Standard Terms and Conditions

(See Terms and Conditions for each individual property)

PRE-SALE INSPECTION OF THE PROPERTY / ASSETS

The property is being sold on an "As Is, Where Is" with no financing basis, with all faults, and seller makes no representations or warranties except as described in the purchase and sales contract.

A thorough inspection by you and your experts prior to auction is encouraged.

All property and assets are available for viewing by appointment during the inspection period, usually 7-14 days prior to auction day.

The property information package we provide will list the exact inspection dates or contact our office for additional information.

Seller has the right to postpone or cancel the auction in whole or in part at its sole discretion and to add or modify the terms and conditions.

All auctions are subject to court or seller approval within seven days. Those inspecting the property assume all risks associated with any inspections.

CASHIER’S CHECK REQUIRED TO BID

All bidders will be required to present a cashier’s check of 10% of the winning high bid made out to Chapman Auction Group LLC as escrow agent. Only the successful winning bidder will be required to tender their check at the conclusion of the bidding.

REGISTRATION

We recommend that you arrive at the auction two hours prior to the auction to register, present your Driver’s License, certified check, or cashier’s check, and have any last minute questions answered before you receive your bidder’s number.

Registration at the auction finalizes each bidder agreement to the terms and conditions of the sale as stated in the contract. Registering and receiving a bidder’s number mean you agree to be bound by the terms of the sale in the contract as they are final if you become the higher bidder.

To bid by telephone or in some instances by internet you must pre-register and post a deposit 24 hours prior to the auction.

TERMS

The winning bidder will place their cashier’s check with a bank letter of credit to serve equal to 10% of the winning bid as the deposit then sign the Real Estate contract once the bid is completed, and the balance will be due within 30 days at closing

CONDUCT OF THE AUCTION

Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer.

In the event of a dispute between bidders, the Auctioneer shall make the final decision or remedies thereof to resolve the issues.

Announcements made at the time of the auction from the podium take precedence over all printed material.

Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction premises for interference with auction activities, nuisance, canvassing, soliciting, or other reasons.

BUYER’S PREMIUM

A 10% Buyer’s Premium will be added to the winning high bidder for the total purchase price and inserted in the auction purchase contract as the total purchase price. This would be the cashier’s check provided to register.

CLOSING

Each sale will close not later than 30 days after the auction which will be specified in the agreement at which time the purchaser will pay the balance of the purchase price.

DISCLAIMER

The information contained herein as well as in the advertising and promotion material of the sale has been obtained from a variety of sources deemed reliable, including the seller, most of which has not been independently verified and is not guaranteed. However, Chapman Auction Group LLC and the Seller make no warranties, expressed or implied, as to the accuracy of the information contained herein and expressly disclaim any liability for errors, omissions, or changes regarding any information provided.

Buyer is strongly advised to seek from independent sources of Buyer’s choosing of expert advice and/or inspection, including legal advice, to Buyer’s satisfaction concerning any property and the terms of the sale and all other auction related material prior to the auction. The cost of all inspections, experts, etc…including all liability attendant thereto, are the potential Buyer’s sole responsibility. If the potential Buyer has any objection to the property or assets based on any defect, information disclosed or from information learned from independent inspection, he/she should not bid.

Any and all announcements made by the Auctioneer immediately prior to the auction supersedes any and all printed materials.

No claim will be considered for allowance adjustment or rescission based upon failure of the property to correspond to any particular expectation or standard (except the preliminary title report.)

AGENCY DISCLOSURE

Chapman Auction Group LLC, "Auctioneer", and all licenses associated with Chapman Auction Group LLC and all licenses and employees associated with Chapman Auction Group LLC represent the seller in the sale of the property or assets.

Chapman Auction Group LLC and the Seller reserve the right to withdraw, modify, or cancel the offer without notice at any time.

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