PROPERTY IS SUBJECT TO PRIOR SALE

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY.

IF YOU HAVE NOT READ AND REVIEWED THE TERMS and all DOCUMENTATION PROVIDED IN THE FILES TAB IN REGARD TO THE CONTRACT OF THE PURCHASE AND SALE OF REAL ESTATE, DO NOT BID.

All terms are set by the Seller.

Purchaser and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is Taylor Auction & Realty, Inc., and is acting as agent for the Seller in this transaction. Taylor Auction & Realty, Inc. is not acting as agent in this transaction for the Purchaser.

Auction Date and Method of Sale: The online auction closes on Thursday, July 25, 2019 at 12 pm with a soft close. This online auction is set for automatic approval. You may register for the auction. However, before you bid, please print from the Documents Section the form, Working with a Real Estate Broker. After printing and reviewing, please acknowledge by your signature above the Customer line your acknowledgement of non-representation. In addition, please download all documents in regard to this auction. Before you place a bid on the home, please print, sign and return to our office the Property Condition Disclosure Form, page 2 of the INFORMATIONAL STATEMENT FOR MISSISSIPPI PROPERTY CONDITION DISCLOSURE STATEMENT and page 6 of PROPERTY CONDITION DISCLOSURE STATEMENT. Please email to ruthie@taylorauction.com or fax to 1.662.227.1653. If you need assistance with these forms, please call us at 1.662.226.2080.

Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction to provide an accurate description of the property. Real Estate selling AS IS and neither the Seller nor Taylor Auction & Realty, Inc. make any warranties or representations, express or implied, as to the habitability or condition of the real property. It is encouraged that you inspect the property you wish to purchase PRIOR TO THE ONLINE AUCTION. No sale is contingent upon a property inspection by the successful bidder after the auction or is the sale contingent upon Buyer obtaining financing. Printed statements or descriptions by staff or the seller are provided in good faith and are matters of opinion. Bidders must conduct and rely solely upon their own investigations and inspection in regard to the condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

In regard to Inspection, please call 662-226-2080.

BROWSER INFORMATION: Google Chrome and Mozilla Firefox is the preferred Internet Browser for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9 and 10, bidders are more likely to have issues with Internet Explorer when using our website.

MAX BIDS:
Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. Someone else has to bid to increase the current price and the computer will automatically bid up to your max in the increments specified.

Auction Auto Extend:

This feature extends the bidding for the one lot in the auction. The auction is extended for the amount of time supplied in the Auto Extend field which is 5 minutes. This behaves differently than normal Auto Extend. If the End Time is 12:00 PM, Auto Extend is set at 5 minutes, and a bid is placed 4 minutes before the end of the auction, this will only extend the auction to 12:01 PM. The actual end time shown for the auction is the end time for all items and other bidders are always given the amount of time supplied as Auto Extend to consider placing a bid. Please note that this feature changes the actual end time of the auction and that no notification of this extension is currently given to bidders. All bidders are encouraged to watch the catalog for bidding purposes because of the system’s extend-all feature.

Bidding and Outbid Notifications:

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity is verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.

Our online auctions move quickly therefore bid quickly especially at the close of bidding time. The bidding software will notify bidders by email or text when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/speed, please place a max bid or constantly monitor the auction at close of bidding. Email notifications are sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.
Sometimes email or text notifications can be delayed. If you win you are notified by email.

ORDER OF AUCTION: Offering - The real estate is offered as a whole by the dollar.

BUYER'S PREMIUM: A 10 % Buyer's Premium is added to your final bid to equal the contract price.

Buyer's Premium example:
Bid price - $100,000.00
+ 10% Buyer's Premium - $ 10,000.00
= Total Contract price - $110,000.00

Terms: At the close of the auction, successful bidders will execute a real estate contract Successful bidders will deposit 10% of the contract price per property in the form of cashier's check or wire transfer to Taylor Auction & Realty, Inc. The entirety of the remaining balance is due within 30 days for closing. This online auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate.

AUCTION CONTRACTS: After the auction closes, we will call the successful bidder and arrange a time for immediate contract execution. If needed we can e-mail contracts to the successful bidder, who must execute and fax or email back to Taylor Auction & Realty, Inc. within 24 hours of the end of the auction and wire transfer the 10% escrow deposit. Purchaser is responsible for all wire transfer fees. You will close on the property on which you are the successful bidder in the final manner in which you bid at the auction.

