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:
This 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. Due diligence is the responsibility of the bidder/buyer. Seller reserves the right to add or delete property, reject any bid unless selling Absolute, accept an offer prior to 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.

AGENCY:
Kimsey Realty & Auction, auctioneer/broker, is acting exclusively as agent for the seller. NCAL 8704

REGISTRATION:
In order to better serve our customers, all bidders must provide 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 any 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.

BUYER’S PREMIUM:
A buyer’s premium will be added to the high bid. For example: On $10,000, a 10% buyer’s premium of $1,000 would 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. 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 on auction day. 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 non-refundable deposit (amount to be determined for each sale) 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. Any buyer not closing within the contractual time period to close or any extension thereof will forfeit the deposit. A copy of the purchase contract may be reviewed prior to bidding by contacting the auction company.

TERMS FOR ONLINE & 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 non-refundable deposit (amount to be determined for each sale) 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 AND DETAILS:
Contact auction company for closing attorney details. Purchaser will pay closing fee including, but not limited to, deed preparation, recording fee, title examination, documentary stamps and/or transfer tax. Taxes and HOA/POA fees will be prorated as of date of closing. Title insurance may be acquired at the purchaser’s expense. For deed type on individual properties, questions regarding closings, closing fee or contracts, contact auction company at 828-524-3500.

DISCLAIMER:
All property sells “as is, where is” with all faults in its current and present condition. Property is subject to all 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 any representations, statements, guarantees or warranties of any kind including, without limitation, the physical condition of the property, any improvements located thereon, soil condition, enviornmental 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.

PROPERTY & CLOSING SPECIFICS FOR SAPPHIRE RIDGE PROPERTY:
Closings will be done by attorney Kim Coward, Cashiers North Carolina. Closing fee including title exam will be $950 per Lot. $150 for each additional Lot should buyer purchase multiple Lots. Closing will be scheduled for November 19th.
Annual HOA Fee $1200, Annual Amenities fee $850.