Terms and Conditions
1. The auction is open to everyone to register. To bid on our property you must be of the legal age of 18 to enter into a contract to purchase real estate.
2. Bids will be accepted only from bidders that have duly registered in accordance with the terms and conditions of sale.
3. The winning bidder must sign a Real Estate Purchase Contract and deposit a down payment equal to 10% of the contract price (which is the high bid price plus the buyer’s premium) in escrow no later than 48 hours after the end of the online auction. The deposit can be wired, hand delivered or express mailed to our office.
4. The purchase contract is available for inspection and review. The terms are not negotiable upon being declared the winning bidder.
5. Bidders shall satisfy themselves as to the condition, quality, and description of the property before bidding. All information and descriptions are believed to be correct; however, no warranties or guarantees are expressed or implied.
6. All property is sold “AS IS, WHERE IS WITH ALL FAULTS.”
7. There are no pre nor post sale contingencies, including financing.
8. Selling by Deed based upon 292 acres per deed.
9. Real Estate is selling subject to all easements and restrictions recorded or unrecorded.
10. A 7% Buyers Premium will be added to the last bid to determine the contract price.
11. A 10% Down Payment Deposit is to be paid within 48 hours after winning the bid and balance due within 30 days of signing the Real Estate Purchase Contract. TIME IS OF THE ESSENCE.
12. Buyer’s down payment deposit shall be paid to: Summit Title Company. The closing of the sale of the property shall be conducted at Summit Title Company, Designed Closing Agent.
13. The closing shall be conducted by Summit Title Company, 2501 Crossings Blvd, Suite 201, Bowling Green, KY (270-782-6906). Buyer shall pay the closing fee of $300, which includes preparing closing statements and conducting the closing. Seller shall pay for deed preparation and deed transfer tax. Buyer to pay for title exam and all cost associated with Buyer’s loan if any.
14. Real Estate taxes shall be prorated between the Seller and Buy as of date of closing.
15. Possession is to be given upon delivery of deed at closing.
16. While auction is "active", all bids MUST be placed online. Written offers will not be accepted.
17. Winning bid is subject to seller approval.
18. All bids are placed in US Dollars.
19. If you are outbid by another bidder, you will receive an email notice so you can return and increase your bid if you so desire
20. As the auction nears the ending time it will auto-extend until bidding is silent for 2 minutes.
21. The bidding will be open and everyone will have access to the bid history during the auction.
22. The high bidder will be notified via email after the auction ends.
23. Seller and Auctioneer reserves the right to postpone or cancel this auction at any time for any reason.
24. The method and order of sale shall be at the sole discretion of the auctioneer. The auctioneer may change or modify the Terms and Conditions of this auction by updating online material. Any such change shall take precedence over previously printed material or oral statements made.
25. The auctioneer's decisions relative to bidding increments, order of sale and any disputes between bidders will be final.
26. Broker participation is invited and any licensed real estate broker/ agent is eligible to earn commission equal to one percent (1%) of the commission provided their client has been registered with the office of the auctioneer. The prospect must be registered in writing with RE/MAX Real Estate Executives and countersigned by the broker/agent. The registration must be received 48 hours prior to the end of auction by email or facsimile. Contact the auctioneer for a registration form. Broker/ Agent acting as principals are excluded from receiving commissions. Commission will only be paid at the successful closing of the transaction.
27. All information contained in the auction brochure, newspaper advertising, bidder information or supplied either in writing or verbally by staff members was derived from sources believed to be reliable, but not guaranteed. Buyers shall rely on their own information, judgment and inspection of the property and records.
28. Bidders are encouraged to preview the property. Please call for dates and times.