SOUTHEAST AUCTION COMPANY INC
14433 HIGHWAY 69 SOUTH
TUSCALOOSA AL 35405
GENERAL TERMS AND CONDITIONS
For Real Property
Specific Properties will have Terms and Conditions
that fit that specific purpose
(Real or Personal Property)
These conditions of sale supersede
any prior oral or printed statement and will be attached and become part of the
sales contract.
Southeast Auction Company, Inc. has a
contract to sell property located at *see addendum*.
The property is sold “AS IS” with no
warranties of any kind whether expressed or implied, including, but not limited
to, habitability or fitness for a particular purpose. This property will be sold subject to any
existing right-of-way, easements, encroachments, restrictions of record,
zoning, flood plains health department regulations, public utilities, any state
and local law, and the terms and conditions of the sales contract.
This property will be conveyed by
Statutory Warranty Deed subject to all rights of redemption. Seller shall have a reasonable time within
which to cure any defects in title. All
closing expenses, including Title Search and Title Insurance shall be split by
the Buyer and Seller equally unless quoted differently on addendum. The closing will be conducted by a closing
company within 30 days of auction date.
The auctions will run for 10 days unless quoted differently on addendum.
Terms of sale will be 20% down
payment within 48 hours of the end of the auction with the balance of purchase
price to be paid in cash or cashier’s check on day of closing. Please see addendum for specific real
property information. A buyer’s premium
will be added to the winning bid price to arrive at the total contract
price. See specific terms for buyer’s
fee. This sale is not contingent upon
the buyer obtaining financing. Checks
are to be made payable to Southeast Auction Company Inc. and will be held in
their escrow account until closing.
In the event that the purchaser fails
to close and pay his/her balance when due, the down payment shall be retained
by the Seller as liquidated damages.
Buyer and Seller acknowledge that the actual amount of damage sustained
by the seller, in the event the buyer fails to close the subject property are
impossible to ascertain; therefore the parties hereby agree upon the amount of
the down payment as liquidated damages.
All bidders must register
online for online auctions and be approved by auction company before placing
bids.
The Seller and Southeast Auction
Company, Inc. make no representation or warranty as to the availability of
utilities or adequacy or suitability of the property for the Purchaser’s
purposes. The Seller and Southeast Auction
Company, Inc. make no representation of warranty as to concurrency or
zoning. Purchaser agrees that purchaser
is not relying on any warranty or representation of Seller or any agent and the
purchaser is buying the property “AS IS-WHERE IS” subject to all faults and
without any expressed or implied warranties of any kind, including but not
limited to the environmental condition of the property.
All information furnished by the
Seller and Southeast Auction Company, Inc. is believed to be correct but is not
guaranteed. No warranties, statutory or
otherwise, expressed or implied are given by the Seller or Southeast Auction
Company, Inc. It is the bidder’s
responsibility to inspect the property and be satisfied as to its condition
prior to the auction.
All decisions of the auctioneer shall
be final; including but not limited to decisions on matters such as increment
of bidding. Disputes among bidders order
of bidders and any other issues that may arise during the sale.
SOUTHEAST AUCTION COMPANY, INC. IS SELLING
AGENT ONLY AND MAKES NO REPRESENTATION CONCERNING THIS PROPERTY WHATSOEVER.
SOUTHEAST AUCTION COMPANY, INC.
REPRESENTS THE SELLER IN ALL TRANSACTIONS CONCERNING THIS SALE.
Southeast Auction Company, Inc.
By:
_____________________________________ Date ___________________________
________________________________________ Date ___________________________
Buyer’s
Signature
________________________________________ Date ____________________________
Buyer’s
Signature
________________________________________ Date ____________________________
Seller’s
Signature
________________________________________ Date ____________________________
Seller’s
Signature