ON-LINE REAL ESTATE AUCTION
TERMS & CONDITIONS
HARRY ELLISON ESTATE
RACHEL ELLISON, OWNER
1905 PLEASANT VALLEY AVENUE
UNION CITY, TN 38261
ON-LINE ONLY AUCTION!
BIDDING ENDS THURSDAY, SEPTEMBER 23RD, 2021 AT 5:00 P.M.
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES WEBSITE (www.alexanderauctions.com) TO OBTAIN A BID NUMBER.
PLEASE REVIEW ALL ONLINE TERMS PRIOR TO BIDDING
1. Alexander Auctions & Real Estate Sales is commissioned by Mrs. Rachael Ellison to sell this real estate at Auction.
2. Real Estate: Residence and Land located at 1905 PLEASANT VALLEY AVENUE, UNION CITY, TN 38261
Being Lot No. 6 in Section A of Rolling Acres Subdivision, as shown on plat of the same recorded in Plat Book 6, page 55, in the Register’s Office of Obion County, Tennessee, to which reference is here made.
3. Deed Reference: Record Book 27, Pages 169 in the Register’s Office of Obion County, TN.
Tax MAP 058P, GROUP A, PARCEL 006.00 in Obion County Tax Assessor’s Office.
Property located in the 13th Civil District of Obion County, Tennessee.
4. Taxes to be prorated to date of closing based on the 2020 Obion County Property Taxes: $452.00
2020 City of Union City Taxes: $599.00
5. BUYER’S PREMIUM: A 10% buyer's premium will be added to the final bid on the real estate to reach the total sales price and total contract price.
6. BIDDING INCREMENTS: Alexander Auctions will set the bidding increments. The bidding software will calculate the next bid amount before you submit the bid. Alexander Auctions retains the right to change bidding increments at any time.
7. PURCHASE AGREEMENT: After the close of the Auction, the successful bidder will be emailed a Sales and Purchase Agreement/Contract to be returned to Alexander Auctions & Real Estate Sales within 24 hours of completion of the Auction, along with the earnest money deposit.
8. Bidder should review these terms and conditions, Sales & Purchase Agreement (Contract) and Real Estate Exhibits.
2
9. EARNEST MONEY: The successful bidder is required to make an earnest money deposit of 20%
of the contract price deposit (non-refundable), within 24 hours after the Auction closes, when
the Purchase Agreement is signed.
10. Earnest money payable by cash, wire transfer, cashier’s check or personal check with current
Bank Letter of Guarantee made to Alexander Auctions & Real Estate Sales to Alexander Auctions
& Real Estate Escrow. No credit card payments accepted.
11. Payment by Check with Letter of Guarantee from Bank, Cashier’s Check or Wire Transfer (plus
$20 for Wire Fee).
12. Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e.,
financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender
prior to bidding if you require financing. This property is being sold for cash “as-is, where-is”
with a closing deadline.
13. CLOSING DATE: Balance of the Purchase Price shall be due on or before 30 days from date of
auction.
14. Sellers retain the right to conduct and hold a public or online auction on this property before
and until the possession date.
15. Prospective purchaser(s) should inspect and review the property to become familiar with the
property divisional lines and the physical condition of the residence and complete their own due
diligence research.
16. CONDITIONS OF SALE: Property is being offered in an Online Only Auction.
17. TIME EXTENSION: Alexander Auctions & Real Estate Sales Online Auctions have an auto-extend
feature.
18. EXTEND-ALL FEATURE: Alexander Auctions & Real Estate Sales Online Auctions are timed
events and all bidding will close at a specific time. Alexander Auctions & Real Estate Sales have
an auto-extend feature. Any bid placed in the final five minutes of an auction, the auction
ending will be automatically extended five (5) minutes from the time the bid was placed.
Example: If an auction scheduled to close at 12:00 receives a bid at 11:56 the close time will
automatically extend to 12:05. The auto-extend feature remains active until no further bids are
received within a five (5) minute time frame.
19. TIME INCREASE OR DECREASE: Alexander Auctions & Real Estate Sales my increase or decrease
the extended time amount at any time during the auction until the close of bidding.
20. REFRESH BIDDING: Refresh your screen constantly during the closing minutes of the bidding or
enable the “auto-refresh” feature.
21. COMPLIANCE WITH THE TERMS OF SALE: Successful Bidder and or Buyer 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 and or Buyer fails to submit
the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder and
or buyer shall pay to Alexander Auctions & Real Estate Sales ad damages, an amount equal to
3
the Buyer’s premium or commission percentage as set forth in said Contract, and any and all
expenses incurred by the said Alexander Auctions & Real Estate Sales for said auction. Should
buyer’s earnest money check be returned for any reason whatsoever, this shall constitute an
item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also
pay an additional penalty of five percent (5%) of the earnest money check to Alexander Auctions
& Real Estate Sales. Buyer shall also pay a reasonable attorney’s fee and costs incurred in the
collection of these monies owed by Buyer as a result of Buyer’s default. Buyer shall also pay the
Seller any damages caused by said breach of contract, including attorney’s fees and costs. This
shall not preclude the Seller from suing for specific performance of the Contract of Sale, in
addition to said damages. It is specifically understood and agreed by and between the Seller
and Alexander Auctions & Real Estate Sales that in the event the Buyer should default in the
terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums
therefore, shall be paid first to the agent for the Buyer’s premium or commission percentage,
and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in
Weakley County, Tennessee. Alexander Auctions & Real Estate Sales reserves the right to sell to
the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or
Buyer do not comply with the terms of the sale. By bidding on the property, buyer agrees to all
terms and conditions set forth. The contract is required to be fully and correctly completed,
without any modifications and properly signed. A contract that is incomplete, incorrect, or
modified in any respect, is considered to be in default.
22. Failure to pay the balance due at closing will require Buyer to forfeit the earnest money and is
subject to all Terms stated in the Purchase Agreement/Purchase Contract.
23. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your
behalf, including any lender you involve, you may be declared in breach of this contract, forfeit
all deposits made and could additionally be liable for any and all cost incurred, in a subsequent
resale of the property, by Seller and Alexander Auctions & Real Estate Sales. If such action
occurs, Alexander Auctions & Real Estate Sales 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 the auctioneer’s commission, cost of Auction, cost
incurred by Seller, labor cost and additional cost of Auction as not defined in this agreement.
These liquidated damages do not restrict the Seller from suing the buyer for performance
damages and/or any additional damages the Seller suffers by the default of the buyer.
24. Possession of the property given upon delivery of deed at closing.
25. TITLE: Deed transfer will be by a warranty deed as specified in the Purchase Contract
Agreement.
26. Property will be sold according to the legal description in the owner’s deed.
27. No New Survey will be provided by the Seller.
28. Purchaser and purchaser’s representatives have had the opportunity to inspect this property
and agree all bids are made subject to their inspections and due diligence results and purchase
said property as a result of their inspection.
29. Alexander Auctions & Real Estate Sales and Seller has not made, does not make, and expressly
disclaims, any warranties, representations, covenants or guarantees, expressed or implied or
4
arising out by operation of law, as to the merchantability, habitability, quantity, quality or
environmental condition of the property or its suitability or fitness for any particular purpose or
particular use.
30. Property and improvements are being sold in their present condition “as is”. No improvements
will be made. There are no warranties or guarantees expressed or implied as to condition or
fitness for use. The warranties of habitability and fitness for a particular purpose and particular
use are expressly excluded.
31. AUCTIONEER’S DISCRETION: Alexander Auctions & Real Estate Sales has full discretion to
modify date and time, order and details of the Auction for any reason or no reason at all,
including but not limited to technical issues, emergencies and convenience of Alexander
Auctions & Real Estate Sales or the Seller. Alexander Auctions & Real Estate Sales reserves the
right to modify, change or remove usernames at any time.
32. SERVER & SOFTWARE TECHNICAL ISSUES: In the event that there are technical difficulties
related to the server, software or any other online Auction related technology, Alexander
Auctions & Real Estate Sales reserves the right to extend bidding, continue the bidding or close
the bidding. Neither the company providing the software nor Alexander Auctions & Real Estate
Sales will be held responsible for a missed bid or the failure of the software to function properly
for any reason.
33. AGENCY: Alexander Auctions & Real Estate Sales agents and representatives are agents for the
Seller. Buyer and or Bidder agrees to hold harmless and indemnify Alexander Auctions & Real
Estate Sales and its representatives from any and all claims, damages or suits including but not
limited to awards, judgments, costs, fees, etc.
34. BACK-UP BIDS: If you are not the successful bidder on the real estate and wish to make a backup
bid in case of default by the high bidder, please contact Alexander Auctions & Real Estate
Sales to receive a back-up bidder form. Email notification may be sent to registered bidders
with updated information as deemed necessary by Alexander Auctions & Real Estate Sales.
35. Bidders who bid off-site and do not make an inspection understand and acknowledge that they
may not be able to inspect the property as well as if they examined it in person. It is the
bidder’s responsibility to determine condition, age, genuineness, value or any other
determinative factor.
36. Alexander Auctions & Real Estate Sales reserves the right to remove or cancel the bids and or
bidding rights and privileges of any party at any time deemed not to be in the best interest of
the Seller. The identity of all bidders will be verified, bidding rights are provisional and if
complete verification is not possible, Alexander Auctions & Real Estate Sales will reject the
registration, and bidding activity will be terminated.
37. AUCTION CANCELLATION – BID REJECTION: Alexander Auctions & Real Estate Sales reserves
the right to reject any and all bids for any reason. Alexander Auctions & Real Estate Sales
reserves the right to cancel this auction, or remove any item or lot from this auction prior to the
close of bidding even if a bid has been placed.
38. ACCEPTANCE OF BID PRICES: ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED
AS ABSOLUTE. The auctioneer and/or Seller shall make the sole and final decision as to the
5
winning high bid amount. Acceptance by the online bidding platform does not necessarily
constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required
to enter into a purchase agreement contract immediately following the close of the Auction.
Alexander Auctions & Real Estate Sales will email documents to be executed and fax or email
back to Alexander Auctions & Real Estate Sales within 24 hours of the end of the auction.
Successful Bidder and or Buyer(s) not executing and returning contracts with earnest money
deposit within 24 hours will be considered in default. Alexander Auctions & Real Estate Sales
reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder
and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the
contract with no changes, modification, additions or deletion.
39. ALEXANDER AUCTIONS & REAL ESTATE SALES INVOLVEMENT IN THIS CONTRACT: The Seller
and buyer hereby agree that Alexander Auctions & Real Estate Sales is a part of this contract and
shall receive compensation as stated in the agreement hereto or as stated in the listing
agreement hereby made a part of.
40. Prerequisite to bidding is that the Real Estate is purchased absolutely “as is” with no warranty
whatsoever as to the condition of the same.
41. No one should make a bid that he/she does not want to honor or is not financially able to honor.
42. No purchase or bid is contingent on financing, appraisals, property or home inspections or any
other contingencies.
43. Purchasers should contact their attorney or title company to complete their Title Opinion
immediately. Contract does not provide for an extension due to an attorney or title company
failing to complete Title Work or your loan closing not being set up in time to meet the forty-five
(45) day closing period.
44. RESTRICTIONS: All real estate sells subject to any and all existing matter of records, easements,
city, county and state, building, use or zoning laws and restrictions.
45. ADDITIONAL AUCTION INFORMATION: 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 Auctioneer. 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, rights-of-way, or any other information that can be
obtained as public record in the appropriate County Courthouse concerning subject
properties.
46. Internet Bidders who desire to make certain their bid is acknowledged should leave their
maximum bid 24 hours before the Auction ends. Email notifications may be sent to registered
bidders with updated information as deemed necessary by Alexander Auctions & Real Estate
Sales.
47. TERMINOLOGY: As the context may require in these terms (1) the singular shall mean the plural
and vice versa; (2) all pronouns shall mean and include the person, entity, firm or corporation to
which they relate.
6
48. No personal property is included with the real estate.
49. If you have any problems with the website, call Marknet Customer Service at 1-888-307-6545
and/or Alexander Auctions & Real Estate Sales at (731) 587-4244 or (731) 225-1157.
50. Property is being sold subject to these terms which will be attached to the Purchase and Sale
Agreement/Contract for future reference.
51. Real Estate Brokers and Agents must comply with the attached Broker Participation Rules to
register a client by filling out the required Broker Participation Form and returning the form
within the required time.
52. All bidders agree and accept these terms and conditions and agree to bid according to these
terms when they register for a bid number.
WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY
HAVE.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, TN 38237
Office: 731-587-4244 * Email: [email protected]
7
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only
increase by the minimum increment, but will automatically rises to your maximum bid as others
bid up the lot over time.
Forced Bid - “Jumping the Bid” is a bidding strategy by which a bidder increases the bid by more
than the next accepted bid (placing your bid at $150 when the accepted bid is $125). This
practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item
at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it
does so at their own discretion. The auction company will not lower the price of an item that has
been won by a “jumped” bid with no other competing bids.
Extended/Dynamic Bidding: Auctions may extend the bidding time on any lot that gets a bid
within a certain amount of time of its scheduled closing time. The auction will remain open for
those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in
the final 5 minutes will close at the normal time. The auctioneer will determine the number of
minutes necessary to activate dynamic bidding ahead of time.
WE APPRECIATE YOUR ATTENDING/PARTICIPATING IN THE ONLINE AUCTION AND WILL BE GLAD TO
ANSWER ANY QUESTIONS YOU MAY HAVE. VISIT OUR WEBSITE FOR UPCOMING AUCTIONS:
www.alexanderauctions.com
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, TN 38237
Office: 731-587-4244 * Email: [email protected]
1
GENERAL ON-LINE BIDDING TERMS & CONDITIONS
HARRY ELLISON ESTATE ONLINE AUCTION
RACHAEL ELLISON, OWNER
PERSONAL PROPERTY & COLLECTIBLES
ENDING THURSDAY – SEPT. 23RD – 6 P.M.
1905 PLEASANT VALLEY AVENUE
UNION CITY, TN 38261
THIS IS AN ONLINE ONLY AUCTION
ALL BIDDERS MUST REVIEW THESE AUCTION TERMS AND CONDITIONS AND AGREE TO ENTER BIDS ACCORDING TO THESE TERMS AND CONDITIONS.
1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND PLACE OF SALE FROM THE AUCTION BLOCK. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION BLOCK OR DURING THE ONLINE AUCTION PROCESS SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
2. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS” AND “WHERE-IS” AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS.
NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.
3. CONDITION OF ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE, BUT THE AUCTIONEER SHALL NOT BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, AUTHENTICITY, GENUINENESS OF OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO ALLOWANCES WILL BE MADE OR SALE SET ASIDE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING OR ANY IMPERFECTION NOT NOTED.
