Real Estate Closing Terms & Conditions: 1- The terms and conditions of the auction sale and purchase of any property shall be governed by the Contract for Sale of Real Estate, herein called Purchase Agreement. The high bidder(s) will be required to sign the Purchase Agreement immediately upon conclusion of the auction. 2- FEES: Buyer will pay all closing cost and associated fees. 3- BIDDER REGISTRATION DEPOSIT: To participate in this real estate auction an upfront $500 bidding registration fee is required. Payable via major credit, wire transfer, business check, cash or money order. This registration fee will be refunded within a 48 hour period after the auction. The winning bidder’s registration fee will be deducted from the buyer's settlement total at closing. 4- EARNEST MONEY DEPOSIT: An earnest money deposit equal to five (5%) of the contract price is due and payable at the signing of the Purchase Agreement. All earnest money deposits will be deposited in Henderson Auction’s non-interest bearing escrow account. The 5% earnest money is due within 48 hours after the auction closes payable by wire transfer, money order or cashier's check. This deposit will be deducted from the buyer's settlement total at closing. The 5% deposit is non-refundable if the buyer fails to close on the property. 5- VIEWING/INSPECTION: The buyer is responsible to complete inspections/viewing prior to the close of the auction. 6- “AS IS, WHERE IS”: The buyer is purchasing this property "as is, where is" with no warranties expressed or implied for habitation or development. 7- POSSESSION: Possession of the property will be at closing subject to existing tenant’s rights and any other encumbrances. Some Properties may be subject to existing leases or tenancies. If leased, possession will be thirty (30) days after closing. 8- SURVEY/PROPERTY MAPS/TAXES: Seller will provide property maps and aerial photos as available. All Closing Costs paid by Buyer. Seller pays property taxes pro-rated until time of auction. 9- REAL ESTATE TAXES: All real estate taxes shall be pro-rated. 10- CLOSING: Closing under all Purchase Agreements shall be on a date no later than forty five (45) days after delivery of insurable title to Purchaser. Buyer to pay attorney fees, and closing costs. 11- BUYER’S PREMIUM: 10% buyer’s premium shall be added to the high bid which will establish the final contract sales price.