Overall Terms: 10% Buyer’s Premium added to all sales!
Terms Personal Property: All items sell “as is, where is” with no guarantees or warranties express or implied. All purchases are considered verified by the purchaser as to grade and authenticity. The purchaser will rely solely on his/her judgment in any purchase.
Personal Property Payment: The successful Purchaser(s) will make payment in full at the close of the auction in the form of cash, cashier’s check, or credit card. A 10% Buyer’s Premium will be added to the bid price to obtain the contract price. Sales tax will be charged on all applicable purchases. Dealers buying for resale may be exempt from paying sales tax if the dealer has the sales tax number and signs the sales tax exemption form.
Personal Property Removal: Removal of purchases will be Saturday July 25 and Sunday, July 26 from 10:00 to 4:00 pm. A paid invoice must be presented at the time of pickup.
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 10 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 10:10 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.
Real Estate Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to the onsite broker along with their earnest money deposit. Successful bidders will deposit $25,000.00 per property. Earnest money deposits must be in the form of cashier’s check or wire transfer with the on-site broker 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 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
Plus 10% Buyer’s Premium: $10,000
Total Contract Price: $110,000
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.
Auction Bid Default: 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. Additional default remedies are reserved by Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the “Contract for Sale of Real Property”.
Closings: Time being of the essence, this sale shall be closed on or before Thursday August 20, 2009. The seller will pay for one-half of the title insurance fee for an owner’s title policy. The purchaser will pay all other closing costs associated with this sale including State of Florida Documentary Stamps.
Open House: Representatives will be onsite and Saturday, July 11 from 1:00 to 4:00 pm and Saturday, July 18 from 1:00 to 4:00 pm for inspections. To inspect the real estate at other times, please contact Richard Viaro, RCV Properties, Inc at 352-861-5895.
Broker Participation: A two percent (2%) bid price commission will be paid to any properly registered broker whose prospect purchases real estate at the auction and closes in full. Broker must be licensed in Florida and must register their prospect 24 hours prior to client submitting a bid Broker registration forms are available online and should be faxed to (229) 890-9567.
Agency Disclosure: In all transactions, the auctioneer is acting as agent for the seller, not as buyer’s agent.
Radon Gas – Notice to Prospective Purchaser: Radon is a naturally occurring gas that when it has accumulated in a building in sufficient quantities may present health risk to persons who are exposed to it over time. Levels of Radon that exceed Federal and State guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your County Public Health Unit. Pursuant to 404-056(8), Florida Statutes.
Compensation: The Purchaser acknowledges that Rowell Realty & Auction Co., Inc. is being paid by the Seller, Pursuant to Rule 2-13.003(2), Florida Administrative Code.
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
