Auction Terms & Conditions
PROCEDURE: Tracts 1-63 will be offered in individual tracts, or in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the auctioneer. The property will be sold in the manner resulting in the highest total sale price.
DOWN PAYMENT: Successful bidders shall deliver on day of sale to Woltz & Associates, Inc. 10% of the final contract sales price as an escrow deposit via cash, certified funds, cashier’s check, or pre-approved personal check. Personal checks should be accompanied by a bank letter stating that the account is in good standing with the bank and to what amount they will honor day of sale. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING. If a successful bidder fails to close within the time specified, Seller shall have the right to terminate the Purchase Agreement and retain the down payment as liquidated damages in addition to other legal remedies or at Seller’s option, extend the closing past the designated closing date. However, a charge of 1% of the total contract price will be charged to the Buyer per month until closing.
APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the final high bid price to determine contract sales price.
DEED: Seller will provide a special warranty deed.
EVIDENCE OF TITLE: The Seller agrees to furnish bidders a preliminary Owner’s title insurance commitment to review prior to Auction. The cost of the insurance, if Purchaser elects to have the title commitment executed, will be the responsibility of the Purchaser. Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. All tracts sold “AS IS”.
REAL ESTATE TAXES: Real Estate taxes to be pro-rated to day of closing.
CLOSING: Closing shall take place within 30 to 60 days after the auction day, or as soon thereafter as Seller’s applicable closing documents are completed. Announcements on the day of the auction will state the projected closing date for each property.
ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions and/or aerial photos.
SURVEY: at seller's option, the Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in the auction. Any need for a new survey will be determined solely by the Seller, cost of the survey will be split 50/50 between Buyer and Seller. The type of survey performed shall be at the Seller’s option and 50/50 between Buyer and Seller. The type of survey performed shall be at the Seller’s option and between advertised and surveyed acres. If a new survey is determined to be necessary by the between advertised and surveyed acres. If a new survey is determined to be necessary by the if the entire property is purchased by one Buyer. Combinations of tracts or tracts with existing legal descriptions shall not be surveyed. In the event that a tract that requires a survey is combined with a tract that has an existing legal only the new parcel will be surveyed.
PROPERTY INSPECTION: Each potential bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Please feel free to inspect at any other time. Also, tracts are marked with surveyor’s corner markers along roadways and there are auction tract signs for your convenience. Please inspect each tract before bidding.
EASEMENTS: The sale of the property is subject to any and all easements of record.
AGENCY: Woltz & Associates, Inc. and Schrader Real Estate & Auction Company, Inc. and their representatives are Exclusive Agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. Tract acreage has been estimated based on aerial photographs.
ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECIDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company.Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company.
ALL SKETCHES AND DIMENSION IN THIS BROCHURE ARE APPROXIMATE: Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including any warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the auctioneer are final.
NEW DATA: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
STOCK PHOTOGRAPHY: All photographs in this brochure reflect highlights of the property being sold with the exception of the noted stock photography reflecting wildlife and outdoor recreation.