Auction Terms & Conditions
This auction is an as-is sale not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding, and specified in the attached “Contract to Buy and Sell Real Property. “
Per the contract, ‘time is of the essence’; you must close the transaction on or before August 24, 2017. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve—you may be declared in breach of the contract, forfeit all deposits made, and liable for additional damages incurred by the Seller and Auction Boulevard LLC.
In the event a winning bidder fails to submit the signed “Contract for Sale of Real Property” and earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. All administrative fees are non refundable. Additional default remedies are reserved by Auction Boulevard LLC and the Seller as provided in the Auction Terms & Conditions and the “Contract for Sale of Real Property”.
Bid with confidence, but please do not delay your closing!
1. By bidding, you confirm you’ve inspected the property and read and agreed to the terms of sale
in the Contract to Buy and Sell Real Property — DO NOT BID unless you have done this!
2. Auction Boulevard LLC reserves the right to remove or cancel the bids and or bidding privileges of the party at any time deemed not to be in the best interest of the seller. ?
3. All properties are sold “as-is” without any further inspections or repairs. ?
4. You must make an earnest money deposit and execute the Contract for Sale of Real Property within 24 hours of receipt of your contract package from Auction Boulevard LLC.
5. You must close on the transaction on or before August 24, 2017— there are no financing, ?inspection or other conditions, contingencies or other delays allowed. ?
6. You are not allowed possession of the property until after closing. NO EXCEPTIONS. ?
7. You are responsible for all of the closing costs except as specifically stated in the Contract to Buy and Sell Real Property. ?
8. Parcels are subject to removal from the auction in seller’s or Auction Boulevard LLC’s discretion should unforeseen circumstances arise.
9. Again, please read and review the terms and conditions of the Contract to Buy and Sell Real Property. It affects your legal rights should you be the accepted bidder..
Is this an Absolute Auction or does it require the seller to approve the winning bid? This property is being sold for the Estate of Rick Hunt through the Personal Representative, MidFirst Bank, who is motivated to sell all assets of the estate. All properties are offered subject to seller confirmation/approval of the final bid price. This method allows the seller to reserve the right to accept or decline any bid placed on the property. Seller is highly motivated to sell. The seller has elected to use the auction method to reduce their time in the market and convert the property to immediate cash. Bid with confidence!
Can I use bank financing? Yes, however, there are no contingencies or conditions to these sales (i.e. financing, appraisal, repairs or inspections). Failure to obtain financing will not excuse your obligations under the Contract to Buy and Sell Real Property. Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. Each property is being sold “as-is, where-is” with a closing deadline of August 24, 2017.
Can I use my own attorney/title company to examine title? Yes, however, the terms of the auction and contract will govern the sale, specifically the designated Settlement Agent will conduct the closing and the buyer will pay said closing fees as indicated. Buyer may seek representation from other sources at their own expense. Seller has retained Land Title Guaranty Company to issue title commitments and policies for the real property sold at this auction. Your use of another title company is at your sole cost and expense.
Am I responsible for the property before closing? No.
TERMS AND CONDITIONS
CONTRACT FOR SALE OF REAL PROPERTY: Contracts will be drawn by Holland & Hart LLP as legal counsel for the seller. Contracts are available prior to auction and/or read online at www.AuctionBlvd.com. This property is offered under the specific terms provided in the contract. The Contract to Buy and Sell Real Property is available at www.AuctionBlvd.com, located in the “Documents” section of this listing. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract to Buy and Sell Real Property, Do Not Bid!
BIDDER VERIFICATION: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Auction Boulevard will reject the registration, and bidding activity will be terminated.
TERMS: At the close of the auction, successful bidder shall execute a specific performance, no contingency, contract and shall provide a non-refundable earnest money payment, in the amount of $10,000.00 (for properties sold for $300,000.00 and under), $25,000.00 (for properties sold for $301,000.00 to $600,000.00), $40,000.00 (for properties sold for $601,000.00 to $1,000,000.00), and $50,000.00 (for properties sold for $1,000,001.00 or higher), and $100,000 (for any bidder buying multiple properties) in the form of cash, cashier's check, certified check, good personal or business check, payable and delivered to Auction Boulevard. The entirety of the remaining balance is due at closing as stipulated in the Contract to Buy and Sell Real Property.
