Presentation is loading. Please wait.

Presentation is loading. Please wait.

BIDDER’S INFORMATION PACKAGE TO BE SOLD SUBJECT TO MINIMUM BID OF: For Detailed Information, On-site Inspection and Auction Information, Call Art Bale,

Similar presentations

Presentation on theme: "BIDDER’S INFORMATION PACKAGE TO BE SOLD SUBJECT TO MINIMUM BID OF: For Detailed Information, On-site Inspection and Auction Information, Call Art Bale,"— Presentation transcript:

1 BIDDER’S INFORMATION PACKAGE TO BE SOLD SUBJECT TO MINIMUM BID OF: For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 View at AUCTION REAL ESTATE Open Online Auction AUCTION Ends @ 11:30 AM FEB 26, MAR 26, & APR 28 ARIZONA # 1030 South Barrel Cactus Ridge Benson, AZ 85602 $ 77,000 2007 PARK MODEL WITH AZ ROOM Plus Deeded Lot # 37 Residential Home Gate Area, 55+ (Lot Owners Association) Road Runner Ridge @ Cochise Terrace RV Resort  364 Square Feet + 362 SF AZ Room  1 Beds/ 1+ Baths  Large Double Shed / Man Cave  Concrete Driveway with covered carport  Large AZ room with:  Stacked washer/dryer  Bathroom with sink  Priced to Sell + 6% Buyers Premium

2 TABLE OF CONTENTS Part 1:Bidder’s Information Auction Offering …………………………………………………………..……1 of 1 Property Summary…………………………………………….…………….…2 of 1 Pictures…………………………………………………………………….……….3 of 1 Legal Description, Taxes, Plot Map……………………………………..4 of 1 Part 2:Contracts Terms & Conditions …..…………………………………..…………………2 of 2 Brokers Participation…………………………………………………………4 of 2 Auction Registration Form……………………..……….………….…….5 of 2 REAL ESTATE AUCTION SALES CONTRACT………………………..…6 of 2 Part 3:Deposit instructions Deposit Wiring instructions………………………………………………1 of 3 Pioneer Title………………………………………………………………….…2 of 3 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 I

3 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 PART 1 BIDDER’S INFORMATION POINT OF CONTACT For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 1 of 1

4 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Auction Offering The sellers have elected to use the MINIMUM BID auction method of sale in order to achieve a personal goal. Seller has found there is no better way to achieve “True Market Value” than offering their property via an auction. Buyers also have an opportunity to purchase real estate through an auction without the hassle of long negotiations and achieve Peace of mind knowing that they paid “Market Value” for their property. The auction of Properties such as this one is rare and we wish all bidders luck in the pursuing this unique opportunity to own a stunning lot with views galore. Property Summary # 37, 1030 S. Barrel Cactus Ridge, Benson AZ is a lovely clean and well maintained 2007 Park Model, that features one bedroom, one bath, deck off the back and great view. Oh wait, there is a huge Arizona Room and even reveals a Half Bath and stacked washer and dryer. There is an oversize shed that has a parking garage for a Golf Cart. Locals have spoken on the Great views form the back porch. Bidder’s Information Package Bidders must provide a 500.00 Certified Check payable to Pioneer Title in order to bid. Pioneer will treat the winning bid check as a non-refundable deposit. The balance of the 20 % earnest money must be provided to Pioneer Title within 48 hours. The second winning bid will be selected should the winner fail to provide the 20% within 48 hours. Other certified checks will be returned to the owners at the end of the bidding process or if acceptable offer is obtain prior to auction. A copy of the preliminary title commitment: real estate tax information: Lot Owners Documents (LOA), etc is far to many pages for presentation online. Copies will be provided once Bid Deposit is verified. For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 2 of 1

5 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 3 of 1 PICTURES

6 Legal Description Page 4 of 1 TAXES PLOT MAP

7 Page 6 of 1

8 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 PART 2 Contracts POINT OF CONTACT For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 1 of 2

