Auction Terms and Conditions, Real Estate, Personal Property
- Posted by: Myers Jackson
- Category: Community News
Auction Terms and Conditions,
Real Estate, Personal Property
GENERAL TERMS and CONDITIONS
for REAL ESTATE AUCTIONS – PERSONAL PROPETY AUCTIONS
Real Estate /Structure/Business/Personal Property will be offered at auction. Do not participate if you wish not to comply with all terms. See the attached list or listen to announcements for the order of sale and the property that will be offered from the Auctioneers location. All Participants must be registered prior to bidding.
ORDER OF SALE: REAL PROPERTY and or PERSONAL PROPERTY
Each property subject to special terms and conditions separate and to stand alone for each sale.
The method that produces the best offer to the seller will determine how this property sells. This property is selling subject to confirmation of buyers ability to pay with immediate liquid funds as announced at the final gavel call, with sellers reserving the liberty of bidding.
1-844-400-AUCTION / www.MyersJackson.com
The term “Sold” is for illustration purposes only and is not a legal definition to transfer property.
Only a valid purchase and sale agreement executed by buyer and sellers will conform the sale.
TERMS AND POSSESSION OF REAL PROEPRTY
Purchasers may only qualify to make offer subject to verifiable funded loans, cash or other approval of the seller. No offer shall be valid until the ability to purchase has been verified.
The successful Purchaser(s) will sign and return sales contract immediately after the closing of bids with seller and shall pay by, cash, cashier’s check or immediately transfer by wire the full purchase price upon execution of final agreement between purchaser and seller.
TERMS OF BUSINESS/PERSONAL PROPERTY
The successful Purchaser(s) will sign and return sales contract immediately after the closing of bids with seller and shall pay by, cash, cashier’s check or immediately transfer by wire the full purchase price upon final agreement with seller for purchase of structure, moving, transportation and setup cost. Full payment shall be remitted at the time of bid award immediately after auctioneer’s announcement.
POSSESSION for MOVABLE STRUCTURES
Possession of the property will be granted to the purchaser at bid award. Bid award will be announced only after buyers confirmation of ability to purchase with verifiable funded loan documents or cash . Buyers shall immediately take possession of the Business/Personal Property and shall be responsible for all action thereon in the disposition, removal and transportation. Buyer shall negotiate only with seller to transport property to new location. Each Structure will be subject to variable moving costs and variable sellers. Buyer will take possession prior to transport or moving agreement contracted & delivery to new location.
Individual purchases are to be considered as a single transaction not contingent upon acceptance of any other bids by the Seller. Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical in order to produce the best offer to the Seller. There may be multiple sellers with terms and conditions applying to all.
Purchaser & Seller acknowledge & agree that the only Auctioneer involved in this transaction is Myers Jackson and has acted as agent for the Seller in this transaction. Auctioneer has not acted as agent in this transaction for the Purchaser. All Contracts will be executed between Purchaser and Seller or Sellers Representative. Myers Jackson as Auctioneer or as Agent for Realty Texas Group LLC will not represent purchaser in any capacity.
AD VALOREM TAXES for PERSONAL PROPERTY
All taxes if any will be due: Payable by the purchaser as determined by taxing authority.
Sales tax is collected on personal property when required by Federal, State or Municipal Taxing Authorities. The tax is paid on the contract price. The contract price is the hammer price plus any applicable buyer’s premium. TAX is PAID on BUYERS PREMIUM.
