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TERMS AND CONDITIONS OF AUCTION #1401
REALTY MARKETING/NORTHWEST
AUCTION INFORMATION OFFICE
Corporate Office
522 SW Fifth Avenue, Suite 1250
Portland, Oregon 97204
Phones (during regular business hours -
8:30 AM to 5:00 PM Pacific Time):
Portland Metro Area
(503) 228 3248
Toll Free
(800) 845-3524
Facsimile
(503) 242-1814
Email
SUPPLEMENTAL INFORMATION PACKAGES, with BID DOCUMENTS
Additional detailed information is available for each property. Supplemental
Information Packages include all pertinent data provided by the Seller. To
request supplemental information, contact the Auction Information Office at
800-845-3524 or email
.
SEALED BID DUE DATE
Sealed Bids must be received no later than 5:00 p.m., Friday, March 28, 2014.
BID PROCESS
Sealed bids must be submitted to Realty Marketing/Northwest on the Seller
Bid Form no later than 5:00 p.m. Pacific Time March 28, 2014. Bids must be
accompanied by a signed earnest money agreement and a certified or cashiers
check, in the amount of 10% of the bid amount, made payable to Realty
Marketing/ Northwest Client Trust Account (RMNW CTA) as earnest money
deposit. Due diligence must be completed prior to bid submission. Bidders
will be notified of acceptance, or rejection, of bids no later than April 4, 2014.
Unsuccessful Bidders’ earnest money deposits will be returned within three (3)
business days of Seller’s rejection.
Earnest money deposit from the successful Bidder will be considered earned
and become non-refundable liquidated damages in the event of Buyer default.
PUBLISHED RESERVE PRICES
The properties are being offered with published reserve prices, which is the
Seller’s minimum selling price. The Seller is committed to sell the property to
the high bidder at, or above, the published reserve price.
FINANCING
None – All Cash
COOPERATING BROKERS
Broker cooperation is invited. A commission of 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.
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
All sales must close within 45 days of Seller’s acceptance, unless extended by
the Seller, in writing.
CONDITIONS OF SALE
• Properties to be sold with a covenant restricting the timber harvested from
the property from being exported.
• Seller is not responsible for any bidder’s failure or inability to inspect any
Parcel.
• None of the Parcels have been surveyed. The acreages used for the sale have
been estimated through GIS mapping. Seller has made every effort to provide a
reasonably accurate size measurement for each Parcel, but is not responsible for
inaccuracies in the size of any Parcel. Similarly, Seller has relied on a number
of sources for other information provided in connection with the Parcel and
makes no guarantee or warranties for the accuracy of this information.
• Seller will not provide title insurance for any of the Parcels offered for sale.
• Title to each Parcel will be conveyed by statutory bargain and sale deed,
in fee simple, EXCEPTING subsurface minerals and geothermal rights, which
will be retained by Seller.
• The buyer will be responsible for all closing costs, including but not limited
to all fees for title insurance (if desired), closing fees, recording fees, handling
of the financing payments, deed and document preparation fees.
• Seller has not conducted, nor does it intend to conduct, any environmental
site review (Phase 1 or otherwise) on the offered Parcels.
ADDITIONAL CONDITIONS
(A) No claim will be considered for allowance, adjustment or rescission based
on failure of the property to correspond to any particular expectation or
standard, other than the Preliminary Title Report.
(B) Title insurance is available for each property at Buyers sole cost and
expense, 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.
(C) 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.
(D) Sizes set forth for the properties are approximations only, based on the best
information available, but the actual sizes may be different.
(E) Agency Disclosure. The selling and listing agent, Realty Marketing/
Northwest, represents the Seller in these transactions.
(F) 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.
(G) 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.
(H) The information contained here has been gathered from sources deemed
reliable; however, RealtyMarketing/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 assistance please contact John Rosenthal, President, at (800) 845-
3524 or (503) 228-3248.
Aerial Photography by Bergman Photographic Services, Inc.
Graphic Design by Inspiration Point
Pre-Press Production and Printing by Bridgetown Printing Co.
Website Design by EmpriseMedia
Editing by Marti Cohn
