On-Line and Live Auction Terms and Conditions
1. All bidders must be identified by an assigned number at the time of registration. By signing up at registration, Bidder agrees to the Terms and Conditions of the Auction. All bidders bidding by phone, by the internet and their agents agree to the Terms and Conditions of the auction and must comply with all conditions set forth by the Seller.
2. This auction is open to anyone financially qualified to purchase.
3. Property (Real Estate) is being sold "As Is, Where Is" with no representations and warranties, expressed or implied. Buyer is responsible for making his or her determination as far as the condition or any other concerns pertaining to the items up for auction. Buyer is responsible for conducting their due diligence.
4. Property is being sold subject to all highway and utility access, easements, and right-of-way zoning and regulations, government zoning and regulations, FEMA accuracy standards, environmental certification, and subdivision ordinances or regulations in effect thereon, and such other zoning or restrictions that are of record.
5. Bidders on the property 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.
6. Taxes for 2019 will be prorated between Seller and Buyer at the closing date.
7. Conveyance of real estate will be by Warranty Deed. Closing Attorneys: Burns, Henry and Kirksey will issue a good merchantable title. However, title insurance is highly recommended. Closing within 30 days on or before October 28, 2019.
9. Terms: Bidding On-Line requires a valid credit card to register. Forms of Payment: Credit Cards: Visa, MasterCard, Discover, American Express. Wire Transfer and Checks with a Letter of Guarantee. If you are the High Bidder and the Sellers agree to sell the property, each individual tract requires a $10,000 Down Payment for Earnest Money, any combination tracts requires a $25,000 Down Payment for Earnest Money and if sold as a Whole, a $50,000 Down Payment for Earnest Money will be due along with signing the Auction Sales Agreement Contract within one hour after the closing of the Auction. Each tract will be charged a Survey Accuracy Fee of $520.00 added to the Contract Price.The property offered at Auction today has been recently surveyed to assure accuracy. Any need for a new survey shall be determined by the Buyer with the Buyer bearing the cost of the survey.. A 10% Buyers Premium will be added to all final bids to arrive at the total contract price.
10. The Live / On-Line Auction with Ultimate Choice Bidding System starts on Saturday, September 28 at 10:00 AM. The Property will be offered in twenty-five ( 25 ) tracts. Starting with Tracts 1-9, then Tracts 10,11,12,13,& 17, then Tracts 19-29. High Bidders choice, offered by the acre. An opportunity to combine any tracts with a 5% raise and then to be sold by the dollar amount. And an opportunity to combine all tracts as a whole with a 5% raise and then to be sold by the dollar amount. Auctioneer's decision on combinations and grouping as a whole is final. Conduct of the auction and increments of bidding are at the sole direction and discretion of the Auctioneer.
11. Bidders/Buyers acknowledge and understand this is an On-Line and Live Auction. Under no circumstances shall Bidders/Buyers have any kind of claims against Stone Brothers Auction, LLC for internet service failure or missed calls. Bidders/Buyers are encouraged to leave their maximum bid before the auction closes or stay online during the live auction. Stone Brothers Auction, LLC reserves the right to extend the bidding, continue the bidding or close the bidding due to technical issues.
12. 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.
13. All announcements made by the Auctioneer at the auction will take precedence over any previously printed material or any other oral statements made. Buyers should not rely on any representations by any person. Disclaimer and Absence of Warranties: The information contained in the postcard, brochure, internet, and printed material is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the seller or Stone Brothers Auction, LLC. All sketches and dimensions in the postcard, brochure, internet, and printed material are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Again the property is sold "AS IS WHERE IS " with no warranties or representation, either expressed or implied, arising by operation of law concerning the property is made by the Seller or Auctioneers, and are hereby expressly disclaimed.
14. Tracts 22,23,24,26,27,28 & 29 share a Centerline of 25' non exclusive ingress/egress & utility easement. New owners will be responsible for the maintenance of the easement on their property. Also, new owners of Lot 24 will be responsible for the maintenance of the easement on their lot that connects to Lot 25.
15. All Zip Line Platforms located on a tract of land will become the property of the new owner after closing excluding the zip line cables. The Zip Line cables will be removed between October 27 and November 11, 2019, by J.T.Lemons one of the Owners. The new owners of the property will assume all responsibility and liability of the Zip Line Platforms after closing. Sold "AS IS, WHERE IS " with no warranties or guarantees implied or expressed.
16. All buildings on Tracts 13 and 24 or any other tracts become the property of the new owners at closing. Sold "AS IS, WHERE IS " with no warranties or guarantees implied or expressed.
17. All successful bidders will sign the Auctioneer's Sales Agreement at the auction site immediately following the close of bidding. All final bid prices are subject to the Seller's acceptance or rejection.
18. All disputes will be settled in Bradley County, Cleveland, TN.
19. Stone Brothers Auction, LLC and their representatives are exclusive agents of the Sellers in this transaction.