CONTRACT FOR SALE: Each property is offered under the specific terms provided in the contract. The Contract for Sale is available at www.prachtauction.net Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale DO NOT BID!
INTERNET BIDDING INCREMENTS:
Range Minimum Range Maximum Increment
$ 0 - $ 50,000 $ 1000.00
$ 50,000 - $ 100,000 $ 2000.00
$ 100,000 - $ 250,000 $ 5000.00
$ 250,000 - $1,000,000 $10,000.00
$1,000,000 -$2,500,000 $25,000.00
Chris Pracht Auctioneers, R&A, LLC has the sole authority to resolve any bidding disputes as they may arise.
AUCTION END TIMES: All Chris Pracht Auctioneers, R&A, LLC online real estate auctions have an auto extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the auction for 10 minutes form the time the bid is placed. Example: If an auction scheduled to end at 2:00pm receives a bid at 1:59pm, the close time of the auction automatically extends to 2:09pm. The auto extend feature remains active until no further bids are received on the entire group of properties within the 10 minute time frame. Chris Pracht Auctioneers R&A, LLC reserves the right to adjust the auto extension time period.
BIDDER VERIFICATION: The identity of all Bidders will be verified, bidding rights are provisional, and if complete verification is not possible Chris Pracht Auctioneers, R&A, LLC will reject the registration and bidding will be terminated.
TERMS: At the close of the auction, successful bidders will be e-mailed the contract package to execute and return to Chris Pracht Auctioneers R&A, LLC. Successful bidders will deposit $25,000 for Hwy 4440; or $$10,000 for properties 4434 Hwy 24 or 211 Green Cherry Rd non refundable deposit for each property in the form of cashier's check or bank wire transfer with Chris Pracht Auctioneers R&A, LLC WITHIN 24 hours of receipt of the contract package. The entirety of the remaining balance due at closing as stipulated in the Contract for Sale. Purchaser shall be responsible for all wire transfer fees.
On-Site Bidders will sign contract and auction documents; Certified check for the non refundable deposit as above.
BUYER'S PREMIUM: A 10% Buyer's Premium will be added to the bid price on all properties to determine the final contact price.
Example: Bid Price $100,000
10% Buyer's Premium $ 10,000
TOTAL Contract price $110,000
CONTRACTS: Contract Packages will be sent via e-mail to the successful high bidders at the conclusion of the auction. Successful bidder must execute and e-mail back to Chris Pracht Auctioneers R&A, LLC within 24 hours of receipt. Successful high bidders not executing and returning their contract package with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administration fee (as defined below). All Administrative Fees are non-refundable.
AUCTION ADMINISTRATIVE FEE: In the event the winning bidder fails to submit the Contract package and deposit earnest money as provided in the pre-stipulate auction terms, the winning bidder will be charged and Administration Fee of $2,500.00 on the credit card they provided at auction registration. Additional default remedies are reserved by Chris Pracht Auctioneers R&A, LLC and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale. All Administrative Fees are non-refundable.
CLOSING: Time being of the Essence, these sales shall be closed on or before November 6th, 2014. The purchaser shall be responsible for ALL closing costs associated with the transaction. Taxes will be pro-rated as at the date of closing.