AUCTION BID DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction are considered in default. In the event a winning bidder fails to submit the signed Contract for the Sale and Purchaser of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder is charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. 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.

LIQUIDATED DAMAGES:
If the buyer does not close the transaction within the stated time, the buyer forfeits his escrow deposit. No extension will be granted. If such action occurs, Taylor Auction & Realty, Inc. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.

SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract today.

CLOSING: Time is of the essence, the contract shall be closed as soon as possible within the 30 day period. The Seller will convey clear title to the property and is responsible for only deed preparation. All other closing costs are the responsibility of purchaser.

CLOSING LOCATION/AGENT:

Thomas J. Suszek
Holcomb Dunbar
P.O. Drawer 707
400 Enterprise Drive
Oxford, MS 38655-0707

Ph. 1 662 234 8775
Fax 1 662 238 7552
Direct 1 662 238 7518

TAXES: Prior real estate taxes paid by Seller; 2019 taxes to be prorated at closing.
City and County Taxes are approximately $2,764.87

CLOSING TIME: Within 30 days and upon approval.

POSSESSION: Purchaser shall receive possession of the property at closing.

ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.

Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT: Taylor Auction & Realty, Inc. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not acting as a buyer's agent. Please sign and return the “Working with a Real Estate Broker” before you bid acknowledging your understanding of agency. TAR reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in the Contract to Purchase Real Estate.

BIDDER BROKER PARTICIPATION: A Broker Participation Form with complete instructions is available at www.taylorauction.com. If you are utilizing a broker for bidding assistance the Bidder Broker Participation Form should be completed by you and your broker , notarized and sent to our office 24 hours before the auction begins.

RESTRICTIONS: Subject only to local and State of Mississippi laws, ordinances and regulations. Property is selling to all easements of record. The seller is placing no restrictions on the property. The seller does warrant that they have good merchantable title to the real estate and that they will convey the same with a special warranty deed, free from all encumbrances, liens or judgments at the time of closing.

DISCLAIMER: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Bidders must conduct and rely solely upon their own investigations and inspection in regard to the condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction and Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold or purchased or the physical location of the Auction. The successful purchaser agrees to pay any and all reasonable attorney fees and costs incurred by the Auction Company, the seller and / or their servants, agents or employees in the commencement or defense of any actions hereunder as well as in the collection of any obligations hereunder. The purchaser agrees that a fee of 2% per month be added to the balance of any unpaid balance due the Auction Company and any other costs or losses incurred by the purchasers’ failure to adhere to these terms.

HOLD HARMLESS: Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.

Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction. Disclaimer of warranties: There are no understandings, agreements, representations or warranties, express or implied not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose.

Bidder Responsibilities: Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction for absentee bidders or at the direction of interested bidders.

Guaranty Agreement in regard to bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Taylor Auction & Realty, Inc. and completion of the transaction.

TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Taylor Auction & Realty, Inc. is providing online bidding 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 Taylor Auction & Realty, Inc. or anyone else if the internet service fails to work correctly. Taylor Auction & Realty, Inc. will not be responsible for any missed bids from any source.

Time Increase or Decrease: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding or increase of decrease the extended time amount at the end of the auction.

Refresh Bidding: Refresh your screen constantly during the closing minutes of the bidding, or Enable the Auto Refresh feature.

By bidding on any item, the bidder shows acceptance of the terms of the auction.

For information in regard to the auction process call us at 662.226.2080 or email benny@taylorauction.com or ruthie@taylorauction.com

You may email, fax or personally deliver the required documents. Fax: 1.662.227.1653

Thank you for your interest in this auction.

Reasonable Accommodation: Taylor Auction & Realty, Inc. as an employer and professional service organization which has no intention to discriminate on the basis of disability or other legally prohibited basis. We are an affirmative action, equal opportunity employer and service provider. Our decisions are made without regard to race, color, religion, sex, disability, sexual orientation, gender identity, national origin, veteran status, or genetic information. Accommodations are made in regard to hiring employees or assisting clients or customers in regard to our services unless the accommodation will impose an undue hardship.
Requests for reasonable accommodations should be directed to Ruthie Taylor @ Ruthie@taylorauction.com

Benny Taylor CAI AARE CAGA
Taylor Auction & Realty, Inc.


INFORMATION IS SUBJECT TO CHANGE
ANNOUNCEMENTS SENT PRIOR TO AUCTION OR UPDATED IN TERMS WILL TAKE PRECEDENCE

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