REAL ESTATE
AUCTION
Online Only
AUCTION Ends @ 11:30 AM
3/26/15, 4/27/15
ARIZONA #
BIDDER’S INFORMATION PACKAGE
4,750 SF Storage/Workshop
on
2.29 Acres
99,752 SF
425 N Easy St
Benson, AZ 85602
Building
• Wood/ Steel Construction
• 4,750 sq. ft.
• Roll up door
• Metal Paint booth behind storage
Approximate Mileage to:
•
45 miles to Tucson
• 27 miles to Tombstone
• 34 miles to Sierra Vista
• 158 miles to Phoenix
TO BE SOLD SUBJECT TO MINIMUM BID OF:
$98,000.00
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
TABLE OF CONTENTS
Part 1: Bidder’s Information
Auction Offering …………………………………………………………..……1 of 1
Property Summary…………………………………………….…………….…2 of 1
Pictures…………………………………………………………………….……….3 of 1
Legal Description, Taxes, Plot Map……………………………………..4 of 1
Population Profile……………………………………………………………...5 of 1
Part 2: Contracts
Terms & Conditions …..…………………………………..…………………2 of 2
Brokers Participation…………………………………………………………4 of 2
Auction Registration Form……………………..……….………….…….5 of 2
REAL ESTATE AUCTION SALES CONTRACT………………………..…6 of 2
Part 3: Deposit instructions
Deposit Wiring instructions………………………………………………1 of 3
Pioneer Title………………………………………………………………….…2 of 3
I
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
PART 1
BIDDER’S
INFORMATION
POINT OF CONTACT
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Page 1 of 1
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Auction Offering
The sellers have elected to use the MINIMUM BID auction method of sale in order to achieve a personal
goal. Seller has found there is no better way to achieve “True Market Value” than offering their property
via an auction. Buyers also have an opportunity to purchase real estate through an auction without the
hassle of long negotiations and achieve Peace of mind knowing that they paid “Market Value” for their
property. The auction of Properties such as this one is rare and we wish all bidders luck in the pursuing
this unique opportunity to own a stunning lot with views galore.
Property Summary
Do you have a car hobby and need a great place to store and work on vehicles? This 2.29 acres 99,752 SF
with a 4,750 SF Quonset style metal storage/workshop with a paint booth for painting cars behind it can
be yours.
Bidder’s Information Package
Bidders must provide a $500.00 Certified Check payable to Pioneer Title in order to bid. Pioneer will treat
the winning bid check as a non-refundable deposit. The balance of the 20 % earnest money must be
provided to Pioneer Title within 48 hours. The second winning bid will be selected should the winner fail to
provide the 20% within 48 hours. Other certified checks will be returned to the owners at the end of the
bidding process or if acceptable offer is obtain prior to auction.
A copy of the preliminary title commitment: real estate tax information: plat of survey, etc is far to many pages
for presentation online. Copies will be provided once Bid Deposit is verified.
For Detailed Information,
On-site Inspection and Auction Information,
abale@realestateacutions.com
Call Art Bale, 520-720-0824
Page 2 of 1
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
PICTURES OF PROPERTY
Page 3 of 1
Legal Description
TAXES
PLOT MAP
Page 4 of 1
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Page 5 of 1
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
PART 2
Contracts
POINT OF CONTACT
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Page 1 of 2
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
TERMS AND CONDITIONS OF AUCTION
BIDDER’S AFFIFDAVIT
RealEstateAuctions.com, LLC
THIS AGREEMENT, between RealEstateAuctions.com, LLC, hereinafter collectively referred to as
“Auctioneer”, and the undersigned “Bidder”, entered into the “Acceptance Date”, is based upon mutual
promises, undertaking and considerations recited herein in connection with the auction conducted on
3/26/2015, 4/27/2015 online bidding. In order to be allowed to bid on the Property (“Property”) at the auction,
Bidder must agree in writing to the following terms and conditions, and provide proof of BID DEPOSIT
received by Pioneer Title Agency.
1. Auctioneer represents the Seller of the Property offered for sale by auction and does not represent the
Bidder.
2. Bidder desires to bid upon Property offered at the auction.
3. Bidder has inspected the Property, and all information related to the Property made available to Bidder by
Seller and Auctioneer including, but not limited to, the Bidder’s Information Package for Property and
other related property information for said property.
4.
In consideration of the Seller and Auctioneer allowing Bidder to bid on the Property at the auction, Bidder
hereby acknowledges and agrees that if Bidder is the final high bidder for the Property, online and
onsite. Bidder will immediately, upon being declared the final high bidder, submit to Seller a written offer
on the contract form provided by the Auctioneer for the Property, with no changes made by Bidder to the
contract form. Bidder hereby acknowledges that Bidder has a copy of the contract form: REAL ESTATE
PURCHASE CONTRACT and has read and understands the contract.
