TERMS AND CONDITIONS
1. If bidding online, buyer agrees to send proof of funds immediately upon entering a bid. Email to townandauction@gmail.com.
2. Auction: This will be available to bid online and on-site IN PERSON simultaneously.
3. Buyer’s Premium: A 10% fee will be added to the final bid price to determine the contract sale price.
4. The winning bidder will enter into a Contract to Purchase immediately upon being declared the successful bidder by the Auctioneer. Onsite bidders will sign the contract at the conclusion of the auction. Online bidders will receive the Contract to Purchase via email, and a signed copy must be returned to Town & Lake Realty & Auction on or before 6:00 PM the day of sale (hand-delivered, faxed, or scanned and emailed). This is a Reserve Auction."
5. A down payment of 20% of the contract purchase price is due upon acceptance of the Sales Contract. If the winning bidder is online, the down payment must be delivered to the title company within 72 hours of the auction ending. Bidding is not contingent upon financing. The remaining balance will be due at closing. The down payment is non-refundable.
6. Closing shall occur within 30 calendar days of the auction closing.
7. Possession will be given at closing.
8. Real estate taxes will be prorated up to the closing date.
9. Buyer is responsible for all closing and title expenses. A General Warranty Deed will be provided, and the home will be free of all liens.
10. Under no circumstances shall the bidder have any claim against Town & Lake Realty & Auction or anyone else if the internet service fails to work correctly before or during the auction.
11. The information is believed to be accurate; however, no liability is assumed for its accuracy, errors, or omissions. All lines drawn on maps, photographs, and other images are approximate. Buyers should verify all information to their satisfaction. There are no expressed or implied warranties pertaining to this property.
12. The real estate is being sold “As-Is, Where-Is” with no warranties expressed or implied. Please conduct all inspections and arrange financing prior to the end of bidding.
13. Announcements take precedence the day of auction.
Submission of a bid constitutes acknowledgment and acceptance of all terms and conditions.