Auction Terms & Conditions 1. This is an online only auction. This property will be sold with a reserve.
2. There is a 10% buyer's premium. 10% or $2000, whichever is greater, will be added to your high bid to arrive at the contract price. KEEP THIS IN MIND WHILE YOU'RE BIDDING. Example: High bid $100,000.00 X 10% = $10,000.00. $100,000.00 + $10,000.00 = $110,000.00 is the contract price.
3. There will be a 10% deposit required. Immediately following the bidding, the successful bidder will execute a contract for the purchase of the property and will be required to place a non-refundable deposit of TEN PERCENT (10%) of the TOTAL CONTRACT PRICE with the escrow agent. Cashier's Checks, Business Checks and Personal checks are accepted. The contract is NOT assignable, NOT contingent upon financing, NOT contingent upon inspections.
4. The balance of the purchase price is due at closing within 30 days. Each purchaser is responsible for obtaining his/her own financing if necessary. You must be pre-approved for financing. If you are unsure of your ability to obtain the necessary financing, do not bid as you could lose your earnest deposit if you don't close.
5. A seller's disclosure of condition of the property has been provided in the materials here today. The property is being sold "as is" and "where is" with all faults, if any. No warranty as to condition or suitability for any purpose is expressed or implied. Buyers shall rely entirely on their own information, judgment and inspection of the property and records prior to the auction. Bidding signifies agreement to all disclosures.
6. The Seller will furnish an Owner's Policy of Title Insurance in the amount of the purchase price. Title insurance police expense will be paid by the Seller. Buyer will pay all other closing costs associated with this transaction.
7. All adjustments of current year taxes or other pro-ratable items on this property shall be prorated as of the date of closing.
8. Possession of the property shall be given to the Buyer upon successful closing and funding of said sale.
9. Sellers are not required to provide a survey of the property. If the buyer desires a survey, it shall be at the buyer's sole expense.
10. United Country H5 Auction & Realty and its agents, auctioneers, brokers and representatives are Exclusive Agents of the Seller.
11. Any properly licensed broker which registers and represents a successful buyer at the auction shall be entitled to a Two Percent (2%) Buyer's Broker fee, based on the total contract price. The Buyer must not already be working with or have been contacted by the auction company either personally or by electronic means or by direct mail marketing.
12. Bidding signifies you have read and are in agreement with terms and conditions of the today's contract. If you do not agree, do not bid!!
13. Disclaimers: All information is taken from sources believed to be reliable, but is subject to verification by all parties relying on it. Any and all drawings, sketches, dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. All bidders are responsible for conducting their own inspection, inquiries and due diligence concerning the property being offered and are encouraged to satisfy themselves prior to placing any bids at the auction. The property is being offered "AS IS, WHERE IS" and no warranties or representations either expressed or implied are being made by the seller(s) or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase sale agreement. All dollar amounts stated in the terms and conditions or otherwise shall be in U.S. currency, only. Any announcements made the day of auction shall take precedence over any previously printed material or any other oral statements made.
14. If you wish to be a back-up bidder, please contact H5 Auction & Realty (903-686-0636) after the auction and we will put you on the list in the event the high bidder does not close. We will contact you and invite you to purchase the property. There is no obligation to purchase and no signature is required. This is a matter of reference only.
15. Neither Auctioneer nor Seller shall be liable for any personal injury on the sale premises. Buyer assumes all risk and liability whatsoever resulting from the use of the item(s) sold hereunder, and shall defend, indemnify, and save harmless Seller and Auctioneer from any liability.
16. Any unresolved complaint with H5 Auction & Realty should be directed to : Texas Department of Licensing and Regulations; P. O. Box 12157; Austin, TX 78711; 512-4636511, www.tdlr.texas.gov.
Seller User Terms
Bidder User Terms