Auction Terms & Conditions Thank you for Registering for our Online Auction!
Terms & Conditions
REAL ESTATE AUCTION Being Sold " AS IS WHERE IS" with a Guaranteed Clear Title Insurance. Call Auction Company @573-429-7069 for Full Details
Please remember this auction has a 10% Auction Fee ( Buyers Fee) added to your high bid to make for your total contact price. Title Insurance is included. Taxes are current and will be pro rated to closing date.
THIS IS A SOFT CLOSE AUCTION: This means that bidding will will begin to end at 6 PM Local Time. HOWEVER if anyone bids during the last minute, the bidding will extend for 2 minutes until there are no more bids during the last minute. THIS MEANS THE AUCTION MAY NOT END AT 6PM SHARP.
IF YOU INTEND TO BID OR WATCH LAST MINUTE: We cannot guarantee your internet service or lack of. We recommend that if you are not 100% sure of your internet or do not want to bid last minute to use the MAX BID FEATURE. You may enter a MAX BID of any amount at or above your current bid in the same slot and the software will only bid for you to the next increment unless someone else already has a max bid above yours. If so it will take the first bid in order. There can be no tie bids.
LIVE CATALOG: If you intend to bid or watch last minute, make sure to click on the FLASHING "ENTER LIVE CATALOG" BUTTON in the last 15 minutes. You should be able to see the seconds counting down then or you will have to keep refreshing your screen and may miss the close of the auction!
Property Sells to the Highest Bidder Subject to Lender \Approval.
If you have any questions, please call my cell direct @ 573-429-7069
Thanks and Happy Bidding!
COMPLETE AUCTION TERMS & CONDITIONS BELOW
10% Auction Fee on Real Estate.
TERMS & CONDITIONS OF AUCTION
Title Insurance Policy will be provided by the seller.
Additional Financial Information including Bank letter of Credit, Loan Approval Documenation or Proof of Funds may be Required to Bid. Call Auction Company @ 573-727-9656 To Be Approved to Bid
Online Only Auction These "Terms and Conditions of Auction" supersede all other printed and oral statements and will be attached to and become a part of the REAL ESTATE PURCHASE AND SALE AGREEMENT ("Agreement"), which will contain the precise conditions of sale and will prevail over this document and any other agreement between the Purchaser, Seller and Auction Company. United Country-Birdsong Auction & Real Estate Group, ("Auction Company" & United Country Northern New Mexico Real Estate ) has entered into a contract with "Seller" to sell the property located 10 vEGA Road, RIO CHAMA ETSTATES Chama, New Mexico The seller(s) has the right at their sole discretion , for any or no reason, to add or withdraw any or all property prior to commencement of the bidding before or during the online auction.
OFFERING: The Property will be offered today will sell to the highest bidder, subject to seller/ approval/ All-decisions of the Auctioneer shall be final, including but not limited to decisions on matters such as -increments of bidding, disputes among bidders, and any other issues that may arise during the sale.
There is 10% Auction Fee added to the high bid price to arrive at the total contract price. The auction fee will paid by the purchaser and ibe included in th "total contract price.
The Property will be sold "AS IS, WHERE IS." No additional warranties, other than clear title, either statutory or otherwise, expressed or implied, of any kind whatsoever, including those as to the fitness for a particular use or purpose, habitability, merchantability, quality of construction, possibilty of or potential wetlands, or environmental condition [including without limitation, the presence or absence of asbestos, lead-based paint, or any hazardous substances, Mold, Mildew, hazardous wastes, petroleum or petroleum by-products (collectively "Hazardous Materials")] concerning or with respect to the Property are given by the Seller or Auction Company.This Property will be sold subject to any Declaration of Covenants, existing rights-of-way, public utilities, health department regulations, encroachments, zoning ordinances, and all other matters now of record, as well as its compliance with any federal, state and local laws or regulations. .
SURVEY: Property Description is based off Deed and County Tax Records If a new survey is required or desired by the Purchaser or Purchaser's Lender it shall be at Purchaser's expense and shall not be a contingency of closing.
All bidders acknowledge and agree by their participation in the auction, that the bidder has inspected the respective Property offered at auction today, or voluntarily chose not to inspect, and are not relying on any warranty or representation of Seller, Broker, Auction Company, or any agent thereof, and that the bidder would be buying the Property "AS IS, WHERE IS" and "WITH ALL FAULTS."
All bidders must receive a bid number in order to bid. A valid credit card is required to bid. Bidder agrees that a $500 hold can be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $500 internet service fee is non-refundable and will be charged to their credit card. If they are not the winning bidder, the $500 internet service fee will be released.