5. Bidder agrees to make $ 500.00 Bid Deposit (Certified check payable to Pioneer Title) which will
become non-refundable earnest money should this Bidder win the auction. Purchase and Sale
Agreement and deposit check payable to Pioneer Title will be delivered to the escrow agent. Purchaser
understands and agrees that the certified check will be deposited by the escrow agent upon delivery and
the balance of 20 % earnest money is due within 48 hours.
6. Seller and Auctioneer have agreed that this sale is to be conducted by including a Buyer’s premium of
Six Percent (6%) paid by the Bidder upon the final high bid price as determined by the Auctioneer.
Said Buyer’s premium shall be added to the high bid price to determine the final purchase price. The
purchase price shall be the total of the amount bid plus the Buyer’s premium.
7. Bidder acknowledges and agrees that payment of the Buyer’s Premium shall not make Auctioneer the
agent of the Bidder and that Auctioneer continues to act as the agent of Seller of the property sale.
8. Seller reserves the right to accept or reject any and all bids and offers below the published Minimum Bid.
Page 2 of 2
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
9. Referral Brokerage: 1.5 % of Sale price, based on the high bid, will be paid to any properly licensed
real estate agent/ agency who represents the Bidder, provided that the Bidder closes escrow for the
Property and the real estate agent does all of the following:
a)
b)
c)
d)
e)
Follow all the requirements of Broker Participation, including but not limited to:
Review the TERMS AND CONDITIONS OF AUCTION with the bidder.
Professionally assists the bidder by providing relevant advice and Property information.
Attend the auction with the Bidder or bid for the Bidder with limited power of attorney form.
Complete the Buyer’s Broker information on the Auction Purchase and Sale Agreement.
10. Auctioneer will control the increments of bidding and sale order and may suspend and resume bidding
for any and all properties prior to the conclusion of the auction. Auctioneer reserves the right to add or
delete any property in this auction at any time prior to the conclusion of the auction, and to cancel the
auction in whole or in part at any time. Online bidding only will eliminate the need for auctioneer.
11. Bidder acknowledges that Bidder has inspected any Property said bidder will bid on, and Bidder is
relying solely on Bidder’s own investigation of the Property and not on any information provided or to be
provided by Seller or Auctioneer or Real Estate Brokerage. Bidder further acknowledges and agrees that
any information provided by or on behalf of Seller with respect to the Property including, without limitation,
all information contained in any Property information package previously made available to Bidder by
Seller and Auctioneer was obtained from a variety of sources and that Seller, Real Estate Broker and
Auctioneer make no representation as to the accuracy or completeness of such information.
12. Seller and Auctioneer reserve the right to remove any Bidder from the auction for causing a
disturbance or otherwise disrupting the auction. Bidder agrees to leave the property where the auction is
conducted immediately upon being asked to do so by the Auctioneer.
13. The Property will be sold in “As Is” condition. The Auctioneer, Real Estate Broker, and Seller makes
no warranty expressed or implied whatsoever regarding the Property.
14. Bidder and anyone claiming by, through or under bidder hereby fully and irrevocably release
Auctioneer , Real Estate Broker and seller and their respective employees, officers, directors,
representatives and agents from any and all claims. This release includes claims of which Buyer is
presently unaware or which Buyer does not presently suspect to exist in his favor, which, if known by
Buyer, would materially affect Buyer’s release of Auctioneer. It is understood and agreed that the purchase
price has been adjusted by prior negotiation to reflect that Seller sells the Property and purchased by
Bidder subject to the foregoing.
_________________________________ (“Acceptance Date”)
__________________________________
Bidder’s Signature
__________________________________
Print Name
______________________________________
by: DB for Real Estate
Page 3 of 2
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Brokers Participation Invited
Referral fee is outlined in paragraph 9 above. To qualify for the referral fee, the real estate agent or
Broker must:
1. Be a licensed real estate agent or broker in the state of Arizona, abide by the National Association
of Realtors® Code of Ethics;
2. Register the client by certified mail return receipt requested, on company stationery, which must be
signed by both broker and client and confirm the “buyer-broker” arrangement (“Registration”), with
RealEstateAuctions.com. This document must be delivered and accepted 48 hours prior to
the scheduled auction. Deliver to 1030 S. Barrel Cactus Ridge, Benson AZ 85602.
Attention Auction Project Coordinator,, Art Bale.
3. Insure that the registration is received prior to inspection of property by client;
4. Onsite Only: Sign in and attend any tour with the client during a scheduled Open House;
5. Online Only: Attend the auction with the Client and bid with or for the client; and
6. Insure that Buyers Premium is included in the Purchase & Sales agreement.
All Registrations accepted will be acknowledged by the auctioneer. Each participating agent or broker must
bring this acknowledged Registration to the Auction for registration verification purposes. A complete file of
Registrations on all clients will be maintained.
