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Auction vs Traditional Sale

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Real Estate Sale Terms and Conditions

WALTER PARKER AUCTIONEER, INC. AUCTION TERMS & PROCEDURES

 Walter Parker, Auctioneer, Inc. offers the property listed in our advertising and the property on display for sale as agent for the sellers.  These “Terms & Procedures” control this auction in all regards and supersede all previous announcements, advertisements and published information, however distributed, except for any announcement made by auctioneer at the auction, which will take precedence and be controlling in all instances. By the making of any bid, whether in person, in writing, by telephone, by computer on the internet or by any other means, the buyer acknowledges his acceptance of these “Terms & Procedures”.  Auctioneer is not serving as an agent for the Bidder or any Buyer.

 All persons interested in bidding on the auction must register with Walter Parker, Auctioneer, Inc.  In order to register you must have a $3000 cashiers check made out to yourself or $3000 in cash.  You must be 18 years of age or older. You will fill out a registration card and sign it acknowledging the acceptance of our auction “Terms & Procedures”.

 Each potential bidder is invited, urged and cautioned to inspect the property for any structural, hazardous, asbestos or environmental conditions relating thereto prior to submitting a bid.  Bidders shall be deemed to have relied solely on their own judgment in assessing the overall condition of all or any portion of the property. Sellers and Walter Parker, Auctioneer, Inc. are offering to sell the property “AS IS” and with all faults, without warranty of any kind or character including, without limitation, any warranty of habitability or fitness for a particular purpose or warranty covering environmental issues of any nature whatsoever. Sellers and Walter Parker, Auctioneer, Inc. shall not be liable for any damages, whether actual or direct or incidental, including without limitation, damages from loss of use or loss of income occurring by reason of the condition of such property.

 Auctioneer shall call for bids and shall award the property to the highest bidder subject to the sellers confirmation.  Winning bidder shall immediately sign the sales contract and deposit 20% of the sale amount.  They will at this time endorse the $3000 cashiers check over to the title company and write a personal or business check for the deposit balance due.  The buyer will pay the 80% balance at closing within thirty days from the date of the auction.

 There is a 10% Buyers Premium charged on this auction.  The 10% will be added to the high bid to determine the final sale price.

 In the event of default by the buyer the 20% down payment will be forfeited as partial liquidated damages.

 This auction will be sold for cash.  This auction is not contingent on any financing.

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