Terms and Conditions

GENERAL TERMS AND CONDITIONS 

The auction is not contingent on or subject to financing, appraisal, survey, or inspections of any kind.  All property sells as is, where is, with all faults, in its current and present condition. Seller reserves the right to add or delete property, reject any bid, unless selling Absolute, accept an offer prior to the auction and/or cancel the sale.  Announcements made prior to the auction will take precedence over any other previous written or verbal communication. Information is subject to change.  

REGISTRATION

In order to better serve our customers, all bidders must provide a copy of their driver’s licence, their name, address, daytime phone number and email address at which they can be contacted.  This is to ensure good communication between Kimsey Realty & Auction and the bidder throughout the transactions. Kimsey Realty & Auction reserves the right to preclude any person from bidding if there is any question as to the person’s credentials, mental fitness, etc.

AGENCY

Kimsey Realty & Auction, auctioneer/broker is acting exclusively as an agent for the seller.

BUYER’S PREMIUM

A 10% buyer’s premium will be added to the high bid.  For example: On $10,000, a 10% buyer’s premium of $1,000 will be added to arrive at the total purchase price of $11,000.

FINANCING/CONSIDERATION

This auction is a cash sale not contingent on or subject to financing, appraisal, survey or inspections of any kind.  Any buyer not closing within the contractual time period to close or any extension thereof, will forfeit the earnest money deposit.  However, financing is allowed.  Seller and auction company agree to cooperate with any lending institutions to help facilitate the closing.

TERMS FOR LIVE AUCTION

Doors open 2 hours prior to event. Bidders will register in person.  Successful bidder shall sign a purchase agreement, terms of sale and auction announcements immediately upon the conclusion of the auction.  Successful bidder will submit a 10% non-refundable deposit on sale day by cash, a good company or personal check or cashier’s check to closing attorney for that property. The balance is due at closing in 30 days.  Seller only reserves the right to extend closing for an additional 30 days if necessary. A copy of the purchase contract may be reviewed prior to bidding by contacting the auction company.

TERMS FOR ONLINE BIDDING
(IF APPLICABLE)

Online registration will need to be completed.  The successful online bidder will be notified immediately following the closing of the auction and will be issued a purchase agreement. The signed purchase agreement, terms of sale and sale announcements shall be submitted per the instructions received with the contract. Within 24 hours or one business day, the successful bidder shall wire transfer a 10% non-refundable deposit to the provided closing attorney.  The balance is due at closing in 30 days. Seller only reserves the right to extend the closing an additional 30 days if necessary. A copy of the purchase contract may be reviewed prior to bidding by contacting the auction company.

TERMS FOR PHONE/ABSENTEE BIDDING 

Email registration will need to be completed.  Successful bidder agrees to provide a copy of their driver’s license, and sign the purchase agreement, terms of sale, and auction announcements immediately upon conclusion of sale. Within 24 hours or one business day, the successful bidder shall wire transfer a 10% non-refundable deposit to the provided closing attorney.  The balance is due at closing in 30 days. Seller only reserves the right to extend the closing an additional 30 days if necessary. A copy of the purchase contract may be reviewed prior to bidding by contacting the auction company.

CLOSING ATTORNEY DETAILS 

Purchaser will pay closing fees including, but not limited to, deed preparation, recording fees, title examination, documentary stamps and/or transfer tax.  Taxes and HOA/POA fees will be prorated as of the date of closing. Title insurance may be acquired at purchaser’s expense. For deed type on individual properties, questions regarding closings, closing fees or contracts, contact auction company at 828-524-3500. 

DISCLAIMER

All property sells “AS IS, WHERE IS” with all its faults in its current and present condition.  Property is subject to all applicable easements, leases, restrictions, covenants, conditions, HOA/POA documents and all other matters of record as well as applicable land use laws and ordinances.  Information contained herein was obtained from sources deemed reliable however, no warranty of any nature is expressed or implied, other than good title. Buyer acknowledges that buyer is not relying on physical condition of the property, any improvements located thereon, environmental condition, wetlands or its suitability for any particular purpose or merchantability.  Bidders should carefully verify all information and make their own decisions as to the accuracy thereof. It is assumed that the purchaser has inspected the property prior to bidding and that it is suitable for his/her purposes before submitting their bid. Announcements made prior to the auction/sale will take precedence over any other previous written or verbal communication.  

BIDDING

The auctioneer shall make the sole and final decision as to the winning high bid amount.  The auction company shall not be held responsible for any ‘missed’ bids. By bidding on any item, the bidder shows acceptance of the terms of the auction and your bid becomes a legally binding offer to purchase the property being auctioned.