Additional Notes, Please Read Carefully
PLEASE DOWNLOAD AND READ THE TERMS AND CONDITIONS for the REAL ESTATE AUCTION BEFORE REGISTERING TO BID FOR THIS AUCTION
AUCTION CLOSING DATE: June 7, beginning at 1:00 pm.
PROPERTY TOUR & INSPECTION: May 25, 1:00 pm – 7:00 pm
ONLINE BIDDING TERMS AND CONDITIONS
If you want to bid in this online auction, you will first have to certify that you have read, understood, and agreed to these Terms and Conditions. Such certification will function as your legal and binding electronic signature. If you choose to make this certification, the Terms and Conditions will become binding both on you and on the Auctioneer, and all parties will be expected to abide by the Terms and Conditions if any issues arise in connection with this sale.
Please read these Terms and Conditions carefully! They contain important information about the online auction itself and your rights and responsibilities as a bidder.
1. Registration: To gain access to the Auctioneer’s bidding system, you will need to register and obtain a bidder number. You must be eighteen years old or older to register. You agree that all information that you provide during the registration process will be true and accurate. You will be banned from participation in the Auctioneer’s auctions indefinitely should you provide any false information during the registration process.
2. Credit Card: In order to obtain a bidder number, we must have a working Visa or MasterCard associated with your account.
3. Bidder’s Duty to Update Information: Whether you are a new or returning bidder, you agree that if any of the information associated with your bidder number – including contact information and credit card information – changes at any time prior to, during, or after this sale, you will notify the Auctioneer of the change by updating your bidder profile.
4. Conduct of Sale: All deposits, bids, and credits in this sale will be made in United States Dollars. You agree not to use any hardware, software, program, or system that would interfere with the orderly conduct of this sale. You further agree not to copy, reproduce, or publicly display any content from the Auctioneer’s website without first obtaining written permission from the Auctioneer.
5. Bidder’s Duty to Inspect and Investigate: You acknowledge that the Auctioneer is providing you with the opportunity to inspect the real estate being offered for sale in this auction. The Auctioneer strongly encourages you to attend the scheduled inspection for this auction. If you choose not to attend the scheduled inspection and are in doubt about the condition, completeness or suitability of the real estate, please bid accordingly.
6. WARRANTY AND CONDITION OF ITEMS SOLD: REAL ESTATE IS BEING SOLD AS IS, WHERE IS, WITH ALL FAULTS, AND WITH NO EXPRESS OR IMPLIED WARRANTIES. NO ACTION TAKEN BY THE AUCTIONEER OR ITS AGENTS IS INTENDED TO CREATE ANY EXPRESS OR IMPLIED WARRANY AS TO ANY LOT OR ITEM IN THIS SALE. THE AUCTIONEER SPECIFICALLY DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE, CONFORMITY WITH ENVIRONMENTAL LAWS OR REQUIREMENTS, NON-INFRINGEMENT, ACCURACY, TITLE, OR ANY OTHER STATUTORY OR COMMON LAW WARRANTY. IT IS BELIEVED THAT ALL DESCRIPTIONS ARE ACCURATE DESCRIPTIONS ARE NOT GUARAUNTEED.
7. When You Have Been Outbid: If you are outbid during the course of this auction, you will be notified by email. You can review your bids at any time using the Auctioneer’s “Review Bids” feature; items on which you have been outbid will be clearly marked.
8. Reporting Bidding Errors: You should carefully review every bid you choose to make before submitting that bid. The Auctioneer will not automatically assume that any bid – even a bid that increases your own, lower bid – was made in error. Many bidders routinely increase their own bids to price an item out of the reach of other bidders. If you mistakenly increase your own bid at any time during the auction, or make some other bidding error (e.g. placing your bidder number in the price field), you must immediately contact the Auctioneer by using the contact form on the website. Reports of bidding errors must be made via web form; phone reports will not be accommodated.
9. Timeliness of Bidding Error Reports: If you make a bidding error during this auction, you must identify and report the error before the auction begins to close. The Auctioneer will not undo bidding errors reported after the auction has begun to close.
10. Bidder’s Duty to Report Fraud: You are responsible for all bids made from your account. If you believe that an unauthorized person has gained access to your account, you must notify the Auctioneer immediately by sending an e-mail to firstname.lastname@example.org. You must also report the incident to the relevant law enforcement authorities and send the Auctioneer a copy of any resulting police report. You understand and agree that if you do not promptly report any suspected fraud to the Auctioneer and to the relevant law enforcement authorities, you will be held personally responsible for all purchases made using your account and bidder number.
