By registering for this auction, the Bidder agrees to comply with the following Terms & Conditions. Failure to adhere to these conditions may result in the Bidder’s removal from the auction and future auctions.
Registration and Bid Card ID:
Bidders must register and receive a Bid Card ID in order to participate in the auction. Bidders with negative scores or unpaid auction properties from previous auctions will be removed.
Payment Terms:
The total amount due will be the final 'hammer' price plus a 10% buyer’s premium and a 1% Earnest Money Deposit (EMD).
The EMD & BP required within 5 days of auction close. A request for payment will be sent to the winning bidder, and
must be paid within this 5-day period. Both are non-refundable.
Earnest Money Deposit (EMD):
The EMD will be accompanied by a non-contingent Purchase Agreement. By placing a bid or submitting an EMD, the bidder accepts the terms of the Purchase Agreement.
Due Diligence:
Bidders are encouraged to conduct their own due diligence on the property and seek legal advice regarding the purchase. Failure to conduct due diligence will not constitute a waiver of these terms.
All properties are sold "AS-IS" with all faults and defects and without any warranty or guarantee.
Transfer of Real Estate Ownership:
Closing must occur within 30 days of auction close. Failure to close within this time will result in forfeiture of both the buyer’s premium and the EMD.
The closing will be handled by True North Title in Blacksburg, VA, unless otherwise specified by the seller.
Refunds:
All sales are final. No refunds or exchanges will be provided. The EMD and any other payments are non-refundable.
Bidder Responsibility:
By placing a bid, the bidder acknowledges they are entering into a legal and binding agreement to purchase the property at the final hammer price plus the buyer's premium and EMD.
Communication:
By registering for this auction, the bidder agrees to receive email and text message correspondence only related to the sale of the property.
Reserve and Seller's Right:
All properties are sold subject to a reserve price. If the final bid does not meet the reserve, the seller reserves the right to reject any and all offers.
The seller is under no obligation to sell the property or items unless the reserve price is met.
Auctioneer Rights:
The auctioneer reserves the right to reject any bid or bidder at any time, for any reason.
All sales are subject to the seller’s approval.