REAL ESTATE AUCTION
TERMS AND CONDITIONS - 2006
Addendum # 1
1. Buyer acknowledges receiving
this written notice before any Contract for Auction and Purchase has been
signed. Certified checks, Cashier's checks, or
irrevocable Letter of Credit with satisfactory identification
are acceptable today. Any personal checks or other negotiable instrument must be approved
by the Auctioneer before the Auction.
2. Each
winning bidder, immediately following their becoming the winning bidder, shall
complete a purchase agreement, and shall deposit percentage in accordance with
parcel contract plus $210.00 or as indicated on contract. All deposits will be held per individual
contracts in any escrow account, until closing, at which time each will
become a part of the purchase price.
$210.00 is non refundable. Bankruptcy Property: Each
winning bidder, immediately following their becoming the winning bidder, shall
complete a purchase agreement, and shall deposit 100% or per contract, with
the Auction Company. All deposits will be held in the Trustee’s account until U.S. Bankruptcy
Court approval and will become a part of the purchase price. Checks
are payable to the Trustee.
3. Closing will be on or before 30 days from
date of signed contract by the Seller.
Closing agent as indicated on contract or Fact Sheet. Winning bidder will forfeit full deposit if
they fail to close. Delay may occur due
to normal day-to-day business circumstances of Title Co.,
this does not constitute default by Seller.
Bankruptcy Property: Approval will be on or about
60 days by U.S. Bankruptcy Court. Buyer
will arrange for their own closing, recording of Deed and any other items
relative to closing unless otherwise indicated on contract. Delays with Court, Trustees or Title Company
do not constitute default by Seller.
4. Each Buyer will receive a
General Warranty Deed. Bankruptcy
Property: Each Buyer will receive a Trustee’s Deed.
5. All properties are being
sold "as is" and in every way, Buyer shall rely ENTIRELY on
their OWN information and inspections.
Buyer will pay for all closing costs including Title Insurance, Survey,
DOC Stamps and any other costs. Closing
cost will be a minimum of $300.00 if Title Insurance is
issued. Title Insurance will be
issued unless written notice is given to Auction Company. Bankruptcy
Property: Buyer will also pay
all back & current taxes, fees and any other costs including any
other encumbrances unknown to Seller.
6. If you become the winning
bidder of a property, hold up your bidder's number, or shout it aloud to the
clerk.
7. The Auctioneer reserves the right to accept
bids in any increment he feels is in the best interest of his client, the Seller.
8. The Auctioneer reserves the
right to reject the bidding of any person whose conduct, actions, or adverse
comments he feels are not in the
best interest of his client, the Seller.
9. When the winning bidder of each unit is
determined, the "Back Up” bidder (person who made the last bid before the
winning bid) will also be recorded.
Therefore, if the winning bidder, for any reason, fails to close, the
sale will revert to the "Back Up" bidder at his last bid.
10. In
the event of a tie bid (two people believe they were the winning bidder) the
Auctioneer will reopen the bidding between these two people only...first giving
the person whose bid the Auctioneer did NOT see, a chance to raise the bid,
then allowing the other a chance to raise the bid, etc.
11. All
sales are subject to written confirmation by the Seller to the Auctioneer
within 48 hours of the Auction. Bankruptcy
Property: All sales are subject to written confirmation by the
Trustee to the Auctioneer.
12. All
announcements from the Auction Block will take precedence over any printed
matter. Oral statements by Auctioneer or
Seller do not constitute a warranty of any type. Bidder shall make no claim against the
Auctioneers. Controversy or claim
against Seller or Auctioneers will take place in
13.
Agency Disclosure - Shuler & Shuler Real Estate Auctioneers, Inc. is by this document giving notice to
the Buyer that it is the agent and representative of the Seller. The Buyer acknowledges that this written
notice was received before the Buyer signed a contractual offer or lease
agreement, in compliance with §475.25(1)(q), Florida
Statutes, and Rule 21V-10.033, Florida Administrative Code.
Compensation (if applicable) - The Buyer
acknowledges that Shuler & Shuler Real Estate Auctioneers, Inc. is an agent
for the Seller & is being paid by the Seller. Pursuant to
Rule 2-13.003(2),
14.
Radon Gas - Notice to Prospective Purchaser/Tenant - Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in
sufficient quantities, may present health risks to persons who are exposed to
it over time. Levels of radon that
exceed federal and state guidelines have been found in
buildings in
15. By registering at this
Auction, you have entered into a contract and agree to these and all other
Terms and Conditions.
16. Buyer
may conduct a risk assessment or inspection for the presence of lead-based
paint and/or lead-based paint hazards prior to Auction. Buyer waives this opportunity on Auction day.
This
Auction is being conducted by Shuler & Shuler Real Estate Auctioneers,
Inc., Debbie Shuler, Lic. R.E.
Broker, 428 Julia Street, Titusville, Florida 32796 & Cliff Shuler -
Auctioneer AB#9/AU#14 (321) 267-8563 retc