Poseyville Absolute Land Auction

PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING.
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, PLEASE DO NOT BID. BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEMS(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:

Conditions of Sale: This online only auction is selling subject to owner's confirmation and is not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate. Buyer acknowledges they are buying property "as-is", "where-is", without inspections or contingencies. Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10-day lead based paint test.

 Closing Info: A Buyer's Premium of 5% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be required to sign an Agreement to Purchase Contract to be executed and returned to George Auction Group, LLC within twenty-four (24) hours of the completion of the auction along with 5% deposit of the total contract price. The entirety of the remaining balance is due at closing on or before 45 days from Auction Day. Purchaser will be responsible for all wire transfers. Possession shall be given to the successful Buyer(s) at closing. Buyer is responsible for all property 

Possession:  All buyers will get possession after the crop has been removed. Possession is subject to the current tenant rights for 2024 calendar year.

Taxes: The real estate taxes will be the responsibility of the buyer beginning on November 13th 2024  and beyond.  

 Lead Based Paint Disclosure: Buyers of any interest in residential real property with a residential dwelling built prior to 1978 are notified that such property may present exposure to lead from lead-based paint. The Seller(s) of such property is required to provide the Buyer(s) with any information on lead-based paint hazards from risk assessments or inspections while in the Seller(s) possession and notify the Buyer(s) of any unknown lead-based paint hazards. Any inspections and assessments for the presence of lead-based paint and/or hazards by a buyer(s) must be made prior to auction; otherwise, buyer(s) waives the 10-day opportunity to conduct such risk assessment/inspection and shall acknowledge receipt of lead-based paint disclosure form.

 Liquidated Damages: Successful Bidders not executing and returning their Contract with Earnest Money deposit within 24 hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally be liable for any and all costs incurred by Seller and George Auction Group, LLC incurred in a subsequent resale of the property. If such action occurs, George Auction Group LLC hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement. 

 Other Conditions: There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash "as-is, where-is" with a closing deadline.
George Auction Group, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, George Auction Group LLC will reject the registration, and bidding activity will be terminated.

Real Estate Brokerage Services Disclosure: George Auction Group LLC and their representatives are Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner and we must be completely loyal and faithful to our client. George Auction Group LLC has an exclusive right to sell listing for this transaction. All negotiations must be conducted through George Auction Group LLC .

 Restrictions: Real Estate is sold subject to any and all existing matter of record, and all easements, building use or zoning laws and regulations. 

 Total Area : All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos.    Buyer should make their own independent determination of acreage prior to bidding.  If a survey is necessary to establish a new legal description, the cost of the survey will be shared 50/50 between the seller and buyer. 

Mineral Rights: Seller will convey any and all mineral rights owned by the seller to the buyer at closing. 

 Additional Auction Information: All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on-site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, right-of-ways, or any other information that can be obtained as public record in the appropriate county court house concerning subject properties.

 Bidder Verification: Bidding rights are provisional, and if identity verification is questionable, George Auction LLC  has the right to reject the registration, and bidding activity will be terminated. The Seller and George Auction Group reserve the right to preclude any person from bidding if there is any question as to the person's credential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.

Technical Issues: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, George Auction Group, LLC reserves the right to extend bidding, continue the bidding or close the bidding. Neither the company providing the software, George Auction Group, LLC, shall be held responsible for the failure of the software to function properly for any reason.
YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND GEORGE AUCTION LLC AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER THE TERMS AND CONDITIONS OF THIS AUCTION.