Luther Bros Auction Co. LLC - Terms and Conditions (Real Property Auction) Welcome to our real estate auction. These Terms and Conditions govern your use of our auction services, including bidding on and purchasing items through our auction process and platform. By using our auction services, you agree to be bound by these Terms and Conditions. Registration to participate in our auction You must register and create an account on our online auction platform. During registration, you will be required to provide accurate and complete information. By registering for our auction, you represent and warrant that all information provided by you is accurate and complete. Agents are not allowed to bid online on behalf of any buyer. All bids must be placed by and under the registration of the actual buyer. Bidding All bids are final and binding. By placing a bid, you agree to pay the full amount of your bid, plus any applicable buyer's premium and other fees. We reserve the right to reject any bid at any time, for any reason. This is a Cash Only Auction. Contracts will be created and must be executed within 24 hours of auction ending. Closing will be handled by Midtown Property Law in Wilmington NC. Winning bidder must pay any closing attorney fees associated with closing and must close within 14 days of the close of the auction. 10% Buyers Premium will be added to the Hammer Price to create the final "contract price." Buyer's Premium is payable to Luther Bros Auction Co. LLC at the close of the property with attorney. 10% Earnest money is due at the close of auction payable to the closing attorney to be held in escrow. Deposit will be credited to the buyer at closing. If the buyer terminates the contract for any reason, the property will be relisted. No extensions will be granted. Buyer's Premium A buyer's premium of 10% will be added to the final bid price of all items sold, unless otherwise specified. Disputes In the event of any dispute between the buyer and seller, we will act as a neutral third party and will make a final determination on the dispute. Our decision will be final and binding. Liability We are not liable for any damage or injury incurred during the preview, bidding, or closing process. By participating in our auction, you assume all risks and liabilities associated with these processes. Modification We reserve the right to modify these Terms and Conditions at any time, without notice. Your continued use of our auction services after any modification constitutes your acceptance of the modified Terms and Conditions. Governing Law These Terms and Conditions shall be governed by and construed in accordance with the laws of North Carolina. Any legal action arising out of or in connection with these Terms and Conditions or our auction services shall be brought in the courts of New Hanover County (NC).