Terms & Conditions 
- Bidding: All bidding is open to the public without regard to race, color, sex, religion, familial status, handicap or national origin. Financing is available on specified properties to qualified buyers;
however, sale of these properties is not made subject to financing.
- Bidder ACCESS: To obtain a bidder number, you must visit with buyAtauction's Open House representative to obtain the correct forms. If the Buyer requires financing, Buyer must acquire approval from a Mortgage Lenders and or post Minimum deposit in Escrow Account. Only non successful buyer(s) will have Escrowed Deposits returned. Other conditions may be required dependant on property being sold.
- Earnest Money: The buyer shall be required to pay a deposit of Ten Thousand Dollars ($10,000.00). Deposit will be applied to the total purchase price and will be held by Title Company in a non-interest bearing escrow account.
a. As used in these conditions of sale, the term "the final bid" means the highest bid acknowledged by the Auctioneer, and the term "purchase price" means the sum of the final bid and the premium payable by the buyer under Paragraph 4, below, exclusive of any closing costs required by local, state or federal agencies.
b. The highest bidder acknowledged by the Auctioneer shall be the buyer. The Auctioneer may, in the event of any dispute between bidders, determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale; buyATauction record of final sale shall be conclusive.
- Buyer's Premium: A Three and seven five percent (3.75%)
Buyer's Premium shall be paid by the Buyer and be added to the final bid on each property.
Example:
Final bid on property is: $100.00
Add 3.75% Buyers Premium: $3.75
Total Purchase Amount: $103.75
Please bid accordingly. The Buyers Premium becomes part of the agreements final purchase price and is financeable.
- Closing: The successful buyer must sign all documents and contracts within 5 days of the Auction Close. buyAtauction will contact all successful bidders to make an appointment to finalize all documents. Time is of the essence, all closings must occur on or before settlement date, July 17, 2009 @ 5:00 PM EST.
- Bid Acceptance: Some properties will be sold absolute to the successful highest bidder with no minimum-opening bid. We believe that the Sellers are motivated and that all reasonable offers on properties that are subject to owner confirmation will be entertained; however, final bids on properties not advertised absolute will be subject to immediate owner confirmation. Highest Bids above "Suggested Opening Bid" will be accepted.
- Prorations: Real estate taxes, homeowner fees, as well as water and sewer charges, will be prorated as of the date of closing where applicable per language of the Posted Purchase Agreement for this event.
- Closing Costs: the buyer shall pay all normalclosing costs. Real estate transfers are subject to normal transfer taxes, which are to be paid at closing by the buyer.
- Auction Procedures: Posted Announcements made by the commencement of the Auction will take precedence over all printed material. Method, order of sale, and bidding increments shall be at the sole discretion of the Auctioneer. The Auctioneer will determine reopening of tie bids when applicable.
- Property Inspection: Successful buyers will do a pre-settlement inspection prior to closing. BuyATauction its agents and subagents, and all the Sellers assume no liability for errors or comissions in this or any other property listing or advertising or promotional/publicity statements and materials. Although information has been obtained from resources deemed reliable, buyATauction makes no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and materials.
- Notice for Real Estate Brokers: A TWO and One Half percent (2.5%) fee of the bid price will be paid to an active licensed broker whose prospect / buyer pays for and closes on the property. To qualify for the fee, the licensed broker must: a) have an active license; b) register the prospect on the Broker Registration Form with both prospect and broker/sales person signatures. Broker Registration Forms are available by calling buyATauction Inc.; (302) 628-5015 on site or on line and preview the property with the prospect. You may mail or send via facsimile Broker Registration Forms, must be received no later than midnight on Friday May 8, 2009 to buyATauction Inc. 1310 Bridgeville Hwy, Seaford, DE 19973, Fax # (302) 629-5077. No commission on any property will be paid to Registered Brokers acting as a principal in the purchase of a property.
- Title: Title to the offered property shall pass to the buyer at formal settlement, which is to occur within accordance of time table as published in the Bidder's Information Packet. The buyer will provide any financing involved. Sale of the property is not contingent upon the buyer obtaining financing.
Preferred Escrow & Settlement Company:
Pamela Roberts, Esq.
ManagerNorth American Title Company
537 Baltimore-Annapolis Blvd., Suite A
Severna Park, MD 21146
Main: 410-544-3000 | Fax: 410-544-6067
proberts@nat.com | http://www.nat.com
- Property Sold Subject to Owner Confirmation: The Auctioneer has the right to reject any bid or raise, which, in his opinion, is not commensurate with the value of the property being offered. Our on line Auctioneer will advance the on line bidding at their absolute discretion.
- Conditions of Default: If the buyer does not comply with any conditions contained herein, buyAtauction and Seller may, in addition to asserting all remedies available by Law, including the right to hold defaulting buyer liable for the purchase price, either a) cancel the sale, retaining as liquidated damages all earnest deposit monies made by such buyer, b) resell the property without reserve at public auction or privately on seven days' notice to such buyer, or c) take such other action as it deems necessary or appropriate. If buyAtauction re sells the property, the original defaulting buyer shall be liable for the payment of any deficiency in the purchase price and all costs and expenses, the expenses of both sales, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder.
- State Laws: The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the Auction shall be governed and interpreted by the laws of the state in which the Auction is held. By bidding at an Auction, whether present in person or by agent, by written bid, on line bid, telephone or other means, the buyer shall be deemed to have consented to the jurisdiction of the course of such state and the federal courts sitting in such state.
- BuyATauction and SELLER RESERVE THE RIGHT TO ADD, SUBSTITUTE, and CANCEL, POSTPONE OR WITHDRAW ANY OR ALL PROPERTY BEFORE OR DURING THE AUCTION. ALL e-Mail ANNOUNCEMENTS MADE FROM THE AUCTION BLOCK WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.
All properties are subject to prior sale.
The high bidder agrees to abide by the terms and conditions stated herein.
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