Registration All bidders must complete the Bidder Registration Form that will be sent to you once you register online. No bidder will be approved until the Bidder Registration Form has been completed, signed and received by Morris Realty & Auction. Bid Deposit: $2,500.00 Bid Deposits will be accepted in the form of cashiers check or personal check with a bank letter guaranteeing the amount or a combination of these payment types. The high bidder will pay the Bid Deposit upon signing the sales contract after the auction. Inspection All inspections must be done prior to the auction date since the sales contract will have no provisions subject to inspection. To preview the property, please call our office to make arrangements to gain access. Please do not bid on this property until you have thoroughly inspected the property Buyer’s Premium A buyer’s premium of ten percent (10%) will be added to the high bid to determine the total price to be paid. No Contingencies All auction properties are sold in as is condition. No purchase shall be contingent on financing or any other contingencies. Potential buyers are given ample time to inspect properties prior to auction. Terms and conditions are preset and non-negotiable. Broker Participation All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out and signed). The form may be obtained by calling 901-565-7770. This form must be submitted to Morris Auction Group no later than 24 hours prior to the Auction. Closing The successful bidder agrees to sign our standard real estate sales contract at the auction. The entire purchase price must be paid by Cashier’s or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction. Closing is to take place at the offices of: Ray Beliles 1669 Kirby Pkwy, Suite 100 Memphis, TN 38120 901-753-6030 Disclaimer Announcements made at the auction supersede all printed material. All information included herein was derived from sources believed to be correct, but is not guaranteed. Governing Law These Bidder Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Tennessee, including its statues of limitations, but without regard to its rules governing conflict of laws. All claims, disputes and other matters between the parties shall be brought in the state or federal courts sitting in and for Shelby County, Tennessee, which courts shall have exclusive jurisdiction, and shall be the exclusive venue, for any and all such claims, disputes, and other matters. By submitting a Bidder Registration and accepting a Bidder Number, each Registered Bidder irrevocably and unconditionally (i) agrees that any claim, suit or cause of action relating to these Bidder Terms and Conditions, or the transactions contemplated hereby, shall be brought in the state or federal courts sitting in and for Shelby County, Tennessee, (ii) consents to the jurisdiction of such courts for any such claim, suit or cause of action, (iii) waives any objection that such party may have to the laying of venue of any such claim, suit or cause of action in such courts; and (iv) waives any objection to the bringing of such claim, suit or cause of action in such courts on the grounds of forum non conveniens.