Auction Terms & Conditions 1: Cross Roads Auction Group (CAG) are agents for the seller, bidders are representing themselves
2: Winning Bidders will place a 15% deposit as a non refundable down payment in the form of a good check, cash, or wire transfer to Exit Cross Roads Escrow no later than 24 hours from the close of this auction. Also, to sign a purchase and sale agreement.
3: There will be a 10% buyers premium added to the final bid to establish the final selling price.
4: Each CAG auction may have different bidding increments. The software will calculate the next bid amount before submitting bids.
5: Bidders will need to watch their bidding screen to determine the current winning bid. Bidders will receive a email notice of Outbid but not guaranteed.
6: CAG is not responsible for incorrect or missing listing information. CAG has attempted to provide accurate information. However it is the bidder's responsiblity to conduct any inspection to determine condition. Bidders should complete their own due diliegence prior to bidding.
7: CAG shall modify detail of this auction for any reason including but not limited to technical issues, emergencies, and convenience of the auction firm or selller.
8: In the event that there are techincal difficulties related to the auction platform, server, or any other auction related technologies CAG reserves the right to extend bidding, continue the bidding, or close the bidding. Niether the company providing the software nor CAG shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
9: Winning bidders will be required to sign a purchase and sale agreement with in 24 hours of the completion of the auction.
10: The seller shall pay the seller's side of the closing fee and document prep fee. The buyer shall pay the buyers side of the closing fee and 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 sale of Real Estate. CAG will work with any lender or Attorney of your choosing for closing.
11: The buyer acknowledges here in that the property is being sold "As Is" with all faults and neither the seller nor CAG makes any warranties or representations, express or implied, as to the conditions, square footage, acreage or boundary line of the real property conveyed here in. The seller is not responsible for any repairs.
12: Any buyer or bidder not executing their responsibilities at the conclusion of this auction shall pay CAG an amount equal to the Buyer Premium or commission and any expenses incurred for this auction. The buyer shall also pay the seller any damages caused by said breach of contract including attorney fees and cost. If the buyer defaults on any terms laid out in the purchase and sale aggrement in any manner what so ever that the earnest money shall be paid first to CAG for commission and expenses and the balance to the sellers. In the event any bidder defaults shall be banned from bidding at any other CAG auction.
13: CAG reserves the right to reject any and all bids for any reason. CAG reserves the right to cancel this auction or remove any lot prior to the close of bidding.
14: All bids are subject to seller confirmation unless noted Absolute.
15: Buyer will be given a General Warranty Deed unless othewise noted.
16: Possesion is with the deed at closing.
17: Property taxes will be prorated at closing unless otherwise noted.
18: 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.
19: The identity of all bidders will be verified. If a complete verification is not possible then CAG will reject the bidder and the bidding activity will be terminated.
20: 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.
21. Subject to bidding extension or soft close out.
22. Homes built before 1978 may contain lead base paint. Buyer to sign a waiver of inspection.
Seller User Terms
Bidder User Terms