Conditions of Sale
This property is offered subject to the sellers confirmation of the last high bid. The seller has 3 days to ether accept, reject or counter offer from time they receive the offer. If seller accepts the offer then closing to take place within 30 days of their acceptance of the contract.
there is a 13 % buyers fee which includes auctionzip fee added to the last high price in addition to any fee applied by the online auction service.
A 10% deposit will be due upon you being declared the high bidder, this deposit must be initiated via wire or over night to the Florida Gulfcoast Title Specialists (escrow agent/settlement Agent) 2164-B West First Street, Fort Myers, Fl.33901. 239-217-3428, efax 239-239-048 email [email protected].
The Total Purchase Price will be due and payable by Buyer at Closing by Wire Transfer of immediately available funds, pursuant to written
instructions from the Escrow Agent / Settlement Agent. Buyer shall receive credit for the Initial Escrow Deposit and any Additional Escrow Deposit,
upon clearance, which shall be released from escrow and applied by the Escrow Agent / Settlement Agent towards the Total Purchase Price at Closing.
(c) Time shall be of the essence as to Buyer's obligations in these General Terms and Conditions and as described in the Contract.
5. TITLE INSURANCE and ZONING:
(a) Buyer will pay for all closing costs including title insurance and inspections as requested or required by law.
Seller is not providing to Buyer any survey of the Property. In the event Buyer desires to obtain a survey of the Property, Buyer will be solely
responsible to obtain, and pay for, such survey without reducing the proceeds of the Total Purchase Price payable to Seller at the Closing. Buyer shall
not have the right to terminate the Contract based upon the results of the survey.
BUYER'S ACKNOWLEDGEMENTS:
(a) The sale of the Property is an "All Cash" transaction and shall not be subject to any contingencies, or post due diligence.
) The Seller, and Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors
or omissions in this or any other property listing or advertising or promotional/publicity statements and materials. The Seller, Auctioneer and their representatives, attorneys, agents and sub-agents, make no representation or guarantee as to the accuracy of the
information herein contained or in any other property listing or advertising or promotional/publicity statements and materials. Neither Auctioneer, nor the Seller has any obligation to update this information. Neither Auctioneer, nor the
Seller, their Agents and Sub-Agents, attorneys, Escrow Agent / Settlement Agent, representatives, members, managers or affiliates has any liability
whatsoever for any oral or written representations, warranties, or agreements relating to the Property except as is expressly set forth in the Contract.
The Property is sold in its "AS IS AND WHERE IS" condition and with all faults and defects, with no representations or warranties, express or
implied. All Bidders are encouraged to inspect the Property prior to placing any bid at the Online Auction and the Successful Bidder, as Buyer,
acknowledges that it has had a reasonable opportunity to inspect and examine all aspects of the Property and make inquiries of applicable governing
authorities pertaining to such matters in connection with the Property as Buyer has deemed necessary or desirable prior to the Online Auction. Bidders
should review all applicable zoning, land use, code compliance, environmental matters, physical condition, and any and all other governmental
statutes, ordinances, rules, laws and regulations and do such other due diligence in advance of execution of this document and all of the accompanying
documents in connection with the purchase of the Property.
) Competitive bidding is an essential element of an Live and Online Auction sale, and such a sale should be conducted fairly and openly with full and free
opportunity for competition among bidders. Any conduct, artifice, agreement, or combination the purpose and effect of which is to stifle fair
competition and chill the bidding, is against public policy and will cause the sale to be set aside. Collusion / Bid Rigging is a Federal Felony punishable by
imprisonment and fine. Auctioneer will report all illegal conduct to the F.B.I. and cooperate with any prosecution.
(e) The Property may be withdrawn from the Online Auction at any time without notice and is subject to prior sale.
(f) Seller, in its absolute sole discretion, reserves the right to amend, negotiate, modify, or add any terms and conditions to these General Terms and
Conditions of Sale, the Contract and to announce such amendments, modifications, or additional terms and conditions at any time, including during
this Online Auction.
