Terms & Conditions:
Bidder Registration: Although there is no obligation to bid, all prospective buyers MUST register to bid at the auction.
Down Payment: $25,000 non-refundable earnest money down on purchase agreement day of auction.
Closing: Closing on this property shall take place on or before January 7, 2010, the date of closing and possession. Buyers wishing to close earlier will be accommodated.
Failure to close by the Buyer: If for any reason you are unable to complete the transaction, your down payment money will be forfeited.
Title: This property will be sold free & clear from any & all liens & encumbrances, but subject to any zoning, environmental, or other municipal, federal & state laws, easements, rights of way or other matters of record. Buyer to accept property in as-is condition.
Seller & Auctioneers Disclaimer: All announcements made by the auctioneer shall take precedence over any previously written material or oral statements made. Conduct of the auction, increments of the bidding & decisions as to the high bidder will be at the direction & sole discretion of the auctioneer. The information contained in this brochure is subject to the inspection & verification by all parties relying on it; no guarantee, expressed or implied, is given of the information contained in the brochure. No liability for its accuracy, error or omissions is assumed by the owners or the agents. Property sells in “as is” condition. Buyer will sign an as-is addendum.
Terms: $25,000 non-refundable earnest money down on purchase agreement the day of auction. Cash, personal, & company checks or certified funds will be accepted. Balance in full due on or before January 7, 2010, the date of closing & possession. Buyers wishing to close early will be accommodated. Buyers to have financing arrangements made prior to the auction with no contingencies of any kind accepted on day of auction. A 5% buyers premium applies on this property & shall be made part of the purchase price. This property sells by the acre times the money. Example: Total Bid price: $250,000 plus 5% buyers premium, Purchase price: $262,500. 1031 tax exchange language can be included in the purchase agreement at the buyers request, however, any 1031 tax exchange shall not alter the terms, conditions, or closing date of this transaction.
Taxes: Taxes due in the year 2009 will be paid by the seller. Taxes due in 2010 will be paid by the buyer.
Agency Disclosure: Fahey Sales Auctioneers & Appraisers & Edina Realty represent the seller in this real estate transaction. Dual agency may apply.
