Thoroughly read the auction information document and familiarize
yourself with the properties offered and the auction terms and
conditions. If you will require financing, please see a lender for pre-qualification. If you
have questions about the terms, conditions or purchase agreement,
contact our office and speak with one of the auction staff. Plan to inspect or drive-by each property in which you are
interested. Establish a range of value for the property and bid
within your limits. We do not recommend that you bid on a property
that you have not seen. There is not an inspection period after the
auction. The deposit listed in the terms is due upon being declared
the winning bidder. The deposit is non-refundable. All information
about the property has been provided by the seller or public
records. All bidders must verify all information to their own
satisfaction prior to bidding. Immediately upon completion of the
auction, winning bidders will be required to execute an Auction
Contract. Please be prepared to close the transaction within 30
Buying real estate at auction is simple and
Good luck in your bidding!
Terms & Conditions For Sale of Real Property: Each property is
offered under the specific terms and conditions provided in the
property information package. Please read and review the terms &
conditions thoroughly prior to bidding on any property. If you have
not read and reviewed the Terms & Conditions of Real Property, Do
Terms: At the close of the auction, successful bidders will be
emailed a contract to be executed and returned to L.W. Benton
Company, Inc.. Successful bidders will deposit an earnest money
deposit as stated in the property information package for each
property in the form of cashiers check, personal or company check
with bank letter or wire transfer with the onsite broker listed for
the specific property. The entirety of the remaining balance is due
at closing within 30 days from the sale date. Purchaser shall be
responsible for all wire transfer fees.
Contract Documents will be sent by e-mail to the successful
bidder, who must execute and fax or email back to L.W. Benton
Company, Inc. within 24 hours of the end of the auction.
Successful bidders not executing and returning their contract
with earnest money deposit within 48 hours of the conclusion of the
auction will be considered in default.
Auction Bid Default: In the event a winning bidder fails to
submit the signed Contract for Sale of Real Property and the
earnest money deposit as provided in the pre-stipulated Auction
Terms, the winning bidder will be charged a penalty fee of $2,000.00
on the credit card provided at auction registration. Additional
default remedies are reserved by L.W. Benton Company, Inc. and the
Seller as provided in the Auction Terms & Conditions and the
Contract for Sale of Real Property.
Bidder Verification: The identity of all bidders will be
verified, bidding rights are provisional, and if complete
verification is not possible, L.W. Benton Company will reject the
registration, and bidding activity will be terminated.
A 10% buyers premium will be added to the bid price to determine
the final contract price.
A 10% buyer's premium will be added to the bid to establish the
contract price the successful bidder must pay. For example, a bid of
$100,000 will be assessed a $10,000 buyer's premium, creating a
contract price of $110,000.
Closings: Time being of the essence, these sales shall be closed
with 30 days of the sale date. The seller will pay for preparation
of the deed of conveyance, and prorated taxes up to the date of
closing. HOA fees and condominium assessments, if any, will be
prorated up to the date of closing. Rents/Incomes will be prorated
to the date of closingThe purchaser will pay all other closing costs
associated with this sale .
Broker Participation: A two and a half percent (2.5%) bid price
commission is available to properly registered brokers. Please
broker participation form for eligibility.
Agency Disclosure: In all transactions, L.W. Benton Company, Inc.
is acting as agent for the seller, not as buyers agent.
This transaction is not contingent on the buyer obtaining financing or
upon any other event except as specifically referred to
in these terms
Multiple tract sales
Individual purchases are to be considered as singular transactions
not contingent on the sale of other properties or tracts. L.W.
Benton Company, Inc.
reserves the right to offer the property in individual tracts or
lots, combinations of tracts or lots, as a whole or in anyway that
we see fit in order
for it to bring the most money for the seller. The sale of
combinations supersedes the sale of individual tracts. The decision
of the auctioneer is
final. Seller and L.W. Benton Company, Inc. reserve the right to
amend any terms or conditions prior to or during the auction.
By its acceptance of the deed, buyer shall be deemed to release
seller & L.W. Benton Company, Inc. from any and all claims and
liabilities relating to any
defect, deficiency of other matter concerning the property
including, without limitation, the quality, condition, quantity, or
use of the property. Sellers & L.W. Benton Company, Inc. give no warranties
of any kind either expressed or implied, with respect to the condition,
merchantability, use, size, configuration, design, or suitability of
Legal courses of action
Bids are a binding offer to enter a contract and you are responsible
for honoring them. Every legal remedy available will be used to
ensure buyer's performance of this contract. Buyer accepts responsibility for and
agrees for buyer and all of buyer's agents, representatives,
successors and assigns to indemnify, defend and hold harmless sellers & L.W. Benton Company,
Inc., their employees, governing body, officers, owners, affiliates,
subsidiaries,directors, agents, and representatives from and against any and all
claims, losses, damages, liabilities, judgments, fees, costs, and
expenses including reasonable attorneys' fees and expenses related to, arising from, or
associated with (I) the sale of the property, including, but not
limited to, personal injuries or property damage incurred on the sale premises or during
removal and transport of any auction item, (II) buyer's use of L.W.
Benton Company, Inc.'s website and (III) a dispute with another
By placing a bid, buyer and all other bidders acknowledge all terms
of the auction and agree not to retract the purchase offer. If a
bidder cannot satisfy the terms of the auction, the bidder should not bid.
Disclaimer: All information contained herein is believed to be
correct to the best of the L.W. Benton Company, Inc. knowledge. The
information is being furnished to bidders for the bidders
convenience and it is the responsibility of the bidder to determine
that information contained herein is accurate and complete. Any
reliance on the contents shall be solely at the recipients risk.
Each bidder must conduct and rely solely upon their own
investigation and inspection. The property is being sold AS IS
with any and all faults. Please review all information supplied and
seek appropriate assistance prior to bidding. Note: Under Title X,
the purchaser of a single family residence built before 1978 has a
maximum of 10 days to inspect the property for the presence of
lead-based paint. All bidders must sign a waiver of the 10 day
post sale inspection period. Any announcements made from the
auction stand take precedence over all other prior announcements either
announced, published, posted, verbal, or communicated in any form.