) The highest bid shall be the Successful Bid only if same is acceptable to and accepted by Seller, by and through the Auctioneer via this Online
Auction, and as evidenced by Seller and the Successful Bidder, as Buyer, each executing the Contract.
(h) Back-up bids will be recorded and received by Seller in Seller's absolute discretion. Should the Property not close with the Buyer or should the
Buyer not comply with any term or condition of any document executed by Buyer in connection with the Property, the Seller will have the option, but
not the obligation, to pursue back-up bids.
(i) If you are unsure about anything regarding the Property or the Governing Documents, do not place a bid or participate in the Online Auction.
Review of the Governing Documents and all of the terms and conditions as well as a review of the Property before making any bids is strongly
recommended and you will be deemed to have done so on execution of these General Terms and Conditions of Sale.
(j) At the close of this Online Auction, upon the acceptance of the Purchaser's bid is an acknowledgment that such bid is the highest bid, at which time
it became a binding agreement to purchase the Property. Whether such bid is accepted is subject to this Agreement, including any
announcements/notices made by the Auctioneer. Thereafter, you may not withdraw your bid and you are obligated to execute the Contract.
The Buyer's Executed General Terms and Conditions of Sale will be attached and made a part of the Contract. In the event a conflict exists between
the Contract and the General Terms and Conditions of Sale, then, (i) prior to Buyer's execution and delivery of the Contract, the terms of the General
Terms and Conditions of Sale shall govern and control and (ii) following Buyer's execution and delivery of the Contract, the terms of the Contract shall
govern and control over the General Terms and Conditions of Sale.
7. ANNOUNCEMENTS / NOTICES:
All announcements/notices provided to the bidders shall supersede and take precedence over all previously written or printed material and any other
oral statements made; provided however that the Auctioneer shall not be authorized to make any representation or warranty (express or implied) with
respect to the Property. The Auctioneer has the sole and absolute discretion to make any announcements via this Online Auction, including but not
limited any announcements that may amend or alter these Online Auction terms, conditions, or procedures that were previously set forth in written
materials. In the event of a dispute over the bidding process, the Auctioneer shall make the sole and final decision and will have the right either to
accept or reject the final bid or re-open the bidding.
8. DEFAULT:
If the Buyer fails to comply with any of these General Terms and Conditions of Sale, the Seller shall retain the required Initial and Additional Escrow
Deposits, which shall be considered fully earned and non-refundable, under this Agreement and / or the Contract as liquidated damages and not as a
penalty. The Escrow Agent / Settlement Agent must immediately release the Initial and Additional Escrow Deposits upon request of the Seller. Buyer
acknowledges and understands that this provision is enforceable and shall not be deemed a penalty because the damages are not readily ascertainable
and generally impossible to calculate under the circumstances. Upon Default and notice of same by Seller to Escrow Agent / Settlement Agent, Buyer
understands and agrees to the immediate release of the Initial and Additional Escrow Deposit funds to the Seller by Escrow Agent / Settlement Agent
without the requirement of further documentation or consent from Buyer.
9. REPRESENTATIONS:
All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment,
and inspection of the Property and records. Neither the Seller, Century 21 in the Mountains nor Auctioneer, its Agents and Sub-Agents makes any
representation or warranties as to the accuracy or completeness of any information provided. All sizes, dimensions, drawings are approximations only.