9 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 TERMS AND CONDITIONS OF AUCTION BIDDER’S AFFIFDAVIT, LLC THIS AGREEMENT, between, LLC, hereinafter collectively referred to as “Auctioneer”, and the undersigned “Bidder”, entered into the “Acceptance Date”, is based upon mutual promises, undertaking and considerations recited herein in connection with the auction conducted on 2/26/2015, 3/26/2015, 4/27/2015 online bidding. In order to be allowed to bid on the Property (“Property”) at the auction, Bidder must agree in writing to the following terms and conditions, and provide proof of BID DEPOSIT received by Pioneer Title Agency. 1.Auctioneer represents the Seller of the Property offered for sale by auction and does not represent the Bidder. 2.Bidder desires to bid upon Property offered at the auction. 3.Bidder has inspected the Property, and all information related to the Property made available to Bidder by Seller and Auctioneer including, but not limited to, the Bidder’s Information Package for Property and other related property information for said property. 4. In consideration of the Seller and Auctioneer allowing Bidder to bid on the Property at the auction, Bidder hereby acknowledges and agrees that if Bidder is the final high bidder for the Property, online and onsite. Bidder will immediately, upon being declared the final high bidder, submit to Seller a written offer on the contract form provided by the Auctioneer for the Property, with no changes made by Bidder to the contract form. Bidder hereby acknowledges that Bidder has a copy of the contract form: REAL ESTATE PURCHASE CONTRACT and has read and understands the contract. 5.Bidder agrees to make $ 500.00 Bid Deposit (Certified check payable to Pioneer Title) which will become non-refundable earnest money should this Bidder win the auction. Purchase and Sale Agreement and deposit check payable to Pioneer Title will be delivered to the escrow agent. Purchaser understands and agrees that the certified check will be deposited by the escrow agent upon delivery and the balance of 20 % earnest money is due within 48 hours. 6.Seller and Auctioneer have agreed that this sale is to be conducted by including a Buyer’s premium of Six Percent (6%) paid by the Bidder upon the final high bid price as determined by the Auctioneer. Said Buyer’s premium shall be added to the high bid price to determine the final purchase price. The purchase price shall be the total of the amount bid plus the Buyer’s premium. 7.Bidder acknowledges and agrees that payment of the Buyer’s Premium shall not make Auctioneer the agent of the Bidder and that Auctioneer continues to act as the agent of Seller of the property sale. 8.Seller reserves the right to accept or reject any and all bids and offers below the published Minimum Bid. For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 2 of 2

10 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 9. Referral Brokerage: 1.5 % of Sale price, based on the high bid, will be paid to any properly licensed real estate agent/ agency who represents the Bidder, provided that the Bidder closes escrow for the Property and the real estate agent does all of the following: a) Follow all the requirements of Broker Participation, including but not limited to: b) Review the TERMS AND CONDITIONS OF AUCTION with the bidder. c) Professionally assists the bidder by providing relevant advice and Property information. d) Attend the auction with the Bidder or bid for the Bidder with limited power of attorney form. e) Complete the Buyer’s Broker information on the Auction Purchase and Sale Agreement. 10. Auctioneer will control the increments of bidding and sale order and may suspend and resume bidding for any and all properties prior to the conclusion of the auction. Auctioneer reserves the right to add or delete any property in this auction at any time prior to the conclusion of the auction, and to cancel the auction in whole or in part at any time. Online bidding only will eliminate the need for auctioneer. 11. Bidder acknowledges that Bidder has inspected any Property said bidder will bid on, and Bidder is relying solely on Bidder’s own investigation of the Property and not on any information provided or to be provided by Seller or Auctioneer or Real Estate Brokerage. Bidder further acknowledges and agrees that any information provided by or on behalf of Seller with respect to the Property including, without limitation, all information contained in any Property information package previously made available to Bidder by Seller and Auctioneer was obtained from a variety of sources and that Seller, Real Estate Broker and Auctioneer make no representation as to the accuracy or completeness of such information. 12. Seller and Auctioneer reserve the right to remove any Bidder from the auction for causing a disturbance or otherwise disrupting the auction. Bidder agrees to leave the property where the auction is conducted immediately upon being asked to do so by the Auctioneer. 13. The Property will be sold in “As Is” condition. The Auctioneer, Real Estate Broker, and Seller makes no warranty expressed or implied whatsoever regarding the Property. 14. Bidder and anyone claiming by, through or under bidder hereby fully and irrevocably release Auctioneer, Real Estate Broker and seller and their respective employees, officers, directors, representatives and agents from any and all claims. This release includes claims of which Buyer is presently unaware or which Buyer does not presently suspect to exist in his favor, which, if known by Buyer, would materially affect Buyer’s release of Auctioneer. It is understood and agreed that the purchase price has been adjusted by prior negotiation to reflect that Seller sells the Property and purchased by Bidder subject to the foregoing. _________________________________ (“Acceptance Date”) __________________________________ Bidder’s Signature __________________________________ ______________________________________ Print Name by: DB for Real Estate Page 3 of 2

11 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Brokers Participation Invited Referral fee is outlined in paragraph 9 above. To qualify for the referral fee, the real estate agent or Broker must: 1.Be a licensed real estate agent or broker in the state of Arizona, abide by the National Association of Realtors® Code of Ethics; 2.Register the client by certified mail return receipt requested, on company stationery, which must be signed by both broker and client and confirm the “buyer-broker” arrangement (“Registration”), with This document must be delivered and accepted 48 hours prior to the scheduled auction. Deliver to 1030 S. Barrel Cactus Ridge, Benson AZ 85602. Attention Auction Project Coordinator,, Art Bale. 3.Insure that the registration is received prior to inspection of property by client; 4.Onsite Only: Sign in and attend any tour with the client during a scheduled Open House; 5.Online Only: Attend the auction with the Client and bid with or for the client; and 6.Insure that Buyers Premium is included in the Purchase & Sales agreement. All Registrations accepted will be acknowledged by the auctioneer. Each participating agent or broker must bring this acknowledged Registration to the Auction for registration verification purposes. A complete file of Registrations on all clients will be maintained. NO Broker registration will be recognized on a client who has previously contracted or been contracted by the Sellers, their representatives or Auctioneer. Referral fees will be paid upon closing by Sellers at Pioneer Title, at closing. Referral fees are based on the high bid amount. NO referral fees will be paid by the seller, if the broker, the broker’s agents or a member of the broker’s immediate family is participating in the purchase of the property,an Affidavit will be required certifying the broker is not acting or participating in any way as a principal. NO sub-agency shall be offered to any broker by the Auctioneer. There can be NO EXCEPTIONS to this procedure and NO ORAL Registrations will be accepted. If a referring broker has not met all of these requirements, NO referral fee will be paid to the referring broker, even if the referring broker’s client purchases a property. Disclaimer The information contained in the brochure is subject to inspection and verification by all parties relying on it. Sellers, their agents and the assume no liability for its inaccuracy, errors or omissions. All SQUARE FOOTAGE, DIMENSIONS AND TAXES IN THIS BROCHURE ARE APPROXIMATE. This offering may be withdrawn, modified or cancelled without notice at any time and is subject to prior sale. This is not a solicitation to residents of any state where this offering is prohibited by law. Page 4 of 2

12 Page 5 of 2

13 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 REAL ESTATE AUCTION SALES CONTRACT (Hereinafter, “Contract”) 1.The Parties: Seller(s) (Name, Address, Telephone Numbers): _____________________________________________ Tel: _________________________ Email: _______________________________________ (Hereinafter referred to as “Seller(s)” Purchaser(s) (Name, Address, Telephone Numbers): _______________________________________________ _______________________________________________ _______________________________________________ Tel: _______________________________ Email address: __________________________________ (hereinafter referred to as “Purchaser(s)” (Name, Address, Telephone Numbers): Art Bale, Designated Broker Real Estate Auctions Arizona, LLC 1030 S Barrel Cactus Ridge Benson, AZ 85602 Direct: 520-720-0824 Email address : Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 6 of 2

14 2.Defined Terms (in alphabetical order) The following terms found throughout this Contract are defined as follows: Association Documents – Documents provided by the Home Owners\Lot Owners Association,. Articles of Incorporation – Legal recognition by the State identifying formal structure of a Company. Auctioneer – a person who conducts an auction by announcing the lots and controlling the bidding and identified above. Additional Earnest Money – A deposit made by the potential buyer to show that he or she is serious about buying the house. Balance of Purchase Price – The amount remaining to complete the purchase of the Property. Bid Price – The highest and accepted bid made by the Purchaser at the live cry auction and online bidding held by Auctioneer on behalf of Seller on 2/26/2015, 3/26/2015, 4/27/2015, for the sale and purchase of Property. Buyer’s Premium – An amount equal to 6% of the Bid Price, which amount is added to the Bid Price to determine the Purchase Price. By-Laws – A rule made by a local authority for the regulation of its affairs or management of the area it governs. Closing – A meeting where all of the documents are signed and money changes hands to complete the sale of the Property to the Purchaser in accordance with this Contract. Pioneer Title will be the Closing agency for this property. Closing Costs – Any and all costs of closing the transaction that are not otherwise designated in this Contract including but not limited to costs and fees charged by the Escrow Agent and Title Company such as escrow fees, title company charges, wiring fees, and recording fees. Closing Date – The date upon which the Closing shall take place, which shall be within 20 days after auction or sooner as agreed to by Seller, Should the purchaser fail to close on within 20 days after auction shall constitute default hereunder. Commitment for Title Insurance – This insures the property buyer against any title-search errors or mistakes and against loss due to disputes over property ownership. Title Insurance can additionally offer protection to the lender under similar circumstances. Contract – This real estate auction sales contract. Development – The process of adding improvements to a parcel of land, grading, subdivisions, drainage, access, roads, utilities. Escrow Agency – is Pioneer Title, Benson AZ (Kim Lockhart), 520-686-3733 Participating Broker - A brokerage company, or its sales agent, who obtains a buyer for a property that is listed with another brokerage company Party – Purchaser or Seller or an Auctioneer or the Broker, each individually. Parties – Purchaser and Seller and the Auctioneers and the Broker, collectively. Personal Property – The personal property located within the Real Property as of the Closing, a list of such personal property material to the sale, governed by this Contract,, is attached hereto. Real Property – Real land owned or possessed, identified in Section 4 below. Property – The Personal Property and Real Property purchased by Purchaser pursuant to this Contract. Purchase Price - The amount of money needed to purchase the Property. Purchaser – The party to this Contract set forth as the purchaser in number 1 above. Residence - Any address at which you dwell more than temporarily. Seller - The party to this Contract set forth as the seller in number 1 above. Selling Broker – c/o REAL ESTATE AUCTION ARIZONA, LLC WITH Designated Broker, Art Bale, 1030 S Barrel Cactus Ridge, Benson AZ 85602 Title Company – Pioneer Title, Benson AZ 85602. Earnest Money – 20% of purchase price from highest bidder, 500.00 Bid Deposit will be applied towards earnest money. Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 7 of 2

