REAL ESTATE AUCTION TERMS & CONDITIONS:
Bidder Registration: All prospective bidders must register by creating a MNauction.com bidder account and calling MNauction at 952.322.9199. Bidders will be required to enter a valid credit card which will be pinged for $1000.00. This is not a fee and will be immediately refunded (please note, some banks take longer to process than others)
Down Payment: a $10,000.00 non-refundable earnest money down payment shall be paid within 24 hours from the close of bidding (1/17/23). Cash, personal, & company checks or certified funds will be accepted.
In the event a winning bidder fails to submit the signed ’Purchase Agreement’ and deposit earnest money as described in Auction Terms, the winning bidder will be charged a non-refundable administrative fee of $10,000 on the credit card provided at auction registration.
Closing: Closing on this property shall take place on or before (2/17/23). Buyers wishing to close earlier will be accommodated.
Title: This property will be sold free & clear from any & all liens & encumbrances, but subject to any zoning, environmental, or other municipal, federal & state laws, easements, rights of way or other matters of record. Buyer to accept property in as-is condition.
Seller, Broker & Auctioneer Disclaimer: All announcements & updates made by the auctioneer on the website, shall take precedence over any previously written material or oral statements made. Conduct of the auction, increments of the bidding & decisions as to the high bidder will be at the direction & sole discretion of the auctioneer. The information contained in this listing is subject to the inspection & verification by all parties relying on it; no guarantee, expressed or implied, is given of the information contained in the listing(s). No liability for its accuracy, error or omissions is assumed by the owners or the agents. Property sells in "as-is" condition. Buyer will sign an as-is addendum.
Terms: Buyers to have financing arrangements made prior to bidding on the auction with no contingencies of any kind accepted in the purchase agreement. A 10% buyers premium applies. This will be added to the High Bid to create the Contract Price. Example: $150,000 high bid plus $15,000 Buyer’s Premium equals $165,000 Contract Price.
Failure to Close by the Buyer: If for any reason you are unable to complete the transaction, your earnest money will be forfeited. The property will be sold. Should the property sell for less than your total Contract Price, you will be responsible for paying the difference to the Seller.
Taxes: (2023) Real Estate Taxes to be prorated.
Agency Disclosure: MNauction and Better Homes represent the seller in this real estate transaction. Dual agency may apply.
Referral Fee (Broker Participation Accepted But Not Required): A 2% referral fee will be paid to the buyer's agent that registers their client with the auction company on or before (1/13/23). Broker’s Registration Forms can be found in the auction listing and can be requested and submitted by emailing info@MNauction.com
Internet Bidding: MNauction is providing internet only bidding for this auction. This service may or may not function properly at the close of the auction. Under no circumstances shall a bidder have any kind of claim against MNauction or anyone else if the internet service fails to work correctly during the close of the auction. MNauction is not responsible for missed bids or inaccurately entered bids.
MNauction reserves the right to stop or pause and restart the auction in the event that any internet service, server, or other service should malfunction or otherwise disrupt the closing of an auction.
*This property sells subject to seller confirmation.* The reserve may drive the bidding. This is not an absolute auction.