USDA ORDERED AUCTION
Bidding will close on Wednesday, June 5, 2019 at 10:00 a.m.
SUMMARY GENERAL TERMS AND CONDITIONS OF SALE:
PROPERTY INSPECTION: Wednesday, May 29, 2019 – 12:00 P.M. to 1:00 P.M.
Buyer’s Premium: No Buyer’s Premium
Deposit: 10% Deposit
Closing: 30 Day Closing, Sold “AS-IS” Condition, No Contingencies
Auction Type: Sale Subject to Government approval.
Online Auction Registration: Registration is requried to become a qualified and eligible online bidder (“Bidder”). To register, a prospective Bidder must:
(a) Complete the Online Bidder Registration Form providing Bidder’s full name, company name, residence/business addresses with telephone numbers, cellular telephone number, facsimile number, email address, a copy of a State valid driver’s license number or a valid passport, and the name(s) and/or entity in which the Bidder will take title to the Property.
(b) Bidders must show Proof of Funds in an amount not less than $50,000.00 which may represent a portion of the required Escrow Deposit. Additionally, when registering online Bidders must provide a valid credit card in which a $5,000.00 pre-authorization hold will be placed on before you are able to participate in the bidding.
(c) Execute the Online Bidder Contract.
(d) Return the required two (2) executed documents along with the Proof of Funds to Auctioneer, 53 East Avenue, Woodstown, NJ 08098; Fax 856-769-1771; Email: Rich@WarnerRealtors.com no later than 5:00 P.M. E.T. Tuesday, June 4, 2019.
Successful Bid, Purchase Price, Escrow Deposit, Real Estate Sales Contract/Addendums:
(a) When the Seller accepts the highest bid (“Successful Bid”) for the Property, then the successful Bidder will be required to execute, as Buyer (“Buyer”) (i) the Real Estate Sales Contract (“Contract”), which has been previously furnished to Bidder, immediately following the bidding and/or no later than the conclusion of the Online Auction, with no changes/exceptions (ii) initial a wire transfer for the Escrow Deposit, which will be 10% of the Purchase Price to the Escrow Agent, Reliant Land Services, LLC. Bidder will have no later than twenty-four (24) hours following the end of the Auction, they will be considered in default and the $5,000.00 credit card hold will be processed and considered as liquidated damages.
Broker Participation Fee: A fee of one and one half percent (1.5%) of the high bid will be paid at closing by Warner Real Estate & Auction to a cooperating Buyer’s Broker who registers the successful Buyer who closes on the property. (No commission will be paid if the Buyer fails to close)
Agency Disclosure: Warner Real Estate & Auction Company represents the seller in this real estate transaction.
Disclaimer: Information contained herein is believed to be correct to the best of the auctioneer/broker’s knowledge but subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/broker shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate.