Sales 1-7 Spring Ballroom Absolute Auction

10% BUYERS PREMIUM WILL BE ADDED TO EACH SUCCESSFUL BID<br>
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This is an Absolute Auction - All Sales are Final. At the live auction event, a brief announcement will be made before each property is sold. Please pay very close attention as this will cover the terms and conditions for that property. If you are the successful bidder, you will sign a contract at that time. The highest bid plus a 10% Buyers Premium will be the total sales price. All successful bidders will be required to sign a note for the deposit amount, in addition to deposit paid day of sale. Note shall become null and void when buyer shall complete all requirements for closing as set out in their contract.<br>
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Online Bidding Terms:<br>
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ALL ONLINE BIDS ON THIS MARCH 15TH AUCTION START FRIDAY, MARCH 7TH, AT 10:30 AM EST AND WILL END ON SATURDAY MARCH 15TH DURING LIVE AUCTION BEGINNING AT 10:30 AM EST. BY PLACING INTERNET BIDS ONLINE FOR LIVE EVENT, YOU AUTHORIZE MCCARTER AUCTION INC. OR ITS AFFILIATES TO IMPLEMENT YOUR BIDS AT THE LIVE AUCTION.<br>
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NOTE during the live close of this auction: A system operator will sit next to the auctioneer and offer online bidders the same bid opportunities that are being offered to the onsite bidders. If a bid is made via the internet, the operator will represent that bidder. Note that the operator may be bidding for several different online bidders at the same time. No preference is made for either onsite or online bidders; the bid will go to the first accepted by the auctioneer. Any tie bid or other issues regarding who has the high bid are always resolved by the Auctioneer, who has complete and final authority.<br>
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THE FINAL SALE OF PROPERTIES USING INTERNET BIDS AND LIVE ONSITE BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.<br>
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INTERNET BIDDING INCREMENTS =<br>
$0 TO $100 --- 5.00<br>
$100.01 TO $250.00 --- 10.00<br>
$250.01 TO $1,000.00 --- 25.00<br>
$1,000.01 TO $2,500.00 --- 50.00<br>
$2,500.01 TO $10,000.00 --- 100.00<br>
$10,000.01 TO $25,000.00 --- $250.00<br>
$25,000.01 TO $50,000.00 --- $500.00<br>
$50,000.01 TO $250,000.00 --- $1,000.00<br>
$250,000.01 TO $500,000.00 -- $5,000.00<br>
$500,000.01 AND UP --- $10,000.00<br>
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BID PACKAGE: Auction Sales Contract &amp; Promissory Note Package, along with any other paperwork pertaining to each sale #, will be sent by e-mail from McCarter Auction Inc to the successful bidder, who must execute and fax or email back to McCarter Auction Inc within 24 hours of receipt. Successful bidders not executing and returning their contract &amp; promissory note with earnest money deposit (10% non refundable deposit of total purchase price (certified funds or wire) made payable to McCarter Auction Inc) 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. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees and closing fees as set out in Auction Sales Contract and Auction Statement of Sale.<br>
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Auction Administrative Fee: In the event a winning bidder fails to submit the signed “Auction Sales Contract,” signed “Promissory Note,” and deposit earnest money 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 McCarter Auction Inc and the Seller as provided in the Auction Statement of Sale, the Auction Sales Contract and the Promissory Note. All Administrative Fees are non-refundable.<br>
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AUCTION SALES CONTRACT, PROMISSORY NOTE, and STATEMENT OF SALE: Each property is offered under specific terms provided in the auction sales contract, promissory note, and statement of sale. The Auction Sales Contract, Promissory Note, Statement of Sale will be available at www.mccarterauction.com in the “View Documents” section of this auction website. Please read and review the contract, promissory note, and statement of sale thoroughly prior to bidding on any property. If you have not read and reviewed the Auction Sales Contract, Promissory Note, Statement of Sale and all other materials available plus completed your own “due diligence” to satisfy all questions, please Do Not Bid!<br>
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Buyer’s Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.<br>
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McCarter Auction Inc has the sole authority to resolve any bidding disputes as they may arise.<br>
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McCarter Auction Inc is providing internet/online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the ending day of the auction. Under no circumstances shall Bidder have any kind of claim against McCarter Auction Inc or anyone else if the internet service fails to work correctly before or during the ending of the auction. McCarter Auction Inc will not be responsible for any missed bids from any source. <br>
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TERMS: Real Estate: A 10% deposit in cash, cashiers check or good personal check will be required day of sale if you are at live event. Balance due at closing within 30 days on Sales 1-6, 45 days on Sale 7 if approved by court.