Auction Terms & Conditions CHISUM REALTY & AUCTION
Each property is subject to a minimum opening bid. If the high bid for any single property meets or exceeds the minimum opening bid, the property will be sold subject to the terms and conditions of the Purchase Agreement executed between the parties.
There is a 10% buyer's premium on all properties in this auction. The contract price on the Purchase Agreement will be calculated as the (high bid + 10% = contract price.)
FIRST BIDDER DISCOUNT
The first bidder who enters a bid on a property will receive a 20% discount as applied to the Buyer's Premium if they are the successful high bidder and purchaser of that property.
EARNEST MONEY DEPOSIT
Immediately following the close of bidding, the successful bidder will execute a Purchase Agreement and deposit the higher of either $500.00, or 10% of the contract price with the escrow agent.
The Purchase Agreement is not assignable, not contingent upon financing, and not contingent upon inspections. Each buyer is responsible for obtaining their own financing. If you are not a CASH buyer, and you cannot obtain financing, DO NOT BID OR YOU MAY LOSE YOUR EARNEST MONEY. This agreement is subject to the Seller being able to provide insurable title. Buyer will pay all closing costs except for the Seller providing owners title insurance and pro-rated taxes. All adjustments of property taxes or other pro-ratable items shall be as of the Closing date. A copy of the Purchase Agreement may be obtained from the Auctioneer upon request.
The balance of the purchase price is due at closing on or before November 15, 2019.
Each property is being sold "as-is", "where-is", and "with-all-faults, if any. No warranty as to condition or suitability for any purpose is expressed or implied. Bidders shall rely entirely on their own information, judgment and inspection of the property and records prior to the auction. No personal property will be conveyed. Please review the ENTIRE CONTENTS OF THE PROPERTY INFORMATION PACKET. Bidding signifies agreement to all disclosures contained therein. Bidding signifies you have READ AND AGREE with terms and conditions of the auction.
Neither Seller nor Auctioneer shall be liable for any personal injury on the property location during any preview or inspection. Buyer assumes all risk and liability whatsoever resulting from the purchase of the properties sold hereunder, and shall defend, indemnify, and save harmless Seller and Auctioneer from any liability.
Unresolved complaints may be reported to the Texas Department of Licensing and Regulation, P.O. Box 12157, Austin, Texas 78711. Auctioneer: Matthew C. Armstrong, TDLR # 17082. Chisum Realty & Auction is the broker of record, TREC # 9005615
AUCTIONEERS FOR THIS AUCTION ARE SELLING AGENTS ONLY AND MAKE NO REPRESENTATIONS CONCERNING THE PROPERTY WHATSOEVER.
Seller User Terms
Bidder User Terms