Auction Terms & Conditions 1-Online Auction Bidding Software Disclaimer: This is an “As-Is” Site. You accept that you use the Site to your own risk and without any guarantees or promises from Craig & Wheeler Realty & Auction, LLC or its Sellers. This includes the functionality and operation of the Site. Craig & Wheeler Realty & Auction, LLC does not guarantee that the Site will be operational 100% of the time. Craig & Wheeler Realty & Auction, LLC does not guarantee that you will always be able to access the auctions listed on the Site. The site is usually available 24 hours a day, 7 days a week. However, we retain the right to make the site unavailable from time to time for any reason. Therefore: Craig & Wheeler Realty & Auction, LLC shall not be liable for any damages arising from any interruption, suspension or termination of the Site. THE ONLY GUARANTEE THAT YOUR BID WILL BE PLACED IS TO BE AT THE ACTUAL LIVE BIDDING EVENT!
2-Online Bidder Verifications/Discretions: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Craig & Wheeler Realty & Auction, LLC, in its sole discretion, have the right to terminate or suspend access to any bidder for any reason to our Site. We have the right to terminate or suspend any bidder’s registration to bid and bidder account. Bidders guarantee that the information they supply to Craig & Wheeler Realty & Auction, LLC is accurate. Users agree to indemnity and hold Craig & Wheeler Realty & Auction, LLC harmless from any lawsuit based on users’ negligence or activities. We have the right to suspend bidding on any individual lot and/or all lots in any auction at any time. Information contained herein believed to be correct but not guaranteed. Any and all inspections that a buyer may want must be completed at buyer’s expense prior to the close of the online bidding. Craig & Wheeler Realty & Auction, LLC reserves the right to sell to the next highest qualified Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms.
3-Auctioneers Online Bidding/Discretions:
Craig & Wheeler Realty & Auction,LLC auctions may have different bidding increments. Bidders must be aware of incremental changes on each bid. Craig & Wheeler Realty & Auction,LLC reserves the right to reject any and all bids for any reason and reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed. Craig & Wheeler Realty & Auction,LLC has full discretion to modify the time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Craig & Wheeler Realty & Auction,LLC or the seller. Craig & Wheeler Realty & Auction, LLC, Agents, Representatives or Employees may bid.
ONLINE BUYERS: Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement immediately following the close of the auction. Craig & Wheeler Realty & Auction, LLC will e-mail documents to be executed and fax or e-mail back to Craig & Wheeler Realty & Auction, LLC. within 24 hours of the end of the auction. 20% OF THE FINAL BID PRICE IS REQUIRED as non-refundable earnest money in the form of a certified check, cash or wire transfer within 24 hours of the close of auction (or next business day), with the balance of purchase price due at closing. Buyer shall be responsible for all wire transfer fees. All other closing terms to be in contract.
4-Guaranty Agreement: By submitting a bid in a name or the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Craig & Wheeler Realty & Auction, LLC. Successful Bidder and or Buyers not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Winning Bidder and or Buyer must fully and correctly execute the contract with no changes, modification, additions or deletion.
ON SITE BUYERS: The contract is required to be executed immediately after the close of the auction.
It is specifically understood and agreed by and between the Seller and Craig & Wheeler Realty & Auction, LLC, that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer's premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Bedford County, Tennessee. Craig & Wheeler Realty & Auction, LLC reserves the right to sell to the next highest qualified Bidder and or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, by the Bidder and or Buyer, is considered to be in default.
6-Disputes: Any dispute between Craig & Wheeler Realty & Auction, LLC , its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Bedford County, Tennessee. By bidding on any item, buyer agrees to all terms and conditions set forth.
EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.
7-Bidding Priority: The auction company reserves the right to make live floor bidding a priority over all online bidding at any time during the auction.
8-Hold Harmless: Buyer and or Bidder agrees to hold harmless and indemnify Craig & Wheeler Realty & Auction,LLC and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
By previewing the property or attending a live auction, the bidder acknowledges they and or their guest(s) have the possibility of being exposed to any life threatening illnesses including but not limited to the COVID-19 Coronavirus.
10- Real Estate Terms: Onsite Buyers to provide 20% Cash day of sale. Balance of funds by all buyers to be delivered at closing. Closing to be within 30 days of auction date. Possession to be given at closing. The 2022 Real Estate Property Taxes to be prorated, date of closing. Seller will provide a clear deed at closing.
All Announcements made day of auction or published/distributed on the internet prior to the stated live onsite and online auction ending time take precedence over previously published material and oral statements. By any online or onsite buyers bidding, you agree to all the terms above.
Seller User Terms
Bidder User Terms