FAQs & Terms and Conditions

A buyer’s premium will be charged in each sale. A buyer’s premium is an advertised percentage of the high bid or flat fee added to the high bid to determine the total contract price to be paid by Buyer. For example, if the high bid is $100,000 and there is a ten percent (10%) buyer’s premium, the premium will be $10,000, for a total contract price of $110,000. In this sale, Buyer agrees and will be responsible for 10% of the high bid or $2,500, whichever is greater. This amount does not include any taxes that may also be due. The buyer’s premium does not create any agency relationship between Buyer and Auctioneer. Auctioneer is the agent of the Seller only. Buyer agrees to these provisions and will pay the applicable buyer’s premium.

Upon making payment for an item(s), no stop payment of funds will be honored. Any stop payment order of a check, or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be prima facie evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud.

A bid placed by Buyer shall be conclusive proof that he or she has acquainted himself or herself with the Agreement and agreed to be bound by it prior to placing any bid.

Buyer acknowledges that he/she has been provided the opportunity to inspect the property before bidding on and purchasing same. Buyer either has inspected the property or elected not to inspect the property at Buyer’s sole discretion. Buyer is solely responsible for determining the condition of any property. Buyer represents and warrants that he or she is relying solely on Buyer’s own investigation and inspection of the property and not on any information provided or to be provided by the Auctioneer, Seller, or participating Listing Broker.

The terms in this paragraph only apply to items specifically designated as being sold without reserve. Auctioneer and Seller reserve the right to withdraw any property or cancel the sale at any time prior to calling for bids at the beginning of the sale. The property may be withdrawn if there are no bids within a reasonable period of time after Auctioneer has started calling for bids. Once a bid has been made for the property, it may not be withdrawn.

In case of any dispute between bidders, Auctioneer, at his or her sole and complete discretion, may reopen the bidding pursuant to specific terms determined by Auctioneer between the two highest bidders only, until the property is sold. If a dispute arises after the sale of any item, the Auctioneer’s records shall be deemed conclusive in all respects.

It is the responsibility of each bidder to make sure that Auctioneer is aware of his or her intent to place a bid. As the high bidder at the auction, as recorded by the Auctioneer, buyer hereby makes an irrevocable offer to purchase the item identified by Auctioneer. The offer shall be irrevocable by the Buyer for fifteen (15) days from the date of the Auction. Seller may accept the offer during this period or thereafter. The Buyer shall be bound by the offer unless and until the Broker/Agent receives from Buyer a written revocation of the offer after the fifteen day timeframe and prior to notification to Buyer by Broker/Agent of Seller’s acceptance of the offer. Auctioneer disclaims any liability for damages, whether direct, indirect, consequential, or incidental, resulting from bids not spotted, executed, or accepted. Bidders should also be careful to bid on the correct item and ensure that his/her bid is for the amount intended. Auctioneer is not responsible for errors in bidding, and Buyer hereby releases Auctioneer and waives any and all claims for bidding errors. The sale is complete when the Auctioneer so announces in the customary manner.

Buyer may be able to bid on the property at this Auction through the Internet. The terms in this paragraph apply only to individuals bidding on-line via the Internet.

1. Buyer acknowledges that Auctioneer does not have any responsibility or liability for the website(s) used for Internet bidding. Seller acknowledges that the Auctioneer may not have any control over the website(s) and cannot guarantee its operation or performance. There are occasional interruptions and delays relating to the use of the Internet and the Website. Furthermore, Auctioneer shall not be held liable (for lost profits or special damages) or responsible for the function of the website or its inability to function. Buyer acknowledges that hardware malfunctions, software malfunctions, viruses, and similar issues do occur and are beyond the knowledge, scope, and control of Auctioneer. Auctioneer makes no representations whatsoever about any website that may be used to sell the property. In addition, Auctioneer does not endorse or accept responsibility for the content, performance, or function of the third-party auction website. Use of the Internet bidding option through any website is at your own risk. To ensure proper bidding, Buyer should personally attend all live Auctions.

2. Buyer must register and obtain a bid number to participate in the auction. In connection with such registration, you will be required to provide a credit card number (Visa or MasterCard) in order for an authorization and verification. Buyer must state whether he or she will pay cash or expect to finance the purchase. If Buyer expects to finance the purchase, he or she will need to be pre-approved or provide information regarding the third-party financing company. Please follow the instructions carefully to make sure that the registration process is complete and accepted.

3. Buyer will be e-mailed final registration approval upon successful completion of the registration process. Registration for live online bidding closes forty-eight (48) hours prior to the auction. Buyer should register as early as possible to obtain information about the properties and increase the likelihood of being notified of any pertinent changes that take place prior to the auction. Buyer can and should inspect the property or have a representative inspect the property.

4. The website is administered by Auctioneer from its offices in the United States of America. Individuals must reside in the United States to register to bid online for live online auctions. Auctioneer will not accept bids from individuals who reside outside of the United States of America and its territories. If you access the website from a location outside of the United States of America and its territories, Buyer consents to jurisdiction in the United States of America and agrees to be bound by and comply with all applicable laws.