NO DEDUCTION WILL BE ALLOWED ON DAMAGED ARTICLES AS ALL GOODS HAVE BEEN PHOTOGRAPHED AND ARE SOLD “AS IS” AND WITHOUT RECOURSE.
4. BUYER’S PREMIUM:
A. 10% BUYER’S PREMIUM ADDED TO FINAL BID OF EACH ITEM TO REACH THE TOTAL SALES PRICE FOR ALL ITEMS PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, OR WIRE TRANSFER.
2
B. 15% BUYER’S PREMIUM ADDED TO THE FINAL BID OF EACH ITEM PAID FOR BY VISA AND MASTER-CARD ONLY. VISA AND MASTERCARD ARE ONLY ACCEPTED UP TO $500.00 FOR AN INDIVIDUAL PURCHASE OR TOTAL PURCHASE INCLUDING BUYER’S PREMIUM.
BID INCREMENTS: $1 TO $50 ~ $1
$51 TO $100 ~ $2.50
$101 TO $200 ~ $5
$201 TO $500 ~ $10
$501 TO 1,000 ~ $25
$1,001 TO 5,000 ~ $50
$5,001 TO 10,000 ~ 100
5. REMOVAL TERMS: NO PICKUP ON AUCTION DAY –SEPTEMBER 23RD, 2021. ALL ONSITE PICKUPS BY APPOINTMENT THROUGH ALEXANDER AUCTIONS – CALL (731) 587-4244 AND SCHEDULE
FRIDAY - SEPTEMBER 24TH, 2021 ~ 9:00 A.M. TO 4:30P.M.
SATURDAY - SEPTEMBER 24TH, 2021 ~ 9:00 A.M. TO 4:30 P.M.
6. BRING YOUR OWN LOADING HELP FOR FURNITURE AND ALL OTHER ITEMS.
7. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES.
8. ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BID UNTIL ACCEPTED BY THE AUCTIONEER. ALL BIDS ARE ACCEPTED AT THE SOLE DISCRETION OF THE AUCTIONEER.
9. ALL BIDS SHALL BE DEEMED PENDING UNTIL DULY ACCEPTED BY THE AUCTIONEER.
10. THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH, IN THE AUCTIONEER’S SOLE DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION, INCLUDING BUT NOT LIMITED TO NOMINAL, SUSPICIOUS AND/OR SUSPECT ADVANCES.
11. AUCTION HAS STAGGERED ENDING TIME STARTING ON SEPTEMBER 23RD , 2021 AT 6 P.M..
12. THERE IS A 5 MINUTE EXTENDED BIDDING PERIOD. IF BIDS ARE PLACED ON A LOT WITHIN THE LAST 5 MINUTES OF THE CLOSING TIME, BIDDING ON THAT LOT WILL EXTEND FOR AN ADDITIONAL 5 MINUTES.ALEXANDER AUCTIONS RETAIN THE OPTION AND RIGHT TO INCREASE OR DECREASE THE EXTENDED BIDDING MINUTES.
13. THE COMPUTER RECOGNIZES THE FIRST HIGHEST BID. SOMETIMES BIDS ARE SECONDS APART.
14. CONSIDER PLACING YOUR MAX BID EARLY, BEFORE THE LAST FEW MINUTES.
15. IF YOU ARE THE SUCCESSFUL BIDDER, YOU AGREE TO PAY THE AMOUNT OF YOUR BID PLUS ALL PREMIUMS IN ACCORDANCE WITH ALL WRITTEN AND ORAL TERMS AND CONDITIONS OF THE AUCTION.
16. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASONS.
3
17. THE AUCTIONEER SHALL HAVE SOLE DISCRETION IN DECIDING THE SUCCESSFUL BIDDER IN THE EVENT OF A BIDDING DISPUTE. AUCTIONEER’S DETERMINATION OF THE SUCCESSFUL BIDDER SHALL BE THE FINAL DETERMINATION OF THE SUCCESSFUL BIDDER.
18. BY PLACING A BID, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS WHICH ARE SET FORTH BY ALEXANDER AUCTIONS & REAL ESTATE SALES AND EXPRESSLY ACKNOWLEDGE AND AFFIRM THAT YOU HAVE READ AND ARE FAMILIAR WITH THESE TERMS AND CONDITIONS.
19. ALL SALES ARE FINAL UPON THE DETERMINATION OF THE SUCCESSFUL BIDDER BY THE AUCTIONEER. NO SALES CAN BE CANCELLED. NO ITEMS CAN BE RETURNED.
20. BY PLACING A BID, YOU ACKNOWLEDGE THAT YOUR BID IS A LEGALLY BINDING OFFER TO PURCHASE THE ITEM OR PROPERTY BEING AUCTIONED.
21. TIME SHALL BE OF THE ESSENCE.
22. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES.
23. PAYMENT: ALL PURCHASES MUST BE PAID ON OR BEFORE SEPTEMBER 24TH, 2021 AT 4:30 P.M. YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION, UP TO MAXIMUM OF $500.00, UNLESS ALEXANDER HAS APPROVED YOU TO SEND A CHECK WITH LETTER OF GUARANTEE, CASHIERS CHECK OR WIRE TRANSFER (PLUS $20 FOR WIRE FEE) . ALL BUYERS AGREE TO PAY FOR THEIR PURCHASES NO LATER THAN THE DAY AFTER AUCTION CLOSES. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, CASHIER'S BANK CHECK, CERTIFIED BANK CHECK OR PERSONAL CHECK WITH IRREVOCABLE BANK LETTER OF GUARANTEE TO ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS & REAL ESTATE SALES IN ADVANCE.
24. BANK LETTER OF GUARANTEE MUST BE MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES AND NOT TO “WHOM IT MAY CONCERN”. LETTERS MUST STATE THAT YOUR BANK OR INSTITUTION WILL GUARANTEE A CHECK UP TO $__________ (AMOUNT TO BE INSERTED). (DO NOT INCLUDE AMOUNT IN YOUR CHECKING ACCOUNT OR SAVINGS ACCOUNT.) **SEE SAMPLE BANK LETTER OF GUARANTEE ON ALEXANDER AUCTIONS & REAL ESTATE SALES’ WEBSITE.
25. PURCHASER AGREES NOT TO STOP PAYMENT ON CHECKS, CREDIT CARDS OR DISALLOW A BANK DRAFT. PURCHASER IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK OR NON-PAYMENT. IN THE EVENT OF NON-PAYMENT OF BAD CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS THE MERCHANDISE INVOLVED AT ANY TIME AT YOUR LOCATION.
26. NO FURNITURE OR ANY OTHER ITEMS WILL BE SHIPPED OR HAULED.
27. THE CLOSING TIME OF THE AUCTION WILL HAVE STAGGERED ENDINGS TO PROVIDE BIDDER AN OPPORTUNITY TO BID ON ALL ITEMS.
LOTS 1 THROUGH 100 WILL BEGIN CLOSING AT 6 P.M.
LOTS 101 THROUGH 300 WILL BEGIN CLOSING AT 8:00 P.M.
28. THE SUCCESSFUL PURCHASER AGREES TO PAY ANY AND ALL REASONABLE ATTORNEY FEES AND COSTS
INCURRED BY THE AUCTION COMPANY, THE SELLER AND/OR THEIR SERVANTS, AGENTS OR EMPLOYEES IN
THE COMMENCEMENT OR DEFENSE OF ANY ACTIONS HEREUNDER AS WELL AS IN THE COLLECTION OF ANY OBLIGATIONS HEREUNDER.