10. BROKER PARTICIPATION:
Three Percent (3%) of the Final Bid Price will be paid to a qualified Licensed Real Estate Broker ("Broker") whose registered Buyer's offer is accepted by
the Seller and closes on the Property, provided the Broker is not prohibited by law from being paid such commission. To qualify for a commission, the
Broker must first register their prospect on the MANDATORY REAL ESTATE BUYER BROKER PARTICIPATION REGISTRATION form. The form must be
received by the office of Gulfcoast Realty & Auction no later than 5:00 P.M. E.T.,Friday, October 23, 2015. This registration MUST be sent to Gulfcoast Realty & Auction 14181 S. Tamiami Trail Fort Myers, Fl. 33912. Brokers may fax their broker registration(s) to 239-333-0594 or email to [email protected]. NO LATE REGISTRATIONS WILL BE ACCEPTED. Commissions / Fees will be paid only after closing and after Auctioneer have been paid in full. Brokers are not required to attend the Closing. If a Broker has not met all of these requirements, no
commission will be paid to the Broker, even if the Broker's prospect purchases the Property. No oral registrations will be accepted. Under no
circumstances whatsoever will any commission be paid if the sale does not close for any reason.
11. FINAL BID PRICE:
The final bid price for the Property shall be determined by competitive bidding at the Online Auction. The Property is being sold to the Highest and
Successful Bidder subject to the sellers confirmation plus the ten percent (10%) Buyer's Premium, subject to the terms and conditions of the
Governing Documents.
12. ACKNOWLEDGMENT AND ACCEPTANCE:
The Undersigned Bidder acknowledges receipt of a copy of these General Terms and Conditions of Sale, and having read and understood the provisions
set forth therein, accepts same and agrees to be bound thereby. Facsimile or electronic signatures will be treated and considered as original.
13. INDEMNIFICATION:
Buyer shall defend, indemnify, and hold harmless Auctioneer, its officers, directors, employees, and agents, from and against any and all claims,
demands, causes of action, costs, liabilities, losses, damages, and expenses (including reasonable attorneys and expert witness fees and expenses)
(collectively, "Claims"), and by whomever brought, to the extent arising out of or in any way related to (i) the sale of the Property, (ii) the performance
of the parties' obligations under this Agreement; (iii) the physical condition and quality (and express or implied representations regarding such
condition and quality) of the Property or any portion thereof, (iv) any breach of these General Terms and Conditions of Sale, Governing Documents, or
the Contract; (v) any claim arising from the sale of the Property; (vi) any claim arising from Buyer's participation in the Online Auction; or (vii) any other
act, omission or representation by Buyer.
14. GOVERNING LAW /JURISDICTION/VENUE:
This Agreement shall be construed, enforced and governed by the laws of the State of Florida, without regard to choice of law and similar doctrines.
The parties consent to jurisdiction in the State of Florida and venue, for any litigation arising out of this Agreement, shall lie exclusively in the courts of
Lee County, Florida.
15. WAIVER OF JURY TRIAL:
EACH PARTY TO THIS AGREEMENT HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED UPON THIS AGREEMENT OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY
OTHER AGREEMENT CONTEMPLATED AND EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF DEALING, COURSE OF CONDUCT, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO.
16. ATTORNEY'S FEES:
If any action at law or in equity, including an action for declaratory relief, is brought to enforce or interpret any provision or provisions of this
Agreement, the prevailing party will be entitled to reasonable attorneys' fees and costs, whether at the trial court and appellate level, in addition to all
other costs associated with the action whether or not the action advances to judgment, in addition to any other relief to which that party may be
entitled.
17. ENTIRE AGREEMENT:
This Agreement embodies the entire agreement between the parties relative to the subject matter, and there are no oral or written agreements
between the parties, or any representations made by either party relative to the subject matter, which are not expressly set forth herein. To the extent
that any of the terms or provisions contained herein differs or conflicts with those contained within the Contract, the Contract shall control.
THE BIDDER ACKNOWLEDGES AND AGREES THAT THE BIDDER HAS READ ALL OF THE TERMS AND CONDITIONS AND EACH OF THE TERMS AND
CONDITIONS CONTAINED IN THE GOVERNING DOCUMENTS AND AGREES TO BE BOUND TO SAME BY BIDDER'S SIGNATURE BELOW.
Bidder's Signature Date Time
for copy of purchase contract email auctioneer [email protected]
buyers fee
13% plus online fee
financial
cash, wire transfer, cashiers check with bank letter of guarantee
no shipping
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