Terms of Sale:
Thank you for participating in this Williams & Williams Online Auction. The auction and conveyance of each property shall be governed by, and your registration (online and/or in person) evidences each bidder’s agreement with, the Contract for Sale at Auction, including all addenda, exhibits, disclosures, and other required documents (together, the “Contract for Sale”) and Sale Day Notes, Disclosures, the Auction Network, LLC Terms of Service, and these Terms of Sale. Each of these documents govern your bid and the sale of each property. The Terms of Sale are non-negotiable and irrevocable. Good luck and good bidding!
To bid on the Property, all bidders must certify they: 1. Intend to be an owner-occupant who will use the Property as the Principal Residence; 2. Are a HUD-approved non-profit; or 3. a governmental entity. If you are the high bidder at auction, you will be required to sign a certification or provide a letter on governmental entity letterhead that you meet one of the above requirements. All other bidders will not be allowed to bid or purchase the Property during the first thirty (30) days of the Property listing.
In order to bid on the Property, all bidders must have a registered account at AuctionNetwork.com and enrolled to bid on the specific Property in question. There is no fee to create an account, however a credit card is required to verify identification to bid on some properties. By bidding you are representing that you have read and agree to be bound by all terms and conditions for this sale as stated herein. DO NOT BID unless you have read and agreed to be bound by the Contract for Sale, Sale Day Notes, Disclosures, Auction Network, LLC Terms of Service, and the auction Terms of Sale as they are enforceable against you. If you fail to abide by these, you may be removed from any future auctions and have your privilege to register to bid revoked.
SUBJECT TO SELLER ACCEPTANCE. All auctions are subject to court or seller approval. High bidders are not allowed possession until filing of the deed, at which time the property should be re-keyed. "Showing" requests from high bidders after the auction may not be accommodated by the seller.
AS IS, WHERE IS SALE. All properties are sold "AS IS, WHERE IS" with no financing, inspection, or other contingencies to sale. Williams & Williams represents the seller only and does not inspect properties on bidder's behalf. Bidders must conduct their own due diligence and investigation of each property to determine the suitability of each parcel prior to placing a bid. Bidders must rely solely upon their own investigation and not any information provided by the Seller or Williams & Williams. All the information contained regarding this property was obtained from official county maps or other sources deemed reliable but is not guaranteed and may be in error. Furthermore, Williams & Williams and Seller DO NOT WARRANT the accuracy thereof. Seller has made no independent investigation of any information provided and assumes no responsibility for the providing of or absence of any information, whatsoever, or for the accuracy thereof. Read the Contract for Sale 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.
AUCTION PROCESS. Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved. The auctioneer will call the sale and control all increments of bidding. The bidding will continue for a period of three (3) to seven (7) days for each property. The auction ends at a predetermined time with an Overtime Period if necessary, which is defined as follows: if a bid is placed within three (3) minutes of the close of bidding, then another three (3) minute period commences from the time of the last bid until no bids are placed within the next three (3) minutes. The last bid shall be made final.
THE AUCTIONEER PROGRAM. The sale is controlled by the auction program. Williams & Williams is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, Williams & Williams may re-open the bidding at Williams & Williams’ sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. Williams & Williams reserves the right to group, add to, delete, withdraw, consolidate or break down properties or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids. Absentee bids may be accepted at the discretion of Williams & Williams. Any and all decisions of Williams & Williams regarding the order and conduct of the auction shall be final and absolute without liability to any party. Seller reserves the right to cancel or withdraw any property at any time.
