Auction Terms & Conditions 295
- TERMS AND IMPORTANT AUCTION DETAILS SECTION -
Due to the COVID 19 virus we are recommending that all buyers bid online. Preview inspection will be open but access to the Compass facility may be restricted. Please contact our office for scheduling a preview time. 800.729.6466 or email firstname.lastname@example.org
1. AUCTION EVENT TYPE: Live Virtual Bidding Online
2. LOCATION ADDRESS: 3114 Freeman St. Chattanooga, TN. 37406 Office # 800-729-6466
3. AUCTION DATE: 03/21/2020
4. AUCTION PRE-BID START TIME: 03/11/2020
5. INSPECTION DATES: Friday, March 20th 8:30AM-4:00PM EST or By
Appointment email@example.com or 800-729-6466
6. BUYERS PREMIUM:13% Onsite 15% Hibid
7. SALES TAX: 9.25%
8. TAX EXEMPT BUYERS: A valid Tax Exemption Certificate MUST be presented
at time of checkout. NO EXCEPTIONS - NO REFUNDS
9. TYPES OF PAYMENT: Cash | Certified Funds | Checks
Bank Wire add +$18.00 fee Domestic or $36.00 fee International
*Credit Cards up to $500.00**
All Credit Card transactions incur a +3% processing fee we accept:
Visa | MasterCard |AMEX | Discover
Checks: With a Bank Letter of Credit (see letter guidelines below
Amounts over $5,000.00 require a bankwire or certified funds for payment
10. PAYMENT & CHECKOUT TIME: Online Bidder - Within 2 Business Days
** If you currently do not have the funds to pay for your purchases, DO NOT BID **
11. REMOVAL INSTRUCTIONS: No items may be removed until ALL items are
PAID IN FULL.
NOTE: Payment is still due within 48 hours of invoicing.
All items must be removed by March 31, 2020.
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 - 3/31/2020
(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 8:00AM -4:00PM EST - ** 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. **
14. FIREARM INFORMATION
Bidding and Purchase of firearms:
All ATF and FFL laws and regulations apply. Background Check Required
Onsite Pickup/IN STATE RESIDENTS:
Winning bidders of all firearms and frames will have to pass a TICS FFL background check before the transaction can be completed. The cost of the transaction, pass or denied, is $10 For every 5 firearms. If the transaction is denied, an appeal from the buyer may be filed with TICS. No straw purchases.
Online/Out of State Bidders:
Firearms will be shipped to your designated FFL. A copy of your FFL, or the dealer you want to have your firearms shipped to, must be provided prior to shipment of the firearms. Compass Auctions & Real Estate, LLC uses USPS and UPS for all shipments.
***Guns will be shipped at Postage cost plus a handling fee of $25 per gun for long guns, $15 per gun for hand guns. In the event multiple firearms are purchased, items can be packed and consolidated as much as possible to reduce shipping costs. Call for details. Items will be shipped within 10 business days after FFL has been verified and payment received.
*******For State restrictions and Remainder of Firearms Terms and Conditions See Firearm section below******
PLEASE NOTE: Auction 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 800-729-6466
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.
** 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. **
**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 800-729-6466
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 800-729-6466
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 Have a 3% Additional Fee, and Bank Wire
Transfers have additional fees of ($18.00 Domestic) ($36.00 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./Mrs. (Customer Name) is a customer in good standing at our bank. We will
guarantee the payment of checks on his/her 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, the 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, the 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, LLC. 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 wires and a $36.00 for international wires.
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, refusal or any other act to cause
monetary expense to be incurred to a consignor's/seller's 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/seller,
will 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/seller, is 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/seller will
in any way, be responsible for any damages or injuries 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/seller will in no way be
liable for any damage in loading, shipping or removal of items. In the
event that Bidder does not make the necessary 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, 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. 800-729-6466 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, 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
Consignor/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 THEIR OWN EXPERTISE IN CHOOSING TO MAKE ANY PURCHASE. Compass
Auctions & Real Estate, LLC. and Consignor/Seller assume no liability for any
environmental issues in the assets being sold. Compass Auctions & Real
Estate, LLC. and Consignor/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 and weights of items are approximate. All
information provided by the Consignor/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 claims 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.
