Ron Taylor and Sons Auctioneering and Real Estate The Restorer, Inc. POB 1083 Louisburg, NC 27549 Office 252-257-4822 Toll Free 1-888-940-0642 Cell 919-939-9678 Fax 252-257-5823
Date of Auction: _______________ Address of Property to be Auctioned: _________________________________________________
Terms and Conditions of the Auction And Bid Certification
By signing this certification and returning it to the office of Ron Taylor and Sons Auctioneering and Real Estate I hereby certify that:
1. I acknowledge that I have received a complete bid package.
2. I have read the auction rules and bidding format as set out by the Auctioneers and contained in the bid package and I completely understand them.
3. I understand that the terms and rules of the auction will be strictly enforced and that there will be no exceptions. 4. I certify that I currently have sufficient funds to meet the “deposit” requirements as called for by the agreement of purchase and sale.
5. I have examined the proposed agreement of purchase and sale given to me as part of the bid package and understand that it is a legally binding contract and is not contingent upon financing or anything else.
6. I understand that if I am the successful bidder, I will be required to sign the agreement of purchase and sale immediately upon notice of being the successful bidder. I agree to complete and sign the agreement of purchase and sale immediately upon such transmitted notice.
7. I understand that a 10%buyer’s premium will be added to my final bid and is due in addition to my final bid to complete the final purchase price.
8. I understand that the Auctioneer(s) are agents for the seller and there is no relationship of dual agency.
9. I understand that the purchase price of the property will become public information immediately following the auction and that this information may be published. 10. That the property is being sold on a “As Is, Where Is, With All Its Faults, if any” and the Auctioneer recommends that any potential bidder, including his/her agents and representatives, inspect and satisfy himself/herself as to the condition and characteristic of the Property prior to the auction.
11. That there are no contingencies for cancelling a sale on the basis of a post- auction inspection or for any recommendation by any adviser(s).
12. The Auctioneer makes no representation concerning the Property and its fitness or suitability for any particular purpose.
13. The winning Bidder/Buyer must be able to close with 45 days or less, from the date of the sell.
14. That the winning Bidder/Buyer will pay a non-refundable down payment of $10,000 immediately following the conclusion of the auction in cash or guaranteed funds. The down payment will be forfeited if the Buyer fails to close. 15. Bad checks are considered a felony, viz., obtaining property by false pretense.
16. Disputes, if any, will be adjudicated according to North Carolina state law.
17. Auctioneer has custodian rights to the property for the purpose of having someone removed from the property or arrested.
18. Announcements at the Auction take precedent over any printed material.
19. I understand that this is a reserve auction and the final high bid must be approved by the seller before “sold” can be declared.
20. While the Auctioneer and Seller deem the amount of square footage is accurate, it is the bidders responsible to determine its accuracy.
21. I understand that my registration for this auction will not be accepted without providing an opening bid (on the space provided on this form) and that this constitutes a binding bid. Opening Bid Amount: $ ______________________________________________ (Plus 10% Buyer's Premium) Signature: