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This is a legal agreement between you, the user or buyer, and The SITE OWNER or Auction Co.|
Misrepresentation: PropertyAuctions247.com (hereinafter referred to as Auction Co.) at its sole discretion, may ban from further use any buyer or seller which Auction Co. believes to have in any way misrepresented itself or any property selling, failed to abide by the terms, or conducted any improper auction behavior as determined solely by Auction Co. Any seller who misrepresented their property and any buyer who improperly fails to carry through with a purchase will be banned from any further use and may be subject to additional legal actions.
All Properties on the auction sell subject to the Seller's acceptance or rejection of the high bid.
Personal Property: Unless specifically stated, no personal property is included in the sale of the Real Estate.
Real Estate Taxes: The high bidder will be responsible for any future real estate taxes and, in some instances, past real estate taxes as specified in the Auction Terms.
Utilities: Many properties sold via this website may have had utilities shut off. The buyer shall be solely responsible for the re-connection of any desired utilities at their sole cost and obligation.
NOTICE: Buyer's Premium. A buyer's premium will be added to all purchases in the amount of 3% or a minimum flat fee of $2,000 whichever is higher. The premium is added to the high bid amount to achieve the contract or sales price.
Failure to Complete Purchase. All purchases must be completed within the time frames specified in the Auction Terms. Failure to complete a transaction within those terms will cause you to lose your deposit on the Real Estate. In addition, all costs, responsibility, and liability for damages for failure to complete a purchase shall be borne by buyer. If for any reason buyers fail to complete their transaction within the time specified, the Auction Co. shall have the right but not the obligation, in its sole discretion, to resell said purchase at buyers sole risk and expense with the buyer being liable for any difference in price and any legal fees, without waiving any rights that Auction Co. or seller may have against buyer.
Seller Bidding: The SELLER, or their agent, RESERVE THE RIGHT TO BID on the seller's property in order to protect their investment.
Terms: All items sell AS IS - WHERE IS WITH ALL FAULTS and with no warranty of any type expressed or implied as to the merchantability or fitness for any particular purpose. All sales are made on an AS IS - WHERE IS WITH ALL FAULTS basis. All buyers are urged to physically inspect the property during the inspection period. No bids can be withdrawn after the auction for any reason. BUYER agrees that these terms as well as all other terms set forth below, can be amended or revised only in writing, signed by the auctioneer. BUYER also agrees that any oral representation made by the auctioneer shall not modify these "AS IS - WHERE IS WITH ALL FAULTS" terms. BUYER understands that any description given is not guaranteed, and BUYER will rely entirely on their own inspection. All information and descriptions contained in advertising this sale are believed correct, but no responsibility is assumed by Auction Co, or Seller for any errors or omissions.
Posted closing times and displays of Auction Co.'s current time are approximate. Auction Co. reserves the right to close early or extend auctions at any time at its discretion. It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times are based on the Central Time Zone.
Auction Co.'s Right to Terminate Purchase. If for any reason Auction Co. is unable to complete the sale of any purchase to buyer or provide such purchase free and clear of liens, even if the buyer was given notice that he is the high bidder and purchaser, Buyer agrees that the Auction Co. may terminate the purchase/agreement, in which case Auction Co.'s only liability shall be the return of any monies actually paid or deposited by buyer.
Consent to Suit in Michigan. In the event of legal proceedings arising from this contract or from the auction in connection therewith, buyer consents to being subject to the personal jurisdiction of the courts of the State of Michigan. Buyer also agrees that venue shall be in Huron County, Michigan and that the laws of the State of Michigan shall govern this Agreement and the parties’ transaction hereunder.
The BUYER expressly agrees to indemnify and save the Auction Co. and their assigns harmless from and against all claims, losses, expenses, damage or liability, (including, but not limited to, attorney's fees), directly or indirectly caused by or resulting from an act, including the negligent acts or omissions of the Auction Co., or anyone acting in his/her behalf in connection with or arising out of auction, except that the BUYER shall not be responsible to the Auction Co. for damages caused by or resulting from the Auction Co.'s sole negligence.
