REAL ESTATE TERMS & CONDITIONS : Property AUCTION of 5127 – 47 Street, Provost, Alberta, Canada
Saturday, July 20th, 2019 @ 1: 00 p.m. Sharp!
1. All prospective Buyers are required to register to obtain a Bid Number in order to Bid.
2. All prospective Buyers are required to present banking information (Bank Co. and Financing Contact)
3. Scribner Auction Ltd. and the real estate agent will act as a single agent representing the seller’s interest only – not as a dual agent.
4. The Auction sale is not contingent on the Buyer obtaining financing, nor conditional upon any requirements or events, and will not be extended for any purposes whatsoever.
5. If you are the successful Bidder, a non-refundable deposit of $10,000.00 will be due and payable at the conclusion of the Auction, in the form of personal check, money order, certified cheque or bank draft. The deposit will be held in trust.
6. At the end of the Auction, the successful Bidder will immediately enter into a Real Estate Purchase Contract, and be bound to the Terms & Conditions as set forth. Bidders will also be required to complete a Receipt of Funds Record.
7. Bidders who subsequently fail to close the sale for any and all reasons, other than the failure of the Seller, will be required to release their entire deposit as liquidated damages.
8. The remainder of the purchase price is due in full upon the closing date. Closing date to be determined mutually between seller and buyer.
9. A Buyer’s Premium will not be applied in persons bidding in person on site. The Purchaser shall pay the Purchase Price for the property and all applicable taxes (Provincial and Federal).
10. A Buyer’s Premium of 3% of the Final Sale Price will be applied to all ONLINE Bidders. This does not negate the Deposit (as mentioned in #5) (Deposit is still required)
11. Property is sold “AS IS, WHERE IS” condition. Bidders are advised to perform their own due diligence prior to attending the Auction, or during pre-viewing.
12. All sales are final.
13. The Auction sale will begin promptly at the appointed time and place (1pm Saturday July 20th 2019 at the Property Location of 5127 – 47 Street, Provost, AB) unless conditions prevent such a sale to take place, in which case the Auctioneer will make a decision on where and when.
14. Descriptions made by the Auction Company, Scribner Auction Ltd., are made as accurately as possible in all its literatures, website and advertisements, and are provided for information purposes only and should be verified by the Bidder. The Auction Company, the Directors, and its staff, the Designated Brokers, Seller or their Agents cannot be held liable for any errors or omissions whatsoever.
15. Bidders are required to perform their own due diligence, including but not limited to reviewing all details, measurements, and restrictions prior to bidding at the auction.
16. The Auction Company reserves the right to deny any person admittance to, or expel any person from the Auction event, or to withdraw any or all property(s), or to change the Terms & Conditions, or to reopen bidding on the Property, or may designate one of the Bidders as the successful Bidder, at any time prior to or during the course of the Auction, without just cause.
17. Bidders acknowledge that they are on the Sale site at their own risk. No person shall have any claims against the Auction Company, its staff and representatives, including its Agents for any injuries sustained or for any damages to or loss of property which may occur.
18. Online Bidders acknowledge & agree that they are bidding on the Property (5127 – 47 Street, Provost, Alberta) sight unseen and based solely on the pictures/videos provided through various media outlets.
19. In the event of a tie bid, the bidder on location and in the presence of the Auctioneer will take precedence.
20. IMPORTANT: All legal fees pertaining to the purchase are the total responsibility of the buyer. Seller will be responsible for sale legal fees.
21. The Sale is conditional to "Owner's Approval"
22. The Starting bid must be equal to $110,000.00 CAD or higher.
23. All Bids and Payments are in Canadian Dollars.
24. In the case of dispute, the Auctioneer’s decision shall be final.
NOTE: POSSESSION DATE TO BE DETERMINED BETWEEN THE SUCCESSFUL BIDDER & THE SELLER WITH THE REALTOR AFTER THE CONCLUSION OF THE AUCTION!