1. This Auction is considered to be held in the state of Florida and Florida law shall apply.
2. SW Florida Real Estate Experts is the Real Estate Broker conducting this auction and operates as a Transaction Broker in the state of Florida.
3. You must be of legal age to to bid on this auction and enter into a contract to purchase real estate. If you're in doubt about the legal age to enter into a contract, please consult with competent legal counsel before bidding.
4. All bidders must register on the auction site and provide Proof of Funds to seller at time of registration. Acceptable Proof of Funds shall consist of a bank or securities statement in an amount equal or greater than the bid amount. Email Proof fo Funds to email@example.com
5. All bids are placed in US Dollars.
6. Highest bid is subject to seller approval.
7. Seller reserves the right to postpone or cancel this auction at any time for any reason.
8. If a previous bidder is out bid by a current bidder, the previous bidder(s) will receive an email notice to allow an increase in their bid, if they so desire.
9. All bidding will be open and all bidders will have access to the bid history during the auction.
10. As the auction nears the ending time it will auto-extend until bidding is silent for 2 minutes.
11. All bids are irrevocable by the bidder. This property will be sold to the highest bidder subject to seller confirmation.
12. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
13. The high bidder will be notified via email after the auction ends.
14. This is a cash sale and not contingent upon financing.
15. A 2% buyer premium will be added to the accepted high bid and paid by the buyer at closing.
16. Each bidder acknowledges it is their responsibility to inspect the property prior to placing a bid in order to determine its suitability for their intended use. No inspection contingency will be considered in any Purchase Agreement for the auction property. Sale is “as-is”, "where-is". Seller will not fix anything
17. Real Estate Broker shall immediately contact the winning bidder upon conclusion of the auction. The winning bidder then becomes the Buyer and if no Buyer Agent has previously registered the Buyer, the Real Estate Broker shall become the Buyer Agent. Upon such notification, Buyer agrees to promptly enter into a standard Florida Residential Real Estate As Is Purchase Agreement, to include the following terms. A good faith deposit equal to 10% of the Purchase Price shall be electronicaly delivered to the Florida licensed escrow agent of Seller's choice, within 3 days from the effective date of the Purchase Agreement, and shall be applied towards the Purchase Price paid at closing. Buyer agrees to provide Proof of Funds acceptable to seller. The balance of the purchase price shall be paid at closing within 30 days from the effective date of the Purchase Agreement. Buyer shall be responsible for any expense related to financing the purchase. Seller shall be responsibe for the payment of deed recordation fees, title insurance and the cost of a title search related to the purchase of the property. All costs that relate to time periods such as real estate taxes, condo fees, assessments shall be be prorated as of the day of closing.
18. Buyer Agent and Referral Agent participation is invited. A Buyer Agent shall be a Florida licensed real estate agent who has registered their customer, in writing, on a form approved by Real Estate Broker prior to customer's initial auction registration. At closing, the Buyer Agent shall be paid the amount offered in MLS as the Buyer Agent/Transaction Broker Compensation and The Real Estate Broker shall be paid the Buyer Premium collected from the Buyer at closing. A Referral Fee will be paid to licensed real estate agents equal to 25% of the Buyer Brokercompensation offered in MLS provided referring agent has registered their customer as describe above.
19. A registration file of all bidders will be maintained by Real Estate Broker. No Buyer Broker Or Referral Broker will be recognized for a bidder that has previously registered on this auction site, or contacted or has been contacted by the Seller or their agents. Compensation will only be paid upon closing. There can be NO EXCEPTIONS to this policy and no oral registrations will be accepted.