iAuction Terms & Conditions

1. PROCEDURE: Bidding ends Wednesday, May 15, 2019, at 10:00 AM, with a soft close, meaning that a bid in the final minute 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 sales 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, May 16, 2019 (hand delivered, faxed, or scanned and emailed). The Seller reserves the right to reject any and all bids. Once accepted, this agreement shall be binding on the parties and their successors and assigns. This agreement is NOT subject to financing, inspections, or other contingencies or delays the closing for such reason.
4. DOWN PAYMENT: 10% of the contract purchase price will be due upon acceptance of the Sales Contract. Business or Personal Checks or Wire Transfer are accepted.
5. CLOSING: Closing shall be on or before 3:00 PM., Wednesday, June 19, 2019.
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 to convey title. Sales price will be adjusted based upon surveyed acres.
9. REAL ESTATE TAXES: 2019 Real Estate taxes to be paid prorated to the day of closing.
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.