Online Only Auction - Only $10,000 Starting Bid!
Bidding will close Wednesday, August 5, 2020 @ 10:15 a.m.
Terms & Conditions:
Property Inspection: View At Your Leisure
This online auction is a cash sale not contingent on or subject to financing, appraisal, survey, study period or inspections of any kind, as agreed to by bidders at registration prior to bidding, and specified in the Agreement for Sale of Real Estate. Property is sold in “AS-IS” condition with no warranties or guarantees of any kind.
Per the contract, “TIME IS OF THE ESSENCE,” and you should proceed to closing immediately. You must close the transaction within 30 days of auction bidding closing and seller approval.
If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve – you may be declared in breach of the contract, forfeit all deposits made, and could be additionally liable for any and all court costs, any price difference in a subsequent resale of the property, and all future auction costs incurred by the seller and Warner Real Estate & Auction Co.
Bid with confidence, but please do not delay your closing!
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Warner Real Estate & Auction Co. will reject the registration, and bidding activity will be terminated.
Online Terms: At the close of the auction, the successful bidder will be emailed the contract package to execute and return to Warner Real Estate & Auction Co. The successful bidder will deposit a $10,000 non-refundable down payment in the form of wire transfer or cashier’s check to Foundation Title, LLC. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
Buyer’s Premium: A 10% buyer’s premium will be added to the final bid price to determine the total contract price. 10% Buyer’s Premium Example: Bid Price: $100,000 Plus 10% Buyer’s Premium: $10,000 Total Contract Price: $110,000
Contracts: Contract Packages will be sent by e-mail to the high bidder, who must execute and email, fax or overnight mail back to Warner Real Estate & Auction, Co., within 24 hours of receipt. If the successful bidder does not execute and return their contract with earnest money deposit within 24 hours of receipt they will be considered in default and subject to legal action. This is a legal binding contract.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed ‘Contract for Sale of Real Estate’ and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $5,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Warner Real Estate & Auction Co., and the Seller as provided in the Auction Terms & Conditions and the ‘Contract for Sale of Real Estate’. All administrative fees are non-refundable.
Closing: Time being of the essence, this sale shall be closed on or before 30 days from the auction bidding closing and seller approval on August 5th, 2020.
Agency Disclosure: In all transactions, the auctioneer is acting as agent for the seller, not as buyer’s agent. Warner Real Estate & Auction, Co. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being furnished to bidders for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete.
Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding.
Broker Participation: Pre-approved (no later than 5 pm (Eastern) 8/4/2020) broker participation is well compensated. Broker must fill out and submit broker participation form by time stated above and adhere to all rules in order to be compensated.
Technical Issues: Neither the company providing the software nor the auction company shall be held responsible for a missed bid or the failure of the software to function properly for any reason. The online bidding will begin to close on Wednesday, August 5th, 2020 @ 10:15 am (Eastern Time). If there is bidding in the last few minutes before the auction closes, extended bidding will commence. If there are no bids within 3 minutes, the auction will end. This procedure prohibits any last second 'sniping' from taking place. Please contact Richard Warner @ 856-769-4111 if you need assistance with registering and the online bidding platform.
Contract for Sale of Real Estate: This property is offered under the specific terms provided in the contract. The Contract for Sale of Real Estate is available at www.WarnerRealtors.com in the property information packet located from within the “DOCUMENTS” section. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Estate, DO NOT BID!
Foundation Title, LLC has performed a title search on the property. You can use your own to review the documents, however, Foundation Title, LLC will be the closing title company.
Warner Real Estate & Auction Co. has the sole authority to resolve any bidding disputes that may arise.