AUCTION TERMS

Property in its entirety is being offered absolute to the highest bidder, without reserve, sold at the property on October 9, 2019 at 5 PM CDT. The successful bidder will complete an auction purchase contract at the conclusion of the auction. Online bidding through Proxibid.com will also be available. Approval prior to auction is required for online bidders

Property and improvements are offered AS-IS with no contingencies or warranties. Any and all inspections and due diligence must be conducted prior to auction day.

Buyers Premium: A 10% Buyer Premium will be added to the auction hammer price to determine the Contract Price for the property. An additional 1% Buyer Premium will be added for online bidders.

Personal Property Values: The final contract price including buyer premiums will include all real estate & personal property listed in the brochure. The fair market value on the personal property has been predetermined at $176,600. Please note, the value allotted to the personal property of $176,000 is INCLUDED within the hammer price and buyer’s premium.

Closing: Property will close within 60 days of the auction or by December 9, 2019 at 5 PM CST. Southern Title LLC will act as the closing agent. The 2018 and prior taxes will be paid by the seller. The 2019 taxes will be prorated to the date of closing. Title insurance will be split equally between the buyer and seller.

Deposit Amount: A payment of 10% will be due the day of the auction. This payment can be made with cash, certified funds, personal or company check. This money will be deposited into the Trust Account of Ruhter Auction & Realty, Inc. The balance at closing must be certified funds or wire transfer to the closing company.

Agency Disclosure: RES Auction Services and Ruhter Auction and Realty, Inc. are acting as auctioneer/agent is an agent for the seller only. Joseph Mast, Auctioneer, Seth Andrews, Broker, and all agents of Ruhter Auction & Realty, Inc.

Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage, acreages and other dimensions are approximate.

Due Diligence: It is your responsibility to obtain and read the Property Information Package relating to the property being sold at this auction, as well as any and all other information made available relating to this auction and the property being sold at this auction. You acknowledge and represent that you have done so. Notwithstanding the foregoing, you also acknowledge and agree that the sale pursuant to this auction is being made on an “as-is, where-is” basis, with no representations or warranties of any kind, expressed or implied, by the Seller and/or the Auctioneer. You further acknowledge that any information contained in the Property Information Package or otherwise obtained directly or indirectly from the Auctioneer and/or the Seller is being presented to the best of the Auctioneer’s and the Seller’s actual knowledge without independent verification. Therefore, it is your sole and exclusive responsibility to inspect the property; review the documents relating to the property; assess the accuracy and completeness of the information contained in the Property Information Package and any such other documents; and independently verify and confirm any estimates, projections, or assumptions relating thereto, none of which may be considered to be guarantees. In connection therewith, you have the sole and exclusive responsibility to select and consult with any and all professional advisors of your choosing in determining whether to bid at this auction. You acknowledge that you have relied exclusively on your own investigation and determinations and the advice or your own professional advisors, and expressly represent that you have not relied upon any information provided by the Seller or the Auctioneer in any way, whether through the Property Information Package or other documents, through the Auctioneer’s website, or by any oral, written or electronic communications with the Auctioneer or the Seller, or otherwise.

All information contained here-in is believed to be accurate and up to date but is not guaranteed. Bidders are encouraged to perform their own due diligence and inspections prior to bidding. Property, structures and chattels are being sold as-is and where-is.

Joseph Mast, Auctioneer
Seth Andrews, Broker

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