Sale Terms and Important Information

THIS AUCTION IS SUBJECT TO A $500 REFUNDABLE DEPOSIT

CONDITIONS OF SALE

Placing a bid at auction constitutes buyer’s acceptance of and agreement to these Conditions of Sale.

1. WAIVER OF WARRANTY: All lots are sold AS-IS Where-Is, and ALL SALES ARE FINAL. No statement regarding condition, kind, value, or quality of a lot, whether made orally or in writing in this catalogue or elsewhere, shall be construed to be an express or implied warranty, representation, or assumption of liability. Any such warranty is WAIVED.

2. The auctioneer shall have absolute discretion in determining the successful bidder. At the completion of the auction, title to the offered lot will pass to the bidder acknowledged by the auctioneer. The bidder thereupon assumes full risk and responsibility and will pay full purchase price for the said lot.

3. The auctioneer may decide that any original bid is not commensurate with the value of the article offered, or that any advance thereafter is not of sufficient amount, he may reject the same.

4. The auctioneer reserves the right to withdraw any item at any time before the sale of the item.

5. No merchandise will be released before the end of the auction.

6. If the buyer fails to comply with any of the Conditions of Sale, Martin Auction Company reserves the right to hold such defaulting buyer liable for the purchase price; to cancel the sale, retaining as liquidated damages any payment made by the buyer. 

7. Announcements made the day of sale take precedence over written or advertised announcements, but do not alter, in any way, the terms and conditions of the sale.

PAYMENT
1. The successful bidder agrees to pay a buyer’s premium in the amount of 6% of the sale price on each lot.

2.  Acceptable forms of payment include Visa or MasterCard (with additional 5% surcharge applied), cash, cashier’s check, money order, wired money or personal/business check (ONLY IF accompanied by a Bank Letter of Guarantee).

3. Payment in full must be made by the successful bidder within 5 business days of the auction date. Interest charges will apply to invoices paid after this period expires.  We reserve the right to require payment in full of the sales price at the moment of the successful bid.  Each transaction necessary to collect insufficient funds will have a $30 fee imposed.

TERMS
Martin Auction Company requires that the merchandise be held on premises until the receipt of payment in full is verified.

Shipping Responsibilities of Purchaser: Purchaser Obligations
The purchaser assumes full risk and responsibility for the purchased property, including all costs and expenses of handling, shipping, insurance, taxes, export, and otherwise, and is liable for the full purchase price, plus the buyer's premium.

STORAGE
Unless other arrangements are made and confirmed in writing, all items must be removed within 15 days of the auction. On the first business day following that time period, items remaining will be turned over to a storage facility. The buyer will be responsible for handling and storage costs. Handling costs will be a minimum of $50. Storage rates will carry a minimum charge of $50 per month per item. All items handled or stored will be at the buyer’s risk. Storage charges are accrued monthly and must be paid in full before items are released. We are not liable for any damage to items after the sale.

MANDATORY AND EXCLUSIVE FORUM SELECTION; AND CHOICE OF LAW
Any dispute by either party against the other will be settled by arbitration in Howard County, Missouri. Any dispute between the parties shall be governed by the law of the State of Missouri, notwithstanding any conflicts of law principles.

Condition Reports

It is the responsibility of the prospective buyer to inquire as to the condition of a specific lot PRIOR to bidding. Condition reports are statements of opinion by the staff of Martin Auction Company, and/or independent consultants, it is not a warranty.  CONDITION WILL NOT BE INCLUDED IN THE DESCRIPTION OF THE LOT. Please email requests to codymartin@martinauctioncompany.com. Emails must include all contact information. Requests are answered in the order they are received. All potential buyers should be sure they have read and agree to the Conditions of Sale. NO RETURNS ARE ACCEPTED ON THE BASIS OF CONDITION.

Clerical / Internet Errors

Martin Auction Company undertakes the execution of online bidding as a convenience for clients and is not responsible for any inadvertent failure to execute bids, or for any error in the execution of bids. Regardless of the circumstances, if you click BID and subsequently BUY an item, you have purchased it. We will not cancel the sale of an item due to an accidental click. We are not responsible for a loss of internet connection and technical complications beyond our control.

Real Estate Terms

Procedure:  Real Estate will be sold promptly at 11:00a.m..

Buyers Premium:  The successful bidder agrees to pay a buyer’s premium in the amount of 4% of the sale price.

Down Payment: The buyer will provide a $50,000.⁰⁰ (non-refundable) down payment upon signing the contract for the sale of real estate immediately following the acceptance of the final bid.  Acceptable forms of payment include personal/business check or cashier’s check.  The remaining balance will be due at closing in 45 days or less.  Please note, successful bidding at the auction is not contingent on personal financing.  Please have your finances in order prior to bidding on the property to ensure you are capable of paying the balance at closing. 

Title:  Seller shall convey a Warrantee Deed to the buyer for examination and pay for title insurance.

Taxes:  Taxes for 2016 shall be paid by the Seller and the buyer will be responsible for all taxes thereafter. 

Possession:  Possession of the real estate shall be delivered to buyer at the time of closing.

Acreage:  All acreage is approximate and has been estimated based on current legal descriptions and/or aerial maps.  Property is to be sold by the whole, not by acreage. 

Closing:  Closing will be conducted at Cooper County Land & Title, Boonville, MO on or before January 17th, 2016 or at other set time and place in which both parties agree.  

Disclaimer:  The property is being sold “as is, where is.” and no warranty, either expressed or implied, concerning the property is made by either the sellers or the auction company.  Each bidder is responsible for conducting his/her own independent inspections or investigations concerning the property and the auction.  Information contained in this packet is believed to be correct to the best of auctioneer’s knowledge but is subject to inspection and verification by all parties relying on it.  Diagrams are approximate.  Acreage is estimated.  All information regarding the real estate is subject to the terms and conditions of sale outline in the contract for sale of real estate.  Auction conduct and bidding increments are at the sole direction and discretion of the auctioneer.  All decisions of the auctioneer are final.  The sellers and the auction company reserve the right to preclude anyone from bidding if there is a question as to the person’s credentials, fitness, intent, etc.  

Please contact Martin Auction Company at 660-888-3460 or 660-888-9518 or email at codymartin@martinauctioncompany.com with any questions.