Lot # : 1 - Ocean Front 5206 North Ocean Blvd

**Special Terms and Conditions** - Special Terms and Conditions in the Document Section are incorporated herein. - Bid increments are at the sole discretion of the Auctioneer. **Real Estate Auction Announcement** - Required opening bid published (Message the Auctioneer about how to access the reserve). - Make the bid and offer the price you are willing to pay; no matter what you are willing to pay, make your offer as soon as possible. - Bidding is active now; you can see the last bid—just ask. - Cash or qualified financing offers may be considered. - Submit all offers to the Auctioneer (multiple forms considered). - Subject to Terms and Conditions of Sale, Buyer Costs, "as is" condition, competitive bids, and Auctioneer Fees. - Seller is willing to finance up to 50% of the hammer price at prime rate plus 1%, on a non-recourse loan. Up to 30 yr amortization with 3 year ARM at prime plus 1 %. No prepayment penalty. - Message the Auctioneer for other details and how to place an offer. - Make a bid or an offer—they are the same thing. It’s easy, simple, and transparent. - Trust ~ Verify ~ Bid ~ Details are online; documents are online. If you can’t find them, message me. - 8% Buyer’s Premium. - Carolina Investor Auction – www.carolinainvestorauction.com. **Broker Participation Commission** - Variable commission. - A duly qualified Real Estate Broker may be paid $1,000 more or less (see MLS remarks) or at Broker/Auctioneer's option up to 2% fee based on the consummated purchase at bid award, with allowable registration subject to procuring cause rights in agreement with the NAR clear cooperation policy and subject to Buyer Premium full payment as described in the Specific Terms and Conditions of Sale. - Brokers may be paid 2% on a written opening bid, subject to sale procedure discretion. - An incentive of up to 4% commission may be paid only if the Buyer’s Agent is the actual procuring cause and the buyer makes an offer higher than the seller’s reserve. - Buyer’s Agent shall only be paid a commission after proper registration of their client. - Registration may be submitted on a Purchase and Sale Agreement presented to the seller with the Buyer’s Agent’s full and correct information, or by completing the authorized form in writing, or by completing full registration in an authorized bidding system. - MLS instructions may be available in the appropriate sections of the Multiple Listing Service. **General Terms and Conditions** - GENERAL TERMS AND CONDITIONS with Specific Terms and Conditions are made a part hereto (see the document section). **Buyer’s Premium and Auctioneer Fees** - Any potential purchaser may create an online account at www.carolinainvestorauction.com and register for the prospective property sale. - The bid placed may be used to determine the best offer, subject to any other offer online or offline. - If desired, you may make additional offers or bid during the process until the Auctioneer closes bidding after acceptance of a qualified offer by the seller. - Bid increments shall be administered by the agent up to the close of bidding. - Opening bids will be at the discretion of the Auctioneer, subject to refusal. - At bid award, the buyer premium or any Auctioneer fees become the property of the Auctioneer, subject to immediate deposit. - Purchasers may not restrict, hold, or demand repayment after the confirmation of sale. - In the event of collection procedures, the Auctioneer may use all lawful means necessary to collect and recover all costs and attorney’s fees associated with this bid offering. **Bid Administration** - Bids (Offers) shall stand as submitted, subject to bid administration by the Broker-Auctioneer. - Sellers may accept bids, including additional bids placed by the same bidder. - Subject to acceptance of the best offer of the bidder and/or bidder’s proxy that has willfully accepted terms, which includes all conditions of sale, payment of buyer premium and auctioneer fees, full payment of option money, closing costs, or other costs as determined by the seller. - All bids shall be an instrument to calculate the bidder’s interest to purchase property, including but not limited to written offers, electronic submissions, voice, telephone, telecopier, or text. - Bids may or may not be administered in the order received, subject to publication in public view, with any bid being subject to higher bids being placed. - Seller may accept without notice, and property shall be subject to sale without warning. - Bid increments may be adjusted prior to or during the sale process. - Bids (Offers) may be updated in the www.carolinainvestorauction.com online portal, Multiple Listing Services, Real Estate Indexes, or other public and/or private publications. **Absentee Bidding** - A qualified user may place absentee bids. - Commonly referred to as left bids or proxy bids, these can be used in connection with MAX BIDDING. - When a user leaves a max bid, this creates an offer in the maximum amount the user is willing to offer, plus all other requirements of the terms and conditions. - Auctioneers and Real Estate Brokers may evaluate all offers, including the maximum bid placed by the user, to determine the higher offer acceptable to the seller. - Competitive bids, including any bid with maximum value, shall be used to establish the best offer. - Users may increase a maximum bid amount prior to the end of the sale. - Absentee offers, maximum bids, written offers, or otherwise that are attempted to be placed after the expiration of time may or may not be taken into consideration. **Appointments** - Purchasers