July 18, 2009 Western North Carolina Online Auction Terms and Conditions
Synopsis:
1. Registration
You must register in order to bid at the Auction; however there is no fee to register. In order to register for the Auction, please go to
http://www.upstatebuyers.com and fill out the online Registration Form. We highly recommend that you register well in advance of July 18, 2009 to enhance your chances of being notified of any pertinent changes that may take place prior to the Auction ending day. Notwithstanding the foregoing, UpstateBuyers.com disclaims any obligation to notify you of any such changes or to provide you with any information and therefore strongly recommend that you check the Web site regularly to obtain such information with respect to all Properties that you are interested in purchasing.
Buyer’s Premium. There is a 1% buyer’s premium in this auction. This fee is used to cover auction administration and online bidding services. This fee is added to the high bid amount when the purchase agreement is written
Example: High Bid amount is $500,000. The purchase agreement is written for $505,000, which is the high bid amount plus the 1% buyer’s premium.
This is an Online Only Auction
When you register to bid online you will be asked to provide a $500 credit card authorization. If you are not the High Bidder, the $500 credit card authorization shall be released as soon as reasonably possible by UpstateBuyers.com. If you are the High Bidder you will be expected to confirm by email or telephone the High Bid within ten (10) minutes of UpstateBuyers.com’s announcement of the high bid: email the High Bidder Confirmation form you will automatically receive to
support@upstatebuyers.com or telephone UpstateBuyers.com at (864) 616-8498. If you fail to do so, UpstateBuyers.com or Seller can declare the High Bidder to be in default. In such event, the High Bidder’s bid may be deemed revoked and UpstateBuyers.com and Seller shall have no liability or obligation to that Bidder. Furthermore, UpstateBuyers.com reserves the right to immediately put the Property back up for sale at the Auction.
Once you are confirmed as the High Bidder, you will be provided instruction on how to complete the Purchase Agreement and how to confirm your choice of financing. Contracts will be sent via overnight mail with prepaid return envelopes for return by July 23, 2009 or your offer may be deemed withdrawn.
Closing. All sales shall close through your closing attorney no later than thirty (30) days from Seller acceptance,unless otherwise specifically designated in the description of an individual Property. Actual scheduled closing dates will be set by the closing attorney, but will generally be no later than thirty (30) days after the date of the Auction close. Winning Bidders shall be required to pay customary and normal closing costs, including, but not limited to, assessments, lender’s tile insurance premium and fees, loan fees, document preparation fees, all documentary transfer taxes customarily paid by buyers and Homeowner’s Association fees and assessments, if applicable.