REAL ESTATE TERMS AND CONDITIONS
FOR: 5614 Bellingham Rd, Rockford, IL 61036
LOCATION OF AUCTION: 5614 Bellingham Rd, Rockford, IL
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. Her contact info is Angela Stodden at (815) 777-3012 or email. email@example.com.
2. BIDDER PACKAGES: An informational packet relating to the property may be obtained by prospective bidders by contacting Jennifer Holliday @ (866)-493-8326 or Angela Stodden @ (815) 777-3012 or email. firstname.lastname@example.org. or 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 Illinois, 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: A 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://ucassuredrealty.bidwrangler.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 sufficient 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 $2,500 deposit will be required before approved for bidding.
A registered bidders may deposit the funds in two ways:
a. The deposit may be placed in the Auctioneer’s or Broker of Record 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. Cashier’s checks should be made to United Country – Heartland Realty Trust and delivered to Angela Stodden at the United Country – Heartland office located at 809 Spring Street, Galena, IL 61036. Contact the office prior to delivering the check at (815)777-3012.
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%) ten 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 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 following the date of the auction.
Possession shall be delivered to the buyer at closing. All escrow monies and the closing shall be held at TBD. Their address and phone number: TBD. 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: United Country- Assured Realty Solutions, and United Country - Heartland Realty and its Agents, 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.
Jennifer Holliday - United Country - Assured Realty Solutions, Angela Stodden United Country- Heartland Real Estate
Personal Property Terms and Conditions Day of Live Auction.TERMS AND CONDITIONS: Payment made in full prior to pickup. BIDDERS WILL BE CHARGED A 10% BUYERS FEE, A 4% Credit Card Courtesy Fee will be added if payment is made by card. CREDIT CARDS BEING DECLINED: Successful bidders with credit cards that are declined on payment day will be charged a $40 processing fee to process an additional credit card. UC-ARS & Auction Services LLC allows no exceptions to this policy.
FAILURE TO PICK UP ITEMS: Failure to pick up your items on scheduled pick up days will result in processing your credit card for payment. If items are not picked, you must contact us (866-493-8326), otherwise the items will be held for only 10 days. Items that do not get picked up on pickup day, on ‘onsite’ sales, will be charged $10 per item on smaller items / $35 per item on larger items for removal PER lot.UC-ARS & Auction Services LLC allows no exception to this policy. After 10 days, all items left become the sole property of UC-ARS & Auction Services LLC & no refund will be given. Any other arrangements for shipping, transportation or physical pick-up must be made prior to the sale ending. Please note these assets are sold only one time with non-retractable bids. When you bid on any item, you are entering into a binding contract. If your bid is the winning bid on any item, your credit card will be charged for your purchase at the end of pick up day unless prior arrangements have been made. 15% Buyers Fee Applies. Add 4% ior card purchses. We accept American Express, Visa, Mastercard and Discover.. All property is sold “AS IS, WHERE IS”, and ALL SALES ARE FINAL. Property is open to intense public inspection. It is the Bidder’s responsibility to determine age, type of condition, quality, authenticity, realness, uniqueness, genuine aspect, value or any other physical characteristics.UC-ARS & Auction Services LLC may attempt to describe at best the merchandise in public advertising, on the internet and at the auction but makes no representations at all. In no event shall UC-ARS & Auction Services LLC be held responsible for having made or implied any warranty of salability or condition for any particular use or purpose. Bidder shall be the individual judge of item’s value. Bidders, who bid ‘off site’ and are not present at the online auction or preview, understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. The bidder is responsible for the determination of age, rarity, physical condition, value, genuineness, or any other physical characteristics.UC-ARS & Auction Services LLC shall attempt to describe in detail each item and any important information regarding that item. Bidders understand and agree they are bidding over the internet and technical issues may occur that UC-ARS & Auction Services LLC has no control over and is not responsible if your bid fails to be recorded, this is especially important near closing times due to high volume. UC-ARS & Auction Services LLC strongly suggests you take advantage of our max bid feature so you are covered in the most efficient way possible.UC-ARS & Auction Services LLC will not be responsible for any omissions, errors, or misprints in the description of any merchandise or auction items. Bidders realize and agree that sellers may be bidding to protect their investment. Auctioneers may be bidding to purchase or to protect seller's investment. Auction lots can be removed from the auction at any time prior to close of the auction. Bidder agrees that everything is sold AS IS – WHERE IS and that they may not return any item they purchase for any reason. Have Fun and Thanks For Bidding!! UC-Assured Realty Solutions & Auction Services