Real Estate Terms:
GENERAL ONLINE REAL ESTATE AUCTION TERMS AND CONDITIONS
1. Each property is offered under the specific terms & conditions provided in the printed and electronic versions of the auction brochure. Please read and review the brochure thoroughly prior to bidding on any property. The purchase contract includes the brochure language and adopts the Terms and Conditions. If you have not read and reviewed the auction brochure or do not completely accept the terms and conditions – Do Not Bid.
2. Terms: non refundable earnest money in the form of a certified check, cash or wire transfer within 20 hours of the close of auction, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. Closing will be specified in the auction brochure. There will be a buyer’s premium added to the bid price to arrive at the final purchase price. Example: Bid Price $100,000 plus an 3% buyer’s premium equals a contract purchase price of $103,000. Buyer’s premium will vary. Actual premium will be stated in the auction brochure. All online buyers are a cash sale unless otherwise specified and are not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the auction brochure.
3. Auction End Times: Last Chance Auction Company and T.Brick Auction-SD #10664 ( Live and Online ) Auctions will begin at 6:00pm(CST) and will end when the last bid is accepted from the Auctioneer.
4. Sold to Highest Bidder Unless Seller’s Reserve: All properties in the auction will be sold to the highest bidder unless the seller has a minimum reserve price. In this case the bid price is subject to the seller’s confirmation or the reserve may be disclosed in the auction brochure. In some cases, the auctioneer may bid on behalf of the seller to protect the reserve. Disputes over the winning bid price or any other problem will be settled according to records kept by Last Chance Auction Company and T.Brick Auction-SD #10664.
5. Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Last Chance Auction Company and T. Brick Auctions-SD #10664. will make arrangements to immediately meet with the successful bidder. Bidder(s) will also sign an Agency disclosure and appropriate addendums. Successful bidders not executing and returning contracts with earnest money deposit within 20hours will be considered in default. Any and all inspections that a buyer may want must be done at buyer’s expense prior to auction.
6. Agency: representatives of T.Brink Auctions-SD #10664 are licensed real estate agent in South Dakota represent the seller in these real estate transactions.
7. Bidder Verification: All bidders must provide their full name, address and daytime/evening phone number. Last Chance Auction Company reserves the right to deny registration. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Last Chance Auction Company and T.Brick Auctions-SD #10664 will reject the registration, and bidding activity will be terminated. The Seller and Selling Agents and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
8. Property Offerings and Removals: Last Chance Auction Company and T.Brick Auctions -SD#10664, according to its discretion, may offer property by the piece, acre, unit or by the lot. The seller, with the consent of Last Chance Auction Company and T.Brick Auctions-SD #10664, has the right to remove a property from the auction before bidding is completed.
9. Auction Participation and Compliance with Terms: By participating in an auction, bidders represent, irrefutably warrant and covenant that:
-They shall not misrepresent their ability to close the transaction pursuant to the terms and conditions of the auction.
-They have the capacity to close the transaction and that any bid they make on the item constitutes an irrevocable offer to buy the item for the full amount of the bid plus buyer’s premium and applicable taxes.
-They have the legal authority to enter into an agreement to purchase the item.
-They shall forfeit all deposits or otherwise pay as liquidation damages all monies paid if payment is not made in full by the time specified.
10. Auction Participation and Bidding Errors: Immediate notification is required if a mistake is made in bidding. Bidders may still be held responsible for the bid.
11. NEW DATA, CORRECTIONS, AND CHANGES: Please log in prior to scheduled bid closing time to inspect any changes, corrections, or additions to the property information.
12. Disclaimer & Absence of Warranties: All information contained in the auction brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller, Sellers Agent or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Sellers Agent or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of the Auction Company are final. By bidding on the property at auction, buyer agrees to all terms and conditions set forth here and in the auction brochure as well as those set at beginning of the auction.
13. Each buyer is responsible to conduct their own due diligence on the property before bidding.
14. Acknowledgment of Dangerous Auction Site: Potential bidders when inspecting and high bidders/purchasers or their agents acknowledge that an auction site is a potentially dangerous place. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. High bidders will so advise their agents and employees. This acknowledged risk extends into all activities involved in the inspection of the subject property and preparation of the property for closing, including disconnection of utilities. Persons attending the auction site during preview, sale or inspection assume all risks of injury damage or loss of property and specifically release Last Chance Auction Company, the seller and their agents from liability.
