1. Rothrock Auction LLC (RAL) is an agent for the sellers.
1.1 LETTER OF PRE-APPROVAL / BANK LETTER OF CREDIT: Before your registration and bidding is approved, you are required to provide the Auction Company with a bank letter of credit or bank pre-approval. You can have your bank letter of credit or pre-approval emailed to rothrockauction@gmail.com.
2. The winning bidder will place a 5% deposit as a non-refundable down payment in the form of a good check or wire transfer payable to "Rothrock Auction LLC R/E Escrow" no later than 48 hours from the close of this auction. Also the buyer will be required to sign a real estate purchase agreement.
3. No buyer's premium.
4. RAL is not responsible for incorrect or missing listing information. RAL has attempted to provide accurate information. However, it is the bidder's responsibility to conduct any inspection to determine condition. Bidders should complete their own due diligence prior to bidding.
5. Winning bidder will be required to sign a real estate purchase agreement within 48 hours of the completion of the auction.
6. The seller shall pay the seller's side of the closing fee and document prep fee. The buyer shall pay the buyer's side of the closing fee and the document prep fee. The seller shall pay no closing cost for the buyer, including any lender fee's unless otherwise agreed to in the contract for the sale of the real estate.
7. The buyer acknowledges here in that the property is being sold "As Is" with all faults and neither the seller nor Rothrock Auction LLC make any warranties or representations, expressed or implied, as to the conditions, square footage, acreage or boundary lines of the real property conveyed herein.
8. Rothrock Auction LLC reserves the right to reject any, and all bids for any reason. Rothrock Auction LLC reserves the right to cancel this auction or remove the lot prior to the close of bidding.
9. All bids are subject to seller confirmation.
10. This property is subject to any, and all easements and restrictions of record. Also the property is subject to all state and local zoning ordinances.
11. Buyer will be given a General Warranty Deed unless otherwise noted.
12. Possession is with the deed at closing. Closing will be approximately 45 days.
13. The current year property taxes due next year will be prorated at closing unless otherwise noted.
14. The identity of all bidders will be verified. If a complete verification is not possible then Rothrock Auction LLC will reject the bidder and the bidding activity will be terminated.
15. Bidders agree to keep their username and password confidential, as they are responsible for any and all activity involving their account. All bidders must be 18 years of age or older. You agree all information you provide during the registration process will be true and accurate.
16. You agree that if any of the information associated with your bidder number changes at any time prior to, during, or after this auction, you will notify us of the change. You can call us at 618.838.8263 or send us an email at rothrockauction@gmail.com
17. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion.
18. We reserve the right to accept bids in any increment we feel is in the best interest of the Seller(s). We reserve the right to reject the bidding of any person whose conduct, actions, or adverse comments we feel is not in the best interest of the Seller(s).
19. You agree that the auctioneer will be the sole authority regarding the identification of the winning bidder. The auctioneer will be the final judge of disputes.
20. Any claim or controversy out of or relating to the Terms & Conditions, or to any breach thereof, will be settled either (1) Richland County, Illinois' Small Claims Court if the claim in questions amounts to less than $10,000 or (2) by means of arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association if the claim in question amount to more than $10,000. You agree that all claims will be litigated or arbitrated on an individual basis and will not be consolidated with any made by another party. Venue in every case will be in Richland County, Illinois. You agree that judgements awarded will be applied to and collected from you personally or corporately. Should any party file an article contrary to this paragraph, the counterparty may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, you agree to reimburse the Auctioneer for all legal fees.
21. No Liability for site malfunction. You understand that this auction is online-only and so relies on devices and programs that may malfunction without warning. You agree that the Auctioneer will not be liable for any error or inconvenience that may be the resu
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