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FOR SUPPLEMENTAL INFORMATION CALL 1-800-845-3524
Writing the Sales Contract
In the Contract Area on Auction Day, you will sign the sales
contract and make an earnest money deposit of ten percent
(10%) of your bid price, but in no event less than the amount
of your Certified Funds for each property you purchase.
Your Certified Funds will be deposited as a portion of your
earnest money deposit. The balance of the earnest money
deposit may be by personal, or company, check. In addition
to the Purchase and Sale Agreement, you will be required
to sign a Buyer Acknowledgement Form verifying that you
have inspected the property and are purchasing it in its “as
is” condition. No allowances will be made for contingencies.
Sample copies of contract documents are available in each
Supplemental Information Package. The sales contract is a
binding contract.
FINANCING
Many Sellers offer financing subject to approval of Buyers’
credit. See individual property descriptions for details.
COOPERATING BROKERS
Broker cooperation is invited. A commission ranging from
1% to 2% will be paid to the real estate agent whose Buyer
closes on the purchase of any Auction Property. The real
estate agent must be a broker currently licensed by his/
her state of residence or a salesperson licensed under such
broker. Cooperating broker commissions will be paid upon
close of escrow. Cooperating brokers will not share in any
payment of liquidated damages.
Buyers must register their real estate agent on the Auction
Registration Form or on the Sealed Bid Form. For the Oral
Auction, the Registration Form should be received by the
Auction Information Office at least three days prior to the
Auction. No Auction Day Registration of real estate agents
will be accepted.
For the Oral Auction, registered real estate agents must
attend the Auction with their Buyer and must accompany
their Buyer into the contract area if their Buyer is the
successful high bidder.
No real estate agent will be recognized for a Buyer where
that Buyer has previously contacted, or been contacted by,
the Seller, or Realty Marketing/Northwest, concerning the
Auction Property purchased. No commission will be paid
to any real estate agent participating as a principal in the
purchase of the property. The commission will be earned
and paid upon the full and final closing by the Buyer on
the conveyance of the property and the receipt of the full
purchase price by Seller. No exceptions to this procedure
will be made and no oral registrations will be accepted.
CLOSING AND COSTS
All sales must close within 30 to 45 days of the Auction,
unless extended by the Seller, in writing. Prior to making
a bid, refer to the Supplemental Information Package with
regard to customary closing costs including, but not limited
to, recording fees, normal prorations, title fees, transfer and/
or excise taxes (if applicable), sales tax on personal property
(if applicable), local improvements and irrigation district
assessments (if applicable), and document preparation fees.
Buyers will be responsible for any real estate compensation
taxes or rollback taxes and penalties as a result of a change
in use or designation of the property including, but not
limited to, a change from open space, agriculture, forest
land or recreation.
For the properties being offered for sale with No Minimum
Bid, the Buyer will be required to pay all customary closing
costs, including, but not limited to, title insurance premiums
and sales tax thereon (if any), full escrow fees, back taxes
and penalties (if any), local improvement and irrigation
district assessments (if any), and state excise taxes.
ADDITIONAL CONDITIONS
(A) No claimwill be considered for allowance, adjustment or
rescission based upon failure of the property to correspond
to any particular expectation or standard (except the
Preliminary Title Report).
(B) No bidder shall offer an advance upon the previous bid
of less than the amount the Auctioneer directs. In the event
of a dispute between bidders, the Auctioneer will make the
sole and final decision to either accept the final bid or to re-
offer and resell the property in dispute. The Auction will be
recorded, and if any dispute arises following the Auction,
the Auctioneer’s records will be conclusive in all respects.
(C) Title insurance is available for each property, ensuring
the title of such property to be in fee simple, subject to
no encumbrances except current taxes and assessments,
easements, rights of way, reservations, covenants,
conditions and restrictions of record, purchase money
financing and printed exceptions in the standard form
Owner’s Title Policy. A copy of the Preliminary Title Report
for each property may be inspected prior to the Auction.
(D) To the extent permitted by law, properties will be sold
“As Is”. Prospective buyers should examine the property
and all supporting documentation carefully. Each bidder is
responsible for evaluating the property and shall not rely
on the Seller or sales agents. All buyers will take possession
at the close of escrow.
(E) Sizes and square footages set forth for the properties
are approximations only, based on the best information
available, but the actual sizes and square footages may be
different. All sketch plans are conceptual in nature and
neither Seller nor its agents have submitted plans or made
applications to any public agency.
(F) Agency Disclosure. The selling and listing agent,
Realty Marketing/Northwest, represents the Seller in these
transactions.
(G) Seller and Sellers’ Agents reserve the right to refuse
admittance to or expel anyone from the Auction premises
for interference with Auction activities, causing a nuisance,
canvassing or other reasons.
(H) Seller has the right to postpone or cancel the Auction
in whole or in part, at its sole discretion, and to modify or
add any terms and conditions of sale and to announce such
modifications or additional conditions either prior to, or at,
the Auction.
(I) Offer void where prohibited. Catalog will not be mailed
to residents of any state in which this offering is not in
compliance with the real estate laws or other laws of that
state.
(J) The information contained here has been gathered
from sources deemed reliable; however, Realty Marketing/
Northwest makes no warranties expressed or implied as to
the accuracy of the information contained here.
Need Help?
Realty Marketing/Northwest prides itself on the quality of
its service. If at any time you need special assistance, please
contact Steve Dwelle at (800) 845-3524 or (503) 228-3248.
