TERMS & CONDITIONS

1. This auction is a cash sale 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 Contract for Sale of Real Property.

2. Buyer’s Premium: A 10%* Buyer’s Premium will be added to the bid price to determine the final contract price.  (* If you as the buyer are using your own broker to help with the transaction you will be subject to a 12% buyer’s premium and your broker with receive 2% of the final bid price.)
   • 10% Buyer’s Premium Example:
   • Bid Price: $100,000.00
   • Plus 10% Buyer’s Premium: $10,000.00 Total Contract Price: $110,000.00
3. Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and return the package back to CAGP along with the required earnest money deposit (defined below in “10. Terms”) within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
4. Per the Contract for Sale of Real Property, ‘time is of the essence’; you should proceed to closing immediately upon acceptance of your offer. You must close the transaction on or before August 12, 2022. 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 the contract, forfeit all earnest money deposits made, and could be additionally liable for any and all costs incurred by the seller and CAGP in a subsequent resale of the property.
5. In the event a winning bidder fails to submit the signed “Contract for Sale of Real Property” and earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. All administrative fees are non-refundable. Additional default remedies are reserved by the Seller and CAGP as provided in the Auction Terms &’. Conditions and the “Contract for Sale of Real Property”.
6. Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at cagp.com.  Please read and review the contract thoroughly prior to bidding on the property. If you have not read and reviewed the Contract for Sale of Real Property, Please Do Not Bid!
7. CAGP has the sole authority to resolve any bidding disputes as they may arise.
8. Auction End Times: CAGP Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. CAGP reserves the right to adjust the auto extension time period.
   • Example: Online Real Estate Auctions have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes in addition to the time remaining on the auction clock at the time the bid was placed. Example: If an auction scheduled to end at 4:00 p.m. receives a bid at 3:59 p.m., the close time of the auction automatically extends to 4:05 p.m. The auto-extend feature remains active until no further bids are received on the property within the 5-minute time frame. RCAGP reserves the right to adjust the auto extension time period.

9. Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, CAGP  reserves the right reject the registration, and bidding activity is subject to termination.
10. Terms: At the close of the auction, successful bidder will be emailed the contract package to execute and return to CAGP. Successful bidder will deposit 5% of the contract price as earnest money in the form of cashier’s check or bank wire transfer with the Title Company within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.
11. Auction Administrative Fee: In the event a winning bidder fails to submit the signed “Contract for Sale of Real Property” and the earnest money deposit as provided in the pre­ stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Seller and CAGP  and the as provided in the Auction Terms &: Conditions and the “Contract for Sale of Real Property”. All administrative fees are non-refundable.
12. Closing: Time being of the essence, the sale shall be closed on or before August 12, 2022. The purchaser will pay for all closing costs associated with the transaction. Please refer to the Contract for Sale of Real Property, it is the document that governs the sale.
13. Agency Disclosure: In all transactions, CAGP is acting as agent for the seller, not as buyer’s agent. CAGP reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time.
14. Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being furnished to bidder for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is ac­ curate and complete. Any reliance on the contents shall be solely at the bidder’s risk. Bidder must conduct and rely solely upon their own investigations and inspections. The property is being sold “AS IS” with any and all faults. Please review all information supplied, and seek ap­propriate assistance prior to bidding.