Terms and Conditions of Online Only Real Estate Auction
This online only auction is absolute with no reserve and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate.
A Buyer’s Premium of 3% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to executed and returned to Beckort Auctions, LLC within twenty-four (24) hours of the completion of the auction. The entirety of the remaining balance is due at closing on or before Thirty (30) days from Auction Day. Purchaser will be responsible for all wire transfers.
Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, seller will provide deed preparation.
Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally liable for any and all costs incurred by Seller and Beckort Auctions, LLC incurred in a subsequent resale of the property.
Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline.
Beckort Auctions, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Beckort Auctions LLC will reject the registration, and bidding activity will be terminated.
Buyer acknowledges they are buying property “as-is, where-is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10-day lead based paint test.
Sellers will provide an owner’s policy of title and convey title with a Bankruptcy Trustee’s Quitclaim Deed.
Beckort Auctions LLC and their representatives are Exclusive Agents of the Seller(s).
Real Estate is sold subject to any and all existing matter of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date.
All Beckort Auctions, LLC Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the auction for 10 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00pm receives a bid at 5:59 pm, the close time of the auction automatically extends to 6:10 pm. The auto-extend feature remains active until no further bids are received within the 10 minute time frame.
A two percent (2% variable) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Beckort Auctions, LLC twenty-four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility.
Beckort Auctions, LLC and their representatives are Exclusive Agents to the Seller.
From Lanesville, east on SR 62 2.7 miles, left on Tandy Rd 0.7 miles, then right on Old Salem Rd 0.6 miles to site. From I-64 exit #118 Georgetown, southwest on SR 62 3.3 miles, right on Tandy 0.7 miles, then right on Old Salem Rd 0.6 miles to site.