4
29. VENUE & JURISDICTION OF ANY AND ALL DISPUTES WHICH MAY ARISE BY VIRTUE OF THIS AUCTION SALE OR STEMMING FROM THIS AUCTION SALE SHALL BE IN THE STATE COURT OF WEAKLEY COUNTY, TENNESSEE.
30. CHOICE OF LAW: THE LAW OF THE STATE OF TENNESSEE SHALL GOVERN THE INTERPRETATION OF ANY AND ALL DISPUTES OR OTHER MATTERS RELATING TO THE SUBJECT SALE AND/OR STEMMING FROM THIS AUCTION SALE.
31. BIDDER ACKNOWLEDGES THAT NO RELATIONSHIP OF ANY NATURE OR TYPE, AGENT, EMPLOYEE, INDEPENDENT CONTRACTOR OR OTHERWISE, IS CREATED BETWEEN BIDDER AND AUCTIONEER, AFFILIATED AUCTION COMPANIES, AFFILIATED SOFTWARE COMPANIES AND/OR ANY SERVANT, AGENT OR EMPLOYEE OF THE SAME BY BIDDER’S PARTICIPATION IN THIS AUCTION.
32. DISCLAIMER OR WARRANTIES: THERE ARE NO UNDERSTANDINGS, AGREEMENTS, REPRESENTATIONS OR WARRANTIES, EXPRESSED OR IMPLIED NOT SPECIFIED HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREUNDER, INCLUDING BUT NOT LIMITED TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.
33. PURCHASES MAY BE PICKED UP AT 1905 PLEASANT VALLEY AVENUE, UNION CITY, TN 38261 THE DAY FOLLOWING THE AUCTION, FRIDAY, SEPTEMBER 24TH, 2021 AND SATURDAY, SEPTEMBER 25TH, 2021 BY APPOINTMENT. CALL ALEXANDER AUCTIONS & REAL ESTATE SALES AFTER AUCTION ENDS (731-587-4244).
34. NOTIFY ALEXANDER AUCTIONS & REAL ESTATE SALES (731) 587-4244 WHEN YOU PLAN TO COME PICKUP ITEMS.
35. REGISTER ONLINE AT WWW.ALEXANDERAUCTIONS.COM. WHEN YOU REGISTER YOU ARE AGREEING TO THESE TERMS.
36. TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION, YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE. YOUR CREDIT CARD ON FILE WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR THE FULL AMOUNT OF THE WINNING HAMMER PRICE, PLUS PREMIUMS, SUBJECT TO CREDIT CARD LIMITED PAYMENT. IF YOUR CREDIT CARD IS DENIED, THERE WILL BE A $30.00 CHARGE.
37. SHIPPING: SHIPPING WILL BE CHARGED AFTER ITEM(S) ARE BOXED AND READY TO SHIP. THESE CHARGES WILL BE BILLED SEPARATELY.
38. BIDDING: EXECUTE YOUR BIDS AT WWW.ALEXANDERAUCTIONS.COM. ALL BIDS MUST BE RAISED IN INCREMENTS. BIDS CANNOT BE RETRACTED. WHEN YOU PLACE A BID, THE BIDDER IS LEGALLY OBLIGATED TO PURCHASE THE ITEM IF THEIR BID IS THE SUCCESSFUL HIGH AMOUNT. BIDDERS MAY PLACE A “MAX BID” ON ANY ITEM, MEANING YOUR BID WILL BE AUTOMATICALLY RAISED TO THE NEXT INCREMENT WHEN NEEDED.
39. SALES TAX WILL NOT BE COLLECTED IN THIS AUCTION.
40. ALL ITEMS ARE IN USED CONDITION AND BEING SOLD “AS IS” “WHERE IS” AND WITHOUT RECOURSE AND WITH NO WARRANTY, GUARANTY AS TO OPERATING CONDITION, PHYSICAL CONDITION FOR A PARTICULAR PURPOSE OR FITNESS FOR USE. YOU SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND AND BE SATISFIED WITH THEIR CONDITION. ARTICLES ARE NOT WARRANTED AS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THEREFROM.
41. ITEMS ARE USED AND ARE NOT GUARANTEED TO BE PERFECT. MAKE ALL BIDS KNOWING THAT ITEMS MAY BE CHIPPED, WORN, DAMAGED AND NOT IN WORKING ORDER.
5
42. COMPLIANCE WITH THE TERMS OF SALE: IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW, MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO AFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FURTHER NOTICE REQUIRED TO THE BUYER ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.
43. BIDDERS WHO BID OFF-SITE OR PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR AND PLACE THEIR BID ACCORDINGLY.
44. ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET BIDDING AS A SERVICE TO THE BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
45. DESCRIPTION TAKES PRECEDENCE OVER THE PICTURES.
46. ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. INSURE YOUR ITEMS IMMEDIATELY.
47. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU HAVE DECIDED THAT YOU DO NOT WANT IT OR YOU DECIDE YOU HAVE OVERPAID FOR IT. IF YOU PURCHASE AN ITEM
AND DO NOT PAY FOR IT, THEN WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.
48. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT PROPERTY IS PURCHASED AT PUBLIC AUCTION AND THAT A PREREQUISITE TO BIDDING IS THAT ALL PROPERTY, WHETHER REAL OR PERSONAL, IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.
49. BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THE TERMS AND CONDITIONS. ADDITIONAL TERMS, WHICH MAY BE POSTED OR ANNOUNCED FROM THE AUCTION BLOCK ARE JUST AS BINDING AS THE PRINTED TERMS AND CONDITIONS.
50. INDEMNIFICATION: PURCHASER SHALL DEFEND AND INDEMNIFY AND HOLD AUCTIONEER AND SELLER HARMLESS FROM AND AGAINST ALL CLAIMS AND LIABILITIES RELATING TO THE CONDITION OF, REMOVAL OF, OR USE OF THE ARTICLES PURCHASED OR FAILURE OF USER TO FOLLOW INSTRUCTIONS, WARNINGS OR RECOMMENDATIONS OF THE MANUFACTURER, OR TO COMPLY WITH FEDERAL, STATE, AND LOCAL LAWS APPLICABLE TO SUCH ARTICLES, INCLUDING OSHA REQUIREMENTS, AND ENVIRONMENTAL PROTECTION
6
AGENCY REQUIREMENTS, OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES, COSTS OR LEGAL EXPENSES ARISING THERE FROM.
51. INDEPENDENT CONTRACTOR: THE AUCTIONEER IS ACTING AS AN INDEPENDENT CONTRACTOR ONLY AND IS NOT RESPONSIBLE FOR THE ACTS OF ITS PRINCIPALS OR SELLERS.
52. RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.
53. NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.
54. ADDITIONAL TERMS AND CONDITIONS: ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE WEBSITE PRIOR TO AND DURING THE AUCTION.
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically rises to your maximum bid as others bid up the lot over time.
Forced Bid - “Jumping the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the accepted bid is $125). This practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.
Extended/Dynamic Bidding: Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The auction will remain open for those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in the final 5 minutes will close at the normal time. The auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
WE APPRECIATE YOUR ATTENDING/PARTICIPATING IN THE ONLINE AUCTION AND WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE. VISIT OUR WEBSITE FOR UPCOMING AUCTIONS: www.alexanderauctions.com
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, Tennessee
Office: 731-587-4244 * Email: [email protected]
TERMS & CONDITIONS
HARRY ELLISON ESTATE
RACHEL ELLISON, OWNER
1905 PLEASANT VALLEY AVENUE
UNION CITY, TN 38261
ON-LINE ONLY AUCTION!