15 3.Agreed Upon Money Amounts a)Bid Price$_______________________ b)Buyer’s Premium 6 % of Highest Bid$_______________________ c)Purchase Price (Bid Price + Buyer’s Premium)$_______________________ i.Initial Earnest Money Deposit $_____20 % ____________ ii.Additional Earnest Money Paid by uncollected funds check$_______________________ d)Total Earnest Money Required (20% of Purchase Price)$_______________________ e)Balance of Purchase Price Due at Closing$_______________________ 4.The Property: At the price and on the terms set forth herein, Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, the Property. The Real Property included in the Property is that certain real estate commonly known as: # 37, 1030 S Barrel Cactus Ridge Benson AZ 85602 At any time, the legal description of the Property may be inserted herein by any Party hereto. 5.Agreement to Sell and Purchase. Purchaser agrees to purchase, and Seller agrees to sell, the Property at the Purchase Price set forth here in and upon the other terms and conditions contained in this Contract. Purchaser shall pay the Balance of Purchase Price due at Closing to the Escrow Agent (plus or minus proration's and Closing Costs and applicable sales tax) of the purchase and sale transaction contemplated herein (the “Closing”) by cashier’s check to the Escrow Agent. The Escrow Agent shall distribute the Purchase Price among Seller, the Auctioneers and the Broker in accordance with the auction agreement in place among Seller, Auctioneers, and Selling Broker. 6.All Cash Transaction. This is an all-cash sale and purchase; and is NOT contingent upon obtaining financing even though Purchaser may apply to a lending institution of Purchaser's choice for a mortgage loan and use such loan proceeds to pay a portion of the Purchase Price. Purchaser understands and agrees that neither their receipt of a commitment from such a lending institution, their acceptance of such a commitment, nor their satisfaction of any condition set forth in such a commitment shall in any way be conditions of Purchaser's obligations under this Contract. Seller makes no representation or warranty as to the availability of Purchaser financing. Seller will consider some owner financing for short term and for qualified purchaser(s). 7.Earnest Money. Purchaser has deposited the Initial Earnest Money set forth in Paragraph 3d) and the receipt of which is hereby acknowledged.. Purchaser acknowledges that TIME IS OF THE ESSENCE as regards this Contract and particularly with respect to the Closing. 8.Closing. The Closing shall be on or before _________________unless otherwise mutually agreed upon, provided title has been shown to be consistent with the provisions of Paragraph 16 of this Contract or is otherwise accepted by Purchaser, at the office of the Pioneer Title Company located at 363 West 4th St, Benson AZ 85602. Notwithstanding anything else in this Agreement which may be to the contrary, Seller shall be responsible for all listing brokerage & auctioneer fees (which does not include buyer’s premium which is part of the purchase price and is solely the Purchaser’s responsibility), as well as title insurance costs, real estate tax proration's, and State and County transfer taxes. Purchaser shall be responsible for recording costs and any escrow fees charged by the Title Company, as will as the buyer premium that is included in the sales price. 9.Delivery of Deed; Transfer of Title. At Closing, Seller shall execute and deliver to Purchaser, or cause to be executed and delivered to Purchaser, a recordable special warranty deed (or other appropriate deed if title is in trust or in an estate) with release of homestead rights subject only to the following, if any: building lines, covenants, conditions and restrictions of record; the Association Documents (as hereinafter defined); private, public and utility easements; roads and highways; special governmental taxes or assessments for improvements not yet completed; unconfirmed special governmental taxes or assessments; any matters that would be shown by a survey of the Real Property and general real estate taxes not yet due or payable, other matters of record not affecting marketability of title, and leases and tenancies, if any as set forth in the title commitment. Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 8 of 2 Within 20 days after auction

16 10.Condominium/Community Associations. If applicable, the parties agree that the terms contained in this Paragraph 10, which may be contrary to other terms of this Contract, shall supersede any conflicting terms. a)Purchaser acknowledges that the Residence will be subject to the benefits and obligation of a homeowners association (the “Association”). Purchaser acknowledges receipt of the following documents and information relating to the Association prior to or upon execution of this Contract: (a) the CC&Rs Declaration; (b) Articles of Incorporation and By-Laws of the Association; and (c) the proposed or current budget of the Association (collectively the “Association Documents”). This sale and Purchaser’s title to the Residence is subject to the terms and conditions of the Association Documents. Purchaser agrees that, from and after the date of Closing, Purchaser will comply with the provisions of and will perform all the obligations imposed on Property owners by the Association Documents. b)At Closing, Purchaser shall pay (i) an amount Pro-Rated by Pioneer Title for Annual Association Dues and Annual Cochise Terrace Facilities Fee for the Residence to the Association, said amount possibly including funds for start-up costs and working capital fund of the Association and (ii) Purchaser’s pro rata share of the assessments attributable to the Residence and due to the Association for the assessment period during which the Closing occurs. c)If the Residence is a condominium, Purchaser acknowledges that the Residence will be subject to the benefits and obligations of a condominium association (the “Condominium Association”) and Purchaser hereby acknowledges receipt of the following documents and information relating to the Condominium Association: (a) the Condominium Association Declaration; (b) the Articles of Incorporation and By-Laws of the Condominium Association; (c) the proposed or current budget of the Condominium Association; and (d) floor plan of the Residence; all of the foregoing documents are collectively referred to herein as the “Condominium Documents”). This sale and Purchaser’s title to the Property is subject to the terms and conditions of the Condominium Documents. Purchaser agrees that, from and after the date of Closing, Purchaser will comply with the provisions of and will perform all the obligations imposed on owners of Property within the Development by the Condominium Documents. 11.Possession. Seller shall surrender possession of the Property on the Closing Date, provided this sale has been closed. 12.Proration's. At closing, Purchaser shall receive a credit for real estate taxes for the unpaid real estate taxes not yet due based upon estimates from Pioneer Title. General real estate taxes shall be prorated THROUGH the date of closing. All prorations are final. All proration's shall be made through 11:59pm on the day of closing. Purchaser shall pay any sales tax due as a result of the sale of the Personal Property. 13.Commission. Seller shall pay, or cause to be paid, the commissions at Closing, as provided in the Auction Agreement in place between Seller and Auctioneer. The provisions of this Paragraph 13 shall survive the closing. 14.Brokers/Agency/Owner-Licensee Disclosure. Purchaser represents and warrants to Seller that no auctioneer or broker, other than Auctioneer and Real Estate Auctions Arizona LLC, (“Participating Broker”) was involved in showing, submitting or selling the Property to Purchaser. Purchaser agrees to indemnify and hold Seller, Auctioneer and Participating Broker harmless and defend them from any claim relating to Purchaser's purchase of the Property asserted against the Seller, Participating Broker or Auctioneer by any broker other than as set forth in this Paragraph 14. The provisions of this Paragraph 14 shall survive the closing. Purchaser acknowledges that Auctioneer and its licensed agents represent the Seller as Seller's agent in the sale of this Property and specifically do not represent the Purchaser. Auctioneer is dealing with Purchaser as a customer and not as a client, which confirms that Auctioneer has no fiduciary to the Purchaser. 15.Title/Survey. At least five days prior to Closing, with respect to the Real Property, Seller & Pioneer Title shall show to Purchaser or his agent evidence of merchantable title in the intended grantor by delivering a Commitment for Title Insurance issued by the Title Company bearing date on or subsequent to the date of the acceptance of this Contract, in the amount of the Purchase Price subject to no other exceptions than those listed in Paragraph 9 and to general exceptions contained in said commitment. Every Commitment for Title Insurance furnished by Seller hereunder shall be conclusive evidence of title as therein shown. If evidence of title discloses other exceptions, Seller shall have five (5) days from Seller’s receipt of evidence of title to cure such exceptions and notify Purchaser accordingly, and as to those exceptions which may be removed at closing by payment of money, Seller may have same removed at closing by using the proceeds of sale in payment thereof. 16.Default. a)Purchaser’s Default. At Seller’s option, Purchaser shall be in default under the terms of this Contract if, in addition to any other default specified herein, Purchaser shall: i)fail to close pursuant to the terms hereof; ii)fail to timely make any payment required of Purchaser hereunder; iii)fail to appear at the time and at Pioneer Title as designated by Seller as provided herein, to close the transaction; or iv)fail to enter into the escrow agreement described herein or to make the deposit at the times required thereunder. v)If Seller declares Purchaser in default pursuant to the terms herein, or if Purchaser fails or refuses to carry out any other obligation of Purchaser under the terms of this Contract and any supplemental agreements made a part hereof, or Purchaser defaults under any provision hereof, then, at Seller’s option, this contract is terminated, and, upon notice to Purchaser, the earnest money shall be forfeited and shared between Auctioneers and Seller in accordance with the agreement between them. Seller may also elect to assert against Purchaser any other remedy available, at law or in equity Purchaser Initial ___________ Purchaser Initial ____________ Seller Initial ___________ Seller Initial___________ Sales Contract No. 04202012-1 Page 9 of 2

