Terms and Conditions:

1. Ten Percent (10%) nonrefundable down payment payable to the Trustee is required day of auction with balance due at closing by certified or cashier’s check. No financing or other contingencies are permitted. The successful bidder (“Purchaser”) forty-five (45) days to close. In addition to the sales price, the Purchaser will be responsible for a ten percent (10%) Buyer’s Premium which will be added to the final bid amount and due at time of sale payable to Joe R. Pyle Complete Auction and Realty Services to determine final aggregate contract price.

2. The sale of the Property will be made subject to all matters having priority over the deed of trust referred to herein including but not limited to any and all assessments and taxes against said property, all prior liens, encumbrances, lease, restrictions, covenants, conditions, rights of way and easements of any nature whatsoever. Further subject to the redemption rights of the Internal Services as set forth in 26 U.S.C § 7425.

3. The Property will be sold in “AS IS” condition. No representations and warranties of any kind or character are made including, but not limited to, the condition of the Property or the title to the Property to be conveyed.

While the Auctioneer, at his discretion, may disclose what information he has been able to obtain regarding the Property (i.e., rooms, sq. footage, etc.), such unverified information should not be construed as giving rise to any representation or warranty.

Trustee cannot and will not make any representation and warranties concerning the Property as it is the responsibility of each Purchaser to perform such due diligence as the Purchaser wishes to undertake regarding the Property prior to the Sale.

4. Obligation of the Purchaser. The Purchaser shall:

• At the conclusion of the Sale, once the bid has been approved by the Lender, the Trustee will execute a Memorandum of Sale (“Contract”) reflecting the amount of the bid, the Auctioneer’s commission and the terms and conditions of the Sale as described herein.
• Tender the purchase price in accordance with the terms described herein.
• Be responsible for recording the trustee’s deed upon receipt and for paying the transfer taxes imposed by Code § 11-22-2.
• Pay any outstanding real estate taxes owed.
• Be responsible for removing any existing tenant or person occupying the Property or any personal property left on the Property.

5. Additional Rights.

• The Trustee reserves the right to adjourn the sale, for a time, or from time to time, without further notice by announcement at the time and place of the sale described above.

• The beneficiary of the Deed of Trust and holder of the note secured by the Property (“Lender”) reserves the right to submit a bid for the property at the sale, which bid may be in the form of a credit bid.

• Lender reserves the right to accept or reject the final bid.

6. Memorandum (Contract) of Sale.

Upon conclusion of the sale, a Memorandum of Sale/Contract will be executed by the Trustee and Purchaser reflecting the sale of the Property, the purchase price, and the terms of the sale described herein.

7. Purchaser’s Default.

In the event the Purchaser breaches the Contract the Trustee at his sole discretion shall have the following rights and remedies:

(1) The Trustee may re-advertise and proceed to resell the Property pursuant to the Deed of Trust; or
(2) The Trustee may convey the Property to the next highest bidder if such bidder will honor his bid; or
(3) The Trustee may file suit to enforce specific performance.

8. Trustee’s Inability to Perform Contract.

If the sale is set aside for any reason, the Purchaser at the sale shall be entitled only to a return of the amounts paid. Purchaser shall have no further recourse against the Lender, the Trustee or their attorneys or agents.

9. Miscellaneous.

Only the Real Property described in the Deed of Trust is being sold.
With Questions, Please Contact Blake Shamblin at (304)476-7118

JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE
Joe Pyle WV212
Alan Heldreth WV2224
5546 Benedum Drive, Shinnston, WV
(888) 875-1599
www.joerpyleauctions.com