Terms & Conditions
ALL PROPERTIES ARE SUBJECT TO PRIOR SALE
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 for each specific property. 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!
Auction End Times: All Rowell Online Only Real Estate Auctions are timed events. Auctions with multiple properties have staggered end times with 5 minutes between each ending.
Example: An auction scheduled to end at 10:00 a.m. will close the first property at 10:00 a.m., the second at 10:05 a.m., etc. Rowell Online Only Real Estate Auctions also 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.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Rowell will reject the registration, and bidding activity will be terminated.
Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Rowell Auctions. Successful bidders will deposit $2,500.00 or 5% of the purchase price (whichever is greater) per property in the form of cashier's check or wire transfer with the on-site broker or settlement agent (whichever is applicable) listed for the specific property. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 5% 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 5% Buyer's Premium: $5,000
Total Contract Price: $105,000
Contracts: Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to the onsite broker within 48 hours of the end of the auction.
Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.
This property is offered subject to the final acceptance and confirmation of the seller.
Time being of the essence, these sales shall be closed on or before March 3, 2010. 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. Regardless of local custom, requirements or practice, the Purchaser shall pay any and all realty transfer taxes due as a result of the conveyance of the Property. The Purchaser shall pay all other costs and fees incurred in the transfer of the Property, including cost of any survey, title policy, escrow or closing fees and lender required fees, except as expressly assumed by the Seller. Seller to pay for the owner's title policy and lender's title policy in the amount of the purchase price and closing shall take place with Seller's closing agent.
Please contact property specific cooperating brokers for open house dates and times or to arrange a private showing.
Broker Participation: A one percent (1%) bid price commission or $400.00 minimum 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 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. Note: Under Title X, the purchaser of a single family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. The period for the inspection begins January 16 through January 25, 2010. All bidders must sign a waiver of the 10 day post sale inspection period.