CANCELLATION; LIQUIDATED DAMAGES. If the high bidder breaches any portion of the of these auction Terms of Sale, or the Contract for Sale and/or fails to return all executed copies of all required documents or the required down payment, the bidder’s high bid offer shall be rejected by the seller and all rights to purchase the property, if any, shall terminate with the seller having the right to offer for sale or sell the property to another without limitation, and the bidder shall pay Williams & Williams liquidated damages in an amount equal to the down payment for the Property. BIDDER AGREES THAT IT IS EXTREMELY DIFFICULT OR IMPOSSIBLE OR IMPRACTICAL TO ACCURATELY ESTIMATE THE AMOUNT OR EXTENT OF WILLIAMS & WILLIAMS’ ACTUAL INJURY OR DAMAGE RESULTING FROM A MATERIAL BREACH OF THIS AGREEMENT BY THE BIDDER, AND BASED ON THE UNCERTAINTY OF SUCH ESTIMATION, THE BIDDER AGREES THAT LIQUIDATED DAMAGES IDENTIFIED HEREIN ARE A PROPER REMEDY FOR BIDDER’S MATERIAL BREACH OF THIS AGREEMENT. THE BIDDER FURTHER AGREES THAT THE LIQUIDATED DAMAGES AMOUNT SET FORTH HEREIN CONSTITUTES A REASONABLE AND SATISFACTORY PRE-BREACH ESTIMATION OF EACH PARTY’S DAMAGES AND SHALL NOT IN ANY WAY BE CONSIDERED A PENALTY OR FOREFEITURE.
DOWN PAYMENT. Each high bidder must make a ten percent (10%) non-refundable deposit per property with a $5,000 minimum amount at the conclusion of the auction. If the minimum down payment amount exceeds the Total Purchase Price reflected on the Contract for Sale, the down payment will be modified to an amount equal to the Total Purchase Price. Please review the auction Terms of Sale, Contract for Sale, and/or Disclosures for the required Down Payment amount. Electronic wire funds, ACH Debits, and cashier's checks are the only forms of payment 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. Once the Seller approves the Sale, the down payment will be credited to the Contract. The balance of the purchase price, all closing costs, and the Technology Fee are due at closing. Buyer has the right to conduct a title exam and obtain a title policy, but at Buyer’s sole expense. Buyer is responsible for its closing fee, filing costs, and any other fees noted.
CONTRACT PROCESS. Within twenty-four (24) hours immediately following the close of the auction, Buyer will be contacted by electronic mail, telephone, or facsimile to provide documents for execution. All purchase documents will be provided to the high bidder and the high bidder will be required to sign and return all purchase documents to Williams & Williams via overnight delivery. High bidder shall have forty-eight (48) hours following the auction to return the Contract for Sale and required documents and the required down payment. Failure to return these items in the time-frame allotted shall result in the forfeiture of bidder bid deposit as liquidated damages pursuant to these Terms of Sale and the Auction Network Terms of Service. If you wish to have the purchase documents reviewed by an attorney, please contact Williams & Williams PRIOR to the auction and we will provide them to you for review so as to not delay the post auction process. You may also obtain a copy of the pertinent auction and sale documents at www.AuctionNetwork.com. The Contract for Sale and Terms of Sale are not subject to negotiation.
CONTRACT FOR SALE DEFAULT. If the high bidder executes and returns the Contract for Sale and other required documents and the down payment, but fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), the high bidder shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all down payment monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act.
NOTICE: Institutional and Fiduciary Sellers (courts, government agencies, banks and trustees) have not occupied the properties and have NO information to provide for disclosure. Properties are sold 'As Is - Where Is' and should be fully inspected prior to bidding on.
ASSUMPTION OF RISK. YOUR INSPECTION OF THE PROPERTY(IES) IS AT YOUR OWN RISK. WILLIAMS & WILLIAMS, SELLER, AND THEIR RESPECTIVE AGENTS, CONTRACTORS, 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) AT THEIR OWN RISK AND SHALL DEFEND, INDEMNIFY, AND SAVE HARMLESS BROKER AND SELLER, THEIR AGENTS, CONTRACTORS, AND EMPLOYEES FROM ANY AND ALL LIABILITY ATTENDANT THERETO.
DISCLAIMERS & NO WARRANTIES. 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 FOR SALE, AND SALE DAY NOTES FOR A FULL AND COMPLETE UNDERSTANDING OF WILLIAMS & WILLIAMS AND SELLER'S DISCLAIMERS. SELLER AND WILLIAMS & WILLIAMS HAVE NO KNOWLEDGE OF THE SUBJECT PROPERTY OR ITS FIXTURES OR CONDITION AND ARE NOT RESPONSIBLE FOR SUCH. 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.
YOU ARE ENTERING A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY, FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING ONE'S SELF OR ACTING AS AN AGENT. AN ONLINE BID ACCEPTED AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT. ANY BIDDER WHO FAILS TO CONSUMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS.