Auction End Times: All West Central Auction Company Online Only Real Estate Auctions are timed events. Auctions with multiple properties have staggered end times with 10 minutes between each ending.
Example: an auction scheduled to end at 10:00 a.m. will close the first property at 10:00 a.m., the second at 10:10 a.m., etc. West Central Auction Company Online Only Real Estate Auctions also have an auto extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 10:00 a.m. receives a bid at 9:59 a.m., the close time of the auction automatically extends to 10:04 a.m. The auto-extend feature remains active until no further bids are received within the 5 minute time frame.
Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to West Central Auction Company Successful bidders will deposit 10% per property in the form of cashiers check or wire transfer with the onsite broker listed for the specific property. The entirety of the remaining balance is due at closing on or before Oct 15, 2014 Purchaser shall be responsible for all wire transfer fees.
Contract Documents will be sent by e-mail or fax to the successful bidder, who must execute and fax or email back to West Central Auction Company within 48 hours of the end of the auction.
Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.
Auction Bid Default: In the event a winning bidder fails to submit the signed Contract for Sale of Real Property and $1000.00 per property earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $1000.00 on the credit card provided at auction registration. Additional default remedies are reserved by West Central Auction Company and the Seller as provided in the Auction Terms & Conditions and the Contract for Sale of Real Property.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, West Central Auction Company will reject the registration, and bidding activity will be terminated.
Closings: Time being of the essence, these sales shall be closed on or before Oct 15, 2014. The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. 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 this sale.
Open House: Please contact property specific onsite brokers for open house dates and times or to arrange a private showing.
Broker Participation: A three percent (3%) bid price commission is available to properly registered brokers. The required broker participation form with complete instructions is available at www.westcentralauctionco.com Please review the form for eligibility.
Agency Disclosure: In all transactions, West Central Auction Company is acting as agent for the seller, not as buyers agent.
Disclaimer: All information contained herein is believed to be correct to the best of the West Central Auction Companys knowledge. The information is being furnished to bidders for the bidders convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipients risk. Each bidder must conduct and rely solely upon their own investigation and inspection. The property is being sold AS IS with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding.