PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE for Live and
Online auction terms.
GENERAL: The real property will be offered at public auction with online bidding. The deed will be a warranty deed.Clear and marketable title will be provided. Closing costs to be split between buyer and seller.
AS IS: The property and all improvements, if any, will be sold on an as-is, where is, with all faults, defects, damage, conditions and flaws. Buyer will take the property in the existing condition. No representations or warranties, expressed or implied, concerning the property is made by neither the sellers nor the seller’s agents. Descriptions of the improvements and property are believed to be correct but are not guaranteed. You are encouraged to conduct your inspections and due diligence prior to bidding and buying at the auction. The real estate is being sold subject to any and all easements or right of ways. Real estate taxes are pro-rated at closing.
METHOD OF SALE: The property will be sold by the legal description as a single tract. SURVEY: No Survey will be provided.
FINANCING: The sale is not subject to financing. Failure to close for ANY REASON WHATSOEVER will result in the forfeiture of the deposit. NO EXCEPTIONS.
DEPOSIT REQUIRED AT AUCTION: A deposit of $5,000 is due immediately at the closing of the auction. Method: Cashier’s check or check with bank letter guaranteeing funds. Online bidding: If you are bidding online, you must deposit the funds by direct draft into our escrow account 24 hours prior to the auction ending AND provide a bank letter of credit in order to receive online bidding privileges. Wire transfers need to be wired to Focus Bank, Paragould, Arkansas. Wiring instructions will be sent privately to online bidders.
PURCHASE CONTRACT: Buyer will be required to execute a Real Property Auction Purchase and Sale Contract on the date of the close of auction and submit their deposit. Online bidders are required to submit an executed Real Property Auction Purchase and Sale Contract within 3 hours of the close of auction.
NO CONTINGENCIES: The purchase and sale contract are not subject to any buyer contingencies for financing, appraisal, surveys, inspection or any other contingencies.
AGENCY: The auction company and their agents are acting under the authority of the seller.
PERSONAL PROPERTY: There is no personal property or merchandise being transferred with the real property.
CLOSING: Closing is to take place no more than 45 days from the date of the auction. TIME IS OF THE ESSENCE. All closing costs for the benefit of the buyer such as appraisals, surveys, loan applications, inspections, title searches, title insurance, etc. are the responsibility of the buyer. The seller is not paying for any of the buyers closing costs.
BUYER’S PREMIUM: There will be an 10% buyer’s premium added to the final bid to equal the contract sales price.
POSSESSION: Possession will be given at closing.
RESERVE: The Real Estate is selling with reserve. No reasonable offer refused, sellers are extremely motivated.
TIED OR DISPUTED BIDS: In case of a tie bid or dispute over who is the high bidder, the auctioneer has the sole discretion to be determine the high bidder and may or may not re-open the bidding to determine the highest bid and settle the disputed bid.
HOA, BYLAWS & COVENANTS: The real property sells subject to any HOA rules, covenants, restrictions, dues or fees, and zoning laws, if any.
QUALIFIED BIDDERS: Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchase. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws. Any bid placed prior to the starting time on the auction will be your starting bid when the auction begins.
DISPUTES: Any disputes that arise between the auction company and any bidder will be resolved by binding arbitration in Greene County, Arkansas. Any bidder upon the property waives the right to a trial, with or without a jury, and submit to arbitration of any conflict between the auction company and the bidder in Greene County, Arkansas.
DISCLAIMER: The auction company provides data, advertising and maps, that are believed to be correct but it is not guaranteed. Bidder’s should rely on their own inspections and due diligence prior to biding. Everything sells strictly AS IS. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color or value of the merchandise or real property sold online. Buyer agrees that buyer may not cancel purchase for ANY REASON.
ONLINE BIDDING: You must register in advance by choosing the auction you wish to participate in. YOU ARE ENCOURAGED TO REGISTER AT LEAST 12 HOURS PRIOR TO THE AUCTION. Click on Register to Bid and
agree to the terms for online bidding including submitting a credit card for verification. This takes you to another screen. You must be pre-approved before you receive a bidder number. Click on the auction catalog registration button.
ALL SALES FINAL: All sales are final. No refunds are given. Everything sells strictly “AS IS”. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color, or value of the merchandise sold online. Buyer agrees that buyer may not return any asset for any reason.
TECHNICAL PROBLEMS: The auction company provides online bidding as a convenience for those that cannot attend the live auction. The auction company will not be liable for any faulty equipment, failure of equipment, faulty software, failure of the software, lack of internet service connections or signals, or failure for any online bids that are not relayed on time to the auction company. The auction company reserves the right to extend bidding, delay bidding, continue with live bidding, or cancel bidding without any notice to online bidders.
DEFAULT OR DELAY: If the buyer delays closing for any reason the buyer may be declared in breach of contract and will forfeit all deposits made. The buyer may be responsible for all cost to the seller or the auction company for subsequent resale. The Auction company reserves the right to reclaim and resale any assets not paid for by the online buyer. Should the resale price be lower than the defaulted buyer’s price, seller and/or auction company reserves the right to seek the difference from the initial online buyer. All fees for collection, court fees, or attorney fees will be the responsibility of the original buyer that caused the default. All sales are final. No refunds are given.
AUCTION ENDS TIMES: The online bidding is a timed event. Auction Company reserves the right to extend the auction in 5-minute segments for any and all bids received in the last 5 minutes of auction.
All bidders agree to be bound by this bidder contract by placing a bid. PLEASE SCROLL & READ ALL TERMS LISTED BELOW, INCLUDING PREVIEW, PICKUP, and SHIPPING INFORMATION.
* TERMS OF SALE: 10% Buyer Fee added to high bid at invoice. All items are being sold AS IS, WHERE IS, No Warranties or Guarantees of any kind. No Returns, No Refunds. A paid invoice receipt from SOLDasap llc. is required prior to pickup and removal. Buyers assume all responsibility and hold Seller and Auctioneer harmless for introducing any item or part of item into the stream of commerce. Photographs and Descriptions are provided as a guide, and a guide only. Bidders to verify correctness of ANY advertised information to their satisfaction as to use for any particular purpose. Any bid placed by a Bidder is based solely upon the Bidders personal inspection and opinion. Failure to inspect the property does not relieve bidder of responsibility for payment and removal as stated in these terms. All bids are a binding contract according to these terms. Bidder acknowledges that once a bid is offered, the Bidder shall be bound by the bid amount. Bids cannot be withdrawn or retracted. Verify your information entered (bid amount) before submitting your bids. Auction Company may change bidders usernames or passwords at the sole discretion of the Auction company. Auction is subject to additions and or deletions prior to auction closing.
* INVOICES & PAYMENT TERMS:* INVOICES & PAYMENT TERMS: You will receive an invoice by email at the conclusion of the auction. Payment is due in full at the time of pick-up. Please be prepared to pay in the form of cash or cashier’s check. You may also call our office to arrange payment by direct wire transfer or PayPal prior to pickup. We do not accept personal checks or credit cards, no exceptions.
* EXTENDED BIDDING DYNAMIC CLOSING: If a bid is entered within the last 3 minutes of the closing of an item, the closing time will be extended by ten minutes to ensure sufficient time for bidders to submit their bids. Extended Bidding will continue until no bids are placed within 3 minutes.
* PREVIEW & INSPECTION: The Preview and Inspection Schedule is available, and can be found in the Auction Listing Tab on the Auction Page. Individuals previewing items are personally responsible for any breakagedamage to items they are handling and will be charged appraised value for item(s). All people previewing assume all responsibility for their own safety. Auctioneer & Seller are not responsible for accidents.
* PICK UP TIME REMOVAL: The Pickup Time Removal Schedule is available, and can be found on the Auction Listing Tab on the Auction Page, and MUST BE adhered to specifically. Any bid placed by a Bidder should be based on their ability to comply with the pickup schedule as listed. Buyers MUST pickup these items and provide any additional personnel or equipment required to move the item. IF YOU CANNOT PICK UP THE ITEM DURING THE SCHEDULED PICKUP TIME --- DO NOT BID! Buyer is responsible for providing the supplies, boxes, packing material, tools, equipment, etc. necessary, as well as the physical labor for dismantling, rigging, crating, loading and hauling at their own expense. ANY ITEM NOT PICKED UP ON PICK-UP DAY WILL BE CONSIDERED ABANDONED. IF THE BUYER INVOICE IS NOT PAID, THE DEFAULTING BIDDERS ACCOUNT WILL BE CLOSED FOR ALL MARKNET ALLIANCE AUCTIONS.
* SHIPPING AND DELIVERY:
SHIPPING: Pick up by buyer only with paid receipt.
* NOTICE TO BIDDERS AND BUYERS OF AUCTIONEER'S RIGHT TO REPOSSESS AND RECOVER DAMAGES:
By placing any bid, each Bidder or Buyer -
1) understands that Auctioneer or Seller incurs actual damages by non-performing Bidders or Buyers.
2) understands that Auctioneer or Seller may repossess any property not paid for by midnight on the day of auction pick-up regardless of invoice payment status. A Storage Fee equal to any payments, may be levied at midnight on the day after auction pick-up ends. Defaulting Buyer account may be closed, and a black flag notification may be sent to the MarkNet Alliance removing registration access to all MarkNet websites.
3) understands that Auctioneer or Seller may request assistance from a third party to recover damages incurred as the result of a non-performing Bidder or Buyer.
4) ANY ITEM NOT PICKED UP WITHIN THE ALLOTED TIME, AS STATED IN THESE TERMS, WILL BE CONSIDERED ABANDONED. IF THE BUYER INVOICE IS PAID, WE WILL RESELL THE ITEM AND SEND THE DEFAULTING BUYER 50% OF THE HIGH BID ATTAINED AT THE SUBSEQUENT AUCTION. IF THE BUYER INVOICE IS NOT PAID, THE ITEM(S) WILL BE RESOLD AND THE DEFAULTING BIDDERS ACCOUNT WILL BE CLOSED FOR ALL MARKNET ALLIANCE AUCTIONS.
Please do not wait until the last minutes of the auction to register or call the auction company. Our office staff is typically extremely busy at this time, and we cannot guarantee getting to your questions or concerns during that time frame. We highly suggest that you utilize the max bidding feature to ensure your bids are placed. We will not be responsible for last minute computer issues.
Bid on Your OWN Schedule!
Call 870.236.6117 for questions, bidding assistance!!