Memorandum of Sale: This property is offered under the specific terms provided in the Memorandum of Sale. The Memorandum of Sale is available at www.rowellauctions.com. Please read and review thoroughly prior to bidding on this property. If you have not read and reviewed the Memorandum of Sale, Do Not Bid!
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.
Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Example: Rowell Auctions, Inc. Online Real Estate Auctions have an auto extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes in addition to the time remaining on the auction clock at the time the bid was placed. Example: If an auction scheduled to end at 4:00 p.m. receives a bid at 3:59 p.m., the close time of the auction automatically extends to 4:05 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 5-minute time frame. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Rowell Auctions, Inc. reserves the right reject the registration, and bidding activity is subject to termination.
Terms: At the close of the auction, successful bidders will be emailed the Memorandum of Sale package to execute and return to Rowell Auctions, Inc. Successful bidders will deposit $5,000.00 as earnest money in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the Memorandum of Sale package. The entirety of the remaining balance is due at closing as stipulated in the “Memorandum of Sale”. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final Memorandum of Sale price.
10% Buyer's Premium Example:
Bid Price: $50,000
Plus 10% Buyer's Premium: $5,000
Total Memorandum of Sale Price: $55,000
Memorandum of Sale: Memorandum of Sale Package will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute, and email, fax, or hand deliver the package back to Rowell Auctions, Inc within 24 hours of receipt. Successful high bidders not executing and returning their Memorandum of Sale with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed "Memorandum of Sale" 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 Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the "Memorandum of Sale". All administrative fees are nonrefundable.
Closing: Time being of the essence, these sales shall be closed on or before September 30, 2019. The purchaser will pay for all closing costs associated with the transaction. Please refer to the Memorandum of Sale, it is the document that governs the sale.
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. 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 the Seller’s behalf. On all 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 bidders 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.
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Absolute Auction