Terms & Conditions

1. PROCEDURE: Bidding ends Wednesday, January 10, 2018 at 10:00 a.m., with a soft close, meaning that a last minute bid will extend bidding by 5 minutes.
2. BUYERS PREMIUM: 5% Buyer’s Premium will be added to the final bid price to arrive at the contract sale price.
3. ACCEPTANCE OF BID PRICES: Winning bidder(s) will enter into a Contract to Purchase immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will be forwarded via email a Contract to Purchase. Trophy Properties and Auction must receive a signed copy of the contract on or before 12:00 NOON, Thursday, January 11, 2018 (hand delivered, faxed or scanned and emailed).
4. DOWN PAYMENT: 10% of the contract purchase price will be due upon acceptance of the Sales Contract. Bidding is not contingent upon financing. The balance of the purchase price will be due at closing.
5. CLOSING: Closing shall be on or before 3:00 p.m., Thursday, February 8, 2018.
6. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant, if any.
7. TITLE: Seller shall furnish the buyer(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).
8. SURVEY: AT SELLERS OPTION, the Seller shall provide a new survey where there is no existing legal description sufficient to convey title. Sales price will be adjusted based upon surveyed acres.
9. REAL ESTATE TAXES: Seller shall pay 2017 and all-prior year real estate taxes, if any. The Buyer will pay All 2018 real estate taxes.
10. Under no circumstances shall Bidder have any kind of claim against Trophy Properties and Auction, or anyone else if the Internet service fails to work correctly before or during the auction.