NO Broker registration will be recognized on a client who has previously contracted or been contracted
by the Sellers, their representatives or Auctioneer. Referral fees will be paid upon closing by Sellers at
Pioneer Title, at closing. Referral fees are based on the high bid amount. NO referral fees will be paid by
the seller, if the broker, the broker’s agents or a member of the broker’s immediate family is
participating in the purchase of the property ,an Affidavit will be required certifying the broker is not
acting or participating in any way as a principal. NO sub-agency shall be offered to any broker by
the Auctioneer. There can be NO EXCEPTIONS to this procedure and NO ORAL Registrations will
be accepted. If a referring broker has not met all of these requirements, NO referral fee will be paid
to the referring broker, even if the referring broker’s client purchases a property.
Disclaimer
The information contained in the brochure is subject to inspection and verification by all parties relying on
it. Sellers, their agents and the realEstateAuctions.com assume no liability for its inaccuracy, errors or
omissions. All SQUARE FOOTAGE, DIMENSIONS AND TAXES IN THIS BROCHURE ARE
APPROXIMATE. This offering may be withdrawn, modified or cancelled without notice at any time and is
subject to prior sale. This is not a solicitation to residents of any state where this offering is prohibited by
law.
Page 4 of 2
A
AUCTION REGISTRATION FORM
BIDDER NO.
Buyer Information
Buyer Name:
Co-Buyer Name:
Company/Trust
Name:
I’ll be taking title in a company name or trust
Address:
Street Address
Suite #
City
State
Primary Phone Number
How did you hear about our auctions?
Referral
ZIP Code
Secondary Phone Number
Property Sign
My Realtor®
NO
Email Address
Door Hanger
Web Search
Mailing
Other:
Craigslist.com
YES
Are you working with a Realtor®?
Company
NOTE: Your Agent must accompany you to the auction
& be present during contract signing to earn a commission.
Realtor Name
Realtor’s Phone Number
NO
YES
Is your financing confirmed?
Company
NOTE: This is a cash sale and is not contingent upon
your ability to secure financing. DO NOT BID on a
Property if your financing is not confirmed.
Property Address
Loan Officer Name
Loan Officer’s Phone Number
Check
Amount
Check
Amount
Property Address
TERMS OF USE  I attest that I have read and that I agree to the Terms and Conditions of the auction event.
PROPERTY & DISCLOSURE DOCUMENTATION  I agree to inspect the property and read the disclosure documentation
prior to bidding. I further agree to place no bid unless I am satisfied with my inspection and my examination of disclosure
documentation.
Initials
LENDER CONSENT  In the event my bid is successfully accepted, I agree to, and authorize, the lender to provide
RealEstateAuctions.com with updates on the status of my prequalification or loan request related to the purchase of the
auctioned property. This may include, but is not limited to, the following: (a) whether or not I have made application for a
mortgage loan; (b) whether there are any conditions that must be satisfied prior to approval of the loan; (c) the date on which
loan documents are available for signature; (d) the estimated date the loan is expected to, or actually, funds.
Initials
SIGNATURE:
Initials
SIGNATURE:
Buyer Signature
Date
Co-Buyer Signature
Page 5 of 2 Date
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
REAL ESTATE AUCTION SALES CONTRACT
(Hereinafter, “Contract”)
1. The Parties:
Seller(s) (Name, Address, Telephone Numbers):
_____________________________________________
_____________________________________________
_____________________________________________
Tel: _________________________
Email: _______________________________________
(Hereinafter referred to as “Seller(s)”
Purchaser(s) (Name, Address, Telephone Numbers):
_______________________________________________
_______________________________________________
_______________________________________________
Tel: _______________________________
Email address: __________________________________
(hereinafter referred to as “Purchaser(s)”
RealEstateAuctions.com (Name, Address, Telephone Numbers):
Art Bale, Designated Broker
Real Estate Auctions Arizona, LLC
1030 S Barrel Cactus Ridge
Benson, AZ 85602
Direct: 520-720-0824
Email address: abale@realestateauctions.com
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 6 of 2
2. Defined Terms (in alphabetical order) The following terms found throughout this Contract are defined as follows:
Association Documents – Documents provided by the Home Owners\Lot Owners Association,.
Articles of Incorporation – Legal recognition by the State identifying formal structure of a Company.
Auctioneer – a person who conducts an auction by announcing the lots and controlling the bidding and identified above.
Additional Earnest Money – A deposit made by the potential buyer to show that he or she is serious about buying the
house.
Balance of Purchase Price – The amount remaining to complete the purchase of the Property.
Bid Price – The highest and accepted bid made by the Purchaser at the live cry auction and online bidding held by
Auctioneer on behalf of Seller on 3/26/2015, 4/27/2015, for the sale and purchase of Property.
Buyer’s Premium – An amount equal to 6% of the Bid Price, which amount is added to the Bid Price to determine the
Purchase Price.
By-Laws – A rule made by a local authority for the regulation of its affairs or management of the area it governs.
Closing – A meeting where all of the documents are signed and money changes hands to complete the sale of the
Property to the Purchaser in accordance with this Contract. Pioneer Title will be the Closing agency for this property.
