Deposit: A non-refundable deposit of 10% is placed in escrow the day of the auction and upon the execution of the purchase agreement. Deposit may be in the form of Cashiers check, personal check or cash.
Possession: Closing will take place within 30 days of the auction closing. Seller shall provide an owner's title policy to Buyer upon closing from a title company selected by Seller. Buyer & Seller will be responsible for customary closing costs issued by the title company.
Minerals: Selling Surface Rights Only. NO mineral interest will be conveyed with the sale of the property.
Easements: The sale of this property is subject to any and all easements of record.
Real Estate Taxes: Real Estate taxes shall be prorated to date of possession.
Purchase Agreement: The successful bidder shall execute a purchase agreement at the conclusion of the auction after being declared the winning bidder by the auctioneer. Please Note: The purchase agreement will offer no contingencies, including but not limited to financing.
Terms: The property is being sold AS IS, WHERE IS without warranty or guarantee of any kind. Each potential buyer is encouraged to perform his/her own independent inspections, investigations, inquiries and due diligence concerning the described property.
Agency Disclosure: Josh Bellamy / Mayo Auction & Realty is the selling agent and all parties employed by or associated with Mayo Auction & Realty represent the Seller in this transaction.
Financing: Terms for this auction are cash. The seller is offering no other terms or contingencies. Therefore the buyer may NOT purchase this real estate subject to loan approval.
Backup Bids: In the rare event that the winning bidder is unable to close on this transaction, we do accept backup bids. If you are not the winning bidder and would like to make a backup bid. Please call our office for the necessary paper work.
Warranty and Condition of Items Sold: All items are sold 'AS IS, WHERE IS, with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the condition of the items and bid accordingly. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item please bid accordingly.
Catalog Discrepancies: You are bidding on the described item not the photograph, occasionally the wrong photo may be displayed, always read the item description.
The auctioneer reserves the right to add or remove items form the auction; split or combine lots; add minimum bids or reserve prices; cancel, suspend, extend or reschedule an individual item or auction event. Announcements the day of the auction take precedence over previously stated or published material.