LIBERTY AUCTION & REALTY ONLINE AUCTION BIDDING TERMS

Terms Day of sale: A 20% Earnest Money Deposit day of sale, balance at closing.

All information was derived from sources believed to be correct but not guaranteed.

A 10% Buyers Premium will be added to final bid to reach total contract price.

This property is selling with 'OWNER'S CONFIRMATION' by which term is meant that the seller(s) will have the right to accept or reject the final bid.

ONLINE AUCTION TERMS:

Agency Disclosure: Liberty Auction and Realty is acting as agent for the seller.

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED IN THE PURCHASE CONTRACT. PLEASE READ AND REVIEW THE CONTRACT THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE CONTRACT FOR SALE OF REAL ESTATE, DO NOT BID.

AUCTION END TIMES: Liberty Auction & Realty Online Auctions are timed events and all bidding will close at specified time. Liberty Auction & Realty Online Auctions also have an auto extend feature. Any bid placed in the final 5 minutes of an auction, the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04. The auto extend feature remains active until no further bids are received within a 5 minute time frame.

REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Liberty Auction & Realty reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor LIBERTY AUCTION & REALTY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to the email address provided in your registration with updated information as deemed necessary by Liberty Auction & Realty.

TERMS: 20% of the final bid price as nonrefundable earnest money in the form of a certified check, within 72 hours of the close of auction, with the balance of purchase price due at closing with shall be completed within 30 days. Purchaser shall be responsible for any currency exchange fees to US dollars. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Contract for Sale of Real Estate.

DEED: Good Insurable Deed at Closing.

BUYERÂ’S PREMIUM: There will be a buyerÂ’s premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% buyerÂ’s premium) equals TOTAL purchase price of $110,000.

AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 72 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder will be charged a penalty fee of $3,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Liberty Auction & Realty and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Liberty Auction & Realty reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.

Any dispute between Liberty Auction & Realty, its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Henderson County, Tennessee. By bidding on the property, buyer agrees to all terms and conditions set forth.

Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Liberty Auction & Realty will e-mail documents to be executed and fax or e-mail back to Liberty Auction & Realty within 72 hours of the end of the auction. Successful bidders not executing and returning contracts with earnest money deposit within 72 hours will be considered in default. Any and all inspections that a buyer may want must be done at buyerÂ’s expense prior to the close of the online bidding.

Title: As specified in the Contract for Sale of Real Estate
Deed: As specified in the Contract for Sale of Real Estate
Possession: Will be given with Delivery of Deed.
Real Estate Taxes and Closing Cost: All taxes will be prorated to day of closing using the most current available yearÂ’s tax amount. The purchaser will pay all other closing costs associated with the purchaserÂ’s side of the sale, including local and state recording fees and any cost associated with the purchaserÂ’s loan.
Easements: Subject to any and all easements of record.
Zoning: This property is subject to all state and local zoning ordinances.

Disclaimer: All properties are being sold 'as is, where is'. We encourage bidders to do property inspections and rely upon their own conclusions. All information is deemed reliable, but is not guaranteed. All information is believed to be correct to the best of the auctioneer's knowledge.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Liberty Auction & Realty will reject the registration, and bidding activity will be terminated. The Seller and Liberty Auction & Realty reserve the right to preclude any person from bidding if there is any question as to the personÂ’s credentials, fitness, etc. Bidders agree to keep their user-name and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.

Agency: Liberty Auction & Realty, Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Liberty Auction & Realty, its Agents, and Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

NEW DATA, CORRECTIONS, AND CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. Disclaimer & Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an Â“AS IS, WHERE ISÂ” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Liberty Auction & Realty, Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Liberty Auction & Realty, Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Liberty Auction & Realty are final.

6337 SUMMER AVE, MEMPHIS TN