Terms and Conditions: Terms: $2,000 down as Earnest Money Day of Auction with Balance Due in Full at Closing within 30 Days. 10% Buyer's Premium will be charged. Property will sell subject to Sellers approval. High bidder will immediately sign a purchase agreement for their bid plus the 10% buyer premium and submit $2000 earnest money in the form of cash, cashiers check or direct deposit into Orrell Auctions Real Estate PLLC Trust Account. When accepted and signed by the seller, this agreement becomes the purchase contract. Seller will have 48 hrs to accept or reject the bid. Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Ex: $60,000 bid price + (10%) $6000 = $66,000 contract price Down Payment/Earnest Money: With purchase agreement, Bidder will submit $2000 to be deposited and escrowed in Orrell Auctions & Real Estate PLLC's Trust Account. Down payment will be credited to buyer at closing. Balance of purchase price required in approximately 30 -45 days at closing. If you cannot close you will forfeit your down payment. Acceptable Currency for down payment: Cashier's check, wire transfer, direct deposit or good personal or company check preapproved by auctioneer or accompanied by bank letter guaranteeing payment. Warranties & Contingencies: 1. Property sells "as is" with no warranties from the seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid. 2. Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be arranged before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money. Survey: Optional, at buyers expense Title: Seller will guarantee good title at closing by providing Owner's Title Insurance and a Warranty Deed free of all liens and encumbrances but subject to any easements of record. Closing will be in approximately 30 - 45 days from auction. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any. Property taxes will be prorated as of the date of closing.