Spring Estates Auction - Session 2

1. Agreement: By placing a bid in this auction, Buyer agrees to these Terms and Conditions. 2. Refunds: All Sales are Final. No refunds are given under any circumstances. 3. Warranties and Representations: All property is sold AS IS. Ahlers & Ogletree, Inc., for itself and as agent for the seller, makes no warranties or representations of any kind with respect to any Lot. While we make all efforts to be accurate, Buyer agrees that in no event shall Ahlers & Ogletree, Inc. be responsible for the correctness, description, genuineness, authorship, attribution, provenance, period, culture, source, origin, value, or condition of any Lot. Nothing being said or done by Ahlers & Ogletree, Inc. shall be deemed a warranty of representation or an assumption of liability by Ahlers & Ogletree, Inc. Disputes on items must be filed within three (3) days of an item?s receipt, or twenty-five (25) days of auction completion, whichever is sooner. Disputes will not be investigated beyond these timeframes and transactions will be considered complete. 4. Real Estate: Buyer and Seller acknowledge that they have not relied on any advice, representations, or statement by Ahlers & Ogletree, Inc. or Real Estate Agent, other than what is expressly included in these Terms and Conditions, and shall not assert and/or waive any claims against Ahlers & Ogletree, Inc. or Real Estate Agent, involving the same. Buyer and Seller agree that Ahlers & Ogletree, Inc. shall not be responsible to advise Buyer and Seller on any matter including, but not limited to, the following: any matter which could have been revealed through a survey, title search, or inspection of property; the condition of the property, any portion thereof, or any item therein; building products, construction, and repair techniques; the necessity or cost of any repairs to the property; mold, hazardous or toxic materials/substances; termites and other wood-destroying organisms; lead-based paint; all property is sold as-is, where-is, and there are no warranties of or by Ahlers & Ogletree, Inc. expressed herein; the availability and cost of utilities or community amenities; the zoning flood plain or wetlands; the tax or legal consequences of this Agreement and transaction; the appraised or future value of property; any existing conditions which may affect the property; the terms, conditions, and availability of financing; the uses and zoning of the property, whether permitted or proposed. Buyer and Seller acknowledge that Ahlers & Ogletree, Inc. are not experts with respect to the above matters and that, if any of these matters or any other matters are of concern to them, they should seek independent, expert advice relative thereto. Buyer and Seller acknowledge that Ahlers & Ogletree, Inc. shall not be responsible to monitor or supervise any portion of any construction or repairs to property, and that such task clearly falls outside the scope of Ahlers & Ogletree, Inc. - In addition to all of the above, real estate obligations are governed by the Purchase Agreement. The Purchase Agreement is available to potential buyers prior to auction. - Real Property may be sold as an individual parcel or an assemblage at the discretion of Ahlers & Ogletree, Inc. - Current owner(s) may occupy existing homes for up to 90 days after the auction. 5. Bid Discrepancies: In case of any discrepancy, from any source, the auctioneer?s record is the official record of the sale. In case of any tie bids, the auctioneer?s ruling is final. Ahlers & Ogletree, Inc. will have sole and absolute discretion to determine who the successful bidder is and/or may withdraw the Lot or reoffer the Lot for sale, in the event of a dispute. 6. Shipping: Ahlers & Ogletree, Inc. does not provide shipping services at this time. We are happy to provide information about local shippers who can assist you with shipping. Shipping arrangements are solely the responsibility of the buyer. 7. Payment and Pick-Up Policy: Buyer will receive an invoice within three (3) business days after the auction. It is the responsibility of the Buyer to contact Ahlers & Ogletree, Inc. to make payment and remove their merchandise. - For absentee, online, and out-of-state buyers, full payment and removal of goods is required no later than ten (10) business days from the completion of the auction. - For local buyers, full payment and removal of goods is required no later than five (5) business days from the completion of the auction. - For real estate buyers, earnest money of 10% of the invoice total (hammer price & buyer?s premium) is due the first business day after the sale by 5pm, with remaining balance due in-full within seven (7) business days by 5pm. Both the earnest money and remaining balance must be paid by wire transfer. - Any invoice with an outstanding balance thirty (30) days after the auction may be cancelled and the sale rescinded without further notice to the Buyer. 