SERIOUS BIDDERS ONLY. All bids are a legally binding to the New Braunfels Auction Company, LLC. Please inspect, or have a representative inspect, the property for your use and utility as all sales are final. If you have any questions, please feel free to call 830-358-7225. There will be a 10% buyer's premium added to the final bid on the real estate. We will require $5,000 down within 24 hour as non-refundable earnest money if you are the successful bidder. Balance due at closing in 30 to 45 days later.
To purchase this business will be figure that represents the value of the building and a separate value for the current fixtures and equipment.
To enable bidding, a bank statement or letter of credit must be presented to the auction company.
It is the buyers' responsibility to understand and comply the Terms and Conditions of the sale.
Per the stated Terms of Sale, this property is sold AS IS WHERE IS WITH ALL FAULTS, if any, including any building violations for the property that may apply (including but not limited to fines and penalties).
Placing a Bid:
All bids placed are Max Bids. The system will enter the next bid increment and enter your bid as a maximum bid. Exception: If the bidder enters a bid equal or above the reserve amount, then the system observes the reserve amount as the next increment.
Tied Bid:
In the case of a tie bid, precedence is given to the earliest bid.
Auction Soft Close:
If a lot receives a bid within the last 5 min. it will remain open for an additional 1 min.
" If any further bidding occurs, the extension timer will reset to 1 min.
" If no further bidding activity occurs, the lot closes when the timer runs out. Bidders are urged and cautioned not to wait until the final seconds of the auction to place bids. Bids not recognized by the auction software when the time expires will not be accepted. Note: If a bid is recognized by the auction software during the final seconds, the screen may display "00.00" in time left. It can take a few seconds for the clock to reset. The bid will trigger an extension on the lot and 5 minutes will be added. This is built into the software and is not controlled by the auctioneer.
1. Successful bidder will sign a standard Offer to Purchase form within 24 hours of the close of the auction. Offer will be a cash offer with no contingencies of any kind. 2. Earnest money shall be $5,000 and will be collected within 24 hours of the close of the auction.
These terms may be amended or adjusted for clarification prior to closing