ONLINE ONLY
October 29th at 8am - November 5th at 2pm
PROPERTY ADDRESS
Haven Heights Subdivision
McDowell County
INSPECTIONS
At Buyers Leisure and Liability
PROJECT MANAGER
Will Lilly
[email protected]
PROPERTY DESCRIPTION
| Lot # | Title | Description |
| 1 | 1.18+/- Acres on Star & Haven Heights Dr. | Parcel 171100798079 Phase 3 Lot 88 |
| 2 | 2.79+/- Acres on Star Dr. | Parcel 171100795193 Lot 77 Phs. III-B |
| 3 | 2.67+/- Acres on Star Dr. | Parcel 171100791200 Lot 75 Phs. III-B |
| 4 | 1.06+/- Acres on Star Dr. | Parcel 171100783748 Lot 73 Phs. III-B |
| 5 | 1.33+/- Acres on Star and Big Sky Dr. | Parcel 171100786713 Lot 78 Phs. III-B |
| 6 | 1.33+/- Acres on Big Sky Dr. | Parcel 171100785447 Lot 79 Phs. III-B |
| 7 | 1.9+/- Acres on Big Sky Dr | Parcel 171100782518 Lot 72 Phs. III-B |
| 8 | 2.16+/- Acres on Big Sky Dr | Parcel 171100781305 Lot 71 Phs. III-B |
| 9 | 1.26+/- Acres on Big Sky Dr | Parcel 171100783240 Lot 80 Phs. III-B |
| 10 | 2.63+/- Acres on Big Sky Dr | Parcel 171100688232 Lot 70 Phs. III-B |
| 11 | 2.14+/- Acres on Big Sky Dr | Parcel 171100686052 Lot 69 Phs. III-B |
| 12 | 1.55+/- Acres on Big Sky Dr | Parcel 171100672469 Lot 66 Phs. III-B |
| 13 | 1.29+/- Acres on Juniper Ln | Parcel 171100675497 Lot 64 Phs. III-B |
| 14 | 1.48+/- Acres on Juniper Ln | Parcel 171100678337 Lot 63 Phs. III-B |
| 15 | 1.8+/- Acres on Haven Heights Dr | Parcel 171100773450 Lot 99 Phs. III-B |
| 16 | 1.57+/- Acres on Haven Heights Dr | Parcel 171100774556 Lot 98 Phs. III-B |
| 17 | 1.82+/- Acres on Haven Heights Dr | Parcel 171100777916 Lot 96 Phs. III-B |
| 18 | 1.27+/- Acres on Haven Heights Dr | Parcel 171100784173 Lot 85 Phs. III-B |
| 19 | 1.6+/- Acres Haven Heights Dr | Parcel 1171100888145 Lot 94 Phs. III-B |
| 20 | 1.44+/- Acres on Haven Heights Dr | Parcel 171100652996 Lpt 56 Phs. III-B |
| 21 | 1.37+/- Acres on Haven Heights Dr | Parcel 17110654439 Lot 142 Phs. IV-B |
| 22 | 1.33+/- Acres on Haven Heights Dr | Parcel 171100654308 Lot 141 Phs. IV-B |
| 24 | 1.02+/- Acres on Haven Heights Dt | Parcel 171104548609 lot 38 Phs. III |
| 25 | 1.05+/- Acres on Haven Heights Dr | Parcel 171104547536 Lot 37 Phs. III |
| 26 | 1.05+/- Acres on Haven Heights Dr | Parcel 171104546473 Lot 36 Phs. II |
| 27 | 1.07+/- Acres Haven Ridge Ln N. | Parcel 171104530593 Lot 28 Phs. II |
| 28 | 2.09+/- Acres on Haven Ridge Ln. N. | Parcel 171114438423 Lot 49 Phs. II |
| 29 | 1.86+/- Acres on Haven Ridge Ln. S. | Parcel 171114436089 Lot 50 Phs. II |
| 30 | 1.86+/- Acres on Haven Ridge Ln. S. | Parcel 171114429977 Lot 4 Phs. I |
| 31 | 1.02+/- Acres on Haven Ridge Ln. S. | Parcel 171114429779 Lot 3 Phs. I |
| 32 | 1.25+/- Acres on Haven Ridge Ln. S. | Parcel 171114425588 Lot 2 Phs. 1 |
| 33 | 1.38+/- Acres on Foxwood Dr | Parcel 171118426338 Lot 1 Phs. 1 |
| 34 | 2.17+/- Acres on Foxwood Dr | Parcel 171104526596 Commons Phs. IV-B |
| 35 | 2.18+/- Acres on Woodchuck Ln | Parcel 171104721945 Lot 23 Phs. I |
| 36 | 3.78+/- Acres on Woodchuck Ln | Parcel 171104720920 Lot 114 Phs. IV-A |
| 37 | 1.04+/- Acres on Woodchuck Ln | Parcel 171104620294 Lot 24 Phs. IV-B |
| 38 | 1.03+/- Acres on Magic Creek Ln | Parcel 171104528214 Lot 104 Phs. IV-B |
| 39 | 1.86+/- Acres on Magic Creek Ln | Parcel 171104529530 Lot 105 Phs. IV-B |
