Downtown Commercial Building Terms and Conditions
Auction Terms & Conditions: Terms and Conditions for INTERNET & LIVE WEBCAST auction Downtown Commercial Building. LIVE WEBCAST AUCTION MONDAY, APRIL 13, 2026 AT 6:00PM CST. The in person LIVE Auction will be located in Overbrook at PRE-AUCTION BIDS WILL BE ADMINISTERED AT THE BEGINNING OF THE LIVE WEBCAST. 1. Property is offered "as-is" with any and all faults with positively no contingencies. Buyer is responsible for conducting their own due diligence. 2. This is a RESERVE PUBLIC AUCTION. The seller reserves the right to accept or reject the final bid. 3. The property shall transfer by Deed that is acceptable by title company, subject to seller obtaining merchantable title, free and clear of any and all liens. Seller and Buyer will split the cost of title insurance and the closing fee charged by title company to close the transaction. 4. Once bidding is closed, there shall be no further bidding. In the case of any disputes, the Auctioneer will use his judgment as to good faith of all claims and his decision is final. 5. All bidders are required to register online to participate in the auction. 6. Should a dispute arise during or after the auction, auctioneer’s records and judgment shall be conclusive in all respects. 7. This is a privately owned and operated auction. We reserve the right to refuse participation to any person(s). No transfer shall be recognized from one buyer to another. 8. Auctioneer and/or seller reserve(s) the right to withdraw the property prior to the beginning of the live webcast auction. 9. Bidder does hereby indemnify and hold harmless Auctioneer/Real Estate salesman, broker, Auction Companies, and Seller from any and all damages, claims or liabilities from injuries to person or property of any type whatsoever, caused during auction. 10. Auction company has full discretion to modify the date and time, order, and details of the sale of any asset or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of the Auction Company or the seller. Statements made at time of live webcast auction take precedence over advertising and any printed material or previous statements. 11. Auction company and seller are not responsible for a bidder’s inability to participate in this auction, including but not limited to, technical issues, internet issues, personal ability, etc. 12. ANY BID SUBMITTED ONLINE CONSTITUTES A BINDING OFFER TO PURCHASE AND AGREEMENT TO ALL TERMS & CONDITIONS, AS WELL AS AGREEMENT TO PERFORM. 13. Earnest money: The high bidder shall, no later than 12:00pm (noon) CST TUES, APRIL 13TH, 2026 , deliver the non-refundable amount of $10,000.00, in either personal/business check, certified funds or wire transfer made payable to Advanced Title, Inc. and delivered to an Auction Company representative, at an agreed upon location and sign a purchase contract at that time, unless contract has been signed through electronic means, and will be deposited into their escrow account and held until closing. Said escrow company shall also handle all closing matters. Balance of the purchase price shall be due and payable at closing on or before MAY 13, 2026. Time is of the essence in this transaction. 14. BUYER’S PREMIUM: An amount totaling 1% of the highest bid on each tract will be added to the highest bid to achieve the final sold price. EXAMPLE: A highest bid of $100,000.00 plus 1% would result in a contract price of $101,000.00. 15. Superior Real Estate and Land Group lists Wayne Wischropp, as a Designated seller’s agent, representing the seller, not the buyer. 16. Any additional terms and conditions shown on the online-bidding site are in effect for this auction. 17. Buyer’s agents must be registered with auction company no later than 72 hours prior to their client submitting ANY bid on this auction.