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Terms (Real Estate)
A MEMORANDUM OF TERMS AND CONDITIONS
ABSOLUTE AUCTION
ESTATE OF THELMA AND COY SHEPHARD
1394 Arbor Grove Church Rd Millers Creek, NC 28651
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 Five Thousand Dollars ($5,000.00) will be required at time
of sale, to be held in Escrow by Joe Brewer Attorney East Main Street,
Wilkesboro, NC. Balance of PURCHASE PRICE is due upon transfer of
title, on or before October 26th, 2012. 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. Broker is the agent of the Seller of the Property
offered for sale by this auction. Broker and Seller have agreed that
this sale is to be conducted by including a buyer’s premium of Five
Percent (5 %) upon the final high bid price as determined by the Broker
(i.e. “Buyer’s Premium”). The actual contract sale price shall be the
sum of the confirmed high bid plus the Buyer’s Premium (5%). Bidder
acknowledges and agrees that inclusion and/or payment of the Buyer’s
Premium shall not make Broker the agent of the Bidder/Buyer and that
Broker continues as the agent of Seller in the sale of the property.
5. Buyer’s inability to
secure a loan for the balance of the sales proceeds is not an excuse to
void the sale/purchase.
“REAL ESTATE SELLS WITH RESERVE”
ANY ANNOUNCEMENTS MADE DAY OF SALE SUPERSEDES ANY PRINTED MATERIAL.
***5% BUYERS PREMIUM WILL BE CHARGED ON REAL ESTATE.***
REAL ESTATE BROKERED BY (As Agent of the Seller) W. Randall Woodruff, d/b/a
GREAT STATE AUCTION COMPANY, 104 E. MAIN ST, WILKESBORO, NC 28697
NC Real Estate Brokers License #33312, NC Auctioneers License #6868
Buyer’s agent fees are the sole responsibility of the buyer.
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