- To bid on our property, you must be of legal age to enter into contract to purchase real estate (18 in most states, 21 in others). If you're in doubt about the legal age to enter into contract in your state, please consult with competent legal counsel before bidding.
- While auction is "active", all bids and offers MUST be placed online. Written offers/faxes will be accepted to Realty2Acution.com.
- Winning bid is subject to seller approval and bank approval, to be decided within 24 business hours after auction.
- Buyers Agent commission of 4% is being offered, thru the listing agent/broker, unless specified otherwise in the listing.
- All bids are placed in US Dollars.
- A 3% buyer’s premium will be added to the final bid price to arrive at the total contract purchase price which shall be paid by the buyer(s).
- If you are outbid by another bidder, you will receive an email notice so you can return and increase your bid if you so desire.
- The bidding will be open and everyone will have access to the bid history during the auction.
- As the auction nears the ending time it will auto-extend until bidding is silent for 2 minutes.
- If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
- The high bidder will be notified via email after the auction ends.
- Seller reserves the right to postpone or cancel this auction at any time for any reason.
- Sale is “as-is”, "where-is". Seller is selling "AS-IS" and will not fix anything.
- Within 1 day of auction close, winning bidder will be asked to show proof of funds sign a Purchase & Sale Agreement / sales contract at the winning bid amount and based on the terms described here.
- Closing will take place at seller's and winning bidder's agreed upon title company within 14 days of signing the contract.
- When contract is signed, winning bidder will pay $1000 earnest money to be held in escrow with Selling Broker or with the title company handling the closing.
- Winning bidder may, at their option and expense order a title examination and insurance.
- Some properties will allow Bidders to place a BEST OFFER prior to the end of the Online Bidding. This type of offer will be presented to Seller and Bank for they're approval, counter or denial. Bidder must specify the lot desired, bid/offer amount, closing time and show proof of funds.
- Bidders who are working with a licensed real estate agent MUST notify their agent prior to placing a bid and the agent must register before bidding. In the event Bidder does not have an agent registered prior to bidding, Realty2Auction.com will represent Bidder as their Buyer Broker.
- If bidder desires to utilize Sellers Bank (Peoples Bank) for financing, bidder must receive bank approval prior to bidding.
Listing and selling commissions are listed on a contractual agreement between the Listing Broker and the Seller.
Bidder/Buyer Agrees to Pay to Realty2Auction.com a Buyer's Internet Advertising/Transaction Fee of three percent (3%) of winning bid price or $500 whichever is greater. example: Final Price = Winning bid plus 3% Buyers Premium (or $500. whichever is greater)
By bidding Buyer hereby agree to the following:
A) This Property is offered in affiliation with and/or through an online bidding event conducted by Realty2Auction.com
B) Realty2Auction.com is due an Internet Transaction Fee of to be paid by the winning Buyer upon closing.
C) Buyer authorizes the closing agency to list the Internet Transaction Fee as a Buyer Cost on the settlement statement/HUD1 and disburse the same directly to Realty2Auction.com immediately upon closing. Buyer further authorizes the closing agency to provide a copy of the settlement statement/HUD 1 to Realty2Auction.com prior to closing for verification of Realty2Auctions’ fee.
Buyers and Sellers agree: If these terms and conditions conflict with any provisions of the Purchase and Sale Agreement including all prior Addendums or Counter Offers, agreements these terms shall control.