- TERMS AND IMPORTANT AUCTION DETAILS SECTION -
STEP 1: Acceptance of Terms & Conditions
By registering to participate in the bidding process for the above asset, you are agreeing to the following terms & conditions:
" 10% down day of auction. Good check due for earnest money deposit, balance due on or before August 24, 2017. Taxes to be prorated.
" Possession with passing of Deed at closing.
" Property is being sold "As-Is" with any and all faults. No warranties expressed or implied by Compass Auctions & Real Estate LLC or by the seller.
" Buyer responsible for verifying square footage, acreage, zoning regulations, and any and all other pertinent information deemed relevant by the prospective buyer.
" Buyer shall have 25 days prior to the auction date to conduct any and all inspections buyer deems necessary at buyer's expense.
" Announcements made day of sale take precedence over previous advertising.
" There is a 10% Buyer's Premium for this sale. Therefore, 10% of the highest bid will be added to the final bid to achieve the total contract price.
STEP 2: Bidder Registration Qualifications
" Bidder must fully register with Compass Auctions & Real Estate LLC no later than June 16th, 2017 by 2:00 PM Central Standard Time.
" Bidder must wire or provide certified check in the amount of $25,000.00 to be deposited in Compass Auctions & Real Estate LLC Escrow Account no later than June 16th, 2017 by 2:00 PM Central Standard Time.
" Valid government-issued picture ID.
" Proof of funds - If paying cash at close you'll need your most recent bank statement. If financing, you'll need your loan commitment documents on bank or lender letterhead. Documents will be required 24 hours following auction.
" Articles of incorporation, trust documentation or other proof of signing authority (for those taking title in a company name or trust only).
" If you are bidding on behalf of someone, 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.
STEP 3: Complete Bidder Registration Form
" Bidder must complete and sign Bidder registration form.
" Form must be submitted with qualifying registration deposit no later than August 1st, 2017 at 5:00 PM EST.
" Bidder must identify on form if they have a representation agreement with a Broker/Agent.
" Bidder must identify whether they intend to bid live on site, by phone, or via simulcast.
STEP 4: Auction Day Bidding Process
" Office building will be open from 9:00 am - 11:00 am CST at 460 James Robertson Pkwy for final inspections.
" Registration tables will open at 9:00 am EST, live auction will auction will commence at 10:00am EST
" Auction Location: 3114 Freeman St Chattanooga TN 37406
" Bidders will be able to pickup registration packets at auction location.
" Online Bidders - when using the online bidding platform the system indicates only a Pass or Sold status, any online bid submitted should be considered as binding and pending and the live auctioneer record will control.
Broker Participation Qualifications:
" Participating Broker must register prospective bidder using Compass Broker Form no later than July 31st , 2017 at 5:00 PM EST.
" Participating Broker must ensure prospective bidder meets all bidder registration qualifications. No exceptions.
" Broker must attend auction event with prospective bidder.
" Broker must register bidder prior to any inspections of the property.
" No Broker will be recognized for a prospect that is currently working with Compass Auctions & Real Estate LLC.
General Auction Terms
1. AUCTION EVENT TYPE: Live Onsite Auction with Online simulcast **NOTE: There is no live bidding at real estate locations for this auction
2. LOCATION ADDRESS: 3114 Freeman Ave. Chattanooga, TN. 37406
3. AUCTION DATE: 08/02/2017
4. AUCTION PRE-BID START TIME: 07/05/2017
5. INSPECTION DATES: Tuesday June 27th 8:00am-3:00pm EST or By
Appointment ***NOTE: Inspection Dates for Real Estate differ from this inspection date, please see lot description for respective dates and times for eash real estate listing** email@example.com or 800-729-6466
6. BUYERS PREMIUM: 13% (ex. $100.00 x 10% =$113.00) - Municipal Items and Real Estate 10%
7. SALES TAX: 9.25%
8. TAX EXEMPT BUYERS: Valid Tax Exemption Certificate MUST be presented
at time of checkout. NO EXCEPTIONS - NO REFUNDS
9. TYPES OF PAYMENT: Cash | Cashier's Checks | ACH Direct Deposit |
Bank Wire add +$18.00 fee Domestic or $36.00 fee International |
ACH/Direct Deposit $10.00
*Credit Card Transactions incur a +3% processing fee we accept:
Visa | MasterCard |AMEX
Checks: With a Bank Letter of Credit (see letter guidelines below
10. PAYMENT & CHECKOUT TIME: Online Bidder - Within 2 Business Days
11. REMOVAL INSTRUCTIONS: No items may be removed until ALL items are
paid in full.