17 17.Interpleader. If either party objects to the intended disposition in writing within the aforementioned 10-day grace period or at Auctioneer’s sole discretion and option, then the parties hereto agree that Auctioneer may deposit earnest money, less costs, with the Clerk of the Circuit Court of Cochise County, Arizona by the filing of an action in the nature of interpleader. The parties agree that Pioneer Title may be reimbursed from the earnest money for all costs, including reasonable attorney’s fees, relating to the filing of the interpleader and do hereby agree to indemnify, defend and hold Auctioneer harmless from any and all claims and demands, including the payment of reasonable attorney’s fees, costs and expenses arising out of such default claims and demands. 18.Inspection. Purchaser represents that either Purchaser or a duly authorized agent of Purchaser has inspected the Property and verified the facts and information contained in any materials provided to, or discovered by, Purchaser prior to bidding for the Property and executing this Contract. Except as otherwise expressly stated in this Contract), Purchaser warrants that Purchaser is purchasing the property and the contents thereof on an “as-is, where-is” basis, with no warranties of any kind, express or implied, either oral or written, whether of habitability, merchantability, fitness for a particular purpose, non-infringement, condition of improvements, environmental condition or otherwise made by seller or any agent of seller, including, but not limited to, information contained in any of Auctioneer’s sales materials, including but not limited to, the sales brochure or supplemental brochures and/or representations and warranties regarding zoning matters, the ability of the Purchaser to construct new improvements, the ability of Purchaser to remodel existing improvements, the availability of zoning variances, building and demolition permits or plats of consolidation and/or subdivision. Seller, Auctioneer, or any of their agents assumes no liability for inaccuracies, errors or omissions contained in any aforesaid sales materials provided to Purchaser. Utah law provides that every contract for the construction of a new home carries with it a warranty that when completed, the home will be free of latent defects and will be reasonably suited for its intended use as a home. The law further provides that this implied warranty of habitability does not have to be in writing to be part of the contract and it covers not only structural and mechanical defects such as may be found in the foundation, roof, masonry, heating, electrical and plumbing, but also any defects in workmanship which may not be easily seen or discovered upon an inspection or viewing of the property by purchaser. Utah law, however, also provides that a seller-builder and a purchaser may agree in writing, as here, that this implied warranty of habitability is not included as a part of their particular contract. Purchaser hereby agrees that in consideration of the transaction herein contemplated Purchaser waives the implied warranty of habitability described herein. IN NO EVENT SHALL SELLER OR AUCTIONEERS BE LIABLE TO PURCHASER OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL, EXEMPLARY, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR SIMILAR DAMAGES, WHETHER FORESEEABLE OR UNFORESEEABLE, REGARDLESS OF THE CAUSE OF ACTION ON WHICH THEY ARE BASED, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OCCURRING. WITH RESPECT TO THE SALE OF THE PERSONAL PROPERTY, IN NO EVENT SHALL R. WRIGHT, INC. BE LIABLE TO PURCHASER OR ANY THIRD PARTY FOR LOSSES IN EXCESS OF THE PORTION OF THE PURCHASE PRICE RECEIVED BY WRIGHT FOR THE PERSONAL PROPERTY IN ACCORDANCE WITH THIS AGREEMENT. Purchaser’s Initials _____ _____ 19.Purchaser’s Duty to Review. Purchaser acknowledges that Purchaser has not relied upon any sales plans, selling brochures, advertisements, representations, warranties, statements or estimates of any nature whatsoever, whether written or oral, made by Seller, Auctioneer or others, including, but not limited to, any relating to the description of physical condition of the Property, or the dimensions of the Property or any other physical dimensions thereof, the estimated sales or real estate taxes of the Property, the right to any income tax deduction for any real estate taxes or mortgage interest paid by Purchaser, or any other data, except as may be specifically represented herein. Purchaser has relied on his or her own examination and investigation thereof. No person has been authorized to make any representation on behalf of Seller. Purchaser agrees (a) to purchase the Property without offset or any claim against, or liability to, Seller or its agents, whether or not any layout or dimension of the Property or any part thereof, is accurate or correct, and (b) that Purchaser shall not be relieved of any of Purchaser’s obligations hereunder by reason of any minor inaccuracy or error. The provisions of this Paragraph 19 shall survive the Closing. 20.Material Destruction/Risk of Loss. If, prior to Closing, the Real Property shall be destroyed or materially damaged by fire or other casualty, this Contract shall, at the option of Purchaser exercised by notice to Seller within thirty (30) days after such destruction or damage, be null and void and all sums deposited by Purchaser hereunder including Earnest Money and prepaid charges for any changes shall be refunded to Purchaser. 21.Notices. All notices herein required shall be in writing and shall be served on the parties at their addresses set forth in Paragraph 1 above. The mailing of a notice by registered or certified mail, return receipt requested, shall be sufficient service when the notice is mailed. Notices may also be served by personal delivery or by the use of a facsimile machine with proof of transmission and a copy of the notice with proof of transmission being sent by regular mail on the date of transmission, and shall be effective upon personal delivery or upon confirmed fax transmission or verified email attachment, as the case may be. 22.Recording. Purchaser shall not record this Contract or any memorandum of this Contract and any such recording shall constitute a default by Purchaser hereunder. Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 10 of 2

