Auction Terms and Conditions

1.      This property will be sold subject to a stated minimum bid.
2.     There are no hidden reserve prices! This home will sell if the minimum bid is obtained at the auction. (Minimum bid to be announced at the practice auction)
3.      The sale is not contingent upon financing, although financing is allowed
4.     Bidders without pre-approved financing will qualify to bid by displaying a $25,000 cashier's check as non-refundable Deposit money, at registration along with verification of ability to close from a financial institution. Cashier’s check should be made payable to First American Title Co.
5.      Bidders with pre-approved financing will qualify to bid by providing proof of financing along with a $15,000 cashier's check as Non-Refundable Deposit money. Cashier’s check should be made payable to First American Title Co.
6.     5% Buyer's Premium will be added to the final purchase price.
7.      The winning bidder will be required to deliver to the auctioneer the cashier's check or certified check as non-refundable deposit money and execute the Purchase and Sales Agreement immediately upon acceptance of bid.
8.     The seller will have 7 days from the conclusion of the auction date to review, confirm and accept the high bid to their sole discretion. The buyer(s) acknowledge if they are the high bidder their high bid is non-revocable during this 7 day review period. The high bid and purchase contract can only be terminated if the seller declines the high bid.  If the contract is terminated at this time the buyer will obtain the deposit money and the 2nd highest bidder will move into first position.
9.     2nd and 3rd highest bidders may opt to submit back up offers at the amount in which they ceased bidding, if winning bidder is released or unable to complete purchase and sale, 2nd highest bidder will have 24hours from notice to deliver deposit money and continue with Purchase and sale.  Repeat above for 3rd highest bidder…etc.
10.   All properties will be sold free and clear of all liens.
11.    Closing must occur within 30 days of the seller acceptance of winning bidders purchase and sale, final payment must be made by assured funds.  Seller has the right to extend closing if needed, but not obligated.
12.   It is the responsibility of the buyer to inspect the property prior to the auction and satisfy himself or herself as to its condition, value and fitness for intended purpose. The subject property is sold “as-is” “where is” with no guarantee(s) expressed or implied (we strongly recommend all due diligence be completed PRIOR TO the auction so you are comfortable and informed about the property in which you are bidding on)  
13.    The sale is not contingent upon an inspection, although an inspection is not only allowed but is encouraged.  There will be no work orders granted.
14.   All real and personal property is sold in "AS IS" condition with no warranties by seller or auctioneer expressed or implied. The buyer is entitled to rely solely on his or her own inspections and evaluations, and not on any representations from seller or auctioneer, or seller’s real estate agents.
15.   BROKER PARTICIPATION A 2% commission will be paid by the Seller, to the licensed broker whose prospect pays for and settles the property in this auction. To qualify for the commission, the licensed broker or salesperson must register his/her client on a broker participation form and must attend the auction with his/her prospect. A broker participation form can be obtained from the MNA Real Estate by calling 206.686.8585 or emailing nicon@windermere.com. Registration forms must be received by 5pm, Friday July 31st, 2009.
16.   Marqeus/Nicon & Associates as well as Windermere Real Estate/GHLLC. makes no warranties expressed or implied or representations of any kind concerning the property, including but not limited to the physical condition of the property.
17.   Any sale day announcements overtake any prior announcements
18.   Property taxes to be pro-rated
Practice Auction - August 1st, 2009 at 3pm (location: 9507 Forest Dell Drive Edmonds WA 98020)
Live Auction- August 8th, 2009 at 3pm (location: 9507 Forest Dell Drive Edmonds WA 98020)
Preview by Appt. - call Scott Marques or Michael Nicon, Windermere Real Estate               (206)-686-8585
Open House’s - June 21 & 28th - July 5th, 11 & 12, 18 & 19, 25 & 26th  from 1-4pm
Lending - Pre-Qualify thru John B. Endres with MetLife Home Loans 206.713.0837 (required to pre-qualify, but not obligated to use this lender to complete transaction)