Auction Terms & Conditions
Welcome. We welcome you to this important real estate auction. Please review the following carefully. It explains the Auction Terms & Conditions of buying property at the auction.
All bidding is open to the public. All, bidders must provide a $25,000.00 Cashier’s Check to register and obtain a bid number in order to bid at the auction. The check must be made payable to Cash or Huisman Auctions Inc. Seller retains the right to waive bidder requirements in order to accept a bidder registration. The auction will be an open call auction.
All property to be sold in 'As is, Where is' condition, with any and all faults and no implied warranties by seller or auctioneer. All information and dimensions were derived from sources believed correct but are not guaranteed.
All photographs, aerial photographs, location maps and displays are only approximations or approximate locations and are not intended to be used as a survey or definitive location maps.
Neither Huisman Auctions, Inc. nor the Auctioneer is guaranteeing these properties for any suitability of use, access or development. Bidders should verify zoning, use and environmental issues prior to bidding on any parcel.
Buyers shall rely on their own information, judgment and inspection of the property and records.
A 10% Buyer's Premium will be added to the final bid price and included in the total contract price. Auctioneer represents the Seller in this offering and Buyer acknowledges that payment of this Premium does not constitute a dual agency relationship. Bidders should personally inspect all properties.
A 10% deposit, day of auction, is required. Company check or cash will be accepted. Good personal check may be accepted if seller so chooses. Upon acceptance of the High Bid by the Seller the deposit is non-refundable. The successful High Bidder on the property will be immediately required to sign a purchase agreement and make the ten percent deposit.
The balance of purchase price due at closing by Seller's appointed Closing Agent, within 30 days. Cost of survey, title, insurance and inspections, if required or requested, and purchaser’s customary closing fees to be paid by the purchaser to the appointed closing agent. Neither appraisal nor inspections will be a contingency of sale. Taxes and rents, if any, will be pro-rated to close of escrow date. Insurable title will be conveyed to purchaser.
Conduct of the auction and increments of bidding are at the direction of the auctioneer. Auctioneer reserves the right to accept online bids at the auction and absentee bids in advance and to place them during the course of bidding. Auctioneer reserves the right to offer bidding by telephone to pre-qualified bidders. Properties not sold absolute will be offered subject to seller's confirmation within 48 hours or by contract date.
A 2% commission on the bid price will be paid to the licensed Real Estate Broker whose prospect successfully closes on the property. Agent must register bidder by signing the Purchase Agreement prior to Auction Sale Day and submitting the appropriate Buyer Brokerage Registration Form within 24 hours prior to the sale day. Wednesday, May 31 at 5pm will be the final cutoff for registrations. No oral registrations accepted. Registrations of agents/brokers by other agents/brokers will not be accepted. No exceptions.
Potential bidders are advised to review the Auction Agreement for the Purchase and Sale of Real Estate thoroughly, prior to undertaking due diligence review of any particular property. Sample Purchase Agreements are available upon request and on sale day at the Property Information Table or in the Contract room.
Auction Terms & Conditions (continued)
All announcements from the Auction Block will take precedence over all previously printed material and any other oral statements made. The Auction Agreement for the
Purchase and Sale of Real Estate represents the final contracted terms.
In the event of a dispute over any matter at the Auction, the Auctioneer shall make the sole and final decision and will have the right either to accept or reject the final bid or re-open the bidding. Auctioneer and Seller reserve the right to remove any person or party from the auction including but not limited to, a registered bidder or broker.
All proceedings may be video and audio recorded by Auctioneer or Seller. No outside video or audio recordings will be permitted without prior written approval.
The sellers reserve the right to withdraw any property from the Auction at any time.
Purchasers to obtain their own financing if required. Purchase Agreements are not subject to financing or qualification.
If the purchaser fails to comply with any of these Auction Terms & Conditions, the sale shall be canceled, and the seller may, at its option retain the earnest money deposit as liquidated damages. If any sale is so canceled prior to the completion of the Auction, the property may, at the Auctioneer's discretion, be re-offered and resold.
Neither Seller nor Auctioneer makes any representations or warranties of the accuracy or completeness of any information provided. Each prospective purchaser must conduct and rely solely upon their own investigation of the properties. Each bidder shall be deemed to represent, warrant and agree that:
(a) Such bidder has examined the property on which he or she intends to bid, is familiar with the physical condition thereof and has conducted such investigation of the property as such bidder has considered appropriate, or has waived investigation of the property. There is no inspection period after the auction bidding.
(b) Neither Auctioneer nor Sellers, nor any affiliate, agent, officer, employee or representative of any of the foregoing has made any verbal or written representations, warranties, promises or guaranties whatsoever to such bidder, express or implied, with respect to the physical condition, operation, or any other matter or thing affecting or related to the property or the offering of sale of the property,
(c) Such bidder has not relied upon any representations, warranties, guaranties or promises or upon any statements
made or any information provided concerning the property, including but not limited to the Brochures or Property Information Packages provided by the Auctioneer or the Sellers or their respective agents and representatives, and
(d) Has determined to make its bid after having made and relied solely on its own independent investigation, inspection, analysis, appraisal and evaluation of the property and the facts and circumstances related thereto.
Without limiting the generality of the foregoing, neither Auctioneer nor the Seller shall be under any obligation to disclose to any bidder, and shall have no liability for its failure to disclose to any bidder, any information known to it relating to any property.
All bidders will be bound by announcements made at the auction, even though a bidder may not have actually heard the announcement.
The undersigned bidder acknowledges that he or she has read and understands these AUCTION TERMS & CONDITIONS and agrees to be bound thereby.
From 99 South, take the Walnut Ave. Exit 276 and our yard will be on the right.
From 99 North, take the Twin Cities Rd. Exit 277. Cross back over the freeway and make a left at the turnabout onto the frontage road. The yard will be on the right.