ROPERTY ADDRESS: 537 Oak Terrace, Farmington, MO
PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE TERMS FOR SALE OF REAL ESTATE, DO NOT BID.
AUCTION END TIMES: West Central Auction Company Online Auctions are timed events and all bidding will close at specified time West Central Auction Company, Online Auctions also have an auto extend feature. Any bid placed in the final 3 minutes of an auction, the auction ending will be automatically extended 3 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:02.The auto extend feature remains active until no further bids are received within a 3 minute time frame.
ORDER OF SALE: Offering - The real estate will be offered in one tract, as a whole by the dollar. Bid price + 10% Buyer's Premium = Contract price.
RESTRICTIONS: Subject only to all City of Farmington, St Francois County and State of Missouri laws, ordinances and regulations. Also selling to all easements of record. Seller is placing no restrictions on the property. The owner does warrant that they have good merchantable title to the real estate and that they will convey the same with a warranty deed, free from all encumbrances, liens or judgments at the time of closing.
AUCTION CONTRACT: Please note that the Auction Contract you will execute at of the close of the auction will be drawn up based on the manner in which you bid. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.
WEST CENTRAL AUCTION CO. INVOLVEMENT IN THIS CONTRACT: The seller and buyer hereby agree that West Central Auction Co. is a part of this contract and shall receive compensation as stated in agreement hereto or as stated in listing agreement hereby made a part of.
SPECIAL NOTES: All property is being sold As Is, Where Is with no warranty written or implied by West Central Auction Co. or by the sellers.
SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract today.
CLOSING COST: Seller will prepare a warranty deed. Seller agrees to furnish at Sellers expense an Owner's Policy of Title Insurance in the amount of the purchase price. Seller and Buyer shall pay their share of the costs of closing.
CLOSING LOCATION/AGENT: Closing agent Preferred Land Title, Farmington, MO 63640.
TAXES: Taxes will be prorated to the day of closing.
BUYER'S PREMIUM: A 10% Buyer's Premium will be added to your final bid to equal the contract price.
Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by West Central Auction Company and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. West Central Auction Company reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
LIQUIDATED DAMAGES: If buyer chooses not to close within stated time herein and no written extension has been granted by the seller, the buyer will forfeit all the deposit. If such action occurs, West Central Auction Co. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.
POSSESSION: Purchaser shall receive possession of property at closing.
CONFIRMATION: Selling subject to owner's confirmation.
All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, right-of-ways, or any other information that can be obtained as public record in the St. Francois County Court House and the City of Farmington concerning subject properties
West Central Auction Co. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller).
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, West Central Auction Company, reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor WEST CENTRAL AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by West Central Auction Company.