Term and Conditions for firearms
Bidding and Purchase of firearms:
All ATF and FFL laws and regulations apply.
Winning bidders of all firearms and frames will have to pass a TICS background check before the transaction can be completed. The cost of the transaction, pass or denied, is $10. If the transaction is denied, an appeal from the buyer may be filed with TICS. No straw purchases.
Online/Out of State Bidders:
Firearms will be shipped to your designated FFL. A copy of your FFL, or the dealer you want to have your firearms shipped to, must be provided prior to shipment of the firearms. Compass Auctions & Real Estate, LLC uses FedEx and UPS for all shipments.
***Guns will be shipped at a rate of $25 per gun for long guns, $15 per gun for hand guns plus postage and insurance costs. In the event multiple firearms are purchased, items can be packed and consolidated as much as possible to reduce shipping costs. Call for details. Items will be shipped within 14 business days after FFL has been verified and payment received.
***No magazine fed semi-automatic firearm will be shipped to states that prohibit such weapons or high capacity magazines. State high-capacity magazine bans:
" California - Law: PC 32310.
" Colorado - Law: Sec. 18-12-301
" Connecticut - Law: Bill No. 1160 LCO No. 5428
" Hawaii - Law: Haw. Rev. Stat. § 134-8(c)
" Maryland - Law: 4-301
" Massachusetts - Law: Mass. Gen. Laws ch. 140, § 121; Ch. 140, § 131M.
" New Jersey - Law: N.J. Rev. Stat § 2C:39-9h. N
" New York - Law: NY 265.00 23.
No Firearms or Ammo will be shipped outside the 48 contiguous United States.
After February 1, 2010, ammunition sold to purchasers in the state of California, can only be shipped to the purchaser's designated FFL.
All firearms and ammunition must be shipped to an active FFL.
***YOU ARE RESPONSIBLE TO KNOW THE LAWS OF YOUR STATE, NO REFUNDS***
Feel free to contact Compass Auctions & Real Estate, LLC. at
firstname.lastname@example.org or 800-729-6466 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 and $36.00
for international will be added to all bank wired funds. -Compass
Auctions & Real Estate, LLC. 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, WHERE IS". It is solely the bidder's responsibility to
determine the exact condition and approximate count of each item that he/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, LLC.
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 Auctions 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 approximation. Any dismantling
of items is prohibited on the auction site or any consignor/seller property.
Under NO circumstances shall the Bidder have any claim against Compass
Auctions & Real Estate, LLC. or consignor/seller 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 regarding 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 consignor/seller and Compass Auctions & Real
Estate, LLC. reserve the right to bid on behalf of the consignor/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, LLC. 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
precedence 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, LLC. is providing
Internet Auction bidding as a service. Compass Auctions 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 and conditions 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 and conditions set forth in this contract.
Compass Auctions & Real Estate, LLC. reserves the right to refuse service or
decline registration to any person/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/sellers will in no way 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 Auctions or consignors/sellers 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, WHERE 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 21 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, LLC. and consignors/sellers
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, LLC. and clients from any liability due to any
damage or injury.
The auctioneers at Compass Auctions & Real Estate, LLC. 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, LLC. 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, LLC. as a result of any legal action.
REAL ESTATE SPECIAL TERMS AND CONDITIONS
Fradonia Mountain Lots are being held both live and online. Registration instructions requirements differ for Live Bidder and Online Bidder. See details below
ALL registration steps must be completed in order to be approved to bid in this auction.
DATE OF AUCTION: November 30, 2019
TIME OF AUCTION CLOSE: Approximately 1:00 pm EST - this auction implements live webcast technology and will extend bidding for a determined timeframe with each bid.
