REAL ESTATE TERMS
Financial arrangements should be made prior to the auction! The sale IS NOT contingent upon financing. Potential buyers may make any inspections prior to auction. Please contact Auction Company to schedule viewings. The Real Estate is sold "AS IS", no warranties either expressed or implied. Successful bidder or bidders will be required to enter into a written contract and deposit 10% down no later than the day after the close of the sale (August 1, 2024). Remaining balance will be due at closing. Deed and title insurance will be provided by seller. Possession will be given on date of closing.
1. Real Estate will be sold "as is, where is", with no guarantees of any kind. Buyers shall rely entirely on their own inspection and information.
2. The Real Estate consists of approximately 6.27 acres. Information in the auction advertising was obtained from sources believed to be accurate but is subject to verification by all parties relying on it. Bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The sale of the property is not conditional upon any type of inspection. If you or any concerned party to the transaction need any type of inspection completed, you may do so prior to bidding. Bidding is not conditional upon financing. Financing arrangements are to be made PRIOR to bidding. Bidders should ensure in advance of bidding that they are able to obtain the necessary financing to close the transaction. Owner's Policy of Title Insurance will be provided by the seller in the amount of the total purchase price and seller shall execute an appropriate warranty deed conveying the real estate to the buyer(s). The sale of the property shall include all mineral rights owned by the seller. Real Estate taxes will be prorated to date of closing and shall be paid by the Seller in the form of a credit on the closing settlement statement to the buyer. The most recent tax figures available will be used to determine the amount of the credit. Back taxes, if any, will be paid by the seller. Sale of the property is subject to any and all easements of record. Title insurance company for this real estate auction will be Jackson County Abstract and Title. All final bids are subject to the Seller's approval unless advertised otherwise. If the Seller's approval is received, the Real Estate will be declared "SOLD" by Canning Auctions LLC.
3. Real Estate Contract: The winning bidder will be required to enter into a Real Estate Sale Contract with the Seller. The Real Estate Sale Contract and other documents will be emailed to the winning bidder to print and accurately complete and sign without modifications and return via email, fax, certified mail or in person to Canning Auctions LLC by 4:00 p.m. the day following the close of the auction. Failure of the winning bidder to execute and return the completed contract according to these terms will render the winning bidder in default. Default by the winning bidder will result in that Bidder's liability to both the Seller and Canning Auctions LLC. Seller will have the right to declare this contractual agreement canceled and recover full damage for breach; OR elect to affirm this contractual agreement and enforce its specific performance; OR resell the property either publicly or privately AND the winning bidder (BUYER) shall be liable for payment of any deficiency realized from the second sale, plus all costs, including but not limited to the holding costs of the property, the expenses of both sales, and legal and incidental damages of both the Seller and Canning Auctions LLC.
4. Earnest Money: The winning bidder is required to make an earnest money down payment in the amount of 10% of the final bid The deposit must be paid by the close of business Thursday Aug. 1st . Earnest money may be paid by personal check, certified check, or may be wired. Checks should be made payable Canning Auction Service. Winning Bidders whose documents and deposit are not received within the required timeframe are subject to paying liquidated damages and earnest money. The winning bidder will also be prohibited from bidding in any future auctions.
5. Closing for the Real Estate will be determined by Jackson County Abstract. The balance of the contract price will be due at closing. Possession will be given on the date of closing. Any personal property owned by the seller and left on the real estate will become the property and responsibility of the new buyer after the closing date.
6. You must be eighteen years old or older to register. In order to bid at this Auction, you will need to register and create a user name and password. Bidders agree to keep their username and password confidential as they are responsible for any and all activity involving their account. Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Bidding rights are provisional and if identity verification is questionable, Canning Auctions LLC has the right to reject the registration and bidding activity will be terminated. You agree that all the information you provide during the registration process will be true and accurate. Canning Auctions LLC reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc...
7. Bidders understand that this auction is ONLINE ONLY and bidding relies on devices and programs that may malfunction without warning. In the event there are technical difficulties related to the server, software, internet or any other auction related technologies, Canning Auctions LLC reserves the right to extend bidding, continue the bidding or close the bidding.
**** NOTE PLEASE DO NOT LET ONLINE BIDDING DETER YOU FROM BIDDING, Canning auctions will happily take a paper bid from a bidder as long as the bidder has personally inspected the property and has made financial arrangement prior to placing a paper or absentee bid.