TERMS & CONDITIONS CURRENT RIVER REAL ESTATE AUCTION
ESTATE AUCTION
SELLER: MILLS FAMILY
GUARANTEED CLEAR TITLE INSURANCE PROVIDED BY THE SELLER
Please remember this auction has a 10% Auction Fee ( Buyers Fee) added to your high bid to make for your total contact price. Title Insurance is included. Taxes are current and will be pro rated to closing date.
THIS IS A SOFT CLOSE AUCTION: This means that bidding will will begin to end at 6 PM Local Time. HOWEVER if anyone bids during the last minute, the bidding will extend for 2 minutes until there are no more bids during the last minute. THIS MEANS THE AUCTION MAY NOT END AT 6 PM SHARP.
YOU CAN BID ON (1 ) TRACT OR ALL ( 5 ) BUT ARE NOT REQUIRED TO BID ON ALL (5). IF YOU ARE THE HIGH BIDDER ON ALL (50 THEN YOU ARE THE HIGH BIDDER ON THE ENTIRE FARM.
LOT NUMBERS WILL BE LINKED TOGETHER BY THE AUCTION COMPANY SO THAT ALL END AT THE SAME TIME ONCE THERE ARE NO OTHER BIDS. CALL AUCTION COMPANY @ 573-429-7069 WITH QUESTIONS
IF YOU INTEND TO BID OR WATCH LAST MINUTE: We cannot guarantee your internet service or lack of. We recommend that if you are not 100% sure of your internet or do not want to bid last minute to use the MAX BID FEATURE. You may enter a MAX BID of any amount at or above your current bid in the same slot and the software will only bid for you to the next increment unless someone else already has a max bid above yours. If so it will take the first bid in order. There can be no tie bids.
END TIMES AND BIDDDING EXTENSION TIMES WILL BE LINKED TOGETHER FOR ALL (5) TRACTS.
IA BIDDER MAY BID ON ONE OR AS MANY TRACTS AS THEY DESIRE. IF A BIDDER ENDS UP BEING THE HIGH BIDDER N ALL INDIVDUAL TRACTS, THEN THEY ARE THE HIGH BIDDER ON THE ENTIRE PROPERTY.
LIVE CATALOG: If you intend to bid or watch last minute, make sure to click on the FLASHING "ENTER LIVE CATALOG" BUTTON in the last 30 minutes. You should be able to see the seconds counting down then or you will have to keep refreshing your screen and may miss the close of the auction!
Property Sells to the Highest Bidder Subject to Seller Approval.
If you have any questions, orr need assistance please call my cell direct WELL AHEAD OF TIME @ 573-429-7069
Thanks and Happy Bidding!
TERMS & CONDITIONS OF AUCTION:
CURRENT RIVER FARM Online Only Real Estate Auction
10% BUYERS FEE Added to all High Bids
Guaranteed Clear Title Insurance Policy will be provided by the seller from Applicable Title Cpmpany.
Additional Financial Information including Bank letter of Credit, Loan Approval Documenation or Proof of Funds may be Required in order to Bid. Call Auction Company @ 573-727-9656
Online Only Auction These "Terms and Conditions of Auction" supersede all other printed and oral statements and will be attached to and become a part of the REAL ESTATE PURCHASE AND SALE AGREEMENT ("Agreement"), which will contain the precise conditions of sale and will prevail over this document and any other agreement between the Purchaser, Seller and Auction Company. United Country-Birdsong Auction & Real Estate Group, ("Auction Company") has entered into a contract with "Seller" to sell the property located at Ripley County, Missouri, Seller has the right, in their sole discretion, for any or no reason, to add or withdraw any or all property prior to commencement of the bidding before or during the online auction.
OFFERING:ESTATE AUCTION ALL TRACTS OFFERED will be sold to the highest bidder, subject to Final seller approval. We anticiipate all tracts to sell on auction day. All-decisions of the Auctioneer shall be final, including but not limited to decisions on matters such as -increments of bidding, disputes among bidders, and any other issues that may arise during the sale. SELLER WILL HAVE 48 HOURS TO CONFIRM / APPROVE ALL OR ANY BIDS.
