Online Auction Terms & Conditions
4 Bank Owned Properties Selling Absolute
Brunswick & St. Marys, GA
MONDAY, NOVEMBER 29, 11 AM

TERMS FOR ONLINE BIDDING: The online registration will need to be completed, including credit card information which will be verified and approved. If you are the successful bidder and do not deliver the earnest money (15% of the purchase price) which must be certified funds or wire transfer within 24 hours from receipt of the contract, a charge of $5,000 will be placed on the account. The card is for verification purposes to ensure we have serious bidders. Balance will be paid in full at closing to be held on or before Wednesday, December 29, 2010. The successful online bidder will be notified immediately following the closing of the auction and emailed the purchase contract. The executed contract shall be emailed to K.J. Otis or faxed to 770.425.4413. If you have any questions, you may contact our controller, K.J. Otis, or our online auction manager, Brad Davis or call 800.479.1763.
SUCCESSFUL ONLINE BIDDER: The successful online bidder will be notified immediately following the closing of the auction and issued the purchase contract. The executed contract shall be emailed to K.J. Otis or faxed to 770.425.4413. The earnest money deposit (15% of the purchase price) must be in certified funds or by wire transfer, along with the original executed purchase contract to be received by John Dixon & Associates no later than 24 hours following receipt of the contract.
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid. Example: For each $10,000, a 10% buyer’s premium of $1,000 will be added to arrive at the total purchase price of $11,000.
CLOSING: Balance of the purchase price is due in 30 days on or before Wednesday, December 29, 2010.
CLOSING ATTORNEY: Closings will be conducted by Jimmy Bishop with the Bishop Law Firm, Brunswick, Georgia (912.264.2390). Deed preparation and attorney’s fees will be split 50/50 between seller and purchaser; all other normal closing costs will be paid by the customary party. Taxes will be prorated as of date of closing. Title insurance will be available at purchaser’s expense.
AGENCY: John Dixon & Associates, auctioneer/broker, is acting exclusively as agent for the seller.

SPECIAL NOTE: Property is selling "as-is, where-is" with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property or contained in public records. The only representation and warranties made are those contained in the Contract of Sale. Seller reserves the right to add or delete property, reject any bid unless selling absolute and/or cancel the sale. Properties will be conveyed by Limited Warranty Deed. Information contained herein was obtained by sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to seller’s reserve, if desired, at their sole discretion unless sold absolute. The property will sell "as-is, where-is" with no warranty, express or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate unless denoted in contract. Neither the seller, John Dixon & Associates nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements in this brochure or other advertisement. Announcements made at the auction will take precedence over written matters.

BIDDER’S ACKNOWLEDGEMENT

I have read and agree to the following terms and conditions, should I be the high bidder.

1.  I hereby agree to comply with the terms stated above in "Successful Online Bidder" which states: The successful online bidder will be notified immediately following the closing of the auction and issued the purchase contract. The executed contract shall be emailed to K.J. Otis or faxed to 770.425.4413. The earnest money deposit (15% of the purchase price) must be in certified funds or by wire transfer, along with the original executed purchase contract to be received by John Dixon & Associates no later than 24 hours following receipt of the contract.

2.  I recognize that this is an auction and is not subject to an attorney review period.  I will review the contract of sale prepared by seller’s counsel prior to the auction.

3.  I agree to review all property information package prior to the auction.

4.  I have read the terms of this sale posted on the premises, as well as all printed and online information. Auctioneer may alter terms of sale through announcements on auction day.

5.  A buyer’s premium of 10% of purchase price will be added to ONLINE bid price and become part of the contract. The successful high bidder will be required to sign a contract of sale immediately upon the conclusion of the auction.

6.  If any check, given in payment that is signed by me as maker or endorser, is not honored for any reason, I agree to pay all reasonable attorney’s fees, together with all costs of suit in the event one is instituted, if such check is placed for collection.

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