Auction Terms & Conditions TERMS AND CONDITIONS
IF YOU DO NOT UNDERSTAND THE TERMS AND CONDITIONS SET FORTH BELOW, DO NOT EXECUTE THIS DOCUMENT AND DO NOT BID.
PROPERTY IS SOLD AS A TOTAL BID NOT PER ACRE.
Any potential bidder who does not understand these Terms and Conditions should seek legal advice before registering to bid, executing any document relating to this auction, whether electronically or otherwise, or placing a bid.
1. PROCEDURE: Any person who registers or bids at an auction conducted by United Country Land and Lake Properties (the "Bidder") agrees to be bound by these Terms and Conditions, the auction announcements, and the Contract for Purchase and Sale. These Terms and Conditions shall be binding on the parties thereto and their successors and assigns. Bidder further acknowledges receiving a copy of these Terms and Conditions for their records. A bid placed by Bidder will be deemed conclusive proof that Bidder has read, understands, and agrees to be bound by these Terms and Conditions. Bidding for each auction ends at the time specified in the auction details on the auction website for each particular property, with a soft close, meaning that a bid in the final minute will extend bidding by 2 minutes. Once submitted, a bid may not be retracted. Any attempt by a Bidder to retract a bid will result in such Bidder being prohibited from participating in any future auction held by United Country Land and Lake Properties and may subject such Bidder to potential legal liability, including, but not limited to, liability for damages suffered by the seller of the property ("Seller") and/or United Country Land and Lake Properties. All bids placed are by the acre or lump sum, as provided in the auction details on the auction website for each particular property.
2. BUYERS PREMIUM: Buyer's Premium will be added to the final bid price to arrive at the contract sales price. Actual Buyer's Premium will be stated in the auction details on the auction website for each particular property.
3. INSPECTION. Any and all inspections that a Bidder may want must be done at Bidder's expense prior to auction. Auctions are NOT contingent upon or subject to financing, appraisal, survey, inspections, or any other contingency of any kind nor will closing of the sale of the auctioned property be delayed for any such reason. All inspections shall be made, and financing arranged prior to the close of bidding. It is Bidder's responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns; or any other desired inspection. Bidder acknowledges that Bidder has been provided an opportunity to inspect the auctioned property prior to the auction and that Bidder has either performed all desired inspections or accepts the risk of not having done so. Any information provided by Seller or United Country Land and Lake Properties has been obtained from a variety of sources. Seller and United Country Land and Lake Properties have not made any independent investigation or verification of the information and make no representation as to its accuracy or completeness. In bidding on the auctioned property, Bidder is relying solely on Bidder's own investigation of the auctioned property and not on any information provided or to be provided by Seller or United Country Land and Lake Properties.
4. ACCEPTANCE OF BID PRICES: In the event Bidder is the successful Bidder at the auction, Bidder's bid constitutes an irrevocable offer to purchase the auctioned property and Bidder will be bound by said offer. The successful Bidder will enter into a Contract for Purchase and Sale for the auctioned property immediately upon being declared the successful Bidder by the Auctioneer. Upon the close of the auction, the Contract for Purchase and Sale will be forwarded via email to the successful Bidder. United Country Land and Lake Properties must receive a signed copy of the Contract for Purchase and Sale from the successful Bidder on or before twenty-four (24) hours after the end of the auction. The down payment from the successful Bidder shall be made upon acceptance of the Contract for Purchase and Sale by Seller. The Contract for Purchase and Sale will be accepted via hand delivery, fax, or email of a scanned copy. In the event that Bidder is the successful Bidder but fails or refuses to execute the Contract for Purchase and Sale, Bidder acknowledges that, at the sole discretion of Seller, these Terms and Conditions together with the Contract for Purchase and Sale executed by the Seller are to be construed together for the purposes of satisfying the statute of frauds and will collectively constitute an enforceable agreement between Bidder and Seller for the sale and purchase of the auctioned property. Further, a successful Bidder who does not execute and return the Contract for Purchase and Sale within twenty-four (24) hours of the end of the auction and deposit the down payment upon acceptance of the Contract for Purchase and Sale by Seller, will be considered in default and will remain liable to United Country Land and Lake Properties and/or Seller for any damages resulting from its failure to comply with these Terms and Conditions.
5. BIDDER VERIFICATION: All Bidders must provide their full name, address and daytime/evening phone number. United Country Land and Lake Properties reserves the right to deny registration or reject any Bidder. The identity of all Bidders will be verified, bidding rights are provisional, and if complete verification is not possible, United Country Land and Lake Properties will reject the registration, and bidding activity will be terminated. Seller, Seller's agent and United Country Land and Lake Properties reserve the right to prevent any person from bidding if there is any question as to the person's credentials, capability, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the United Country Land and Lake Properties website all Bidders must obey any and all local state and federal laws. Violations will result in termination of website use privileges.
6. DOWN PAYMENT: 10% of the purchase price of the auctioned property will be due upon acceptance of the Contract for Purchase and Sale by Seller. Business or Personal Checks or Wire Transfer are accepted. Successful Bidder shall be responsible for all wire transfer fees.
7. CLOSING: Closing shall be on or before 3:00 PM on the date set forth in the Contract for Purchase and Sale.
8. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant, if any.
