GILBERT & GILBERT AUCTIONEERS

RD #1 WRIGHTSVILLE, PA 17368

 

 

CONDITIONS OF SALE

 

 

The following Conditions of Sale will govern and control the sale of property situated at

 

 

 

(1)     The Property is offered for sale by

 

 

 

(2)     The auctioneer will settle any and all disputed bids and will determine what is the highest outstanding bid.

 

(3)     The seller shall convey the title in fee simple by deed bearing a special warranty.  The property is to be conveyed free and clear of all liens, encumbrances, easements and mortgages, excepting, however the following: existing building restrictions, ordinances, easements of roads and easements of restrictions visible upon the ground.  Otherwise, title to the described real estate shall be good and marketable.

 

(4)     The terms of the sale are ______ down.  The balance to be paid within _____ days or sooner if at buyer’s option settlement can be concluded earlier.

 

(5)     The seller has no responsibility to assist in obtaining financing for the buyer.

 

(6)     If settlement is not concluded by buyer, it is agreed the deposit shall be forfeited to the seller as liquidated damages which sum the buyer hereby agrees to pay.  Formal tender of Deed is herby waived.

 

(7)     The seller reserves the right to reject any of all bids, for want of a sufficient bid.

 

(8)     The cost of the Deed preparations and one half of the transfer stamp taxes shall be paid by the seller.  One half of the conveyance stamp taxes shall be paid by the buyer.

 

(9)     Real estate taxes shall be prorated on a fiscal basis to the date of settlement.

 

(10)  Possession is to be delivered at settlement.

(11)  The property is being sold “AS IS”.  Seller makes no representations or warranties concerning the property to be sold.  It is understood the Buyer had the right to inspect the property prior to sale and either has inspected the property or waives the right to do so.  Buyer agrees to purchase the property as a result of inspection, or the waiver of the right of same, and not because of or in reliance upon any representation or warranty made by Seller, and Buyer agrees to purchase the property in its present condition.

 

(12)  Risk of loss or damage to the property shall pass to Buyer when the property is struck down by the auctioneer.  Subsequent loss or damage to the property shall not relieve the Buyer from obligation to purchase the property.  Seller will keep the property insured until time of settlement.

 

(13)  The property being sold is subject to all applicable federal, state and local laws, statues ordinances, rules and regulations.  Seller certifies that no notice has been served by any governmental authority for removal or abatement of any nuisance, for the violation of any zoning regulation or concerning the condemnation of any portion of the said property.

 

(14)  It is acknowledged that the above Conditions of Sale were read at sale and are binding on the successful bidder/buyer.

 

(15)  A copy of the Conditions of Sale are acknowledged as received by successful bidder(s).

 

 

                                                            __________________________________________

                                                            BUYER

 

 

                                                            __________________________________________

                                                            SELLER

 

 

Purchase price is __________________________

 

Receipt of $______________________ down payment is acknowledged by the seller.

 

 

                                                           

                                                            __________________________________________

                                                            AGENT FOR SELLER

 

Date:_______________________