best interest of the seller, at any time. At auctions with reserve, the
seller and/or auctioneer reserves the right to bid on the Seller’s behalf.
On all auctions, auctioneer reserves the right to bid on auctioneer’s
behalf as permitted by law.
Disclaimer: All
information contained herein is believed to be correct to the best of the
auctioneer's knowledge. The information is being furnished to the bidder for
the bidder's convenience and it is the responsibility of the bidder to
determine that information contained herein is accurate and complete. Any
reliance on the contents shall be solely at the bidder’s risk. Bidder must
conduct and rely solely upon their own investigations and inspections. The
property is being sold "AS IS" with any and all faults. Please review
all information supplied and seek appropriate assistance prior to bidding.
THANK YOU FOR PARTICIPATING IN OUR AUCTION!
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