Auction Terms & Conditions
AUCTION TERMS AND CONDITIONS (Please Read Carefully)
PROPERTY ADDRESS: 18 Alexis Ct Swedesboro, NJ 08085 ?
AUCTION TYPE: Absolute Reserve X Subject to Confirmation
TAX LIENS: YES X No?
By registering to participate in this auction you certify that you are at least 18 years of age and that you have read and agree to be bound by the following terms and conditions.
Agency Disclosure: Realty Solutions, LLC (Auction Company) is a NJ Real Estate Brokerage. Realty Solutions, LLC and all licensees associated with the Auction Company represent the Seller ONLY in the sale of the property. Buyer(s) understand and acknowledge that Realty Solutions, LLC does not represent them in any dual agency capacity.
Buyers Premium: A Buyer’s Premium of 10% or $5,000.00 whichever is greater, in the form of certified funds, will be payable on each property sold at auction. Payment of the Buyer’s premium is the sole and absolute responsibility of the successful bidder on the property at time of the auction and is not contingent on the transfer of title to the property. The Buyer’s Premium is calculated by multiplying the successful bid or subsequent alternate purchase price agreed upon by the parties, by 10%.
Contract of Sale: The successful bidder for each property shall be required to sign a Winning Bid Acknowledgement immediately after being declared the successful bidder by the Auctioneer. The successful bidder must also execute and deliver an “Auction Purchase and Sale Contract” for each property no later than three (3) business days after being declared the successful bidder by the auctioneer. A sample copy of the Auction Purchase and Sale Contract is attached here and can also be viewed from our web site at MikeRyanHomes.com/Auction-Contract or you can receive a copy by mail or fax by emailing email@example.com. Please review the Purchase and Sale Contract with your attorney for approval prior to bidding.?
?Earnest Money Deposit: In addition to the Buyer’s Premium the successful bidder is required to pay $5,000.00 or 5% of the winning bid amount (whichever is higher), in the form of certified funds, as an Earnest Money Deposit at the time of the auction and it shall be credited toward the purchase price. The Buyer’s Premium and Earnest Money Deposit is non re-fundable and will be forfeited by the Purchaser to the Seller in the event the Purchaser defaults and does not close the transaction. .? . ?
Closing Period: Closings shall be on or before thirty (30) days from the date of the auction, unless the Seller agrees otherwise in writing pursuant to terms outlined in the Auction Purchase and Sale Contract. Time is of the essence as to the closing date. For any property being sold Subject to Confirmation, closing shall be within 30 days from the date of third party approval.
Financing: No auction bids are contingent upon financing. Buyer financing is solely the responsibility of the buyer, and at no cost to the Seller. It is recommended that buyers pre-qualify for loans, assuring that they can close in accordance with the terms in the purchase agreement. .
?Property Is Sold “As Is”: All parcels, including any buildings or other improvements thereon, are offered for sale and sold “AS IS” without representation or warranty of any kind as to their condition, excepting where applicable, the HUD Lead Paint Disclosure for Residential Properties and any other disclosures required by law. Personal on-site inspection of each property prior to the auction is strongly recommended. Bidders are encouraged to have inspectors, architects, and/or engineers examine parcels prior to bidding.
Bidders are encouraged to consider a title search and survey of the property prior to bidding. Bidders should exercise due diligence as to property usage, zoning and building code restrictions and or violations that may or may not exist as to the subject property. Property descriptions are deemed reliable but not guaranteed. Some properties may be subject to nonconforming use as a result of being vacated for more than twelve months. ??
Deed Transfer: All parcels sold shall be conveyed to the Purchaser by means of a Warranty Deed, with Lien Covenant. In no event shall Realty Solutions, LLC, be or become liable for any defects in title for any cause whatsoever, and no claim, demand or suit of any nature shall exist in favor of the purchaser, its heirs, successors or assigns, against Realty Solutions, LLC arising from this sale. ? . ?
Absolute Sales: In the event that the high bid on a property meets or exceeds the minimum price established by the Owner, the sale of such property shall be an absolute and final sale and shall bind all parties. ??
Reserve Sales: Until the seller's reserve price is met, Realty Solutions, LLC may "Counter Bid" on behalf of the seller. Realty Solutions, LLC bids may appear as "RSBID1" during the online auction. "Counter Bids" do not occur after the seller's reserve price is met. In the event that the high bid on a parcel is less than the minimum price established by the Owner, the sale shall be subject to approval by the Owner. The Owner shall have 72 hours to accept the bid or negotiate an alternate price. If the Owner does not accept the bid or negotiate an alternate price, the Purchaser’s Earnest Money Deposit and Buyer’s Premium shall be returned to Purchaser in full. If Owner agrees to accept the bid or agrees to an alternate purchase price, the sale shall be deemed final.
Subject to Confirmation: In the event that a property is being sold "Subject to Confirmation,” the sale shall be subject to approval by the Owner and/or other third party having a lien and/or ownership interest in the property. During the third party approval process, additional Addenda to the Auction Purchase Agreement may be necessary or requested by the third party approving the final bid amount. Bidder agrees to not unreasonably withhold acceptance of any such addenda within 48 hours of request. The Owner and/or other third party shall have 120 days to accept the bid or negotiate an alternate price. If the Owner and or/other third party does not accept the bid or negotiate an alternate price, the Purchaser’s Earnest Money Deposit and Buyer’s Premium shall be returned to Purchaser in full. If Owner or other third party agrees to accept the bid or agrees to an alternate purchase price, the sale shall be deemed final.