may schedule an in-person appointment prior to the sale. - Such appointments may relate to home inspections, surveys, ground reports, document review, or other inspections the purchaser requests. - All will be at the purchaser’s expense in advance. Available for inspection any saturday in June 2024 from 10 am to 3pm **Electronic Acceptance of Documents** - Purchaser accepts the transfer of documents, including but not limited to purchase and sale agreements, addendums, amendments to contracts, surveys, inspection documents, terms and conditions, wire instructions, or any document. - Purchase and Sale agreements may be delivered through third-party time-stamped facilitation services, including but not limited to DocuSign, Zip Forms, or comparable third-party systems to deliver and retrieve signed documents. **Non-Compliance** - Participants named as the successful high bidder and failing to execute the Purchase and Sale Agreement and/or remit the earnest deposit within 6 hours of the Purchase and Sale Agreement being delivered will be responsible for a Non-Compliance Fee of up to 10% of the offer. - This Non-Compliance Fee is a penalty for failing to abide by the Terms and Conditions of sale. - Broker/Auctioneer at its discretion shall charge the credit card on file, retain deposits, or use any other means necessary to collect such fees, subject to attorney fees and court costs. - Any bidder failing to execute a Purchase and Sale Agreement and/or remit an earnest deposit may also be prohibited from bidding on future sale offerings. - The Seller, Broker, Auctioneer, upon Non-Compliance by a bidder, reserves the right to immediately offer the property for sale. - Purchasers shall be made subject to deficiencies, cost recovery, attorney fees, and court costs. **Successful Bidder Default** - A successful bidder failing to close per the specific terms of the purchase and sale agreement for any reason shall be required to release their earnest deposits, option money, and buyer’s premium as directed by the Seller as non-exclusive liquidated damages as outlined. **Additional Terms** - The seller reserves all rights to remove, cancel bids, suspend bidding rights or privileges of any party at any time deemed not to be in the seller's best interest. - All items are subject to prior sale or removal from the auction. - General Terms and Special Terms and Conditions shall be amendments to the purchase and sale agreement. **Closing** - Time being of the essence, this sale shall be closed within the appointed time after acceptance of the offer, together with an acceptable commitment to produce a regulatory insured title policy subject to permitted policy exceptions and/or other required exclusions. - This transaction is not contingent upon financing. - Buyers will be responsible for all closing costs and may select the closing officer of their choosing. - All Earnest money deposits shall be placed in escrow until closing. - The Purchaser will be charged 100% of the cost of the title insurance policy, based on the purchase price, and 100% of all other closing costs {by purchaser's closing agent} per real estate transaction per property, which may include conducting the closing, collecting and disbursing funds at closing, title abstract, document/deed preparation, preparing a closing statement, and closing attorney fee. - If the Purchaser needs additional services, they may be requested or provided by the purchaser’s closing agent. - Any additional closing fees, including but not limited to escrow fees, attorney fees, documentary stamps, recording stamps, financing expenses, intangible taxes, title fees, appraisals, inspection reports, any additional legal work required by a lender, including 100% of any lender's title insurance policy, will be the Purchaser’s expenses. - Ad Valorem Taxes will be prorated between Seller and Purchaser, as of the date of closing. - Seller will not be responsible for any other closing costs or fees. **Default** - Should Buyer default, Buyer shall forfeit deposits, Buyers Premium, Auctioneer Fees, option money, and shall be subject to recovery of additional funds for loss, injury, or collections in the process of sale, resale, or otherwise recover costs, including any attorney fees and court costs. - Should Seller default, Seller shall repay all costs associated with the sale, including Buyers Premium, Auctioneer Fees, costs associated with closing, surveys, and closing costs. For more information, visit [www.carolinainvestorauction.com](http://www.carolinainvestorauction.com). ### POSSESSION Possession of the real estate will be granted to the purchaser at closing and funding. Possession may be granted under separate agreement between the purchaser and seller. ### INDIVIDUAL PURCHASES Individual purchases are to be considered as a single transaction not contingent upon acceptance of any other bids by the Seller. Seller has the right to sell this Property in any form or fashion that is legal and ethical in order to produce the best offer to the Seller. ### PAYMENTS All purchases shall be subject to payments directly or indirectly as prescribed by Broker/Auctioneer. Wire transfer, cashier’s check, or other verifiable liquid payment shall be issued or made readily available at the time of purchase immediately after Bid Award. Non-payment shall constitute default of the terms and conditions. Buyers may be subject to additional collection fees, including but not limited to all collection costs, attorney fees, court costs, or other recovery costs associated with the sale. ### REPRESENTATION Purchaser and Seller acknowledge and agree that the only