GENERAL TERMS AND CONDITIONS with Specific Terms and Conditions are made a part hereto by individual post publication or blanket announcement. (see the document section) Any bid or offer made to Myers Jackson, Real Estate Broker, Auctioneer, to include real estate agents, associate auctioneers or affiliates are subject to the statements herein this website to include the following statements below and all special terms and conditions of sale attached to the website or published in any manner for public consumption, viewing or access whether or not any person copies, downloads, prints, saves or any other action having access the same.
BUYER’S PREMIUM AND AUCTIONEERS FEES
Any potential purchaser may create an online account at https://myersjackson.bid, register for the prospective property sale. The bid placed may be used to determine the best offer subject to any other offer online or offline. If you desire you may make additional offers or bid during the process until the Auctioneer closes bidding after acceptance of a qualified offer by the seller. Bid increments shall be administered by the agent up to the close of bidding. Opening bids will be at the discretion of the Auctioneer being subject to refusal.
At bid award the buyer premium or any Auctioneers fee becomes property of the Auctioneer subject to immediate deposit. Purchasers may not restrict, hold or demand repayment after the confirmation of sale. In the event of collection procedures, the Auctioneer may use all lawful means necessary to collect and recover all costs and attorney’s fees associated with this bid offering.
BROKER PARTICIPATION COMMISSION is VARIABLE
With a duly registered buyer and/or agent of a qualified Real Estate Broker, the Buyers Broker may be paid $1000 more or less or at Listing Broker/Auctioneers option up to a 3% fee based on the initial offer with the buyer broker qualified registration subject to procuring cause rights. Any commission payment shall be subject to the full collection of the Buyer Premium paid by the buyer as described in the Specific Terms and Conditions of Sale. Brokers may only be paid 3% on a written opening bid being conditionally subject other incentive payments paid to the buyer and may be paid only if the Buyer’s Agent is the actual procuring cause and have properly submitted the correct forms, holds an exclusive buyers representation agreement and has advised the buyers of the terms and condition of sale, abiding by all announcements, procedures, or other direction without claiming any exceptions to any foregoing procedure and having all parties Buyers Broker/Agent and Buyers having completed the online registration form at MyersJackson.bid. All offers must be made through the auctioneer by order of the seller.
Broker payments shall not apply in the case that the buyer is given a discount from the buyer premium, other incentives or other discounts to reduce the required buyer payments. This section shall not apply if a buyer agent agreement exists for compensation between the buyer and the agent’s broker. In the event the Buyer receives any discount or other incentives, and the Buyers Broker holds or does not hold an exclusive buyer representation agreement the Listing Broker/Auctioneer will not pay any Buyer Broker Compensation unless an agreement between the parties have been made in writing prior to the execution of the Memorandum of Bid.
Additionally, the Buyer’s Agent shall only be paid a commission after proper offline and online registration of any represented or non-represented buyer with both the Buyer’s and the Buyer’s Broker/Agents’ full and correct information and then by completing the authorized form in writing or by completing full registration in an authorized bidding system.
BID ADMINISTRATION
Bids (Offers) shall stand as submitted being subject to bid administration by the Broker-Auctioneer. Sellers may accept bids including additional bids placed by the same bidder. Subject to acceptance of the best offer of the bidder and/or bidder’s proxy that has willfully accepted terms that includes all conditions of sale, payment of buyer premium and auctioneer fees, full payment of option money, closing costs or other costs as determined by the seller. All bids shall be an instrument to calculate the bidder’s interest to purchase property including but not limited to written offers, electronic submissions, voice, telephone, telecopier or text. Bids may or may not be administered in the order received, subject for publication in public view, any bid being subject to higher bids being placed. Seller may accept without notice and property shall be subject to sale without warning. Bid increments may be adjusted prior to or during the process of the sale. Bids (Offers) may be updated in the MyersJackson.bid online portal, Multiple Listing Services, Real Estate Indexes or other public and/or private publications.
ABSENTEE BIDDING
A qualified user may place absentee bids. Commonly referred to as left bids or proxy bids can be used in connection with MAX BIDDING. When a user leaves a max bid, this creates an offer in the maximum amount a user is willing to offer plus all other requirements of the terms and conditions. Auctioneers and Real Estate Brokers may evaluate all offers including the maximum bid placed by the user for the purpose of determining the higher offer acceptable by the seller. Competitive bids including any bid with maximum value shall be used to establish the best offer. Users may increase a maximum bid amount prior to end of sale. Absentee offers, maximum bids, written offers or otherwise that are attempted placed after expiration of time may or may not be taken into consideration.
