Real Estate Auction Terms & Conditions
By registering for this auction, the bidder agrees that the items listed below shall govern this auction and he/she agrees to them.
1: Bidder Deposit:To secure a bidder # and place bids, the bidder must deposit by credit card or wire transfer, a fully refundable deposit in the amount of $500. with auctioneer, (call Marcia at 570-660-9094 to make
deposit). Auctioneer reserves the right to approve or decline any bidders attempting to register online but who fails to fully meet the requirements of the online registration. The high bidder agrees that once notified and
declared as the winning bidder (bid has been accepted) he/she will pay by credit card, wire transfer, or Cashier’s Check, within 24 hours of notification, a 10% earnest money escrow deposit to Auction Company
based on the total purchase price (i.e. high bid amount + 10% buyer’s premium = Total Purchase Price).
ALL Online Bidder Deposits shall be returned to the online bidders within 4 business days following the auction.
2: Buyer's Premium: A 10% Buyer's Premium shall be applied to the winning bid placed online. The Buyer's Premium shall be added to the winning bid to arrive at the Total Contract Price to be paid by the buyer at
closing. Property is offered subject to Owner's confirmation.
3: Sales Contract and Escrow Funds: Immediately upon conclusion of auction, the winning bidder shall sign a Purchase and Sale Agreement. The fully executed purchase and sale agreement shall control all terms
and conditions of the sale and constitute the entire agreement between the seller and the winning bidder. In the event of a conflict between these Terms and Conditions of Auction and the Purchase and Sale Agreement,
the terms and conditions of the Purchase and Sale Agreement shall prevail. No changes to the terms of the Purchase and Sale Agreement will be permitted. The winning bidder shall be required to enter into the
Purchase and Sale Agreement in its current form immediately following the close of bidding. If for any reason a bidder fails or refuses to make the Earnest Money Deposit or to execute the Purchase and Sale Agreement
immediately after being confirmed as the winning bidder, the Auctioneer and/or the seller reserves the right to declare the bidder's rights forfeited and may resell the property and pursue any other remedy available,
whether legal or equitable, against such bidder. Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired and recordable Power of Attorney, approved by the Auctioneer and/or the seller prior to the auction. If a person is bidding on behalf of a corporate entity, the bidder shall be individually bound until the bidder presents evidence that he/she is authorized to sign on behalf of such entity, all in a form acceptable to the Auctioneer and/or seller.
4: Earnest Money Deposit: Immediately upon conclusion of the auction, the winning bidder shall be required to place 10% of the Total Contract Price down as a non-refundable Earnest Money Deposit. The Earnest
Money Deposit may be made in the form of cash, cashier's check, or wire transfer, subject to the seller's approval.
5: Closing Documents: Prior to the auction, seller has represented to broker/auctioneer that title conveyed shall be insurable and free and clear of liens or encumbrances.
6: As Is: The subject property is being sold "AS IS, WHERE IS" without any warranty either expressed or implied by either sell/broker/auctioneer.
7: Representation: By execution of this agreement the bidder acknowledges the Broker/Auctioneer represents the seller only, and the commission paid in respect to this sale is identified as a Buyer's Premium.
8: Determination of Disputes: In the case of disputed bids, the Broker/Auctioneer shall exercise his or her best discretion in determining the resolution of claims and such decision is final. Such decision shall not be
the subject of any post-auction claims. No assignment of the Purchase and Sale Agreement shall be recognized from one bidder to another. In the event a dispute should arise after the auction, the Auctioneer's records shall be conclusive.
9: Indemnity Provisions: By execution of this agreement, bidder agrees to bear responsibility for any charges, claims or expenses incurred by reason of any violation, breach or default in respect to these terms and conditions, including reasonable attorney's fees, court costs, the cost of re-sale, and
re-marketing costs. The foregoing remedies are not exclusive.
10: General Provisions: The provisions herein made cannot be altered except in writing and any provision of this agreement shall be interpreted/applied in accord with the laws of the State of New York specifically those
in Tioga County, in which the property is situated. These terms and
conditions shall not be interpreted or construed in a manner which creates a negative inference based upon the fact that the seller/broker/auctioneer prepared the terms and conditions. Electronic and signatures shall be considered binding. In such event any provision herein is deemed illegal, void or unenforceable by a court of law, it shall not impact the body or balance of the terms and conditions.
11: Forfeiture Upon Default: In such event a bidder fails to abide by the terms and conditions set forth herein or fails to abide by the obligations arising from the purchase and sale contract executed in conjunction with
the auction, bidder acknowledges he or she may forfeit all monies deposited, at the respective seller's election. By execution of this agreement, bidder acknowledges this is a negotiated result, and the
forfeiture of said sums of money does not constitute a penalty.
12: Inspection: PERSONAL ON-SITE INSPECTION OF THE SUBJECT PROPERTY IS RECOMMENDED AND ENCOURAGED. BIDDERS ARE ADVISED TO INDEPENDENTLY VERIFY ALL INFORMATION THEY DEEM
IMPORTANT.
13: Online Bidding: United Country Jelliff Auction & Realty is providing internet bidding. Internet bidders who desire to make certain their bids are acknowledged should use the Auction Flex bidding feature allowing
them to leave their maximum bid at least 24 hours before the auction ends.
14: Agency Disclosure: The Auctioneers are acting as the Seller's Agents only. Bidder has read the Auction Terms and Conditions and by registering to bid, hereby agrees to the above terms and conditions of the
auction.
15: Rights: United Country Jelliff Auctions & Realty has the right to accept or deny bidders from attending their auctions online.
16: Contact: For pre-registration information and wire transfer routing instructions contact the United Country Jelliff Auctions & Realty, (Auctioneer) office at 570-835-4214. THANK YOU FOR YOUR INTEREST AND/OR PARTICIPATION IN THIS AUCTION
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