BIDDING ENDS THURSDAY, SEPTEMBER 23RD, 2021 AT 5:00 P.M.
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES WEBSITE (www.alexanderauctions.com) TO OBTAIN A BID NUMBER.
PLEASE REVIEW ALL ONLINE TERMS PRIOR TO BIDDING
1. Alexander Auctions & Real Estate Sales is commissioned by Mrs. Rachael Ellison to sell this real estate at Auction.
2. Real Estate: Residence and Land located at 1905 PLEASANT VALLEY AVENUE, UNION CITY, TN 38261
Being Lot No. 6 in Section A of Rolling Acres Subdivision, as shown on plat of the same recorded in Plat Book 6, page 55, in the Register’s Office of Obion County, Tennessee, to which reference is here made.
3. Deed Reference: Record Book 27, Pages 169 in the Register’s Office of Obion County, TN.
Tax MAP 058P, GROUP A, PARCEL 006.00 in Obion County Tax Assessor’s Office.
Property located in the 13th Civil District of Obion County, Tennessee.
4. Taxes to be prorated to date of closing based on the 2020 Obion County Property Taxes: $452.00
2020 City of Union City Taxes: $599.00
5. BUYER’S PREMIUM: A 10% buyer's premium will be added to the final bid on the real estate to reach the total sales price and total contract price.
6. BIDDING INCREMENTS: Alexander Auctions will set the bidding increments. The bidding software will calculate the next bid amount before you submit the bid. Alexander Auctions retains the right to change bidding increments at any time.
7. PURCHASE AGREEMENT: After the close of the Auction, the successful bidder will be emailed a Sales and Purchase Agreement/Contract to be returned to Alexander Auctions & Real Estate Sales within 24 hours of completion of the Auction, along with the earnest money deposit.
8. Bidder should review these terms and conditions, Sales & Purchase Agreement (Contract) and Real Estate Exhibits.
2
9. EARNEST MONEY: The successful bidder is required to make an earnest money deposit of 20%
of the contract price deposit (non-refundable), within 24 hours after the Auction closes, when
the Purchase Agreement is signed.
10. Earnest money payable by cash, wire transfer, cashier’s check or personal check with current
Bank Letter of Guarantee made to Alexander Auctions & Real Estate Sales to Alexander Auctions
& Real Estate Escrow. No credit card payments accepted.
11. Payment by Check with Letter of Guarantee from Bank, Cashier’s Check or Wire Transfer (plus
$20 for Wire Fee).
12. Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e.,
financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender
prior to bidding if you require financing. This property is being sold for cash “as-is, where-is”
with a closing deadline.
13. CLOSING DATE: Balance of the Purchase Price shall be due on or before 30 days from date of
auction.
14. Sellers retain the right to conduct and hold a public or online auction on this property before
and until the possession date.
15. Prospective purchaser(s) should inspect and review the property to become familiar with the
property divisional lines and the physical condition of the residence and complete their own due
diligence research.
16. CONDITIONS OF SALE: Property is being offered in an Online Only Auction.
17. TIME EXTENSION: Alexander Auctions & Real Estate Sales Online Auctions have an auto-extend
feature.
18. EXTEND-ALL FEATURE: Alexander Auctions & Real Estate Sales Online Auctions are timed
events and all bidding will close at a specific time. Alexander Auctions & Real Estate Sales have
an auto-extend feature. Any bid placed in the final five minutes of an auction, the auction
ending will be automatically extended five (5) minutes from the time the bid was placed.
Example: If an auction scheduled to close at 12:00 receives a bid at 11:56 the close time will
automatically extend to 12:05. The auto-extend feature remains active until no further bids are
received within a five (5) minute time frame.
19. TIME INCREASE OR DECREASE: Alexander Auctions & Real Estate Sales my increase or decrease
the extended time amount at any time during the auction until the close of bidding.
20. REFRESH BIDDING: Refresh your screen constantly during the closing minutes of the bidding or
enable the “auto-refresh” feature.
21. COMPLIANCE WITH THE TERMS OF SALE: Successful Bidder and or Buyer 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 and or Buyer fails to submit
the signed Contract for Sale of Real Estate and earnest money deposit, the winning bidder and
or buyer shall pay to Alexander Auctions & Real Estate Sales ad damages, an amount equal to
3
the Buyer’s premium or commission percentage as set forth in said Contract, and any and all
expenses incurred by the said Alexander Auctions & Real Estate Sales for said auction. Should
buyer’s earnest money check be returned for any reason whatsoever, this shall constitute an
item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also
pay an additional penalty of five percent (5%) of the earnest money check to Alexander Auctions
& Real Estate Sales. Buyer shall also pay a reasonable attorney’s fee and costs incurred in the
collection of these monies owed by Buyer as a result of Buyer’s default. Buyer shall also pay the
Seller any damages caused by said breach of contract, including attorney’s fees and costs. This
shall not preclude the Seller from suing for specific performance of the Contract of Sale, in
addition to said damages. It is specifically understood and agreed by and between the Seller
and Alexander Auctions & Real Estate Sales that in the event the Buyer should default in the
terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums
therefore, shall be paid first to the agent for the Buyer’s premium or commission percentage,
and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in
Weakley County, Tennessee. Alexander Auctions & Real Estate Sales reserves the right to sell to
the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or
Buyer do not comply with the terms of the sale. By bidding on the property, buyer agrees to all
terms and conditions set forth. The contract is required to be fully and correctly completed,
without any modifications and properly signed. A contract that is incomplete, incorrect, or
modified in any respect, is considered to be in default.
22. Failure to pay the balance due at closing will require Buyer to forfeit the earnest money and is
subject to all Terms stated in the Purchase Agreement/Purchase Contract.
23. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your
behalf, including any lender you involve, you may be declared in breach of this contract, forfeit
all deposits made and could additionally be liable for any and all cost incurred, in a subsequent
resale of the property, by Seller and Alexander Auctions & Real Estate Sales. If such action
occurs, Alexander Auctions & Real Estate Sales 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 the auctioneer’s commission, cost of Auction, cost
incurred by Seller, labor cost and additional cost of Auction as not defined in this agreement.
These liquidated damages do not restrict the Seller from suing the buyer for performance
damages and/or any additional damages the Seller suffers by the default of the buyer.
24. Possession of the property given upon delivery of deed at closing.
25. TITLE: Deed transfer will be by a warranty deed as specified in the Purchase Contract
Agreement.
26. Property will be sold according to the legal description in the owner’s deed.
27. No New Survey will be provided by the Seller.
28. Purchaser and purchaser’s representatives have had the opportunity to inspect this property
and agree all bids are made subject to their inspections and due diligence results and purchase
said property as a result of their inspection.
29. Alexander Auctions & Real Estate Sales and Seller has not made, does not make, and expressly
disclaims, any warranties, representations, covenants or guarantees, expressed or implied or
4
arising out by operation of law, as to the merchantability, habitability, quantity, quality or
environmental condition of the property or its suitability or fitness for any particular purpose or
particular use.
30. Property and improvements are being sold in their present condition “as is”. No improvements
will be made. There are no warranties or guarantees expressed or implied as to condition or
fitness for use. The warranties of habitability and fitness for a particular purpose and particular
use are expressly excluded.
31. AUCTIONEER’S DISCRETION: Alexander Auctions & Real Estate Sales has full discretion to
modify date and time, order and details of the Auction for any reason or no reason at all,
including but not limited to technical issues, emergencies and convenience of Alexander
Auctions & Real Estate Sales or the Seller. Alexander Auctions & Real Estate Sales reserves the
right to modify, change or remove usernames at any time.
