# 10.
A 7.5 - 10% Buyer's Premium shall be in effect on all sellers trophy properties.
The buyer's premium is added to the online accepted high bid price to arrive at the final auction sale contract price.
# 11.
The balance of the purchase price payable by the high bidder shall be made in cash, certified check,
cashier’s or bank check. Closing is within 30 days
of the date of the on-line auction signed Auction Sales Contract.
# 12. Seller
will convey clear and marketable title to subject property, free and clear
of any and all encumbrances, except building and/or zoning restrictions
of record, restrictive covenants of record, usual public utilities associated
with servicing of subject property and easements/right-of-way which exist
or run with the subject property on the face of the earth..
# 13.
Buyer may examine property title for 10 days after the high bid is accepted
and executed in the form of the Auction Sales Contract and shall within that
time notify Seller in writing of any defects in title that may render the
title unmarketable in accordance with the standards adopted by the
State Bar Association. Sellers shall have 30 days to cure any and all defects
of title, so brought to its attention that may render the title unmarketable.
Buyer shall have the right to rescind and be refunded deposit(s) where defects
of title that render the title unmarketable are not cured by the seller within
the above allotted number of days.
# 14. Upon
termination of the on-line bidding and compliance with the terms of sale,
Trophyauctions.com shall declare the terms of sale have been complied with
and the on-line sale is closed. In the event the high bidder fails to comply
with any of the terms and conditions of the sale and the fully executed Auction
Sales Contract and fails to close at settlement the buyer's downpayment shall be dispursed as follows 50% to the Seller and
50% to TrophyAuctions.com. A bidder or buyer deposit is retained under
this paragraph shall be responsible for any and all consequential damages
and additional costs, deficiencies, expenses and losses suffered as a result
of his failure to perform, including without limitations, any attorney’s fees.
# 15. The
Purchaser’s commitment under the Auction Sales Contract will NOT BE CONTINGENT
upon purchaser obtaining financing or upon any other contingencies. The Purchaser’s
deposit will not be refunded due to any inability to secure financing or any
other failure by Purchaser to perform.
# 16. The
subject property is to be SOLD “AS IS, WHERE IS” with all existing defects
and without any warranties expressed or implied of any kind even as to the
fitness for a particular purpose, habitability or merchantability. Qualified
on-line bidders Bidders are encouraged to investigate and inspect the premises
and public records and consult with their personal attorney prior to the on-line
auction bidding. No warranties, guarantees or representations of any kind
are made; and all warranties are disclaimed with respect to any improvements
located underground, the location and/or boundaries of the premises or improvements
thereon, environmental compliance’s, or its compliance with any applicable
zoning or land use regulations, laws or ordinances. BUYER agrees that SELLER(S)
are not giving any expressed warranty, has no successor liability and is not
obligated to give any implied warranties. The Buyer will assume responsibility
and expense for any title search, title examination or title insurance, as
set forth in said Auction Sales Contract. THE BUYER WILL ASSUME RISK OF ANY
DEFECTS, AND EACH ON-LINE BIDDER EXPRESSLY ACKNOWLEDGES AND AGREES THAT TILE
AMOUNT BID REFLECTS THE “AS IS, WHERE IS” CONDITION OF UNDISCLOSED DEFECTS.
EACH QUALIFIED ON-LINE REGISTERED BIDDER FURTHER ACKNOWLEDGES AND AGREES THAT
SUCH BIDDER IN NO WAY RELIES UPON REPRESENTATIONS MADE BY SELLERS, SELLER
ATTORNEY, THEIR AGENTS OR TROPHYAUCTIONS.COM
# 17. In
the event of a substantial loss or damage to the subject property after the
execution of the Auction Sales Contract and prior to settlement date, the
Buyer shall have the election either to terminate said Auction Sales Contract
and will be reimbursed all of his earnest money deposit or to complete
the purchase and receive any insurance proceeds or eminent domain award received
by the Seller(s) on account of the damage or loss.
# 18. In
the event of disputed on-line competitive bidding, the Trophyauctions.com
facilitator shall be the sole and absolute judge of such dispute.
# 19. TROPHYAUCTIONS.COM
FIDUCIARY RESPONSIBILITY IS AS AGENT FOR THE SELLER
# 20. In
the event of any conflict between the Terms and Conditions of the On-Line
Auction Sale and the Auction Sales Contract, the Auction Sales Contract takes
precedence and shall prevail.
# 21. Seller
allows on-line bidder access to the subject property on the published open
house dates for the purpose of inspection and due diligence.
# 22. Seller
will convey a
upon transfer of title. All Trophyauctions.com Sellers
must supply proof of marketable title prior to their on-line auction property
offering. New owners title insurance is avail- able to the high bidder at
buyer’s expense.
# 23. Trophyauctions.com
may announce other terms and conditions prior to the on-line auction commencing.
Please refer to each sellers terms and conditions of sale located on the property listing page.
IMPORTANT ON-LINE AUCTION BIDDER NOTIFICATION: Upon registering to bid the
buyer(s) is required to sign this document to insure that the buyer(s) have
read and fully understand the terms and conditions of the sale.
Sellers # 1 Signature
Sellers # 2 Signature
Date
Sellers Address:
Phone:
Fax:
Email:
