Terms Of Use
Bid Now! Acknowledgment
Bid Now! Allow you to make an offer on a property prior to or after the auction event. Click the Bid Now! Button on the property details page to get started. All offers will be considered in the order that they are received and may be approved at any time. Upon approval, the property will be considered ‘SOLD’ and no other offers will be considered. Often bids are approved well before the final day. Submit your ‘highest and best’ bid quickly but no later than the deadline date of submission (see individual property for details). By placing a bid on an Occupied Property, Bidder acknowledges and agrees that Bidder shall have no right to cancel the transaction and shall be bound by the terms of the Purchase Agreement and other related purchase documentation.
A Buyer’s Premium will be added to the High Bid amount. See property details for amount.
Unless otherwise stated:
Selling agent commissions vary by property and by Seller. Any additional incentives and bonuses will be disclosed per property by your ERealtyauction representative. Please pay close attention to the Property Details page for each of your properties of interest as local and state rules may apply.
Should you have questions, please do not hesitate to contact the auction information office at 305-456-4802.
Good luck in your bidding!
READ THESE TERMS OF SALE AND AUCTION PARTICIPATION CAREFULLY.
BY PARTICIPATING IN THE AUCTION, YOU AGREE TO THESE TERMS AND MAKE REPRESENTATIONS AS SET OUT HEREIN. THESE TERMS ARE LEGALLY BINDING AND IF YOU VIOLATE ANY OF THEM EREALTYAUCTION (EREALTYAUCTION AND ITS EMPLOYEES, AGENTS AND REPRESENTATIVES (HEREAFTER ARE REFERRED TO AS “AUCTIONEER”) OR SELLER MAY SEEK LEGAL RELIEF INCLUDING BUT NOT LIMITED TO REPORTING YOUR CONDUCT TO APPROPRIATE LAW ENFORCEMENT ENTITIES. PLEASE NOTE THAT THESE TERMS INCLUDE AN AGREEMENT BY WHICH YOU INDEMNIFY SELLER AND AUCTIONEER FOR ANY DAMAGES AS A RESULT OF YOUR BREACH OF THE TERMS STATED HEREIN.
TERMS OF AUCTION AND SALE (“TERMS”):
FOR ONLINE AUCTIONS-SUCCESSFUL BIDDER ON A PROPERTY WILL BE REQUIRED TO PUT DOWN 10% OF THE PURCHASE PRICE, WHICH MUST BE IN THE FORM OF A DEPOSIT MONEY CHECK MADE PAYABLE TO THE ESCROW AGENT.
THIS IS A CASH SALE OR FINANCING OPTIONS AVAIALBLE AS PER EACH PROPERTY AUCTIONED. EARNEST MONEY IS NOT CONSIDERED AN “OPTION” PAYMENT. YOU ARE AGREEING TO CLOSE ON THE PROPERTY WHEN YOU SUCCESSFULLY BID ON THE PROPERTY. IF YOU ARE NOT CERTAIN THAT YOU WANT TO PURCHASE THE PROPERTY, DO NOT BID ON IT. IF YOU HAVE NOT INSPECTED THE PROPERTY AND DESIRE TO DO SO BEFORE PURCHASING THE PROPERTY, DO NOT BID ON THE PROPERTY UNTIL YOUR INSPECTION IS COMPLETE.
IF THE BID IS ACCEPTED THE EARNEST MONEY DEPOSIT WILL NOT BE REFUNDED UNDER ANY CIRCUMSTANCES UNLESS AS OTHERWISE STATED IN THE PURCHASE AND SALE AGREEMENT. SUCCESSFUL BIDDERS MUST HAVE ADEQUATE FINANCIAL RESOURCES TO FULFILL BID COMMITMENTS. IF YOU SUCCESFULLY BID ON A PROPERTY, YOU CONTRACT TO PURCHASE THE PROPERTY FOR THE BID AMOUNT. FURTHER, BY PARTICIPATING IN THE AUCTION YOU ARE REPRESENTING TO AUCTIONEER AND SELLER THAT YOU HAVE ADEQUATE FINANCING AND YOU HAVE DONE SUFFICIENT DUE DILIGENCE TO BID ON THE PROPERTY AND PAY THE AMOUNT BID. BY PARTICIPATING IN THE AUCTION, YOU ACKNOWLEDGE THAT AUCTIONEER AND SELLER ARE RELYING ON YOUR REPRESENTATION OF SUFFICIENT FUNDING. YOU FURTHER ACKNOWLEDGE BY YOUR PARTICIPATION IN THE AUCTION THAT AUCTIONEER AND SELLER WILL BE INJURED IF YOU DO NOT HAVE SUFFICIENT FINANCING OR HAVE NOT ALREADY SATISFIED YOURSELF AS TO THE CONDITION OF THE PROPERTY AND ITS VALUE, INCLUDING LOSSES OF RESOURCES USED TO MARKET THE PROPERTY AND CONDUCT THE AUCTION.
THE SUCCESSFUL BIDDER FOR EACH PROPERTY SHALL EXECUTE A ”PURCHASE & SALE AGREEMENT” (THE “AGREEMENT”) FOR EACH PROPERTY WITHIN 24 HOURS AFTER BEING DECLARED THE SUCCESSFUL BIDDER BY AUCTIONEER. COPIES OF THIS AGREEMENT ARE AVAILABLE FOR REVIEW PRIOR TO THE AUCTION AT THE WEBSITE EREALTYAUCTION.COM OR BY CALLING AUCTIONEER.
IF YOU HAVE EVER PROVIDED A CASHIER’S CHECK OR A PERSONAL CHECK OR COMPANY CHECK FOR YOUR EARNEST MONEY DEPOSIT WHICH HAS BEEN RETURNED FOR ANY REASON INCLUDING BUT NOT LIMITED TO BEING DECLARED “NSF”, BEING DRAWN ON A CLOSED ACCOUNT, BEING FRAUDULENT, OR HAVING A STOP ORDER PLACED ON IT, YOU ARE NOT ELIGIBLE TO PARTICIPATE IN ANY BIDS AND MAY NOT PARTICIPATE IN ANY LIVE OR ONLINE AUCTIONS. AT THE LIVE AUCTION EVENT YOU MAY BE ASKED TO LEAVE.
IF DESPITE THIS NOTICE YOU APPEAR AT THE AUCTION AND ATTEMPT TO PARTICIPATE IN THE BIDDING ON ANY PROPERTY, YOUR BIDS WILL BE DISREGARDED AND THE OTHER BIDDERS MAY BE INFORMED THAT YOU ARE NOT ELIGIBLE TO PARTICIPATE IN THE AUCTION AND TO DISREGARD YOUR BIDS.
PLEASE REVIEW THE SPECIFIC AGREEMENT RELATING TO EACH PROPERTY TO DETERMINE CLOSING REQUIREMENTS.
SPECIAL NOTE & BUYER’S PREMIUM FEE: A BUYER’S PREMIUM FEE WILL BE ADDED TO THE FINAL BID AMOUNT ON EACH PROPERTY SOLD AT THIS AUCTION. THE BID AMOUNT PLUS THE BUYER’S PREMIUM FEE EQUALS THE FINAL PURCHASE PRICE.
CLOSING: ALL PROPERTIES MUST CLOSE ON OR BEFORE 30 TO 45 DAYS AFTER THE AUCTION, DEPENDING ON SELLER. ALL PROSPECTIVE BIDDERS SHOULD CONSIDER ENGAGING COUNSEL OF THEIR OWN CHOOSING TO EXAMINE THE COMMITMENT FOR TITLE INSURANCE AND ALL MATTERS REFERRED TO THEREIN AS AFFECTING THE STATE OF TITLE OF PROPERTIES ON WHICH THEY INTEND TO BID. SELLER AND AUCTIONEER MAKE NO WARRANTIES OR REPRESENTATIONS, EXPRESSED OR IMPLIED, WRITTEN OR ORAL, WITH RESPECT TO THE STATE OF TITLE ON ANY OF THE PROPERTIES, THE TITLE COMPANY, OR OF THE CORRECTNESS OR COMPLETENESS OF THE INFORMATION CONTAINED IN THE COMMITMENT FOR TITLE INSURANCE. UNLESS OTHERWISE STATED, SELLER SHALL PAY ALL CURRENT AD VALOREM TAXES AND FEES ASSESSED AGAINST THE PROPERTY UP TO THE DATE OF CLOSING.
BUYER’S NOTE: ANY PERSON ATTENDING THE AUCTION IS A GUEST OF AUCTIONEER AND SUBJECT TO REMOVAL BY AUCTIONEER AT ITS DISCRETION. ON THE DAY OF SALE, NO MODIFICATION TO THE AGREEMENT WILL BE ACCEPTED. FAILURE TO EXECUTE THE AGREEMENT IN THE FORM PRESENTED OR TO RENDER THE EARNEST MONEY DEPOSIT ON THE DAY OF SALE MAY RESULT, AT SELLER’S OPTION, IN A VOIDING OF THE SALE AND RESULTING IN THE SALE OF THE PROPERTY TO THE NEXT HIGH BIDDER OR PLACEMENT OF THE PROPERTY BACK IN THE AUCTION.
AUCTIONEER RESERVES THE RIGHT TO ADD OR DELETE ANY PROPERTY FROM THIS AUCTION OR TO ALTER THE ORDER OF SALE FROM THAT PUBLISHED HEREIN OR ELSEWHERE. BIDDERS ARE RESPONSIBLE TO PERFORM DUE DILIGENCE INCLUDING BUT NOT LIMITED TO PERSONAL ON-SITE INSPECTION OF EACH PROPERTY PRIOR TO THE AUCTION. ALL PROPERTIES SELL “AS IS-WHERE IS” WITH NO WARRANTIES EXPRESSED OR IMPLIED. ALL PROPERTIES WILL BE CONVEYED BY SPECIAL WARRANTY DEED, UNLESS OTHERWISE STATED. THE INFORMATION SET FORTH HEREIN HAS NOT BEEN INDEPENDENTLY VERIFIED BY SELLER OR AUCTIONEER. ITS ACCURACY IS NOT WARRANTED IN ANY WAY, INCLUDING BUT NOT LIMITED TO INFORMATION SET FORTH HEREIN CONCERNING UTILITIES, LEASE INFORMATION, ZONING, ACREAGE OF PARCEL, SQUARE FOOTAGE OF IMPROVEMENTS AND ALL PHOTOGRAPHS. BUYER AGREES THEY ARE NOT RELYING ON THE INFORMATION PROVIDED IN DECIDING WHETHER TO BID ON THE PROPERTY AND HAVE CONDUCTED THEIR OWN DUE DILIGENCE INVESTIGATION PRIOR TO THE AUCTION. THERE IS NO OBLIGATION ON THE PART OF SELLER OR AUCTIONEER TO UPDATE THIS INFORMATION. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL OTHER ADVERTISING. SELLER AND AUCTIONEER DO NOT HAVE ANY LIABILITY WHATSOEVER FOR ANY ORAL OR WRITTEN REPRESENTATION, WARRANTS OR AGREEMENTS, RELATING TO THE PROPERTY (INCLUDING INFORMATION APPEARING IN THE AUCTION BROCHURE OR ANNOUNCEMENTS MADE AT THE TIME OF THE AUCTION) EXCEPT THOSE OF SELLER AS EXPRESSLY SET FORTH IN THE AGREEMENT.
BUYER IS RESPONSIBLE FOR VERIFICATION OF THE LEGAL DESCRIPTION OF PROPERTY. SELLER AND AUCTIONEER MAKE NO WARRANTY EXPRESSED OR IMPLIED AS TO THE ACCURACY OF THE SAME.
Reserve Auction. Unless otherwise noted in the Property Details Page for a particular Property, the Auction will be a reserve Auction. The reserve Auction will have an undisclosed Reserve Price. The starting bid is not
the Reserve Price.
