Keweenaw Mountain Lodge

TERMS AND CONDITIONS Bidders must register with Proxibid and complete the registration criteria to obtain bidding privileges. Bidders must register under the same name that will appear on the purchase agreement. Registration Criteria includes: (1) Bidders must have a completed Non-Reliance Agreement on file with Maas. Maas has provided Bidder with a link to the Google Drive and Bidder has performed his or her due diligence accordingly. All sales are final and as-is, where-is, it is the Bidder's responsibility to review all documents. (2) Bidder must deposit $20,000 with Keweenaw Title as a Certified Deposit by Thursday, July 19. (3) Bidders must complete and return an Offsite Bidding Agreement; non successful bidders' deposits will be returned on or about Tuesday, July 31. (4) Bidders must pre-sign the purchase agreement and return to Maas Companies. The property is selling subject to Seller Confirmation within 24 hours of the bidding completion; purchase agreements will be executed upon completion. Once the preceding Steps are completed, the bidder is granted bidding privileges. If you have not utilized Proxibid for online bidding, please spend time on the site to familiarize yourself. BUYER PREMIUM: Bidder acknowledges that there is a 10% Buyer's Premium which will be added to the final bid price to be paid by the highest bidder and will be incorporated into the total selling price. The highest bidder also will acknowledge that Maas Companies, Inc is the Agent for the Seller. Independently, if applicable, a 2% Broker Participation Fee will be due from the Seller to the Broker representing the highest bidder who registers with Maas Companies, Inc prior to the completing their on-line registration. Said participation fee shall be paid when the highest bidder, registered by said broker, closes on the purchase of the property. To qualify, a broker must attend at least one inspection with his/her client, assist, as needed, in the closing process and attend closing. A broker buying on his/her behalf, or on behalf of any business entity in which he/she holds an interest or on behalf of a family member or a family member's business entity, is not entitled to a commission. Broker Participation is not required. DEPOSIT: In order to obtain bidding privileges, a bidder must deposit via a wire or certified check an amount of $ 20,000.00 to Keweenaw Title. If the bidder is not the successful bidder, the Deposit will be returned on or about Tuesday, July 31 corporate check delivered by U.S. Mail. The successful bidder's deposit will be applied toward the 20% earnest money and is NON-REFUNDABLE. Further, the high bidder must make a second deposit in certified funds or wire transferred funds to be delivered to Keweenaw Title Agency not later than 5:00 p.m. EDT on Monday, July 30, 2018 to bring total deposits to twenty (20%) of the Purchase Price (high bid plus Buyer's Premium). The balance of the Purchase Price is due at closing. The earnest monies deposits are NON-REFUNDABLE. CLOSING: The balance of the purchase price shall be due in full at closing, on or about September 10, 2018 or on an earlier date if Seller and Buyer mutually agree. The Buyer acknowledges that the Buyer has inspected the property and is purchasing the property on an "as is, where is with all faults" basis. The Buyer also acknowledges that there are no express or implied representations or warranties by Seller as to physical conditions, quality of construction, workmanship, or fitness for any particular purpose. The Buyer further acknowledges that the information and descriptions are believed by the Seller to be accurate, however, such information and descriptions are not guaranteed. ADDITIONAL TERMS: The Buyer agrees to be bound by the terms of these terms and conditions and agrees to execute any additional documents to proceed with the purchase of the property under the terms of this offer. Bids submitted on Proxibid are binding and irrevocable. Bidders further acknowledge that the property is selling subject to owner confirmation with 24 hours of the sale. MANNER OF SALE: The Buyer understands that the sale is subject to and conditioned on Seller's approval within 24 hours of the auction's closing. At such time if the offer is accepted, the Seller will execute the purchase agreement. Seller reserves the right to accept or reject any offer. Bidders are bound by their bidding via Proxibid, at no time may a buyer revoke a bid. The order and manner of the bidding may be altered at the time during the process. ANY ANNOUNCEMENTS MADE DURING THE AUCTION PROCESS WILL TAKE PRECEDENCE OVER MATERIAL PUBLISHED ABOUT THIS EVENT.