TERMS AND CONDITIONS 1. Buyer agrees to send proof of funds immediately upon entering into a bid. Email it to townandauction@gmail.com. 2. Auction - This is a Live Simultaneous Auction 3. Buyer's Premium - A 10% fee will be added to the final bid price to determine the contract sale price. 4. The Winning Bidder will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer. After the auction ends, the winning Bidder will receive a Contract to Purchase via email. A signed copy of the contract must be received by Town & Lake Realty & Auction on or before 6:00pm the day of sale (hand-delivered, faxed, or scanned and emailed). This is a Reserve Auction. 5. 20% of the contract purchase price will be due upon acceptance of the Sales Contract. You will have 72 hrs from the end of contract to get the online 20% to the title company. Bidding is not contingent upon financing. The remaining balance of the purchase price will be due at closing. 6. Closing shall occur within 30 calendar days of the auction closing. 7. Possession will be given at closing. 8. Real estate taxes will be prorated up to the closing date. 9. Under no circumstances shall the Bidder have any claim against Town & Lake Realty & Auction or anyone else if the Internet service fails to work correctly before or during the auction. 10. The information is believed to be accurate; however, no liability is assumed for its accuracy, errors, or omissions. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to this property. The real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please conduct all inspections and arrange financing prior to the end of bidding. I agree that I have read and understand all terms and conditions.