TERMS & CONDITIONS FOR REAL ESTATE AUCTIONS TERMS MAY VARY ON EACH PROPERTY • Properties sold at auction are sold “As Is”, “Where Is” with no warranties expressed or implied. Properties are sold to the highest bidder with no Buyer contingencies allowed. Seller may or may not have the right to reject the high bid amount. It will be noted if the property is selling with or without reserve before the auction takes place. • High bidder is required by seller to put 5% of the purchase price, as earnest money, with a minimum of $5,000.00, down at the time of sale, with the balance being due within 30 days at closing. The earnest money amount is NON-REFUNDABLE unless the property fails to close due to fault of the seller. Earnest money may be paid by cash, personal check with proper ID or cashier’s check. Checks will be made out to Greg Norris Trust Account. • All buyer inspections are to be done prior to the auction. They may be done at the public open house times or by appointment. Neither Greg Norris Real Estate nor Red Barn Auctions inspects the property on the buyer’s behalf. Read the contract and Sale Day Notes to determine the existence of any disclosures, exclusions, representations, or disclaimers. Do not bid if you have not inspected the property. By bidding, you agree to all disclosures and auction terms and conditions. DO NOT BID if you have not registered 48 hours prior to the auction, received a Bidder’s Card and Sale Day notes and have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming the high bidder. • Seller does not provide survey of any kind to buyer. Buyer may procure a survey or mortgage inspection certificate at their own expense. Other related buyer costs include but are not limited to; 6% Buyers Premium, (all approximated) Closing company fee $350, Title opinion fee $450, Title insurance fee TBD, Final abstracting $250, Filing deed $15, Federal & state name checks $75 plus any other fees to buyer required to close the sale. Any costs incurred by the Buyer to obtain financing are the sole responsibility of the Buyer. • Square footage data is provided by the County Courthouse or appraiser and are considered an estimate. • Upon closing, Buyer receives a deed and insurable title to each property as evidenced by the Title Insurance offered by the Closing Company. • ANY ANNOUNCEMENTS DAY OF SALE SUPERSEDE WRITTEN TERMS • For further information or questions, contact Greg Norris at 918-758-9999.