Terms and Conditions:
2331 UNDERWOOD ROAD LA PORTE TEXAS 77571
Registration for the auction confirms your agreement to these terms and conditions of sale and the terms of the Contract for Sale and its Addenda (the ‘Contract’) which are incorporated by reference into your bidding. DO NOT BID unless you have registered, received a Bidder’s Card and Sale Day Notes and have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming a high bidder.
All properties are sold “AS IS, WHERE IS” with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder’s behalf. Read the Contract and Sale Day Notes to determine the existence of any disclosures, exclusions, representations and disclaimers. Do not bid if you have not inspected the property(s). By bidding you agree to all disclosures.
Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing on the property will only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in Disclosures). Current year’s taxes are pro-rated through day of closing as customary.
A Buyer’s Premium of 4% ($2,500 minimum) will be added to the high bids and included in the total purchase price.
Each high bidder must make a 10% non-refundable deposit per property ($2,500 MINIMUM - whichever is greater) immediately following auction. Cash, cashier’s checks, and personal checks (electronically processed) are accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. The balance of the purchase price and all closing costs are due at closing, which shall occur within thirty (30) days of the offer acceptance date. Closing costs will include title exam, title policy, closing fee, filing costs and any other fees noted. If for any reason Seller does not perform or accept the terms of the Contract, the sole remedy shall be the return of Buyer’s deposit.
If you plan to bid online through Auction Network you must place a bid deposit with Williams and Williams.The bid deposit for the car washes is $100,000; Commercial lot adjacent to the car wash and residential lots is $25,000. Your bid deposit must be received via wire transfer by 12pm CDT on Thursday April 26, 2012. You will not be permitted to bid online if your bid deposit is not received prior to this deadline. Please contact Drew Ary at 1-918-720-3171 to make wiring arrangements. In the event you are not the high bidder, your Bid Deposit will be refunded in total within 48 hours of conclusion of the auction (excluding weekends and holidays), without interest. Please see Property Information Packet for additional information.
Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding usually takes less than 3 minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders as specified in 21 NCAC 4B. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer’s attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.
Your inspection of the property(ies) and attendance at this auction are at your own risk. Broker and Seller, their agents and employees, expressly disclaim any “invitee” relationship and shall not be liable to any person for damage to their person or property while in, on or about these properties, nor shall they be liable for any defects, dangers or conditions on the property(ies). All persons enter the property(ies) and attend the auction at their own risk and shall defend, indemnify, and hold harmless Broker and Seller, their agents and employees, from any and all liability attendant thereto.
Properties offered for sale at auction under the “ABSOLUTE” or “WITHOUT RESERVE” designations are being offered for sale without reserve (i.e.) for the high bid price in each instance and are not subject to subsequent approval by any third party. Other auctions are subject to court or seller approval unless otherwise provided in the Contract and Sale Day Notes. Buyers are not allowed possession until Closing and filing of the deed, at which time the property should be re-keyed. If for any reason the Seller is unable to transfer the property, the Down Payment shall be returned in its entirety to the high bidder. “Showing” requests from Buyers after the auction may not be able to be accommodated.
If more than one property, the Auctioneer may choose to offer a group of the properties for auction at the same time. The price being called for and bid is for any one property only. This is called “BUYER’S CHOICE” and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. 2nd high bidders do not win a right to choose. Anyone may bid at any time, including prior High Bidders. Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the Contract and Sale Day Notes for a full and complete understanding of Williams & Williams and Seller’s disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.
Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the Contract and Sale Day Notes for a full and complete understanding of Williams & Williams and Seller’s disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.