PROPERTIES IDENTIFIED IN THE AUCTION BROCHURE AND/OR ON THE WEBSITE AS “ABSOLUTE” ARE SOLD TO THE HIGHEST BIDDER ON THE DAY OF SALE. PROPERTIES NOT IDENTIFIED AS “ABSOLUTE” ARE BEING AUCTIONED WITH A RESERVE. ALL PROPERTIES SUBJECT TO A RESERVE ARE NOT SOLD UNTIL SELLER APPROVAL.
Except where prohibited by law, the Auctioneer may open bidding on any Property by placing a bid on behalf of the Seller and may further bid on behalf of the Seller up to the amount of the Reserve Price by placing successive or consecutive bids for a Property or by placing bids in response to other Bidders. Any such bids placed by the Auctioneer will not result in a Winning Bid. If the Reserve Price has not been met, the Seller (or Servicer, if applicable) is under no obligation to sell or approve the sale of the Property.
Seller may withdraw the Property at any time prior to the Seller's execution of the Purchase Agreement; in such case neither Seller nor Auctioneer will be responsible for any reimbursement of expenses incurred by the Bidder.
THERE IS NO MINIMUM -STARTING BID REQUIRED ON ANY UNIT. Even if you secure the Highest Bid at the Auction, you may not be designated as the Winning Bidder. If the Reserve Price is not met or the Seller (or the Servicer, if applicable) does not otherwise approve the Highest Bid, you will not become the Winning Bidder and instead are the Highest Bidder. In the event that you are the Highest Bidder, you will not be eligible to purchase the Property unless the Seller (and the Servicer, if applicable) expressly accepts the bid and the Auctioneer acknowledges the Highest Bidder as the Winning Bidder.
Subject to Seller/Servicer Approval. Highest Bidder acknowledges and agrees that its purchase may be subject to, and contingent upon, the Seller (and the Servicer, if applicable) approving the purchase. The Seller
(and the Servicer, if applicable) can have the option to accept or deny, at its sole and absolute discretion, the Highest Bid within thirty (30) calendar days following the acknowledgment of becoming Highest Bidder. At the sole and absolute discretion of the Auctioneer or the Seller (and the Servicer, if applicable), timeframes may be adjusted. Please review the Auction's Website and the Property Details Page.
THERE IS NO OBLIGATION ON THE PART OF SELLER TO ACCEPT ANY BACKUP BIDS IN THE EVENT THE HIGH BIDDER FAILS TO PERFORM AND SELLER CAN RECEIVE AND CONSIDER MULTIPLE BIDS AT THE SAME TIME. THERE IS NO ENFORCEABLE AGREEMENT UNTIL THE AGREEMENT HAS BEEN FULLY EXECUTED BY BOTH SELLER AND BUYER AND THE EARNEST MONEY DEPOSIT HAS BEEN RECEIPTED BY THE TITLE COMPANY.
AGENCY DISCLOSURE: Auctioneer and any licensees employed by, affiliated with, or associated with the Auctioneer DO NOT represent the Bidder or buyer in any form or manner. Auctioneer and all licensees employed by, affiliated with or associated with Auctioneer represent the Seller (and the Servicer, if applicable) in the sale of the Properties.
REAL ESTATE BROKER/AGENT/AGENT participation invited. The Auctioneer invites BROKER/AGENT/Agent participation. A BROKER/AGENT/Agent must be duly licensed as a real estate BROKER/AGENT or agent in the state in which the Property is located in order to be eligible to receive a commission.
The BROKER/AGENT/Agent will be required to create a profile on the Website as a user In order to be eligible to receive a commission, the Bidder’s BROKER/AGENT/Agent information must be provided via the Website prior to the Auction Event, either within the Event registration process, or subsequently in the high bid confirmation process.
BROKER/AGENT commissions vary by property and auction type and will be calculated before inclusion of the buyer’s premium fee, COMMISSIONS will be based upon the Winning Bid amount.
A commission will be paid to BROKER/AGENTs who represent a purchaser on any auction property.
BROKER/AGENT must perform the duties below to receive a selling commission for representing the buyer:
Each step must be completed. If any of these steps have been omitted, the BROKER/AGENT will not be paid a commission.
THERE WILL BE NO EXCEPTIONS. BIDDERS WILL BE REQUIRED TO ACKNOWLEDGE BROKER/AGENT RELATIONSHIP AS THEY REGISTER PRIOR TO THE SALE AND WHEN THEY INITIALLY SUBMIT THEIR OFFER THROUGH BID NOW! ONLINE. BY BIDDING, EACH BIDDER AND BROKER/AGENT AGREE TO INDEMNIFY AND HOLD HARMLESS SELLER AND AUCTIONEER FOR ANY AND ALL CLAIMS FOR COMPENSATION MADE BY ANY PERSON OR ENTITY IN CONNECTION WITH THE AUCTION.
FOR LIVE AUCTIONS ON-SITE SOLICITATION OF BUYERS ON THE DAY OF THE AUCTION IS PROHIBITED AND IS GROUNDS FOR REMOVAL FROM THE AUCTION AT THE SOLE DISCRETION OF AUCTIONEER. NO COMMISSIONS WILL BE CONSIDERED EARNED AND SHALL NOT BE PAID TO A BROKER/AGENT THAT SOLICITS A BUYER ON-SITE THE DAY OF THE AUCTION.
NOTE: FOR CERTAIN PROPERTIES NEITHER SELLERS NOR AUCTIONEER WILL PAY COMMISSIONS TO A BROKER/AGENT PARTICIPATING IN THE PURCHASE OF THE PROPERTY. BROKER/AGENTS MAY NOT REPRESENT THEMSELVES OR ANY IMMEDIATE FAMILY MEMBERS (I.E. SPOUSE, SIBLING, PARENT, ETC.). IN ADDITION, BROKER/AGENTS MAY NOT BE A PARTY TO ANY ENTITY SUCH AS A CORPORATION, BUSINESS OR TRUST PURCHASING A PROPERTY. PLEASE CHECK WITH AUCTIONEER FOR DETAILS ON THE APPLICABILITY OF THIS FOR THE SPECIFIC PROPERTY IN WHICH YOU ARE INTERESTED.
