ASSOCIATED AUCTIONEERS AND APPRAISERS, INC.
tla Gregory & Associates Auctioneers
REAL ESTATE CONTRACT OF SALE
An online auction having taken place regarding the purchase and sale Of
(hereinafter 'the Property") on the
day of
2026, the Seller and Purchaser hereby agree to the following terms and
conditions regarding the purchase and sale of the Property.
BUYER IS
referred to as "the Buyer".
SELLER IS
referred to as "the Seller".
and shall be hereinafter
and shall be hereinafter
2.
The Buyer agrees to pay the high bid price, a 10% Buyer's Plemium and all other costs and
fees as stated hereinbelow. high bid price and thc Buyer's Premium shall be referred to
herein as the "Total Price".
high bid price is
Ille Buyer's Premium is
Total Price is
'Ihe Total Price shall be paid as follows:
a.
b.
d.
An earnest money deposit of S
is due immediately upon the execution of
this Contract of Sale by Buyer. This deposit shall bc held by the Escmw Agent
identified herein and shall be applied to the Total Price at settlement hereunder.
The Buyer's Premium is due and shall be paid to the Escrxy.v Agent within seven (7)
business days from the end of the auction. The Buyer's Premium is a non-refundable
fee paid to the Auctioneer and is not an earnest money deposit. The Buyer's
Premium shall be applied to the Buyer's Premium portion Of the Total price due at
closing hereunder.
The balance of the purchase price plus closing costs due hereunder shall be due and
payable at settlement heleunder. All funds due at closing shall be paid in US Dollars
by wire transfer with funds received and credited to the account of Agent on
or befote the Settlement Date.
The settlement shall occur within thirty (30) days from the close ofthe Auction or
thirty (30) days from the date of final ratification ofthis Real Estate Contract of Sale,
whichever date is later. �Illis shall be referred to as the "Settlement Date".
The Settlement Date hereunder shall be on or before
All closing costs shall be paid by Buyer. Closing costs shall include but not be limited to
settlement fees, title search fees, conveyancing fees, title insurance premiums, tax status
reports or certificate fees, all transfer and recorxlation taxes and recording fees, and any other
costs or fees associated with the transfer of title to Buyer.
4.
6.
7.
8.
9.
All pmperty taxes, water and Sewer charges and rents shall be pro-rated between Buyer and
Seller as of the date of closing.
Ille property is sold in "AS IS, WHERE IS" condition. Seller makes no representations or
warranties as to the condition Of the premises Or any systems thereon. Buyer accepts the
property "AS IS" at the time of settlement.
Settlement shall take place at the office of the Escrow Agent. The Escrow Agent is
Name:
Phone:
Email:
litle to the property is to be good of record, merchantable and insurable, subject, however, to
covenants, rights of way, easements, conditions and restrictions of record.
Seller agrees to execute and deliver a good and sufficient special warranty deed or if an estate,
a Personal Representative's deed . Purchaser agrees to have the deed of conveyance recorded
promptly.
This Contract is not contingent upon financing, inspections, removal oftenants, or any other
condition or matter the property may be subject to. Time is of the essence with regard to all
dates herein.
IO. In the event that Buyer fails to comply with the terms of sale under this Contract ofSale,
Buyer shall be in breach of contract. The Deposit shall be forfeited to Seller. Escrow Agent
is authorized to release said deposit to Seller upon demand of Seller. Seller may also 'V-sell
the property at the risk and expense of Buyer who shall be responsible for payment of all
costs associated with the le-sale of the Property, including but not limited to attorney's fees,
court costs, advertising expenses and any loss that results from a lower high bid price at the
re-sale. The Deposit shall be liquidated damages and not used to offset any expenses or
liability of Buyer in the event ofa re-sale.
11. In the event that Seller fails to go to settlement hereunder, the Deposit shall be retumed to
Buyer and Buyer shall have no other remedies for Seller's breach.
12. This Contract of Sale is not transferable or assignable by either party.
13. The Auctioneer, its employees and agents make no representations or warranties as to the
condition of the Property or any systems thereon and bear no liability or responsibility for the
condition or the Property or for the perfonnance of any party to this Contract of Sale.
14. Ihis Contract of Sale shall survive closing.
15. Iliis Contract of Sale shall be binding on the parties hereto, their heirs, personal
representatives, successors and assigns.