| 40 | 2.71+/- Acres on Woodchuck Ln | Parcel 171104621776 Lot 106 Phs. IV-B |
| 41 | 1.51+/- Acres on Magic Creek Ln | Parcel 171104528779 Lot 107 Phs. IV-B |
| 42 | 1.35+/- Acres on Magic Creek Ln | Parcel 171104538005 Lot 109 Phs. IV-B |
| 43 | 1.16+/- Acres on Magic Creek Ln | Parcel 171104525935 Lot 108 Phs. IV-B |
| 44 | 1.09+/- Acres on Magic Creek Ln | Parcel 171104535177 Lot 124 Phs. IV-B |
| 45 | 1.39+/- Acres on Magic Creek Ln | Parcel 171104539310 Lot 123 Phs. IV-B |
| 46 | 1.25+/- Acres on Magic Creek Ln. | Parcel 171104536304 Lot 125 Phs. IV-B |
| 47 | 1.34+/- Acres on Magic Creek Ln | Parcel 171104536575 Lot 126 Phs. IV-B |
| 48 | 1.51+/- Acres on Magic Creek Ln | Parcel 1711045393479 Lot 127 Phs. IV-B |
| 49 | 1.21+/- Acres on Magic Creek Ln | Parcel 171104630627 Lot 128 Phs. IV-B |
| 50 | 1.36+/- Acres on Magic Creek Ln | Parcel 171104537715 Lot 129 Phs. IV-B |
| 51 | 1.41+/- Acres on Magic Creek Ln | Parcel 171104537993 Lot 130 Phs. IV-B |
| 52 | 1.21+/- Acres on Magic Creek Ln | Parcel 171104630894 Lot 131 Phs. IV-B |
| 53 | 1+/- Acre on Magic Creek Ln | Parcel 171104641092 Lot 132 Phs. IV-B |
| 54 | 1.51+/- Acres on Magic Creek Ln | Parcel 171104548180 Lot 133 Phs. IV-B |
| 55 | 1.2+/- Acres on Magic Creek Ln | Parcel 171104642179 Lot 135 Phs. IV-B |
| 57 | 2.63+/- Acres on Woodchuck Ln | Parcel 171104633388 Lot 122 Phs. IV-B |
| 58 | 1.61+/- Acres on Woodchuck Ln | Parcel 171104635044 Lot 112 |
| 59 | 3.75+/- Acres on Woodchuck Ln | Parcel 171104639282 Lot 115 Phs. IV-B |
| 60 | 3.3+/- Acres on Woodchuck Ln | Parcel 171104639521 Lot 116 Phs. IV-B |
| 61 | 2.42+/- Acres on Woodchuck Ln | Parcel 171104634622 Lot 121 Phs. IV-B |
| 62 | 2.13+/- Acres on Woodchuck Ln | Parcel 171104634817 Lot 119 Phs. IV-B |
| 63 | 2.65+/- Acres on Woodchuck Ln | Parcel 171104645239 |
| 64 | 2.48+/- Acres on Woodchuck Ln | Parcel 171104648187 Lot 118 Phs. IV-B |
| 65 | 56.09+/- Acres | Parcel 171104648980 Off Woodchuck Ln N. |
Online Only Real Estate Terms
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:51, the close time will automatically extend to 6:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the 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 the convenience of Iron Horse Auction Company, Inc. or 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, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the 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. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, the winning Bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. 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, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:51, the close time will automatically extend to 6:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the 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 the convenience of Iron Horse Auction Company, Inc. or 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, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the 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. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, the winning Bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. 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, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.