Closing Costs – Any and all costs of closing the transaction that are not otherwise designated in this Contract including
but not limited to costs and fees charged by the Escrow Agent and Title Company such as escrow fees, title company
charges, wiring fees, and recording fees.
Closing Date – The date upon which the Closing shall take place, which shall be within 20 days after auction or sooner
as agreed to by Seller, Should the purchaser fail to close on within 20 days after auction shall constitute default
hereunder.
Commitment for Title Insurance – This insures the property buyer against any title-search errors or mistakes and against
loss due to disputes over property ownership. Title Insurance can additionally offer protection to the lender under similar
circumstances.
Contract – This real estate auction sales contract.
Development – The process of adding improvements to a parcel of land, grading, subdivisions, drainage, access, roads,
utilities.
Escrow Agency – is Pioneer Title, Benson AZ (Kim Lockhart), 520-686-3733
Participating Broker - A brokerage company, or its sales agent, who obtains a buyer for a property that is listed with
another brokerage company
Party – Purchaser or Seller or an Auctioneer or the Broker, each individually.
Parties – Purchaser and Seller and the Auctioneers and the Broker, collectively.
Personal Property – The personal property located within the Real Property as of the Closing, a list of such personal
property material to the sale, governed by this Contract,, is attached hereto.
Real Property – Real land owned or possessed, identified in Section 4 below.
Property – The Personal Property and Real Property purchased by Purchaser pursuant to this Contract.
Purchase Price - The amount of money needed to purchase the Property.
Purchaser – The party to this Contract set forth as the purchaser in number 1 above.
Residence - Any address at which you dwell more than temporarily.
Seller - The party to this Contract set forth as the seller in number 1 above.
Selling Broker – RealEstateAuctions.com c/o REAL ESTATE AUCTION ARIZONA, LLC WITH Designated Broker,
Art Bale,
1030 S Barrel Cactus Ridge, Benson AZ 85602
Title Company – Pioneer Title, Benson AZ 85602.
Earnest Money – 20% of purchase price from highest bidder, $500.00 Bid Deposit will be applied towards earnest
money.
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 7 of 2
3.
Agreed Upon Money Amounts
a)
b)
c)
Bid Price
$_______________________
Buyer’s Premium 6 % of Highest Bid
$_______________________
Purchase Price (Bid Price + Buyer’s Premium)
$_______________________
i. Initial Earnest Money Deposit
$_____500.00____________
ii. Additional Earnest Money Paid by uncollected funds check
$_______________________
Total Earnest Money Required (20% of Purchase Price)
$_______________________
Balance of Purchase Price Due at Closing
$_______________________
The Property: At the price and on the terms set forth herein, Seller agrees to sell to Purchaser, and Purchaser agrees to
purchase from Seller, the Property. The Real Property included in the Property is that certain real estate commonly known
as:
425 N. Easy St. Benson, AZ 85602
At any time, the legal description of the Property may be inserted herein by any Party hereto.
Agreement to Sell and Purchase. Purchaser agrees to purchase, and Seller agrees to sell, the Property at the Purchase Price
set forth here in and upon the other terms and conditions contained in this Contract. Purchaser shall pay the Balance of
Purchase Price due at Closing to the Escrow Agent (plus or minus prorations and Closing Costs and applicable sales tax) of the
purchase and sale transaction contemplated herein (the “Closing”) by cashier’s check to the Escrow Agent. The Escrow Agent
shall distribute the Purchase Price among Seller, the Auctioneers and the Broker in accordance with the auction agreement in
place among Seller, Auctioneers, and Selling Broker.
d)
e)
4.
5.
6.
7.
8.
9.
All Cash Transaction. This is an all-cash sale and purchase; and is NOT contingent upon obtaining financing even though
Purchaser may apply to a lending institution of Purchaser's choice for a mortgage loan and use such loan proceeds to pay a
portion of the Purchase Price. Purchaser understands and agrees that neither their receipt of a commitment from such a
lending institution, their acceptance of such a commitment, nor their satisfaction of any condition set forth in such a
commitment shall in any way be conditions of Purchaser's obligations under this Contract. Seller makes no representation or
warranty as to the availability of Purchaser financing. Seller will consider some owner financing for short term and for
qualified purchaser(s).
Earnest Money. Purchaser has deposited the Initial Earnest Money set forth in Paragraph 3d) and the receipt of which is
hereby acknowledged. . Purchaser acknowledges that TIME IS OF THE ESSENCE as regards this Contract and particularly with
Within 20 days
respect to the Closing.
after auction
Closing. The Closing shall be on or before _________________unless
otherwise mutually agreed upon, provided title has
been shown to be consistent with the provisions of Paragraph 16 of this Contract or is otherwise accepted by Purchaser, at
the office of the Pioneer Title Company located at 363 West 4th St, Benson AZ 85602. Notwithstanding anything else in this
Agreement which may be to the contrary, Seller shall be responsible for all listing brokerage & auctioneer fees (which does
not include buyer’s premium which is part of the purchase price and is solely the Purchaser’s responsibility), as well as title
insurance costs, real estate tax prorations, and State and County transfer taxes. Purchaser shall be responsible for recording
costs and any escrow fees charged by the Title Company, as will as the buyer premium that is included in the sales price.
