PLEASE READ ALL TERMS & CONDITIONS BEFORE BIDDING! WHAM AUCTION & REALTY Real Estate Terms and Conditions/Registration 1. This is an online only real estate auction. 2. All bidders must be registered and obtain a bidding number in order to bid; however there is no requirement to bid. 3. By registering and bidding, the bidders acknowledge they understand and agree to the terms of the auction. The information contained in the sales brochure and all related materials are subject to the terms and conditions of the purchase agreement. 4. All property sells in “as-is, where is” condition without guarantee or warranty as to suitability for use. 5. Contract Sales Price – The contract sales price will be determined by adding the final bid price and a buyer’s premium equal to (10%) of the final bid price together. 6. Immediately following the bidding, the winning bidder will execute the Purchase and Sales Agreement and deposit with WHAM Auction & Realty, an amount equal to five percent (5%) of the contract sales price to be held in escrow and applied toward the purchase price. This is a non-refundable deposit unless the seller cannot provide a clear title at closing. The balance of the sales price will be due within 30 days at closing. The seller reserves the right to extend the closing date an additional 30 days if necessary. 7. Buyer agrees to pay ALL closing costs, including, but not limited to attorney fees, deed stamps, deed preparation, survey and termite inspection to be paid by the purchaser. 8. Possession: At Closing 9. 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. 10. All information published, announced herein was derived from sources believe to be correct; however, it is not guaranteed by the seller or WHAM Auction & Realty and Ted LeCroy, 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 deposit money after its opening tender. Any and all announcements made from the auction block take precedence over all other verbal, printed, announced and/or distributed information. 11. NOTE: By accepting a bidder number and bidding in the auction, you have entered into a binding contract. By not complying with the terms and conditions herein, bidder will be considered in default and will bear all responsibilities resulting in damages to Seller and Broker.