Disclaimers:
NO REPRESENTATIONS OR WARRANTIES: PROPERTY SOLD "AS IS, WHERE IS".
BUYER ACKNOWLEDGES AND UNDERSTANDS THAT THE PROPERTY IS BEING SOLD “AS IS, WHERE IS AND WITH ALL FAULTS.” BUYER IS HEREBY INFORMED THAT SELLER MAY BE UNAWARE OF ANY LATENT DEFECTS IN THE PROPERTY OR ANY APPURTENANT SYSTEMS INCLUDING BUT NOT LIMITED TO PLUMBING, HEATING, AIR CONDITIONING AND ELECTRICAL SYSTEMS, FIXTURES, APPLIANCES, ROOF, SEWERS, SEPTIC, SOIL CONDITIONS, GEOLOGICAL CONDITIONS, FOUNDATION, STRUCTURAL INTEGRITY, ENVIRONMENTAL CONDITION, POOL OR RELATED EQUIPMENT. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES AS TO ANY OF THE ABOVE, THE CONDITION OF THE PROPERTY, THE PROPERTY'S SYSTEMS, THE SERVICEABILITY, HABITABILITY OR FITNESS FOR A PARTICULARY USE OR PURPOSE OF THE PROPERTY OR ANY COMPONENT OR SYSTEM OF THE PROPERTY. BUYER AGREES TRAT IN CONTRACTING TO BUY THE PROPERTY, BUYER HAS NOT RELIED TO BUYER'S DETRIMENT UPON ANY REPRESENTATION OR WARRANTY MADE BY SELLER, ANY PARENT, SUBSIDIARY OR AFFILIATE OF SELLER OR ANY OF SELLER'S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ASSET MANAGERS, BROKER/AGENTS OR REPRESENTATIVES OR AUCTIONEER OR ITS RELATED ENTITIES, PARENT, SUBSIDIARY, REPRESTATIVES, OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS.
Professional Inspection Encouraged.
BUYER IS ENCOURAGED TO OBTAIN THE SERVICES OF A QUALIFIED AND EXPERIENCED PROFESSIONAL TO CONDUCT INSPECTIONS, ASSESSMENTS AND TESTS PRIOR TO THE END OF THE INSPECTION PERIOD, AS THE EXISTENCE OF CERTAIN CONDITIONS, INCLUDING BUT NOT LIMITED TO THOSE LISTED BELOW, COULD CAUSE SERIOUS HEALTH PROBLEMS AND/OR A SUBSTANTIAL REDUCTION IN PROPERTY VALUE. TO INSPECT PROPERTY, PLEASE CHECK INSPECTION DATES AND TIMES FOR EACH PROPERTY PRIOR TO BIDDING.
Buyer further acknowledges and agrees that having been given the opportunity to inspect the property (unless the property of interest is occupied), Buyer is relying solely on Buyer’s own investigation of the property and not on any information provided or to be provided by Seller, BROKER/AGENT or Auctioneer.
No Warranties or Representations about Tenancies. The Property may be subject to leasehold or other interests of various tenants or other occupants. Seller makes no warranties or representations as to whether or not any leases affect the Property, whether any leases are or will be in force; whether or not anyone has a right of possession; whether or not any rent concessions were given to any tenant; whether or not any agreements were made with any tenants or other parties or notices were provided to any tenant; whether or not any rent charged violates any applicable rent control ordinance, statute, or law; whether or not any other violations of any applicable ordinance, statute or law exist; and whether or not Seller or any tenant is in default under any lease. If the Property was acquired by Seller through foreclosure, deed in lieu- thereof, trustee's sale pursuant to a power of sale under a deed of trust, power of sale under a mortgage, sheriff's sale or similar action, Seller may not have 'any security deposits or prepaid rent to surrender to Buyer and shall not be under any obligation to do so. Buyer shall be responsible for notifying any and all tenants of the transfer of ownership of the Property, and shall be liable to any and all tenants for repayment of any outstanding security deposit, less lawful deductions. This provision shall survive the Closing and shall not be deemed to have merged into any of the documents executed or delivered at Closing. Seller's conveyance of title and delivery of possession will be subject to tenants or other parties in possession of the Property, if any.
PROSPECTIVE BIDDERS SHALL NOT HAVE ANY CONTACT WITH CURRENT OCCUPANTS OF THE PROPERTY WITHOUT SELLER’S WRITTEN CONSENT UNTIL AFTER CLOSING AND FUNDING. BUYER SHALL DEFEND, INDEMNIFY AND HOLD HARMLESS AGENTS, AUCTIONEERS, ATTORNEYS, SELLERS, AND REPRESENTATIVES FROM AND AGAINST ANY CLAIMS, DEMANDS, ACTIONS OR EXPENSES ARISING OUT OF ANY ACTION CONCERNING SECURITY DEPOSITS AND FOR ANY EVICTION OR UNLAWFUL DETAINER OR OTHER LITIGATION ARISING OUT OF OCCUPANCY, TENANCY OR LEASE OF THE PROPERTY.