All items must be removed within 10 business days.
Buyer is to bring 2 copies of Paid in Full invoice to pick up items
Locations released at time of payment
Item removal must be scheduled with the office. (800) 729 - 6466
or email firstname.lastname@example.org
12. FINAL DATE OF REMOVAL - 08/11/2017
(Item Pickup Scheduling is set by APPOINTMENT ONLY, if you arrive
without being scheduled there is no guarantee of being loaded) Items remaining
after this date will be forfeit and resold with no refunds.
13. REMOVAL HOURS: Monday - Friday 8:00-3:00 p.m. Eastern - Weekend
Pickup is not available.
There is a forklift on location to assist with loading heavy items - This site has a loading dock.
*All Transport and Pickup MUST be scheduled with the office for loading
personnel to be available*
PLEASE NOTE: Compass Auctions staff members can only provide basic
assistance onsite however they cannot breakdown, load, haul, disconnect,
nor do they have work or hand tools available, please come prepared with
all necessary tools and/or manpower needed to facilitate loading your items.
PREBIDDING: The online auction will open for prebidding. If you cannot
attend live you may leave a max bid and the system will auto bid for you
to that max amount. Questions? email@example.com or 423-702-6180
ONLINE BIDDING PARTICIPATION 101:
1 - Click on the Register to Bid Button - Complete the Registration
2 - Agree to the Terms of the Auction
3 - After Submitting Registration click on View Catalog to place your
4 - All Pre-Bids will be taken to our Live Webcast Auction
5 - Live Webcast Auction will start in conjunction with auction time
*Enjoy bidding from the comfort of your Office, Home or on your
6 - Each lot will open with the current Pre-Bid that shows in the lot
7 - If you cannot join the Live Webcast Auction leave your highest
Pre-Bid and the system will bid for you.
**Online Bidders - Credit Cards will be processed 2 business days after
invoicing unless you contact our office to make other arrangements
email: firstname.lastname@example.org or call 423-702-6180
AUCTION TERMS AND CONDITIONS:
All Sections of the Terms and Conditions apply no matter the section title
If you have any questions contact Compass Auctions & Real Estate, llc.
email@example.com or 423-702-6180
ONLINE PARTICIPATION REQUIREMENTS: Valid Credit Card Authentication,
accurately completed registration form and approval by Auction Company
is required for bidding registration.
PAYMENT ACCEPTED: Cash, Cashier's Check, Visa, MasterCard, American
Express - credit card transactions is a 3% additional fee, and Bank Wire
Transfer ($18.00 domestic) ($34.00 International), checks accepted only
with a Bank letter of Credit with the following information included:
1) All Internet Buyers wishing to pay by check must provide a Bank
Letter of Guarantee. All letters must be faxed to 423-702-6179 or
emailed to firstname.lastname@example.org.
BANK LETTER REQUIREMENTS: The letter must state and represent as follows:
"Mr. (Customer Name) is a customer in good standing at our bank. We will
guarantee the payment of checks on his/hers account (Account Number) up
to (specify amount) dollars for purchase at your auction in (Auction
Location) on (Auction Date). We hereby agree that no stop payment will
be issued in conjunction with this letter."
PAYMENT INSTRUCTIONS: All onsite purchases must be paid for day of
auction and online must be paid for within 2 Business Days unless
arrangements/agreements have been made PRIOR to auction.
