PROPERTIES WILL BE SOLD AS IS, WHERE IS. IT IS THE BUYER'S RESPONSIBILITY TO VERFIY SQUARE FOOTAGE OF LOTS AND HOMES ON INSPECTION DAY. ProTEAM™ Auction General Terms & Conditions Absolute Auction Liquidation of Real Estate, Newport TN October 24th, 2020 @ 9:00 a.m. Inspection Days, October 23rd, 9a.m.- 5 p.m. ProTEAM™ Auction Order of Sale Items will be sold in numerical order. It will be at the option of the auctioneer to sell items out of sequence or to divide or consolidate lots. ProTEAM™ Auction Terms A 10% buyer’s premium will be collected from onsite bidders on all items the day of the sale; an additional 2% buyer’s premium for online bidders. 10% is due the day of the sale in form of payments listed below. Payment must be in full sale day by cash (US Funds) wire transfer, cashier’s check, personal or company check if accompanied by a bank letter of guaranty. If unable to provide a bank letter on the day of checkout, we can accept checks through TeleCheck service which will charge a 3% convenience fee. Debit/Credit cards are accepted up to $3,500.00 for a 3% convenience fee. Once an item has been sold, it becomes the sole responsibility of the purchaser. No items are to be removed until complete settlement has been made. Settlement can be made at any time during the sale. However, settlement must be made today of 10% of purchase price. The invoice and a paid item receipt will be supplied to the purchaser at the time of settlement. Please make checks payable to ProTEAM™ Auction. “All Sales are Final.” OWNER MUST SELF-INSURE FROM THE TIME THAT THE GAVEL FALLS. ProTEAM™ Auction Registration By registering as a bidder and/or participating as a bidder at the auction sale, each bidder is bound by the terms and conditions set forth herein and otherwise announced at the time and place of the auction sale and agrees that such terms and conditions are binding on the bidder whether or not the bidder was present and/or heard such announcements. The bidder agrees that the auctioneer is in control of the conduct of the auction sale and has the right to accept or reject any bid by any bidder at the auction sale in the sole discretion of the auctioneer as to whether or not any bid is in conformity with the terms and conditions of the sale as advertised and announced prior to sale. Further, auctioneer may refuse to accept a bid whenever in his sole discretion it is not made in good faith or whenever the bidder appears to be adversely affected by some incapacity or influence at the time of sale. All persons must be registered to bid, and all will be identified by number to facilitate the speed of the auction. ProTEAM™Auction Tie Bids Auctioneer will rule in case of “tie” bid. In the event of a tie bid or any uncertainty as to which bidder placed or offered the last and highest bid at any sale, the auctioneer has a right to resolve any such issue at the time of sale by accepting the bid that the auctioneer believes in good faith was the last, highest, and best bid, or the auctioneer may reopen the bidding, at his sole discretion and option, and such decision shall be final and binding on any affected party or bidder. ProTEAM™ Auction Sales Tax All Real Estate Taxes will be paid at time of closing. ProTEAM™ Auction Methods of Payment All purchases are to be paid in full in U.S. funds on the day of the auction in BANK WIRE, CASH, or CASHIER’S CHECK (Company OR Personal checks only when accompanied by a bank guarantee letter OR use of TeleCheck System with 3% convenience fee). No exceptions. The purchaser shall not be entitled to possession on any part or parts of any of his purchases until the total purchase price of all his purchases has been fully paid. ProTEAM™ Auction Notice to Inspect Auctioneer presents all information in brochures, catalogs, and other advertisements from sources believed to be accurate. These are not representations of the auctioneer. Therefore, prospective buyers are urged to inspect the items to their own satisfaction. All items are available for public inspection and the foregoing are merely guides. Any condition set forth on any item is in no way a warranty or guarantee - actual or implied. ProTEAM™ Auction Online Bidding Terms As-Is. Where is with no warranties implied or expressed. No allowance refund or set aside, will be made on account of any incorrectness, error in cataloging, imperfection, defect or damage by seller or it’s agent ProTEAM™ Auction. Any descriptions or representations are for identification purposes only and are not to be construed as a warranty of any type. It is the responsibility of buyer to have inspected thoroughly the items and to have satisfied himself or herself as to its condition and value. They should then bid based on that judgment solely. All property is sold “As Is,” and all sales are final. Property is open to thorough public inspection. It is the bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. Pro Team Auction Company may attempt to describe the merchandise in advertising, on the Internet and at the auction but makes no representations. In no event shall ProTEAM™ Auction be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole Judge of Value. Bidders who bid from off site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. ProTEAM™ Auction shall endeavor to describe in detail each item and any pertinent information about it. ProTEAM™ Auction will not be responsible for any errors or omissions in the description of the merchandise. Bidder agrees that everything is sold “As Is” and that they may not return any item they purchase. ProTEAM™ Auction is providing Internet pre-auction and live bidding as a service to bidder. Bidder acknowledges and understands that this function may or may not function correctly the day of the auction. Under no circumstances shall bidder have any kind of claim against ProTEAM™ Auction or anyone else if the Internet service fails to work correctly before or during the live auction. ProTEAM™ Auction will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the Proxy-Bidding feature and leave their maximum bid 24 hours before the auction begins. ProTEAM™ Auction reserves the right to withdraw or recatalog items in this auction. Closing of your purchases should be made within 30 days of auction date. All Internet bidders who fail to make payment on these Internet purchases within TWO business days will be reported to Proxibid or Equipment Facts as a “Non-Paying Bidder” and will be prohibited from registering for any additional Internet auctions until payment is rendered. Our payment options are Cash, Check (ONLY when accompanied by a Bank Letter of Guarantee), Wire or Certified Check. NO EXCEPTIONS. A wire transfer fee of $15 is required when using this payment option. International Wires are $75. ProTEAM™ Auction Safety Devices Articles purchased may not incorporate approved activating mechanisms, operating safety devices, or safety guards as required by law. It is purchaser’s responsibility that articles purchased be so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation. ProTEAM™Auction Warranties Except for the representations and warranties of seller as to title to the house(s) shall be sold to buyer by seller “As Is, Where is” without any other representations and warranties, whether written, oral, or implied, and seller shall not by virtue of having sold the houses or land, be deemed to have made any representation or warranty as to the merchantability, fitness for a particular purpose, operability, design or condition of, or as to the quality of the material or workmanship of the homes or buildings- all of which are expressly disclaimed. Seller shall not be liable, in contract, tort, or otherwise (including strict liability) due to any manufacturer’s defect or other defect, whether hidden, latent, or otherwise discoverable or no discoverable respecting any house(s). Buyer acknowledges that seller did not select, manufacture, or supply the house(s) and that buyer has made the selection of the house(s) based upon its own judgment and expressly disclaims any reliance on statement made by seller or its agents.