ONLINE AUCTION TERMS AND CONDITIONS
This property is offered under the specific terms provided in Offer to Purchase. Please read and review the contract thoroughly prior to bidding on any property. The Offer To Purchase includes this Addendum-- Online Auction Terms and Conditions. If you have not read and reviewed these documents- Do Not Bid.
Terms: 10% nonrefundable earnest money in the form of a certified check, cash or wire transfer within 24 hour of the close of auction, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. Closing will be within 30 days. There will be a buyer's fee of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% buyer's Fee) equals purchase price of $110,000. This online only auction is a cash sale not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Offer to Purchase.
Auction End Times: Sterling Auction & Realty Services, LLC Online Only Auctions are timed events and all bidding will close at specified time. Sterling Auction & Realty Services, LLC Online Only Auctions also have an auto extend feature. Any bid placed in the final 2 minutes of an auction, the auction ending will be automatically extended 2 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 6:01.The auto extend feature remains active until no further bids are received within a 2 minute time frame.
Stop the Auction Provision: At any time prior to the last 24 hours before the auction, a registered bidder may stop the auction and buy the property immediately. To do this, they must 1) be the first person to bid $180,000 as a max bid; 2) contact Sterling Auction Services to verify, 3) submit a signed offer to purchase, and 4) deposit certified funds in the amount of 10% of purchase price. This all must be done at least 24 hours before the auction close 2 PM the following day (10/13/15).
Acceptance of Bid Prices: Property will sell to highest bid equal to or greater than $149,500. In the event someone exercises the Stop the Auction Now Provision at least 24 hours ahead of the auction, all bidders will be notified that the auction has concluded. If the auction has not stopped, Sterling Auction & Realty Services, LLC will e-mail purchase documents to buyer and buyer must fax or e-mail back to Sterling Auction & Realty Services, LLC within 24 hours of the end of the auction. Buyer(s) will also sign an Agency disclosure as well as a property condition report which all buyers will waive the right for an inspection post sale. Successful bidders not executing and returning contracts with earnest money deposit within 24 hours will be considered in default and face court proceedings. Any and all inspections that a buyer may want must be done at buyer's expense prior to auction.
Agency: Sterling Auction & Realty Services LLC represents and reserves the right to protect the interest of the seller.
Evidence of Title: Seller shall provide an owner's title insurance policy in the amount of the purchase price
Deed: Seller shall provide a Warranty Deed.
Possession: Possession at closing. No Exceptions.
Real Estate Taxes: All taxes will be prorated to day of closing using previous year's tax amount and re-prorated within 30 days of actual tax bill.
Easements: Subject to any and all easement of record.
Zoning: This property is subject to all state and local zoning ordinances.
Acreage: Parcel dimensions and acreages are based on legal descriptions & certified survey.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Sterling Auction & Realty Services, LLC will reject the registration, and bidding activity will be terminated. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
Agency: Sterling Auction & Realty Services, LLC and its representatives are agents of the Seller.
Buyer's Agency: All buyers are responsible to notify auctioneers of any potential buyer's agency contracts in place before registration and bidding on the auction and no later than 24 hours prior to auction close.
NEW DATA, CORRECTIONS, AND CHANGES: Please arrive on-line prior to scheduled auction close time to inspect any changes, corrections, or additions to the property information.
Disclaimer & Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions on this website are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained on this website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of the Auction Company are final. Any dispute between auctioneers and buyers will be dealt with through arbitration in Waupaca County, Wisconsin. By bidding on the property at auction, buyer agrees to all terms and conditions set forth as well as those set at beginning of the auction.
Each buyer is responsible to conduct their own due diligence on the property before bidding.