REAL ESTATE TERMS & CONDITIONS AUCTIONEER'S NOTE: Due to the Covid-19 Pandemic, we will be following the current CDC guidelines during the designated load out & preview times as follows: Mask are required. No more than 10 people allowed on the premises at a time and each attendee must stay at least 6 feet away from other attendees at all times. The Following Terms & Conditions Apply to The Online Real Estate Auction of 30+/- Acres Located at 1878 Petit Jean Mountain Rd. Morrilton, AR 72110. Conway County Parcel No. 001-10555-000 AND .87+/- Acres Located at 7919 N. Hwy 7 Jessieville, AR 71949. Garland County Parcel No. 100-03300-00C Bidder must read and accept all of the terms and conditions set forth below in order to bid. (SCROLL DOWN & READ ALL TERMS BEFORE PLACING ANY BIDS) Buyer’s Premium: A buyer’s premium of Ten percent (10%) of the high bid will be added to the bid to determine the final purchase price. Seller has the right to accept or reject any and all offers on real estate. Upon the Sellers acceptance of the highest bid, the successful purchaser will be required to make an earnest money down payment in the amount of 20% of the contract purchase price made Payable to Commerce Title Company. Title Agent: Brian Scott. Phone: 501-658-4381. 1901 Napa Valley Drive, Suite 10. Little Rock, AR 72212. Phone 501.588.3985. Cell 501.658.4381 Email-BTS@Commercetitlear.com. The balance is due in 30 days at closing. Purchaser will receive a Special Warranty Deed at closing. Additionally, Seller will provide the purchaser an Owners Title Insurance Policy at closing. Buyer & Seller will each pay their respective portion of the closing cost & taxes will be prorated to the date of closing. Auctioneers Disclosure: Auction company will not be responsible for the removal of abandoned or unsold personal property after the designated time of removal. All abandoned or unsold personal property that has not been removed during the designated time of removal will go with the real estate. Wooley Auctioneers requires a credit card for bidder verification purposes only. We will never charge your credit card for real estate transactions. Wooley Auctioneers will contact the winning bidder by phone at the conclusion of the auction with detailed payment instructions. (See payment instructions below) Buyer’s Commitment: Your bids placed on the Wooley Auctioneers website/bidding platform are a FIRM COMMITMENT TO BUY and you are responsible for paying all amounts due. Currency Type: USD Auction Location: Internet Online Only Payment Instructions: Winning bidder will be required to put 20% of the contract purchase price immediately following the auction. The balance will be due in 30 days at closing. Buyer & Seller will each pay their respective portion of the closing cost & taxes will be prorated to the date of closing. Additional Terms of Sale: Your bid is a FIRM COMMITMENT TO BUY should you be the winning bidder. All property is sold “AS IS”. By bidding on property, the bidder shows acceptance of the terms of the auction All announcements made prior to the close of the Internet bidding take precedence over all written or verbal statements. Wooley Auctioneers attempts to describe the property to the best of our abilities however we make no representations or guarantees. In no event shall Wooley Auctioneers, Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a purpose. Nor shall we be responsible for any errors or omissions in the description of the property. Wooley Auctioneers, Inc. is providing an Internet auction as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall bidder have any kind of claim against Auction Company or anyone else if the Internet service fails to work correctly during the online auction. Auction Company will not be responsible for any missed bids from any source. Auction Company reserves the right to withdraw or re-catalog items in this auction. EXPLANATION SOFT CLOSE: if an item receives a bid within the last 5 minutes, then the close time will be extended 5 minutes from the time the bid is placed. The time will continue to be extended for 5 minutes with each newly placed bid and the item will not close until 5 minutes has elapsed with no additional bid activity. This does eliminate “snipers” from our Internet Auctions. Please be assured that we have taken every precaution to set the site up in a transparent manner that allows for the fairest environment for both buyers and sellers