8. Storage and Fees: Failure to remove purchases within the above timeframes will result in Ahlers & Ogletree, Inc. releasing all paid merchandise to an off-site storage & shipping company, Bonded Service Warehouse, Inc. (BSW) (tel: 404.349.1466, e-mail: nivey@bondedservice.com), and moved to their facility without further notice to the buyer from Ahlers & Ogletree, Inc. There will be a minimum transportation charge of $50.00 upon arrival at the storage facility, and the buyer will receive an e-mail notification from BSW. Buyers agrees to coordinate all shipping, delivery, pick-up and collection of fees with BSW (tel: 404.349.1466). The buyer will have five (5) business days to arrange shipping before incurring an ongoing storage fee of $10.00 per lot, per day, that purchases remain in the storage facility. Merchandise left in storage for more than thirty (30) business days will be considered abandoned. 9. Buyer's Premium: Buyer agrees to pay Ahlers & Ogletree, Inc. a buyer?s premium based on winning bid amounts as follows: - In-Person, Phone, or House-Absentee Winning Bids: 21% of any winning bid (18% for cash or check payments). - LiveAuctioneers.com, Invaluable.com, and BidSquare.com Winning Bids: 24% of any winning bid, regardless of payment method. - Real Estate Winning Bids: 10% of the hammer price, regardless of payment method. 10. Damages: Buyer assumes full responsibility for any and all items when the hammer falls. Ahlers & Ogletree, Inc. shall have no liability for any damage to property left on its premises after the date of sale. 11. Estimates: Auction price estimates are given on each lot. Estimates should not be relied on as a prediction of the actual selling price or the actual value of any lot. 12. Lot Withdrawals: Ahlers & Ogletree, Inc. reserves the right to withdraw any lot at any time from the auction for any reason. 13. Sales Tax: All purchases are subject to 8% Georgia sales tax unless Buyer has a valid tax exempt certificate on file with Ahlers & Ogletree, Inc. Real estate taxes are subject to standard prorations found in the Purchase Agreement. 14. Failure to Pay: If Buyer fails to pay the balance of the invoice at the close of the auction, or otherwise comply with these Terms and Conditions, Ahlers & Ogletree, Inc. shall be entitled to the following remedies: (1) to recover from Buyer any monetary loss arising on any resale of the Lot (including all costs of any resale or attempted resale); (2) any deposit or partial payment paid by Buyer; (3) to recover from Buyer all of its costs and expenses of collection, including attorney?s fees of fifteen percent (15%) of the outstanding balance, interest on the outstanding balance of 1.5% per month and costs; and (4) all other relief and remedies allowed by the law. Georgia law applies and jurisdiction and venue over all disputes involving these Terms and Conditions shall be in Fulton County, Georgia. 15. Payment Methods: - Personal Property Sales: Ahlers & Ogletree, Inc. accepts checks, wire transfers, and credit cards including Visa, MasterCard, American Express and Discover. There is a flat $15 fee for domestic wire transfers and a flat $16 fee for international wire transfers. We will not release item(s) for shipment until payment has cleared the bank. There will be a $30.00 returned check fee for any and all check payments that are returned. - Real Estate Sales: Only wire transfers will be accepted as a method of payment. 16. Modifications: Ahlers & Ogletree, Inc. reserves the right to modify, add, or remove any section of these terms and conditions of sale at any time, with or without notice. 17. Registration: By registering and accepting a bidder number for the auction, Buyer agrees to the Terms and Conditions of the Sale as listed above. - Online, Phone, Absentee, and/or In-house Registration: Ahlers & Ogletree, Inc. reserves the right to request and authorize a credit card provided by all potential buyers up to 20% of the low estimate on all lots listed on phone and/or absentee forms. - Real Estate Registration: All potential buyers must be pre-approved through the lead broker facilitating the sale prior to registration. Once approved, potential buyers are required to provide Ahlers & Ogletree, Inc. with a refundable deposit of $25,000 in the form of a cashier?s check, wire transfer, or credit card authorization. The winning Buyer may apply the deposit to the Earnest Money due. Non-winning buyers will have cashier checks or wire transfers returned to them within 5 business days after the sale. Credit card authorization holds will release 7-10 business days after being placed and cannot be released sooner.