TERMS AND CONDITIONS

Online Real Estate Auction


Please review this document carefully. This document creates certain legally binding contractual obligations.

In order to register and receive access to the interactive online bidding platform, a Bidder must accept and acknowledge these Terms and Conditions.

1. Any bid placed shall constitute a legally binding and enforceable offer to purchase the subject real estate. All bids therefore constitute an irrevocable offer to purchase and shall remain valid and enforceable until the Seller declares the property "Sold" and the auction has concluded.

2. Auctioneer reserves the right to reject or cancel any bid placed. Auctioneer agrees to timely advise any bidder of a rejected bid.

3. The Winning Bidder covenants and agrees to consummate the purchase of the subject real estate at the price of the winning bid, and upon the terms and conditions hereinafter provided.

4. Within 48 hours of the close of the auction event, the Winning Bidder for the property will be required to execute, as Buyer ("Buyer"), the Real Estate Purchase Agreement and applicable Addendums, if any, ("Agreement") with no exceptions, and tender the earnest money deposit.

5. No modifications to the form of the Real Estate Purchase Agreement will be accepted. The general terms of the Real Estate Purchase Agreement are available for review at the request of any bidder, and are available for download through Auctioneer's website.

6. Failure to execute the Real Estate Purchase Agreement shall be considered an act of default by the Winning Bidder, and the Seller shall be entitled to pursue any and all legal and equitable remedies against the Winning Bidder which are available to Seller pursuant to the laws of the jurisdiction of the State of Illinois. In the event that Seller and/or Auctioneer file suit against Winning Bidder, Seller and/or Auctioneer shall be entitled to recover all reasonable attorneys' fees, costs and expenses incurred.

7. Failure to execute the Real Estate Purchase Agreement in the form presented or to tender the earnest money deposit within 48 hours from the close of the auction event shall result in a $1,000 Administrative Fee as liquidated damages. The parties acknowledge that the amount of damages to Seller and Auctioneer as a result of default of the Winning Bidder is incapable of precise calculation, and the Administrative Fee shall constitute liquidated damages incurred as a result of Winning Bidder's default and not a penalty. All Administrative Fees are non-refundable. Back-up bids will be recorded and received. Should the Property not close with the original Winning Bidder (Buyer), the Seller in its sole discretion will have the option to pursue back-up bids.

8. The required earnest money deposit shall be held in an account with the Seller's designated closing agent pursuant to the terms of the Agreement. The Earnest Money Deposit shall be equal to 10 percent (10%) of the Total Purchase Price and is NON-REFUNDABLE.

9. The Closing date ("Closing") for the conveyance of the realty and the consummation of the transaction will be on or before 30 days following the closing of bids unless extended by the mutual agreement of the Seller and the Winning Bidder.

10. The Total Purchase Price will be due and payable by Buyer at Closing with Cashier's Check from an F.D.I.C. insured institution in U.S. Funds (payable to the Seller) or by Wire Transfer of immediate funds, pursuant to instructions from the Settlement Agent.

11. Buyer shall receive credit for the Earnest Money Deposit which shall be released from escrow and applied by the Settlement Agent towards the Total Purchase Price at Closing.

12. Time shall be of the essence as to all of Buyer's obligations.

13. Any Winning Bidder not closing within the contractual time period to close shall forfeit his/her earnest money, in the nature of liquidated damages. Please review the Seller's Sample Real Estate Purchase Agreement to determine closing requirements.

14. It is understood and agreed, when represented, that title to the property shall be insurable after closing and will be conveyed to the Buyer by Special Warranty Deed (the "Deed"). The acceptance of the Deed by Buyer shall constitute and be deemed and considered full compliance by the Seller of all the terms and conditions of the Agreement on the part of the Seller to be performed. It is further expressly agreed that none of the provisions of the Agreement shall survive the delivery and acceptance of the Deed, except insofar as may therein otherwise be expressly and specifically provided.

15. Winning Bidder acknowledges that the Property is subject to all laws, ordinances, codes, rules and regulations of applicable governmental authorities pertaining to the ownership, use and occupancy of the Property including, but not limited to, zoning, land use, building codes, and agrees to take title subject to such matters, and the following permitted exceptions: (i) all covenants, restrictions, easements and agreements of record now on the Real Property; (ii) the state of facts which would be shown by a current survey or inspection of the Real Property; (iii) any matter created by or through Buyer; (iv) any title matters which Buyer has accepted or is deemed to have accepted as set forth in the Agreement; (v) such other items that will not make the Real Property unusable or unmarketable for the purposes for which it is currently used.

16. The Seller, Broker, Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and material. The Seller, Broker, Auctioneer and their representatives, attorneys, agents and sub-agents, make no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and material.