Internet Bids: The Auctioneer reserves the right to accept “Internet Bids” during or before a live auction event, whereby potential bidders unable to attend the live auction may place a bid via the Internet for a specific property. Internet bids will be announced as the opening bid at the start of the live auction or as an Internet Bid during the live auction.
Offline Bids: The Auctioneer reserves the right to accept “Offline Bids” during an online auction event, whereby potential bidders unable to attend the online auction may place a bid offline via phone, fax, mail or email for a specific property. Offline bids may be recorded as “Offline Bid” or "RSBID" during the online auction.
Bid by Mail: The Auctioneer reserves the right to accept bids by mail during a live or online auction. Once a bid is received by mail it will be announced as a “BID BY MAIL" during live auctions and may be recorded as “Offline Bid” or “RSBID" during online auctions. The successful bidder will be notified via mail and/or telephone at the end of the auction. Bids submitted by mail are subject to the same approvals as all other bidders at the online or live auction.
Bidding: Each bid is, by law, an irrevocable offer to purchase and each higher bid shall cancel an earlier bid. Once the highest bid is determined, the Auctioneer will close the bidding and at that time the highest bid shall be declared the "Winning Bid" and be deemed the "Purchase Price" subject to the terms and conditions of the auction. Auctioneer reserves the right to begin each auction with a starting bid, which will be announced before the start of the auction or listed online as the starting bid and/or current bid.
Winning Bids: The successful bidder for each property shall be required to execute and deliver an “Auction Bid Agreement” along with the required Buyer's Premium and Earnest Money Deposit immediately after being declared the successful bidder by the Auctioneer for live auctions and within 24 hrs. for online auctions.
Breach of Auction Terms and Conditions: Failure to execute and deliver the Auction Bid Agreement along with the required Buyer's Premium and Earnest Money Deposit will be deemed as a breach of the Auction Terms and Conditions and could result in but not limited to (a) forfeiture of Buyer’s Premium and Earnest Money Deposit, which will become immediately due and payable as liquidated damages, (b) forfeiture of any deposits made by check or credit card tendered as part of the bidding approval process, to be applied first as a credit towards the amount of any Buyer’s Premium due, or (c) court-ordered "specific performance" of the contract.
Delinquent Taxes: In the event that a property is being sold "subject to existing liens and/or delinquent taxes,” the Buyer shall assume responsibility for all current and delinquent taxes. The Buyer shall also be responsible for contacting the proper vendors, lien holders and/or taxing authorities to verify exact delinquent amounts. ??Back-up Bids: Auctioneer reserves the right to accept back-up bids during the auction. Once a successful bidder is recorded, the highest previously submitted bid would be recorded as the “back-up bidder. For Internet auctions, both the successful bidder and back-up bidder will be notified via e-mail at the end of the auction. In the event that the successful bidder does not close on the property the back-up bidder will be sold the property subject to the same approvals as all other bidders at the auction. ??Personal Property: No personal property is included in the sale of any of the properties. The disposition of any personal property located on or in any parcel sold shall be the sole responsibility of the successful purchaser following the closing of sale.??Marketing: All informational tools, including but not limited to slides, tax maps, deeds, photos, auction listings, auction catalogs, auction signs, property record cards, etc., are for identification purposes only and are neither a guarantee nor a warranty as to location, dimensions, parcel use and/or size, or anything else. Auctioneer makes no warranty expressed or implied in connection with this sale.
Auctioneer’s Decision Final: The Auctioneer’s decision regarding any bidding disputes is final, and the auctioneer reserves the right to reject any bid that is not an appreciable advancement over the preceding bid. Auctioneer reserves the right to add or delete any property from this auction or to alter the order of sale from that previously published. All announcements made at the auction take precedence over all other advertising or previous publications.
?Evictions: Properties are sold subject to the existing rights of all tenants. Summary proceedings or other legal actions relative to any third parties in possession of the premises, if necessary, are solely the responsibility of the successful bidder. ??
Broker Participation: Buyer broker participation is invited. Broker commissions vary and are paid based on the fee schedule published in the individual Property Report. Commissions are only paid to properly licensed real estate brokers/agents who have registered as a Buyer Broker in accordance with auction rules and regulations no later than 24 hours prior to bidding at the auction. No exceptions will be made. Buyer Brokers can register by completing our "Buyer Broker Registration Form" and faxing it back to us. A copy of the Buyer Broker Registration Form can be printed from our web site at mikeryanhomes.com/auction-broker-form or sent to you by email or fax by sending an email to firstname.lastname@example.org
Sebae Data Solutions, Inc.
SERVICE TERMS AND CONDITIONS
ACCEPTANCE OF TERMS
Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap
USE AND REGISTRATION
Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).
DESCRIPTIONS OF SERVICE
Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections.
HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION
Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.
The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.
INTERNET ABSENTEE BIDDING
Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction.
Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live".
Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid.
When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels).
The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions.
Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration.
Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer
Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms.
The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal.
Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement.
The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers.
Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers.
THE WINNING BID
The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid.
NOTICE OF END OF SALE, PAYMENT & SHIPPING
After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions.
BUYER'S PREMIUM, TAXES AND DUTIES
If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it.
All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose.
SPECIAL ADMONITIONS FOR INTERNATIONAL USE
Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that:
a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected.
c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC.
LIMITATION OF LIABILITY
You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service.
EXCLUSIONS AND LIMITATIONS
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you.
You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.
You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items.
The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.