TYPE OF AUCTION: Online Only Bidding
1. Register to bid in the online auction - complete all steps to be approved
2. A "refundable" deposit of $500.00 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
ONLINE BIDDING REGISTRATION - we highly recommend registration be completed prior to 4:00pm EST on December 6th to insure that your registration can be processed. Registration after this time is not guaranteed.
BIDDER DEPOSIT: Submit $500.00 refundable credit card deposit - this will be auto-processed to the credit card used at time of registration
BIDDER STATUS: Online bidder will be placed in pending status until deposit processed
CONTRACT: Online winning bidder should be prepared to sign auction contract via e-sign agreement immediately following auction. 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.
EARNEST MONEY DEPOSIT: 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.
*BROKERS/AGENTS: MUST be registered before 4:00pm December 6, 2019 at 4:00 PM EST and MUST be available during the auction. Participating Broker/Agent must register prospective bidder using Compass Broker/Agent Form no later than December 6, 2019 at 4:00 PM EST. Participating Broker/Agent must ensure prospective bidder meets all bidder registration qualifications. No exceptions. 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 in any form.
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 January 3rd, 2019. 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.
BIDDER REGISTRATION QUALIFICATIONS: Bidder must fully register with Compass Auctions & Real Estate LLC agreeing to all terms and conditions no later than December 29th @ 4:00 PM Eastern Standard Time. A Valid government-issued picture ID may be requested. Proof of funds - If paying cash at close you may be required to send 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.
CLOSING INFORMATION: Buyer pays all closing cost. Closing to occur on or before January 3, 2019. Closing attorney to be determined by seller and Compass Auctions & Real Estate. If financing, you must provide your loan commitment documents on bank/lender letterhead. If you are a legal entity such as a trust or corporation, you must provide articles of incorporation, trust documentation or other proof of signing authority. The foregoing documentation must be provided within 24 hours of the acceptance of your bid. THIS AUCTION IS SOLD AS IS WHERE IS WITH NO CONTINGENCIES AND IS NOT CONTINGENT ON FINANCING.
ALL CLOSING COSTS ARE THE RESPONSIBILITY OF THE PURCHASER, INCLUDING COSTS CUSTOMARILY PAID BY THE SELLER UNLESS OTHERWISE STATED.
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 Compass, agent or seller. Seller reserves the right to add or delete property or cancel the sale prior to the auction.
CONDITION OF THE PROPERTY: You agree that you 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 as zoning and building codes. Seller makes no warranty as to title, condition, or legal status.
AUCTIONEER RESPRESENTATION: Auctioneer represents the seller only and does not inspect properties. Bidders must conduct their own due diligence, inspection 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, 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 and may be in error. Furthermore, the Auctioneer and Seller DO NOT WARRANT OR IN ANYWAY GUARANTEE the accuracy thereof. Seller has made no independent investigation of any information provided, and assumes no responsibility for the absence or providing of any information, whatsoever, or for the accuracy thereof.
POSSESSION: Other than as disclosed in the web page for any particular parcel of property, Seller makes no representation as to the occupancy of any parcel offered for sale in this Auction and Seller further will not place you in possession of the Property at closing. That is, Seller will not evict any tenants or squatters who may be present on the Property. It is your duty to conduct your own due diligence regarding the status of occupancy prior to bidding. After closing, it is your obligation to ensure that your possession of the Property is lawfully accomplished. It is expressly up to the buyer to verify whether or not the property is occupied.
DUE DILIGENCE: You are responsible for verifying the legal description, condition of title, square footage, acreage, zoning regulations and conformity, taxes, back taxes, liens, permitting, utilities, school zones, condition of property, HOA dues, and any and all other information you deem appropriate. You are responsible to conduct any and all due diligence you deem necessary at your expense prior to bidding. There are NO CONTINGENCIES to this sale and the sell is not contingent on inspection period prior to or after the bidding. Bidders may enter unoccupied properties to conduct limited due diligence at their own risk, but may not enter any property identified as occupied and may not enter any structures on the property without prior written approval from Compass Auction & Real Estate, LLC. Bidders may not conduct any invasive or destructive testing of the property, including phase II environmental site assessments.