Delivery of Deed; Transfer of Title. At Closing, Seller shall execute and deliver to Purchaser, or cause to be executed and
delivered to Purchaser, a recordable special warranty deed (or other appropriate deed if title is in trust or in an estate) with
release of homestead rights subject only to the following, if any: building lines, covenants, conditions and restrictions of
record; the Association Documents (as hereinafter defined); private, public and utility easements; roads and highways;
special governmental taxes or assessments for improvements not yet completed; unconfirmed special governmental taxes or
assessments; any matters that would be shown by a survey of the Real Property and general real estate taxes not yet due or
payable, other matters of record not affecting marketability of title, and leases and tenancies, if any as set forth in the title
commitment.
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 8 of 2
10.
Condominium/Community Associations. If applicable, the parties agree that the terms contained in this Paragraph 10, which may
be contrary to other terms of this Contract, shall supersede any conflicting terms.
a)
Purchaser acknowledges that the Residence will be subject to the benefits and obligation of a homeowners association (the
“Association”). Purchaser acknowledges receipt of the following documents and information relating to the Association prior to or
upon execution of this Contract: (a) the CC&Rs Declaration; (b) Articles of Incorporation and By-Laws of the Association; and (c)
the proposed or current budget of the Association (collectively the “Association Documents”). This sale and Purchaser’s title to the
Residence is subject to the terms and conditions of the Association Documents. Purchaser agrees that, from and after the date of
Closing, Purchaser will comply with the provisions of and will perform all the obligations imposed on Property owners by the
Association Documents.
At Closing, Purchaser shall pay (i) an amount Pro-Rated by Pioneer Title for Annual Association Dues and Annual Cochise
Terrace Facilities Fee for the Residence to the Association, said amount possibly including funds for start-up costs and working
capital fund of the Association and (ii) Purchaser’s pro rata share of the assessments attributable to the Residence and due to the
Association for the assessment period during which the Closing occurs.
If the Residence is a condominium, Purchaser acknowledges that the Residence will be subject to the benefits and obligations of a
condominium association (the “Condominium Association”) and Purchaser hereby acknowledges receipt of the following documents
and information relating to the Condominium Association: (a) the Condominium Association Declaration; (b) the Articles of
Incorporation and By-Laws of the Condominium Association; (c) the proposed or current budget of the Condominium Association; and
(d) floor plan of the Residence; all of the foregoing documents are collectively referred to herein as the “Condominium Documents”).
This sale and Purchaser’s title to the Property is subject to the terms and conditions of the Condominium Documents. Purchaser
agrees that, from and after the date of Closing, Purchaser will comply with the provisions of and will perform all the obligations
imposed on owners of Property within the Development by the Condominium Documents.
b)
c)
11.
Possession. Seller shall surrender possession of the Property on the Closing Date, provided this sale has been closed.
12.
Prorations. At closing, Purchaser shall receive a credit for real estate taxes for the unpaid real estate taxes not yet due based upon
estimates from Pioneer Title. General real estate taxes shall be prorated THROUGH the date of closing. All prorations are final. All
prorations shall be made through 11:59pm on the day of closing. Purchaser shall pay any sales tax due as a result of the sale of the
Personal Property.
13.
Commission. Seller shall pay, or cause to be paid, the commissions at Closing, as provided in the Auction Agreement in place
between Seller and Auctioneer. The provisions of this Paragraph 13 shall survive the closing.
14.
Brokers/Agency/Owner-Licensee Disclosure. Purchaser represents and warrants to Seller that no auctioneer or broker, other than
Auctioneer and Real Estate Auctions Arizona LLC, (“Participating Broker”) was involved in showing, submitting or selling the
Property to Purchaser. Purchaser agrees to indemnify and hold Seller, Auctioneer and Participating Broker harmless and defend
them from any claim relating to Purchaser's purchase of the Property asserted against the Seller, Participating Broker or Auctioneer
by any broker other than as set forth in this Paragraph 14. The provisions of this Paragraph 14 shall survive the closing. Purchaser
acknowledges that Auctioneer and its licensed agents represent the Seller as Seller's agent in the sale of this Property and
specifically do not represent the Purchaser. Auctioneer is dealing with Purchaser as a customer and not as a client, which confirms
that Auctioneer has no fiduciary to the Purchaser.
15.
