AUCTION TERMS

Minerals – All Mineral Interests Owned by the Seller, if Any, will be Conveyed to the Buyer. Taxes – Real Estate Taxes for the current tax year will be paid by Seller.

Conditions – This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an AS IS-WHERE IS basis with no warranties or guarantees, expressed or implied, by the Seller, National Land Realty or Boyd Harris Companies, Inc./Boyd Harris Realtors and Auctioneers, nor any associated marketing firm.

Possession – Possession shall be given at Closing, on December 20, 2022, subject to any leases, or at such other date as may be agreed upon.

Earnest Payment – An earnest money payment in the amount of 10% of the final auction bid price/contract price, shall be due upon execution of the sales contract. This will be held by Accurate Land Title. The payment may be in the form of a personal check, cashier’s check, or wire transfer, but must be negotiable funds.

Contract/Title Insurance - Immediately upon conclusion of the auction, the High Bidder will enter in to a real estate contract and deposit with Accurate Land Title, the required earnest money payment. The Seller will provide an Owner’s Policy of Title Insurance in the amount of the contract price. The cost of the title insurance will be paid by the Seller. The cost of any escrow closing services will be paid equally by Buyer and Seller.

Cash Sale – The auction is not contingent upon the Buyer’s financing. While a lender may be involved, the Buyer must have those arrangements in place prior to bidding.

Closing – The closing date will be December 20, 2022, or such other date as may be agreeable to all parties. The balance of the purchase price will be due in full at that time in guaranteed funds, bank draft, or wire transfer to the closing agent/title company.

Buyer Premium/Represented Buyer – A 2.5% Buyer’s Premium will be added to the final bid price and included in the total real estate sales contract price that is due and payable from the Buyer(s). This will only be charged to represented buyers and will serve as compensation to the Buyer’s Agent.

Broker Co-Operation – National Land Realty, Boyd Harris Companies, Inc., and Boyd Harris Realtors & Auctioneers is offering full brokerage cooperation on this auction. The Buyer’s Premium will serve as compensation to the Buyer’s Agent. Contact auction company/listing agent for details on registering a Buyer.

Sale Method – The property will be offered in one parcel on whole dollar bids. All bids are open for advancement until the Auctioneer announces that the bidding has ceased and the real estate is sold. Bidding increments are solely at the discretion of the Auctioneer. Absentee or telephone bids may be accepted but are solely at the discretion of the Auctioneer. All decisions of the Auctioneer are final.

Approval of Bids – The final sale is subject to the approval of the Seller. The Seller may accept, reject, or negotiate, the final bid.

Agency – National Land Realty, Boyd Harris Companies, Inc., and Boyd Harris Realtors/Auctioneers, are acting as Seller’s Brokers.

Announcements – Information provided herein was obtained from sources deemed reliable but National Land Realty, Boyd Harris Companies, Inc. and/or Boyd Harris Realtors/Auctioneers, nor the Seller, makes any guarantees or warranties as to its accuracy. All potential bidders are encouraged to inspect the property, its condition, and to rely on their own conclusions. It is strongly recommended that potential bidders make such inquiries and inspections PRIOR to Auction Day. All sketches, dimensions, and acreages are approximate or “more or less”. ANY ANNOUNCEMENTS made on auction day by National Land Realty, Boyd Harris Companies, Inc. and/or Boyd Harris Realtors/Auctioneers will take precedence over any prior written, published, or verbal information provided or stated. National Land Realty, Boyd Harris Companies, Inc. and/or Boyd Harris Realtors/ Auctioneers reserve the right to preclude anyone from bidding if there is any question as to the potential Bidder/ Buyer’s credentials, fitness to bid, or ability to perform.

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