32. SERVER & SOFTWARE TECHNICAL ISSUES: In the event that there are technical difficulties
related to the server, software or any other online Auction related technology, Alexander
Auctions & Real Estate Sales reserves the right to extend bidding, continue the bidding or close
the bidding. Neither the company providing the software nor Alexander Auctions & Real Estate
Sales will be held responsible for a missed bid or the failure of the software to function properly
for any reason.
33. AGENCY: Alexander Auctions & Real Estate Sales agents and representatives are agents for the
Seller. Buyer and or Bidder agrees to hold harmless and indemnify Alexander Auctions & Real
Estate Sales and its representatives from any and all claims, damages or suits including but not
limited to awards, judgments, costs, fees, etc.
34. BACK-UP BIDS: If you are not the successful bidder on the real estate and wish to make a backup
bid in case of default by the high bidder, please contact Alexander Auctions & Real Estate
Sales to receive a back-up bidder form. Email notification may be sent to registered bidders
with updated information as deemed necessary by Alexander Auctions & Real Estate Sales.
35. Bidders who bid off-site and do not make an inspection understand and acknowledge that they
may not be able to inspect the property as well as if they examined it in person. It is the
bidder’s responsibility to determine condition, age, genuineness, value or any other
determinative factor.
36. Alexander Auctions & Real Estate Sales reserves the right to remove or cancel the bids and or
bidding rights and privileges of any party at any time deemed not to be in the best interest of
the Seller. The identity of all bidders will be verified, bidding rights are provisional and if
complete verification is not possible, Alexander Auctions & Real Estate Sales will reject the
registration, and bidding activity will be terminated.
37. AUCTION CANCELLATION – BID REJECTION: Alexander Auctions & Real Estate Sales reserves
the right to reject any and all bids for any reason. Alexander Auctions & Real Estate Sales
reserves the right to cancel this auction, or remove any item or lot from this auction prior to the
close of bidding even if a bid has been placed.
38. ACCEPTANCE OF BID PRICES: ALL BIDS ARE SUBJECT TO SELLER CONFIRMATION UNLESS NOTED
AS ABSOLUTE. The auctioneer and/or Seller shall make the sole and final decision as to the
5
winning high bid amount. Acceptance by the online bidding platform does not necessarily
constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required
to enter into a purchase agreement contract immediately following the close of the Auction.
Alexander Auctions & Real Estate Sales will email documents to be executed and fax or email
back to Alexander Auctions & Real Estate Sales within 24 hours of the end of the auction.
Successful Bidder and or Buyer(s) not executing and returning contracts with earnest money
deposit within 24 hours will be considered in default. Alexander Auctions & Real Estate Sales
reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder
and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the
contract with no changes, modification, additions or deletion.
39. ALEXANDER AUCTIONS & REAL ESTATE SALES INVOLVEMENT IN THIS CONTRACT: The Seller
and buyer hereby agree that Alexander Auctions & Real Estate Sales is a part of this contract and
shall receive compensation as stated in the agreement hereto or as stated in the listing
agreement hereby made a part of.
40. Prerequisite to bidding is that the Real Estate is purchased absolutely “as is” with no warranty
whatsoever as to the condition of the same.
41. No one should make a bid that he/she does not want to honor or is not financially able to honor.
42. No purchase or bid is contingent on financing, appraisals, property or home inspections or any
other contingencies.
43. Purchasers should contact their attorney or title company to complete their Title Opinion
immediately. Contract does not provide for an extension due to an attorney or title company
failing to complete Title Work or your loan closing not being set up in time to meet the forty-five
(45) day closing period.
44. RESTRICTIONS: All real estate sells subject to any and all existing matter of records, easements,
city, county and state, building, use or zoning laws and restrictions.
45. ADDITIONAL AUCTION INFORMATION: 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 Auctioneer. 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, rights-of-way, or any other information that can be
obtained as public record in the appropriate County Courthouse concerning subject
properties.
46. Internet Bidders who desire to make certain their bid is acknowledged should leave their
maximum bid 24 hours before the Auction ends. Email notifications may be sent to registered
bidders with updated information as deemed necessary by Alexander Auctions & Real Estate
Sales.
47. TERMINOLOGY: As the context may require in these terms (1) the singular shall mean the plural
and vice versa; (2) all pronouns shall mean and include the person, entity, firm or corporation to
which they relate.
6
48. No personal property is included with the real estate.
49. If you have any problems with the website, call Marknet Customer Service at 1-888-307-6545
and/or Alexander Auctions & Real Estate Sales at (731) 587-4244 or (731) 225-1157.
50. Property is being sold subject to these terms which will be attached to the Purchase and Sale
Agreement/Contract for future reference.
51. Real Estate Brokers and Agents must comply with the attached Broker Participation Rules to
register a client by filling out the required Broker Participation Form and returning the form
within the required time.
52. All bidders agree and accept these terms and conditions and agree to bid according to these
terms when they register for a bid number.
WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY
HAVE.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, TN 38237
Office: 731-587-4244 * Email: [email protected]
7
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only
increase by the minimum increment, but will automatically rises to your maximum bid as others
bid up the lot over time.
Forced Bid - “Jumping the Bid” is a bidding strategy by which a bidder increases the bid by more
than the next accepted bid (placing your bid at $150 when the accepted bid is $125). This
practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item
at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it
does so at their own discretion. The auction company will not lower the price of an item that has
been won by a “jumped” bid with no other competing bids.
Extended/Dynamic Bidding: Auctions may extend the bidding time on any lot that gets a bid
within a certain amount of time of its scheduled closing time. The auction will remain open for
those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in
the final 5 minutes will close at the normal time. The auctioneer will determine the number of
minutes necessary to activate dynamic bidding ahead of time.
WE APPRECIATE YOUR ATTENDING/PARTICIPATING IN THE ONLINE AUCTION AND WILL BE GLAD TO
ANSWER ANY QUESTIONS YOU MAY HAVE. VISIT OUR WEBSITE FOR UPCOMING AUCTIONS:
www.alexanderauctions.com
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, TN 38237
Office: 731-587-4244 * Email: [email protected]
1
GENERAL ON-LINE BIDDING TERMS & CONDITIONS
HARRY ELLISON ESTATE ONLINE AUCTION
RACHAEL ELLISON, OWNER
PERSONAL PROPERTY & COLLECTIBLES
ENDING THURSDAY – SEPT. 23RD – 6 P.M.
1905 PLEASANT VALLEY AVENUE
UNION CITY, TN 38261
THIS IS AN ONLINE ONLY AUCTION
ALL BIDDERS MUST REVIEW THESE AUCTION TERMS AND CONDITIONS AND AGREE TO ENTER BIDS ACCORDING TO THESE TERMS AND CONDITIONS.
1. THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND PLACE OF SALE FROM THE AUCTION BLOCK. THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS FROM THE AUCTION BLOCK OR DURING THE ONLINE AUCTION PROCESS SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
2. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS” AND “WHERE-IS” AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS.
NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.
3. CONDITION OF ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE, BUT THE AUCTIONEER SHALL NOT BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, AUTHENTICITY, GENUINENESS OF OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO ALLOWANCES WILL BE MADE OR SALE SET ASIDE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING OR ANY IMPERFECTION NOT NOTED.
