TERMS AND CONDITIONS
Mountain Top Lot | Gap Mills, WV
Auction Property: Deerpath Ln, Gap Mills, WV (37.555701, -80.339197) | Parcel# 06-31-0029
Auction Date & Time: ONLINE BIDDING ONLY from Monday October 26th @8:00a - Friday October 30th @5:30p
Registration Deposit: $2,500. Balance due within 30 days of sale.
Registration Deadline: Friday October 30th @5:30p. (all steps below must be completed by this time)
Buyerâ€™s Premium: 5% of the high bid price
General Terms and Conditions of the Auction:
- Registration: Bids will only be accepted from registered bidders. All Bidders are required to have a Bidder's Number to bid. Receipt of a bid number is an acknowledgement that the bidder accepts the Terms and Conditions of the on-line Auction. Â
- Deposit: The successful bidder will be required to sign a Contract of Sale, immediately following the end of the Auction.Â A Deposit in the amount of $2,500.00 will become non-refundable and will be applied to the Purchase Price at closing, unless the seller is unable to convey clear title. Closing to take place within 30 days of sale. Time is of the Essence.
- Buyerâ€™s Premium:Â There will be a 5% buyerâ€™s premium which will be added to the high bid amount, to determine the contract sales price. Example: high bid price of $100,000 + $5,000 (5%) = $105,000 â€śPurchase Priceâ€ť.
- â€śAs-Isâ€ť, â€śWhere-Isâ€ť: The property is being sold â€śAS-ISâ€ť, â€śWHERE-ISâ€ť.Â Potential Buyers must perform such independent investigations with respect to the property as they deem necessary to verify information provided by Auction Company or the Seller.
- Advertisements: All information provided by Auction Company and the Seller is deemed reliable but is not warranted. The information contained in any advertisements by Auction Company are subject to verification by all parties relying on it.Â No liability for its accuracy, error or omission is assumed by the Auction Company or the Seller.
- Representation: Auction Company and its representatives represent the Seller.
- Closing: Closing is to take place 30 days after the Auction â€“ Time is of the Essence.
- Deed: Property will be conveyed by Special Warranty Deed or Deed that is required by West Virginia law.
- Bidding:Â All Bidding is open to the public without regard to race, color, sex, religion, or national origin. As used in these conditions of sale the term "the final bid" means the highest bid acknowledged by the Auctioneer and the term "Purchase Price" means the sum of the final bid and the Buyerâ€™s Premium. The highest bidder acknowledged by the Auctioneer shall be the buyer.
- Type of Auctions:Â This is an ABSOLUTE AUCTION and will be sold regardless of the price.
- Auctioneerâ€™s Rights:Â Auctioneer reserves the right to set bid increments.Â Should there be any dispute after the sale, the record of final sale shall be conclusive.Â
- Closing Costs: The Deed shall be prepared and acknowledged by Seller at Sellerâ€™s expense and recorded at the expense of Buyer, except for the Grantorâ€™s Tax which will be paid by the Seller. The Buyer shall pay all title searches, title insurance charges, survey expenses, usual conveyance expenses, and recordation taxes. Real estate taxes, water and sewer charges, if any, will be prorated as of the closing date.
- Financing: Sale of the property is not contingent upon the Buyer obtaining financing.Â
- Inspection: All property is sold "As Is, With All Faults.â€ť Â Description and other information are provided as a service to customers only and do not constitute a representation or warranty, either expressed or implied. The Seller and Auctioneer disclaim all responsibility for physical condition. All buyers are responsible for prior inspection of properties on which they bid, and by bidding are deemed to have so inspected the property.Â Auctioneer and Seller are not responsible for delivering possession of the property, which is solely the responsibility of Buyer.