The successful bidder will be required to sign the "Purchase and Sale Agreement" within 24 hours of auction close and deposit 10% of the total contract price into the escrow account of Birdsong Auction & Real Estate Group, LLC . ( Total Contract Price = High Bid PLus the 10% Auction Fee) Failure to do so will be considered a breach of contract.
Under no circumstances shall Bidder have any kind of claim against United Country | Birdsong Auction & Real Estate Group, LLC, or anyone else if the Internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the online auction, they have accepted all of these Terms and Conditions. Bidder is responsible for any and all bids placed by their account.
All decisions of the Auctioneer shall be final, including but not limited to decisions on matters such as increments of bidding, disputes among bidders, and any other issues that may arise during the sale.
The total contract price shall be the winning high bid plus an Auction Fee equal to ten percent (10%) of the winning bid. The successful bidder shall be required to sign the Agreement and pthen ay earnest money equal to ten percent (10%) of that total contract price, as ("Earnest Money Deposit") immediately following the auction. ( EXAMPLE $10,000 Wiinning Bid PLUS the 10% Auction Fee of $1,000 = $11,000 total contgract price for a down payment amount of $1,100. Leaving a balance of $9,900 at closing plus 1/2 of the closing fee itself. Guranteed clear ttitle insurance is being provided by the seller at not addtikonal cost to tjhe buyer. The Earnest Money Deposit will include the Bidder Deposit, with the balance being in the form of a personal or company check, and is due immediately after being declared the Purchaser. Earnest Money Deposit check shall be made payable to Birdsong Auction & Real Estate Group. If, for any reason Buyer fails to execute The Real Estate Purchase and Sale Agreement or pay the deposit immediately following the auction, Seller has sole discretion to: (a) pursue all legal and equitable remedies available against Buyer, or (b) declare the Buyer's bid to be immediately forfeited, null, and void, without any requirement of notice, and immediately re-sell the Property to another buyer. The Earnest Money Deposit will be held in a non-interest bearing escrow account under the control of Birdsong Auction & Real Estate Group, pending the Closing and in accordance with the Purchase Agreement. No disbursement will be made from the escrow account until closing or as otherwise set forth in accordance with the Purchase Agreement. In the event a Purchaser fails to close and pay his or her balance when due, the Deposit may be retained by Seller as liquidated damages, in addition to any other remedies available to Seller, and will be distributed in accordance to a separate agreement between Seller and Auction Company.
CLOSING: . Closing shall be on or before January 15, 2021, or within 45 days of being declared the winning bidder by Court Approval., time being of the essence, or in accordance with the Purchase Agreement, or other such date mutually agreed upon by Seller and Purchaser in writing. CASH BUYERS MAY CLOSE IN A MUCH SHORTER TIME FRAME. Taxes for 2020 shall be prorated to the date of closing. Purchaser will be responsible for any subsequent assessments for prior years due to changes in the usage of the Property. Purchaser and Seller agree this is a "CASH, AS-IS SALE" not subject to Purchaser obtaining financing. Seller will deliver a Special Warranty Deed and Sellers Title Policy conveying the property free and clear of all encumbrances, except as is otherwise provided in the Purchase Agreement. Seller and Purchaser will split customary closing fees 50/50 with the exception of lenders policy any costs and/or fees related to the Purchaser's financing or Purchaser's attorney. (See Exhibit D - Estimated Closing Fees). POSSESSION SHALL BE GRANTED TO PURCHASER UPON CLOSING AND FUNDING OF TRANSACTION.
POOLING OR BID RIGGING: Any agreement among potential bidders not to bid against one another, or otherwise to dampen the bidding process, is a felony under federal law. The Auctioneer reserves the right to bid on behalf of the Seller if he detects or suspects this fraud by two or more bidders.
NOTIFICATION OF BINDING ARBITRATION: In the event a dispute shall arise between the parties relating to the Real Estate Purchase and Sale Agreement, property issues, or the Auction, and involving the Seller, Bidder, Buyer, Broker, Auctioneer or Auction Company, in any combination, it is hereby agreed that the dispute shall be determined and resolved exclusively by neutral arbitration as provided by Missouri law.
AUCTION COMPANY AND BROKER NOTICE OF AGENCY RELATIONSHIP: The Auction Company, Auctioneer, and Broker are acting as agents for the Seller in this transaction and are to be paid a fee by the Seller pursuant to a separate written agreement between Seller, Broker, Auctioneer and Auction Company. Neither the Auction Company, Auctioneer nor Broker is acting in any way as agent for the Purchaser in this transaction. Any third party broker is not a subagent of the Auction Company, Auctioneer, or Broker.
Seller User Terms
Bidder User Terms