Terms



REAL ESTATE LISTING by Pearce Properties & Auction Marketing, Inc. 


These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.




The property will be sold by legal description and transferred by warranty deed.

Selling Subject to Sellers Approval.

Selling "As/Is" 

Purchaser to receive possession of the property upon delivery of deed at closing.



Purchaser to pay closing cost and title insurance. Seller guarantees

title to be free and clear.



Ad Valorem taxes will be prorated at closing.



PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.



BUYERS NOTE:  Sellers and Brokers are assuming that the buyers have inspected the property and are satisfied and accept it “As/Is” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure  to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of an offer or earnest money after its opening  or tender.



All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.



The  company and/or it’s employees reserve the right to bid on behalf of the Seller, Lender, Estate Executor, Administrator, Government agency or any party having an interest in the property.

NOTIFICATION OF BINDING ARBITRATION: In the event a dispute shall arise between the parties relating to the Real Estate Purchase and Sale Agreement, property issues, or the Auction, and involving the Seller, Bidder, Buyer, Auctioneer or Auction Company, in any combination, it is hereby agreed that the dispute shall be determined and resolved exclusively by neutral arbitration as provided by Alabama law and the venue shall be Shelby County, Alabama.



Default by the Seller: If the Sellers are unable to make conveyance and to give title as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.



Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.



AGENCY DISCLOSURE: Damon Folmar, Broker  has not been an agent for the Buyer in this transaction. but has been an agent for the Seller in this transaction and is to be paid a commission by the Seller.

SECOND CHANCE OFFER! 

This property was previously sold at auction but the buyer could not perform so it's back on the market at a list price of $340,000 

Brokers welcome! 

This is not an Auction but a real estate listing

Damon Folmar, Broker

205.966.8114