Auction Terms & Conditions Southern Arizona Multi Property Auction - Benson, Arizona - January 27, 2018
Thank you for participating in the Stockmen's Realty, LLC, Multiple Property Auction. The Multiple Property Auction and conveyance of each property shall be governed by the Agreement for Purchase and Sale at auction, including all addenda, exhibits, disclosures, and other required documents (together, the "Agreement for Purchase and Sale"). The Terms of the Sale are non-negotiable and irrevocable. Your registration evidences your agreement with these terms. All bidders must complete the registration process. By bidding you are representing to Stockmen's Realty, LLC and the Seller that you have read and agree to be bound by all terms and conditions for this sale as stated herein. DO NOT BID unless you have read and agreed to be bound by Agreement for Purchase and Sale, Sale Day Notes, Disclosures, and these auction Terms of Sale, as they are enforceable against you.
BID DEPOSIT/CERTIFIED FUNDS: A cashier's check in the amount of $2,500.00 and a valid ID are required in order to participate in the real estate auction. This check will be held and returned if a successful bid has not been placed. If a successful bid has been place, the deposit will be applied toward the required down payment. The check should be made payable to Fidelity National Title, Inc.
AUCTIONEER POWERS & AUCTIONS PROCESS: Each property will be offered in its entirety and in parcels. The highest bidder(s) at the end of the process will be the successful bidder. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or re-schedule an auction. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or bid card to be recognized. Absentee bids may be accepted at the discretion of the Auctioneer, and the Auctioneer reserves the right to enter bids on behalf of absentee bidders, including phone bidders. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.
SUBJECT TO SELLER ACCEPTANCE: All parcels are being sold subject to Seller confirmation within 30 minutes of the conclusion of the Auction. If for any reason Seller approval is not granted, the Down Payment shall be returned in its entirety to the high bidder.
DOWN PAYMENT: The day of the sale, successful bidders will be required to make a non-refundable deposit in the amount of ten percent (10%) of the total purchase price with a Five Thousand Dollar ($5,000) minimum per property. Cashier's checks, personal checks and business checks are accepted. The Bidders Deposit will be applied toward the down payment. Once the Seller approves the Sale, the down payment will be credited to the purchase price. Checks are to be made payable to Fidelity National Title, Inc., as Escrow Agent. The check will be deposited, as provided in the Agreement for Purchase and Sale. The balance of the purchase price, Buyer's Premium (Buyer's Fee), are due at closing unless there is approved Seller financing. Closing costs will include customary escrow fees, recording fees, tax proration's, water and septic transfer fees, financing fees and any other fees noted.
BUYER'S PREMIUM (BUYER'S FEE): Buyers shall pay a buyer's premium equivalent to 10% of the purchase price. The Buyer's Premium shall be added to the final bid price and will be collected at closing.
AGENCY DISCLOSURE: Stockmen's Realty, LLC, and all other licensees employed by or associated with the Broker represent the Seller in the sale of this property only.
BUYER'S AGENT COMPENSATION: Buyer's agents will enter into a co-broker's agreement with Stockmen's Realty, LLC. Stockmen's Realty, LLC agrees to pay upon closing a fee equal to 2% of the high bid price paid by his or her client excluding the Buyer's Premium. In order to be eligible for compensation, the buyer's agent must hold an active real estate license in the State of Arizona, or possess a valid real estate license and act in conformance with the laws for paying a referral fee to an out of state broker as promulgated by the State of Arizona and must register the client 24 hours prior to the auction. All out of state brokers must provide a copy of a valid real estate license in the state of licensure prior to payment. All registration letters shall be sent to Nancy Belt, at Stockmen's Realty, LLC and an acknowledgement will be sent to the Agent. Registration must occur by January 26, 2018 at 5:00 p.m. No oral registrations will be accepted. No agency relationship will be recognized for a client who has previously contacted or been contacted by the Seller, or the Seller's Agents. If an Agent has not met all of these requirements, no compensation will be paid, even if the Agent's client purchases the property.
CLOSING DATE: The closing date for parcels shall be on or before February 26, 2018, at 5:00 p.m.
POSSESSION: Buyers are not allowed possession until closing (transfer of funds and recording of the deed), at which time it is recommended that the property be re-keyed.