11. Changes in Circumstance: All aspects of this auction are subject to change without notice. The Auctioneer reserves the right to – at any time – (1) add or remove items from the auction, (2) split or combine lots, (3) add minimum bids or reserve prices, (4) cancel, suspend, extend or reschedule the sale of an individual item, lot, auction, and/or auction event, (5) make changes to the auction’s closing, inspection, or removal times, or (6) take any other action the Auctioneer deems necessary to effect the fair conduct of this sale or protection of buyers’, sellers’, or other parties’ interests.
12. Closing: the Auctioneer’s online auctions are designed to mimic traditional “live” actions. For this reason, this auction will have a staggered, dynamic closing.
Dynamic Closing: The closing time of an item is automatically extended an additional five minutes whenever a bid is placed within the four minutes leading up to an item’s scheduled closing time. The closing time of the item will extend AGAIN for an additonal five minutes each time a bid is placed during any five minute extended period.
13. Winning Bids: If you place a bid in this sale, and your bid is determined to be the winning bid, you become obligated to pay for the item that you have won at the price you gave as your bid.
14. Payment: Please download and read the terms and conditions of the auction using the link above for payment details and arrangements for winning online bidders.
15. Buyer’s Premium: An 8% buyer’s premium will be added to the final high bid for this auction. This means that if your winning bids add up to $200,000.00 the final sales price of the real estate will be listed as $216,000.00 on the contract.
16. Claims and Choice of Venue: Any claim or controversy out of or relating to these Terms and Conditions, or to any breach thereof, will be settled either (1) in the City of Salem, Virginia’s Small Claims Court, if the claim in question amounts to less than $5,000, or (2) by means of arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, if the claim in question amounts to more than $5,000. In the event of arbitration, judgments upon the award rendered by the arbitrator may be entered by any court having jurisdiction. You agree that all claims will be litigated or arbitrated on an individual basis, and will not be consolidated with any claim made by another party. Venue in every case will be The City of Salem, Virginia. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should any party file an action contrary to this paragraph, the counterparty may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs.
17. Interim or Preliminary Relief: Notwithstanding the contents of Paragraph 16 of these Terms and Conditions, you agree that the Auctioneer may seek interim or preliminary relief in a court having jurisdiction in order to protect any rights or property that the Auctioneer may have pending arbitration or litigation.
18. Liability: In all cases, the Auctioneer’s liability, and the liability of the seller of the items in this auction, will be limited to the refund of your purchase price. The Auctioneer will not be liable for any amount in connection with the postponement or cancellation of this auction, or the withdrawal of any item or lot from this auction. In no event will the Auctioneer be liable for lost profits or any special, incidental, or consequential damages arising out of or in connection with this auction or any related sale or transaction.
No Liability for the Acts of Third Parties: The Auctioneer is not responsible for any action taken by any seller, bidder, or other third party before, during, or after this auction.
No Liability for Site Malfunction: You understand that this auction is online-only, and so relies on devices and programs that may malfunction without warning. You agree that the Auctioneer will not be liable for any error or inconvenience that may be the result of such a malfunction. You further understand and agree that the Auctioneer may void or suspend any sale, or resell the real estate, if the Auctioneer determines a transaction to have been affected by any site malfunction.
19. Indemnification: You agree to indemnify, defend, and hold harmless the Auctioneer and its employees, officers, owners, affiliates, agents, and representatives from and against any claims, losses, damages, liabilities, judgments, fees, costs, and expenses, including reasonable legal fees and costs, related to, arising from, or associated with you, your agents or representatives – including, but not limited to, personal injury or property damage caused at any sales site or during removal or transportation of items won at auction, any dispute with another bidder, or any violation of these Terms and Conditions and the Terms and Conditions of the auction as provided in the link above.
20. Limitations: These Terms and Conditions do not – nor are they intended to – create any agency-, partnership-, joint venture-, employer-employee-, or franchisor-franchisee relationship. These Terms and Conditions cannot be altered except in writing by the Auctioneer.
21. Severability: If any term, provision, paragraph, condition, or other portion of this agreement – or the application of these to any person, place, or circumstance – is held to be invalid, unenforceable, or void, the remainder of this agreement and such term, provision, covenant or condition as applied to other persons, places and circumstances will remain in full force and effect.
22. Governing Law: These Terms and Conditions will be governed by and construed under the laws of the Commonwealth of Virginia.
23. Additional Terms: These Terms and Conditions are applicable to the online bidding process and are supplemental to the Terms and Conditions of the auction as provided in the link above.