16. This Contract of Sale shall be construed under the laws of the State of Maryland.
WITNESS OUR HANDS AND SEALS.
Date:
Date:
SELLER:
_(SEAL)
(SEAL)
BUYER:
(SEAL)
(SEAL)
ESCROW AGREEMENT
PURSUANT TO SECr10N 10-802 OF THE REAL PROPERTY ARTICLE, ANNOTATED
CODE OF MARYLAND, the parties hereto enter into this Escrow Agreement.
'Illis Agreement is made this day of
2026 by and between
hereinafter refened to as "Seller',
hereinafter referted to as "Buyer" and
hereinafter referred to as "Escrow Agent".
This Escrow Agreement relates to the Contract of Sale between Buyer and Seller for all that
real property with improvements known as
dated
(hereinafter referred to as "Contract of Sale").
2.
4.
6.
Escrow Agent acknowledges receipt of the Deposit in the amount of
Dollars (S
. Escrow Agent shall, within seven (7) business days of Date of Deposit Receipt place the
Deposit in Escrow Agent's Trust Account. Escrow Agent may not use the Deposit for any
purpose other than that for which it is entrusted to Escrow Agent. Neither Buyer nor Seller
shall receive inte�st on the Deposit.
If the Deposit cheek is returned for insufficient funds or a wile is dishonoled, Escrow Agent
shall notify Buyer and Seller in writing within five (5) business days from receipt of notice
from the financial institution where the Deposit was placed.
Escmw Agent ag�es to maintain the Deposit in Escmw Agent's Trust account until:
b.
c.
The Jeal estate transaction settles in which case the Deposit shall be applied to the
Pulehase Price at settlement. If Escrow Agent is not conducting the settlement,
Escrow Agent shall timely deliver thc Deposit to settlement agent.
Escmw Agent receives proper written instructions executed by both Buyer and Seller
directing withdrawal or other disposition of the Deposit. 'Ihis written instruction may
be in the Contract of Sale executed by the parties OR
Fscrow Agent files an action for Intetpleadcr and delivers the Deposit to a court Of
competent jurisdiction in the State of Maryland.
In the event that there is a dispute regarding disbursement of the Deposit, Buyer and Seller
agree as follows:
b.
to submit to mediation if the Contract of Sale requires the pallies to submit to
mediation. Escrow Agent agrees to accept and abide by the terms of any mediation
agreement reached by the Buyer and Seller.
Escrow Agent may, at its option, hold disputed funds until a Release of Deposit is
signed by Buyer and Seller.
In the event of any litigation or dispute between Buyer and Seller concerning the
release of the Deposit, Escrow Agent's sole responsibility may be met, at Escrow
Agent's option, by paying the Deposit into the court in which such litigation is
pending or by paying the Deposit into a court of proper jurisdiction by an action for
interpleader. Buyer and Seller agree that, upon F�scrow Agent's payment of the
Deposit into the court, neither Buyer nor Seller shall have any further right, claim,
demand or action against Escrow Agent regarding the release of the Deposit and
Buyer and Seller, jointly and severally, shall indemnify and hold Escmw Agent
harmless from any and all such rights, claims, demands or actions. In the event of
such dispute and election by Escrow Agent to file an action or interpleader as herein
provided, Buyer and Seller further agree and hereby expressly and irrevocably
authorize Escrow Agent to deduct from the deposit all costs incurred by Escrow
Agent in the filing and maintenance of such action, including but not limited to, filing
fees, court costs, service of pmcess fees and attorneys' fees provided that the amount
deducted shall not exceed the lesser ofOne Thousand Dollars ($1000.00) or the
amount of the Deposit held by the Escrow Agent. All such fees and costs authorized
helein to be deducted may be deducted by Escrow Agent flom the Deposit prior to
paying the balance of the Deposit to the court. Buyer and Seller further agree and
expressly declare that all such fees and costs so deducted shall be the exclusive
property of Escrow Agent. Ifthe amount deducted by Escrow Agent is less than the
total of all the costs ineurled by Escrow Agent in filing and maintaining the
interpleader, then Buyer and Seller, jointly and severally, agree to reimburse Fserow
Agent for all such excess costs upon the conclusion of the action.
