Auction Terms & Conditions PROPERTY INFORMATION PACKAGE
To provide terms and conditions specific to the property listed in addition to the general terms and conditions that can be found by clicking the terms link on this page. Both specific general terms and conditions shall govern the conduct of the sale.
The general terms and conditions are published and may remain constant for each sale.
The specific terms and conditions may signify certain attributes that are conditional to the property described below.
SALE TYPE - AGENCY
Seller has initiated the liberty of bidding and property shall be sold subject to seller’s confirmation. Brokers and Auctioneers represent the seller and shall not represent the buyer.
INFORMATION ABOUT BROKERAGE SERVICES
TEXAS REAL ESTATE COMMISSION CONSUMER PROTECTION NOTICE
LEGAL DESCRIPTION: 170 +/- Acres, Lamar County, Texas
Property ID: 81327 - A560 A MC LENNAN SURVEY, TRACT 41, ACRES 22.5
Property ID: 91386 - A111 E M BENNET SURVEY, TRACT 4 ACRES 129
Proposed Purchase Combination
T1 CoRd 25630, Petty, TX 75421 Parcel ID: 91386
T2 CoRd 25630, Petty, TX 75421 Parcel ID: 91386
T3 CoRd 25630, Petty, TX 75421 Parcel ID: 91386 & 81327
T4 CoRd 25630, Petty, TX 75421 Parcel ID: 91386
T6 CoRd 25630, Petty, TX 75421 Parcel ID: 91386
T8 CoRd 25630, Petty, TX 75421 Parcel ID: 91386 & 81327
SPECIFIC TERMS and CONDITIONS
Terms and Conditions of the sale may change and shall be an addendum to General Terms and Conditions. Certain requirements may vary from sale to sale. Such changes shall be considered specific terms of the sale. Specific terms and conditions may include, however not limited to the amount of Option Money Required, Escrow Deposits, Time to Close, Auctioneer Fees, Real Estate Brokerage Requirements. Other terms that apply to the property being offered. Such terms may change without individual notice. It is incumbent on the purchaser to read all terms and conditions prior to bidding or making an offer.
ORDER OF SALE
The Broker – Auctioneer shall determine the order of sale and shall retain the right to schedule, reschedule or determine the platform and how the sale will be processed.
Property may be offered as single property. Property may be divided into separate parcels.
The method that produces the best offer to the seller will determine how this property sells. Property is subject to Sellers approval. Sellers have initiated the liberty of bidding and may make adjustments accordingly. Seller has authorized to refuse bidding privileges to persons that do not qualify or to those that will not comply with bidding procedures.
PROCESSING of BIDS (OFFERS)
Broker – Auctioneer under the direction of the seller may process bids (offers) submitted with proper qualifications that satisfy the sales process. Additional information may be found under the Bid Administration tab. Bids (Offers) may be subject to additional payments or fees such as auctioneers fee, buyer premiums, closing costs.
An opening bid is required to initiate purchase rights. Bids (offers) may be lower than the suggested opening bid, however may not warrant suitable or acceptable requirements of the seller. All being subject to Multiple Offer Management. Opening bids or subsequent bids remain conditional.
PURCHASE AND SALE AGREEMENT (CONTRACT SAMPLE)
Will be available for review prior to bidding upon request. Purchaser will be required to execute and return immediately after the bid award along with required payments.
Taxes currently due shall be prorated on the day of closing. Estimate Annual Taxes $________________
Purchasers may conduct Final Inspections Wednesday, August 4, 2021, 10:00 AM, prior to sale date. Special requests considered. Text (469) 460-4848.
Actual day the purchase and sale agreements or other contract documents are executed to confirm the sale bids are due no later than Wednesday, August 4, 2021, 11:00 AM. Subject to change at seller direction. Property may be sold prior to bid date without notice or announcement.
Purchasers are to inspect the property at their own expense. Escrow deposits in addition to closing costs, buyer’s premium shall be the purchaser’s responsibility. This transaction shall be non-contingent on financing.
A duly qualified broker may be paid up to 3 % commission based on the purchase amount at bid award with proper registration subject procuring cause rights.
The Auction fee is the Buyer’s premium as explaining in the next paragraph. The Auction fee is non-refundable and becomes property of the Auctioneer and shall be made readily available for immediate use.
TERMS OF REAL ESTATE
The successful Purchaser(s) shall sign and return a real estate sales contract immediately after closing of bids or fully accepted offer, transfer by wire or certified funds, immediately after acceptance of offer. A 10% Buyer’s Premium in addition to the bid price then payable to Myers Jackson – Licensed Broker 0698695, Texas Auctioneer 17057 immediately after confirmation and acceptance of offer. * All calculations are per contract.