DISCLAIMER OF WARRANTY AND RELEASE
You expressly agree that use of this Web site is at your sole risk. Neither the Auction Co., its affiliates, nor any of their officers, directors, employees, agents, third-party content providers, or licensors (collectively, "Providers"), or the like, warrant that this Site will be uninterrupted or error-free; nor do they make any warranty as to the results that may be obtained from the use of this site, or as to the accuracy, completeness, reliability, security, or currency of the Site.
The Site may contain errors, omissions, inaccuracies, or outdated information. Further, Provider does not warrant reliability of any statement or other information displayed or distributed through the Site. Provider reserves the right, in its sole discretion, to correct any errors or omissions in any portion of the Site. Provider may make any other changes to this Site at any time without notice.
Provider makes reasonable commercial efforts to make the Site available at all times, however, Provider is not responsible for any service interruptions, including, but not limited to, interruptions that may affect aspects of the sale of property.
THIS SITE AND THE INFORMATION, CONTENT, AND MATERIALS ON THIS SITE ARE PROVIDED ON AN "AS IS," "WHERE IS," AND "WHERE AVAILABLE" BASIS. PROVIDER MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE SITE, THE CONTENT, INFORMATION, OR THE MATERIALS ON THIS SITE. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, PROVIDER EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, OF ANY KIND, WITH RESPECT TO ANY OF THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR ANY GOODS OR OTHER PRODUCTS OR SERVICES OFFERED, SOLD, OR DISPLAYED ON THIS SITE OR YOUR USE OF THIS SITE GENERALLY, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY OF INFORMATION, QUALITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. SOME JURISDICTIONS LIMIT OR DO NOT ALLOW THE DISCLAIMER OF IMPLIED OR OTHER WARRANTIES SO THE ABOVE DISCLAIMER MAY NOT APPLY TO THE EXTENT SUCH JURISDICTION'S LAW APPLIES TO THIS AGREEMENT.
In the event that you have a dispute with one or more users, you release Provider (and our officers, directors, agents, subsidiaries, employees, and parent companies) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.
LIMITATION OF LIABILITIES
YOU AGREE THAT PROVIDER AND ITS PROVIDERS SHALL NOT BE LIABLE FOR ANY DAMAGE, LOSS, OR EXPENSE OF ANY KIND ARISING OUT OF OR RESULTING FROM YOUR POSSESSION OR USE OF THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR FROM YOUR PURCHASE OR SALE OF PROPERTY THROUGH THIS SITE REGARDLESS OF WHETHER SUCH LIABILITY IS BASED IN TORT, CONTRACT, OR OTHERWISE. IN NO EVENT, INCLUDING, WITHOUT LIMITATION, A NEGLIGENT ACT, SHALL PROVIDER OR ANY OF ITS PROVIDERS BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, LOSS OR CORRUPTION OF DATA, LOSS OF GOODWILL, WORK STOPPAGE, COMPUTER FAILURE OR MALFUNCTION, OR INTERRUPTION OF BUSINESS), ARISING OUT OF OR IN ANY WAY RELATED TO THE MATERIALS, CONTENT, OR INFORMATION ON THIS SITE OR ANY OTHER PRODUCTS, SERVICES, OR INFORMATION OFFERED, SOLD, OR DISPLAYED ON THIS SITE, YOUR USE OF, OR INABILITY TO USE, THIS SITE GENERALLY, OR OTHERWISE IN CONNECTION WITH THIS AGREEMENT, REGARDLESS OF WHETHER PROVIDER OR ANY OF ITS PROVIDERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BECAUSE SOME STATES DO NOT ALLOW THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
Auction Terms: The complete terms which will govern the sale of the real estate can be found in the contract for the sale of the real estate also referred to as the BUY/SELL agreement. Bidders should review that document prior to bidding to familiarize themselves with those terms.
Buyers Premium: A Buyer Fee of $2,000 or 3% whichever is greater, will be added to the high bid and charged as a transaction fee (commission) to the buyer.
Deposit for Real Estate: A deposit of 3 percent (3%) of the purchase price or $1,000 whichever is greater, will be required of the successful bidders within three business days of the conclusion of the auction. A PropertyAuctions247.com representative will contact you if you are the high bidder to coordinate your deposit and BUY/SELL agreement signatures. Wire transfer, cash, cashier's check, personal or company checks are accepted for the deposit. This deposit is NOT refundable if you the buyer do not carry through with the purchase. Your bidding IS NOT conditional upon financing, so be sure you have arranged financing if needed and are capable of paying cash at the closing.
Conditions: All properties are sold "AS IS WHERE IS" with no warranties of any type expressed or implied as to the merchantability, usability, fitness for a particular purpose, or any matter of whatsoever type or nature. Potential buyers should inspect all properties before placing any bids. Any improvements which may need to be done will be the responsibility of the purchaser. All information advertised or stated was derived from sources believed to be correct but is not guaranteed. The Real Estate DOES NOT sell contingent upon financing, acceptable post-auction inspection, acceptable environmental reports, surveys, use requirements, other property sales and purchases, or any other matter whatsoever. The auction company retains the right to place bids on the behalf of any buyer, employee, principal, or seller. All property dimensions are only approximations. No new surveys or perk tests have been completed. Any surveys or perk tests desired will be the sole cost and responsibility of the buyer and are not a contingency of the sale. The property will be sold subject to any easements and building and use restrictions of record. The Real Estate will be sold free and clear of all liens of record, unless otherwise stated.
Inspection: Buyers shall rely entirely on their own information, judgment, and inspection of the property and records. Buyers can and should inspect prior to the auction. Acceptable inspection after the auction is not a contingency of your bidding so be sure you have inspected the property to your satisfaction prior to the auction. PropertyAuctions247.com cannot provide inspection or access to the property after the auction until the closing.
Closing: The balance of the purchase price will be due within 10 days of all paperwork being ready for closing but not later than 60 days after the auction. Possession will be given at the closing unless otherwise noted. Buyer will receive possession at close subject to tenant's rights if applicable.
Taxes and Assessments: Property Taxes which are due on the property on or before the date of the closing will be paid by the SELLER by proration. All property taxes due after the date of the auction will be the responsibility of the BUYER by proration. The BUYER will assume any dues or assessment balance which remains after the Seller pays for any dues or assessment installments which are due and payable on or before the date of the auction.
Deed and Title Insurance: Seller will provide at their cost, a deed to the property and an owners title insurance policy in the amount of the purchase price at closing.
Buyers Note: If you are the successful bidder, you must sign all the purchase agreements and make your deposit on the property within 3 business days of the conclusion of the auction. Individual purchases are to be considered as singular transactions, not contingent on any other purchases of properties on the auction. The ability to obtain financing is NOT a contingency of the sale. Properties will be sold subject to the acceptance or rejection of the high bid by the seller(s) within 10 days of the conclusion of the auction unless specifically stated that it is selling with No Minimums or Reserves. The auction will be conducted at the sole discretion of the auctioneer and any bids may be recognized at their discretion. Any exceptions to the above terms will be noted in the Additional Announcements information for each property.
Additional Buyer Costs: Unless otherwise stated, in addition to the Bid Price the Buyer will be responsible for the Buyers Premium, the closing costs customarily charged by the title company, and any post auction real estate taxes and assessments.
DISCLOSURE OF AUCTION CO. AS A TRANSACTION COORDINATOR
A transaction coordinator is a licensee who is not acting as an agent of either the seller or the buyer, yet is providing services to complete a real estate transaction.
The transaction coordinator is not an agent for either party and therefore owes no fiduciary duty to either party. The transactional coordinator is not the advocate of either party and therefore has no obligation to "negotiate" for either party. The responsibilities of the transaction coordinator typically include: providing access to and the showing of the property, providing access to market information, providing assistance in the preparation of a buy and sell agreement which reflects the term of the parties’ agreement, presenting a buy and sell agreement and any subsequent counter-offers, assisting all parties in undertaking all steps necessary to carry out the agreement, such as the execution of documents, the obtaining of financing, the obtaining of inspections, etc.
Do not bid unless you agree to all of the terms above. By bidding you are acknowledging agreement with the terms above. You must be at least 18 years old to bid.
* Do not wait until last second to bid, your bid may not work due to internet delay!