GENERAL TERMS AND CONDITIONS OF SALE
Acceptance of Terms:
By registering for and participating in any auction hosted by Aromela LLC, all bidders expressly agree to be bound by these General Terms and Conditions of Sale, along with any additional terms outlined in individual auction listings. Submission of a bid signifies full acknowledgment and unconditional acceptance of all applicable terms.
Buyer’s Premium and Processing Fees:
The winning bidder ("Buyer") shall pay a non-refundable buyer’s premium equal to ten percent (10%) of the winning bid amount, plus a non-refundable processing fee of two percent (2%). These fees are in addition to the final bid price and are due via wire transfer from a U.S.-based bank or credit union within two (2) business days following the close of the auction. All fees must be paid in U.S. Dollars.
Broker Participation Invited:
Licensed real estate brokers (“Cooperating Brokers”) are encouraged to participate. Aromela LLC will pay a 2% commission of the final hammer price to any Cooperating Broker who registers a winning bidder, provided the buyer completes the transaction and the broker is legally eligible to receive such compensation. Brokers must register their clients according to auction requirements.
Property Conditions:
All properties are sold strictly “AS IS” and “WITH ALL FAULTS.” Aromela LLC makes no warranties or guarantees, either express or implied. Buyers are strongly encouraged to conduct all due diligence before placing bids.
Financing and Withdrawal:
All auctions are cash-only transactions and not contingent on financing, inspections, or appraisals. In the event a winning bidder seeks to rescind the agreement prior to closing, a withdrawal fee may apply. All properties are offered subject to a confidential reserve price to maintain fairness and competitiveness.
Title and Closing:
Properties are conveyed via Warranty Deed, subject to all recorded encumbrances. Buyers are responsible for all closing costs, including title insurance, escrow, transfer taxes, and recording fees. The remaining balance of the purchase price is due within the timeline specified in the Real Estate Sales Contract.
Rights of the Seller and Auctioneer:
Aromela LLC and the Seller reserve the right to postpone, cancel, withdraw, or modify the auction at their sole discretion. In the event of any inconsistencies between these Terms and the signed Real Estate Sales Contract, the contract shall prevail.
Contractual Obligations:
Bidders are responsible for verifying all information related to the property. No assignments of purchase contracts are permitted without written approval from the Seller. Failure to fulfill contract obligations will result in forfeiture of any deposits as liquidated damages.
Limitation of Liability:
Aromela LLC shall not be liable for any indirect, incidental, consequential, or punitive damages, whether foreseeable or not. All participation is at the bidder’s own risk. Aromela LLC’s liability, if any, is strictly limited to the amount of the buyer’s premium paid.
Entire Agreement:
These Terms and Conditions, along with any additional terms referenced or incorporated by agreement, represent the entire agreement between Aromela LLC and the bidder. No verbal agreements or representations shall modify these Terms unless made in writing and acknowledged by Aromela LLC.
Severability:
If any provision of these Terms is deemed unenforceable, the remaining provisions shall remain in full force and effect.
Bidder Registration and Responsibility:
All bidders must be at least 18 years old and legally competent. Registration requires accurate and complete personal information. Bidders are solely responsible for all activity conducted under their registered accounts.
Item Descriptions and Cataloguing:
All property descriptions are provided as a general guide. Aromela LLC makes no guarantees as to the accuracy of measurements, conditions, or specifications. Bidders are responsible for conducting their own inspections and confirming property details.
Auction Process and Bidding:
Auctions may utilize a soft close feature, whereby any bid placed within the final minutes of the auction extends the closing time. Bidders must follow published timelines and procedures for bid submission and payment.
Finality of Sale:
All sales are final. No refunds or cancellations are permitted. Full payment must be made before release of the property or title documentation.
Seller has a reserve and reserves the right not to sell.
Electronic Signature and Execution:
By participating in the auction, bidders consent to the use of electronic signatures for all contracts and documents. These signatures carry the same legal weight as physical signatures.
Legal Compliance and Dispute Resolution:
All auction participants must comply with local, state, and federal laws. In the event of disputes, Aromela LLC may require mediation or other lawful remedies as outlined in applicable jurisdiction.
Miscellaneous:
These Terms and Conditions are subject to change at any time at the sole discretion of the Auctioneer. The laws of the jurisdiction in which the auction is held shall govern the interpretation and enforcement of these Terms