TERMS AND CONDITIONS
1. REGISTRATION ONLINE: THIS IS AN ON-LINE INTERNET ONLY AUCTION. ALL BIDDING ACTIVITY WILL TAKE PLACE ONLINE. ALL BIDDERS MUST REGISTER TO BID THROUGH THE ONLINE PLATFORM.
2. AUCTIONEER CONTACT INFORMATION: Kyle Allen. d/b/a Allen Auction and Real Estate Service, LLC, licensed Missouri auctioneer, may be reached at 636-338-4805.
3. TERMS AND CONDITIONS: BY PLACING A BID, BIDDER CERTIFIES THAT THEY HAVE READ THE TERMS AND CONDITIONS OF THIS AUCTION. IF A BIDDER HAS NOT READ AND REVIEWED THE TERMS FOR THE SALE OF THE REAL PROPERTY AT THIS ONLINE AUCTION, THEN PLEASE DO NOT BID.
4. OPEN HOUSE TIMES/INSPECTION OF REAL PROPERTY: There will be one Open House where prospective bidders are encouraged to come and view the real property. The Open House date is Thursday, September 26, 2024 from 4:00pm to 6:00pm. We encourage all prospective bidders to attend the Open House before bidding. By placing a bid, a bidder signifies that they have examined the real property and conducted their own personal onsite inspection of the real property to their satisfaction, or that they have chosen not to personally view and examine the real property.
5. AUCTION END TIME: The online auction is scheduled to end at 1:00 p.m. CST on Tuesday, October 10, 2024. Any bid placed within 3 minutes of 1:00 p.m. CST on October 10, 2024 will automatically extend the auction another 3 minutes. Similarly, any bid placed after 1:00 p.m. CST on Tuesday, October 10, 2024 while the auction is still open will automatically extend the auction another 3 minutes. For example, if there is a bid at12:59 p.m. CST on October 10, 2024, then the auction will automatically extend to 1:02 p.m. If there is another bid prior to 1:02 p.m., then the auction will automatically extend another 3 minutes, and so on. The 3-minute automatic extension feature remains active until there are no further bids within the last 3 minutes. There is a timer on the Hibid Auction Platform that will be used for this online auction that will notify you when the auction ends and/or if said auction has automatically extended another 3 minutes.
6. BUYER'S PREMIUM: The buyer's premium is 10% on the real property. Thus, for example, if the real property sells for $100,000, then 10% will be added onto the final bid so that the winning bidder will pay $110,000.
7.. NO DISCLOSURE STATEMENT: The real property in this auction SELLS AS-IS, WHERE IS, with all faults. There are no guarantees or warranties written or implied as to the condition of the real property or the condition of any improvements on the real property. There is no written disclosure statement. If you are uncertain as to the condition of the real property, then please bid accordingly. There is NO Inspection Report for the property.
8. CONTRACT: The successful bidder shall come to the Office of Allen Auction & Real Estate Service, LLC by 6:00 p.m. CST on October 10, 2024 to execute a contract between the buyer and the Lincoln County Fair Board.
9. PAYMENT: The successful bidder at this real estate auction must pay the full amount of the winning bid plus buyer's premium of 10% at the time of signing the contract. Failure to do so will result in forfeiture to the 2nd highest bidder. Payment for the real property must be made in USD (US Dollars) and may be by check, cash, or credit card (4% fee).
10. FAILURE OF SUCCESSFUL BIDDER TO TIMELY EXECUTE CONTRACT AND THE FULL AMOUNT OF THE SALE. Any successful bidder at the online auction who does not timely execute the written contract and pay the full amount of the sale by 6:00 p.m. CST on October 10, 2024 shall be in default and any and all legal remedies may be asserted and/or prosecuted by Allen Auction & Real Estate Service, LLC against the said successful bidder. Further, Allen Auction & Real Estate Service, LLC reserves the right to charge the successful bidder who is in default $1,000.00 on his/her credit card that was provided when said bidder registered as partial damages. Additionally, Allen Auction & Real Estate Service, LLC. reserves the right to sell the real property to the back up bidder and/or any other person or entity other than the successful bidder should the successful bidder at the online auction not timely execute the written contract and pay full amount by 6:00 p.m. CST on October 10, 2024.
