ONLINE REAL ESTATE AUCTION TERMS & CONDITIONS
The Following Terms & Conditions Apply to The Online Real Estate Auction of 1704 S. Lake Shore Dr. Located at Lake Village, AR 7163, Chicot County Parcel Number: 030-01054-000. Bidder must read and accept all of the terms and conditions set forth below. (SCROLL DOWN & READ ALL TERMS BEFORE PLACING ANY BIDS)

Buyer's Premium: A buyer's premium of Ten percent (10%) of the high bid will be added to the bid to determine the final purchase price.
Upon the Sellers acceptance of the highest bid, the successful purchaser will be required to make an earnest money down payment in the amount of 20% of the contract purchase price. The balance is due in approximately 30 days at closing. Purchaser will receive a General Warranty Deed at closing. Additionally, Seller will provide the purchaser an Owners Title Insurance Policy at closing. Buyer & Seller will each pay their respective portion of the closing cost & taxes will be prorated to the date of closing.

Wooley Auctioneers requires a credit card for bidder verification purposes only. We will never charge your credit card for real estate transactions. Wooley Auctioneers will contact the winning bidder by phone at the conclusion of the auction with detailed payment instructions. (See payment instructions below)
Buyer's Commitment: Your bids placed on the Wooley Auctioneers website/bidding platform are a FIRM COMMITMENT TO BUY and you are responsible for paying all amounts due.

Currency Type: USD

Auction Location: Internet Online Only

Payment Instructions: Winning bidder will be required to put 20% of the contract purchase price immediately following the auction in form of a cashier's check made out to South East Title & Escrow Company, Inc., Located at 521 Main Street, Lake Village AR 71653. PHONE: 870-265-9799. The balance will be due in approximately 30 days at closing. Buyer & Seller will each pay their respective portion of the closing cost & taxes will be prorated to the date of closing.

Additional Terms of Sale:
1. Your bid is a FIRM COMMITMENT TO BUY should you be the winning bidder.
2. All property is sold "AS IS".
3. By bidding on property, the bidder shows acceptance of the terms of the auction.
4. All announcements made prior to the close of the Internet bidding take precedence over all written or verbal statements.
5. Wooley Auctioneers attempts to describe the properties to the best of our abilities however we make no representations or guarantees. In no event shall Wooley Auctioneers, Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a purpose. Nor shall we be responsible for any errors or omissions in the description of the properties.
Wooley Auctioneers, Inc. is providing an Internet auction as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall bidder have any kind of claim against Auction Company or anyone else if the Internet service fails to work correctly during the online auction. Auction Company will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy bidding feature and leave their maximum bid at least 24 hours before the auction closes. Auction Company reserves the right to withdraw or re-catalog items in this auction.

EXPLANATION SOFT CLOSE: if an item receives a bid within the last 5 minutes, then the close time will be extended 5 minutes from the time the bid is placed. The time will continue to be extended for 5 minutes with each newly placed bid and the item will not close until 5 minutes have elapsed with no additional bid activity. This does eliminate "snipers" from our Internet Auctions. Please be assured that we have taken every precaution to set the site up in a transparent manner that allows for the fairest environment for both buyers and sellers

Attention Lake Village Home Buyers & Real Estate Investors! Featuring a historic 3,338+/- SF Lakefront brick home situated on .45+/- Acres on the banks of Lake Chicot. The home was originally built in 1930 with several additions added through the years. Located on the corner of S. Lakeshore Dr. and Hawkins Dr. in Lake Village, AR. The home features 3 beds, 3 baths, an open floor plan, formal dining room, day room, large living room and an eat in kitchen. The home includes large living areas that would be great for entertaining, 2 wood burning fireplaces and office space. Exterior features include a beautifully landscaped courtyard, large mature trees, a fountain, concrete patio space, pool, pump house and his & her outdoor bathrooms. The home includes a 2-car garage and a brick perimeter wall surrounding court yard and pool. The home is equipped with municipal water, gas, electric & central heat & air. AUCTIONEERS NOTE: This home is in need some repair and could use some updating. The pool and outdoor bathrooms are not operational and have not been maintained in several years. Additionally, the roof is in need of repair and there has been some water damage due to leaks. The Schwartz Family has decided to sell the home in "as is" condition at auction instead of performing the repairs.