18 23.Attorney Review. PURCHASER, BY ITS BIDDING FOR PROPERTY AND ITS EXECUTION OF THIS CONTRACT WARRANTS AND REPRESENTS TO BOTH SELLER AND AUCTIONEER THAT PURCHASER HAS CONSULTED WITH AND REVIEWED THIS CONTRACT WITH AN ATTORNEY PRIOR TO EXECUTING THIS CONTRACT. Purchaser further acknowledges that he has read and understands each and every part of this Contract. There shall be no amendments or modifications to this Contract by Purchaser or its counsel. Initials: Seller’s: _____ _____ Purchaser’s _____ _____ 24.Property Condition. The parties hereto acknowledge that Auctioneer is not obligated to and has not made any independent investigation of the condition of the Property including, but not limited to, the physical condition of the structure (exterior or interior), the fixtures, personal property and equipment therein, if any, or any environmental matters with respect thereto (collectively the "Physical Condition") nor is the Auctioneer competent or expert in such matters. The parties hereto further acknowledge that all investigations, reports and information with respect to the Physical Condition, if any, have been prepared by or for the Seller and have been furnished by Seller to the Auctioneer and in turn by the Auctioneer to Purchaser on behalf of Seller, who shall be solely responsible for all such information. 25.Disclosures. If applicable, prior to signing this Contract, Purchaser received and had an opportunity to review the following : None. Purchaser is responsible for performing a personal due diligence on this property and that has been completed. Furthermore, Purchaser represents that Purchaser was advised of their right, and had the opportunity, to conduct a risk assessment or inspection for the presence of radon and/or radon hazards, and hereby waives the opportunity to conduct a risk assessment or inspection for the presence of radon and/or radon hazards. 26.Request for Escrow. At the request of Seller or Purchaser, evidenced by written notice to the other party at any time prior to the date for delivery of deed hereunder, this sale shall be closed through an escrow with the Title Company, in accordance with the general provisions of the usual form of Deed and Money Escrow Agreement then furnished and in use by said company, with such special provisions inserted in the escrow agreement as may be required to conform with this Contract. Upon the creation of such an escrow, anything herein to the contrary notwithstanding, payment of purchase price and delivery of deed shall be made through the escrow and this Contract and the earnest money shall be deposited in the escrow and Auctioneer shall be made a party to the escrow with regard to commission due. The cost of the escrow shall be paid by the party requesting it. 27.Other Documents. Seller agrees to furnish an affidavit of title subject only to those items set forth herein, and an ALTA statement if required by Purchaser’s mortgagee, if any, a bill of sale and transfer tax declarations required. Seller and Purchaser agree to execute all other documents reasonably required by Title Company to close this sale and transfer title of the Property to Purchaser. 28.Existing Mortgage. Seller shall have the right to pay off any existing mortgage(s) out of the proceeds of this sale. 29.RESPA. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions of the Real Estate Settlement Procedures Act of 1974, as amended. 30.Stamp Taxes. If appropriate, Seller shall pay the amount of any stamp tax imposed by the state and county on the transfer of title to the Real Property, and shall furnish a completed declaration signed by the Seller or Seller’s agent in the form required by the state and county, and shall furnish any declaration signed by the Seller or Seller’s agent unless otherwise designated by any local ordinance with regard to a transfer or transaction tax. Any tax required by local ordinance shall be paid as required pursuant to such ordinance. 31.Personal Property on Premises. By date of possession Seller shall remove all debris and Seller’s personal property not conveyed by Bill of Sale to Purchaser from the premises. Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 11 of 2