NO DEDUCTION WILL BE ALLOWED ON DAMAGED ARTICLES AS ALL GOODS HAVE BEEN PHOTOGRAPHED AND ARE SOLD “AS IS” AND WITHOUT RECOURSE.
4. BUYER’S PREMIUM:
A. 10% BUYER’S PREMIUM ADDED TO FINAL BID OF EACH ITEM TO REACH THE TOTAL SALES PRICE FOR ALL ITEMS PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, OR WIRE TRANSFER.
2
B. 15% BUYER’S PREMIUM ADDED TO THE FINAL BID OF EACH ITEM PAID FOR BY VISA AND MASTER-CARD ONLY. VISA AND MASTERCARD ARE ONLY ACCEPTED UP TO $500.00 FOR AN INDIVIDUAL PURCHASE OR TOTAL PURCHASE INCLUDING BUYER’S PREMIUM.
BID INCREMENTS: $1 TO $50 ~ $1
$51 TO $100 ~ $2.50
$101 TO $200 ~ $5
$201 TO $500 ~ $10
$501 TO 1,000 ~ $25
$1,001 TO 5,000 ~ $50
$5,001 TO 10,000 ~ 100
5. REMOVAL TERMS: NO PICKUP ON AUCTION DAY –SEPTEMBER 23RD, 2021. ALL ONSITE PICKUPS BY APPOINTMENT THROUGH ALEXANDER AUCTIONS – CALL (731) 587-4244 AND SCHEDULE
FRIDAY - SEPTEMBER 24TH, 2021 ~ 9:00 A.M. TO 4:30P.M.
SATURDAY - SEPTEMBER 24TH, 2021 ~ 9:00 A.M. TO 4:30 P.M.
6. BRING YOUR OWN LOADING HELP FOR FURNITURE AND ALL OTHER ITEMS.
7. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES.
8. ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BID UNTIL ACCEPTED BY THE AUCTIONEER. ALL BIDS ARE ACCEPTED AT THE SOLE DISCRETION OF THE AUCTIONEER.
9. ALL BIDS SHALL BE DEEMED PENDING UNTIL DULY ACCEPTED BY THE AUCTIONEER.
10. THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH, IN THE AUCTIONEER’S SOLE DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION, INCLUDING BUT NOT LIMITED TO NOMINAL, SUSPICIOUS AND/OR SUSPECT ADVANCES.
11. AUCTION HAS STAGGERED ENDING TIME STARTING ON SEPTEMBER 23RD , 2021 AT 6 P.M..
12. THERE IS A 5 MINUTE EXTENDED BIDDING PERIOD. IF BIDS ARE PLACED ON A LOT WITHIN THE LAST 5 MINUTES OF THE CLOSING TIME, BIDDING ON THAT LOT WILL EXTEND FOR AN ADDITIONAL 5 MINUTES.ALEXANDER AUCTIONS RETAIN THE OPTION AND RIGHT TO INCREASE OR DECREASE THE EXTENDED BIDDING MINUTES.
13. THE COMPUTER RECOGNIZES THE FIRST HIGHEST BID. SOMETIMES BIDS ARE SECONDS APART.
14. CONSIDER PLACING YOUR MAX BID EARLY, BEFORE THE LAST FEW MINUTES.
15. IF YOU ARE THE SUCCESSFUL BIDDER, YOU AGREE TO PAY THE AMOUNT OF YOUR BID PLUS ALL PREMIUMS IN ACCORDANCE WITH ALL WRITTEN AND ORAL TERMS AND CONDITIONS OF THE AUCTION.
16. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASONS.
3
17. THE AUCTIONEER SHALL HAVE SOLE DISCRETION IN DECIDING THE SUCCESSFUL BIDDER IN THE EVENT OF A BIDDING DISPUTE. AUCTIONEER’S DETERMINATION OF THE SUCCESSFUL BIDDER SHALL BE THE FINAL DETERMINATION OF THE SUCCESSFUL BIDDER.
18. BY PLACING A BID, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS WHICH ARE SET FORTH BY ALEXANDER AUCTIONS & REAL ESTATE SALES AND EXPRESSLY ACKNOWLEDGE AND AFFIRM THAT YOU HAVE READ AND ARE FAMILIAR WITH THESE TERMS AND CONDITIONS.
19. ALL SALES ARE FINAL UPON THE DETERMINATION OF THE SUCCESSFUL BIDDER BY THE AUCTIONEER. NO SALES CAN BE CANCELLED. NO ITEMS CAN BE RETURNED.
20. BY PLACING A BID, YOU ACKNOWLEDGE THAT YOUR BID IS A LEGALLY BINDING OFFER TO PURCHASE THE ITEM OR PROPERTY BEING AUCTIONED.
21. TIME SHALL BE OF THE ESSENCE.
22. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES.
23. PAYMENT: ALL PURCHASES MUST BE PAID ON OR BEFORE SEPTEMBER 24TH, 2021 AT 4:30 P.M. YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION, UP TO MAXIMUM OF $500.00, UNLESS ALEXANDER HAS APPROVED YOU TO SEND A CHECK WITH LETTER OF GUARANTEE, CASHIERS CHECK OR WIRE TRANSFER (PLUS $20 FOR WIRE FEE) . ALL BUYERS AGREE TO PAY FOR THEIR PURCHASES NO LATER THAN THE DAY AFTER AUCTION CLOSES. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, CASHIER'S BANK CHECK, CERTIFIED BANK CHECK OR PERSONAL CHECK WITH IRREVOCABLE BANK LETTER OF GUARANTEE TO ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS & REAL ESTATE SALES IN ADVANCE.
24. BANK LETTER OF GUARANTEE MUST BE MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES AND NOT TO “WHOM IT MAY CONCERN”. LETTERS MUST STATE THAT YOUR BANK OR INSTITUTION WILL GUARANTEE A CHECK UP TO $__________ (AMOUNT TO BE INSERTED). (DO NOT INCLUDE AMOUNT IN YOUR CHECKING ACCOUNT OR SAVINGS ACCOUNT.) **SEE SAMPLE BANK LETTER OF GUARANTEE ON ALEXANDER AUCTIONS & REAL ESTATE SALES’ WEBSITE.
25. PURCHASER AGREES NOT TO STOP PAYMENT ON CHECKS, CREDIT CARDS OR DISALLOW A BANK DRAFT. PURCHASER IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK OR NON-PAYMENT. IN THE EVENT OF NON-PAYMENT OF BAD CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS THE MERCHANDISE INVOLVED AT ANY TIME AT YOUR LOCATION.
26. NO FURNITURE OR ANY OTHER ITEMS WILL BE SHIPPED OR HAULED.
27. THE CLOSING TIME OF THE AUCTION WILL HAVE STAGGERED ENDINGS TO PROVIDE BIDDER AN OPPORTUNITY TO BID ON ALL ITEMS.
LOTS 1 THROUGH 100 WILL BEGIN CLOSING AT 6 P.M.
LOTS 101 THROUGH 300 WILL BEGIN CLOSING AT 8:00 P.M.
28. THE SUCCESSFUL PURCHASER AGREES TO PAY ANY AND ALL REASONABLE ATTORNEY FEES AND COSTS
INCURRED BY THE AUCTION COMPANY, THE SELLER AND/OR THEIR SERVANTS, AGENTS OR EMPLOYEES IN
THE COMMENCEMENT OR DEFENSE OF ANY ACTIONS HEREUNDER AS WELL AS IN THE COLLECTION OF ANY OBLIGATIONS HEREUNDER.