Title/Survey. At least five days prior to Closing, with respect to the Real Property, Seller & Pioneer Title shall show to Purchaser or
his agent evidence of merchantable title in the intended grantor by delivering a Commitment for Title Insurance issued by the Title
Company bearing date on or subsequent to the date of the acceptance of this Contract, in the amount of the Purchase Price subject
to no other exceptions than those listed in Paragraph 9 and to general exceptions contained in said commitment. Every Commitment
for Title Insurance furnished by Seller hereunder shall be conclusive evidence of title as therein shown. If evidence of title discloses
other exceptions, Seller shall have five (5) days from Seller’s receipt of evidence of title to cure such exceptions and notify Purchaser
accordingly, and as to those exceptions which may be removed at closing by payment of money, Seller may have same removed at
closing by using the proceeds of sale in payment thereof.
16.
Default.
a)
Purchaser’s Default. At Seller’s option, Purchaser shall be in default under the terms of this Contract if, in addition
to any other default specified herein, Purchaser shall:
i)
fail to close pursuant to the terms hereof;
ii) fail to timely make any payment required of Purchaser hereunder;
iii) fail to appear at the time and at Pioneer Title as designated by Seller as provided herein, to
close the transaction; or
iv) fail to enter into the escrow agreement described herein or to make the deposit at the times
required thereunder.
v) If Seller declares Purchaser in default pursuant to the terms herein, or if Purchaser fails or
refuses to carry out any other obligation of Purchaser under the terms of this Contract and any
supplemental agreements made a part hereof, or Purchaser defaults under any provision
hereof, then, at Seller’s option, this contract is terminated, and, upon notice to Purchaser,
the earnest money shall be forfeited and shared between Auctioneers and Seller in
accordance with the agreement between them. Seller may also elect to assert against
Purchaser any other remedy available, at law or in equity
Purchaser Initial ___________ Purchaser Initial ____________ Seller Initial ___________ Seller Initial___________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 9 of 2
17. Interpleader. If either party objects to the intended disposition in writing within the aforementioned 10-day grace period or at
Auctioneer’s sole discretion and option, then the parties hereto agree that Auctioneer may deposit earnest money, less costs,
with the Clerk of the Circuit Court of Cochise County, Arizona by the filing of an action in the nature of interpleader. The parties
agree that Pioneer Title may be reimbursed from the earnest money for all costs, including reasonable attorney’s fees, relating
to the filing of the interpleader and do hereby agree to indemnify, defend and hold Auctioneer harmless from any and all claims
and demands, including the payment of reasonable attorney’s fees, costs and expenses arising out of such default claims and
demands.
18. Inspection. Purchaser represents that either Purchaser or a duly authorized agent of Purchaser has inspected the Property and
verified the facts and information contained in any materials provided to, or discovered by, Purchaser prior to bidding for the
Property and executing this Contract. Except as otherwise expressly stated in this Contract), Purchaser warrants that Purchaser
is purchasing the property and the contents thereof on an “as-is, where-is” basis, with no warranties of any kind, express or
implied, either oral or written, whether of habitability, merchantability, fitness for a particular purpose, non-infringement,
condition of improvements, environmental condition or otherwise made by seller or any agent of seller, including, but not
limited to, information contained in any of Auctioneer’s sales materials, including but not limited to, the sales brochure or
supplemental brochures and/or representations and warranties regarding zoning matters, the ability of the Purchaser to
construct new improvements, the ability of Purchaser to remodel existing improvements, the availability of zoning variances,
building and demolition permits or plats of consolidation and/or subdivision. Seller, Auctioneer, or any of their agents
assumes no liability for inaccuracies, errors or omissions contained in any aforesaid sales materials provided to Purchaser.
Utah law provides that every contract for the construction of a new home carries with it a warranty that when completed,
the home will be free of latent defects and will be reasonably suited for its intended use as a home. The law further provides
that this implied warranty of habitability does not have to be in writing to be part of the contract and it covers not only structural
and mechanical defects such as may be found in the foundation, roof, masonry, heating, electrical and plumbing, but also any
defects in workmanship which may not be easily seen or discovered upon an inspection or viewing of the property by purchaser.
Utah law, however, also provides that a seller-builder and a purchaser may agree in writing, as here, that this implied warranty
of habitability is not included as a part of their particular contract. Purchaser hereby agrees that in consideration of the
transaction herein contemplated Purchaser waives the implied warranty of habitability described herein.
19.
20.
21.
22.
IN NO EVENT SHALL SELLER OR AUCTIONEERS BE LIABLE TO PURCHASER OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL,
EXEMPLARY, INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR SIMILAR DAMAGES, WHETHER FORESEEABLE OR UNFORESEEABLE,
REGARDLESS OF THE CAUSE OF ACTION ON WHICH THEY ARE BASED, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES
OCCURRING. WITH RESPECT TO THE SALE OF THE PERSONAL PROPERTY, IN NO EVENT SHALL R. WRIGHT, INC. BE LIABLE TO
PURCHASER OR ANY THIRD PARTY FOR LOSSES IN EXCESS OF THE PORTION OF THE PURCHASE PRICE RECEIVED BY WRIGHT FOR
THE PERSONAL PROPERTY IN ACCORDANCE WITH THIS AGREEMENT.
