REAL ESTATE TERMS AND CONDITIONS
213 Meadowbrook Dr, Temple, TX 76504
PROPERTY TO BE OFFERED AT 11 A.M., February, 18 2017
PROPERTY INSPECTIONS: All interested bidders are highly encouraged to view the property prior to placing any bids at the auction. The property shall be shown by appointment only prior to preview on Friday, February 17th from 4-6 PM. To inspect the property, please contact broker prior to auction day, call United Country Central Texas Auction and Realty, Office: 254-718-5120; Holly Parker, Realtor: 254-231-2272.
BIDDER PACKAGES: An informational packet relating to the property may be obtained by prospective bidders by contacting the Auction Company, United Country Central Texas Auction and Realty, 254-718-5120. Bidder Packages are not designed to replace the bidder’s responsibility of conducting their own due diligence with respect to any Auction Properties. It is solely a source of information which has been gathered and designed to help Bidders with the inspection and informational process.
AUCTION REGISTRATION: Bidders will be required to register onsite at the auction. A copy of the auction terms and conditions will be present for ALL bidders to review prior to registering and accepting a bidder’s number at the auction. All bidders shall be required to use a registered bidder’s number to place any bid at the auction. Registration will begin approximately two hours prior to the announced auction time.
REQUIRED TO BID ON THE REAL ESTATE: A Bank Letter of Guarantee for 10% of the amount bidder plans to bid is required to register. If the bidder is successful a 10% down deposit is due sale day. Please present your Bank Letter of Guarantee to the auction company clerk upon registration. A Bank Letter of Guarantee will be required for up to 10% of the amount bid.
10% BUYERS’S PREMIUM: A 10% Buyer’s Premium will be added to the high bid on the property. The contract price will be the high bid plus the Buyer’s Premium and the 10% Buyer’s Premium is due at close of auction.
PROPERTY CONDITION: The information given in this auction packet is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agent(s). Any information contained in the listing and all related materials are subject to the terms and conditions of the Auction Purchase Agreement and Sale Agreement. The property is being sold “AS IS, Where Is” with any and all faults. Bidder’s complete inspection of the property is highly recommended prior to placing bids at the auction. The property listed may be withdrawn or modified without notice at any time.
HIGH BIDDER REQUIREMENTS: If the sale is approved, the high bidder will be required to pay Ten Percent (10%) of the total contract price and sign an auction purchase agreement immediately following the auction with a Bank Letter of Guarantee to cover the full amount of the check. Acceptable forms of the payment shall be cash, cashier’s check or check with Bank Letter of Guarantee and shall be payable to CentraLand Title. The balance of the purchase price shall be due from the buyer at closing. This auction is not contingent upon the buyer’s ability to obtain financing.
CLOSING: Closing shall be within Forty-Five (45) days following the date of the auction (Tuesday, April, 2017). Possession shall be delivered to the buyer at closing. The Closing shall be held at CentraLand Title, 2005 Birdcreek Dr # 100, Temple, TX 76502. The closing agent is Sarah Donahoe and her contact information is 254-771-1346, email@example.com. Seller shall furnish the buyer an Owner’s Title Insurance Policy covering the described property, in the amount of the total purchase price and shall transfer title with a Special Warranty Deed.
TAXES: The 2017 property taxes shall be prorated to the date of closing. The 2016 property taxes were $2,379 for 213 Meadowbrook Dr., Temple, TX 76504 also known as THE MEADOWS PHASE II, BLOCK 002, LOT 0014
EASEMENTS AND LEASES: Sale of said property is subject to any and all easement of record and any and all leases.
AGENCY: Central Texas Auction Services, LLC/United Country Central Texas Auction and Realty and our agents, representatives, auctioneers and employees are Exclusive Agents of the Seller.
AUCTION PROCEDURE: The auctioneer shall at his sole discretion offer the property in any order, format or bid increment, which he determines is in the best interest of the Seller.