BUYER, AT BUYER'S SOLE COST AND EXPENSE, SHALL HAVE THE OPPORTUNITY TO INSPECT THE PROPERTY, ITS CONDITION AND SURROUNDINGS, INCLUDING, BUT NOT LIMITED TO, ENVIRONMENTAL CONDITIONS, ASBESTOS, RADON GAS, LEAD-BASED PAINT , MOLD, PHYSICAL DEFECTS INCLUDING STRUCTURAL DEFECTS, ROOF, BASEMENT, MECHANICAL SYSTEMS SUCH AS HEATING AND AIR CONDITIONING, ELECTRICAL SYSTEMS, SEWAGE AND SEPTIC SYSTEMS, PLUMBING, SOILS, GEOLOGY, TOPOGRAPHY, EXTERIOR SITE DRAINAGE, TERMITE AND OTHER TYPES OF PEST AND INSECT INFESTATION OR DAMAGE CAUSED BY SUCH INFESTATION AND BOUNDARY OR OTHER PHYSICAL SURVEYS (COLLECTIVELY, THE “INSPECTIONS'). ANY AND ALL COSTS AND EXPENSES ASSOCIATED WITH THE INSPECTIONS, INCLUDING THE ESTABLISHMENT, CONNECTION AND COST OF ELECTRIC AND GAS SERVICE, SHALL BE REFERRED TO AS “INSPECTION COSTS". REGARDLESS OF WHETHER THE TRANSACTION CLOSES OR FAILS TO CLOSE DUE TO AN ISSUE STEMMING FROM THE INSPECTIONS, SELLER SHALL NOT BE REQUIRED TO REIMBURSE BUYER FOR ANY OF THE INSPECTION COSTS, WHICH SHALL BE PAID BY BUYER. SELLER DOES NOT SUPPLY SURVEYS, BOUNDARY SURVEYS OR FOOTPRINT SURVEYS.
BUYER FURTHER ACKNOWLEDGES AND AGREES THAT ANY INFORMATION PROVIDED BY OR ON BEHALF OF SELLER WITH RESPECT TO THE PROPERTY INCLUDING, WITHOUT LIMITATION, ALL INFORMATION CONTAINED IN ANY PROPERTY INFORMATION PACKAGE PREVIOUSLY MADE AVAILABLE TO BUYER BY SELLER AND BROKER/AGENT WAS OBTAINED FROM A VARIETY OF SOURCES AND SELLER, BROKER/AGENT AND AUCTIONEER HAVE NOT MADE ANY INDEPENDENT INVESTIGATIONS OR VERIFICATION OF SUCH INFORMATION AND MAKE NO REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. BUYER ACKNOWLEDGES THAT SELLER AND AUCTIONEER AND THEIR EMPLOYEES, AGENTS, AFFILIATES, AND ASSOCIATES RESERVE THE RIGHT TO PLACE BIDS ON PROPERTIES UP TO THE SELLERS’ RESERVE PRICE, IF DESIRED, AT THEIR SOLE DISCRETION. BUYER UNDERSTANDS THAT SELLER SHALL NOT TENDER BIDS ABOVE ITS RESERVE PRICE.
ASSESSMENTS. IF THE PROPERTY IS SUBJECT TO A SPECIAL ASSESSMENT LIEN IMPOSED BY A PUBLIC BODY PAYABLE IN INSTALLMENTS WHICH CONTINUE BEYOND CLOSING, BUYER SHALL BE RESPONSIBLE FOR AND PAY ALL AMOUNTS WHICH BECOME DUE AFTER CLOSING.
BUILDING AND ZONING CODES. BUYER SHOULD CONSULT THE LOCAL JURISDICTION FOR INFORMATION ON BUILDING AND ZONING CODES OR INFORMATION ABOUT TRANSPORTATION BELTWAYS AND/OR PLANNED OR ANTICIPATED LAND USE WITHIN PROXIMITY OF THE PROPERTY. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING COMPLIANCE OR CONFORMITY WITH ANY BUILDING OR ZONING CODES, LAWS, RULES, OR REGULATIONS.
CONDOMINIUM/PUD/HOMEOWNER'S ASSOCIATION. IF THE PROPERTY IS IN A COMMON INTEREST COMMUNITY, PLANNED URBAN DEVELOPMENT OR CONDOMINIUM COMMUNITY OR REGIME ("COMMUNITY"), UNLESS OTHERWISE REQUIRED BY LAW, BUYER ACKNOWLEDGES THAT BUYER, AT BUYER'S EXPENSE, WAS AND IS RESPONSIBLE FOR OBTAINING AND REVIEWING THE DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS AND/OR BYLAWS AND OTHER DOCUMENTATION (TOGETHER REFERRED TO AS "COMMUNITY DOCUMENTS") REGARDING THE COMMUNITY. BUYER ACKNOWLEDGES THAT, PRIOR TO BUYER'S EXECUTION OF THIS AGREEMENT, BUYER HAS REVIEWED THE COMMUNITY DOCUMENTS TO THE FULLEST EXTENT BUYER DEEMS NECESSARY AND, UPON EXECUTION OF THIS AGREEMENT, BUYER IS DEEMED TO HAVE ACCEPTED THE COMMUNITY DOCUMENTS OF THE COMMUNITY. BUYER FURTHER ACKNOWLEDGES THAT IT IS BUYERS RESPONSIBILITY FOR OBTAINING ANY APPROVAL OF NEW OWNERS OR OCCUPANTS, WHICH MAY BE REQUIRED BY THE COMMUNITY.
LEAD-BASED PAINT.
DISCLOSURE. BUYER UNDERSTANDS AND ACKNOWLEDGES THAT THE PROPERTY MAY HAVE BEEN BUILT PRIOR TO 1978 AND LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS MAY BE PRESENT ON THE PROPERTY. SELLER HAS PROVIDED TO BUYER, AND BUYER ACKNOWLEDGES RECEIPT OF, THE PAMPHLET "PROTECT YOUR FAMILY FROM LEAD IN YOUR HOME", ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE. IN ADDITION, SELLER AND BUYER HAVE EXECUTED AS AN ADDENDUM TO THIS AGREEMENT THE "DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS," IN ACCORDANCE WITH APPLICABLE LAW.
