Property sells ABSOLUTE with NO RESERVE
Building was utilized as a Laundromat
Personal Property included in sale:
- 8 washing machines
- 6 clothes dryers
- Change machine
- Hot water boiler with holding tank
- Assets in building sell with real property
Pre bid inspection: Monday June 25, 2018 from 4:00 to 6:00 p.m. or by appointment
Bidding begins: June 23, 2018 and begins to close June 27, 2018 at 12:00 pm.
Licensed Broker/Auctioneer:
Judson Seaman 701-523-4909 North Dakota Auctioneer Lic. #556
VERY IMPORTANT!!! READ CAREFULLY BEFORE YOU ATTEMPT TO BID. ONCE YOU BID, YOU WILL BE BOUND LEGALLY BY THE FOLLOWING TERMS AND CONDITIONS AS STATED!!
Auction Ending Date and Time: Wednesday June 27, 2018 at 12:00 P.M. Mountain Time.
Preview Date: Monday June 25, 2018 from 4 to 6 pm. Or by appointment call (701) 523-4909 to make appointment.
Buyers Premium: 10% buyer fee added to the final bid price will be the contract price. Example: If property sells for $100,000 x 10% buyer fee the contract price would be $110,000.
Payment: Successful bidder shall deposit 100% irrevocable earnest money and enter into a purchase contract within 48 hours of the conclusion of the auction. The remaining closing cost will be made in verifiable funds or cash at closing, on or before July 12, 2018.
Kinsey Auctioneers & Real Estate, LLC Online Auctions Feature “A MAX BID” Option as well as a “SOFT CLOSE” feature.
“A MAX BID” may be placed on any item and the computer will bid on your behalf, thus eliminating the need to continually watch your bids. This option is highly recommended so you do not miss out on an item you are bidding on. In the event you do not use the MAX BID feature and you are out bid you will be notified via e-mail or text that you have been outbid and will have the opportunity to raise your bid.
“THE SOFT CLOSE” feature means any bid received in the final minutes of the auction will automatically extend bidding on that particular item or lot by five minutes to allow another bidder the opportunity to raise their bid.
GENERAL TERMS: The auction will be conducted by Kinsey Auctioneers & Real Estate, LLC on behalf of the owners of the property, referred to as the Seller. Auctioneer is not responsible for the acts or representations of Seller. The auction shall be governed by the terms set forth herein (the agreement), and any additional terms and conditions that are posted concerning the specific property. The Agreement constitutes a valid, binding contract between individuals participating in the auction with the intent to purchase property, referred to as the Bidder or Buyer, and Seller/Auctioneer. The term Bidder or Buyer shall include, but not limited to, the individual or the company represented by the individual and any and all of its agents, employees, representatives, officers, and directors. . The act of submitting a bid shall constitute Bidder acceptance of each and every term and condition contained herein, any additional terms and conditions posted with the property, and any changes made within the full agreement. All persons attending and inspecting the property assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer from all liability. Auctioneer is not liable by reason of any defect in, or condition of, the property or the premises on which the preview/sale is held. Auctioneer is released for any claims to actual damage to the property sold and/or consequential damages that may result from the sale of defective property.
DISCLOSURES/NO WARRANTY: There is no warranty offered, expressed or implied, by Kinsey Auctioneers & Real Estate, LLC or Sellers for any property. All property is sold “AS-IS, WHERE-IS, and WITH ALL FAULTS” and defects therein. All information provided is believed to be correct but NO warranty as such is either expressed or implied, including but not limited to the merchantability or fitness for a particular purpose. Bidder is solely responsible to determine condition, age, authenticity, value or any other determinative factor. Bidder inspection of the property prior to submitting a bid is strongly recommended. ALL SALES ARE FINAL!!
AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed purchase agreement and the 100% irrevocable earnest money deposit, the winning bidder will be charged a penalty fee of $5000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Kinsey Auctioneers & Real Estate, LLC and the Seller as provided in the Auction Terms and Conditions and the purchase agreement. Kinsey Auctioneers & Real Estate, LLC reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale. Any dispute between Kinsey Auctioneers & Real Estate, LLC its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Bowman County, North Dakota.
Real Estate Terms & Conditions: Absolute Auction! Property sells to the highest bidder auction day without minimum or reserve! Property sells “as is – where is and with all faults”. Seller, Auctioneer or Broker are not making any guarantees of any kind, either expressed or implied. Auctioneers, Brokers and their associated staff are representing the seller’s interest in this transaction. All information was derived from sources deemed reliable; however, neither Seller nor the Auctioneers/Brokers are making any guaranties or warranties, actual or implied.
Property is selling by legal description only and no property survey will be provided by seller. Marketable title will be transferred by Warranty Deed, subject to easements, covenants, restrictions and reservations of record. An updated abstract will be provided by seller. 2017 and prior taxes will be paid by seller. 2018 real estate taxes will be prorated to date of closing using the most current tax levy.
Successful bidder shall deposit 100% irrevocable earnest money and enter into a purchase contract within 48 hours from the conclusion of the auction. The remaining closing balance will be made in certified funds or cash at closing, on or before July 12, 2018. Immediate property possession is available upon closing and buyer will make no changes to property prior to closing. Closing costs shall be split evenly between the buyer and seller. Property sold without any buyer contingency of any kind. Have financial arrangements secured prior to bidding. Inspect the property to the extent necessary both on and off premises and rely on your own judgment when bidding. Property sells to the highest bidder auction day without minimum or reserve!
When using our online auction services you are making firm commitments to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. Non paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. You also acknowledge that the Internet may be an unreliable and error prone network. Kinsey Auctioneers & Real Estate, LLC will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Kinsey Auctioneers & Real Estate, LLC and their employees harmless for any interruptions in online bidding. Kinsey Auctioneers & Real Estate, LLC retains the right, at our sole discretion, to add, delete or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. Kinsey Auctioneers & Real Estate, LLC further reserves the right to cancel and/or reopen the auction in the case of system failures.
