ONLINE AUCTION BIDDER TERMS AND CONDITIONS
Bidder and Auctioneer agree that the terms listed below shall govern this online auction.
1. All bidders must register and must be 18 years of age or older. Bidder agrees to not use any device, software or routine to interfere or attempt to interfere with the proper working of or any transaction being conducted on and during the auction sale.
2. By accessing this site, you agree to accept, without limitation or qualification, all of the terms and conditions of the site and user agreement and comply with all applicable laws, statutes, ordinances and regulations.
3. To be an online bidder you must provide a credit card that a refundable $1000 deposit may be placed prior to the auction event. Bidders will be placed in pending status until card authorization is processed. This is part of the registration process and allows us to more accurately identify online bidders and avoid the possibility of sham bids. Bidders expressly authorize the Auctioneer to use their credit card to satisfy the payment amount as well any deposit required as earnest money. If a bidder has not actively bid and/or does not owe any outstanding settlement, monies will be automatically released in accordance with standard credit authorization and deposit procedures.
4. This is a real estate auction. Bidders are expected to have financing pre-determined or cash available to consummate the transaction. THIS AUCTION IS SOLD AS IS WHERE IS WITH NO CONTINGENCIES AND IS NOT CONTINGENT ON FINANCING. Successful bidders will be requested to provide Proof Of Funds if paying cash at close with a letter from a bank on letterhead . If financing, you will need your loan commitment documents on bank letterhead. Documents will be required within 24 hours following the close of the auction. If you are bidding on behalf of someone else, you must provide a notarized specific power of attorney authorizing you to bid and execute documents for the purchaser for their specified properties of interest.
5. Immediately following the close of the auction successful bidders will be contacted and must provide information regarding how property will be titled regarding legal names, a legal entity or trust. Successful bidder(s) will be sent electronically documents to e-sign unless other arrangements are made for face-to-face meetings.
6. Closing Information: Final title work and closing will be handled by a local title company chosen by the seller. The closing fee charged by the title company in conducting the settlement shall be shared between buyer and seller. The seller will pay for title insurance and other normal seller costs. The buyer will be responsible for all other closing costs normally applied to the buyer.
7. Survey: The seller will pay for the survey of the property.
8. As-Is Sale: All properties are being sold "AS IS- WHERE IS." There are no contingencies in regards to financing, title, inspections or surveys, property sales with any and all faults and not subject to easements, leases, restrictions, covenants, conditions, zoning, occupancy and all other matters revealed by a current survey or an inspection of the property and contained in public records. The buyer is hereby put on notice that if they are the high bidder, they are then committed to proceed with the purchase once documents are executed by the seller. The buyer is responsible for all due diligence prior to placing their bid and the verification of any information advertised. If the buyer fails to close, they will forfeit their earnest money deposit, and could face litigation for performance of contract. Additionally, if the buyer is the high bidder and fails to proceed with the contract, they will forfeit their registration deposit as liquidated damages. The property will sell as is where is with no warranty, express or implied, as to soil condition, environmental and wetlands, zoning and improvements. Information contained herein is believed to be from sources deemed reliable but there are no warranties expressed or implied by Enterprise Auctions, agents or seller. Seller reserves the right to add or delete property or cancel the sale prior to the auction. The buyer agrees to and will accept the property in "As-IS" condition and subject to all defects, including those defects that affect title, physical condition, environmental condition, lead-based paint where applicable, and legal status such a zoning and building codes. Seller makes no warranty as to title, condition or legal status.
9. Auctioneer Representation: Auctioneer represents the seller only. Bidders must conduct their own due diligence, inspection and investigation of each property or parcel 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, Auctioneer, Representative, Broker, Agent, Contractor or Employee. Failure of a bidder to be fully informed on the condition of a property will not constitute grounds for a claim or adjustment or to cancel the sale. All the information contained regarding this property was obtained from sources deemed reliable, but is not guaranteed.
10. Possession: Possession will take place immediately upon closing.
11. Earnest Money: The earnest money will be an amount equal to $1500 per tract payable day of auction closing. This will be payable to Homes Land & Lakes Realty and held in an escrow account until day of closing and applied to the purchase of the property.
12. Disclosure: Enterprise Auctions is a d.b.a. under C-M Enterprises, Inc with Indiana Licensed Auctioneer Charles Mills (License # AU10700047). With the sale of the property the purchase agreement(s) will be processed by Homes Land & Lakes Realty, LLC. Charles Mills, Auctioneer is President of C-M Enterprises, Inc and owner and managing broker for Homes Land & Lakes Realty, LLC.