Auction Terms & Conditions
BIDDERS: All prospective buyers must be at least 18 years old and are required to register prior to bidding. Bidder(s) acknowledge they are representing themselves or have hired representation using their own financial means to complete the auction sales transaction. Bidding remotely does not guarantee anonymity. By placing a bid, the bidder acknowledges he/she has received, read, understands and agrees to be bound by the terms and conditions of the auction. Auctioneer reserves the right to periodically change the auction terms and conditions, which shall be effective immediately upon posting. It is the Bidder's responsibility to review any and all changes made to these terms and conditions prior to bidding on property. Bidding increments are at the sole discretion of the Auctioneer who may accept or reject any bid.
BIDDING ON THE ONLINE AUCTION: Once you are registered and have your user name & password, you may place bids as soon as a lot opens for bidding. Your bids are FINAL and constitute a binding contract. Please be aware if more than one lot is being auctioned, lots will close at various times as the live auction proceeds. You are responsible for monitoring these close times. Please register and bid early to avoid any last minute difficulties.
Bidders are responsible for security of his/her bidding number/user name and password, and any and all bids placed under the assigned number/ID. Auctioneer should be notified immediately if Bidder believes their number and/or password have been compromised. Bidder registration is not transferable or assignable.
INSPECTION AND GUARANTEE: Property is available for inspection during dates and times set by the auctioneer. All property is sold on an "As is - Where is" basis with no warranties or guarantees, expressed or implied, made by the Auctioneer or Seller. Midwest Land Management and Real Estate Inc. is providing brokerage services, is an agent for and is representing the Seller at this auction. Buyers have the right and responsibility to inspect, or to have a third party representative inspect for you, prior to bidding. Failure to inspect does not negate Bidder's responsibility to perform under the auction terms and conditions. The lot description information and photographs are reliable to the best of the auctioneer's knowledge, but they are not guaranteed. Auctioneer reserves the right to add, delete, or modify any item, lot, photograph or description in the auction until the close of the auction.
BIDS: The auction will use a maximum bidding system. This makes bidding more convenient and less time consuming. Your account will bid for you using the 'minimum bid increment' until it reaches your maximum bid. You don't have to bid again every time someone outbids you until the current winning bid is above your 'Max Bid'. For example: You place a bid on an auction item which has a current high bid of $1,000 by entering the maximum amount you're willing to pay for the item (New Max Bid = $2,000). Your account will place a bid of $1,200 on your behalf ($1,000 current winning bid + $200 minimum bid increment). If someone else bids $1,400. Your account will automatically bid $1,600 on your behalf. Your account will continue to bid for you (using the minimum bid increments) until you reach your 'New Max Bid = $2,000'. If the current winning bid is more than your 'Max Bid', your account will not bid again for you (i.e. If someone else bids $2,200). You can change your New Max Bid until the auction closes. The seller and other bidders cannot see your New Max Bid.
DAY OF AUCTION: Any announcements or changes to the terms and conditions made on auction day by the Auctioneer will take precedence over any previous printed material or oral statements. The Auctioneer may accept absentee, phone or internet bids from bidders who cannot attend the auction. Seller reserves righ to reject any and all bids. Auctioneer reserves the right to add or withdraw property from the auction. All decisions of the Auctioneer are final.
WINNING BID: Immediately upon conclusion of the auction, the buyer of the real estate will sign a purchase agreement and deliver a 10% of gross winning bid earnest deposit to Midwest Land Management and Real Estate Inc. office at 2506 11th Avenue SW, PO Box 909, Spencer, Iowa. A continued abstract will be delivered to buyer for title examination two weeks prior to closing date. Real estate taxes will be prorated to date specified on the sale bill. This sale is subject to all easements, covenants, leases, and restrictions of record.
PAYMENT: Cash, Cashier's Check, Personal/Business check or wire transfer. All fees incurred by wire transfers will be paid by the purchaser. All winning bids must be paid for in U.S. dollars. This sale is not contingent upon buyer financing; all bids are cash bids and all sales are final. Bidder agrees that there will be no refunds or adjustments for any reason (s).
DISPUTES: Buyer and or Bidder, whether acting as principal, agent, officer or director of a company, agrees to hold harmless and indemnify Midwest Land Management and its agents and representatives from any and all claims, damage or suits including but not limited to awards, judgements, costs, fees, etc.
TECHNICAL ISSUES: Bidder agrees that neither the auctioneer nor the seller are liable for any technical issues that may occur including hardware malfunctions, software malfunctions, viruses and similar issues that occur and are beyond their knowledge, scope and control. In the event there are technical difficulties related to the server, software or any other online auction related technologies, Midwest Land Management and Real Estate Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the servers, the software, the internet connections nor the auctioneer shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
BIDDING DIFFICULTIES: In case of bidding difficulties during the auction, please contact:
Ben Hollesen - 712-253-5779
Travis Johnson - 712-330-5345
Shane Brant - 712-301-4664
Zach Anderson - 712-298-1606
Seller User Terms
Bidder User Terms