- Bid Execution & Technical Problems: Walker is not responsible for failing to execute bids due to Auction Companyâ€™s or bidderâ€™s technological difficulties.Â Walker has made reasonable efforts to provide for online bidding for this sale. You recognize and acknowledge, however, that technical problems with hardware, software or internet connectivity, as well as human errors, may arise and may affect, without limitation, the sale website, our online bidding program and process, your or our internet service and access, and your connection to this sale bidding program and process. You further acknowledge that these and other technical problems may develop at any time and with or without notice. You acknowledge and agree that neither Walker nor the Seller is in anyway responsible for any such technical problems, and that you have no absolute or other right to be able to bid on this sale in the event of any such technical problems. Notwithstanding the foregoing, you further acknowledge and agree that, in the event of any such technical problems, we reserve the right to postpone or cancel the sale and/or extend the bidding time for this sale and/or relist the property for sale at another time, in our sole discretion, and that our decision with regard to any such actions is and will be final.Â Bidders must take care in entering bids, and each Bidder will be responsible for all bids placed under the Bidderâ€™s approved registration. Once entered and recorded online, a bid is deemed to be final on behalf of the registered Bidder and may not be modified, retracted or rescinded in whole or in part.Â Â In addition to forfeiting the bidderâ€™s deposit, the bidder will also be subject to lawsuit for Damages and/or Specific Performance in the Court of Law of which the property is located.Â Further, all Attorneys' Fees incurred by the Seller, Trustee and/or the Auction Company will be due and paid by a defaulting bidder.
**CASTING A BID FOR THE PROPERTY ONLINE CONSTITUTES ACCEPTANCE OF ALL TERMS AND CONDITIONS**
ADDITIONAL TERMS FOR BIDDING ON-LINE
- REGISTRATION: Complete the Online Registration Form found on the online auction website (https://bit.ly/2IGXC14) providing full name, complete physical address, current working email and phone number(s).
- Mail a cashierâ€™s check payable to Walker Commercial Services, Inc. at the address listed in reference table above, in the amount of $2,500.00; or
- Wire funds to the escrow account in the amount of $2,500.00 plus a $35.00 convenience fee to cover the wire transfer charge. For wiring instructions please contact Walker Commercial Services, Inc.Â Â
Note:Â Generally, wires must be initiated prior to 2:00 PM in order to clear by 5:00 PM; or
- Allow the Auction Company to place a hold on your credit card in the amount of $2,500.00. If you are the high bidder, you will have the option to have your credit card charged for the deposit amount plus an additional 3% ($75.00) processing fee. Alternatively, you can choose to wire funds or mail in a cashierâ€™s check within 2 business days of the end of the auction.Â If you choose to wire or mail in funds, the credit card hold will remain in place until your deposit has been received.
**NOTE: High bidders using a credit card must contact Walker before 5:00 pm on the day before the auction, to identify which deposit type (check, wire, or credit card) that will be used. If we are unable to reach you immediately following the auction, we will authorize a withdrawal from your credit card for $2,500.00. Deposits from high bidders become NON-REFUNDABLE immediately following the auction. Deposits will be applied to the purchase price at closing. Check deposits made by the non-winning bidders will be returned by check in the mail, or can be picked up at the offices of the Auction Company, three business days after the end of the auction between the hours of 9:00 a.m. and 5:00 p.m.Â Checks that are not picked up will be automatically mailed to the address provided at registration.
Online bidders may be required to sign a blank Contract of Sale upon receipt of the deposit. Further, once the sale is completed, and the on-line bidder is the successful bidder, Walker may send additional documentation to be signed which shall be completed and returned to Walker within 12 hours or to not be unreasonably withheld or delayed.
Once you have completed the above steps, the auction company will approve your registration and you will be eligible to bid online. In order to bid online, all of these steps must be completed prior to the online deadline listed in reference table above.Â There will be no exceptions. Walker will have the option to speak with all online bidders.Â The successful bidder will be required to sign an electronic version of the Contract of Sale at the conclusion of the sale.
By completing these steps, you agree to all of the terms and conditions of the sale, those contained in the Contract of Sale and all of the items contained herein which, by incorporation, are part of the terms of sale.