Special Terms
TERMS AND CONDITIONS
Internet Buyer's Premium: 10% BP
Sales Tax : 8.25% - Sales tax applied to Hammer Price, along with any other applcable tax.
Payment Options: Wire Transfer + $5.00 Wire Transfer Fee, Cash, Credit Card + 3.5% Card Convenience Fee.
Payment Instructions: Internet Buyer's Premium: 10% BP
Sales Tax: 8.25% - Sales tax will be applied to invoice total (unless proof of tax exemption and signed tax exemption form is sent to: masco@mascoequipment.com including your buyers number, prior to auction date), including Internet Premium. PAYMENT IS DUE UPON RECEIPT OF INVOICE FROM MASCO AUTION HOUSE. PLEASE CONTACT US AT 903-951-2046 TO ARRANGE FOR PAYMENT. ALL PAYMENTS ARE DUE IN FULL ON THE DAY OF THE AUCTION OR BY 5:00 P.M CST THE MONDAY FOLLOWING THE AUCTION...NO EXCEPTIONS!
Currency Type: USD
Shipping Instructions: MasCo Auction House does not ship or arrange shipping for Buyers. Buyers are responsible for their items.
Preview Dates and Times: M-F 8am-5 pm
Checkout Dates and Times: Buyers have 7 days to pick up items
Location: 1129 Industrial Drive W, Sulphur Springs, Texas 75482. Call us at 903-951-2046 for directions.
MASCO AUCTION HOUSE, LLC
ONLINE-ONLY AUCTION TERMS & CONDITIONS
Shawn Massey
Auctioneer License No. 18336
By registering for, accessing, or participating in this online-only auction, the Bidder (Bidder or Buyer) expressly agrees to be legally bound by these Terms & Conditions (Terms). All property is sold AS-IS, WHERE-IS, with no warranties of any kind.
1. Registration and Bidding Authority
1.1. All Bidders must register with accurate, verifiable identification, including legal name, address, and driver's license information.
1.2. Bidders are responsible for all bids placed under their account credentials, regardless of whether such bids were placed by the Bidder or any third party.
1.3. Auctioneer may deny, suspend, or revoke bidding privileges, at any time and for any reason, in its sole and absolute discretion.
2. Online Timed Bidding; Finality of Bids
2.1. This auction is conducted exclusively as an online timed auction. A Bidder's submission of a bid constitutes a firm, irrevocable offer to purchase.
2.2. Once submitted, bids may not be retracted, cancelled, or modified under any circumstance.
2.3. At the closing time designated by the online auction platform, the highest bid acknowledged by the platform constitutes the successful bid.
2.4. In all matters relating to bidding, timing, bid increments, and award of lots, the Auctioneer's and platform's recorded data and determinations shall be final, conclusive, and binding.
3. Condition of Property; AS-IS, WHERE-IS; No Reliance
3.1. All property is sold strictly AS-IS, WHERE-IS, with no warranties whatsoever, express or implied, including, without limitation, warranties of:
(a) merchantability;
(b) fitness for a particular purpose;
(c) condition, completeness, or functionality;
(d) age, year, model, serial number accuracy, hours, or mileage;
(e) safety, design, or compliance with any federal, state, or local law or standard.
3.2. All descriptions, photographs, statements, and representations, whether oral, written, or posted online, are provided solely for convenience, may contain inaccuracies or omissions, and shall not be deemed warranties or relied upon as statements of fact.
3.3. Bidder assumes full responsibility to inspect, investigate, and independently verify the condition and suitability of the property prior to bidding. Failure to inspect shall not relieve Bidder of obligations under these Terms.
4. Reserves, Seller Bidding, and UCC 2-328 Disclosure
4.1. Certain lots may be offered subject to a reserve.
4.2. Auctioneer, Seller, and their agents are expressly authorized to submit bids on behalf of the Seller for the purpose of protecting the reserve price, including bids placed solely for that purpose.