ACKNOWLEDGMENT AND WAIVER·. BUYER ACKNOWLEDGES THAT BUYER HAS BEEN PROVIDED THE OPPORTUNITY TO UNDERTAKE STUDIES, INSPECTIONS OR INVESTIGATIONS OF THE PROPERTY AS BUYER DEEMED OR DEEMS NECESSARY TO EVALUATE THE PRESENCE OF LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS ON THE PROPERTY. TO THE EXTENT THAT BUYER HAS WAIVED OR OTHERWISE DECLINED THE OPPORTUNITY TO UNDERTAKE SUCH STUDIES, INSPECTIONS AND INVESTIGATIONS, BUYER HAS KNOWINGLY AND VOLUNTARILY DONE SO AND SELLER SHALL HAVE NO RESPONSIBILITY OR LIABILITY WITH RESPECT TO ANY PRESENCE OR OCCURRENCE OF LEAD-BASED PAINT OR LEAD-BASED PAINT HAZARDS, SELLER DOES NOT MAKE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE PRESENCE OF LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS ON THE PROPERTY.
MEGAN'S LAW / REGISTERED SEX OFFENDER DISCLOSURE. THE BUYER AND SELLER AGREE THAT THE LISTING AND SELLING BROKER/AGENTS INCLUDING AUCTIONEER AND THEIR AGENTS ARE NOT RESPONSIBLE FOR OBTAINING OR DISCLOSING ANY INFORMATION CONTAINED IN THE SEX OFFENDER REGISTRY FOR THE STATE IN WHICH THE PROPERTY IS LOCATED. THIS INFORMATION MAY BE OBTAINED FROM THE LOCAL SHERIFF'S DEPARTMENT, VARIOUS INTERNET WEB SITES AVAILABLE TO THE PUBLIC OR OTHER APPROPRIATE LAW ENFORCEMENT AGENCIES. IF BUYER WANTS FURTHER INFORMATION, THE SELLER, LISTING BROKER/AGENT, SELLING BROKER/AGENT AND THEIR AFFILIATED LICENSEES RECOMMEND THAT BUYER OBTAIN INFORMATION FROM THESE SOURCES DURING THE INSPECTION PERIOD.
MOLD. MOLD IS NATURALLY OCCURRING AND MAY CAUSE HEALTH RISKS OR DAMAGE TO PROPERTY, IF BUYER IS CONCERNED OR DESIRES ADDITIONAL INFORMATION REGARDING MOLD, BUYER SHOULD CONTACT AN APPROPRIATE PROFESSIONAL. REAL PROPERTY (INCLUDING, BUT NOT LIMITED TO, A BASEMENT) IS OR MAY BE AFFECTED BY WATER OR MOISTURE DAMAGE, TOXIC MOLD AND/OR OTHER ENVIRONMENTAL HAZARDS OR CONDITIONS. SELLER FURTHER ADVISES BUYER THAT AS A CONSEQUENCE OF POSSIBLE WATER DAMAGE AND/OR EXCESSIVE MOISTURE, THE PROPERTY MAY BE OR HAS BEEN IRREVOCABLY CONTAMINATED WITH MILDEW, MOLD, AND/OR OTHER MICROSCOPIC ORGANISMS. BUYER IS ADVISED THAT: (A) EXPOSURE TO CERTAIN SPECIES OF MOLD MAY POSE SERIOUS HEALTH RISKS; (B) INDIVIDUALS WITH IMMUNE SYSTEM DEFICIENCIES, INFANTS, CHILDREN, THE ELDERLY, INDIVIDUALS WITH ALLERGIES OR RESPIRATORY PROBLEMS; AND (E) PETS ARE PARTICULARLY SUSCEPTIBLE TO EXPERIENCING ADVERSE HEALTH EFFECTS FROM MOLD EXPOSURE. BUYER ACKNOWLEDGES THAT SELLER BAS ADVISED BUYER TO MAKE BUYER'S OWN EVALUATION OF THE PROPERTY AND TO HAVE THE PROPERTY THOROUGHLY INSPECTED. BUYER HAS BEEN FURTHER ADVISED BY SELLER THAT ALL AREAS CONTAMINATED, WITH MOLD, AND/OR OTHER ENVIRONMENTAL HAZARDS OR CONDITIONS, SHOULD BE PROPERLY AND THOROUGHLY REMEDIATED. ADDITIONALLY, BUYER HAS BEEN INHABITANTS TO POTENTIALLY SERIOUS HEALTH RISKS AND/OR BODILY INJURY.
REMEDIATION. BUYER ACKNOWLEDGES THAT IT IS THE SOLE RESPONSIBIUTY OF BUYER TO CONDUCT ANY REMEDIATION ON THE PROPERTY. BUYER ALSO ACKNOWLEDGES THAT SELLER IS SELLING AND BUYER IS BUYING THE PROPERTY “AS IS, WHERE IS”. BUYER REPRESENTS AND WARRANTS TO SELLER THAT BUYER HAS BEEN GIVEN THE OPPRTUNITY TO CONDUCT INSPECTIONS AND EVALUATIONS OF THE PROPERTY TO BUYER'S COMPLETE SATISFACTION, AND THAT BY CLOSING ON THE PROPERTY BUYER ACCEPTS THE PROPERTY “AS IS, WHERE IS” AT THE TIME OF CLOSING. BUYER IS ELECTING TO PURCHASE THE PROPERTY FROM SELLER IN AN AS IS, WHERE IS CONDITION WITH FULL KNOWLEDGE OF THE POTENTIAL CONDITION OF THE PROPERTY, THE POTENTIALLY SERIOUS HEALTH RISKS, AND THE POTENTIAL LIABILITY THAT BUYER COULD INCUR AS THE OWNER OF THE PROPERTY FOR CLAIMS, LOSSES, AND DAMAGES ARISING OUT OF ANY TOXIC MOLD CONTAMINATION, AND/OR OTHER ENVIRONMENTAL HAZARDS OR CONDITIONS ON THE PROPERTY.
PERMITS AND REPAIRS.