There is a 10% Auction Fee for this Auction. The Property will be sold "AS IS, WHERE IS." No additional warranties, other than clear title, either statutory or otherwise, expressed or implied, of any kind whatsoever, including those as to the fitness for a particular use or purpose, gurantee of acerage, sewer, septic or well regulations, habitability, merchantability, quality of construction, or environmental condition [including without limitation, the presence or absence of asbestos, lead-based paint, or any hazardous substances, Mold, Mildew, hazardous wastes, petroleum or petroleum by-products (collectively "Hazardous Materials")] concerning or with respect to the Property are given by the Seller or Auction Company.This Property will be sold subject to any Declaration of Covenants, existing rights-of-way, public utilities, health department regulations, encroachments, zoning ordinances, and all other matters now of record, as well as its compliance with any federal, state and local laws or regulations. .
LIFE ESTATE FOR MAIN HOME LOCATED TRACT 4:
MAIN HOME TRACT (4) IS SUBJECT TO A LIFE ESTATE FOR RESIDENT RELATIVE FOR TO OCCUPY THE HOME ONLY. PLEASE CALL AUCTtION COMPANY FOR DETAILS 573-727-9656
SURVEY: TRACTS HAVE NOT BEEN RECENTLY SURVEYED AND WILL BE SELLING PER LEGAL DESCRIPTION, FSA MAP, COUNTY TAX DESCRIPTION AND TRACT MAP A NEW SURVEY WILL ONLY BE PROVIDED BY THE SELLER IF REQUIRED TO IDENTIFY NEW BOUNDARIES, GIVE INSURABLE TITLE, NEW LEGAL DESRIPTIONS FOR TITLE ..
FENCING: THERE IS CURRENTLY NO FENCING SEPARATING TARCT 5 FROM THE ADJOINING FARM DOWNSTREAM
SOME ACREAGE MAY LIE IN THE CURRENT RIVER BED.
IF TRACTS 1, 4 & 5 SELL SERATELY, THEN A BOUNDARY SURVEY AND ROAD EASEMENT WILL BE SURVEYED ( PER SELLER APPROVED SALE) TO THE POINT OF THE ENTRY ROAD INTO TRACT 5. ALONG WITH NEW BOUDARY CREATED/ IF TRACTS 1, 4 & 5 SELL TOGETHER IORO WITH THE ENTIRE FARM, THEN NO NEW SURVEY WILL BVE PROVIDED OTHER THAN TO ESTABLISH NEW LINES WITH ADJOINING TRACTS IF REQUIRED BY TITLE. ANY OTHER survey required or desired by the Purchaser or Purchaser's Lender it shall be at Purchaser's expense and shall not be a contingency of closing. FSA MAPS AND ARE AVAILBLE BY CALLING AUCTION COMPANY @ 573-429-7069
All bidders acknowledge and agree by their participation in the auction, that the bidder has inspected the respective Property offered at this auction today, or voluntarily chose not to inspect, and are not relying on any warranty or representation of Seller, Broker, Auction Company, or any agent thereof, and that the bidder would be buying the Property "AS IS, WHERE IS" and "WITH ALL FAULTS." ALL MAPS DIAGRAMS AND SKETCHES ARE FOR ILLUSTRATION PURPOSES ONLY. PROPERTY IS SELLING BY CURRENT LEAGAL DESRIPTION, TAX PARCEL AND OR A NEW SURVEY IF REQUIRED ONLY TO DEFINE NEW LINES AND OR LEAGAL DESCRIPTIONS FOR INSURABLE TITLE. PURCHASE PRICE INCLIDES GUARANTEED CLEAR TITLE INSURNACE.
All bidders must receive a bid number in order to bid. A valid credit card is required to bid. Bidder agrees that a $500 hold can be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $500 internet service fee is non-refundable and will be charged to their credit card. If they are not the winning bidder, the $500 internet service fee will be released.
The successful bidder will be required to sign the "Purchase and Sale Agreement" within 24 hours of auction close and deposit 10% of the total contract price into the escrow account of APPLICABLE TITLE COMPANY WITHIN 48 HOURS OF BEING DECLARED THE WINNING BIDDER.. Failure to do so will be considered a breach of contract.
Under no circumstances shall Bidder have any kind of claim against United Country | Birdsong Auction & Real Estate Group, LLC, or anyone else if the Internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the online auction, they have accepted all of these Terms and Conditions. Bidder is responsible for any and all bids placed by their account.