Should the winning bidder be an online bidder, at the close of the auction a contract shall be emailed to successful bidder who shall execute the specific performance, no contingency, contract and shall provide a non-refundable earnest money payment, in the amount of $10,000.00 (for properties sold for $300,000.00 and under), $25,000.00 (for properties sold for $301,000.00 to $600,000.00), $40,000.00 (for properties sold for $601,000.00 to $1,000,000.00), and $50,000.00 (for properties sold for $1,000,001.00 or higher), and $100,000.00 (for any bidder buying multiple properties) in the form of cashier's check, certified check, good personal or business check, payable and delivered to Auction Boulevard within 24 hours of the close of the auction. The entirety of the remaining balance is due at closing as stipulated in the Contract to Buy and Sell Real Property. Purchaser shall be responsible for all wire transfer fees.
Successful bidders not executing and returning their contract with earnest money deposit within 24 hours of receiving a contract will be considered in default and charged an Auction Administrative Fee.
CONDITIONS: In the event of any dispute, the auctioneer’s decision is final. The auctioneer reserves the right to accept bids in only the increments he feels are in the best interest of the seller. Any announcements made at the start of or during the auction will supersede any printed materials or previous statements.
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: $100,000.00
Plus 10% Buyer's Premium: $10,000.00
Total Contract Price: $110,000.00
AUCTION ADMINISTRATIVE FEE: In the event a winning bidder fails to submit the signed "Contract to Buy and Sell Real Property" and deposit earnest money as provided in the pre-stipulated 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 Auction Boulevard LLC and the Seller as provided in the Auction Terms & Conditions and the "Contract to Buy and Sell Real Property". All administrative fees are non refundable.
CLOSING: Time being of the essence, this sale shall be closed on or before August 24, 2017. The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. Closing fees will be split ½ buyer, ½ seller. The purchaser will pay all other closing costs associated with this sale.
PROPERTY INSPECTIONS / SHOWINGS: There will be no open house or inspection prior to the auction. Bidders understand they are bidding based on their personal inspection of the property. If they have not inspected the property prior to the auction, they are waiving their right to inspection and are bidding at their own risk.
BROKER PARTICIPATION: Bidder understands that if they are represented by a Realtor/Real Estate Broker, that Broker must have registered bidder, stating that Broker represents bidder as his/her client, at least one day prior to the auction. Bidder understands that Broker Participation Form must be signed by both bidder, as the buyer, and by the Broker. Bidder understands that Broker or their representative must attend the auction with bidder to qualify for commission. A three percent (3%) bid price commission is available to properly registered brokers. A Broker Participation Form with complete instructions is located at the bottom of these Terms and Conditions. The Broker Participation Form must be hand carried or submitted via email to Auction Boulevard, according to the terms set forth in the Broker Participation Form. Bidder also understands that if bidder is a Broker, bidding on this property for themself, their family, or their brokerage, they do not qualify for commission.
AGENCY DISCLOSURE: In all transactions, the auctioneer is acting as agent for the seller, not as buyer's agent.
DISCLAIMER: This is a sale by a decedent’s Estate of property owned directly or indirectly by the decedent. Neither the Estate nor the Auctioneer has knowledge or experience with the property sufficient to make representations as to the condition thereof, and therefore neither the seller nor the Auctioneer make any representations as to the condition of the properties. Auctioneer is not aware of any material facts that would make the information contained in the information provided incorrect, without any duty of independent investigation. 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. Auction Boulevard LLC is not responsible for seller’s inability to close. Earnest money checks will be deposited to our trust account and credited to Buyer at closing. Buyer should perform all “due diligence” prior to bidding. No financing, inspection, title review, or other contingencies will exist on the real estate contract. Contracts will be drawn by Holland & Hart LLP as legal counsel for Seller. Contracts are available prior to auction online at www.AuctionBlvd.com. All auction properties are sold AS-IS, WHERE-IS AND WITH ALL FAULTS, in their current condition. All measurements, descriptions, and statements in any printed material, at the open houses or during the auction are approximate only. Square footage is according to assessor records. Title insurance has already been placed and is available for inspection. According to the online database of well permits maintained by the Colorado Department of Water Resources, there is a well on this property that is permitted by the Colorado State Engineer’s Office under Well Permit No. 86793 for watering of livestock. This well is not permitted to be used for a domestic water supply. There does not appear to be a permitted domestic water well located on this property. At the closing of the purchase of this property, Seller will convey to Buyer a portion of the groundwater underlying this property so that Buyer may apply to the Colorado State Engineer’s Office for a permit to construct a well to provide a domestic source of water to this property. Bidder / Buyer understands when bidding, they are bidding for a property with no domestic water supply and understands that they will need to go through the Colorado State Engineer Office for approval to construct a domestic well on the property. Seller makes no representation as to the availability or productivity of such groundwater or whether the State of Colorado will grant any needed permits for the same, and Buyer waives any claims against Seller related to the availability, productivity or legality of any water production on or for the Property. Buyer acknowledges that access to the Property is pursuant to a road crossing two other properties, which access shall be by an Access and Utility Easement Covenant.
