Terms & Conditions
Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.rowellauctions.com and posted at tonight’s auction. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property, Do Not Bid!
INTERNET BIDDING INCREMENTS
Range Minimum Range Maximum Increment
$1,000.00 $2,000.00 $50.00
$2,000.00 $5,000.00 $100.00
$5,000.00 $10,000.00 $250.00
$10,000.00 $50,000.00 $500.00
$50,000.00 $100,000.00 $1,000.00
$100,000.00 $250,000.00 $2,500.00
$250,000.00 $500,000.00 $5,000.00
$500,000.00 $1,500,000.00 $25,000.00
$1,500,000.00 $1,500,000.00+ $10,000.00
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.
Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are real time events.
Example: Rowell Auctions, Inc. Simulcast 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 from the time the bid is placed. Example: If an auction scheduled to end at 10:00 a.m. receives a bid at 9:59 a.m., the close time of the auction automatically extends to 10:09 a.m. The auto-extend feature remains active until no further bids are received within the 10 minute time frame. Rowell Auctions reserves the right to adjust the auto extension time period.
Auction bid ending time is subject to automatic extend feature.
The “Live” Auction Event (On Site Bidding Available): For your convenience, on site bid-ding is available for bidders wishing to submit bids in person. On site live auction bidding location is open as listed below.
Tuesday, November 27, 2012 Opening at 6:00pm
Closing at the conclusion of all bidding.
Location: Hilton Garden Inn 110 Interstate West Parkway Lithia Springs, GA 30122
You may also bid directly online by visiting www.rowellauctions.com (registration required)
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Rowell Auctions, Inc. will reject the registration, and bidding activity will be terminated.
Terms: Within 24 hours after the close of the auction, winning bidders will be emailed a contract package to be executed and returned to Rowell Auctions, Inc. within 24 hours of receipt of contract package from Rowell Auctions, Inc. Successful bidders will deposit 10% of winning bid amount or $5,000.00,whichever is greater (provided, however, in the event that the Contract Amount is less than $5,000.00 then the Earnest Money Deposit shall be equal to the Contract Amount) per property in the form of cashier's check or wire transfer to Rowell Auctions, Inc. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 10% buyer’s premium will be added to the bid price to determine the final contract price.
Buyer's Premium Example:
Bid Price: $100,000
Plus 10% Buyer's Premium: $10,000
Total Contract Price: $110,000
Contracts: Contract Documents will be sent to winning bidders within 24 hours of the conclusion of the auction by email. Bidder must execute and fax or email the contract to Rowell Auctions Inc. within 24 hours of receipt of the contract package. Successful bidders not executing and returning their contract within 24 hours of receipt of the contract package will be considered in default.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed 'Contract for Sale of Real Property' to Rowell Auctions and 10% of winning bid amount or $5,000.00,whichever is greater (provided, however, in the event that the Contract Amount is less than $5,000.00 then the Earnest Money Deposit shall be equal to the Contract Amount) per property earnest money deposit as provided in the prestipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the 'Contract for Sale of Real Property'.
Closing: Time being of the essence, these sales shall be closed on or before December 21, 2012. The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. Assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with this sale.
Broker Participation: A two percent (2%) bid price commission is available to properly registered brokers. A Broker Participation Form with complete instructions is available at www.rowellauctions.com.
Agency Disclosure: In all transactions, the auctioneer is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.