Addenda- ONLINE AUCTION TERMS AND CONDITIONS
Please read the terms carefully as they are a legal binding contract between you and Sterling
Auction & Realty Services, LLC. All disputes will be settled by arbitration in Waupaca County,
Wisconsin. 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 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 45 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. Any and
all inspections that a buyer may want must be done at buyer’s expense prior to auction.
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 5 minutes of an auction, the
auction ending will be automatically extended 5 minutes from the time the bid was placed. Example:
if an auction scheduled to close at 10:00 receives a bid at 9:59, the close time will automatically
extend 10:04. The auto extend feature remains active until no further bids are received within a 5
minute time frame.
Acceptance of Bid Prices: Property sells with owner confirmation of acceptable price. Bidders will
be notified within a short time following the sale as to their success. Successful bidder(s) will be
required to enter into a purchase agreement immediately following the close of the auction. Sterling
Auction & Realty Services, LLC will e-mail documents to be executed and buyer must fax or e-mail
back to Sterling Auction & Realty Services, LLC Auctioneers by 5 PM CST day of the auction.
Successful bidders not executing and returning contracts will be considered in default.
Evidence of Title: Seller shall provide an owner’s title insurance policy in the amount of the
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.
Easements: Subject to any and all easement of record.
Covenants: Subject to any covenants that might exist.
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 and
reserves the right to protect the interests 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
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.
Internet Disclaimer: Sterling Auction & Realty Services, LLC is not responsible for situations that
may prevent online bidding such as power failure, server problems, online bidding website problems,
or buyer inability to register right at auction time. We recommend registering several days in
advance and if you are worried about any possible problems that you submit your highest maximum
bid the evening before the auction.
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.