ALL Payment MUST be received within 2 Business Days of auction
regardless of scheduled pickup or transport times. Compass Auctions
reserves the right to charge any additional fees associated with
pursuing the collection process for any outstanding and nonpayment
(A $50.00 fee shall be assessed to Buyer for all returned checks and
interest may be charged at the rate of 3% of the total invoice weekly
plus any additional costs, labor, or fees incurred to pursue collection).
Payment is due in full upon receipt of invoice. If payment is not
received within 2 Business Days of the conclusion of the
auction/invoice, auction company may choose to void buyer's invoice, and
all items will be forfeited. Buyer will be banned from registration
and/or bidding in any and all auctions associated with Compass Auctions
& Real Estate, llc., its affiliates, and or industry associates. If a
credit card is listed on file buyer grants permission for that card to
be charged over a period of time until the total fees and charges are
paid in full. All legal fees, collection fees and any other charges
arising from nonpayment will be paid by the Buyer.
If you do not currently have the funds to pay for your purchases DO NOT BID.
WIRE TRANSFER INFORMATION INTERNATIONAL & DOMESTIC: Please contact
Compass Auctions & Real Estate for information on wire transfers. The
information will be in emails sent to online winning bidders. There is a
$18.00 basic wire transfer fee for domestic, $34.00 for international.
This amount must be included with the bank wire transfer otherwise the
credit card on file will be charged the appropriate amount. Auction
company reserves the right to hold items until final payment has been
processed in its entirety.
CURRENCY TYPE: USD
SHIPPING/PICKUP | REMOVAL INSTRUCTIONS: Buyers are responsible for all
shipping arrangements, valid sales tax requirements, exporting
requirements/fees. Removal from auction location on day of auction, or
within 7 business days, UNLESS otherwise stated in the information
listed at the beginning of the Terms and Conditions section or a
previous agreement has been reached with the auction company. Partial
payment, partial removal of items is not accepted. ALL ITEMS MUST BE
PAID IN FULL PRIOR TO REMOVAL OF ANY ITEMS. Storage fees may apply after
14 days. Buyers causing damage, harm, creating environmental issues,
dumping, destroying or abandoning refuse or any other act to cause
monetary expense to be incurred to a sellers property or auction site
location or property of any type will be held liable for any and all
damages, cleanup, or repair and may be prosecuted to the fullest extent
of the law. Compass Auctions & Real Estate, llc., nor any consignor,
will not be responsible for packaging, shipment or transport of any
kind. All items become the property of the buyer at time sold and buyer
will take full responsibility of items. Compass Auctions & Real Estate,
llc. nor consignor, is not responsible for damages incurred due to
loading and unloading, or during shipment of items, all items are sold
as is, where is. Compass Auctions & Real Estate, llc. nor consignor will
in no way be responsible for any damages or injuries in anyway while
providing a lift, any tools, equipment and/or loading services, the lift
and loading is provided as a service to the buyers where available and
buyer will release and hold harmless any injuries or damages to property
or person that may occur due to the use of the lift or any tool,
equipment or loading service. Removal is fully at the buyer's expense
and responsibility. Buyer/Rigger is responsible for all
waste/oil/substance in the removal of assets, along with all spills that
may occur during the removal process. Buyer assumes all responsibility
for removal and may be required to present a copy of proof of insurance
naming auction company and seller as additional insured. Also certain
item site locations may require a safety removal plan to be presented
and approved to remove certain items. Some sites may require buyer to
wear approved safety attire. Compass Auctions & Real Estate, llc. makes
every effort to provide any additional requirements that must be met for
removal of items, however, unforeseen logistics, communication and/or
circumstances occur and buyer assumes all responsibility for removal.
Compass Auctions & Real Estate, llc. nor consignor in no way will be
liable for any damage in loading, shipping or removal of items. In the
event that Bidder does not make arrangements and/or pay for shipping, or
have items removed in the allotted time disclosed, Bidder shall have no
claim against Compass Auctions & Real Estate, llc. nor consignor/seller,
and buyer will forfeit the merchandise with no refunds or recourse.
PACKAGING, SHIPPING, AND ALL TRANSPORTATION, LOGISTICS AND OR RIGGING
AND REMOVAL ARE THE RESPONSIBILITY OF BUYER.