MULTIPLE OFFER MANAGEMENT
Multiple Offer Management is a Trademark licensed to Myers Jackson America’s Auctioneer, and restricts unauthorized use thereof.
APPOINTMENTS
Purchasers may schedule an in-person appointment prior to the sale. Such appointments may be related to home inspections, surveys, ground reports, document review, or other inspections the purchaser would request. All will be at the purchaser’s expense in advance.
ELECTRONIC ACCEPTANCE OF DOCUMENTS
Purchaser accepts the transfer of documents, including but not limited to purchase and sale agreements, addendums, any amendment to contract, survey, inspection documents, terms and conditions, wire instructions or any document. Purchase and Sale agreements may be delivered through third-party time stamped facilitation services including but not limited to DocuSign, Zip Forms or comparable third-party systems to deliver and retrieve signed documents.
NON-COMPLIANCE
Participants are named successful high bidder and fail to execute the Purchase and Sale Agreement and/or remit the earnest deposit with 6 hours of the Purchase and Sale Agreement being delivered, the participant will be responsible for a Non-Compliance Fee of up to 10% of offer. This Non-Compliance Fee is a penalty for failing to abide by the Terms and Conditions of sale. Broker/Auctioneer at its discretion shall charge the credit card on file, retain deposits or use any other means necessary to collect such fees subject to attorney fees and court costs. Any bidder that fails to execute a Purchase and Sale Agreement and/or remit an earnest deposit may also be prohibited from bidding on future sale offerings. The Seller, Broker, Auctioneer, upon Non-Compliance by a bidder, reserves the right to immediately offer the property for sale. Purchaser(s) shall be made subject to deficiencies, cost to recover, attorney fees and court costs.
SUCCESSFUL BIDDER DEFAULT
A successful bidder that fails to close per the specific terms of the purchase and sale agreement for any reason shall be required to release their earnest deposits, option money and buyer’s premium as directed by the Seller as nonexclusive liquidated damages as outlined.
ADDITIONAL TERMS
The seller shall reserve all rights to remove, cancel bids, suspend bidding rights or privileges of any party at any time deemed not to be in the best interest of the seller. All items are subject to prior sale or removal from the auction. General Terms, Special Terms and Conditions shall be amendments to the purchase and sale agreement.
CLOSING
Time being of the essence, this sale shall be closed within the appointed time after acceptance offer together with acceptable commitment to produce a regulatory insured title policy subject to permitted policy exceptions and or other required exclusions. This transaction is not contingent upon financing. Buyers will be responsible for all closing costs and may select the closing officer of their choosing. All Earnest money deposits shall be placed in escrow until closing. The Purchaser will be charged 100% cost of the title insurance policy which is based on the purchase price and 100% of all other closing costs {by purchasers closing agent} per real estate transaction per property, and this fee may include the following: conducting the closing; collecting and disbursing funds at closing; title abstract; document/deed preparation, preparing a closing statement and closing attorney fee. If the Purchaser needs additional services, they may be requested or provided by the purchaser’s closing agent. Any additional closing fees including, but not limited to, escrow fees, attorney fees, documentary stamps, recording stamps, financing expenses, intangible taxes, title fees, appraisals, inspection reports, any additional legal work required by a lender including 100% of any lenders title insurance policy will be the Purchaser’s expenses. Ad Valorem Taxes will be prorated between Seller and Purchaser, as of the date of closing. Seller will not be responsible for any other closing costs or fees.
DEFAULT
Should Buyer default. Buyer shall forfeit deposits, Buyers Premium, Auctioneer Fees, option money and shall be subject to recovery of additional funds for loss, injury or collections in the process to sale, resale or otherwise recover costs including any attorney fees and court costs.
Should Seller default, Seller shall repay all costs associated with sale including Buyers Premium, Auctioneers Fees, costs associated with closing, surveys and closing costs.
POSSESSION
Possession of the real estate will be granted to the purchaser at closing and funding. Possession may be granted under separate agreement between the purchaser and seller.
INDIVIDUAL PURCHASES
Individual purchases are to be considered as a single transaction not contingent upon acceptance of any other bids by the Seller. Seller 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.
