Auction Terms and Conditions

PLEASE READ AND REVIEW THESE TERMS THOROUGHLY PRIOR TO BIDDING.
BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND
ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING
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 (unless otherwise stated) 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

There are two ways to register. In-person on auction day or online now. If you will be bidding remotely by either phone or online, you must register in advance.

Registering online is easy and we encourage all bidders to register in advance as it will help improve your auction day experience

All bidders must provide their name, address, daytime phone number and email address at which they can be contacted.  This is to help ensure a safe auction community for all bidders and to establish good communication between Kimsey Realty & Auction and the bidder throughout the transactions.

For online bidding, we require you to register with a credit/debit card. The card information is kept confidential and is not automatically charged when you’re a successful bidder. The card is for verification purposes only to ensure we have serious bidders. 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. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their accounts.

AGENCY

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

BUYER’S PREMIUM

A buyer’s premium will be added to the all Auctions.  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. Premium percentage will vary between auctions.

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 the event. Bidders will register in advance online or in person.  The successful bidder shall sign a purchase agreement, terms of sale and auction announcements immediately upon the conclusion of the auction.  The 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 the 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 & PHONE/ABSENTEE BIDDING
(IF APPLICABLE)

All remote bidders must register online prior to auction day and will receive email instructions once your application has been reviewed. The successful bidder agrees to sign the purchase agreement, terms of sale, and auction announcements immediately upon the conclusion of a 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

The 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 the 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 a good title. Buyer acknowledges that the Buyer is not relying on the 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.

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.