Auction Associates Highland Illinois/GRS Auction Services
Real Estate Webcast and Live Bidding Terms & Conditions
By registering to bid online or participating in the live auction for Real Estate, Bidders agree to adhere to the following Terms and Conditions.
Bidders should refer to the marketing flier for specific terms of the auction.
- If planning to bid online, Auction registration must be completed no later than Tuesday, May 25, 2021 by 4:00 PM. Auction starts (Saturday, May 29 at 11:00 am). All Real Estate bidders must supply valid identification and establish credit with the Auction Company prior to bidding online. Credit authorization may be made by calling 636-600-1009.
- Live Auction participants may register for the auction on site, day of auction. Live Bidder registration begins Saturday, May 29, at 10:30 am, and ends when the final Bid is presented and either accepted or rejected by the Seller..
- Credit card deposits or transactions will be charged a 3% convenience fee.
- Real Estate is sold “As Is”, with no warranties or guarantees, express or implied, made by the Seller, Auctioneer or Auction Company.
- By bidding for Real Estate online or in person, the bidder shows acceptance of the terms of the auction and acceptance of the Real Estate being bid on.
- No bidder shall retract their bid. Bids are irrevocable.
- Bidders accept responsibility to conduct necessary ‘due diligence’ on the property prior to the auction and rely solely on their own judgment when bidding. The site is available for inspection May 22, 10A-2P or by appointment.
- All Statements at Auction take precedence over printed material.
- Information presented is believed to be from reliable sources. Auction Company and Seller make no representations to accuracy of information.
- Online Bidders are required to make an Earnest money deposit of $1,000 to Auction Company by 4:00 PM, Tuesday, May 25, 20201 by 4:00PM prior to auction via bank wire transfer or charged to a credit card. Contact (636)600-1009 or Auction Associates at (618) 210-1222 for wiring instructions or to make payment. Deposits will be refunded to non-wining Bidders the following Monday.
- Winning bidder will immediately upon announcement of sale make a deposit of $5,000.00 via certified check, wire transfer or credit card and execute Sale Contract signed by Buyer and Seller at Auction.
- The successful high bidder will be announced at the end of the auction and is expected to cooperate fully with Auction Company and title insurance company about signing and completing the sales contract, disclosures (if applicable) and any paperwork necessary to complete the sale, whether via overnight mail, standard mail, electronic communication, fax, or in person. Online bidders agree to execute agreement through online Adobe Sign immediately after receipt the same date as auction ending May 29, 2021.
- Payment is due in full at Closing anticipated within 30 days of the Auction.
- Real Estate Taxes are pro-rated to closing date based on prior year tax statement.
- If bidder breaches or defaults any portion of the terms & conditions of auction, bidder agrees to pay all charges and expenses incurred by Auction Company, including, without limitation, reasonable attorney’s fees, and deficiencies and re-marketing expenses resulting from resale of the item(s) or property. Default may also result in loss of deposit.