Compass Auctions & Real Estate, llc. can provide basic pallet wrapping
for a charge of $75.00 per pallet. Compass will not assume any
responsibility for damage from packaging or transport or for any reason.
Compass Auctions & Real Estate,llc. provides this as a service only to
assist buyers. BUYER WILL ALWAYS BE FULLY RESPONSIBLE FOR ALL PACKAGING,
SHIPPING, RIGGING & REMOVAL OF ITEMS.
CHECKOUT DATE & TIMES: Please see information listed above the terms and
conditions section. If special arrangements are needed please contact
the auction company. 423-702-6180 or email@example.com
SPECIAL TERMS & CONDITIONS: -This property is being sold - "AS IS",
"WHERE IS", NO REFUNDS or EXCHANGES. NO CREDIT CARD CHARGE BACKS. ALL
SALES ARE FINAL. THERE ARE NO GUARANTEES OR WARRANTIES EXPRESSED OR
IMPLIED. Statements, conditions, or descriptions, accurate weights or
measures, on or about items in the auction are provided in good faith
and are only matters of opinion. The Auctioneer, auction company and
Seller disclaim all warranties, expressed or implied, about the
merchantability of the items and their fitness for a particular purpose.
Items offered may or may not be sold as described and/or photographed in
item description catalog. ALL SALES ARE MADE "AS IS, WHERE IS" AND BUYER
ACKNOWLEDGES HAVING INSPECTED THE PROPERTY WHETHER IN PERSON OR ONLINE
AND TO BE SATISFIED WITH SAME PRIOR TO BIDDING. BUYER IS SOLELY RELYING
UPON ITS OWN EXPERTISE IN CHOOSING TO MAKE ANY PURCHASE. Compass
Auctions & Real Estate, llc and Seller assume no liability for any
environmental issues in the assets being sold. Compass Auctions & Real
Estate, llc and seller makes no warranties or guarantees of any sort
regarding any environmental issues and assume no liability of any sort
if any ever do exist. All counts of items are approximate. All
information provided by the seller is believed to be correct, but not
guaranteed by Compass Auctions & Real Estate llc. All announcements made
by Auctioneer at/or during the auction will take precedence over
previous printed materials, website, or any other statements or
descriptions made. A Buyer`s Premium indicated in details section above
will be added to all purchases; a 3% administrative fee will apply to
all credit card purchases. If you do not currently have the funds to pay
for your purchases DO NOT BID. Buyer/Rigger waives any and all claim it
may have for any damages, including actual and punitive, whether caused
by negligence, willful misconduct or otherwise, and assumes all risk
related to the removal of any and all item purchases. SALES TAX WILL BE
CHARGED on all purchases unless otherwise stated in the above section.
Additionally, each buyer shall be responsible for payment of any city,
county and/or state sales tax that may apply. By registering to bid,
buyer is entering into a legally binding contract and agrees to be bound
by and adheres to all terms and conditions of this auction.
Feel free to contact Compass Auctions & Real Estate, llc. at
firstname.lastname@example.org or 423-702-6180 with any questions about the
auction or the items in the auction
ON-LINE TERMS: -The Buyer's Premium listed in the Terms Details Section
above will apply -A bank wire transfer fee of $18.00 for domestic $34.00
for international will be added to all bank wired funds. -Compass
Auctions & Real Estate has strived to accurately prepare and describe
all items in this catalog. All sections of the Auction Terms and
Conditions apply to all bidders including online, onsite, attendees or
participants of any kind regardless of the section title. All items are
sold "AS IS" or "WHERE IS". It is solely the bidder's responsibility to
determine the exact condition and approximate count of each item that he
or she bids on, all counts are approximate. -It is the responsibility of
the Bidder to attend the auction preview, or schedule an independent
preview to satisfy themselves as to the age, condition, value, count, or
any other determining factors of the items. Compass Auctions has
attempted to provide the correct item description and/or pictures
however any errors or omissions in any provided format, description, or
picture, does not affect/or void the sale in anyway, all items are sold
as is where is and all sales are final. Compass Auctions & Real Estate
will NOT be responsible for any errors and/or omissions in the
description, and/or pictures of the items. Bidder agrees that under no
circumstances whatsoever will Compass or consignors/sellers ever be
liable to any bidder for an amount greater than the purchase price of
the item they purchased and only when in agreement that statement
materially and intentionally was incorrect. Statements, conditions, or
descriptions on or about items in the auction are provided in good faith
and are only matters of opinion and are approximation. Any dismantling
of items is prohibited on the auction site or any consignor property.
