Each auction can be slightly different but we have put together the basic guidelines for Hammersmiths Auctions including the Terms and Conditions. If there is anything you need to know please contact us.

We understand that the auction process is new to many people and we want you to be informed and feel comfortable with your decision to purchase your home by auction. You join the many others who have found the auction process to be an uncomplicated way to purchase real estate.

1. Registration. You must be registered before the auction to be eligible to bid. You can register with Hammersmiths on-line or by fax anytime before an auction and you can register on site before the start of the auction. Please bring Photo i.d.
   
   
2. A cashier’s check for a specified amount or a bank letter of guarantee is required to bid on each property. Immediately following the auction the winning bidder is required to present an additional deposit in the form of a personal check to bring the total deposit to 10% of the total contract price. Deposits will be returned to all other bidders immediately following the auction.
   
   
3. A Buyers Premium of ten percent (10%) will be added to the top bid and be included in the contract price.
   
   
4. The balance of the purchase price will be due at closing which will be on or before 30 or 45 days following auction.
   
   
5. Real Estate is sold ‘As-is/Where-is’. All information supplied was derived from sources believed to be correct but not guaranteed. Buyers shall rely on their own judgment, inspections and information of the property and records.
   
   
6. All announcements made from the block will take precedence over any previously printed material or any other oral statements made.
   
   
7. In many cases pre-auction bids are accepted. Time is of the essence and property may be withdrawn from auction due to prior sale.
   
   
8. The Auctioneer in charge will settle any disputes as to bids. The Auctioneer’s decision on such matters will be final.
   
   
9. Liability. All persons attending the auction do so at their own risk. Neither the sellers, nor Hammersmiths Auctioneers, nor any other person connected with the auction assumes any liability, legal or otherwise for any accident which may occur.

Terms For Purchase Of Real Estate At Auction

All bidding is open to the public. You must, however, be registered and get a bid number before you may bid on the property.

The property has NOT been surveyed for this auction. If purchaser desires a survey it will be at the purchasers option and expense. If an actual survey shows a greater or lesser number of acres or footage, it will not affect your purchase or the purchase price. All acreage and dimensions are believed correct but are not warranted nor guaranteed. The property is sold subject to any existing right of way easements.

All property is selling AS IS, WHERE IS. No warranty is given either expressed or implied. It is important you inspect the property before bidding. Auctioneers are acting as agent only and are representing the seller in this transaction. This property is being sold with no contingencies.

A 10% (TEN) buyers premium will be added to the top bid and included in the total contract price.The final high bid on the property is irrevocable. Property is offered on a cash basis and not contingent upon the availability of financing or any other reason. Upon becoming the high bidder, you will be required to sign a Bid Acknowledgement, a Purchase Agreement, and to sign your deposit check or certified funds to the Trust Account as an earnest money deposit. Earnest money deposit would be forfeited in the event of your failure to close.

Seller will guarantee good and clear title and issue a warranty deed.

Closing will take place not more than 30 or 45 days from the date of the auction, sooner if buyer is able. Time is of the essence.

Auctioneer may solicit back-up purchase contracts from bidders. Such back-up contracts are automatically in position to become the successful contract in case the first purchase contract fails to close.

Auctioneer reserves the right to conduct the auction in an orderly fashion, without interference or nuisance. Conduct of the auction and increments of bidding are at the sole direction of the auctioneer. In case of dispute among competitive bidders, auctioneer may reopen bidding to identify the high bidder or may declare one as the successful bidder. Any and all decisions by the auctioneer shall be final.

Announcements made at the time of sale take precedence over any and all printed material. Offer is made subject to changes and/or withdrawal.

If this property is sold subject to seller’s confirmation, auctioneers have 15 minutes to present the high bid offer to the seller for confirmation.

I have read the above terms and conditions governing the sale of the real estate at public auction and agree to be governed by them.

SIGNED___________________________________________ Date__________________________

Name _________________________________________________Telephone __________________________

Address _________________________________ _________________________________________________

City ____________________________________________ State_______ Zip___________________________

Evidence of Deposit (check # _______________) Bank ___________________________ _______________

ACCEPTED BY AUCTIONEER __________________________________________ Date________

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