ONLINE REAL ESTATE AUCTION TERMS:
All property is being sold as-is with no guarantees of any kind. Bidders are strongly encouraged to investigate the subject properties PRIOR to bidding. Having second thoughts after the fact is not valid grounds to be released from a purchase agreement. Questions regarding the properties must be submitted prior to the auction.
Please note: AFTER THE AUCTION IS OVER IS TOTALLY THE WRONG TIME TO ASK QUESTIONS…THE DEAL IS DONE WHEN THE AUCTIONEER SAYS SOLD!
1. Immediately following the auction please contact our office at 1-877-907-3000 to coordinate transmission of contract documents and down payment.
2. A down payment is due NO LATER THAN MONDAY, DECEMBER 2, 2024 BY 5PM (CST). Internet buyers may hand-deliver down payment funds on auction day or wire transfer funds on the following Monday. Down-payments may not be made with a credit/debit card. Down Payments Will Be Made According to the Following Scale:
Purchase Price Down Payment
$300,000 and Below 10% up to a Maximum of $15,000
$301,000 - $500,000 $25,000 (Flat)
$501,000 - $1,000,000 $35,000 (Flat)
1,000,001 and Up $50,000 (Flat)
3. Your down-payment check will be deposited in escrow and will be applied to the purchase price at closing. Down-payments are non-refundable and failure to close on the purchase will result in forfeiture of the down-payment. The balance of purchase price is due in cash at closing. Closing costs will be shared equally between Buyer(s) and Seller. Closing shall take place within 45 days after the auction (on or before Tuesday January 14, 2025) at Polk County Title Co. located at 1320 W. Broadway in Bolivar, MO.
4. The sale of the real estate is NOT subject to any contingencies or financing.
5. The Seller shall provide a title search and a Warranty Deed. The cost of title insurance shall be at Buyer's expense if Buyer elects to secure a title insurance policy.
6. The Seller shall pay the 2020 and all prior year's real estate taxes; real estate taxes for 2021 shall be prorated to the date of closing.
7. If the Seller determines that a boundary survey is required to establish a legal description, then a survey shall be prepared. Buyer and seller shall share the costs of the survey equally, if required.
8. Possession shall not be granted until closing. No Buyer may inhabit the dwelling, make physical changes to any structure or land, nor store any items on the premises. Closing shall take place within 45 days from auction day.
9. The sale of the property does not include items that are portable in nature or items that have been specifically advertised separately from the property. This includes but is not limited to: all appliances, propane tanks and other items specifically advertised separately from the property.
10. Your bids are to be based solely upon your inspection. All real estate is being sold "as-is" without physical warranty of any kind. The Seller and the agents of Diamond S Auction & Real Estate Co. shall not assume any responsibility for warranty of any specific zoning classifications, location of utilities, assurance of building permits, water or septic permits. No warranties or guarantees as to the condition of the wells are made by the Seller or Auction Company. In short, all property is being sold "AS IS" with no guarantees of any kind.
11. A designated flood plain exists on the property.
12. All real estate is being sold subject to any existing recorded easements and restrictive covenants, if applicable.
13. At the close of the auction, Buyer(s) will be required to execute an Agreement to Purchase Real Estate and Addendum(s). This agreement is available for your review. The terms of this agreement and addendum(s) are non-negotiable.
14. Diamond S Auction & Real Estate Company, Inc. and its representatives are the exclusive agents of the Seller.