Terms (Real Estate Property)

1.    The Real Estate sells strictly “AS IS, WITH ALL FAULTS”.  No warranties are given or implied.  No improvements/repairs will be made by the owners/sellers.   All information is believed to be correct but is not guaranteed.  Prospective purchasers are required to have all necessary/desired property inspections that constitute a condition of sale completed prior to the auction.  It is the purchaser’s responsibility to conduct his/her own due diligence, and must understand he/she is buying the property entirely upon his/her own examination and opinion.  The information contained herein has been obtained from sources deemed reliable and although every precaution has been taken to insure its accuracy neither the seller or Great State Auction Company nor any of their agents will be responsible for any errors or omissions contained herein.  All square footages are approximate.  Insurable Title will be delivered by NC General Warranty Deed.

2.    All potential bidders are to provide a bank letter of guarantee (for earnest money checks only) unless prior approval by Auction Company and/or owner has been obtained. The successful Bidder will be required to sign all necessary documents which may include: Auction Offer to Purchase Sales Contract, Terms and Conditions Memorandum, Bidder Certification Statement and an Agency Disclosure Statement.

 3.        A non-refundable deposit of Seven Thousand Five Hundred Dollars ($7,500.00) will be required at time of sale, to be held in Escrow by Mark Davis, Taylorsville, NC. Balance of PURCHASE PRICE is due upon transfer of title, on or before February 21th, 2014.  Your down payment is non-refundable unless the Seller cannot pass a clear insurable title.  Your non-refundable down payment must be in the form of CASH, CASHIER’S CHECK or an APPROVED PERSONAL CHECK (if you have sufficient identification such as a valid Drivers License and Social Security Card, etc.)  Absolutely NO Second Party Checks accepted.

4.    Buyer’s inability to secure a loan for the balance of the sales proceeds is not an excuse to void the sale/purchase.