There shall be no contingencies of any kind accepted in the purchase agreement. Buyers to have financing arrangements made prior to bidding on the auction. A 10% Buyer’s Premium applies to this property and will be used in calculating the purchase price. Example $205,000 winning bid + 10% buyer’s premium ($20,500) = $225,500 purchase price. Balance in full due on October 29, 2021, the date of closing & possession. Buyers wishing to close earlier will be accommodated. This auction features extended bidding. Extended bidding allows bidders to effectively respond to being outbid. If a bid is placed within 2 minutes of the scheduled auction closing the bidding will be extended to 2 minutes remaining. This will happen indefinitely until there is no bidding activity on the property for 2 full minutes. Properties shall be sold to the highest bidder unless the seller has a reserve price. If the seller has a reserve the property will either be sold subject to seller confirmation or the reserve price will be listed. The auction listing will state whether the property will be sold absolute without reserve, subject to seller confirmation, or with a stated reserve price. In some instances the auctioneer may bid on the seller’s behalf to protect the reserve price. Bid acceptance: MNdustrial and Better Homes and Gardens Real Estate will contact the high bidder immediately following the closing of the auction. For an absolute no reserve auction and for auctions where the reserve has been met the buyer shall enter into a purchase agreement immediately. Purchase agreements and all applicable addendums shall be submitted along with stated earnest money within 24 hours of the auction closing. Bidders unable to submit appropriate paperwork and earnest money within 24 hours will be considered in breach of this agreement. Bidder verification requires registered bidders to contact either the auction company or the real estate broker for final approval. Bidders must submit their full name, phone number, and address. The auction company and real estate broker reserve the right to reject any bidders based on bidding history, financial ability, bidders refusing or failing to verbally acknowledge terms or any indication by the bidder that they would be unable to perform at closing. The seller, broker, and or auction company reserves the right to remove the property from the auction at their sole discretion. Each buyer is required to conduct their own due diligence prior to bidding on the property. This property is being sold AS-IS with no warranties or guarantees expressed or implied. In the event of an internet or software malfunction the auction company and real estate broker reserve the right to act in the best interest of the seller. This may include resetting the bidding, extending the auction closing, rejecting existing bids, or other remedies. Bidder to acknowledge that internet and software may not function properly at closing and under no circumstances shall the bidder have any claim against the seller, auction company or real estate broker. The auction company and real estate broker shall have final say in who the high bidder is at the conclusion of the auction.