Broker/Agent/Auctioneer involved in this transaction is Carolina Investor Auction, as Agent for the Seller in this transaction. Broker/Auctioneer has not acted as agent in this transaction for the Purchaser. Participating Brokers may be identified in the Broker participation agreement. ### SURVEY If the Purchaser wishes to have a survey, the Purchaser may select the surveyor of their choice and must abide by the terms and conditions of this real estate offering. Two (2) copies of each of the certified surveys, if any, must be delivered to both the Closing Agent at least ten (10) days prior to the Closing. Purchaser will pay for all costs associated with the survey. The Auctioneer/Broker, the Closing Agent, and each of their respective employees, attorneys, and agents expressly disclaim any liability for alleged loss or damage which may result from reliance upon such map, plat, survey, or diagram. Any such map, plat, survey, or diagram is for reference only and has been provided for the convenience of the bidders. The Purchaser shall not rely on estimated field measurements but shall rely on its own due diligence and judgment. The Property shall be sold subject to: (a) visible easements or claims of easements not shown by the public records, and shown graphically on any survey, map, or subdivision plats, and (b) boundary line disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the Property. ### PROPERTIES OFFERED DIVIDED Tract or Tracts of property may be offered divided. A larger parcel may be split into smaller parcels. These subdivided tracts may be purchased in combinations or as a whole. The purchaser shall pay for surveys or other fees associated with the divided tract. Plat maps may be conditional. ### SPECIAL CONDITIONS OF THE SALE Sellers presently have title to this Property. At the time of closing, Sellers agree to convey a marketable title to said Property by deeds as described and subject only to (1) zoning ordinances affecting said property; (2) general utility, sewer, road, and drainage easements of record; government easements, rights-of-way, covenants, restrictions, encumbrances, and other matters of record, if any issued by any government agency for any use perpetual or limited by contract or deeded restrictions in all forms (3) subdivision easements, covenants and restrictions of record, if any; and (4) leases, other easements, other restrictions and encumbrances specified herein. This property is selling subject to visible easements or claims of easements not shown by the public records, shown or not shown graphically on subdivision plats or other maintained records, prescribed use easements recorded or unrecorded, boundary lines disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the premises. This Property is sold subject to all outstanding easements on said property for roads of public record or private use being granted, prescribed, leased or otherwise conveyed easements of power, electronic and telephone lines and the like and likewise subject to any cemetery or cemeteries that may now exist on this property rights of the public to use and gain access to any cemetery lying within the bounds of the land described. All properties may be subject to lien holder’s approval and may be presented for short sale approval if applicable. However, no guarantee will be made by the seller. Purchaser will agree to all extensions required by the seller, Financial Institutions, Federal, State, and Local Courts of Jurisdiction and will accept all extensions until approval can be executed. Purchaser and seller agree that the earnest money deposits shall be held in the broker’s escrow account and can be transferred upon request to the closing agent. Any earnest money deposit shall continue to be held during the course of the contract, including any extension period or time required for acceptance in conjunction with any short sale, lien holder approval, Federal, State or Local Court actions needed to assure the seller’s ability to satisfy and deliver a marketable title. In the event a final contract agreement cannot be reached between all parties, earnest money will be returned, and each party will be held harmless. Auctioneer/Broker, and Sellers do not warrant or covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants, or hazardous waste prohibited by federal, state, or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration, or escape of such substances at, from, or into the demised premises. Buyer is to rely upon its own environmental audit or examination of the premises. This property is being sold subject to all laws federal, state, or local law concerning any species that may be listed as threatened, endangered, or otherwise protected as disclosed It is the responsibility of the purchaser to inspect the property, and the purchaser(s) shall rely on their own investigation in conjunction with the purchase of this property. Seller shall have no obligation to extend the contract-closing period and purchaser will not be granted any inspection period after the final gavel call. A detailed title search has not been conducted; therefore, Auctioneer/Broker, and Seller are not positive as to the status of the oil, gas, and mineral rights. The Seller may, at direction, convey interest in any oil, gas, or mineral rights to the Purchaser unless stated in writing that such rights shall transfer to the Purchaser, therefore prior reservations shall stand as reserved. Furthermore, oil, gas, or mineral rights previously owned, sold, conveyed, or rescinded will not be conveyed to the Purchaser and such rights may be offered as a separate conveyance unrestricted to other purchasers. Subject to rollback taxes for residential, commercial, or other use including homestead exemption. Purchaser will be responsible for any clean-up of debris and accepts property in the “as is” condition. Property may be subject to any association dues, fees, annual costs, or other assessment as required by the covenants, additionally subject to the restrictions thereof. Purchaser may be required to pay for and assume fees in conjunction with Owner Association Requirements and shall become the sole responsibility of the Purchaser. Rights or claims of parties not in possession and not shown by the public records. