Finke Team Auction Terms & Conditions
By participating in this Finke Team Auction (“Auction”), bidder agrees to the following Terms & Conditions:
The purchase price (“Purchase Price”) of the Property will be calculated as follows: the bid price plus Buyer’s Premium of seven to ten percent (7%-10%) of the bid price. (Buyer’s Premiums are an auction industry standard)
Property is being sold “As Is” “Where Is” with NO representations and no warranties express or implied except those set forth herein. All inspections are welcomed prior to auction. Buyer has not relied upon any statement or representation by the Auctioneer or its staff as to the nature or condition of the property nor do they warrant the property, its construction, or condition . All measurements are per county records.
It is the Buyer’s sole responsibility to: (a) Perform all inspections (legal, environmental, economic or otherwise) of the Property and to be satisfied as to its condition prior to bidding; (b) Review all property information and due diligence materials; (c) Independently verify any information they deem important including, but not limited to, information available in public records; and, (d) Inquire of public officials as to the applicability of land use restrictions; environmental laws; zoning; building codes; health codes; and, any other local, state or federal laws and/or regulations. Buyer acknowledges that he/she is relying on his/her own analysis and/or third party inspections performed on Buyer’s behalf and not on any representations or materials provided by Auctioneer.
All information contained in the Auction brochure and all promotional materials, including, but not limited to, photographs, directions, acreage, square footage, dimensions, zoning, maps used for promotion, environmental conditions, taxes, etc., was provided by the Seller, or by people acting on Seller’s behalf. While it is believed to be correct, neither the Seller nor the Auctioneer make any promises, representations, guarantees, or warranties as to the accuracy or completeness of such information. There is no obligation on the part of the Seller or Auctioneer to update any information prior to, or after, the auction. Buyer and/or Buyer’s broker are responsible for verifying all information .
Evidence of Title
Seller(s) will provide title to the Property via warranty deed. Any cost associated with title search or title insurance, as desired by the Buyer, will be at Buyer’s sole expense. Seller will provide owner’s title insurance. Buyer is accepting title subject to (1) Any recorded building restrictions, restrictive covenants, conditions or other use restrictions applicable to the property; (2) Any recorded or visible easements for public road, utilities, or public purposes upon which existing improvements do not encroach ; and, (3) Any mandatory membership associations associated with the property.
Manner of Payment
A non-refundable Deposit in the form of cash or check is due immediately following the auction at the time of signing a purchase agreement. The deposit amount shall be as designated on theMLS sheet. The balance of the Purchase Price will be due thirty (30) days from the date of the auction. If Buyer chooses to obtain financing for the balance of the purchase price, completion of this transaction IS NOT subject to obtaining financing nor is it subject to appraisal. Buyer shall pay all normal closing costs associated with purchase and financing.
Real Estate Taxes, Assessments & Association Dues
The real estate taxes, assessments and association dues shall be prorated to day of closing. Seller(s) will pay real estate taxes and assessments that are due and payable during the year in which closing occurs, and taxes payable during the succeeding year as computed and prorated to day of closing. Buyer(s) would assume and pay all subsequent taxes and assessments, computed based on the last tax bill available.
Possession of Real Estate shall be as per designated in writing on MLS sheet .
Buyer may not terminate this agreement in the event that the Property is located in an area that may require flood insurance or that is subject to building or use limitations by reason of such location. Buyer shall pay for and be responsible for flood certification.
Federal Lead-Based Paint Disclosure
Every Purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is being notified that such property may present exposure to lead from lead-based paint. All inspections and assessments for the presence of lead-based paint and/or lead-based paint hazards must be made prior to auction. Buyer waives the 10-day opportunity to conduct such assessment and acknowledges receipt of lead-based paint disclosure form.
The Indiana Sheriff’s Offender Registry (www.indianasheriffs.org) exists to inform the public about the identity, location, and appearance of sex offenders residing within Indiana. Neither Seller or Auctioneer is responsible for providing or verifying this information.
Re/Max Finke Team Auctions is acting exclusively as agents for the Seller.
Right to Accept or Reject
This Property is being offered for sale subject to Seller confirmation on auction day. Seller reserves the right to accept or reject any and all offers for any reason. However, the sole purpose of this Auction is to sell the property. Please come prepared to purchase this property at auction.
The Seller has agreed to the terms of the sale as published. However, the Broker and Auctioneer make no warranties or guarantees as to the Seller’s performance.
Equal Opportunity Clause
All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser’s race, color, national origin, religion, sex, familial status, or physical handicap.
All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding, and any other matters that may arise before, during, or after the Auction. Seller reserves the right to deny any person admittance to the Auction or expel anyone from the Auction who attempts to disrupt the Auction. If the Bidder fails to comply with these terms, all Earnest Money shall be forfeited. Seller shall be entitled to pursue all other available legal and equitable remedies against Bidder, including but not limited to specific performance, or damages resulting from any costs or deficiency resulting from a subsequent resale. In the event of any litigation arising out of this Auction or any breach of these terms and conditions, the prevailing party in any litigation shall be entitled to attorney fees and all costs of litigation. The sale will be governed by, and construed in accordance with, the laws of State of Indiana. The parties agree that any dispute arising from this Auction, or any violation of these terms and conditions, shall be brought in Bartholomew County and the parties specifically waive any objection to that venue. By accepting these terms, Bidder agrees these terms will supersede all prior discussions, negotiations and agreements, whether oral or written. Bidder agrees his/her actions shall be binding upon the undersigned, their heirs, administrators, executors, and successors in interest. Bidder may not assign the rights afforded the Bidder to any other party without the Seller’s written consent. No amendment, alterations or withdrawal of these terms and conditions shall be valid or binding unless made in writing and signed by both Seller and Bidder. The successful Bidder agrees to immediately execute a Purchase Agreement in accordance with these terms at the end of the Auction.
Bidder accepts Terms & Conditions and agrees to be bound by them.