BUYER'S RESPONSIBILITY. IF THE PROPERTY IS LOCATED IN A JURISDICTION THAT REQUIRES A CERTIFICATE OF OCCUPANCY, SMOKE DETECTOR CERTIFICATION, SEPTIC CERTIFICATION OR ANY SIMILAR CERTIFICATION OR PERMIT OR ANY FORM OF IMPROVEMENT OR REPAIR TO THE PROPERTY (COLLECTIVELY, "PERMITS AND REPAIRS''), BUYER ACKNOWLEDGES AND AGREES THAT BUYER SHALL BE RESPONSIBLE FOR OBTAINING ANY AND ALL OF THE PERMITS AND REPAIRS AT BUYER'S SOLE COST AND EXPENSE, INCLUDING BUT NOT LIMITED TO ANY CERTIFICATE OF USE OR OTHER CERTIFICATION REQUIRED BY THE ORDINANCE.
"AS IS. WHERE IS". BUYER IS PURCHASING THE PROPERTY IN ITS CURRENT "AS IS, WHERE IS" CONDITION. ANY REPAIRS TO THE PROPERTY IDENTIFIED BY BUYER OR WHICH MAY BE REQUIRED BY ANY LENDING INSTITUTION TO WHICH BUYER MAY HAVE APPLIED ARE THE RESPONSIBILITY OF BUYER. Seller will be under no obligation whatsoever to make any repairs to the Property. Should any lender or any insuring entity or agency require that certain repairs to the Property be made or that certain other conditions be met, Seller, at Seller's sole option, may comply with such requirement or terminate the Agreement. Furthermore, should any FHA Conditional Commitment or VA Certificate of Reasonable Value vary from the agreed upon Purchase Price (as the same may be adjusted pursuant to this Agreement) of the Property, then Seller, at Seller's sole option, may terminate the Agreement. Notwithstanding that repairs may be made to the Property pursuant to the terms of this Agreement and prior to Closing, Buyer acknowledges that Seller has not made and will not make any representations or warranties of any character as to the necessity for any such repairs, or the absence of any necessity therefore, or of the adequacy of any such repairs upon completion thereof. Buyer acknowledges and agrees that it is the sole responsibility of Buyer to inspect and verify, prior to Closing, the completion and adequacy of any and all such repairs.
Property Tax Disclosure Summary. Buyer should not rely on the Seller's or any previous owner's reported property taxes as the amount of property taxes that the Buyer may be obligated to pay in the year subsequent to purchase of the Property. A change of ownership, use, or property improvements may trigger reassessment or revaluation of the Property that could result in higher Property taxes. If Buyer has any questions concerning valuation, Buyer is encouraged to contact the local property appraiser's office for information.
Radon. Radon is a naturally occurring radioactive gas that when 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 may have been found in buildings in the state where the Property is located. Additional information regarding radon or radon testing may be obtained from the state or local health department or department of environment. Buyer confirms, acknowledges and agrees that Seller has provided Buyer with the opportunity to conduct Inspections related to the presence of radon on or about the Property.
Square Footage. Buyer acknowledges that the square footage of the Property has not been measured by Seller, Seller's or Auctioneer’s representatives or agents (including the square footage of the lot and home) and the square footage quoted on any marketing materials, advertisements, erealtyauction.com, brochures, MLS data, or any other publicly available source of information is deemed approximate and not guaranteed. Buyer further acknowledges that Buyer has not relied upon any such information and that such information does not constitute a representation and/or warranty of Seller. Buyer is buying the Property AS IS, WHERE IS and acknowledges Buyer's responsibility to perform all due diligence and investigation regarding Buyer's purchase of the Property, including the measurement of or confirmation of square footage of the Property.
Receipt of Disclosures. Buyer understands and acknowledges that any information provided by or on behalf of Seller with respect to the Property was obtained from a variety of sources and that Seller, Seller's representatives and agents have not made any independent investigation or verification of such information and make no representations as to the accuracy or completeness of any such information concerning the Property. Buyer agrees to accept delivery of this Agreement, any correspondence or communications related to this Agreement and any materials, reports, correspondence, communications and other information contemplated by this Agreement by electronic means, such as email or internet. Any such electronic delivery will not affect the validity or enforceability of this Agreement or Buyer's duties and obligations to perform under this Agreement.
SELLER AND AUCTIONEER AND THEIR EMPLOYEES, AGENTS, CONTRACTORS, OFFICERS AND DIRECTORS SHALL NOT BE LIABLE OR BOUND IN ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY, OR THE OPERATION THEREOF, THAT IS FURNISHED BY ANY REAL ESTATE BROKER/AGENT, AGENT, EMPLOYEE OR OTHER PERSON. BUYER ACKNOWLEDGES THAT SELLER OR AN AFFILIATED ENTITY OF SELLER MAY HAVE ACQUIRED THE SUBJECT PROPERTY BY FORECLOSURE OR BY DEED IN LIEU OF FORECLOSURE AND, ACCORDINGLY, HAS LITTLE OR NO FAMILIARITY THEREWITH. BUYER FURTHER ACKNOWLEDGES THAT SELLER HAS NOT BUILT THE PROPERTY, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE PHYSICAL CONDITION OR ANY OTHER ASPECT OF THE PROPERTY, INCLUDING WITHOUT LIMITATION THE STRUCTURAL INTEGRITY OF ANY IMPROVEMENTS ON THE PROPERTY, THE CONFORMITY OF THE IMPROVEMENTS TO ANY PLANS OR SPECIFICATIONS FOR THE PROPERTY THAT MAY BE PROVIDED TO BUYER, THE CONFORMITY OF THE PROPERTY TO APPLICABLE ZONING OR BUILDING CODE REQUIREMENTS, THE EXISTENCE OF SOIL INSTABILITY, PAST SOIL REPAIRS, SUSCEPTIBILITY TO LANDSLIDES, SUFFICIENCY OF UNDERSHORING, SUFFICIENCY OF DRAINAGE, OR ANY OTHER MATTER AFFECTING THE STABILITY OR INTEGRITY OF THE LAND OR ANY BUILDINGS OR IMPROVEMENTS SITUATED THEREON.
