TERMS AND CONDITIONS An Important Closing Deposit Reminder From McKinley & Associates This auction is a cash sale not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding. Per the contract, ‘time is of the essence’; you should proceed to closing immediately upon acceptance of your offer. You must close the transaction on or before December 15th 2024. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve—you may be declared in breach of the contract, forfeit all deposits made, and could be additionally liable for any and all costs incurred by the seller and McKinley & Associates, in a subsequent resale of the property. In the event a winning bidder fails to submit the signed “Contract for Sale of Real Property” and earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. All administrative fees/deposits are non refundable. Additional default remedies are reserved by McKinley & Associates and the Seller as provided in the Auction Terms & Conditions and the “Contract for Sale of Real Property”. Bid with confidence, but please do not delay your closing! Terms: Real Estate – 20% Down (Non-Refundable) deposit due within 48 hours of the last bid/close of auction. Balance on or before 30 days. Possession given with deed upon full closing and final settlement. Property taxes for 2024 will be paid by seller. Sale of this property is not contingent upon financing. Perspective buyers/bidders should be certain of their purchasing capabilities before bidding. Real Estate and will sell under the condition of As/Is-Where/Is with no warranties expressed or implied whether in, on, or below the surface of the earth. Buyer assumes all risk and at no time will McKinley Auction & Real Estate Co. be responsible for (including but not limited to) condition, disposition of marketable title, merchantability, accidents, theft or loss of any kind, and etc. A 10% buyer’s premium will be added to the final bid of the real estate to determine selling price. Inspection of the real estate prior to auction date has been permitted and encouraged to the best of the bidder’s satisfaction, so please bid accordingly. Helpful Tips to Keep in Mind Before & During Your Bidding Process 1. Bidding confirms you’ve inspected the property and read and agreed to the terms of sale in the Property — DO NOT BID unless you have done this! 2. McKinley & Associates reserves the right to remove or cancel the bids and or bidding privileges of the party at any time deemed not to be in the best interest of the seller. 3. Anything the seller or we know about properties has been disclosed in the published materials. All properties are sold “as-is, where-is” with no warranties, expressed or implied. 4. You must make an earnest money deposit of 20% of contract price, and execute the Contract for Sale of Real Property within 48 hours of receipt of your contract package from McKinley & Associates. 5. You must close on the transaction on or before December 15th, 2024. there are no financing or inspection contingencies or other delays allowed. 6. You are not allowed possession of the property until after closing. NO EXCEPTIONS. 7. You will also be responsible for all of the closing costs. 8. All properties are subject to prior sale or removal from the auction. 9. Again, please read and review the terms and conditions. Be certain of your purchasing capabilities. Frequently Asked Questions Is this an Absolute Auction or does it require the seller to approve the winning bid? On a property selling at Absolute Auction, the property listing will display “ This property sells at Absolute Auction”, on the bidding page which means the seller agrees to sell this property for the highest bid received during this Auction “Regardless of Price”. A contract is made at the bid closing between the seller and the winning bidder. All other properties are offered subject to seller confirmation/approval of the final bid price. This method allows the seller to reserve the right to accept or decline any bid placed on the property. With either method our sellers are highly motivated to sell. The seller has elected to use the auction method to reduce their time in the market and convert the property to immediate cash. Bid with confidence! Can I use bank financing? Yes, however, there are no contingencies to these sales (i.e. financing, appraisal, repairs or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. Each property is being sold for cash “as-is, where-is” with a closing deadline of December 15th, 2024 Can I use my own attorney/title company to examine title? Yes, however, the terms of the auction and contract will govern the sale, specifically the designated Settlement Agent will conduct the closing and the buyer will pay said closing fees as indicated. Buyer may seek representation from other sources at their own expense. Am I responsible for the property before closing? No. Terms & Conditions Please read and review the terms and conditions thoroughly prior to bidding on any property. If you have not read and reviewed the terms and conditions please do so before bidding. McKinley & Associates has the sole authority to resolve any bidding disputes as they may arise. Auction End Times: Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. McKinley & Associates reserves the right to adjust the auto extend feature as needed to conduct the auction in the best manner possible. Example: McKinley & Associates Online Real Estate Auctions have an auto extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes in addition to the time remaining on the auction clock at the time the bid was placed. Example: If an auction scheduled to end at 6:00 p.m. receives a bid at 5:59 p.m., the close time of the auction automatically extends to 6:03 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 3 minute time frame. McKinley & Associates reserves the right to adjust the auto extension time period. Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, McKinley & Associates reserves the right reject the registration, and bidding activity is subject to termination. Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to McKinley & Associates. Successful bidders will deposit of 20% of contract price in the form of cashier's check or bank wire transfer with McKinley & Assoc. Auction & Real Estate Co. within 48 hours of receipt of the contract package. The remaining balance is due at closing as stipulated in the terms & conditions. Purchaser shall be responsible for all wire transfer fees. Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final contract price. 10% Buyer's Premium Example: Bid Price: $100,000 Plus 10% Buyer's Premium: $10,000 Total Contract Price: $110,000 Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and fax, email or hand deliver the package back to McKinley & Associates within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable. Auction Administrative Fee: In the event a winning bidder fails to submit the signed "Contract for Sale of Real Property" and deposit earnest money as provided in the pre-stipulated Auction Terms & Conditions, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by McKinley & Associates, and the Seller as provided in the Auction Terms & Conditions and the "Contract for Sale of Real Property". All administrative fees are non refundable. Closing: Time being of the essence, these sales shall be closed on or before December 15th, 2024. The purchaser will pay for all closing costs associated with the transaction. The 2024 property taxes will be paid by the seller. Agency Disclosure: In all transactions, McKinley & Associates are acting as agent for the seller, not as buyer's agent. McKinley & Associates reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid on the Seller’s behalf. McKinley & Associates/auctioneers or agents reserve the right to bid on this property at their discretion. Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidders to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold "AS IS", “WHERE-IS” with not warranties expressed or implied. All inspections prior to the end of this auction is allowed and encouraged to the best of the bidder’s satisfaction, then bid accordingly. Please review all information supplied, and seek appropriate assistance prior to bidding. Thanks for reading the fine print!