TERMS & CONDITIONS FOR BIDDING
1. You will need to register to bid at this event; you the bidder agree to be bound by
These TERMS & CONDITIONS, all auction announcements made the day of the event, and finally the Contract for Purchase and sale.
2. All properties are being sold in an AS IS WHERE IS CONDITION without any warranties of any kind, expressed or implied, by the seller or their representatives or by the BROKERAGES or AUCTIONEERS. We trust all bidders have done there due diligence, and have accepted the properties without any expressed or implied warranties or representations from Seller or Brokerages, including, but not limited to, the following: the condition of the Real Estate; the Real Estate’s suitability for any or all activities or uses; the Real Estate’s compliance with any laws, rules, ordinances, or codes of any applicable government authority; the Real Estate’s compliance with environmental protection, pollution, or land use laws, regulations, orders, or requirements; the disposal, existence in, on, or under the Real Estate of any hazardous materials or substances; or any other matter concerning the Real Estate. It is the responsibility upon the Bidder to exercise Bidder’s own due diligence, investigation, and evaluation of suitability of use for the Real Estate prior to bidding. It is Bidder’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air condition mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns; or any other desired inspection. Bidder acknowledges that Bidder has been provided an opportunity to inspect the Real Estate prior to the auction and that Bidder has either performed all desired inspections or accepts the risk of not having done so. Any information provided by Seller or Brokerages, and Auctioneers that are participating in this event has been obtained from a variety of sources. Seller and Brokerages, and Auctioneers have not made any independent investigation or verification of the information and make no representation as to its accuracy or completeness. In bidding on the Real Estate, Bidder is relying solely on Bidder’s own investigation of he Real Estate and not on any information provided or to be provided by Seller or Brokerages, and Auctioneers.
3. Notwithstanding anything herein to the contrary, to extent any warranties or representations may be found to exist, the warranties or representations are between Seller and Bidder. Brokerages that are participating in this event may not be held responsible for the correctness of any such representations or warranties or for accuracy of the description.
4. There is a 10% Buyer’s premium added to the final bid. The buyer’s premium, together with the final bid amount, will constitute the total purchase price of the Real Estate.
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5. In the event that Bidder is successful bidder, Bidder must immediately execute the Contract for Purchase and Sale and tender a nonrefundable earnest money deposit in the form of personal check with valid State ID, or cashiers check. The balance of the purchase price will be due in immediately available, certified funds at closing on the specified closing
date. The Real Estate must close within 30 days of the date of the auction, or as otherwise agreed to by the Seller and Bidder(Buyer).
6. Auction announcements take precedence over anything previously stated or printed, including these Terms and Conditions. Brokerages and Auctioneers that are participating in this event may add or alter Terms and Conditions.
7. A bid placed by a Bidder will be deemed conclusive proof that he/she has read, understands, and agrees to be bound by these Terms and Conditions.
8. The Terms and Conditions, especially as they relate to the qualifications of the potential bidders, are designed for the protection and benefit of the Seller and do not create any additional rights or causes of action for the Bidder.
9. The Only condition under which the earnest money will be refunded is if the Seller is unable to deliver clear title. If the Bidder(Buyer) refuses to proceed for ANY other reason, the earnest money will be forfeited. The Seller also reserves the right, at its sole election, and in lieu of acceptance of forfeiture of said earnest money deposit as liquidated damages, to declare the property sold, to require Bidder(Buyer) to perform all terms of the Contract for Purchase and Sale, and to exercise all other remedies to it at law or equity.
10. In the event Bidder is the successful buyer at the auction, Bidder’s bid constitutes an irrevocable offer to purchase the Real Estate and Bidder will be bound by said offer. In the event Bidder is the successful buyer but fails to refuses to execute the Contract for Purchase and Sale. Bidder acknowledges that at the sole discretion of Seller, these signed Terms and Conditions together with the Contract for Purchase and Sale executed by the Seller are to be construed together for the purposes of satisfying the statute of frauds and will collectively constitute an enforceable agreement between Bidder/Buyer and Seller for the sale and purchase of the Real Estate.