In the event that Buyer or Seller fails to complete the teal estate transaction in accordance
with the terms and conditions of the Contract of Sale, and either Buyer or Seller is unable or
unwilling to execute a Release of Deposit, Buyer and Seller hereby acknowledge and agree
that Escrow Agent may distribute the Deposit in accordance with thc following procedures:
b.
d.
Prior to distributing the Deposit under this section, Escrow Agent shall notify both
Buyer and Seller that Escrow Agent intends to distribute the Deposit to the person
who, in the good faith opinion of Escrow Agent is entitled to receive the deposit in
accordance with thc terms of thc Contract of Sale.
The notice shall be in writing, and state whether the Deposit will be paid to Buyer or
Seller and disclose to Buyer and Seller that either pally may plevent distribution of
the Deposit under this section by submitting a protest within thirty (30 ) days from
the date of the notice was mailed or delive1Vd by Escrow Agent and if neither party
submits a protest within thirty (30) days from the date the notice was mailed or
delivered by Escrow Agent, the Deposit will be distributed in acconlance with
Escrow Agent's notice.
The notice shall be hand-delivered to both Buyer and Seller or sent by cenified mail,
return receipt requested and lwgular mail to both Buyer and Seller.
Buyer or Seller may protest the distribution of the Deposit. Buyer or Seller shall
submit the protest to Escrow Agent within thiily (30) days from the date the notice
required in this section was delivered or mailed by Escrow Agent,
A protest shall be in writing and either hand delivered or Sent by certified mail, return
receipt requested and regular mail.
If a written protest is received by Escrow Agent, Escrow Agent shall distribute the
Deposit in accoJdance with Section 6 (a), (b) or (c) Of this Escrow Agreement.
In any action or proceeding between Buyer and Seller and/or between Buyer and Escrow
Agent and/or between Seller and Escrow Agent resulting in Escrow Agent being made a Pany
to such action or proceeding, including, but not limed to, any litigation, arbiuation, or
complaint and claim before a Maryland regulatory board, whether as defendant, cross-
defendant, third-party defendant or respondent, Buyer and Seller, jointly and severally agree
to indemnify and hold Escrow Agent harmless from and against any and all liability, loss,
cost, damages or expenses (including filing fees, court costs, service of process fees,
9.
transcript fees and attorneys' fees) incurred by Escrow Agent in such action or proceeding
provided that such action or proceeding does not lesult in a judgment against Escrow Agent.
"Illis Section shall apply to any and all such action(s) or proceeding(s) against Escrow Agent,
including those action(s) or proceeding(s) based, in whole Or in part, upon any alleged act(s)
or omission(s) by Escrow Agent, including, but not limited to, any alleged act of
misl�presentation, fnud, non-disclosure, negligence, violation of any statutory or common
law duty, or breach of fiduciary duty by Escrow Agent. The provisions of this Section shall
survive settlement and shall not be deemed to have been extinguished by merger with the
deed. The term Escrow Agent as used in this section shall include any agent, subagent,
salesperson, independent contractor and/or employee of Escrow Agent.
filis Fscrow Agreement constitutes the entire agreement among the parties and neither they
nor their experts shall be bound by any terms, conditions, statements, warranties Or
tepresentations, oral or written, not herein contained. The parties to this Escmw Agreement
mutually agree that it is binding upon them, their heirs, executors, administrators, personal
representatives and successors. Once signed, the terms of this Escrow Agreement can only be
changed by a document executed by all parties. the extent that the terms of this Escrow
Agreement and the terms of the Contract of Sale are different, inconsistent or contradict each
other, this Escrow Agreement shall control. This Escrow Agwement shall be interpreted and
construed in accordance with the laws of the state of Maryland.

ONLINE REAL ESTATE AUCTION Associated Auctioneers & Appraisers Ending Saturday, August 28th, 2026; 11:00am 21948 Main Street Hillsboro, MD 21641 Real Estate- Single Family Home, 3 bedroom, 2 bath, 1904sqft. Built in 1910, on 0.33-acre lot. Well & Septic. Great view of the Tuckahoe river, with walking distance to boat ramp. Property is sold as is where is. All bidders must be qualified to bid, bid packet will be available to download online. Inspection days to be listed. Associated Auctioneers & Appraisers t/a Gregory & Associates Auctions www.gregorysauctions.com 410-489-7200 Real Estate 10% buyer's premium $10,000 deposit due from winning bidder immediately upon closing of auction. Please carefully review the bidder's contract before placing bids.