Under NO circumstances shall the Bidder have any claim against Compass
Auctions & Real Estate or consignor in the event of any technical
issues. Bidder is bidding on item information only. Pictures of items
are provided as a reference only and may not always display accurately
with correct lot or context. If buyer has a question in regards to lot
information or images contact our office prior to bidding. If images
display obvious information for lot with limited item text description
and/or do not match lot described, buyer is using their expertise,
knowledge and judgment to purchase the lot based on what the images
reveal and the lot information provided. Even though an item may display
as "sold" on the internet, no sales are final until they are certified
by Compass Auctions & Real Estate, llc. and Bidder receives an invoice
and provides good payment. This auction company has requested and been
granted access to see all bids placed including any maximum pre-bids.
This auction company is permitted to engage in this activity by
providing this clear disclosure to you, the bidder. The bids are
advanced at pre-set increments available on the bidding web page. From
time to time Compass Auctions & Real Estate, llc. may accept items with
undisclosed reserve prices. The seller and Compass Auctions & Real
Estate, llc. reserve the right to bid on behalf of the seller on items
on which there may be a reserve. Compass Auctions & Real Estate, llc.
may reject or cancel any bid for any reason. The record of the auction
made by Compass Auctions & Real Estate, llc. shall be conclusive. This
is a Public Auction and as such, all qualified bidders may bid including
Compass Auctions & Real Estate, llc. owners, family members and
employees and any consignor company, group members or employees.-Compass
will not be responsible for any missed bids from any source. -By bidding
on any item in the auction the registered bidder has accepted the terms
and conditions of the auction and acknowledges that this is a legally
binding contract. -If you win an item in the auction you will be
notified by email within 24 hours. All items will be charged to the
credit card on file within 2 business days after billing unless other
arrangements are made PRIOR to the auction start time. The initial
invoice you receive after the auction close will be used for billing,
any additional fees or charges may be sent in a separate invoice and
charged to the credit card on file. -All accounts will be settled at the
conclusion of the auction or within 72 hours with prior approval. We
accept Cash, Cashier's Checks, Visa, MasterCard, American Express and
Bank wire transfers (within 2 business days of auction close ) as
determined by the auction payment terms listed in the Terms Detail
Section above. Checks must be Pre-Approved by Compass Auctions & Real
Compass Auctions & Real Estate reserves the right to withdraw or
re-catalog items in the auction as needed. All announcements made day of
auction or posted as an update in the terms & conditions will take
precedents over any and all written, verbal or electronic statements,
Auction Company reserves the right to update terms and conditions at any
time without notice. Registration: -Online bidding will be conducted
with an online bidding platform-Internet Bidders are required to
register with the online bidding platform and receive an Auction
Registration Bidder Number. Compass Auctions & Real Estate is providing
Internet Auction bidding as a service. We will not be held responsible
for any issues with technology, Auction, or Live Bidding over the
internet. - Internet bidders who desire to make certain their bid is
acknowledged should use the proxy-bidding feature and leave their
maximum bid 24 hours prior to the beginning of the auction. -By
registering to bid and/or bidding on any item in the auction the
registered bidder has accepted the terms of the auction and agrees to
adhere to and be bound by all sections of the auction terms and
conditions. This is a legally binding contract whether attending onsite
or by clicking to agree to the terms and conditions online, or by any
other digital method whether by fax or email the buyer is bound by the
terms set forth in this contract.
