Auction Terms & Conditions: 10% down required 24 hours after auction closes with the balance due at closing on or before 45 days after contract is signed. Property information believed to be accurate but not guaranteed. Buyer should independently verify all information prior to bidding. Seller will provide deed, title insurance and survey. Property is being sold AS-IS with no warranties or guarantees of any kind, expressed or implied. Seller reserves the right to accept or reject any and all bids.
1. Refresh Bidding: Refresh your screen constantly during the closing minutes of the bidding.
2. Agency: King Realty & Auction Co. Inc., are agents of the Seller.
3. Auction Ending: Online auctions are timed events and all bidding will close at a specified time. Auctions also have an auto-extend feature. Any bid placed in the final five (5) minutes of an auction, the auction ending will be automatically extended five (5) minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a five (5) minute time frame.
4. Outbid Notification: Until the auction begins to close, the bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed.
5. Property Information & Inspection: King Realty & Auction Co. Inc., is not responsible for any missing or incorrect listing information. King Realty & Auction Co. Inc. has attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder's intended use. Descriptions that are provided by King Realty & Auction Co. Inc., are provided in good faith and are matters of opinion.
6. Auctioneer's Discretion: King Realty & Auction Co. Inc., has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of King Realty & Auction Co. Inc., or the seller. King Realty & Auction Co. Inc., reserves the right to modify, change, or remove usernames at any time.
7. Server & Software Technical Issues: In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, King Realty & Auction Co. Inc., reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor King Realty & Auction Co. Inc., shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by King Realty & Auction Co. Inc.,
8. Terms: Real Estate - 10% down payment due upon signing of contract within 24 hours of sale ending. Balance due upon delivery of deed within 45 days from day of sale. Seller will provide survey and owner's title insurance. Personal Property - Cash or good check day of item pickup. Debit and credit cards only accepted through online auction website. Seller reserves the right to accept or reject any and all bids. Real Estate and Personal Property will be sold "AS-IS" without warranties of any kind. All information advertised is believed to be correct, but not guaranteed. Changes made by the Auction Company during the online auction supersede any printed material.
9. Contract For Sale Of Real Estate: The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed between within 24 hours after the auction closes. See Real Estate Auction Contract for terms and conditions.
10. Closing: Property is to be closed within 45 days after the auction.
11. Property Condition: Buyer specifically acknowledges herein that the property is being purchased 'AS IS' with all faults and that neither the Seller nor King Realty & Auction Co. Inc.,, makes any warranties or representations, expressed or implied, as to the habitability, condition, square footage, acreage or boundary lines of the real property conveyed herein. Seller is NOT responsible for any repairs.
12. Hold Harmless: Buyer and or Bidder agrees to hold harmless and indemnify King Realty & Auction Co. Inc., and its Agents, Owners, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
13. Disputes: Any dispute between King Realty & Auction Co. Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Lauderdale County, Alabama. By bidding on any item, buyer agrees to all terms and conditions set forth. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
14. Auction Cancellation - Bid Rejection: King Realty & Auction Co. Inc., reserves the right to reject any and all bids for any reason. King Realty & Auction Co. Inc., reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
15. Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, King Realty & Auction Co. Inc., will reject the registration, and bidding activity will be terminated. The Seller and King Realty & Auction Co. Inc., reserve the right to preclude any person from bidding.
16. Bidder Responsibilities: Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction. We gather aggregate information from the web site which may include but is not limited to: number of page visitors, most visited pages, and any and all correspondence.
17. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to King Realty & Auction Co. Inc.,