FILM and PHOTOGRAHY
All parts of any auction may be subject to film, photography and other media. Participate will hold harmless Myers Jackson for any purpose. Myers Jackson does not represent any party for the purpose or listing, buying or selling any real estate in connection with this auction
Auctioneers, Broker and Agents disclaims all liability arising from the any circumstance prior to, during or after any sale. Auctioneers and the Seller have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. These documents are being provided without any warranty or representation, express or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness. Each Purchaser must conduct and rely solely upon its own investigation and inspection. Further, all parties acknowledge and agree that the Property is being sold “AS IS” with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for the Purchaser. Such repairs or replacements shall be the sole responsibility of Purchaser. All contracts will be presented at the close of the Auction with specific Seller instructions. Seller may remove property from the Auction during or at any time prior to the end of Auction and at the Seller’s discretion; Seller may accept the offer with the best terms. Auctioneer and/or Seller may bid or rebid on any property in tracts, combination of tracts or as a whole, defense of a bid or any bid increment vital to producing the highest and best price under the terms and condition of the Seller. Furthermore, it will be the Seller’s discretion to accept any additional increase on any posted bid by any individual tract purchase, combination, defense of bids or any upset bid during or after any bid has been posted and prior to final confirmation and reserves the liberty of bidding until the acceptance in the form of a purchase and sale agreement in writing. Any Internet bid or absentee bid may be transferred to any live Auction event and will be subject to terms and conditions of the live Auction. Furthermore, all bids shall be posted and presented accordingly as announced by the Auctioneer. Auctioneer disclaims all liability to all herein and shall be indemnified for the same.
Auctioneers Note for Accepted Procedures:
It is expressly understood that the terms and conditions set forth is authorized the sellers and the purchase and sale will be between the purchaser and sellers. Auctioneer is acting, as an agent for the seller, however shall not be responsible for any contact action between the parties. No party shall alter, use, reuse, mark, stamp or reproduce this document without the express written consent of Myers Jackson.
- Sellers may have title to Property at time of bid award, Seller’s agree to convey a marketable title to said Property by bill of sale, warranty deed, executors deed or special warranty deed subject to each case it applies for described Real Estate/Business/Personal Property and will be subject to (1) present condition of property, the property will be selling “as-is”; (2) structure maybe required to be moved from present location immediately after the bid award (3 purchaser accepts all responsibility for the cost to move, transport and relocate (4) acceptance by purchaser to remedy any present or future defect about the structure (5) present or future permits to transport (6) any permits for future use (7) the negotiation and payment for transport, relocation, set-up, impact fees, utility servicing with in transport, escorts, movers and/or construction crews. (8) Future Code Enforcement requirements (9) Permits-Taxes-Fees required of any local, state or federal agency in and for any purpose or requirement. (10) Real Property sales will be subject to closing terms set by the Seller and Broker
- Seller’s presently has title to this Property. At the time of closing, Seller’s agree to convey a marketable title to said Property by deeds as described and subject only to (1) zoning ordinances affecting said property; (2) general utility, sewer, road, and drainage easements of record; government easements, rights-of-way, covenants, restrictions, encumbrances and other matters of record, if any issued by any government agency for any use perpetual or limited by contract or deeded restrictions in all forms (3) subdivision easements, covenants and restrictions of record, if any; and (4) leases, other easements, other restrictions and encumbrances specified herein. This property is selling subject to visible easements or claims of easements not shown by the public records, shown or not shown graphically on subdivision plats or other maintained records, prescribed use easements recorded or unrecorded, boundary lines disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the premises. This Property is sold subject to all outstanding easements on said property for roads of public record or private use being granted, prescribed, leased or otherwise conveyed and easements power, electronic and telephone lines and the like and likewise subject to any cemetery or cemeteries that may now exist on this property rights of the public to use and gain access to any cemetery lying within the bounds of the land described.
- Properties may be subject to current lien holder’s approval and may be presented for short sale approval if applicable. However, no guarantee will be made by seller. Purchaser will agree to all extensions required by the seller, Financial Institutions, Federal, State and Local Courts of Jurisdiction and will accept all extensions until approval can be executed.
- Auctioneer and Sellers do not warrant or covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law. Additionally being subject to the Lead Base Disclosures for residential housing built prior to 1978 and purchaser’s hereby agrees that the inspection period has been waived.
- Subject to any tax for residential, commercial or other use, present or future. Buyer(s) accepts all responsibility of local. State, Federal or other Municipal Tax.