4.3. Such conduct is permitted under Texas law and UCC 2-328 and is hereby fully disclosed to all Bidders.
5. Reserve Not Met Bids and Bidder Obligation
5.1. The auction platform may display Reserve Not Met when a bid is submitted below the Seller's reserve.
5.2. Notwithstanding such designation, all bids remain binding offers.
5.3. If, at any time during or after the auction, the Seller elects to lower or remove the reserve so that the high bid equals or exceeds the adjusted reserve, the high Bidder is automatically deemed to have purchased the lot at the amount of their bid.
5.4. The timing of the Seller's decision to modify the reserve shall not release the Bidder from the binding nature of their bid.
5.5. By bidding, the Bidder expressly agrees that a Reserve Not Met designation does not invalidate, void, or diminish the legal effect of the Bidder's submitted bid.
6. Buyer's Premium; Payment Terms
6.1. A 10% Buyer's Premium, capped at $2,500 per item, shall be added to the high bid.
6.2. A 3.5% processing fee applies to all credit or debit card payments.
6.3. Payment in full is due within twenty-four (24) hours of the auction's closing.
6.4. Accepted payment methods include wire transfer with a $5.00 wire transfer fee, cash, and credit/debit cards (processing fees apply) checks upon approval with a bank letter.
6.5. No property may be removed until payment has cleared and a paid invoice has been issued.
6.6 $30 returned check fee will be applied to all returned checks.
7. Sales Tax
7.1. Applicable Texas sales and use tax will be assessed unless the Buyer provides valid resale or exemption documentation at the time of payment or prior to the auction.
7.2. Providing false exemption information may constitute a criminal offense under Texas law.
8. Titles, Registration, and Administrative Fees
8.1. As a licensed dealer, Auctioneer is required to process all titles and registrations for applicable vehicles, trailers, and equipment.
8.2. Buyer shall be responsible for all governmental fees, a minimum administrative fee of $100, and any mailing fees (waived if documents are retrieved in person).
8.3. Title processing may require additional time following payment clearance.
9. Removal of Purchases
9.1. Purchases must be removed within seven (7) days of the auction closing unless otherwise stated in writing.
9.2. Buyer is solely responsible for all dismantling, rigging, loading, and transportation, and shall bear all associated costs and risks.
9.3. Buyer shall repair any damage to real or personal property caused during removal.
9.4. Auctioneer may require proof of liability insurance before permitting dismantling or heavy-lifting operations.
9.5. Property not removed within the designated period may be deemed abandoned and, at Auctioneer's discretion, stored at Buyer's expense or resold without further notice, with Buyer remaining liable for all resulting costs and deficiencies.
10. Default and Remedies
10.1. If Buyer fails to pay or otherwise comply with these Terms, Auctioneer may, without notice and without waiving any rights:
(a) resell the property;
(b) retain deposits as liquidated damages;
(c) hold Buyer liable for all deficiencies, commissions (up to 12%), storage charges, expenses, interest at 18% per annum, and all costs of collection, including attorneys' fees.
10.2. Buyer shall remain liable for any loss arising from resale of the property.
11. Risk of Loss; Indemnification; Access to Premises
11.1. Title and risk of loss transfer to Buyer immediately upon the platform's designation of the high Bidder.
11.2. Inspection and removal occur solely at Buyer's risk. Auctioneer and Seller shall not be liable for any injuries, accidents, damages, or losses occurring on the premises or arising from use or removal of purchased property.
11.3. Buyer shall indemnify, defend, and hold harmless Auctioneer, Seller, and their officers, employees, and agents from all claims, liabilities, damages, and expenses (including attorneys fees) relating to Buyer's inspection, operation, removal, possession, or use of property, including claims alleging negligence.
12. Technical Issues and Platform Limitations
12.1. Auctioneer is not responsible for internet failures, server interruptions, delays, or technical malfunctions affecting the auction.
12.2. Auctioneer may extend, pause, reopen, or cancel bidding in its sole discretion in the event of technical disruptions.
13. Governing Law and Venue
13.1. These Terms shall be governed by the laws of the State of Texas.
13.2. Jurisdiction and exclusive venue for any dispute arising under these Terms or in connection with the auction shall lie solely in the state courts of Hopkins County, Texas.
14. TDLR Complaint Notice
Unresolved complaints may be submitted to:
Texas Department of Licensing and Regulation, P.O. Box 12157, Austin, Texas 78711, Tel. (512) 463-6599.