BUYER AND ANYONE CLAIMING BY, THROUGH OR UNDER BUYER HEREBY FULLY AND IRREVOCABLY RELEASE SELLER, BROKER/AGENT AND AUCTIONEER AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS FROM ANY AND ALL CLAIMS THAT BUYER MAY NOW HAVE OR HEREAFTER ACQUIRE AGAINST SELLER AND BROKER/AGENT, THEIR EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS FOR ANY COST, LOSS, LIABILITY, DAMAGE, EXPENSE, DEMAND, ACTION OR CAUSE OF ACTION ARISING FROM OR RELATED TO ANY CONSTRUCTION DEFECTS, ERRORS, OMISSIONS OR OTHER CONDITIONS, INCLUDING ENVIRONMENTAL MATTERS, AFFECTING THE PROPERTY, OR ANY PORTION THEREOF. THIS RELEASE INCLUDES CLAIMS OF WHICH BUYER IS PRESENTLY UNAWARE OR WHICH BUYER DOES NOT PRESENTLY SUSPECT TO EXIST IN HIS FAVOR WHICH, IF KNOWN BY BUYER, WOULD MATERIALLY AFFECT BUYER’S RELEASE OF SELLER, BROKER/AGENT AND AUCTIONEER. IT IS UNDERSTOOD AND AGREED THAT THE PURCHASE PRICE HAS BEEN ADJUSTED BY PRIOR NEGOTIATION TO REFLECT THAT THE PROPERTY IS SOLD BY SELLER AND PURCHASED BY BUYER SUBJECT TO THE FOREGOING.
BUYER ASSUMES ENTIRE RESPONSIBILITY AND LIABILITY FOR ANY CLAIM OR ACTIONS BASED ON OR ARISING OUT OF INJURIES, INCLUDING DEATH, TO PERSONS OR DAMAGES TO OR DESTRUCTION OR LOSS OF PROPERTY, SUSTAINED OR ALLEGED TO HAVE BEEN SUSTAINED BY BUYER, ITS AGENTS, PRINCIPALS AND/OR EMPLOYEES, IN CONNECTION WITH OR TO HAVE ARISEN OUT OF OR INCIDENTAL TO THE AUCTION, INCLUDING BUT NOTLIMITED TO THE PERFORMANCE OF THIS CONTRACT, REGARDLESS OF WHETHER SUCH CLAIMS OR ACTIONS ARE FOUNDED IN WHOLE OR IN PART UPON ALLEGED NEGLIGENCE OR NEGLIGENT MISREPRESENTATIONS OF SELLER, AUCTIONEER, OR THE EMPLOYEES, AGENTS, INVITEES, OR LICENSEES THEREOF. BUYER FURTHER AGREES TO INDEMNIFY AND HOLD HARMLESS SELLER, AUCTIONEER AND THEIR REPRESENTATIVES, AND THE EMPLOYEES, AGENTS, INVITEES AND LICENSEES THEREOF IN RESPECT OF ANY SUCH MATTERS AND AGREES TO DEFEND ANY CLAIM OR SUIT OR ACTION BROUGHT AGAINST SELLER, AUCTIONEER, AND EMPLOYEES, AGENTS, INVITEES, AND LICENSEES THEREOF.
RESOLUTION OF DISPUTES
ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THE TERMS STATED HEREIN, OR THE BREACH THEREOF, SHALL BE SETTLED BY ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION IN ACCORDANCE WITH ITS COMMERCIAL
[OR OTHER] ARBITRATION RULES, AND JUDGMENT ON THE AWARD RENDERED BY
THE ARBITRATOR(S) MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF.
NEITHER PARTY MAY FILE ANY LEGAL PROCEEDING TO CHALLENGE THIS ARBITRATION CLAUSE. THE PARTIES EACH WAIVE THE RIGHTS TO TRIAL BY A COURT AND JURY. THE ARBITRATION SHALL BE CONDUCTED UNDER THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION (“AAA”) BUT DOES NOT HAVE TO BE FILED BEFORE THE AAA. IN THE EVENT ANY SUCH RULES WHICH ARE CONTRADICTED BY THIS AGREEMENT THEN THIS AGREEMENT SHALL CONTROL. THIS AGREEMENT AND ALL ACTS AND TRANSACTIONS HEREUNDER SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA.
VENUE SHALL BE PROPER IN MIAMI-DADE COUNTY, FLORIDA, AND THE ARBITRATOR’S AWARD SHALL BE REDUCED TO A FINAL JUDGMENT AND MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF FOR EXECUTION.
ATTORNEYS' FEES, COSTS & EXPENSES
IN THE EVENT AUCTIONEER OR A PARTY IS REQUIRED TO DEFEND AGAINST OR BRING ANY ACTION OR LEGAL PROCEEDING, INCLUDING ARBITRATION ARISING OUT OF OR RELATING TO THIS AGREEMENT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PREVAILING PARTY IS ENTITLED TO SEEK AND RECOVER IN ADDITION TO ANY OTHER RELIEF THAT MAY BE GRANTED, THE REASONABLE ATTORNEYS’ FEES, COSTS AND EXPENSES INCURRED IN THE ACTION, PROCEEDING OR ARBITRATION AND THE NON-PREVAILING PARTY MUST PAY THE ARBITRATOR’S FEES AND EXPENSES OR REIMBURSE THE PREVAILING PARTY FOR PRIOR PAYMENT.
LEGAL COMPLIANCE
YOU AGREE THAT YOU WILL COMPLY WITH ALL APPLICABLE LAWS, REGULATIONS, AND ORDINANCES REGARDING YOUR ACTIVITIES AND USE OF THE WEBSITE, AND REGARDING YOUR PURCHASE OF ANY PROPERTY.
BY REGISTERING FOR THE AUCTION, BIDDER ACKNOWLEDGES HAVING READ, AGREED TO AND ACCEPTED THIS AGREEMENT, AS IT MAY BE UPDATED FROM TIME TO TIME PRIOR TO THE AUCTION. SUCH FORM OF ACCEPTANCE BY BIDDER IS BINDING AND BIDDER ACKNOWLEDGES THAT SUCH ACCEPTANCE SHALL BE BINDING AND ENFORCEABLE.
Yes, I have read and agreed with this terms and conditions of auction and sale.*