Purchaser’s Initials _____ _____
Purchaser’s Duty to Review. Purchaser acknowledges that Purchaser has not relied upon any sales plans, selling brochures,
advertisements, representations, warranties, statements or estimates of any nature whatsoever, whether written or oral, made
by Seller, Auctioneer or others, including, but not limited to, any relating to the description of physical condition of the Property,
or the dimensions of the Property or any other physical dimensions thereof, the estimated sales or real estate taxes of the
Property, the right to any income tax deduction for any real estate taxes or mortgage interest paid by Purchaser, or any other
data, except as may be specifically represented herein. Purchaser has relied on his or her own examination and investigation
thereof. No person has been authorized to make any representation on behalf of Seller. Purchaser agrees (a) to purchase the
Property without offset or any claim against, or liability to, Seller or its agents, whether or not any layout or dimension of the
Property or any part thereof, is accurate or correct, and (b) that Purchaser shall not be relieved of any of Purchaser’s obligations
hereunder by reason of any minor inaccuracy or error. The provisions of this Paragraph 19 shall survive the Closing.
Material Destruction/Risk of Loss. If, prior to Closing, the Real Property shall be destroyed or materially damaged by fire or
other casualty, this Contract shall, at the option of Purchaser exercised by notice to Seller within thirty (30) days after such
destruction or damage, be null and void and all sums deposited by Purchaser hereunder including Earnest Money and prepaid
charges for any changes shall be refunded to Purchaser.
Notices. All notices herein required shall be in writing and shall be served on the parties at their addresses set forth in Paragraph
1 above. The mailing of a notice by registered or certified mail, return receipt requested, shall be sufficient service when the
notice is mailed. Notices may also be served by personal delivery or by the use of a facsimile machine with proof of transmission
and a copy of the notice with proof of transmission being sent by regular mail on the date of transmission, and shall be effective
upon personal delivery or upon confirmed fax transmission or verified email attachment, as the case may be.
Recording. Purchaser shall not record this Contract or any memorandum of this Contract and any such recording shall constitute
a default by Purchaser hereunder.
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 10 of 2
23. Attorney Review. PURCHASER, BY ITS BIDDING FOR PROPERTY AND ITS EXECUTION OF THIS CONTRACT WARRANTS
AND REPRESENTS TO BOTH SELLER AND AUCTIONEER THAT PURCHASER HAS CONSULTED WITH AND REVIEWED THIS
CONTRACT WITH AN ATTORNEY PRIOR TO EXECUTING THIS CONTRACT. Purchaser further acknowledges that he has read
and understands each and every part of this Contract. There shall be no amendments or modifications to this Contract by
Purchaser or its counsel.
Initials: Seller’s: _____ _____ Purchaser’s _____ _____
24. Property Condition. The parties hereto acknowledge that Auctioneer is not obligated to and has not made any independent
investigation of the condition of the Property including, but not limited to, the physical condition of the structure (exterior or interior), the
fixtures, personal property and equipment therein, if any, or any environmental matters with respect thereto (collectively the "Physical
Condition") nor is the Auctioneer competent or expert in such matters. The parties hereto further acknowledge that all investigations,
reports and information with respect to the Physical Condition, if any, have been prepared by or for the Seller and have been furnished by
Seller to the Auctioneer and in turn by the Auctioneer to Purchaser on behalf of Seller, who shall be solely responsible for all such
information.
25. Disclosures. If applicable, prior to signing this Contract, Purchaser received and had an opportunity to review the following : None.
Purchaser is responsible for performing a personal due diligence on this property and that has been completed.
Furthermore, Purchaser represents that Purchaser was advised of their right, and had the opportunity, to conduct a risk assessment or
inspection for the presence of radon and/or radon hazards, and hereby waives the opportunity to conduct a risk assessment or inspection
for the presence of radon and/or radon hazards.
26. Request for Escrow. At the request of Seller or Purchaser, evidenced by written notice to the other party at any time prior to the date
for delivery of deed hereunder, this sale shall be closed through an escrow with the Title Company, in accordance with the general
provisions of the usual form of Deed and Money Escrow Agreement then furnished and in use by said company, with such special
provisions inserted in the escrow agreement as may be required to conform with this Contract. Upon the creation of such an escrow,
anything herein to the contrary notwithstanding, payment of purchase price and delivery of deed shall be made through the escrow and
this Contract and the earnest money shall be deposited in the escrow and Auctioneer shall be made a party to the escrow with regard to
commission due. The cost of the escrow shall be paid by the party requesting it.
27. Other Documents. Seller agrees to furnish an affidavit of title subject only to those items set forth herein, and an ALTA statement if
required by Purchaser’s mortgagee, if any, a bill of sale and transfer tax declarations required. Seller and Purchaser agree to execute all
other documents reasonably required by Title Company to close this sale and transfer title of the Property to Purchaser.
28. Existing Mortgage. Seller shall have the right to pay off any existing mortgage(s) out of the proceeds of this sale.
29. RESPA. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions
of the Real Estate Settlement Procedures Act of 1974, as amended.
