REAL ESTATE AUCTION TERMS AND CONDITIONS
1. Buyer acknowledges receiving this written notice before any Contract for Auction and Purchase has been signed. Certified checks, Cashier's checks, or irrevocable Letter of Credit with satisfactory identification are acceptable today. Any personal checks or other negotiable instrument must be approved by the Auctioneer before the Auction. Buyer pays all closing costs.
2. To secure a bidder’s number for the real estate auction any bidder must bring cash or a cashier’s check made payable to Feagle and Feagle escrow in the amount of $2500.00 on the day of the auction. a Advance deposit of the winning bidder is non-refundable, at closing it will become a part of the purchase price. The winning bidder, immediately following their becoming the winning bidder, shall complete a purchase agreement for their bid amount plus 5% buyer's premium . The remainder of the 10% down payment will be due within ten days of the auction.
3. Closing will be on or before 45 days from date of signed contract by the Seller, or as indicated on contract. Feagle and Feagle P.A., will handle closing & Title Insurance. Winning bidder will forfeit full deposit if they fail to close. Delay may occur due to normal day-to-day business circumstances of Title Co., this does not constitute default by Seller.
4. Buyer will receive a General Warranty Deed
5. Property is being sold "as is" and in every way, Buyer shall rely ENTIRELY on their OWN information and inspections. Seller will pay Broker Commission and Prorated Taxes. Buyer to pay all other closing fees.
6. If you become the winning bidder of a Property, hold up your bidder's number, or shout it aloud to the clerk.
7. The Auctioneer reserves the right to accept bids in any increment he feels is in the best interest the Seller.
8. The Auctioneer reserves the right to reject the bidding of any person whose conduct, actions, or adverse comments he feels are not in the best interest of the Seller.
9. When the winning bidder of each unit is determined, the "Back Up” bidder (person who made the last bid before the winning bid) will also be recorded. Therefore, if the winning bidder, for any reason, fails to close, the sale will revert to the "Back Up" bidder at his last bid.
10. In the event of a tie bid (two people believe they were the winning bidder) the Auctioneer will reopen the bidding between these two people only...first giving the person whose bid the Auctioneer did NOT see, a chance to raise the bid, then allowing the other a chance to raise the bid, etc.
11. This Real Estate is to be sold subject to seller approval.
All announcements from the Auction Block will take precedence over any printed
matter. Oral statements by Auctioneer or Seller do not constitute a warranty of
any type. Bidder shall make no claim against the Auctioneers. Controversy or
claim against Seller or Auctioneers will take place in
Agency Disclosure –Brewer Auction & Realty is by this document giving
notice to the Buyer that it is a transactional broker. The Buyer acknowledges
that this written notice was received before the Buyer signed a contractual
offer or lease agreement, in compliance with §475.25(1)(q),
Florida Statutes, and Rule 21V-10.033, Florida Administrative Code.
Compensation (if applicable) - The Buyer acknowledges that Brewer Auction & Realty
is a transactional broker & is being paid by the Seller. Pursuant to Rule 2-13.003(2),
Radon Gas - Notice to Prospective Purchaser/Tenant - Radon is a naturally
occurring radioactive gas that, when it has accumulated in a building in
sufficient quantities, may present health risks to persons who are exposed to it
over time. Levels of radon that exceed federal and state guidelines have been
found in buildings in
15. By registering at this Auction, you have entered into a contract and agree to these and all other Terms and Conditions.
Buyer may conduct a risk assessment or inspection for the presence of
lead-based paint and/or lead-based paint hazards prior to Auction. Buyer waives
this opportunity on Auction day. This Auction is being conducted by Brewer
Auction & Realty, Roy Brewer-Licensed Broker/
17. Broker participation through Brewer Auction &Realty, to be eligible, participating realtors must register their bidders at least 48 hours prior to the auction.