Online Real Estate Auction Terms and Conditions/Registration This online Real Estate Auction is for property located at 103 Pinecrest Dr Myrtle Beach SC. Bidding will BEGIN February 16, 2009 at 10AM and END on February 19, 2009 at 4PM. Live bidding will begin at 5:00pm est. Please do not bid until you have read the following Terms & Conditions. If you have any questions, please call our office at 843-365-2637 1. Bidding is open to the public. 2. All bidders must be registered and obtain a bidding number in order to bid; however, there is no requirement to bid. All Bidders identity will be verified. A Visa or MasterCard is required to register, however NO charges will be made to your credit card . 3. By registering and bidding, the bidders acknowledge they understand and agree to the terms and conditions of the auction. The winning bidder also agrees to sign a purchase and sales agreement and pay the required escrow funds by 12PM on February 20th, 2009 at the offices of John T Henry Auction 2748 Cultra Rd. Conway SC.. The winning bidder also agrees to close the transaction. 4. All property sells in “as-is, where is” condition without guarantee or warranty as to suitability for use. 5. Bidding increments are controlled by Proxibid and cannot be changed. Please check with Proxibid for minimum bidding increments. 6. Contract Sales Price – The contract sales price will be determined by adding the high bid price and a buyer’s premium equal to 12% of the bid price together. 7. By 12 pm with John T Henry Auction, an amount equal to five percent (10%) of the contract sales price to be held in escrow and applied toward the purchase price. This as a non-refundable deposit unless the seller cannot provide a clear title at closing. The balance of the sales price will be due on or before March 19, 2009. 8. Closing costs, including, but not limited to attorney fees, deed stamps, deed preparation, survey and termite inspection to be paid by purchaser. 9. Possession: At closing 10. In the event the purchase offer is accepted and the buyer fails to comply with the terms of the Contract of Sale, then the earnest money will be forfeited, but such forfeiture shall not affect any other remedies available to seller for such failure. 11 John T Henry Auction and Realty, George Henry, BIC, is an agent of the Seller in this transaction. 12. All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or John T Henry Auction & Realty, George Henry, BIC. Personal on-site inspection is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute ground for any claim or demand for adjustment or withdrawal of bid, offer or earnest money after its opening tender. Any questions, please call: John T Henry Auction & Realty 2748 Cultra Rd Conway SC office: 843-365-2637 John Henry 843-222-5900 George Henry 803-318-0522