- Any construction plans, drawings, renderings, or contracts posted or otherwise will not be promised as part of any property offered. The Seller shall have no obligation to perform any construction work on any property advertised or otherwise after bid award. The use of any construction document is for illustration purposes only. Construction approvals and or permits may have been obtained but shall not be guaranteed. Transfer of any permit is the sole responsibility of the Purchaser. Purchaser is responsible for setup at new location.
- Seller will not grant or guarantee construction rights, permits or approval for building, remodel or setup. It will be the sole responsibility of the purchaser to obtain any and all permits or approval for assumed dwellings, structures, road construction, sewer, water or other facility requirements for habitual use. Purchase assumes all responsibilities this day forward for any alterations on or about the property.
- Subject to all conditions of soil to include all soil types including shifting, cracking, contraction, expansion or any erosion prior to or after sale.
- Subject to any septic or all other discharge connections. Water connections to public or private sources available or not available for consumption or otherwise
- Subject to all environmental hazards weather natural, man-made in the course of construction or otherwise. Including but not limited to radon gas, asbestos, lead base paint, carbon monoxide, known or unknown chemicals, mixtures, paints, or other building product or any potential reoccurring hazard. Subject to natural disasters present the day of, prior to or after auction.
- Subject to foundation shifts for soil conditions, adverse weather, product failure or other.
- Auctioneer, Brokers, Agents herby disclaim all liability from all construction, building parts that make up or are a part of any structure, foundation strapping or connections from structure to soil, soil conditions, ingress or egress into or about the property.
- Subject to all construction regulations for entry (ingress) and exit (egress) furthermore Purchaser shall be responsible for all applications to permit or other wise construct any road entrance, parking lots or parking areas, drainage or holding pond, curb requirements, utility discovery and compliance, and / or any building that may be placed within the bounds of acquired property.
- Subject to all Conditions and Restrictions unrecorded or recorded with the county clerk of court and additionally Government Easements regulated by any governing body that included Local, State, Federal Authority or other regulation that may affect the rights of the purchaser.
- Purchaser will be responsible for any clean up of debris and accepts property in the “as is” condition
- Any map or diagram now or previously provided is for reference and informational purposes only. The Auctioneer/Broker and its agents expressly disclaim any liability for alleged loss or damage in which may result from reliance upon such map(s) or diagram(s). Plats are for reference only and have been provided for the convenience of the bidders.
- All Bidders shall not rely on estimated field measurements but shall rely on their own judgment in the individual tract purchases and all Bidders are bidding on the tracts on a conceptual plat.
- Purchaser agrees that this transaction shall close no later than March 5th 2015. Any survey ordered shall not delay closing. The current Parcel Identification Number on file with each parcel may refer in part to the legal description on file less and except previous conveyed property or parcels recorded or unrecorded.
- Any additional closing fees including, but not limited to, documentary stamps, recording, financing expenses, intangible taxes, title fees, title insurance, appraisals, inspection reports, any additional legal work required by a lender will be the Purchaser’s expenses.
- Sellers Responsibility shall cease at the final gavel call as awarded then confirmed in this agreement, Purchaser shall be responsible for all terms and condition set forth in this agreement.
- Property may be subject to any association dues, fees, annual costs or other assessment as required by the covenants, additionally subject to the restrictions thereof. Purchaser may be required to pay for and assume fees in conjunction with Owner Association Requirements, and shall become the sole responsibility of the Purchaser upon acceptance of the Bid Acknowledgement and Contract for Sale of Real Property.
- Purchaser agrees that they have sought all necessary professional and and/or legal guidance prior to auction and has all terms and conditions of this agreement. Purchasers agree and affirm that prior to bidding he/she has had the opportunity to comply will all terms as set forth in this agreement including but not limited to inspections, approvals, advisement, and the inspection of all property prior to submission of this offer including the inspection all documents of record.