5. Online bidders are limited to only one purchase per auction, unless otherwise approved by Auctioneer in advance. Any online bidder who is interested in purchasing more than one item, should contact Auctioneer at (800) 420-1155 prior to the auction.

6. The bid number, authorization, and login information given to Buyer upon successful registering to bid shall only be used by Buyer during the auction to bid on the properties. The registration is not transferable or assignable. No one else may register for Buyer or participate on Buyer’s behalf.

7. Buyer Broker participation is not approved or authorized for online bidding. No commission will be paid to Buyer Broker.

8. Auctioneer reserves the right to deny any person for any reason permission or access to bid online.

9. If Buyer is the successful bidder, Auctioneer will contact you via phone at the phone number provided during registration. Once contacted by an Auctioneer, Buyer will be sent, via e-mail, fax or other, the Real Estate Purchase Agreement and certain other documents for electronic signature. Buyer must also pay the deposit as referenced above. The Real Estate Purchase Agreement will contain the exact terms and conditions of the sale. Additionally, Buyer must agree to be bound by all terms, provisions and conditions of the Real Estate Purchase Agreement and the related conveyance documents, if any, for each particular Property. As between Buyer and Seller, the Real Estate Purchase Agreement supersedes any and all other documents or information (including without limitation these “Terms and Conditions of Sale”) and serves as the governing document for the sale of each Property. After executing the Real Estate Purchase Agreement electronically, Buyer will be contacted by an escrow agent/holder or closing representative who will provide them certain additional information pertaining to the closing process. If the Buyer cannot be reached within thirty (30) minutes of Auctioneer’s acknowledgment of the high bid, or Buyer fails to timely electronically execute the Real Estate Purchase Agreement, then Auctioneer or Seller can declare the Buyer to be in default. In such event, the Buyer shall be subject to liquidated damages in the amount as provided herein. In addition, Auctioneer may charge Buyer’s credit card in such amount. Furthermore, Auctioneer reserves the right to immediately put the property back up for sale at the Auction. Those Bidders who are not successful bidders during the auction will have the authorization hold on their credit card removed following the day after the auction.

During the sale of each item or in the event that a bid is made while the sale is being closed by the fall of the hammer or other customary manner, Auctioneer may reopen the bidding at his or her sole and complete discretion.

Neither Auctioneer nor seller (including employees and agents) shall be liable for any damage and/or injury to any property and/or person at and/or upon the sale premises. Each person entering upon the sale premises assumes any and all risks whatsoever for his or her safety (and for any minors with him or her). auctioneer and seller (and any agents) expressly disclaims any “invitee” relationship and shall not be liable for hidden defects. AUCTIONEER IS NOT RESPONSIBLE FOR ANY LOST, STOLEN, OR DAMAGED PROPERTY.

Buyer authorizes Auctioneer to execute any memorandum of sale on behalf of and in the name of Buyer, or in Auctioneers own name, in connection with the purchase of any item, in accordance with his or her bid.

All sales are to be put up per lot, unless otherwise announced by the Auctioneer. Each lot or item is the subject of a separate sale. Auctioneer reserves the right to include in the auction any item and the right to withdraw any item. Auctioneer may combine, subdivide, regroup or reorganize any items.

No photographs, tape recordings and/or video recordings of any type are permitted without the express written prior approval of Auctioneer. It is understood, however, that Auctioneer, including its agents, employees, representatives, or affiliates, may be taking pictures and video for future commercials or advertisements. The use of a photograph or video with Buyer’s image or likeness is hereby authorized. Use of the Buyer’s image or likeness is limited to video footage, audio, or photographs.

If any provision of this Agreement is declared or determined to be null, void, inoperative, illegal or invalid for any reason, the validity of the remaining parts, terms or provisions will not be affected thereby and they will retain their full force and effect, and said null, void, inoperative, illegal or invalid part, term or provision will not be deemed to be part of this Agreement.

Each party to this Agreement acknowledges that it has read, or has had the opportunity to read, the terms provided herein. The parties agree that this Agreement reflects the terms as agreed to by the parties hereto. In the event a term or terms is considered ambiguous, neither party hereto, nor their respective counsel, will be considered the draftsperson of this agreement for the purpose of causing the terms of this Agreement to be construed against a party hereto.

The parties hereto acknowledge and agree that this Agreement is made and entered into in the state in which the auction was conducted, and will in all respects be interpreted, enforced and governed under the internal laws (and not the conflicts of laws) of the state in which the auction was conducted. In the event that the parties hereto, or any one of them, litigate any actual or potential breach of this Agreement, the parties hereto stipulate and agree to jurisdiction and continuing venue for any such action in the state in which the auction was conducted.

All rights granted herein are personal and exclusive to the registered bidder, and may not be assigned or transferred to another person or entity, by operation of law or otherwise. Any attempt to assign or transfer any such rights shall be void and unenforceable. No third party may rely on any benefit or right conferred herein or granted to any bidder.

In the event that the Buyer pays only a portion of the purchase price for any or all items purchased, Auctioneer shall apply the payment received to such item or items as Auctioneer, in its sole discretion, deems appropriate.