Auction Terms & Conditions AUCTION RULES (Terms and Conditions)
3455 Laguna Creek Trail, Vacaville CA 95688
" Auction closes on Saturday, March 28, 2020 with a 2:00pm PST Soft close
" Location of Auction: ONLINE ONLY - https://hibid.com/catalog/205661/3455-laguna-creek-trail-vacaville-ca/
" Preview dates: By appointment only on Friday March 27 between 1-4 pm
" Bidders must register prior to the start of the auction at the following link: https://hibid.com/catalog/205661/3455-laguna-creek-trail-vacaville-ca/
" A 1% commission will be paid to a Buyer's agent if the Bidder registers an agent as their agent prior to the day of the auction. The agent must attend the auction and remain with client for the contract preparation.
" Property included in the sale is the real estate only.
" The Seller reserves the right to cancel the auction at any time prior to the final bid closing.
" Possession will be granted the day of the final escrow closing.
" All announcements made up to the final close of the Auction bidding take precedence over all advertising, oral or printed material.
" Owner will enter into contract with the highest bidder utilizing the California Association of Realtor Residential Purchase Agreement.
" There will be a 6% Buyers premium added to the final bid and charged to the buyer, the final bid pus the 6% buyer's premium will establish the final sales price.
" If the highest bid is less than the total encumbrances on the property, then the highest bidder will have the option to go through the short sale process. The short sale must be approved by the lienholders in order for the sale to go through. The owner does not guarantee that the short sale will be approved which in that case, the sale will not be completed. The bidder will be notified immediately after the auction if the price did not cover the encumbrances. If the highest bidder does not want to go through the short sale process, then the next highest bidder and so on will be given the opportunity.
" Successful bidder must wire 3% of the final sales price to Placer Title Company on Monday, March 30, 2020. Wire instructions will be furnished to the successful bidder.
" I understand that I am responsible for the down payment and that my credit card will be charged for the deposit if the wire transfer is not received by the time stated on the terms and conditions of the auction.
" I currently have sufficient funds to meet the deposit requirements.
" Buyer shall be responsible for paying for the following at the close of escrow:
" Title Insurance from Placer Title Company
" Escrow cost and fees
" Seller shall be responsible for paying the following:
" County Transfer Tax
" Natural Hazard Disclosure
" Buyer and Seller agree to initial paragraph 21 of the Residential Purchase Agreement for LIQUIDATED DAMAGES
" Buyer and Seller agree to initial paragraph 22 of the Residential Purchase Agreement for DISPUTE RESOLUTION by MEDIATION AND ARBITRATION
" Seller to provide a grant deed giving marketable fee simple title subject to restrictions of record on title report. Property is sold subject to zoning, easements, restrictions and any other matters of record.
" The purchase agreement is not subject to any loan or financing contingency so be sure you are prepared to pay cash at closing or have arranged your financing.
" The purchase agreement is not subject to an appraisal contingency
" Property is sold "AS IS, WHEREIS, WITH ALL FAULTS. There are no warranties made by the auctioneer, Broker or seller(s) as to the merchantability or fitness for any specific or particular use. There is no inspection period/contingency after the auction. The only way for the buyer to make an informed decision when it comes to bidding and buying is to not only visit, view and inspect the property prior to the auction, but also read and review and property information and disclosure documents pertaining to the property. Do your investigating. Make your inspections. Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations and due diligence concerning the property. By registering and bidding at the auction, you are representing that you have not only viewed the property prior to bidding, but have also inspected, reviewed and accepted all relevant property information you deem necessary to make an informed decision. The property will not be open for inspections after the auction so be diligent and do your inspections and investigations prior to the auction.
" Close of Escrow: The close of escrow shall be April 27, 2020. If the sale is a short sale, then the close of escrow date will be determined within the short sale process.
" I understand that the terms and conditions will be strictly enforced and that there will be no exceptions.
" The following disclosures and documents are available upon request for review and will be included in the purchase contract and will require signature by the successful bidder.
o Seller Property Questionnaire (Form SPQ)
o Real Estate Transfer Disclosure (Form TDS)
o Agent Visual Inspection Disclosure (Form AVID)
o Natural Hazard Disclosure report prepared by Property ID
o Title Report prepared by Placer Title Company
o PG&E easement document recorded Nov 1, 1990
o Parcel map
o California Residential Purchase Agreement and Joint Escrow Instructions (Form RPA-CA)
o Disclosure Regarding Real Estate Agency Relationship (Form AD)
o Possible Representation of more than one buyer or seller - Disclosure and Consent (Form PRBS)
o Wire Fraud and Electronic Funds Transfer Advisory (Form WFA)
o Statewide Buyers and Sellers Advisory
o California Consumer Privacy Act Advisory (Form CCPA)
o Short Sale addendum (Form SSA) - to be incorporated in the purchase contract if becomes applicable.
o Short Sale Information and Advisory (Form SSIA) to be incorporated in the purchase contract if becomes applicable.
o Solano County Department of Environmental Management Individual Sewage Disposal System application and permit (7 pages)
o Swimming Hole Calculations dated April 2002 (1 page)