Terms & Conditions

1. PROCEDURE: Bidding ends Thursday, March 22, 2018 at 10:00 a.m., with a soft close, meaning that a last minute bid will extend bidding by 5 minutes. All BIDS placed are by the acre.
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. A signed copy of the contract must be received by Trophy Properties and Auction on or before 12:00 NOON, Friday, March 23, 2018 (hand delivered, faxed or scanned and emailed). All final bid prices are subject to approval or rejection by Seller.
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, April 19, 2018.
6. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant. Buyer to receive all 2018 cash rent.
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. Buyer to 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.