Auction Terms & Conditions
503 Young Ave Real Estate Auction Terms & Conditions
- TERMS AND IMPORTANT AUCTION DETAILS SECTION -
Online bidder registration is separate from live onsite bidder registration. (See specifics below)
A "refundable" deposit of $1,000.00 will be required for online bidder registration. This will be automatically processed at the time of online registration. Bidder will be placed in pending status until card deposit is processed.
Contact 800-729-6466 or email@example.com
503 Young Ave auction is being held both live and online. Registration instructions requirements differ for Live Bidder and Online Bidder. See details below
LIVE ONSITE BIDDER:
1. Must have valid drivers license or government issued photo id
2. Must agree to terms and conditions
3. Arrive at the auction location no later 5:30pm EST in order to complete registration
4. Registration opens at 4:00
5. Onsite winning bidder should be prepared to sign the auction contract
6. Onsite winning bidder should bring check and remit 10% earnest money funds for immediate deposit
ONLINE REGISTERED BIDDER:
1. Complete all online registration requirements
2. Online Bidding Registration - we highly recommend registration be completed prior to 4:00pm EST on Nov. 29th to insure that your registration can be processed. Registration after this time is not guaranteed.
3. Submit $1,000 refundable credit card deposit - this will be auto-processed at time of registration
4. Online bidder will be placed in pending status until deposit processed
5. Online winning bidder should be prepared to sign auction contract via e-sign agreement immediately following auction
6. Online winning bidder should be prepared to submit 10% earnest money deposit by bankwire or by check within 24 hours of auction.
We encourage early registration to insure that your online bidder registration is approved.
*All bidders are expected on or before December 28, 2018
*Brokers/Agents MUST be registered before 4:00pm EST November 27th, 2018 and MUST attend auction with client to qualify.
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 for closing on or before December 28th, 2018. Taxes to be prorated. Possession with passing of Deed at closing. Property is being sold "As-Is" with any and all faults. There are 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 be responsible to conduct any and all inspections buyer deems necessary at buyer's expense prior to the auction date. There are NO Contingencies to this sale. 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 agreeing to all terms and conditions no later than November 29th, 2018 by 6:00 PM Eastern Standard Time. A 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: Auction Day Bidding Process: Registration tables will open at 4:00 pm EST, live auction will commence at 6:30pm EST. Auction Location: 503 Young Ave. Online Bidders - when using the online bidding platform, any online bid submitted should be considered as binding and pending and the live auctioneer record will control. Broker/Agent Participation Qualifications: Participating Broker/Agent must register prospective bidder using Compass Broker/Agent Form no later than November 27th, 2018 at 4:00 PM EST. Participating Broker/Agent must ensure prospective bidder meets all bidder registration qualifications. No exceptions. Broker/Agent must attend auction event with prospective bidder to qualify for compensation. Broker/Agent must register bidder prior to any inspections of the property. No Broker/Agent will be recognized for a prospect that is currently working with Compass Auctions & Real Estate LLC.
STEP 5: Buyer pays all closing cost. Closing to occur on or before December 28th, 2018. Closing attorney to be determined by seller and Compass Auctions & Real Estate.
GENERAL TERMS AND CONDITIONS:
Registration for the auction whether bidding online or in person is representation that each bidder has read and agrees to adhere to the terms outlined, and is in agreement to the terms and conditions of the sale as stated in the contract and its addenda. By bidding you are representing to Compass Auctions & Real Estate, llc. (Compass) and the seller that you have read and agree to be bound by the terms and conditions for the sale as stated. DO NOT BID unless you have read and agreed to be bound by the terms of sale in the Contract as they are enforceable to you upon becoming a high bidder.
All properties are sold "AS IS - WHERE IS" with no financing, inspection or other contingencies to sale with any and all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property and contained in public records. 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 Compass, agent or seller. Seller reserves the right to add or delete property or cancel the sale prior to the auction.
The auctioneer will have sole discretion when to close the bidding for this auction
Compass Auctions & Real Estate, llc has full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Compass Auctions & Real Estate, llc.
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. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee 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.
Compass Auctions & Real Estate, llc and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the agreement and terms for a full and complete understanding of Compass Auctions & Real Estate, llc and Seller's disclaimers. Bidders are strongly urged 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 or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.
Your inspection of the property/properties and attendance at this auction are at your own risk. Auctioneer, Broker and Seller, their agents 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 or auction premises, nor shall they be liable for any defects, dangers or conditions on the property/properties. All persons enter the property, properties, premises and attend the auction at their own risk and shall defend, indemnify, and hold harmless Auctioneer, Broker and Seller, their agents and employees, from any and all liability attendant thereto. This is a public auction and video, audio, images and media are being recorded and may be used in future marketing campaigns. Compass Auctions & Real Estate, llc. By attending the auction in a public environment is your consent for the use of these likenesses and images of any and all media without compensation or liability. NOT responsible for accidents or injuries of any kind for any reason.
All auctions are subject to court or seller approval Buyers are not allowed possession until Closing and filing of the deed. If for any reason the court or Seller approval is not granted, the Down Payment shall be returned to the high bidder. "Showing" requests from Buyers after the auction may not be able to be accommodated.
Online Bidding platform service provider, Compass Auctions & Real Estate, llc. and the Seller are not responsible for technical difficulties during online or remote bidding. The online bidding platform software may be unable to submit bids in the live auction due technical difficulties arising for any reason, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 24 hours prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf. Compass Auctions & Real Estate, llc. Will not be held responsible for any missed bid from any source for any reason whatsoever. We encourage you to attend the auction and bid live to insure that your bid is recognized.
In the event of any conflict between any service providers Terms & Conditions of Service and the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale, the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale shall control in each instance.
Buyer and or Bidder agrees to hold harmless and indemnify Compass Auctions & Real Estate, llc and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc
DO NOT BID unless you have read the Compass Auctions & Real Estate, llc. Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, and the Auction details for each property. BY REGISTERING AND PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY DETAILS, AND THE COMPASS AUCTIONS & REAL ESTATE, LLC. TERMS & CONDITIONS OF SALE.
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, llc reserves the right to select the venue for the litigation proceedings whether by arbitration or litigation. Compass Auctions & Real Estate, llc 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, llc 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, LLC
FOR FURTHER INFORMATON PLEASE CONTACT COMPASS AUCTIONS & REAL ESTATE, LLC
423-702-6180 OR firstname.lastname@example.org
Not responsible for accidents or injuries of any kind for any reason.
Sebae Data Solutions, Inc.
SERVICE TERMS AND CONDITIONS
ACCEPTANCE OF TERMS
Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap
USE AND REGISTRATION
Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).
DESCRIPTIONS OF SERVICE
Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections.
HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION
Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.
The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.
INTERNET ABSENTEE BIDDING
Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction.
Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live".
Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid.
When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels).
The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions.
Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration.
Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer
Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms.
The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal.
Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement.
The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers.
Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers.
THE WINNING BID
The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid.
NOTICE OF END OF SALE, PAYMENT & SHIPPING
After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions.
BUYER'S PREMIUM, TAXES AND DUTIES
If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it.
All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose.
SPECIAL ADMONITIONS FOR INTERNATIONAL USE
Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that:
a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected.
c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC.
LIMITATION OF LIABILITY
You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service.
EXCLUSIONS AND LIMITATIONS
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you.
You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.
You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items.
The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.