Online Only Auction Real Estate Bidding Terms and Conditions:
Please Read the following terms carefully. By registering for this auction, you acknowledge that you have read and understood all terms and conditions herein and set forth within the supporting documentation described in the terms and that you have inspected the property or had the opportunity to do so.
If you do not agree to these terms, please DO NOT bid!
Bidder Registration and Verification:
For verification purposes, a credit card is required in order to register for this auction. If you want to bid in this online auction, you will first have to certify that you have read, understood, and agreed to these Terms and Conditions. Such certification will function as your legal and binding electronic signature. If you choose to make this certification, these Terms and Conditions will become binding both on you and on the Auctioneer, and all parties will be expected to abide by the Terms and Conditions if any issues arise in connection with this sale. Bowlin Bros. Auction Co. reserves the right to reject or accept bidder registrations at its sole discretion. Auctioneer and Seller assume no responsibility for items once declared sold. Buyer is urged to remove items the day immediately following the auction upon Auctioneer receiving payment in full or to self-insure for potential loss. The buyer is responsible for the loading, removal, shipping, and transportation of all purchased items.
As Is, Where Is:
All property is selling "As-Is, Where Is" with all faults. It is the buyer's responsibility to conduct any and all inspections and perform all acts of due diligence deemed necessary before bidding. Placing a bid will be considered as acceptance of the property in it's as-is condition. ALL ITEMS are being sold AS-IS-WHERE-IS with no warranty or guarantee-actual or implied. Bowlin Bros. Auction Co. reserves the right to resell items at its discretion due to non-performance of removal by the purchaser and the purchaser may be liable for any shortfalls, storage fees, costs of transactions. Auctioneer presents all information in brochures, catalogs, and other advertisements from sources believed to be accurate. These are representations of the Auctioneer. Prospective Buyers should inspect all items to their own satisfaction. Items are available for public inspection and the foregoing are merely guides. Bowlin Bros. Auction Co. will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. Bidder agrees that everything is sold as is and that they may not return any item they purchase.
Technology Disruptions:
Auctioneer will not be responsible for technology disruptions, errors, or failures (including disruptions to bidding or the failure to execute, recognize, or record online bids), whether caused by (i) loss of connectivity, breakdown, disruption, or failure of the Online Auction Platform, (ii) breakdown, disruption, or failure of a Bidder's internet connection, computer, or system, or (iii) otherwise. Auctioneer may, but will not be required to, continue, suspend, delay, extend, reschedule, or close the Auction because of disruptions caused by technology failures, even after bidding has commenced.
Failures by Online Auction Platform Provider and its Affiliates or Contractors:
Auctioneer may use an Online Auction Platform Provider to facilitate the Auction. Under no circumstances will Auctioneer be liable for any failure of the Online Auction Platform Provider to perform all or any of its obligations, or for the failure of any affiliates, employees, agents, representatives, or contractors of the Online Auction Platform Provider to perform their obligations.
TERMS & CONDITIONS OF REAL ESTATE AUCTION
PROPERTY INSPECTION: We recommend that you preview the property. The property is being sold “AS-IS, WHERE- IS and WITH ALL FAULTS”, without any warranties expressed, implied, or guarantees of any kind or accuracy to information. All information concerning the auction sale was derived from sources believed to be correct, but not guaranteed. Buyer shall rely on his/her own information, judgment and inspection of the property and records. Agent or Seller makes no warranty as to square footage, acreage or age. All announcements made at the auction take precedence over all other advertising and/or any type and/or kind of material. Title to be conveyed subject to all prior restrictions, easements, conditions, encumbrances, condemnation, right-of-ways, joint permanent easements, covenants or restrictions of record, zoning ordinances or laws of any governmental authority, status of mineral rights, status of oil and gas rights, any type of leases or assignments, taxes of any type, properties located in FEMA Flood Zones, and other matters recorded or unrecorded, known or unknown. Mobile Homes are sold WITHOUT TITLE.
TERMS: The successful high bidder on this property will be required to sign the Specific Performance Real Estate Contract immediately upon conclusion of the bidding and will make an Earnest Money deposit of Ten Percent (10%) of the total sales price. A Ten Percent (10%) Buyer’s Premium will be added to the high bid to establish the total sales price. The balance is to be paid in full at the closing. The contract will NOT be contingent upon financing. If property is residential and applicable, Lead-Based Paint Disclosure Form RF209 will be a part of the sales contract.
TAXES: Property taxes shall be prorated at closing.
CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the discretion of the Auctioneer. The Auctioneer's decision is final in the event of a dispute over any matter. The Auctioneer reserves the right to accept bids in any increments he deems to be in the best interest of his client, and reserves the right to waive any previously announced requirements. Bid rigging and bid suppression schemes are violations of the Sherman Antitrust Act and are deemed illegal and punishable as a federal felony.
CLOSING: Deed closing will take place within specified amount of time, from the day of the auction. Buyer will be advised as to the day and location of closing. Customary title closing cost will be split between the Buyer and Seller. Seller will pay for deed preparation. Title opinion, title insurance, transfer taxes and recording fees are a Buyer's expense.
EXCLUSIVE CLOSING AGENT:
Jefferson Title Inc.
706 Justice Drive, Dandridge, TN 37725
865-397-9428
POSSESSION: Possession of the property will be delivered upon closing.
AGENCY DISCLOSURE: BOWLIN BROS. AUCTION CO., LLC, a Tennessee Real Estate and Auction Company, and its auctioneer(s) and employee(s) are representing the Seller(s) as the Seller(s)’ Agent(s).