15. Malfunction, Shutdown, and Loss of Service: The results of the auction may be rendered void if malfunction, shutdown, or temporary loss of service occurs. In such an event, Last Chance Auction Company and T.Brick Auctions-SD #10664 reserves the right to remedy the situation in whichever way best represents the seller, including the cancellation of existing bids. Last Chance Auction Company and T.Brick Auctions-SD #10664 shall not be held liable in any way for any malfunctions, shutdowns, or loss of service. Bidder acknowledges and understands that this service may or may not function correctly at the close of the auction. Under no circumstances shall Bidder have any kind of claim against Last Chance Auction Company & T.Brick Auctions-SD #10664 or anyone else if the internet service fails to work correctly during the close of the auction. Last Chance Auction Company T.Brick Auctions-SD #10664 will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the maximum bidding feature and leave their maximum bid 24 hours before the close of the auction.
16. Erroneous Reports: It is very possible during an auction that an Internet bidder may be indicated as a high bidder when in fact the winner attended the auction in person or vice versa. The auction company makes final determination and holds the official records of winning bidders and final hammer prices. The listings on this website regarding final hammer prices and winning bidders are unofficial.
17. Indemnification and Acceptance of Auction Terms by Bidders: Purchaser and Bidders agree to indemnify and hold harmless both the seller, their agent and Last Chance Auction Company & T.Brick Auctions-SD #10664 from and against all claims and liabilities resulting from any online auction, including but not limited to: proximate or consequential damages, failure to comply with local, state, or federal laws, and cost of legal expenses arising there from. No person shall have any claim against Last Chance Auction Company & T.Brick Auctions-SD #10664, their respective agents or employees for any injuries sustained or damages to or loss of property that may occur on site. These Terms and Conditions, and all questions with respect to the interpretation of these conditions, shall be governed by and construed in accordance with the internal laws of the State of South Dakota, without regard to conflict of laws provisions. All bidders expressly consent to personal and exclusive jurisdiction in the courts of the State of South Dakota in the County of Minnehaha. In bidding, you consent to agreeing with all the Terms and Conditions stated above and any auction specific terms posted on each auction brochure and/or terms emailed to you and or terms posted on www.lastchancesd.com.
18. We gather aggregate information from this web site which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence.
Sale of all Personal Property:
All property is sold 'as is', and neither the auctioneer nor any consignor makes any warranties or representation of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, and whether or not it has been repaired or restored. You are encouraged to preview the items in person or request additional photos prior to bidding.
ALL SALES ARE FINAL, NO RETURNS UNDER ANY CIRCUMSTANCES
Prospective bidders should inspect the property before bidding to determine its condition, size,
The highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or re-offer the lot for sale. If any dispute arises after the sale, our sale record is conclusive. Although in our discretion we will execute absentee bids or online bids as a convenience to clients who are not present at auctions, we are not or description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice responsible for any errors or omissions in connection therewith.
All purchases are subject to 4.5% South Dakota state sales tax unless the purchaser possesses a South Dakota sales tax exemption number and has an executed exemption form on file. Customer must submit the Exemption Tax Form to Auction prior start of auction. Exemption numbers from other states are accepted if presented with a business card or letterhead. PAYMENT:
Online Personal Property Purchases: Payment to be made on Auction Day via credit card, debit card, (3.5% fee added), REMOVAL OF PURCHASES online: Last Chance Auction Company will assist the buyer in arranging shipping through our preferred shipper. Shipping is subject to any restrictions of the purchaser's country.
Bidders are responsible for confirming their import laws and any state restrictions. These laws or restrictions do not release a purchaser from their responsibility for payment an invoice.
IMPORTANT NOTE: Items purchased online will ship out within 5-7 days. Items purchased onsite must be picked up on auction day, after which storage fees in the amount of $5 per item per day will apply.
FAILURE TO REMOVE PURCHASES: Failure to remove purchases within 10 business days following the auction will result in transportation of items to our warehouse in Sioux Falls, SD at a standard $50 per item moving fee AND a storage fee of $5 per item per day until pick up by the buyer (24 hour notice required for pick up).
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