11. It is the responsibility of the Bidder to make sure that, Auctioneer is aware of Bidder’s attempt to place a bid. Brokerages and Auctioneers disclaim any liability for damages resulting from bids not spotted, executed, or acknowledged. Brokerages and Auctioneers are not responsible for errors in bidding and Bidder releases and waives any claims against Brokerages and Auctioneers for bidding errors. Once a bid has bee acknowledged by the auctioneer, the bid cannot be retracted.
12. Bidder authorizes US AUCTION TEAM to film, photograph, or otherwise record the voice or image of Bidder and any guest or minor accompanying Bidder at this event and to use the films, photographs, recording, or other information about the event, including the sales price of the Real Estate, for promotional or other commercial purposes.
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13. Broker/agent participation is welcome. Broker/agent must pre-register their buyer 24 hours before the event by completing the Broker Registration form. This form can be found on the MLS or you can contact anyone of the Brokerages who are part of this event.
14. Each Brokerage is acting solely as agent for Seller and not as an agent for Bidder. Each Brokerage is not a party to any Contract for Purchase and Sale between Seller and Bidder. In no event will Brokerages and Auctioneers be liable to Bidder for any damages, including incidental or consequential damages, arising out of or related to this event, the for Contract Purchase and Sale, or Seller’s failure to execute or abide by the Contract for Purchase and Sale.
15. Neither Seller nor Multi-Broker Multi Property, Brokerages, and Auctioneers, including its employees and agents, will be liable for any damages or injury to any property or personal at or upon the premises. Any person entering on the premises assumes any and all risks whatsoever for their safety and for any minors or guests accompanying them. Seller and Brokerages expressly disclaim any “invitee” relationship and are not responsible for any defects or dangerous conditions on the premises, whether obvious or hidden. Seller and Brokerages are not responsible for any lost, stolen, or damaged property.
16. Brokerages and Auctioneers may in its sole discretion, reject, disqualify or refuse any bid believed to be fraudulent, illegitimate, not in good faith, made by someone who is not competent, or made in violation of these Terms and Conditions or applicable law.
17. Real Estate is offered for sale to all persons without regard to race, color, religion, sex handicap, familial status, or national origin.
18. These Terms and Conditions are binding on Bidder and on Bidder’s partners, representatives, employees, successors, executors, administrators, and assigns.
19. In the event that any provision contained in these Terms and Conditions is determined to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the validity, legality, and enforceability of the remaining provisions of the Terms and Conditions will not be in any way impaired.
20. These Terms and Conditions are to be governed by and construed in accordance with the laws of Kansas but without regard to Kansas’s rules governing conflict of laws. Exclusive venue for all disputes lies in either the Sedgwick County Kansas District Court or the United Sates District Court in Wichita, Kansas. Bidder submits to and accepts the jurisdiction of such courts.
21. Seller or its representatives are not responsible for shipping costs or damages that may occur from the time of sale to shipping. The seller or auction company will not provide any assistance with lifting, taking items apart, or shipping of items. It is 100% the buyer responsibility to remove items after it has been fully paid for.
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22. All credit cards will validated for $1.00 at the time of registration. Only online bidders will be charged for purchases made at the sale. We charge a 3% convenience fee on all credit card charges. Live bidder will have the option to pay with cash or check, and not be charged a convenience fee. REAL ESTATE EARNEST MONEY IS IN THE FORM OF A CASHIERS CHECK OR PERSONAL CHECK ONLY, WE WILL NOT ACCEPT OR CHARGE CREDIT CARDS
THE BIDDER UNDERSTANDS THAT MBMP AUCTION SERVICE IS NOT A BROKERAGE, BUT ONLY AUCTION SERVICES PROVIDER. BIDDER AGREES TO THESE TERMS.