1. To bid on a listing, you must be of legal age to enter into a contract to purchase real estate (18 in most states, 21 in others). If you are in doubt about the legal age to enter into a contract in your state, please consult with competent legal counsel before bidding.
2. While the auction is "active", all bids MUST be placed online.  Written offers will not be accepted.
3. All bids are placed in US Dollars.
4. Winning bid is subject to seller approval.
5. If you are outbid by another bidder, you will receive an email notice so you may return and increase your bid if you so desire.
6. Bidding is open and everyone will have access to the bid history during the bidding period.
7. As the bidding period nears the ending time it will auto-extend until bidding is silent for 2 minutes. This eliminates the possibility of "sniping".
8. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
9. The high bidder will be notified via email after the auction ends.
10. Sale is “as-is”, "where-is", no contingencies. Any inspections, reports, tests, financing approvals etc. must be completed prior to the end of the bidding period.
11. Within 1 day of auction close, winning bidder will be asked to provide loan pre-approval or show proof of funds and execute a sales contract for the winning bid amount plus buyer's premium and provide $1,000.00 earnest money check made payable to and held at Lawyers Title, based on the terms described here.
12. Closing will take place at Lawyers Title company and must be closed within 30 days of signing the contract.
13. Winning bidder will be responsible for the Title Policy.
14. Seller will/has provide(d) clear title as evidenced by the Title Commitment provided on this listing.
15. There is a 1% (minimum $500.00) bidder default charge that will be debited from your credit card should you be high bidder and not fulfil the terms of this agreement.
16. Buyer's Agency commission of 2% is being offered to Texas Licensed real estate agents.
17. Seller reserves the right to postpone or cancel this auction at any time for any reason.
18. All bids will be presented to the seller at the time the bid comes in or as soon as possible.  At the seller's discretion, he/she may accept the bid/offer and close the bidding.  At that time the contract will be executed between that bidder and the seller and the bidding process may close or continue listed as "under contract" or "pending" on that property.  Any bids made after acceptance of an offer may be accepted as "back up" offers unless the pending contract contains a contingency for sale of other home.  In that case the "knock out" clause in the pending contract shall be exercised in accordance with the contract.
19. Seller will include the following personal property in the sale: None
20. Seller will exclude the following real property from the sale: None

NOTE:  When you bid on a property you agree to abide by the terms of the bidding agreements and conditions as stated herein.  This constitutes a legal and binding contract and is subjet to the laws of the state of Texas.  If you do not intend to fulfil the purchase of the property, PLEASE DO NOT BID! The bidder default charge will be debited immediately upon failure to fulfill the terms and conditions as agreed.  By bidding on this property you signify that you have read and agree to all the terms and conditions as set forth.  TEXASHomeBids.com reserves the right to amend these terms as necessary at any time.