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SERVICES |
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Upcoming Auctions |
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Terms & Conditions |
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- Public Auction: For all Auctions (Reserve Auctions), the property is being sold at a price subject to the Seller’s confirmation. It is the Seller’s intent to sell at any reasonable price, but the Seller reserves the right to accept or reject any bid that does not equal or exceed the Seller’s minimum acceptable price.
- Inspection: The property will be shown “By Appointment” and will be open prior to the auction, and/or as scheduled by REALTOR.
- Starting Time: Please be prompt. It may only take a few minutes to Auction a property. An explanation of the Terms and Conditions of Auction will be given prior to the beginning of the Auction.
- Registration: All attendees will receive Bidder’s Information prior to or at the Auction and must register to bid by completing the appropriate Bidder’s Registration Form.
- Deposits: All Bidders must have and submit a Cashier’s Check, Money Order or Personal Check, made payable to Century Max Realty, Inc., Escrow Account in the amount of $10,000 at the time of registration, in order to be authorized to bid. Upon being the Successful Bidder, the deposit will be subject to forfeiture and applied toward the purchase price. An additional deposit, bringing the total deposits to ten percent (10%) of the purchase price, must be made by the Successful Bidder within two business days. If Bidder is not the Successful Bidder, the submitted deposit will be returned to Bidder immediately following the Auction
- Buyer Premium: There is NO Buyer Premium charged to the Buyer.
- Purchase and Sale Contract: The property will be sold “as is, where is, with all faults” without right to inspections, in accordance with the Terms and Conditions set forth in the partially completed Purchase and Sale Contract, a copy of which is available to all Bidders prior to or at the Auction. Buyer must sign a fully completed Purchase and Sale Contract, together with all required Riders and Addenda, at the time the bid is accepted. Buyer will be required to close within the time specified in the Auction Brochure and Purchase and Sale Contract.
- Documentation: A Seller’s Real Property Disclosure Statement, completed and signed by the Seller, is available to all Bidders prior to or at the Auction. Buyer MUST sign the Seller’s Real Property Disclosure Statement at the time the bid is accepted. If the property is a condominium or located in an area that is governed by a Homeowner’s Association, required Condominium or Homeowner’s Association documents and disclosures will be available to the Successful Bidder and made part of the Purchase and Sale Contract.
- Property Auction Brochure: An Auction Property Brochure, indicating pertinent information regarding the Property and Auction, is available to all Bidders prior to or at the Auction.
- Financing: The terms of purchase shall be ALL CASH to Seller at closing, unless it has been indicated on the Auction Property Brochure and/or Purchase and Sale Contract that Seller will provide financing. Sales are NOT contingent upon Buyer securing new financing or being able to assume any existing financing. Buyer may, at Buyer’s option and cost, arrange financing prior to the Auction, but must be ready and able to close within the time specified.
- Failure to Close: In the event Buyer does not close this transaction within the time specified, due to any fault of Buyer, then Buyer may be in default and may forfeit his/her earnest money deposit and any additional deposits submitted or to be submitted, and may be subject to further recourse as indicated in the standard Purchase and Sale Contract.
- Offers Prior to Auction: Offers may be made prior to the Auction Date. These offers will be accepted or rejected by the Seller, without negotiation.
- Absentee Bid: Absentee Bids will only be considered at Auction if, prior to Auction, Absentee Bidder has delivered a completed Purchase and Sale Contract, Seller’s Real Property Disclosure Statement and the Required Deposit to Listing Agent and Received a signed receipt for same.
- List of Bidders: A list of Bidders’ names will NOT be provided to any bidder at any time prior to, at, or after the Auction.
- Broker Participation: A fee, equal to 3% of the bid price, will be paid to the Licensed Real Estate Broker whose prospect successfully bids and closes on the Property, provided that the Licensed Broker/Salesperson accompanies the Prospect to the Auction and registers as the Cooperating Broker/Salesperson or Buyer’s Broker (with Prospect acknowledgement) on the Bidder’s Registration Form at the time the bid is submitted. A business card must also be submitted. No pre-registration of Prospects and no Absentee Bids will be accepted from Cooperating Brokers/Salespeople or Buyer Brokers. Brokers/Salespeople acting as principals must also disclose this fact on the Bidder’s Registration Form at the time the bid is submitted.
- Equal Opportunity: Bidding is open to the public. The Property is available to qualified Purchasers without regard to a prospective Purchaser’s race, color, religion, sex, familial status, national origin, or physical handicap.
- Antitrust Laws: Federal Antitrust Laws prohibit collusion among Bidders in restraint of interstate commerce. The penalties for violating the federal antitrust laws include criminal fines, imprisonment, injunctions, compensatory damages and attorneys fees. Collusion between Bidders to refrain from bidding at an Auction or to limit the prices bid for the Auction Property is strictly prohibited.
- Announcements: Any announcements made or information provided at the Auction will take precedence over any printed material or oral statements made prior to the Auction.
- Decisions: All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, at, or after the Auction.
- Disclaimer: All information indicated herein, on the Seller’s Real Property Disclosure Statement, Auction Property Brochure, any Computer Printout and throughout the promotion and presentation of the Auction, was obtained from sources believed to be reliable, but is not guaranteed or warranted. Square footage and room dimensions, if indicated, are only approximations. Buyer shall rely on his/her own information, judgement and inspection of the Property. Neither Seller nor Century Max Realty Inc. and its Sales Associates warrant the condition or any feature of the property. It is the Buyer’s responsibility to employ any advisors deemed necessary to investigate the tax and legal ramifications of this purchase, in addition to the condition and suitability of this property for the Buyer’s needs.
- Offering: This offering is subject to errors, omissions, change of terms, prior sale, cancellation or withdrawal, without notice.
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