Auction Terms & Conditions
(To be attached and made a part of the Purchase Contract)
BIDDER REGISTRATION: All prospective buyers must register in order to be issued a Bidder's number and bid at the auction. Bidders will need proof of the appropriate deposit funds as stated below upon registration.
BUYER'S PREMIUM: A 10% (ten percent) Buyer's Premium will be charged and added to the high bid in order to determine the Final Contract Price. The successful Bidder will be required to sign an Oregon Real Estate Sales Agreement ("Purchase Contract") and submit deposit funds on the day of the auction.
DEPOSIT: A $10,000 deposit will be required for the property on auction day from the successful bidder. The deposit shall be in the form of cashier's check, or Wire Transfer for online bidders due within 25 hours of the start of the auction. Balance of the Final Contract Price is due within 32 days from the date of the auction (Feb 16th 2023). Deposit funds are non-refundable upon the seller's acceptance.
BROKER REGISTRATION: A 2.5% commission of the purchase price will be paid to the licensed Real Estate Broker whose prospect pays and closes escrow on the auction property. To qualify for the commission, licensed agent must register and accompany their client to the auction. A Broker Registration form must be signed by Broker, their Principal Broker, and buyer and be received and acknowledged by Stuart Realty Group, Inc. by 6pm Saturday, Jan. 14th, 2023. Registration forms may be e-mailed to Tim@StuartRealtyGroupInc.com or mailed via US Mail to Stuart Realty Group, Inc. ATTN: Tim Stuart, 358 NW 1st Ave, Suite 7, Canby, Oregon 97013.
CLOSING: Closing will occur on or before Thursday, Feb. 16th, 2023 through Fidelity National Title Company Salem.
POSSESSION: Possession shall be 6pm on the date of closing.
TITLE: Standard Title Insurance and escrow closing fees apply. Title insurance will be provided by the seller insuring the title on such property to be in fee simple, subject to no encumbrances except for current taxes and assessments, easements, right of ways, reservations, covenants, conditions, and restrictions of record. A copy of the Preliminary Title Report will be provided prior to close of escrow. This transaction shall close in an escrow office, escrow fees to be split 50/50. Taxes will be pro-rated as to the date of closing. The highest bidder will be liable for breach of the Purchase Contract if said bidder cannot perform.
PROPERTY INSPECTION: Previewing is essential. The property is being sold in "AS IS - WHERE IS" condition, with no warranty or representation, expressed, written or implied. The sale of this property is subject to any and all easements, restrictions, roadways, and right-of-ways of record. Potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. Bidding is not contingent upon any financing or additional inspections.
SELLER'S & AUCTIONEER'S DISCLAIMER: Stuart Realty Group, Inc. and BHHSREP represent the Seller exclusively. All announcements made by the Auctioneer on auction day shall take precedence over any previously written material or oral statements made. Conduct of the auction, increments of the bidding and decisions as to the high bidder will be at the direction and sole discretion of the Auctioneer. The information contained in the Property Information Package is believed to be accurate but is subject to the verification by all parties relying on it.
Neither the Seller, Auctioneers, nor their respective agents, representatives, employees, officers, directors, nor shareholders shall be liable for any inaccuracies, errors, or omissions in the brochure or in any related document submitted or delivered in connection herewith. All acreage, dimensions, square footage, and taxes in the brochure are from public record and are deemed reliable but are not guaranteed. All properties are available for and subject to prior sale up to one week prior to the auction.
ONLINE & ABSENTEE BIDDING: Internet bidding will be available through the StuartRealtyGroup.HiBid.com website if you are unable to attend the live auction event and want to bid on the property. Absentee bids will also be accepted, providing you qualify with Stuart Realty Group, Inc. 24 hours prior to the auction. All online and absentee bidders must sign an affidavit stating that they have inspected the property prior to bidding or waive the right to do so.
Property being sold subject to the seller confirmation: Suggested starting bid of $200,000
SELLER RESERVES THE RIGHT TO SELL THE PROPERTY UP TO ONE WEEK PRIOR TO THE AUCTION.
Auctioneer reserves the right to change any Terms of Sale or remove property from the auction.