30. Stamp Taxes. If appropriate, Seller shall pay the amount of any stamp tax imposed by the state and county on the transfer of title to the
Real Property, and shall furnish a completed declaration signed by the Seller or Seller’s agent in the form required by the state and
county, and shall furnish any declaration signed by the Seller or Seller’s agent unless otherwise designated by any local ordinance with
regard to a transfer or transaction tax. Any tax required by local ordinance shall be paid as required pursuant to such ordinance.
31. Personal Property on Premises. By date of possession Seller shall remove all debris and Seller’s personal property not conveyed
by Bill of Sale to Purchaser from the premises.
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 11 of 2
32.
Use of Pronouns. Wherever appropriate, the singular includes the plural and the masculine includes the feminine or the neuter. The term “Purchaser”
shall be interpreted as “Purchasers” if more than one person is purchasing the Property, and their obligations shall be joint and several.
33.
Successors, No Assignment. The provisions of this Contract shall bind and inure to the benefit of Purchaser and Purchaser’s heirs, legal
representatives, successors and permitted assigns and shall bind and inure to the benefit of the Seller and its heirs, legal representatives, successors and
assigns. This Contract may not be assigned, in whole or in part, by either party without the prior written consent from the other party.
34.
Headings. The paragraph headings used herein are for the reader’s convenience only and they shall not be used to interpret the meaning of the terms
set forth herein.
35.
Exhibits. Exhibits attached hereto are incorporated as a part of this Contract.
36.
Governing Law. The parties agree that any litigation or dispute concerning the enforcement of this Contract shall be brought in the State of Utah, the
jurisdiction shall be the County of Morgan, and that Utah law shall govern its interpretation.
37.
Severability. If any provision of this Contract is invalid or unenforceable as against any party under certain circumstances, the remainder of this Contract
and the applicability of such provision to other persons or circumstances shall not be affected thereby. Each provision of this Contract, except as otherwise
herein provided shall be valid and enforced to the fullest extent permitted by law.
38.
Complete Agreement. This Contract sets forth the entire understanding between the parties relating to the transactions described herein, there being
no terms, conditions, warranties or representations other than those contained herein. This Contract may be amended only in an instrument signed by both
parties hereto. The parties intend that faxed signatures and that a faxed Contract containing the signatures (original or faxed) of all parties is binding on the
parties and the foregoing shall also apply to PDF computer files sent as email attachments. At the request of either party, any faxed or PDF scanned
document sent by email attachment subject to this paragraph 41 shall be re-executed by both parties in an original form. Neither party shall raise the use of
a facsimile machine or scanned PDF file email attachment as a defense to this Contract and shall forever waive such defense.
39.
Invalidity. The invalidity of any covenant, grant, condition or provision of this Contract shall not impair or affect in any manner the validity, enforceability
or effect of the remainder of the Contract.
40.
Residence Completion. In the event Purchaser has agreed to purchase an incomplete Residence and Seller has agreed to complete the Residence,
pursuant to Paragraph 3 hereof, in such event the Residence shall be constructed and delivered to Purchaser on the Closing Date substantially completed.
Purchaser understands and agrees that materials used in construction and completion may vary somewhat from any samples provided; such variances are
inherent in manufacturing and shall not be grounds for any refusal by Purchaser to accept the Residence. Purchaser further agrees that upon delivery of
the Residence in a substantially complete condition Seller shall have no further obligation to perform any other work within the Residence including, without
limitation, any “punch list” type items. Seller and Purchaser acknowledge and agree that the cost of the substantial completion of the Residence is included
within the Purchase Price.
41. Counterpart Execution. This Contract may be executed in counterparts, each of which will be deemed an original document, but all of which will
constitute a single document. This Contract will not be binding on or constitute evidence of a contract between the Seller and Purchaser until such time as a
counterpart of this Contract has been executed by each party to it and a copy of thereof delivered to the other party to this Contract.
42. IN WITNESS WHEREOF, the parties have executed this Contract on the dates set forth below their signatures.
SELLER:
Approval
____________________________________________
Seller Signature
PURCHASER:
___________________________________________
Purchaser Signature
____________________________________________
Seller Signature
___________________________________________
Purchaser Signature
__________________________________________
Print Seller(s) Name(s)
___________________________________________
Print Purchaser(s) Name(s)
____________________________________________
Date of Acceptance
AUCTIONEER:
Name: ______________________________________
Email: ______________________________________
Phone: _____________________________________
Purchaser Initial ______________ Purchaser Initial ______________
Seller Initial ______________ Seller Initial______________
RealEstateAuctions.com Sales Contract No. 04202012-1
Page 12 of 2
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
PART 3
Deposit Wiring
Instructions
POINT OF CONTACT
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Page 1 of 3
For Detailed Information,
On-site Inspection and Auction Information,
Call Art Bale, 520-720-0824
Page 2 of 3