CHOICE OF LAW: This agreement shall be construed in accordance with the laws of the State of Colorado, and any legal action or proceeding concerning this agreement shall be brought in the City and County of Denver, Colorado. The substantially prevailing party shall recover its legal fees and costs from the substantially non-prevailing party.
INCONSISTENCIES: To the extent the provisions of the Contract to Buy and Sell Real Property and the provisions hereof or in any other bidding and auction materials, the provisions of the Contract to Buy and Sell Real Property shall control.
BUYER/BIDDER BROKER PARTICIPATION RULES
A commission will be paid based on the following schedule to any properly licensed real estate broker whose Buyer/Bidder is the successful purchaser for this property and who actually closes and pays the Total Contract Sale Price for this property.
THREE PERCENT (3%) COMMISSION WILL BE PAID TO THE BROKER ON THE SUCCESSFUL HIGH BID. THE MAXIMUM BROKER PARTICIPATION WILL NOT EXCEED THREE PERCENT (3%) OF THE HIGH BID.
TO EARN THE FOREGOING APPLICABLE COMMISSION, BUYER BROKER MUST: REGISTER HIS/HER BUYER/BIDDER BY FILLING OUT THE BROKER REGISTRATION FORM, ATTACHED HERETO OR AVAILABLE UPON REQUEST, IN FULL, WHICH MUST BE EMAILED TO AUCTION BOULEVARD, TO BE RECEIVED NO LATER THAN 24 HOURS PRIOR TO THE AUCTION DATE. BROKER REGISTRATION FORMS SENT DIRECTLY TO SELLER WILL NOT BE HONORED.
1. BROKER must show the property in person to his/her Buyer/Bidder.
2. BROKER information must be completed even if Buyer/Bidder is bidding online
3. BROKER agrees that BROKER will not claim any exceptions to the foregoing procedures unless made in writing and signed by the SELLER.
4. BROKER agrees that no oral registration will qualify BROKER for commission.
5. BROKER agrees that BROKER will not be entitled to a commission, if BROKER or any member of BROKER’S family or firm participates, as a principal at the Auction. BROKER shall give an affidavit to this effect, if requested.
6. BROKER may only register one Buyer/Bidder for each auction event.
7. BROKER agrees that BROKER’S commission will only be earned and due upon final closing of the purchase by his/her Buyer/Bidder with all consideration paid in full.
8. BROKER agrees that commission will ONLY be paid at time of closing and will be disbursed by Title Company.
9. BROKER agrees that he/she shall hold harmless indemnify Auction Boulevard including its reasonable attorney’s fees, from any and all claims with regard to such commission.
10. Register prospective buyers for specific properties, prior to any inspection of the property by the buyer. Broker must complete and submit the entire registration, and email back to doug@AuctionBlvd.com, or by mail, or drop off at our office @ 912 Kimbark Street, Longmont, CO 80501
11. Colorado Law requires a copy of Buyer Broker Agreement to be attached.
No broker will be recognized on a prospect who has previously contacted Seller or Auction Boulevard or has been previously contacted by the Seller or Auction Boulevard. A complete registration file on all prospects will be maintained. All registrations accepted by Auction Boulevard will be acknowledged via email. There can be NO EXCEPTIONS to this procedure and no oral registrations will be accepted.
BROKER REGISTRATION FORM
BUYER OFFERS THE FOLLOWING OPENING BID: $_________________
Sebae Data Solutions, Inc.
SERVICE TERMS AND CONDITIONS
ACCEPTANCE OF TERMS
Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap
USE AND REGISTRATION
Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).
DESCRIPTIONS OF SERVICE
Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections.
HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION
Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.
The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.
INTERNET ABSENTEE BIDDING
Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction.
Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live".
Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid.
When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels).
The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions.
Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration.
Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer
Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms.
The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal.
Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement.
The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers.
Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers.
THE WINNING BID
The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid.
NOTICE OF END OF SALE, PAYMENT & SHIPPING
After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions.
BUYER'S PREMIUM, TAXES AND DUTIES
If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it.
All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose.
SPECIAL ADMONITIONS FOR INTERNATIONAL USE
Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that:
a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected.
c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC.
LIMITATION OF LIABILITY
You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service.
EXCLUSIONS AND LIMITATIONS
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you.
You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.
You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items.
The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.