Purchaser(s) proof of payment will be certified by the Purchaser at closing. Certified funds will be required to bid in the amount of $__________ plus any balance of required earnest deposits and buyer’s premium to be tendered on the day of execution of contract with bank letter of guarantee submitted.
Seller will warrant transfer of title. Purchaser(s) may purchase title insurance at purchaser’s expense at the time of closing. Subject to exceptions, and Specific and all General Terms and Conditions.
The Buyer may or may not propose an option period to purchase this property. Option money shall be paid at direction of the Seller. Extended option periods may increase the actual amount of option money paid. No option money is paid if option period is not requested.
Money will be held at CAPITAL TITLE OF TEXAS, 1105 GLADE RD. STE. 200, COLLEYVILLE, TX 76034, Izzy Lane, Escrow Officer at (817) 916-8930. Earnest Money will be applied toward the purchase of property subject to Independent Consideration. Auctioneers fee or option shall belong to the Auctioneer and or Seller at the time of contract certifications. Appropriation of all funds shall be reflected on the closing document.
Time is of the essence this transaction shall close on or before Friday, September 3, 2021. Purchasers shall be required to sign a purchase and sale agreement immediately after bid award. Certified funds for all required deposits, escrow deposits, option money, auction fees, other considerations and/or any balance due at closing shall be required.
Purchasers may conduct an independent appraisal prior to bid award. Purchase is non contingent on appraisal or other third-party valuations.
Additional disclosures may be available up request at MyersJackson.com and MyersJackson.bid
The information shall be deemed true and correct; however, the purchaser shall be responsible for independent verification prior to bidding at purchaser’s expense.
Subject Property: Compatible with the Neighborhood
Energy Source: Electric
Dimensions: Regular Conforming
Proximity: Average for Schools, Commerce, Employment
USE Zoning: Agriculture/Residential, Lamar County, Petty, TX
Location: Lamar County, North Texas
Upgrades: Not Applicable
Physical Deficiencies: None Observed
Environment Impact: No Negative Impact Known
Neighborhood Boundaries: Lamar County
Market Conditions: Favorable
Overall Condition of the Property: Any observation shall not be meant to be any warranty of condition; no guarantee shall be made to the accuracy of the noted element. Property shall transfer by deed of record and any claims attached unless otherwise announced. Subject to Zoning, Planning, any government regulation as recorded at time of purchase.
Each person participating in the sale or any person that wishes to attend an open house must register in advance of entry into the property all being subject to seller requirements of preferential invitation. Seller and Auctioneer will comply with all fair housing regulations; however, entry may be restricted based on the following: Registration may be subject to additional requirements. However, Broker Auctioneers may increase, reduce, alter, amend requirements on a case by case basis.
Registration in writing, Myers Jackson Bidding Platform or other approved method.
Proper Statement of Funding and/or Proof of funds that show capabilities to purchase.
Agree to Conditions of Sale in advance of entering property: home or grounds.
Enter Factual Buyer information at https://acre.bid
HOW TO REGISTER AND BID ON-LINE
Logon to: https://acre.bid
Read, accept term and conditions
Enter factual buyers’ information
Make the highest possible bid
Follow, check for additional bids
If awarded the bid, prepare to sign contract
Understand on-line bidding may be combined with live auctions
Information About Brokerage Services
Texas Real Estate Commission Consumer Protection Notice
To Contact the Texas Department of Licensing and Regulation
Myers Jackson Auctioneer, Real Estate Auctions, Land Auctions, Online Auctions, Myers Jackson, Auctioneer, Real Estate Broker, Texas Real Estate Agent, Discovery Auctioneer, DIY Auctioneer on "Texas Flip and Move" . I enjoy photography, travel and meeting new people. I help others sell their property including real estate, personal and business property. While I am working for these fine folks I get out my camera and start taking it all in one frame at a time. Additionally, "Myers Jackson" is licensed as a Real Estate Broker: AL, FL, GA, MS, NY, OK, NM, KY, TN, PA, KS. Myers Jackson Licensed Texas Real Estate Broker. Myers Jackson Licensed Auctioneer: Florida AB3428-AU2726, Georgia AU003046, Mississippi, 1302-1303F, Louisiana AU1805, South Carolina AU4313, Ohio 2012000042, Indiana 11200062, Pennsylvania AU5771, Virginia AU004173, Texas AU17057, Kentucky RP3306, Tennessee AU6671, North Carolina 9339-9331. Auctioneer License Disclosures may be found on Individual pages within the website MyersJackson.com
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