Terms of Sale:
Thank you for participating this Williams & Williams (“Auctioneer”) Auction. The auction and conveyance of each property shall be governed by, and your registration (online and/or in person) evidences your agreement with, the Contract for Sale at Auction, including all addenda, exhibits, disclosures, and other required documents (together, the “Contract for Sale”) and the Sale Day Notes, Auctioneer disclosures, and these Terms of Sale. Each of these documents govern your bid and the sale of the property. The Terms of Sale are non-negotiable and irrevocable. Good luck and good bidding!
All bidders must complete the registration process. In addition, the high bidder will be required to pay a Williams & Williams Technology Fee of $199 at closing. By bidding you are representing to the Auctioneer and the seller 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 Contract for Sale, Sale Day Notes, Disclosures, and these auction Terms of Sale as they are enforceable against you.
AUCTIONEER POWERS & AUCTION PROCESS. Bidding starts at the identified nominal Opening Bid(s) and is open to the public. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/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, to accept or reject any or all bids, and to cancel or re-schedule an auction. 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 three (3) minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer, and the Auctioneer reserves the right to enter bids on behalf of absentee bidders. 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.
SUBJECT TO SELLER ACCEPTANCE. All auctions are subject to court or seller approval. Most sales are approved within fourteen (14) days. 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 court or Seller approval is not granted, 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.
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. Cash, cashier's checks, personal checks and business 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. Once the Seller approves the Sale, the down payment will be credited to the purchase price. The balance of the purchase price, Buyer’s Premium (Buyer’s Fee), all closing costs, and the Technology Fee are due at closing. Closing costs generally total approximately $1,500 and include title exam, title policy, closing fee, filing costs and any other fees noted. Down payments will not be forwarded to a title company, or other party, for closing until Auctioneer's financial institution has received notice of "good, cleared funds" for the deposit.
BUYER’S PREMIUM (BUYER”S FEE). An Auction Services Fee of $3,000 OR a Buyer's Premium (Buyer's Fee in WI) of 5% ($2,500 minimum) will be added to the high bid and included in the total purchase price. Please see the Sale Day Notes, the Contract for Sale, and/or the Auctioneer for specifics about the fee associated with the property with which you are bidding.
BID DEPOSIT REQUIREMENT & AMOUNT FOR ONLINE BIDDING. Auctioneer requires a bid deposit for each bidder participating on-line in an auction. In most instances, the minimum bid deposit shall be $2,500.00 per Event and grants the bidder the right to participate in up to ten (10) property auctions in a single Event. Each on-line bidder shall have to pay an additional amount to participate in more than ten (10) property auctions or a property auction occurring in a different Event. Bidders must use one (1) credit card for the bid deposit for a single Event. An “Event” is comprised of single or multiple properties presented for auction by Auctioneer on the Auction Network on-line platform on a single day. The specific properties and number of properties comprising an “Event” and the amount of the Bid Deposit per Property and/or per Event are determined by Auctioneer in its sole and absolute discretion and are subject to change without notice. Please see the below table for bid deposit amounts and corresponding auction participation limits.
|Number of Properties
||Bid Deposit Amount
|1 - 10
|11 - 20
|21 - 30
|31 - 40
BID DEPOSIT PROCESS FOR ONLINE BIDDING. As part of the Event registration process, each on-line bidder shall be required to select the property or properties on which they desire to bid and provide a valid credit card with limits in excess of the required bid deposit amount. Auctioneer shall place a hold on the bidder’s credit card presented during the registration process in an amount equal to the required bid deposit. The bidder, by registering for the Event and presenting a valid credit card for the bid deposit, authorizes Auctioneer to place a hold in the amount of the required bid deposit. If the bidder IS NOT declared the high bidder for any of the properties selected during registration, Auctioneer will cancel the hold placed on the bidder’s credit card within two (2) business days. Please keep in mind that your funds will not be available until your credit card issuer processes the hold cancellation. Please contact your credit card issuer for more information regarding credit card holds and the time limits associated therewith. If the bidder is declared the high bidder for any property, the bidder must satisfy the requirements set forth in the auction Terms of Sale and the Contract for Sale, including, without limitation, executing and returning the required Contract for Sale and the required down payment within forty-eights (48) hours of the conclusion of the auction. Auctioneer shall cancel the hold on the bidder’s credit card within two (2) business days of receipt of the required Contract for Sale and clearance of the down payment funds.