9. TITLE: Seller shall furnish the successful Bidder(s) at Seller's expense an Owner's Policy of Title Insurance in the amount of the purchase price and agrees to provide and execute a deed conveying title to the auctioned property to the successful Bidder(s). The auctioned property is and shall be subject to any and all easements, whether recorded or not recorded, all other matters of record, any matters that would be reflected on a survey of the auctioned property, and all state and local zoning regulations.
10. SURVEY: AT SELLERS OPTION, Seller may provide a new survey where there is no existing legal description to convey title.
11. REAL ESTATE TAXES: The real estate taxes for the year of closing shall be paid in accordance with the terms in the auction details on the auction website for each particular property and in the accepted Contract for Purchase and Sale.
12. PARTICIPATION AND COMPLIANCE: By participating in an auction, Bidder represents, irrefutably warrants and covenants that:
- It agrees to all terms and conditions set forth herein and in the auction details on the auction website for each particular property as well as those set at the beginning of the auction.
- It shall not misrepresent its ability to close the purchase of the auctioned property pursuant to the terms and conditions of the auction.
- It has the capacity to close the purchase of the auctioned property and that any bid it makes on the auctioned property constitutes an irrevocable offer to buy the auctioned property for the full amount of the bid plus buyer's premium.
- It has the legal authority to enter into a Contract for Purchase and Sale to purchase the auctioned property.
- It shall forfeit all deposits and/or down payment or otherwise pay as liquidated damages all monies deposited if payment is not made in full by the time specified.
- It represents and warrants that it is bidding on its own behalf and not on behalf of or at the direction of Seller.
- It understands and acknowledges that any attempt to retract a bid will result in Bidder and any related entities or entities under common control with Bidder being disqualified from all future auctions held by United Country Land and Lake Properties.
13. DISCLAIMER; ABSENCE OF WARRANTIES: All information contained in the auction details on the auction website for each particular property and all related materials are subject to the terms and conditions outlined in the Contract for Purchase and Sale. The auctioned property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation either expressed or implied, concerning the auctioned property is made by the Seller, Seller's agent or United Country Land and Lake Properties. All lines drawn on maps, photographs, etc., of the auctioned property are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the auctioned property prior to bidding. The information in the auction details on the auction website for each particular property is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Seller's agent or United Country Land and Lake Properties. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of United Country Land and Lake Properties are final.
14. MALFUNCTION, SHUTDOWN, AND LOSS OF SERVICE: The results of the auction may be rendered void if malfunction, shutdown, or temporary loss of internet service occurs. In such an event, United Country Land and Lake Properties reserves the right to remedy the situation in whichever way best benefits the Seller, including the cancellation of existing bids. United Country Land and Lake Properties shall not be held liable in any way for any malfunctions, shutdowns, or loss of internet service. Bidder acknowledges and understands that internet service may or may not function correctly at the close of the auction. Under no circumstances shall Bidder have any kind of claim against United Country Land and Lake Properties or anyone else if the internet service fails to work correctly during the close of the auction. United Country Land and Lake Properties will not be responsible for any missed bids from any source.
15. INDEMNIFICATION AND ACCEPTANCE OF TERMS; WAIVER OF JURY TRIAL: Bidder agrees to indemnify and hold harmless Seller, Seller's agent and United Country Land and Lake Properties from and against all claims and liabilities resulting from any online auction, including but not limited to: proximate or consequential damages, failure to comply with local, state, or federal laws, and cost of legal expenses arising therefrom. No person shall have any claim against United Country Land and Lake Properties, their respective agents or employees for any injuries sustained or damages to or loss of property that may occur. These Terms and Conditions, and all questions with respect to the interpretation of these conditions, shall be governed by and construed in accordance with the laws of the State of Missouri, without regard to conflict of law's provisions. Bidder expressly consents to personal and exclusive jurisdiction in the courts of the State of Missouri located in Montgomery County. Bidder hereby knowingly, voluntarily, and intentionally waives (to the extent permitted by applicable law) any right it may have to a trial by jury of any dispute arising under or relating to this agreement and agrees that any such dispute shall be tried before a judge sitting without a jury. In bidding, bidder consent to agreeing with all the Terms and Conditions stated above and any auction specific terms posted in the auction details on the auction website for each particular property and/or terms emailed to Bidder and or terms provided to Bidder by United Country Land and Lake Properties.
16. ACKNOWLEDGMENT OF RISK: Potential Bidders when inspecting and successful Bidders or their agents acknowledge that the auctioned property is a potentially dangerous place. Every person who enters the auctioned property does so at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. Successful Bidders will so advise their agents and employees. This acknowledged risk extends into all activities involved in the inspection of the auctioned property and preparation of the auctioned property for closing, including disconnection of utilities. Persons attending the auctioned property during preview, sale or inspection assume all risks of injury damage or loss of property and specifically release Seller, Seller's agent and United Country Land and Lake Properties from liability.
17. ANNOUNCEMENTS. Auction announcements take precedence over anything previously stated or printed, including these Terms and Conditions.
18. NO ADDITIONAL RIGHTS. These Terms and Conditions, especially as they relate to the qualifications of potential Bidders, are designed for the protection and benefit of Seller, and do not create any additional rights or causes of action for Bidder. On a case-by-case basis, and at the sole discretion of Seller or United Country Land and Lake Properties, exceptions to certain Terms and Conditions may be made.
19. In the event that any provision contained in these Terms and Conditions is determined to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the validity, legality, and enforceability of the remaining provisions of the Terms and Conditions will not be in any way impaired.
Seller User Terms
Bidder User Terms