11. POSSESSION: Buyer will be given possession of the real property can be taken by the purchaser
when payment is made in full and contract is signed by both parties. According to contract between the Lincoln County Fair Association and the buyer, the property must be removed and in full possession of the buyer by December 1st, 2024. *details in contract*. Failure to do so could result in forfeiture of the property or buyer could incur cost of services used to finish the deconstruction and delivery to buyer's property.
12. DESCRIPTION OF REAL PROPERTY: The description for the real property are believed to be accurate, but the description is not warranted or guaranteed. Bidder inspection is encouraged.
13. AGE REQUIREMENTS: A person must be 18 years or older to bid.
14. AUCTION COMPANY RESERVATION OF RIGHTS: Allen Auction & Real Estate Service, LLC hereby reserves the right to reject any bid for this auction at the auction company's sole discretion. Any fraud suspected or detected will preclude a bidder from bidding at this auction and/or from being the successful bidder at this auction for the real property.
15. FORUM FOR DISPUTES: Any disputes as to the auction, the real property in the auction, the description of the real property and/or the condition of the real property being offered for sale, the sale of the real property, and/or any disputes in any way related to this online auction shall be governed by Missouri law, and the forum for such disputes shall be the Lincoln County Circuit Court and/or the Lincoln County Associate Circuit Court in Troy, Missouri. By participating in this auction, any bidder and/or prospective buyer is agreeing to this forum and venue of Lincoln County, Missouri. Arbitration shall not be used to address any disputes that are in any way related to this online auction. By participating in this auction, you are agreeing that arbitration shall not be used to address any disputes that are in any way related to this auction.
16. RESERVATION OF RIGHTS: Allen Auction & Real Estate Service, LLC reserves the right to cancel, suspend, extend or reschedule an auction event or to make changes to the auction closing time or scheduled Open Houses.
17. INTERNET, SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, computers, software or any other online auction-related issues and/or technical issues and/or system failures, Allen Auction & Real Estate Service, LLC reserves the right to extend the bidding, continue the bidding, reopen the bidding and/or close the bidding. Allen Auction & Real Estate Service, LLC DOES NOT ASSUME LIABILITY FOR, AND SHALL NOT BE HELD RESPONSIBLE FOR, ANY INTERNET, COMPUTER AND/OR TECHNOLOGICAL SYSTEM FAILURES, ANY MISSED BID, AND/OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.
18. DISCLAIMER: All information contained herein or in any way published or given about the real property comes from sources that are believed to be correct, but there is no guarantee by the seller, Allen Auction & Real Estate Service, LLC., or the auctioneers as to the correctness of the information. Please make sure you have conducted your own personal inspection of the real property and have your financing ensured prior to bidding. Any bidder's failure to have personally inspected the condition of the real property and/or to have their financing ensured in advance shall not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or earnest money deposit.
19.MAXIMUM BID: This auction features maximum bidding. Only the bidder can see their maximum bid. When you place your maximum bid, the current bid price does not automatically go to that bid. Someone else has to bid to increase the current price and the software will automatically bid up to your maximum bid in the increments specified. If someone has already entered a maximum bid on the item you are bidding on, the system will automatically bid for you until you are the current high bidder or until you reach your maximum bid. If you have reached your maximum bid and are still not the current high bidder, the system will give you the opportunity to enter another maximum bid. You may request outbid notices when registering for your online bidding account. You can choose to have them sent to your email. If you are not able to be around a computer/mobile device during the closing of the auction or receive and/or read your notices, we recommend you enter your maximum bid when bidding. Your maximum bid would be considered the maximum amount you are willing to pay for your item. Please remember, you can always raise your max bid, but you cannot lower it.
PAYMENT INFORMATION
Currency USD
Buyer Premium 10%
Payment Terms
BUYER'S PREMIUM: The buyer's premium is 10% on the real property. Thus, for example, if the real property sells for $100,000, then 10% will be added onto the final bid so that the winning bidder will pay $110,000. EARNEST MONEY DOWN PAYMENT: The successful bidder at this real estate auction must pay the full amount of the winning bid at the time of signing the real estate contract by 6:00 p.m. CST on October 10, 2024. Please make sure you have conducted your own personal inspection of the real property and have your financing ensured prior to bidding