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 Auctioneer liquidated damages in an amount equal to the bid deposit held on bidder’s credit card at the time of registration (regardless of whether the bidder actually processed the bid deposit). The bidder hereby authorizes Auctioneer to charge the credit card used to register for the Event in the amount of the hold to satisfy all or part of the liquidated damages owed to Auctioneer by bidder. BIDDER AGREES THAT IT IS EXTREMELY DIFFICULT OR IMPOSSIBLE OR IMPRACTICAL TO ACCURATELY ESTIMATE THE AMOUNT OR EXTENT OF AUCTIONEER’S 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.
AS IS, WHERE IS SALE. All properties are sold "AS IS, WHERE IS" with no financing, inspection, or other contingencies to sale. Auctioneer 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 Auctioneer. Failure of a bidder to be fully informed on the condition of a property will not constitute grounds for a claim adjustment or to cancel the sale. 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, the Auctioneer 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.
INSURABLE TITLE. Unless otherwise disclosed, bidder will receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract for Sale (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quitclaim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.
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 submitting a bid.
CONTRACT FOR SALE DEFAULT. If the high bidder executes the Contract for Sale and other required documents and tenders 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.
BUYER’S CHOICE. If more than one property is being auctioned, the Auctioneer may choose to offer a group of the properties for auction at the same time. 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. Anyone may bid at any time, including prior high bidders.
ASSUMPTION OF RISK. YOUR INSPECTION OF THE PROPERTY(IES) AND ATTENDANCE AT THIS AUCTION ARE AT YOUR OWN RISK. AUCTIONEER, 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) AND ATTEND THE AUCTION 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. AUCTIONEER 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 AUCTIONEER AND SELLER'S DISCLAIMERS. SELLER AND AUCTIONEER 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. 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.
TERMS & CONDITIONS OF SERVICE
Williams & Williams serves as the auctioneer, and represents the owner of the property at auction. The auction and conveyance of each property shall be governed by property specific Contract for Sale, Auction Day Notes, Disclosures, and the Williams & Williams Terms & Conditions of Sale. These documents govern your bid and the sale of each property, and can be accessed and reviewed at the Williams & Williams property specific web page.
DO NOT BID unless you have read the Williams & Williams Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, and the Auction Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.
Auction Network, Williams & Williams and the Seller are not responsible for technical difficulties during online or remote bidding. Occasionally, the Auction Network online bidding interface may be unable to submit bids in the live auction due technical difficulties including, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 1 day prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf.
In the event of any conflict between Auction Network's Terms & Conditions of Service and the Williams & Williams Terms & Conditions of Sale, the Williams & Williams Terms & Conditions of Sale shall control in each instance.
Auction Network has no authority to, and does not provide, any guarantee, warranty, or covenant, of any kind or nature, regarding a property. Per the Williams & Williams Terms & Conditions of Sale, all properties auctioned are otherwise sold "AS-IS, WHEREIS" without any representation or warranty, express or implied, of any kind by Williams & Williams, Auction Network, or the respective seller, and with no financing, inspection or other contingencies to sale. Buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Williams & Williams. Failure of a Buyer to be fully informed on the condition of a property will not constitute grounds for any claim adjustment or right to cancel sale.
Neither Auction Network nor Williams & Williams assumes any risk, liability or responsibility for the authenticity of the authorship of any property or livestock offered at this auction (that is, the identity of the creator or the period, culture, source or origin, or lineage, as the case may be, with which the creation of any property is identified).
The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.
Any property may be withdrawn by Auction Network or Williams & Williams at any time before the actual sale without any liability therefore. If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he or she may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, he or she decides that any advance thereafter is insufficient, he or she may reject such advance.
These Auction Network Terms & Conditions of Service, Terms & Conditions of Use, Williams & Williams' Terms & Conditions of Sale, as well as the online buyer's rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of Oklahoma. By bidding at this auction, whether in person or by agent, order bid, telephone, online, or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the state and federal courts sitting in the State of Oklahoma.
You are registering to bid on the following properties, and as stated above, your bid, and the sale of the property, will be governed by the property specific Williams & Williams Contract for Sale, Disclosures, Auction Day Notes, and Terms & Conditions of Sale. Each of these documents are available for your review at the Williams & Williams property specific web page. DO NOT BID unless and until you review these documents. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.