Real Estate Auction Terms and Conditions
Property: 533 Swan Drive, Fortville, IN 46040
1. Registration
• All bidders must register prior to the auction.
• Valid government-issued ID required for registration.
• Registration deadline: Saturday October 19 10:00
2. Deposit
• A deposit of $25,000 is required upon acceptance of your offer at auction.
• Deposit must be in the form of a wire transfer made payable to [Insert escrow company name].
• This Deposit is NON-Refundable.
3. Buyer's Premium
• A 10% buyer's premium will be added to the winning bid to determine the final purchase price.
4. Bidding
• The starting bid will be taken from the online auction website.
• Minimum bid increments will be $1,000.
• The seller reserves the right to accept or reject the highest bid.
5. Winning Bid
• The highest bidder acknowledged by the auctioneer will be the purchaser.
• In the event of any dispute, the auctioneer's decision is final.
6. Closing
• Closing must occur within 30 days of the auction date.
• The balance of the purchase price is due at closing.
• Failure to close may result in forfeiture of deposit and legal action.
7. Property Condition
• The property is sold "as-is, where-is" with no warranties expressed or implied.
• Bidders are encouraged to inspect the property prior to bidding.
• Property inspections can be scheduled by contacting [Insert contact information].
8. Financing
• This is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind.
• Buyers are responsible for securing their own financing if needed.
9. Title
• Property is sold free and clear of all liens and encumbrances.
• Seller will provide a clear title and deed at closing.
10. Possession
• Possession will be given at closing.
11. Real Estate Taxes
• Seller will pay real estate taxes due and payable November 2024, Buyer will be responsible for any and all real estate taxes due and payable thereafter
• 12. Agency Disclosure
• Burgess Auctions is acting as agent for the seller only.
13. Auction Conduct
• The auctioneer reserves the right to reject any and all bids.
• Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer.
14. Additional Terms and Conditions
• By participating in this auction, all bidders agree to abide by these terms and conditions.
