TERMS & CONDITIONS
REBIDSALES INC. PROPERTY OFFERING
98.46 or 393.84 acres Samuel Love League A-59 MATAGORDA County, TEXAS 77457
Procedure: The property will be offered for sale via the BidSales process with online bidding. Online Bidding will end on December 15th, and auction will conclude with live bids to be completed on or before December 16, 2016 at 1pm CST on location in Matagorda.
Earnest Money: 10% of High Bid Price is due immediately from successful bidder. This amount will be held as earnest money by the appointed Title Company. Remaining balance of Total Contract Price (High Bid Price plus Buyer’s Premium) is due at closing.
Bid Acceptance: Property is being sold ABSOLUTE, WITHOUT reserve. Successful Bidder shall immediately sign Purchase Contract to be presented to Seller. Property is being sold with NO contingencies. Obtaining financing is the sole responsibility of the Buyer and contract is NOT contingent upon financing or any other contingencies.
Buyers Premium: A Buyer’s Premium, totaling 10% of High Bid Price, is due upon acceptance of bid and added to the High Bid Price payable to Real Estate Bid Sales Inc. at closing.
Closing: Closing shall take place on or before December 30, 2016
Possession: Possession shall be given to buyer at closing and funding.
Title: Seller shall furnish title according to exceptions listed in contract and title insurance policy at closing.
Taxes: Taxes payable for current year shall be prorated at closing.
Agency: Real Estate Bid Sales, INC, and its representatives are listing agents of the Seller, and reserve the right to represent both Seller and Buyer in this transaction, or act as intermediary.
Cooperative Brokers who represent the Buyer will be paid a commission at closing.
Property Condition & Inspection: Property is being sold “as is, where is”, and buyer accepts property in its current condition with all faults or conditions and seller, seller’s agents or representatives, RE BID Sales Inc. or agents make no representation as to the condition or suitability of the property for any purpose. Buyers are encouraged to inspect property prior to submission of bid. Buyers assume risk of doing so. Applicable documents, if in Seller’s possession, will be made available to Buyer.
Additional Items:
Acceptance of terms and conditions by buyer.
________________________________________________
Buyer Date
Buyer ______is or ________is not represented by a buyer’s broker/agent.
Co Broker Company/Name:______________________________
Co Broker Address_____________________________________
Co Broker email _______________________________________
Co Broker phone _______________________________________
Co Broker license number ________________________________