By placing a bid in person, or online, you are accepting the auction terms herein, and you are entering into a legal and binding contract between you the Bidder, and Coldwell Banker
Stiles, Christy's of Indiana, and the Seller. If you are the successful highest buyer/bidder, you agree to all the following terms:
BIDDING
All bidders must be preapproved to bid on this auction. Once registered, your status will be “Pending Status”. The auctioneer will send you an email with the following steps to become an approved bidder. Each real estate auction is unique, and approval will be required for each auction. The instructions will request you send proof of funds to Coldwell Banker Stiles. After the document(s) are received, the auctioneer will approve you to bid. Preregistering to be at the live event will speed up your registration the day of auction. Please email all proof of funds to [email protected] We can have you all ready to go for the live event before you arrive.
ALL PRE-BIDS/OFFERS ON THIS PROPERTY ARE POSTED ON THE WEBSITE.
This auction is an Online Only Event. You may register here on the website.
This auction is NOT contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration before bidding and specified
in the attached Auction Sales Contract.
RESERVE AMOUNT AUCTION
This property is being sold with a reserve. This means that the high bid will be taken to the owner of the property for approval. The highest bid may not be accepted.
AUCTION BUYER’S PREMIUM
A 10% BUYER’S PREMIUM WILL BE ADDED TO EACH SUCCESSFUL BID. All newspaper or other publications and all oral and verbal statements as to advertising made by owners of
said property, Coldwell Banker Stiles, and by Christy’s of Indiana., or any agent of said company, are hereby revoked.
TOTAL PURCHASE PRICE
All Sales are Final. The total sales price will be the highest bid price plus a 10% buyer premium. The winning bidder will be immediately charged a $2,500 administration fee upon
auction completion.
EARNEST MONEY DEPOSIT & ADMINISTRATION FEE
Upon the close of the auction, a $2,500 administration fee will be charged to the credit card placed on file when you registered to bid on the auction. This fee is 100% refundable if all
auction terms are satisfied within the first 24 hours following the close of the auction. The successful bidder will be required to deliver an earnest money deposit equal to 10% of
the final total price. This can be paid for via certified funds, or wire transfer. Personal checks will not be accepted. The purchaser shall be responsible for all wire transfer fees.
The earnest money deposit must be delivered to Coldwell Banker Stiles within 24 business hours of the auction closing. Failure to deliver the earnest money deposit subjects your bid
to be forfeited, your $2,500 administration fee to be non-refundable and the next highest bid will be contacted. Once the earnest money deposit is received, the administration fee will be refunded in full.
PURCHASE DOCUMENTATION
A purchase agreement, proof of funds, and any other relevant paperwork will be sent by email from Coldwell Banker Stiles to the successful buyer/bidder, who must execute the documents and return them to Coldwell Banker Stiles within 24 hours of receipt. Failure to deliver the purchase documentation subjects your bid to be forfeited, your $2,500
administration fee to be non-refundable and the next highest bid will be contacted. The entirety of the remaining balance is due at closing. The purchaser shall be responsible
for all closing fees as set out in the Purchase Agreement and Auction Terms.
ADDITIONAL INFORMATION
• The property is being offered subject to sale before the auction. All offers should be made as a bid on the www.Christys.com website.
• The property sells AS-IS with no warranty expressed or implied. The Purchase Agreement will reflect you wave the inspection.
• The winning bidder will be charged an administration fee of $2,500 upon auction completion. (refunded once documentation and earnest money are received)
• Down Payment of 10% must be paid by the buyer within 24 hours after the closing successful bid(s). This can be paid via certified funds or wire transfer, no personal
checks. The buyer is responsible for wire transfer fees.
• Property is being sold with NO inspections or appraisals.
• This auction will have a soft close. Any bids turned in within 2 minutes of the auction closing will extend the bidding process to reset the clock back to 2 minutes. The
auction will close after there is no bidding within 2 minutes.
• Any winning bidder(s) will be required to sign a purchase agreement within 24 hours of the close of the auction.
• Bidding increments are set by the auction company. All bidders will be required to bid according to the set increments.
• The closing date must take place within 30 days of the auction closing unless otherwise agreed to by the seller.
• Closing dates are NOT contingent upon financing.
• Any inspections, appraisals, or previews of the property must be done before the auction closing date.
• Please reference the purchase agreement for questions on taxes, waiving inspection, inspection/appraisal, closing times, earnest funds, and other information.
• Property is being sold subject to sellers’ confirmation (sells with reserve). The highest and/or best bid could be accepted by the seller.
