Real Estate Terms & Conditions for Michener Allen Auction

Terms: Purchaser, pay within 30 Days

Deposit: 10% by auction day or within 2 days

Highest Bidder has 1^st opportunity to negotiate.

Closing Time: 15 minutes for closing time between lots.

High Bid Subject to Sellers Approval

1. All prospective Buyers are required to register to obtain a Bid Number in order to Bid.

2. All prospective Buyers are required to present banking information (Bank Co. and Financing Contact)

3. Michener Allen and the real estate brokerage company will act as a single agent representing the seller’s interest only – not as a dual agent.

4. The Auction sale is not contingent on the Buyer obtaining financing, nor conditional upon any requirements or events, and will not be extended for any purposes whatsoever.

5. If you are the successful Bidder, a non-refundable deposit of 10% of the purchase price of the property will be due and payable at the conclusion of the Auction, in the form of personal check, money order, certified cheque or bank draft. The deposit will be held in a trust account. At the end of the Auction, the successful Bidder will immediately enter into a Real Estate Purchase Contract, and be bound to the Terms & Conditions as set forth. Bidders will also be required to complete a Receipt of Funds Record. Bidders who subsequently fail to close the sale for any and all reasons, other than the failure of the Seller, will be required to release their entire deposit as liquidated damages. The remainder of the purchase price is due in full upon the closing date, up to 30 days after Auction:

A Buyer Premium will not be applied. The Purchaser shall pay the Purchase Price for the property and all applicable taxes (Provincial and Federal).

6. All properties are sold “AS IS, WHERE IS” condition. Bidders are advised to perform their own due diligence prior to attending the Auction, or during the Viewing.

7. All sales are final.

8. The Auction sale will begin promptly at the appointed time and place, unless conditions prevent such a sale to take place, in which case the Auctioneer will make a decision on where and when.

9. Descriptions made by the Auction Company, Michener Allen Real Estate Auctions Inc, are made as accurately as possible in all its literatures, website and advertisements, and are provided for information purposes only and should be verified by the Bidder. The Auction Company, the Directors, and its staff, the Designated Brokers, Seller or their Agents cannot be held liable for any errors or omissions whatsoever.

10. Bidders are required to perform their own due diligence, including but not limited to reviewing all details, measurements, and restrictions prior to bidding at the auction.

11. The Auction Company reserves the right to deny any person admittance to, or expel any person admittance to, or expel any person from the Auction event, or to withdraw any or all property(s), or to change the Terms & Conditions, or to reopen bidding on the Property, or may designate one of the Bidders as the successful Bidder, at any time prior to or during the course of Auction, without just cause.

12. Bidders acknowledge that they are on the Sale site at their own risk. No person shall have any claims against the Auction Company, its staff and representatives, including its Agents for any injuries sustained or for any damages to or loss of property which may occur.

13. In the event of a tie bid, the bidder on location and in the presence of the Auctioneer will take precedence.

14. In the case of dispute, the Auctioneer’s decision shall be final.

June 20, 2024 Real Estate Auction