BROKER PARTICIPATION: A Two Percent (2%) buyer’s broker commission will be paid to any properly licensed real estate broker who signs in and represents a winning buyer, which successfully closes on the property. All commissions (including Buyer’s Broker Fees) shall be paid out of closing. To qualify for a Buyer’s Broker Commission, the real estate broker must be a licensed real estate broker who is not prohibited by law from being paid such commission and has completed the required Buyer’s Broker Incentive Program form provided by the auction company. The Buyer’s Broker Incentive Program form MUST be turned in to UCCTAR by 1:00 p.m., Friday, February 17, 2017. Buyer’s Broker may obtain our form by calling 254-718-5120 or email Holly at firstname.lastname@example.org.
SPECIAL PROVISIONS: N/A
DISCLAIMER: The information provided in this auction is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agent(s). Any information contained in the listing and all related materials are subject to the terms and conditions of the Auction Purchase and Sale Agreement. The property is being sold “As Is, Where Is” with all faults. Bidder’s complete inspection of the property is highly recommended prior to placing any bids at the auction. Any announcements made on auction day will take precedence over all printed materials. Any of the properties listed may be withdrawn or modified without notice at any time. The Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction activities who may create a distraction from the auction, bid rigging, canvassing, soliciting or other reasons deemed necessary by the auctioneer. All monies bid and /or paid in this auction shall be in U.S. currency.
Buyer understands that his/her Buyer’s Premium paid on Auction day is a non-refundable fee and that if Buyer fails to close on property they forfeit their fee. By signing below, you authorize Title Company to release the buyer’s premium to United Country Central Texas Auction and Realty if you fail to meet your obligations of this contract.
By bidding and signing this form you agree to these Terms and Conditions.
Central Texas Auction Services, LLC Terms & Conditions
213 Meadowbrook Dr. Living Estate – Live Auction
Saturday, February 18th @ 10:00 AM CST
Preview: Friday, February 17th from 4-6PM
Buyer Premium for On-Site: 13%
Sales Tax: 8.25% - Sales tax applied to invoice total
Payment Options: Cash, Check, Visa, MasterCard, Discover
Pickup Location/Times: Pick-up will immediately following the auction until 5:00pm and Sunday, February 19, 2017 from 1-3PM.
Special Terms: All property is sold AS IS, WHERE IS and ALL SALES ARE FINAL. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. Central Texas Auction Services, LLC may attempt to describe the merchandise in advertising, on the internet and at the auction but makes no representations. In no event shall Central Texas Auction Services, LLC be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Central Texas Auction Services, LLC shall endeavor to describe in detail each item and any pertinent information about it. Central Texas Auction Services, LLC will not be responsible for any errors or omissions in the description of the merchandise. Bidder agrees that everything is sold as is and that they may not return any item they purchase. Central Texas Auction Services, LLC is providing internet only bidding for this auction. Bidder acknowledges and understands that this service may or may not function properly at the close of the auction. Under no circumstances shall Bidder have any kind of claim against Central Texas Auction Services, LLC or anyone else if the internet service fails to work correctly during the close of the auction. Central Texas Auction Services, LLC will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the close of the auction. Central Texas Auction Services, LLC reserves the right to withdraw or re-catalog items in this auction.
• Everything must be paid in full on the day of the auction IMMEDIATELY following the close of the auction regardless of when it is picked up.
• Everything will be sold “AS IS WHERE IS”, with no guarantees of any kind, regardless of statement of condition made from the auction block. Buyers shall rely entirely on their own inspection and information.
• The Bidder is responsible for knowing which item he is bidding on. If he is unsure, he should inquire or not bid. When you become the winning bidder at auction you have effected a contract and will be expected to pay for items in which you were evidenced to be the successful bidder. Auctioneer will not honor “mistakes”.
• The Auctioneer reserves the right to accept bids in any increment he feels is in the best interest of his client, the seller. The Auctioneer reserves the right to reject the bidding of any person whose conduct, actions or adverse comments he feels are not in the best interest of the seller.
Central Texas Auction Services, LLC is licensed and regulated by the Texas Department of Licensing and Regulations. Any complaints should be directed to the Department at 920 Colorado Drive, Austin, TX 78701, 512-463-6599.
T. Gallaway TX LIC#12798, J. Parker TX LIC#13930