PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY
PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS:
• UPON CONCLUSION OF THE AUCTION: The winning bidder will be required to enter into a real estate contract after closing of auction. Along with a completed purchase contract, the winning bidder will be required to give a 10% non-refundable earnest money deposit at closing of auction. Successful bidder not executing and returning the completed contract and earnest money deposited by 4:00pm the day after the auction will be considered in default. Such default by the successful bidder will result in that bidders liability to both seller and Haldon Burgener Auction & Realty. Seller shall have the right to declare this contractual agreement canceled and recover full damage for its breach, to elect to affirm this contractual agreement and enforce its specific performance, or Seller can resell the property either publicly or privately with Haldon Burgener Auction & Realty and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Haldon Burgener Auction & Realty. In addition Haldon Burgener Auction & Realty also reserves the right to recover any damages separately from the breach of the Buyer.
• INDEMNIFICATION: Both the Successful Bidder and Seller shall indemnify Haldon Burgener Auction & Realty for and hold harmless Haldon Burgener Auction & Realty from any costs, losses, liabilities, or expenses, including attorney fees resulting from Haldon Burgener Auction & Realty being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
REAL ESTATE TERMS:
• BUYER’S PREMIUM: NO BUYERS PREMIUM will be charged on this auction.
• DATE OF CLOSING: The closing will take place within 30 days from the closing date of the auction and as specified in the real estate purchase contract.
• SETTLEMENT: Buyer shall pay seller the balance of the purchase price on or before closing. Closing will be held at Spurling title in Taylorville.
• POSSESSION: Possession of property at settlement.
• TAXES: All taxes will be prorated to the day of closing.
• TITLE: Buyer is entitled to and the Seller will provide clear, insurable title for property upon full payment.
• NO CONTINGENCIES: This Real Estate contract is NOT contingent on or subject to Buyers financing, appraisal, survey or inspections of any kind or any other contingencies as agreed to by bidders at registration prior to bidding.
• AGENCY: Haldon Burgener Auction & Realty is the Agent and Representative of the Seller only.
• CONDITION OF PROPERTY: Property is sold 'AS IS, WHERE IS, WITH ALL FAULTS, IF ANY'. Haldon Burgener Auction & Realty, the Sellers nor their representatives, agents, or employees make express or implied warranties or representations of any kind. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to bidding on the subject property. All information presented is subject to verification by all parties relying on it. All dimensions are approximate. No liability for its accuracy, errors, or omissions is assumed by the Seller, Haldon Burgener Auction & Realty or their Agents or Representatives. Buyer and or Bidder agrees to hold harmless and indemnify Haldon Burgener Auction & Realty and their Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
• DISCLAIMER: All information included herein was derived from sources believed to be correct, but is not guaranteed. Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
• DISPUTES: Any dispute between Haldon Burgener Auction & Realty or the Sellers or their Agents or Representatives and the Buyer will be arbitrated in Shelby County, IL or tried in a court of jurisdiction in Shelby County, Illinois at the discretion of both the Seller and Haldon Burgener Auction & Realty.
• CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of Haldon Burgener Auction & Realty. Haldon Burgener Auction & Realty reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of Haldon Burgener Auction & Realty are final. Haldon Burgener Auction & Realty reserves the right to bid on behalf of Buyer/Seller/Secured parties.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND HALDON BURGENER AUCTION & REALTY. AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.