AUCTION INFORMATION, TERMS & CONDITIONS
AGENT FOR THE SELLER: Interstate
AuctionŽ Company (Auctioneer) is acting as agent for the Seller.
AUCTION SITES: The auction will be conducted on site at each property.
REGISTRATION: All prospective buyers wishing to bid on a property must register and receive a bidder card on auction day.
REAL ESTATE TERMS: 10% down sale day with balance at closing in 30 days.
BUYER'S PREMIUM: 10% Buyer's Premium added to the high bid price on each property to arrive at the contract price.
TERMS & CONDITIONS OF THE AUCTION
BROKER PARTICIPATION: See Property Nos. 201 and 202 for broker participation fees on those properties. For all other properties a 2% referral fee, based on high bid, will be paid to the Georgia licensed real estate broker/agent whose prospect pays and settles for a property. The real estate broker/agent must register the prospect by letter, which must be signed by both the broker/agent and prospective purchaser indicating the property the prospective purchaser is interested in on company stationery, with Interstate AuctionŽ Company at 6690 Roswell Road, Suite 550, Atlanta, GA 30328. The registration letter must be received at least 24 hours prior to the auction and before any inspection by the prospect. The broker/agent must attend the auction with the prospect. No broker/agent will be recognized on a prospect who has previously contacted or been contacted by the owners or their agents. Interstate AuctionŽ Company will pay referral fees upon closing and receipt of commissions. No referral fee will be paid if the broker/agent or member of his immediate family is participating in the purchase of the property or giving a rebate of its commission. There will be NO EXCEPTIONS to this procedure and no oral registrations will be accepted.
1. There are no minimum starting bids required for any property; however, Sellers, reserve the right to accept or reject all offers on properties not advertised as "ABSOLUTE". The auction shall be recorded, and if any dispute arises following the auction, the auctioneer's recorded records will be final in all respects.
2. Bidders are invited, urged, and cautioned to inspect the properties as to any structural, hazardous, asbestos, or environmental conditions relating thereto prior to submitting a bid. Bidders are advised that houses built prior to 1978 may contain lead-based paint. A 10 day inspection period ends on auction day for hazardous material and lead-based paint. Interstate AuctionŽ Company will assist bidders in obtaining any authorizations, which may be required in order to carry out any such inspections. Bidders shall be deemed to have relied solely on their own judgement in assessing the overall condition of all or any portion of a property. Interstate AuctionŽ Company and their representatives, Sellers and their representatives, are offering these properties "AS IS, WHERE IS" and with all faults, without warranty expressed or implied, of any kind or character including without limitation, any warranty of habitability or fitness for a particular purpose. Sellers and Interstate AuctionŽ and their agents shall not be liable for any damages, whether actual or direct or incidental, including without limitation, damages for loss of use or loss of income occurring by reason of the condition of such property.
3. Taxes, sizes, and square footages set forth for the properties are approximation only, based on best information available, but actual taxes, sizes and square footages may be different.
4. The Auctioneer and Sellers reserve the right to refuse admittance to or to expel anyone from the auction premises for interference with auction activities.
5. The Auctioneer and Sellers have the right to withdraw properties, postpone, or cancel the auction in whole or part, at their sole discretion without notice and to modify or add any terms and conditions either prior to or at the auction.
6. The Auctioneer and Sellers do not warrant building permits to be obtainable for lots, nor do Sellers and Auctioneer have any knowledge of underground contents of sites.
7. All leases currently in effect on any of the properties must be honored. Taxes will be prorated at closing.
8. Sellers do not have covenants and restrictions to properties. It is prospective purchaser's responsibility to obtain covenants and restrictions pertaining to property and zoning requirement by the city and county prior to bidding. It is the prospective purchaser's responsibility to find out about rezoning prior to auction.
9. Persons buying in the name of Trusts, Partnerships, Corporations, or with a Power of Attorney must have the authorizing documents examined prior to the auction by a representative designated by Seller.
10. The Purchaser's attorney will conduct closings. The Purchaser will pay for all costs legally chargeable to the Purchaser.
11. These properties are offered for sale to qualified purchasers without regard to prospective purchasers' race, color, religion, sex, marital status, or national origin.
All information was obtained from sources deemed reliable, Interstate AuctionŽ Company, sale managers, and all their agents, Sellers, and all their agents will not be responsible for any errors or omissions herein. Oral representations cannot be relied upon as correct. However, announcements made sale day take precedence over written matter. Conduct of the auction and increments of the sale shall be at the sole discretion of the Auctioneer. Offer void where prohibited by law.
Interstate AuctionŽ Company
Brokers & Auctioneers
6690 Roswell Road, Suite 550
Atlanta, GA 30328 GAL 1966
404-303-4720 ( 800-732-3325