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Taxes or special assessments which are not shown as existing liens by the public records. ### DISCLAIMER Brokers/Auctioneer and the Sellers have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder’s convenience, and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. These documents are being provided without any replacement warranty or representation of condition, express or implied, as to its content, its suitability for any purpose, or its accuracy, truthfulness, or completeness. Each Purchaser must conduct and rely solely upon its own investigation and inspection, including room sizes and square foot measurements in the entirety of any/all structures with any calculation in part or as a whole. Further, all parties acknowledge and agree that the Property is being sold “AS IS” with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for the Purchaser. Such repairs or replacements shall be the sole responsibility of the Purchaser. All contracts will be presented at the close of the Sale with specific Seller instructions. Seller may remove property from the sale during or at any time prior to the end of sale and at the Seller’s discretion; Seller may accept the offer with the best terms. Broker/Auctioneer and/or Seller may bid or rebid on any property in tracts, combination of tracts, or as a whole, defense of a bid or any bid increment vital to producing the highest and best price under the terms and conditions of the Seller. Furthermore, it will be the Seller’s discretion to accept any additional increase on any posted bid by any individual tract purchase, combination, defense of bids, or any upset bid during or after any bid has been posted and prior to final confirmation and reserves the liberty of bidding until the acceptance in the form of a purchase and sale agreement in writing. Online offers may be transferred to live auction events or vice versa being subject to terms and conditions of any sale. Furthermore, all bids shall be posted and presented accordingly as announced by the Auctioneer. Bids may be accepted without notice to any party. Seller shall have the right to enter into a purchase contract without notice. ### AUCTIONEER’S NOTE FOR ACCEPTED PROCEDURES Broker/Auctioneer reserves the right to accept bids from all qualified bidders to include but not limited to: Live Auctions, Online Auction Platforms, Written Bids, Electronic B ids, Fax Bids, or Written offers. Sellers reserve the right to evaluate all bids and make final decisions based on all offers. Future notices may be received via electronics, certified, or standard mail. Auction is subject to Film, TV, and Photography, and all parties release Auctioneer from liability without recourse. Auctioneer acts as an agent for the seller and is not responsible for any actions between parties, including the contract. Bidders agree to the public awareness and disclosure of bids or offers until the purchase amount is made public by legal means. ### NOTICE TO CONSUMERS To make a complaint to the South Carolina Department of Labor, Licensing and Regulation: South Carolina Department of Labor, Licensing and Regulation P.O. Box 11329 Columbia, SC 29211 Phone: (803) 896-4300 Website: [www.llr.sc.gov](http://www.llr.sc.gov) ### INTENDED USE OF THIS DOCUMENT This document is for informational purposes only. Purchasers should not rely solely on the information presented here. Auctioneers, Brokers, and/or Agents disclaim all liability in connection with this sale. ### SIGNATURES Signatures on the memorandum of bid stand in place of other documents. ### REGISTRATION PROFILE Person completing registration acknowledges authority to bid on behalf of partnerships, corporations, limited liability companies, other third-party agreements, or joint ventures. False bidding, bid suppression, or collusion is a crime and may be reported to lawful units overseeing malicious bidding activity. ### RESALE In the event of buyer default, the seller authorizes Auctioneer to re-sell property at public auction. Defaulting buyer is responsible for any difference in the resale amount, marketing costs, auctioneer fees, and legal expenses. ### COMPENSATION Brokers and/or Auctioneers may receive compensation from the Buyer in the form of a buyer’s premium, fixed, variable, or by percentage. The seller may also pay marketing fees, platform fees, commissions, or other payments to the Broker and/or Auctioneer. Compensation details may be listed in the terms and conditions of sale, the listing agreement, settlement statement, or other disclosure documents. ### CONTACT INFORMATION **Carolina Investor Auction** Website: [www.carolinainvestorauction.com](http://www.carolinainvestorauction.com) Phone: (803) 984-3906 Location: North Myrtle Beach, SC --- This information is provided to help buyers understand the auction process and the terms associated with property sales through Carolina Investor Auction. Please consult legal and financial advisors for specific advice.