Questions: All questions should be directed to Doug Brown, Principal Broker - Auctioneer. Brown & Kennedy Construction Co. Inc dba Brown Realty & Auctions. Office 910-298-4464 or (Mobile) Doug Brown Broker/Auctioneer 910-289-0523 Open for Inspection by appointment only Registration: Registration is free but does require several important pieces of information. Bidders must be registered with a full name, address, and telephone number. An email address is also required so bidders may be sent bid notifications. Information from a Credit Card must be entered and verified - this information is obtained to deter defunct bidding. Registration may only be completed with an acknowledgement that the bidder has read and understood all terms and conditions for the sale and bidding. READ ALL TERMS & CONDITIONS Buyer’s Premium: A 13% buyer’s premium for credit card with 3% discount for cash or business check will be added to the winning bid to determine the final contract selling price. For example, if the closing bid is $25,000, the 10% Buyer’s Premium would be $2,500 resulting in a final contract selling price of $27,500.00 or if credit card and the closing bid is $25,000, the 13% Buyer’s Premium would be $3,250 resulting in a final contract selling price of $28,250.00. Bidding: Notification of the winning bid will be made immediately at the auction's close. Online bids can be made using two methods: “Your Bid” and “Your Maximum Bid.” “Your Bid:” This feature allows the bidder to phone in a single bid as in a live auction. “Your Maximum:” This feature does your bidding without the bidder having to constantly be on the phone and biding each time someone raises there bid. Setting a maximum phone bid is much like coming to a live auction with a preset spending limit in mind. A designated real estate agent that is working the floor will bid for you, in the prescribed increments, and only up to your spending limit for the item. For example: the current bid is $10,000 with Bidder A having the winning bid. Bidder B wants to place a bid and is willing to bid as much as $500 or could be as little as $100. If Bidder B places a maximum bid of $22,000 the bid rises only to $10,100. Bidder A at the property places bid of $10,200. You will bid in at $10,300.00, A-$10,400, B-$10,500, A-$10,600, B-$10,700, A-$10,800, B$10,900, A-$11,000, B-$11,100. The bidding stops at $11,100 with Bidder B winning because the next bid would be $11,200, which is more than Bidder A wants to bid. Maximum bid amounts are kept confidential. Phone bids are bid in increments of accordingly. Close of bidding: Will be when all bidding is complete on site. Contract Execution: Following the auction, the successful online bidder or phone bidder’s credit card will be charged for 10% of the bid plus 10% buyer’s premium plus 3% for credit card expense. An offer to purchase agreement will be emailed for electronic signatures to be signed and acknowledged no later than 4:00pm EST July 08, 2017. A copy of this required purchase agreement is available for review online on the bidding page. The purchase agreement cannot be changed or altered in any way. Down Payment: The buyer shall make a non-refundable down payment of 10% of the contract amount to Brown & Kennedy Construction Co. Inc dba Brown Realty & Auction Escrow. Closing: Closing must be on or before August 8, 2017, at which time the Buyer shall pay the balance of the purchase price. Buyer and Seller shall pay their respective closing costs as is common and customary to Duplin County, North Carolina. Closing Attorney will be Hunter & Price, P.A., PO Box 277, 211 S Main St., Kenansville, NC 28349 Office phone (888)721-2338 or 910-862-1370 at sellers request but may be negotiated. Disclaimer: Any and all documentation provided in preparation for this auction has been obtained and forwarded in good faith to potential bidders for their convenience and information only. Such information is not warranted and as such the Auctioneer and Broker shall not be held liable for inaccuracies in the information. Potential buyers are encouraged to obtain or verify, before the close of bidding, any information they consider critical to their decision to purchase. Phone bidding is offered as a courtesy. The Auctioneer, Broker, Agent, Brown & Thigpen Auctions as auctioneer and Seller do not guarantee or warrant the phone bidding procedure and/or system to operate without interruption or malfunction. Online bidding is to be understood as a binding contract. Bids will be taken with the understanding that the bidder will honor their winning bid with sufficient funds in the specified time frame. Notification of the winning bid will be made immediately at the auction's close. Taxes: All real estate taxes due and payable in the calendar/fiscal year of closing shall be prorated between Buyer and Seller as of the date of closing as is common and customary to Duplin County. "As-Is” Condition: Property is being sold and purchased in “as-is” condition, “with-all-faults”, with no guarantees or warranties of any kind as to condition, fitness, use, or future use of the property and with all defects, apparent, non-apparent and latent. BUYER hereby acknowledges that they have had the opportunity to inspect and research all aspects of the property to their complete and full satisfaction prior to bidding. All information provided in advertising and otherwise is believed correct, but is not guaranteed. Potential buyers are welcome to have any inspections they desire prior to the auction. The sale will not be contingent upon any inspection, either prior to or after signing of the Auction Purchase Agreement. ANY AND ALL INSPECTIONS MUST OCCUR BEFORE YOU BID. Real Estate Information Documents: See the individual item description on our web page for links to real estate information documents. Broker Participation: A broker or agent whose client is the buyer of the real estate may be entitled to a 2% broker co-op fee as determined under guidelines of the Cafe Fear Multiple Listing Service and has access to the NC Regional MLS can schedule a showing via ShowingTime. If co-op broker is not a member of Cape Fear Multiple Listing Service a co-op agreement form must be presented to listing broker in advance of prospective purchaser bidding on the property. Penalties: Any bids found to be fraudulent will result in all appropriate legal action and the backup bidder given the opportunity to buy the property at their last bid. Announcements day of sale take precedence over printed material. NCAL FIRM #7363