Terms: 10% nonrefundable down payment made the day of auction with the balance due at closing. No financing or other contingencies. Any required inspections must be completed prior to bidding. All information contained herein derived from sources deemed reliable but not warranted. Sold as is with no warranties written or implied. Property will be sold free and clear of any & all liens and encumbrances. 45 days to close. 10% buyer’s premium will be added to determine the final contract price.
Successful bidder will be emailed a contract to be executed and returned to Kaufman Realty & Auctions. Successful bidders will deposit 10% of the Contract price in the form of cashier’s check or wire transfer to Kaufman Realty & Auctions. The entirety of the remaining balance is due at closing or within 45 days (whichever is first). Instructions for wire transfer and /or cashier’s check transmittal will be sent by e-mail to the successful bidder. Purchaser shall be responsible for all wire transfer fees.
Contract Documents will be sent by e-mail to the successful bidder must execute and fax or email back to Kaufman Auctions within 48 hours of the end of the auction.
Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.
At the close of bidding. The system is set to add a 5 minute extension when a bid is placed within the last 5 minutes and will do so until no one bids during the allotted time.
Buyers Premium Example:
Bid Price: $100,000
Plus 10% Buyers Premium: $10,000
Total Contract Price: $110,000
Down Payment $11,000