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, in the pre-bid package located from within the files tab. 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.
Example: Rowell Online Only Real Estate Auctions has 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 15% of contract price per property in the form of cashier’s check or wire transfer to Rowell Auctions. 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 Rowell Auctions 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 15% of contract price per property 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".
Time being of the essence, these sales shall be closed on or before November 29, 2011. The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. The purchaser will pay all other closing costs associated with this sale.
Broker Participation: A two percent (2%) bid price commission 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. At auctions with reserve, the seller and/or auctioneer reserves the right to bid. †On all other auctions, auctioneer reserves the right to bid on auctioneer’s behalf when permitted by law.
† 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.