REAL ESTATE TERMS AND CONDITIONS
FOR: N32979 Larkin Valley Road, (Town of Preston), Blair, WI 54616
ENDS 10/16/2020 @ 5 PM CST
INSPECTION DATE: 10/10/2020 - 2 pm to 4 pm CST & 10/16/2020 – 4 pm to 5pm CST
$50,000.00 Minimum Opening Bid. The Seller has the right to Accept, Reject, or Counter All Offers.
Auction Terms & Conditions TERMS AND CONDITIONS OF THE AUCTION:
By registering to bid or placing a bid, you agree to be bound by all of these terms & conditions and any other announced terms and conditions of sale or rules of the site. All internet bidders agree that bids placed on the internet shall have the same legal effect as if they were in attendance at the auction in person. ASK QUESTIONS BEFORE YOU BID. THERE ARE NO REFUNDS AND ALL DEPOSITS ARE NON-REFUNDABLE! Only registration via online credit authorization will be required to place bids. Credit card will be required to bid. If you are the high bidder, you will be required to write a WB-13 or WB-11 offer to present to the Seller. PLEASE COME TO THE INSPECTION.
LOCATION OF AUCTION: N32979 Larkin Valley Road, Blair, WI 54616 (Town of Preston)
REAL ESTATE TERMS AND CONDITIONS
1. PROPERTY INSPECTIONS: All interested bidders are highly encouraged to view the property prior to placing any bids at the auction. The property shall be shown by appointment as well as during scheduled Property Previews. To inspect the property, please RSVP and visit during a Property Preview or contact our agent for a private showing. Jennifer Holliday (608) 343-8080 or email firstname.lastname@example.org
2. BIDDER PACKAGES: An informational packet relating to the property may be obtained by prospective bidders by contacting Jennifer Holliday (608) 343-8080 or email. email@example.com Bidder Packages are not designed to replace the bidder's responsibility of conducting their own due diligence with respect to the Auction Property. It is solely a source of information which has been gathered and designed to help Bidders with the inspection and information process.
3. BROKER PARTICIPATION: A Two Percent (2.0%) Buyer's Broker commission will be paid to any properly licensed real estate Broker who 1) registers prior to the end of the auction AND 2) represents a winning buyer, which successfully closes on the property. All commissions (including Buyer's Broker Fees) shall be paid out of closing. To qualify for a Buyer's Broker Commission, the real estate Broker must be a licensed real estate Broker in the state of Wisconsin, who is not prohibited by law from being paid such commission and has completed the required Buyer's Broker Incentive Program form provided by the auction company.
4. 10% BUYERS'S PREMIUM: Ten Percent (10%) Buyer's Premium will be added to the high bid on each property. The total contract price will be equal to the high bid plus the Buyer's Premium.
5. PROPERTY CONDITION: The information given in this auction is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller, Auctioneer, or its Agent(s). Any information contained in the listing and all related materials are subject to the Terms and Conditions of the Auction Real Estate Sales Contract. The property is being sold "AS IS, Where Is" with all faults. Bidder's complete and thorough inspection of the property is highly recommended prior to placing bids at the auction. Any or all of the properties listed may be withdrawn or modified without notice at any time.
6. AUCTION PROCEDURE: The Auctioneer shall at his sole discretion offer the property in any order, format, group or bid increment, which he determines is in the best interest of the Seller. The Auction will be held live on-site as well as through an online auction simultaneously. The Auctioneer will be live on-site and review all bids placed online.
7. AUCTION REGISTRATION: Bidders will be required to register online prior to the auction ending. You may register by visiting https://bid.assuredrealtysolutions.com. Auction terms are presented online for ALL bidders to review prior to bidding. The Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction activities who may create a distraction from the auction, bid rigging, canvassing, soliciting or other reasons deemed necessary by the Auctioneer. Registered bidders must allow enough time for the bidder qualification process, including providing financial documents and required deposits which are outlined below.
8. QUALIFYING TO BID: Registered bidders may be asked to show proof of their financial ability to close. Financing is not a contingency of the sale. The Auctioneer may require a bank statement, a brokerage statement or a financial institution letter showing sufficient funds to close on the purchase up to the amount that you plan to bid.
9. REQUIRED DEPOSIT(S) TO BID: All registered bidders will be required to deposit funds to bid at the auction. A $100 deposit will be required before approved for bidding. IF YOU ARE THE HIGH BIDDER!!! A $2,500.00 Non-refundable earnest monies due within 24 hours of acceptance, remainder of Buyers Premium with 24 hours.
A registered bidder may deposit the funds in two ways:
a. The deposit may be placed in the Auctioneer/Broker escrow account by wiring the sufficient funds. Wiring instructions will be provided upon request. The wire must be received prior to the Auctioneer approving the bidder to bid in the auction and may take up to 5 business days.
b. Registered bidders may present a cashier’s check to the Auctioneer/Broker. Cashier’s checks should be made to Assured Realty Solutions Trust and delivered to Jennifer Holliday PO Box 562 Onalaska, WI 54650. Contact the office prior to delivering the check at (608)343-8080.
10. BIDDER DEPOSIT: For any bidders who are not the high bidder, the deposits will be returned immediately. The cashier’s check will be returned immediately to the live bidders. Wire refunds will be initiated within 48 business hours following the completion of the auction.
11. HIGH BIDDER REQUIREMENTS: The high bidder will be required to place (10%) eight percent of the total contract price down as earnest money and sign an Auction Real Estate Sales Contract. Electronic signatures will be collected on the Auction Real Estate Sales Contract through DocuSign and must be completed immediately following the auction. Down payment shall be wired to the Auctioneer/Broker immediately. The balance of the total contract price shall be due from the buyer at closing.
12. FINANCING: The sale is not contingent on Buyer’s ability to obtain financing. Buyers should arrange for their financing prior to the auction up to the amount that you plan to bid.
13. CLOSING: Closing shall be on or before Thirty (30) days & (45) days if Seller allows following the date of the auction due to Title company & Covid-19. Possession shall be delivered to the buyer at closing. All escrow monies and the closing shall be held at Assured Realty Trust. PO Box 562, Onalaska, WI 54650. Phone 866-493-8326 or 608-343-8080. Seller shall furnish the buyer an Owner's Title Insurance Policy covering the described property, in the amount of the total contract price and shall transfer title with a Warranty Deed. All monies bid/or paid in this auction shall be in U.S. currency.
14. TAXES: The current year’s Property Taxes shall be prorated between Seller and Buyer at Closing based upon the amount of taxes for the prior year. All unpaid taxes for prior years, if any, shall be the responsibility of Seller. Buyer shall assume the payment of taxes for the year of Closing and all subsequent years.
15. EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all leases.
16. AGENCY: Assured Realty Solutions, Assured Auctions, Helmuth Auctions, Representatives, Auctioneers and Employees are Exclusive Agents of the Seller.
17. TECHNOLOGICAL ISSUES: The auction website and/or technology may, from time to time, not operate as intended, at normal speed, with full functionality, or at all. In our sole discretion, the auction website and/or technology may cease to operate for any amount of time, and limitations upon the functionality or use of the Website by the end user may result. Any decision to cease the activity of the Website is solely at the Auctioneer’s discretion.
18. DISCLOSURES: The information provided in this auction is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agent(s). Any information contained in the listing and all related materials are subject to the terms and conditions of the Auction Purchase and Sale Agreement. The property is being sold "As Is, Where Is" with all faults. Bidder's complete inspection of the property is highly recommended prior to placing any bids at the auction. Any announcements made on auction day online will take precedence over all printed materials. Any of the properties listed may be withdrawn or modified without notice at any time. The Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction activities who may create a distraction from the auction, bid rigging, canvassing, soliciting or other reasons deemed necessary by the Auctioneer. All monies bid and/or paid in this auction shall be in U.S. currency.
19. Bidder and his or her agents and employees are responsible for any damage they may cause or liability that may attach from any of their actions on or around the auction site and premises when attending the exhibition, sale or removal of merchandise. Bidder and his or her agents and employees agree to assume all risks of damage to person or property. Bidder and his or her agents and employees specifically release and indemnify Holliday LLC, unknown within contract as (ARS) Assured Realty Solutions & Assured Auctions and Jennifer A Holliday from any liability and causes of action.
20. ARS is providing internet only bidding for this auction. Bidder acknowledges and understands that this service may or may not function correctly at any time, including the auction closing time. Under no circumstances shall Bidder have any kind of claim against ARS or anyone else if the internet service fails to work correctly before or during the auction closing time. ARS will not be responsible for any missed or failed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should place their maximum bids at least two hours prior to the auction closing time. ARS reserves the right to withdraw or re-catalog items in this auction. In the event of any software problem, mistake or other issue, ARS reserves the right to extend the closing times, change the extension time, stop, restart or cancel this auction at its sole discretion. Even though an item may display as "sold" on the internet, no sales are final until they are certified by ARS and Bidder receives an invoice. ARS reserves the right to cancel any or all sales and resell the items in whatever manner it chooses.
21. The bids are advanced at pre-set increments available on the bidding web page which may be changed at any time in ARS's sole discretion. ARS may accept items with secret reserves prices. The seller and ARS reserve the right to bid on behalf of the seller on items on which there may be a reserve price. ARS may reject or cancel any bid for any reason. The record of the auction made by ARS shall be conclusive. This is a Public Auction and as such, all qualified bidders may bid including ARS owners, family members and employees.
22. ARS may refuse registration and bidding privileges to anyone for failure to pay previous auction invoices, failure to provide a valid credit card or any other reason. Bidder hereby agrees that ARS may share information about Bidder's non-payment of auctioneer invoices or shipping charges with other parties and may pursue collection of balances due by any legal means. Bidder agrees to provide any identification ARS may request including but not limited to: driver's license, Social Security card or Passport. Bidder agrees to comply with any stated additional terms or conditions associated with particular items.
23. Bidder agrees that this agreement shall be governed by the laws of the state of Wisconsin and hereby grants sole jurisdiction and agrees to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in La Crosse County, Wisconsin. Both parties waive any right to a jury trial and hereby agree to a bench trial before a judge. This agreement shall be governed in all respects by the laws of the State of Wisconsin. If for any reason, a court of competent jurisdiction finds any part of this agreement to be invalid or unenforceable, that part will be enforced to the maximum extent permissible to affect the original intent of this agreement. If a part is found to be invalid or unenforceable, the remainder of this agreement shall continue in full force and effect. Such invalid or unenforceable part will be deemed severable from the other parts here and will not affect the validity or enforceability of the remaining parts. In the event of any litigation arising out of this Contract, the court shall award the prevailing party all reasonable costs and expenses, including reasonable attorney's fees.
24. By registering for this auction you agree to be added to ARS's email list. Each email we send has an easy unsubscribe link at the bottom of the email. Please do not report our emails as spam. Photo, video and audio recording is being made at all auction exhibitions and removal events. Bidder hereby agrees that ARS may use Bidder's likeness, recorded at these events, for any purpose. We hope you enjoy our auction and are able to make many advantageous purchases.
Jennifer Holliday - Assured Realty Solutions, Assured Auctions
Norman Helmuth – Helmuth Auctions
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