PROPERTY CONDITION, AS IS, WHERE IS SALE: All properties are sold "AS IS, WHERE IS" with no other contingencies to sale. Stockmen's Realty, LLC (Broker) represents the Seller only and does not inspect properties on bidder's behalf. Bidders must conduct their own due diligence and investigation of each property to determine the suitability of each parcel prior to placing a bid. Bidders must rely solely upon their own investigation and NOT any information provided by the Seller, Broker, or Auctioneer. Failure of a bidder to be fully informed on the condition of a property will not constitute grounds for a claim adjustment or to cancel the sale. All the information contained regarding this property was obtained from official county maps or other sources deemed reliable, but is not guaranteed and may be in error. Furthermore, Stockmen's Realty, LLC, Auctioneer, and Seller DO NOT WARRANT the accuracy thereof. By bidding you agree to all disclosures.
TITLE: A title report has been provided as part of the due diligence information. The title report contains a list of title exceptions. Each Buyer should review the title report to satisfy themselves as to the condition of title. Title Insurance will be provided by the Seller at Closing
DISCLAIMERS & NO WARRANTIES: Stockmen's Realty, LLC (Broker), Auctioneer and the Seller expressly disclaim any liability for errors, omissions, or changes regarding any information provided for these sales. Please read the Agreement for Purchase and Sale, and sale day notes for a full and complete understanding of Broker, Auctioneer and Seller's disclaimers. Bidders are to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller, Broker or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it. The Seller, Broker, Auctioneer, and their agents assume no liability for inaccuracies, errors or omissions in the marketing materials, including the Due Diligence Information posted online. All square footage, dimensions, quantities, taxes and other marketing materials are approximate. To the extent there are any inconsistencies between the information contained herein and any information contained in other marketing materials; the material included in the due diligence information provided online shall prevail. However, notwithstanding the above, any announcements made the day of the sale will take precedence over earlier advertising or pre-printed material and the Agreement for Purchase and Sale shall govern and prevail with regard to the terms and conditions of the sale or disputes with respect to the property. You are entering a binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible, legally and financially, for all auction items bid upon whether representing one's self or acting as an agent. Any bidder who fails to consummate a purchase may be pursued for civil and/or criminal violations. This offering may be withdrawn modified or canceled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.
ASSUMPTION OF RISK: Your inspection of the property(ies) and attendance at this auction are at your own risk. Seller, Broker, Auctioneer, and their respective agents, contractors, and employees expressly disclaim any "invitee" relationship and shall not be liable to any person for damage to their person or property while in, on, or about these properties, nor shall they be liable for any defects, dangers or conditions on the property(ies) all persons enter the property(ies) and attend the auction at their own risk and shall defend, indemnify, and save harmless Seller, Broker, Auctioneer, and their agents, contractors, and employees from any and all liability attendant thereto.
CANCELLATION AND LIQUIDATED DAMAGES: If the high bidder breaches any portion of these auction Terms of Sale, or the Agreement for Purchase and Sale and/or fails to return all executed copies of all required documents or the required down payment, the bidder's high bid offer shall be rejected by the Seller and all rights to purchase the property, if any, shall terminate with the Seller having the right to offer for sale or sell the property to another without limitation, and the bidder shall pay Auctioneer liquidated damages in an amount equal to the bid deposit at the time of registration. The bidder hereby authorizes Auctioneer to release all or part of the Deposit as liquidate damages owed to Stockmen's Realty, LLC by bidder. Bidder agrees that it is extremely difficult or impossible or impractical to accurately estimate the amount or extent of Stockmen's Realty, LLC actual injury or damage resulting from a material breach of this agreement by the bidder, and based on the uncertainty of such estimation, the bidder agrees that liquidated damages identified herein are a proper remedy for bidder's material breach of this agreement. The bidder further agrees that the liquidated damages amount set forth herein constitutes a reasonable and satisfactory pre-breach estimation of each party's damages and shall not in any way be considered a penalty or forfeiture.
CC&R's: There are Covenant, Conditions and Restrictions (CC&R's) affecting Parcel 9, Parcel 10, Parcel 11, and Parcel 12. A copy of the CC&R's are posted on the Southern Arizona Multiple Property Auction ShareFile and a copy is being provided on Sale Day in the Property Information Notebooks.
***VERBAL ANNOUNCEMENTS made auction day take precedence over all preprinted materials.
Stockmen's Realty|Nancy A. Belt, Broker|PO BOX 191, Sonoita, AZ 85637|520-221-0807
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