19 32.Use of Pronouns. Wherever appropriate, the singular includes the plural and the masculine includes the feminine or the neuter. The term “Purchaser” shall be interpreted as “Purchasers” if more than one person is purchasing the Property, and their obligations shall be joint and several. 33.Successors, No Assignment. The provisions of this Contract shall bind and inure to the benefit of Purchaser and Purchaser’s heirs, legal representatives, successors and permitted assigns and shall bind and inure to the benefit of the Seller and its heirs, legal representatives, successors and assigns. This Contract may not be assigned, in whole or in part, by either party without the prior written consent from the other party. 34.Headings. The paragraph headings used herein are for the reader’s convenience only and they shall not be used to interpret the meaning of the terms set forth herein. 35.Exhibits. Exhibits attached hereto are incorporated as a part of this Contract. 36.Governing Law. The parties agree that any litigation or dispute concerning the enforcement of this Contract shall be brought in the State of Utah, the jurisdiction shall be the County of Morgan, and that Utah law shall govern its interpretation. 37.Severability. If any provision of this Contract is invalid or unenforceable as against any party under certain circumstances, the remainder of this Contract and the applicability of such provision to other persons or circumstances shall not be affected thereby. Each provision of this Contract, except as otherwise herein provided shall be valid and enforced to the fullest extent permitted by law. 38.Complete Agreement. This Contract sets forth the entire understanding between the parties relating to the transactions described herein, there being no terms, conditions, warranties or representations other than those contained herein. This Contract may be amended only in an instrument signed by both parties hereto. The parties intend that faxed signatures and that a faxed Contract containing the signatures (original or faxed) of all parties is binding on the parties and the foregoing shall also apply to PDF computer files sent as email attachments. At the request of either party, any faxed or PDF scanned document sent by email attachment subject to this paragraph 41 shall be re-executed by both parties in an original form. Neither party shall raise the use of a facsimile machine or scanned PDF file email attachment as a defense to this Contract and shall forever waive such defense. 39.Invalidity. The invalidity of any covenant, grant, condition or provision of this Contract shall not impair or affect in any manner the validity, enforceability or effect of the remainder of the Contract. 40.Residence Completion. In the event Purchaser has agreed to purchase an incomplete Residence and Seller has agreed to complete the Residence, pursuant to Paragraph 3 hereof, in such event the Residence shall be constructed and delivered to Purchaser on the Closing Date substantially completed. Purchaser understands and agrees that materials used in construction and completion may vary somewhat from any samples provided; such variances are inherent in manufacturing and shall not be grounds for any refusal by Purchaser to accept the Residence. Purchaser further agrees that upon delivery of the Residence in a substantially complete condition Seller shall have no further obligation to perform any other work within the Residence including, without limitation, any “punch list” type items. Seller and Purchaser acknowledge and agree that the cost of the substantial completion of the Residence is included within the Purchase Price. 41.Counterpart Execution. This Contract may be executed in counterparts, each of which will be deemed an original document, but all of which will constitute a single document. This Contract will not be binding on or constitute evidence of a contract between the Seller and Purchaser until such time as a counterpart of this Contract has been executed by each party to it and a copy of thereof delivered to the other party to this Contract. 42.IN WITNESS WHEREOF, the parties have executed this Contract on the dates set forth below their signatures. SELLER:ApprovalPURCHASER: _______________________________________________________________________________________ Seller SignaturePurchaser Signature _______________________________________________________________________________________ Seller SignaturePurchaser Signature _____________________________________________________________________________________ Print Seller(s) Name(s)Print Purchaser(s) Name(s) ____________________________________________ Date of Acceptance AUCTIONEER: Name: ______________________________________ Email: ______________________________________ Phone: _____________________________________ Purchaser Initial ______________ Purchaser Initial ______________ Seller Initial ______________ Seller Initial______________ Sales Contract No. 04202012-1 Page 12 of 2

20 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 PART 3 Deposit Wiring Instructions POINT OF CONTACT For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 1 of 3

21 For Detailed Information, On-site Inspection and Auction Information, Call Art Bale, 520-720-0824 Page 2 of 3

Download ppt "BIDDER’S INFORMATION PACKAGE TO BE SOLD SUBJECT TO MINIMUM BID OF: For Detailed Information, On-site Inspection and Auction Information, Call Art Bale,"

Similar presentations

Ads by Google