Compass Auctions & Real Estate reserves the right to refuse service or
decline registration to any person or persons. -A winning bid is a legal
binding contract to buy and provide good funds. Title to the merchandise
transfers to Bidder, only when Bidder`s payment is honored. No items
will be removed without final payment received. Auction Company reserves
the right to hold items until payment can be finalized in its entirety.
Packaging & Shipping: -The Buyer is ultimately responsible for all
removal, packaging, shipping, and insurance costs. Compass Auctions and
consignors in no way will be liable for any damage in loading or
shipping. In the event that Bidder does not make arrangements and/or pay
for shipping, or have items removed in the allotted time disclosed,
Bidder shall have no claim against Compass Auction or consignors and
will forfeit the merchandise with no refunds or recourse. Also packaging
and shipping information listed in all sections of the auction terms and
If you plan to register a titled vehicle in an area that requires an
emission or other test, emissions or other tests are not guaranteed and
it is sold AS-IS unless stated otherwise in the item description. All
titled vehicles are sold AS-IS TOW AWAY in regards to emissions tests.
Emission tests are not provided unless it is stated in the item
description. If an emission test is provided, it is only valid in the
area for which it was issued. It is the buyer`s sole responsibility to
determine if a titled vehicle is legal and able to be registered where
*Titles for vehicles will be mailed within 15 business days for all
EXPORT. Buyer agrees to comply with applicable export control laws and
regulations of the United States (including, without limitation, 15
C.F.R. Parts 730, 736, 738, 744, or 774, and 10 C.F.R. Parts 810.7 and
810.8). Buyer agrees not to export, directly or indirectly, any property
or items purchased hereunder to:A. Cuba, Iran, North Korea, Sudan, or
Syria;B. any person or entity listed on any United States government
denial list, including but not limited to, the United States Department
of Commerce Denied Persons, Entities, and Unverified Lists; The United
States Department of Treasury Specially Designated Nationals List; and
the United States Department of State Debarred List; and C. any entity
Buyer knows, or should know, will export the items or property purchased
hereunder in violation of applicable export control laws and regulations
of the United States.
Domestic customers: All property is sold F. O. B. Origin/Collect (unless
otherwise noted); which for the purposes of this agreement are defined
as follows: customer is responsible for all transport arrangements and
payment, transference of ownership is established to the buyer at the
point of origin when loaded upon the buyers appointed conveyance.
Export shipments: Non-domestic customers- All property is sold Incoterms
Ex-Works-Origin. Buyer shall arrange and bear all customs taxes and
charges and arrange for the loading of the purchased goods. Buyer agrees
to comply with all applicable United States export laws and regulations.
Compass Auctions is not the originator nor responsible for any fees or
INJURY AND DAMAGE:
Bidder acknowledges responsibility for any personal injury or property
damage caused by themselves or his or her agent, and further agrees to
hold the auctioneers Compass Auctions & Real Estate and consignors
harmless from any personal injury to himself or his agents and any
property damage incurred on auction/consignor premises, and releases
Compass Auctions & Real Estate and clients from any liability due to any
damage or injury.
The auctioneers Compass Auctions & Real Estate are acting as the sellers
Auctioneer shall designate the winning bidder after each item is
auctioned. If a dispute arises between two or more bidders, the
Auctioneers reserve the right to reopen the bidding. The auctioneer's
designation of a buyer shall be final.
Any and all disputes that require litigation shall be administered and
shall be enforced and brought in The State of Tennessee, Hamilton
County, and governed by the laws of the State of Tennessee. Compass
Auctions & Real Estate reserves the right to select the venue for the
litigation proceedings whether by arbitration or litigation. Compass
Auctions reserves the right to receive compensation of any and all legal
fees, collection fees and any other charges incurred by Compass Auctions
& Real Estate as a result of any legal action.
BY REGISTERING, BIDDING, AND/OR ATTENDING THIS AUCTION YOU AGREE TO ALL
TERMS & CONDITIONS LISTED AS ACKNOWLEDGED AND SET FORTH BY COMPASS
AUCTIONS & REAL ESTATE
FOR FURTHER INFORMATON PLEASE CONTACT COMPASS AUCTIONS & REAL ESTATE
423-702-6180 OR email@example.com