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The increments of bidding on this auction will be as follows:$100 -- $500.00 = $25.00 minimum bidding increments$501 -- $1,000.00 = $50.00 minimum bidding increments$1,001.00 -- $20,000 = $100.00 minimum bidding increments$20,001.00 -- $50,000.00 = $250.00 minimum bidding increments$50,001.00 -- $200,000.00 = $1,000.00 minimum bidding increments$200,001.00 -- $500,000.00 = $5,000.00 minimum bidding increments$500,001 and up = $10,000.00 minimum bidding increments20.No Stop Payment Orders or Credit Card Charge-Backs.
United Country Forbes Realty & Auctions, LLC reserves the right, at their sole discretion, to modify the date and time, order and details of the auction for any reason, or no reason at all, including, but not limited to: technical issues, emergencies, legal issues and/or the convenience of the Seller(s) or the auction company.18.
Any properly registered and qualified bidder, including auctioneer and auctioneer employees, may bid on the property.11.
THE BROKER/AUCTIONEER/FIRM IS CONDUCTING ALL BROKERAGE/AUCTION ACTIVITIES IN REGARD TO THIS TRANSACTION WITHOUT RESPECT TO THE RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP OR FAMILIAL STATUS, SEXUAL ORIENTATION OR GENDER IDENTITY OF ANY PARTY OR PROSPECTIVE PARTY TO THIS AGREEMENT. No Bidder on the real estate may be declared the high bidder unless he/she is properly registered to bid on the real estate and sign the proper forms for bidder registration.13.
Each Registered Bidder acknowledges and agrees that Auctioneer is relying on the Registered Bidder's agreement not to issue a stop payment order or to initiate a credit card charge back in accepting such Registered Bidder's Bidder Registration and in issuing a Bidder Number.21. This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, including its statutes of limitations, but without regard to its rules governing conflict of laws.
All claims, disputes, and other matters between the parties __________________Page 4 of 6Buyer's Initials Buyer's Initialsshall be brought in the state or federal courts sitting in and for Perquimans County, North Carolina, which courts shall have exclusive jurisdiction, and shall be the exclusive venue, for any and all such claims, disputes, and other matters.
If, in violation of these Bidder Terms and Conditions, a Registered Bidder issues a stop payment order or initiates a credit card charge-bank, such Registered Bidder shall, even if successful, remain liable for all purchases made at the Auction, and shall be responsible for all costs and expenses, including attorneys' fees, incurred by or on behalf of Auctioneer or Seller in challenging the stop payment order or credit card charge-back and in collecting payment for the Property purchased at the Auction.
Each Registered Bidder agrees that the agreement not to issue a stop payment order or to initiate a credit card charge back is a condition to the issuance of a Bidder Number to such Registered Bidder, and is being made as an inducement for Auctioneer to accept such Registered Bidder's Bidder Registration and to issue a Bidder Number.The high bidder will be required to sign, and fully execute, the Offer to Purchase and Contract, according to these terms and conditions and displayed elsewhere in this "Bidder Package" and return the properly executed Offer to Purchase and Contract, WITHOUT ANY MODIFICATIONS to United Country Forbes Realty & Auctions, LLC home office, located at 201 Ocean Highway S., Hertford, NC 27944 prior to PM on Thursday, November 9, 2017. The earnest money deposit is to be made payable to United Country Forbes Realty & Auctions, LLC to be deposited in its NON - INTEREST BEARING Trust Account until closing or dispersed as provided by the purchase contract.__________________Page 1 of 6Buyer's Initials Buyer's Initials6.In addition, buyer must make an earnest money deposit of at least 10% of the contract purchase price no later than PM on Thursday, November 9, 2017, by cash, bank guaranteed check or wire transfer in US Funds. If Buyer fails to perform as specified in the offer to purchase contract, the earnest money deposit will be forfeited to the SELLER and Auctioneer as liquidated damages.Buyer will pay all other closing costs including the N/A County 1% Transfer Tax.County real estate taxes will be prorated at closing, with seller paying all prior year taxes, and fees, and current year taxes, and fees, from January 1, 2017 through the day of closing. The offer to purchase contract and its terms will prevail as to the terms of the agreement between buyer and seller.9.All inspection periods, INCLUDING, BUT NOT LIMITED TO, Structural, HVAC, Lead Based Paint and OTHER ENVIRONMENTAL ASSESSMENTS, shall be PRIOR TO THE AUCTION and no inspection conducted after the auction and after the signing of the Purchase Contract shall be grounds for not performing as specified in the purchase contract.