On-Line Auction Terms and Conditions
1. By registering for this On-Line Auction, Bidders/Buyers are agreeing to these Terms and Conditions.
2. All Disputes will be settled in Bradley County, Cleveland, TN.
3. To participate a valid credit card is required for bidding.
4. Payment: Wire Transfer and Checks with a Letter of Guarantee. If you are the High Bidder and Sellers agree to sell the property, a $10,000.00 down payment will be due along with signing the Auction Sales Agreement Contract within one hour after the closing of the auction. Sells subject to the Owner's confirmation.
5. Property is being sold "AS IS, WHERE IS,” with no representations and warranties, expressed or implied. Bidders/Buyers are responsible for making his or her determination as far as the condition or any other concerns pertaining to the items up for auction. Bidders/Buyers will be responsible for all cost to connect to any utilities. Bidders/Buyers are responsible for conducting their due diligence.
6. Property is being sold subject to all highway and utilities right-of-way, government zoning, environment certification and subdivision ordinances or regulations in effort thereon, and such other restrictions that are of record.
7. Bidders/Buyers should have inspected the title to the property and the property itself prior to the auction day and qualified themselves financially. No buyer contingencies including financing to closing are acceptable.
8. Taxes for 2020 will be prorated between Seller and Buyer at the closing date.
9. Conveyance of real estate will be by Warranty Deed. Attorneys Burns, Henry, and Kirksey will issue a good merchantable title. However, title insurance is highly recommended.
10. Terms: A $ 10,000.00 Non-Refundable earnest money down payment will be required within one hour after the auction closes. The balance will be due in 30 days at closing. A 5% Buyers Premium will be added to ALL FINAL BIDS. Time is of the ESSENCE. Closing with Attorneys: Burns, Henry, and Kirksey, 175 Spring Street, NW, Cleveland, TN 37311.
11. This On-Line Auction closes on Friday, April 10, 2020, at 2:00 pm (EST).
12. No allowance will be made for errors in cataloging, genuineness, defects, or imperfections not noted.
13.Bidders/Buyers acknowledge and understand this is an On-Line Auction. Under no circumstances shall Bidders/Buyers have any kind of claims against Stone Brothers Auction, LLC for internet service failure or missed bids. Bidders/Buyers are encouraged to leave their maximum bid before the auction closes. Stone Brothers Auction, LLC reserves the right to extend the bidding, continue the bidding or close the bidding due to technical issues.
14. Bidders/Buyers hereby authorize Stone Brothers Auction, LLC to charge my credit card for the full amount due unless other methods of payment have been satisfied.
15. Auction End Times: Stone Brothers Auction, LLC On-Line Auctions are timed events and all bidding will close at the specified time. When you bid your maximum bid, the current bid price does not automatically advance to your maximum bid. Another Bidder/Buyer has to bid to increase the current price and the computer will automatically bid up to your maximum in the increments specified.
16. However, our auctions also have what is called an " Auto Extend" feature. Any bid placed within the final five minutes of auction results in the auction automatically extending 5 additional minutes. The bidding will extend in five-minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes. Therefore, the auction will not close until all bidding parties are satisfied, and no one can be outbid at the last seconds without having another opportunity to bid again.
17. Stone Brothers Auction, LLC represents the Sellers in this transaction.