PAYMENTS
All purchases shall be subject to payments directly or indirectly as prescribed by Broker/Auctioneer. Wire transfer, cashier’s check or other verifiable liquid payment shall be issued or made readily available at the time of purchase immediately after Bid Award. Non-payment shall constitute default of the terms and conditions. Buyers may be subject to additional collection fees, including but not limited to all collection costs, attorney fees, court costs or other recovery costs associated with the sale.
REPRESENTATION
Purchaser and Seller acknowledge and agree that the only Broker/Agent/Auctioneer involved in this transaction is Myers Jackson Licensed Broker TX 0698695, Auctioneer TX TDLR 17057, as Agent for the Seller in this transaction. Broker/Auctioneer has not acted as agent in this transaction for the Purchaser. Participating Brokers may be identified in the Broker participation agreement. Information About Brokerage Services. Texas Information About Brokerage Services. Texas Real Estate Commission Consumer Protection Notice
SURVEY
If the Purchaser wishes to have a survey, the Purchaser may select the surveyor of their choice and must abide by the terms and conditions of this real estate offering. Two (2) copies of each of the certified surveys, if any, must be delivered to both the Closing Agent at least ten (10) days prior to the Closing. Purchaser will pay for all costs associated with the survey. The Auctioneer/Broker, the Closing Agent and each of their respective employees, attorneys and agents expressly disclaim any liability for alleged loss or damage which may result from reliance upon such map, plat, survey or diagram. Any such map, plat, survey or diagram is for reference only and has been provided for the convenience of the bidders. The Purchaser shall not rely on estimated field measurements but shall rely on its own due diligence and judgment. The Property shall be sold subject to: (a) visible easements or claims of easements not shown by the public records, and shown graphically on any survey, map or subdivision plats, and (b) boundary line disputes, overlaps, encroachments, and any matters not of record that would be disclosed by an accurate survey and inspection of the Property.
PROPERTIES OFFERED DIVIDED
Tract or Tracts of property may be offered divided. A larger parcel may be split into smaller parcels. These subdivided tracts may be purchased in combinations or as a whole. The purchaser shall pay for surveys or other fees associated with the divided tract. Plat maps may be conditional.
SPECIAL CONDITIONS OF THE SALE
- Seller’s presently have 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 easements of 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.
- All properties may be subject to lien holder’s approval and may be presented for short sale approval if applicable. However, no guarantee will be made by the 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. Purchaser and seller agree that the earnest money deposits shall be held in the broker’s escrow account and can be transferred upon request to the closing agent. Any earnest money deposit shall continue to be held during the course of the contract, including any extension period or time required for acceptance in conjunction with any short sale, lien holder approval, Federal, State or Local Court actions needed to assure the seller’s ability to satisfy and deliver a marketable title. In the event a final contract agreement cannot be reached between all parties, earnest money will be returned, and each party will be held harmless.
- Auctioneer/Broker, 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 or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon its own environmental audit or examination of the premises.
- This property is being sold subject to all laws federal, state or local law concerning any species that may be listed as threatened, endangered or otherwise protected as disclosed on the plat attached. It is the responsibility of the purchaser to inspect the property and the purchaser(s) shall rely on their own investigation in conjunction with the purchase of this property. Seller shall have no obligation to extend the contract-closing period and purchaser will not be granted any inspection period after the final gavel call.
- A detailed title search has not been conducted; therefore, Auctioneer/Broker, and Seller are not positive as to the status of the oil, gas and mineral rights. The Seller may, at direction, convey interest in any oil, gas, or mineral rights to the Purchaser unless stated in writing that such rights shall transfer to the Purchaser, therefore prior reservations shall stand as reserved. Furthermore, oil, gas or mineral rights previously owned, sold, conveyed or rescinded will not be conveyed to the Purchaser and such rights may be offered as a separate conveyance unrestricted to other purchasers.
- Subject to roll back taxes for residential, commercial or other use including homestead exemption. 7. Purchaser will be responsible for any clean-up of debris and accepts property in the “as is” condition. 8. 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. 9. Rights or claims of parties not in possession and not shown by the public records.
- Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Taxes or special assessments which are not shown as existing liens by the public records.
DISCLAIMER
Brokers/Auctioneer and the Sellers 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 replacement warranty or representation of condition, 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, including room sizes and square foot measurements in the entirety of any/all structures with any calculation in part or as a whole. 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 the Purchaser. All contracts will be presented at the close of the Sale with specific Seller instructions. Seller may remove property from the sale during or at any time prior to the end of sale and at the Seller’s discretion; Seller may accept the offer with the best terms. Broker/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 conditions 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. Online offers may be transferred to live auction events or vice versa being subject to terms and conditions of any sale. Furthermore, all bids shall be posted and presented accordingly as announced by the Auctioneer. Bids may be accepted without notice to any party. Seller shall have the right to enter into a purchase contract without notice.