ASSUMPTION OF RISK. Your inspection of the property(ies) and attendance at this auction are at your own risk. Auctioneer, seller, 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 hold harmless auctioneer, broker and seller, their agents, contractors, and employees from any and all liability attendant thereto.
DEED: Delivered at closing shall be a general warranty deed.
All properties are subject to confirmation.
ERRORS AND OMISSIONS - Information has been provided for these properties, however Compass will not be held responsible, liable, or accountable for any error or emission in descriptions, images, or any information from any source whatsoever. Bidder is responsible for their own research and all information associated with each property. By bidding in this auction bidder is relying solely on their own knowledge, expertise and investigation.
AUCTIONEER AUTHORITY: The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or adjust, or separate quantities offered, 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, to sell out of scheduled sequence, and to cancel or re-schedule an auction. The Auctioneer will call the sale either live, online and or both and control any increments of bidding. Auctioneer reserves the right to bid on behalf of the seller. 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. The Auctioneer is the controller of the conduct of the auction and shall be the final and absolute authority without liability to any party. The auctioneer will be the final authority in determining highest bidder in the event of any question as to highest bidder. 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.
BIDDING AND TECHNOLOGY: Auctioneer 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 precedence 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, LLC. is providing Internet Auction bidding as a service. Compass Auctions will not be held responsible for any issues with technology, or for any missed bids for any reason whatsoever whether live onsite Auction or live bidding over the internet or for any technology issue. - 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 and conditions 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 and conditions set forth in this contract. This auction is using a soft close feature and bidding will extend by a designated timeframe when a bid is placed per lot.
CANCELLATION; LIQUIDATED DAMAGES. If the high bidder breaches any portion of the of these auction Terms of Sale, or the Contract for Sale and/or fails to return all executed copies of all required documents or the required down payment, the seller has the right to cancel or void bidder's high bid offer and shall be rejected by the seller and any 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 potential loss to the auctioneer, the earnest money deposit or the bid deposit held on bidder's credit card at the time of registration whichever is greater. The bidder hereby authorizes Auctioneer to charge the credit card used to register for the Event the bid deposit or the earnest money deposit whichever is greater to satisfy all or part of the associated damages caused and owed to Auctioneer by bidder.
CONTRACT FOR SALE DEFAULT. If the high bidder executes the Contract for Sale and other required documents and tenders the down payment, but fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), the high bidder shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all down payment monies as liquidated damages to Seller. State statutes may give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include legal action to pursue finalization and or completion of the sale, and or criminal charges.
DISCLAIMERS, NO WARRANTIES, ERRORS & OMISSIONS. AUCTIONEER AND THE SELLER EXPRESSLY DISCLAIM ANY LIABILITY FOR ERRORS, OMISSIONS, OR CHANGES REGARDING ANY INFORMATION PROVIDED FOR THESE SALES. SELLER, REPRESENTATIVES AND AUCTIONEER HAVE NO KNOWLEDGE OF THE SUBJECT PROPERTY OR ITS FIXTURES, CONDITION, ZONING, ENCUMBRANCES, LIENS, ENCROACHMENTS AND ARE NOT RESPONSIBLE FOR SUCH. 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, REPRESENTATIVES OR THEIR AGENTS AND EMPLOYEES. PROPERTY INFORMATION MAY BE UPDATED AND CHANGE WITHOUT NOTICE AND POTENTIAL PURCHASERS SHOULD INVESTIGATE ALL DATA FULLY BEFORE RELYING UPON IT AND BID ACCORDING TO THEIR SOLE DISCRETION.
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 COMPLETE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AND AUCTIONEER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS. BY PLACING A BID IN THIS AUCTION YOU ARE ENTERING INTO A LEGAL AND BINDING CONTRACT.
COMPASS STRONGLY RECOMMENDS REVIEWING THE FULL TERMS AND CONDITIONS.
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 ACT
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
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