4
29. VENUE & JURISDICTION OF ANY AND ALL DISPUTES WHICH MAY ARISE BY VIRTUE OF THIS AUCTION SALE OR STEMMING FROM THIS AUCTION SALE SHALL BE IN THE STATE COURT OF WEAKLEY COUNTY, TENNESSEE.
30. CHOICE OF LAW: THE LAW OF THE STATE OF TENNESSEE SHALL GOVERN THE INTERPRETATION OF ANY AND ALL DISPUTES OR OTHER MATTERS RELATING TO THE SUBJECT SALE AND/OR STEMMING FROM THIS AUCTION SALE.
31. BIDDER ACKNOWLEDGES THAT NO RELATIONSHIP OF ANY NATURE OR TYPE, AGENT, EMPLOYEE, INDEPENDENT CONTRACTOR OR OTHERWISE, IS CREATED BETWEEN BIDDER AND AUCTIONEER, AFFILIATED AUCTION COMPANIES, AFFILIATED SOFTWARE COMPANIES AND/OR ANY SERVANT, AGENT OR EMPLOYEE OF THE SAME BY BIDDER’S PARTICIPATION IN THIS AUCTION.
32. DISCLAIMER OR WARRANTIES: THERE ARE NO UNDERSTANDINGS, AGREEMENTS, REPRESENTATIONS OR WARRANTIES, EXPRESSED OR IMPLIED NOT SPECIFIED HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREUNDER, INCLUDING BUT NOT LIMITED TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.
33. PURCHASES MAY BE PICKED UP AT 1905 PLEASANT VALLEY AVENUE, UNION CITY, TN 38261 THE DAY FOLLOWING THE AUCTION, FRIDAY, SEPTEMBER 24TH, 2021 AND SATURDAY, SEPTEMBER 25TH, 2021 BY APPOINTMENT. CALL ALEXANDER AUCTIONS & REAL ESTATE SALES AFTER AUCTION ENDS (731-587-4244).
34. NOTIFY ALEXANDER AUCTIONS & REAL ESTATE SALES (731) 587-4244 WHEN YOU PLAN TO COME PICKUP ITEMS.
35. REGISTER ONLINE AT WWW.ALEXANDERAUCTIONS.COM. WHEN YOU REGISTER YOU ARE AGREEING TO THESE TERMS.
36. TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION, YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE. YOUR CREDIT CARD ON FILE WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR THE FULL AMOUNT OF THE WINNING HAMMER PRICE, PLUS PREMIUMS, SUBJECT TO CREDIT CARD LIMITED PAYMENT. IF YOUR CREDIT CARD IS DENIED, THERE WILL BE A $30.00 CHARGE.
37. SHIPPING: SHIPPING WILL BE CHARGED AFTER ITEM(S) ARE BOXED AND READY TO SHIP. THESE CHARGES WILL BE BILLED SEPARATELY.
38. BIDDING: EXECUTE YOUR BIDS AT WWW.ALEXANDERAUCTIONS.COM. ALL BIDS MUST BE RAISED IN INCREMENTS. BIDS CANNOT BE RETRACTED. WHEN YOU PLACE A BID, THE BIDDER IS LEGALLY OBLIGATED TO PURCHASE THE ITEM IF THEIR BID IS THE SUCCESSFUL HIGH AMOUNT. BIDDERS MAY PLACE A “MAX BID” ON ANY ITEM, MEANING YOUR BID WILL BE AUTOMATICALLY RAISED TO THE NEXT INCREMENT WHEN NEEDED.
39. SALES TAX WILL NOT BE COLLECTED IN THIS AUCTION.
40. ALL ITEMS ARE IN USED CONDITION AND BEING SOLD “AS IS” “WHERE IS” AND WITHOUT RECOURSE AND WITH NO WARRANTY, GUARANTY AS TO OPERATING CONDITION, PHYSICAL CONDITION FOR A PARTICULAR PURPOSE OR FITNESS FOR USE. YOU SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND AND BE SATISFIED WITH THEIR CONDITION. ARTICLES ARE NOT WARRANTED AS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THEREFROM.
41. ITEMS ARE USED AND ARE NOT GUARANTEED TO BE PERFECT. MAKE ALL BIDS KNOWING THAT ITEMS MAY BE CHIPPED, WORN, DAMAGED AND NOT IN WORKING ORDER.
5
42. COMPLIANCE WITH THE TERMS OF SALE: IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW, MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO AFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FURTHER NOTICE REQUIRED TO THE BUYER ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.
43. BIDDERS WHO BID OFF-SITE OR PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR AND PLACE THEIR BID ACCORDINGLY.
44. ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET BIDDING AS A SERVICE TO THE BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
45. DESCRIPTION TAKES PRECEDENCE OVER THE PICTURES.
46. ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. INSURE YOUR ITEMS IMMEDIATELY.
47. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU HAVE DECIDED THAT YOU DO NOT WANT IT OR YOU DECIDE YOU HAVE OVERPAID FOR IT. IF YOU PURCHASE AN ITEM
AND DO NOT PAY FOR IT, THEN WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.
48. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT PROPERTY IS PURCHASED AT PUBLIC AUCTION AND THAT A PREREQUISITE TO BIDDING IS THAT ALL PROPERTY, WHETHER REAL OR PERSONAL, IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.
49. BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THE TERMS AND CONDITIONS. ADDITIONAL TERMS, WHICH MAY BE POSTED OR ANNOUNCED FROM THE AUCTION BLOCK ARE JUST AS BINDING AS THE PRINTED TERMS AND CONDITIONS.
50. INDEMNIFICATION: PURCHASER SHALL DEFEND AND INDEMNIFY AND HOLD AUCTIONEER AND SELLER HARMLESS FROM AND AGAINST ALL CLAIMS AND LIABILITIES RELATING TO THE CONDITION OF, REMOVAL OF, OR USE OF THE ARTICLES PURCHASED OR FAILURE OF USER TO FOLLOW INSTRUCTIONS, WARNINGS OR RECOMMENDATIONS OF THE MANUFACTURER, OR TO COMPLY WITH FEDERAL, STATE, AND LOCAL LAWS APPLICABLE TO SUCH ARTICLES, INCLUDING OSHA REQUIREMENTS, AND ENVIRONMENTAL PROTECTION
6
AGENCY REQUIREMENTS, OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES, COSTS OR LEGAL EXPENSES ARISING THERE FROM.
51. INDEPENDENT CONTRACTOR: THE AUCTIONEER IS ACTING AS AN INDEPENDENT CONTRACTOR ONLY AND IS NOT RESPONSIBLE FOR THE ACTS OF ITS PRINCIPALS OR SELLERS.
52. RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.
53. NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.
54. ADDITIONAL TERMS AND CONDITIONS: ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE WEBSITE PRIOR TO AND DURING THE AUCTION.
EXPLANATION OF WAYS TO BID:
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically rises to your maximum bid as others bid up the lot over time.
Forced Bid - “Jumping the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150 when the accepted bid is $125). This practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The auction company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.
Extended/Dynamic Bidding: Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The auction will remain open for those lots until no bids are placed in the allotted amount of time. All lots not receiving a bid in the final 5 minutes will close at the normal time. The auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
WE APPRECIATE YOUR ATTENDING/PARTICIPATING IN THE ONLINE AUCTION AND WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE. VISIT OUR WEBSITE FOR UPCOMING AUCTIONS: www.alexanderauctions.com
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER CAI, Auctioneer TL 9
239 University Street, Martin, Tennessee
Office: 731-587-4244 * Email: [email protected]