All decisions of the Auctioneer shall be final, including but not limited to decisions on matters such as increments of bidding, disputes among bidders, and any other issues that may arise during the sale.
The total purchase price shall be the winning bid plus AUCTION FEE AND 1/2 the closing fee itself. with the exception of any costs associated with a buyer obtaining a loan. Purchase is not contingent upon financing.. The successful bidder shall be required to sign the Agreement and pay earnest money equal to ten percent (10%) of that total purchase price, as ("Earnest Money Deposit") within 24 hours following the auction close. The Earnest Money Deposit will be deducted from the total sale price, witrh the balance due within 45 days of Being declared the winning biddere, subject to final court approval.after being declared the Purchaser. Earnest Money Deposit check shall be made payable to TITLE COMPANY AS APPLICABLE. If, for any reason Buyer fails to execute The Real Estate Purchase and Sale Agreement or pay the deposit immediately following the auction, Seller has sole discretion to: (a) pursue all legal and equitable remedies available against Buyer, or (b) declare the Buyer's bid to be immediately forfeited, null, and void, without any requirement of notice, and immediately re-sell the Property to another buyer. The Earnest Money Deposit will be held in a non-interest bearing escrow account under the control of Butler County , pending the Closing and in accordance with the Purchase Agreement. No disbursement will be made from the escrow account until closing or as otherwise set forth in accordance with the Purchase Agreement. In the event a Purchaser fails to close and pay his or her balance when due, the Deposit may be retained by Seller as liquidated damages, in addition to any other remedies available to Seller, and will be distributed in accordance to a separate agreement between Seller and Auction Company.
CLOSING: . Closing shall be on or before JUNE 6, 2024 or within 45 days of being declared the winning bidder., time being of the essence, or in accordance with the Purchase Agreement, or other such date mutually agreed upon by Seller and Purchaser in writing. CASH BUYERS MAY CLOSE IN A MUCH SHORTER TIME FRAME. Taxes for 2024 shall be prorated to the date of closing. Purchaser will be responsible for any subsequent assessments for prior years due to changes in the usage of the Property. Purchaser and Seller agree this is a "CASH, AS-IS SALE" not subject to Purchaser obtaining financing. Seller will deliver a Special Warranty Deed and Sellers Title Policy conveying the property free and clear of all encumbrances, except as is otherwise provided in the Purchase Agreement. Seller and Purchaser will split customary closing fees 50/50 with the exception of lenders policy any costs and/or fees related to the Purchaser's financing or Purchaser's attorney. (See Exhibit D - Estimated Closing Fees). POSSESSION SHALL BE GRANTED TO PURCHASER UPON CLOSING AND FUNDING OF TRANSACTION.
TRACT MAPS AND COMBINATIONS ARE FOR ILLUSTRATON PURPOSES ONLY AND MAY BE ADDED PRIOR TO CLOSE OF BIDDING. BUYERS ARE ENCOURAGED TO DO THEIR OWN DUE DILLIGENCE AND ACKKNOWLDGE THEY HAVE EITHER HAD AN OPPORTUNITY TO INSPECT THE PORERTIE(S) OR HAVE CHOSEN NOT TO DO SO.
POOLING OR BID RIGGING: Any agreement among potential bidders not to bid against one another, or otherwise to dampen the bidding process, is a felony under federal law. The Auctioneer reserves the right to bid on behalf of the Seller if he detects or suspects this fraud by two or more bidders.
NOTIFICATION OF BINDING ARBITRATION: In the event a dispute shall arise between the parties relating to the Real Estate Purchase and Sale Agreement, property issues, or the Auction, and involving the Seller, Bidder, Buyer, Broker, Auctioneer or Auction Company, in any combination, it is hereby agreed that the dispute shall be determined and resolved exclusively by neutral arbitration as provided by Missouri law.
AUCTION COMPANY AND BROKER NOTICE OF AGENCY RELATIONSHIP: The Auction Company,
Auctioneer, and Broker are acting as agents for the Seller in this transaction and are to be paid a fee by the Seller pursuant to a separate written agreement between Seller, Broker, Auctioneer and Auction Company. Neither the Auction Company, Auctioneer nor Broker is acting in any way as agent for the Purchaser in this transaction. Any third party broker is not a subagent of the Auction Company, Auctioneer, or Broker
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