AUCTIONEER’S NOTE FOR ACCEPTED PROCEDURES:
Broker/Auctioneer reserves the right to accept bids from all qualified bidders to include but not limited to: Live Auctions, Online Auction Platforms, Written Bids, Electronic Bids, Fax Bids, or Written offers during before or after the bidding period. If you are looking to buy this item, you are invited to make your best offer, however your offer may not be the best offer, the sellers reserve the right to evaluate all bids and make final decisions on acceptance based on all offers. Make your best offer; Auctioneers will further reserve the right to cross-reference bidders to evaluate the best offer across all bidding availability. By registration, the Auctioneer is allowed to update new information as it becomes available. A permanent bidder’s number may be issued at Myers Jackson apps or other bidding platforms. F Future notices may be received via electronics, certified or standard mail subject to privacy policy. It is further understood that this auction is subject to Film, TV and Photography and all parties hereby release Auctioneer from any and all liability without recourse. You herby authorize the use of Film and Photography with distribution rights throughout the universe without restriction. Such distribution shall not be restricted, and no claim shall be administered upon Auctioneer, Brokers or Agents thereof. All rights or Film and/or photography shall remain with Myers Jackson.
It is expressly understood that the terms and conditions set forth are authorized by 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 contract action between the parties. No party shall alter, use, reuse, mark, stamp or reproduce this document without the express written consent of Myers Jackson, these actions shall instigate default of the purchaser. Furthermore, I agree to a NON-Disclosure of bids or final offers to include the written purchase and sale agreement until such time the purchase amount is made public by legal means.
NOTICE TO CONSUMERS:
To make a complaint to the Texas Department of Licensing
Texas Department of Licensing and Regulation
920 Colorado
Austin, Texas 78701
Mailing Address:
Texas Department of Licensing and Regulation
P.O. Box 12157
Austin, Texas 78711
Telephone: (512) 463-6599
Toll-Free (in Texas) (800) 803-9202
website www.tdlr.texas.gov for purposes of directing complaints to the department.
INTENDED USE OF THIS DOCUMENT
Informational purposes only. Purchasers should not rely solely on the information present in this or other documents. Claims against will not be applicable. Auctioneers, Brokers and/or Agents disclaims all liability in connection with this sale.
I agree to all Terms & Conditions of Sale:
Bidder Signature Print Name Date
Make the offer with the use of a Buyer’s Premium
What is a buyer’s premium? For decades auctioneers have used buyer’s premiums in connection with sales subject to multiple offers, competitive bid sales and/or auctions.
A buyer’s premium is a fee in addition to other closing costs and transaction fees paid by purchaser. The amount of the buyer’s premium is addressed in the terms and conditions of sale in advance of the offer.
A prospective buyer may make an offer but must keep in mind that the offer amount is subject to the percentage of flat fee amount required to finalize the offer.
Additionally, when making the offer the buyer’s premium will affect the final out of pocket amount the buyer will need to appropriate to affect the sale. An example is set forth in the space below.
Final Bid Final Bid $100,000.00 $1,000,000.00
$ 10,000.00 Buyer’s Premium: 10% $ 100,000.00
$ 10,000.00 Amount Paid to Auctioneer $ 100,000.00
The amount of the buyer’s premium may vary from sale to sale. Reading the terms and conditions prior to the offer will be important in order to determine the final payments required. The buyer’s premium may be considered and out of pocket expense for services rendered by the Auctioneer or Agent that will administer the bidding procedures.
Auctioneers provide marketing services, sale of real property, sale of personal property, administer multiple offers in live out cry public sales and/or sales utilizing online or APP bidding platforms.
Think of the Auctioneer as a legal service provider such as a surveyor, an attorney or a home inspector. Auctioneers work on a commission basis or in some cases a flat fee basis. Check the terms and conditions for each sale.
Auctioneers may be Real Estate Brokers or Real Estate Agents in addition to an Auctioneers License. Ask the Auctioneer questions about the administration and the use of a buyer’s premium.
For a list of license disclosure, write Myers Jackson and request.
Myers Jackson America’s Auctioneer
Multiple Offer Management
844-400-2828