PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE.
Real Estate is subject to prior sale.
GENERAL: The real property will be offered at public auction with live and/or online bidding. The auction company will offer the property in lots, tracts and combinations of lots and tracts. The deed will be a special warranty deed, limited warranty or quit claim deed, paid for by the sellers, the deed stamps paid by the sellers, and recording fees to be paid by the buyers. All improvements, buildings, sheds, structures, etc., sell with the property.
AS IS: The property and all improvements, if any, will be sold strictly AS IS with all faults, conditions, defects, and flaws. Buyer will take property in the condition extisting.No representations or warranties, express or implied, concerning the property is made by neither the sellers nor the seller's agents. Descriptions of the improvements and property are believed to be correct but are not guaranteed. You are encouraged to conduct your inspections and due diligence prior to bidding and buying at the auction. The real estate is being sold subject to any and all easements or right of ways. Lease payments or rents, if any, will be pro-rated at closing. Crop allotments, mineral rights, timber rights, water rights, if any, will transfer with the deed. The real property is being sold subject to restrictive covenants and homeowner's association rules, regulations and dues, county zoning, if any. Real estate taxes are pro-rated at closing.
METHOD OF SALE: The property will be sold by the legal description as a whole in a single parcel by public auction.
SURVEY: The seller will convey the property by existing recorded surveys.
PERK TEST: Sellers will not provide copies of previous perk test and septic permits, if any.
FINANCING: The sale is not subject to financing. Failure to close for ANY REASON WHAT SO EVER will result in the forfeiture of the deposit. NO EXCEPTIONS.
DEPOSIT REQUIRED AT AUCTION: Terms are for a deposit of 10% of the purchase price on site at the auction in cash, cashier's check or a check with a bank letter guaranteeing funds.
PURCHASE CONTRACT: Buyer will be required to execute a Real Property Auction Purchase and Sale Contract on site and submit their deposit.
NO CONTINGENCIES: The purchase and sale contract is not subject to any buyer contingencies for financing, appraisal, surveys, inspection or any other contingencies.
AGENCY: Buyer will be asked to sign an agency disclosure form stating that buyer is aware that Rogers represents the seller. Rogers' agents represent the seller and the seller's interest in the transaction.
ENVIRONMENTAL: There are not any environmental studies, phase 1, phase 2, or phase 3 studies for review. There are not any soil or water studies for review.
PERSONAL PROPERTY: There is no personal property or merchandise being transferred with the real property.
CLOSING: Closing is to take place in not more than 30 days from the date of the auction. TIME IS OF THE ESSENCE. All closing costs for the benefit of the buyer such as appraisals, surveys, loan applications, inspections, title searches, title insurance, etc. are the responsibility of the buyer. The seller is not paying for any of the buyers closing costs.
BUYER'S PREMIUM: A buyer's premium of 10% is added to the last and highest bid to determine the contract purchase price. For example, if the high bid is $100,000.00, a buyer's premium of $10,000.00 is added and the purchase price would be $110,000.00
POSSESSION: Possession will be given at closing.
ABSOLUTE/RESERVE: This auction is conducted with a reserve price.
DISPUTED BIDS: In case of a dispute over who is the high bidder, the auctioneer has the sole discretion to determine the high bidder.
INCREMENTS: The auctioneer has the sole discretion to determine the bid increments.
HOA, BYLAWS & COVENANTS: The real property sells subject to any HOA rules, covenants, restrictions, dues or fees, and if any.
QUALIFIED BIDDERS: Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.
DISPUTES: Any disputes that arise between the auction company, the seller, the seller's agents and the buyer will be dealt with by arbitration in Surry County, North Carolina.
DISCLAIMER: The auction company provides data, advertising, maps, that is believed to be correct but it is not guaranteed. Bidder's should rely on their own inspections and due diligence prior to bidding. Everything sells strictly AS IS. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color, or value of the merchandise or real property sold online. Buyer agrees that buyer may not cancel purchase for any reason.
LICENSES: NC Firm # 685, VA Firm # 2, SC Firm # 1874
From Mt. Airy take US 52 South, exit onto Old US 52 toward Pilot Mountain; take Westfield Road toward Westfield; turn left onto Old Forge Rd. (before Pilot Middle School); continue and take Freeman Ridge Rd. Sign Posted