17. The Property is sold in its "AS IS" condition with all faults and limitations and no warranties expressed or implied. All Bidders are encouraged to inspect the Property prior to placing any bid and the Winning Bidder, as Buyer, acknowledges that he/she/it has had a reasonable opportunity to inspect and examine the condition of the Property and make inquiries of applicable governmental authorities pertaining to Buyer's proposed use of the Property prior to the Auction as Buyer has deemed necessary or desirable. All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the Property and records.

18. By registering and bidding, the Buyer acknowledges they understand accept and agree to these Terms and Conditions. The Buyer acknowledges that they have had ample opportunity to read the Sample Real Estate Purchase Agreement and Addendum and the Terms and Conditions of the Auction Sale posted on the website and accept the Real Estate Purchase Agreement without any changes to the pre-printed text.

19. By registering and bidding, the Buyer acknowledges that they have submitted themselves to the personal jurisdiction of the State of Illinois. Buyer acknowledges that any and all disputes shall be governed by Illinois Law, conflicts of laws provisions notwithstanding, and that any and all litigation associated with any purchase and sale hereunder shall be filed in the Fifth Judicial Circuit, Coles County, Charleston, Illinois.

20. Seller and Auctioneer cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means, therefore they cannot guarantee continual, uninterrupted or error free service as the website could be interfered with by means out of their control. Bidder acknowledges that the online auction is conducted electronically and relies on hardware and software that may malfunction without warning.

21. Auctioneer acts solely as an agent for Seller and is not a party to any contract for the consummation of the real estate transaction.

22. The Registered Bidder acknowledges receipt and copy of these Terms and Conditions, and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby.

TERMS AND CONDITIONS

Online Personal Property Auction

Please review this document carefully. This document creates certain legally binding contractual obligations.

In order to register and receive access to the interactive online bidding platform, a Bidder must accept and acknowledge these Terms and Conditions.

1. Any bid placed shall constitute a legally binding and enforceable offer to purchase the subject personal property. All bids therefore constitute an irrevocable offer to purchase and shall remain valid and enforceable until the Seller declares the property "Sold" and the auction has concluded.

2. Auctioneer reserves the right to reject any bid placed. Auctioneer agrees to timely advise any bidder of a rejected bid.

3. The Winning Bidder covenants and agrees to purchase the subject personal property at the price of the winning bid, and upon the terms and conditions hereinafter provided.

4. Within 24 hours of the close of the auction event, the Winning Bidder for the property shall receive an e-mail from Bauer Auction Service, LLC which will detail a date, a time, and a location for the retrieval of the subject personal property, subject to further specific arrangements of the parties, including options for shipping and electronic payments.

5. At said appointed date, time, and location, the Winning Bidder shall pay the full purchase price for the property by means of cash, certified check, or credit card.

6. You are solely responsible for the safe and timely pick-up and removal of any items you may win at auction. If you are unable to safely pick up and remove your items during the removal times that have been scheduled for this sale, PLEASE DO NOT BID. Bauer Auction Service has in-house shipping department but will not automatically ship to out of state bidders. Bauer Auction Service requires that bidders needing items shipped respond to the confirmation email that is sent out at the final close of the auction. When payment is made by credit card, Bauer Auction Service ships to the billing address on the credit card.
(a) The Auctioneer reserves the right to use video surveillance onsite during any auction-related event and you hereby consent to such surveillance on behalf of yourself and your agents. When picking up your items, you and/or your agent hereby grant to Auctioneer the right to record your and/or your agent's image, photograph, likeness, and voice by any technology or means.
(b) The Auctioneer is not obligated to issue you a refund if you are unable to pick up and safely remove your items during the published pick up times.
(c) Buyer's requesting shipping assume all responsibility in the event that an insurance claim must be filed due to loss or damage. Bauer Auction Service, LLC. will provide whatever information we have available in order for the recipient to file said claim.

7. Failure to appear at the appointed date, time, and location by the Winning Bidder, shall be considered an act of default by the Winning Bidder, and the Seller shall be entitled to pursue any and all legal and equitable remedies against the Winning Bidder which are available to Seller pursuant to the laws of the jurisdiction of the State of Illinois. In the event that Seller and/or Auctioneer file suit against Winning Bidder, Seller and/or Auctioneer shall be entitled to recover all reasonable attorneys' fees, costs and expenses incurred.

8. Buyer understands that lack of communication/ not appearing at pick up may result in the invoice being charge to the registered credit card plus any fees associated with resources required to transport/store your items for alternate pick up.

9. By registering and bidding, the Buyer acknowledges that they have submitted themselves to the personal jurisdiction of the State of Illinois. Buyer acknowledges that any and all disputes shall be governed by Illinois Law, conflicts of laws provisions notwithstanding, and that any and all litigation associated with any purchase and sale hereunder shall be filed in the Fifth Judicial Circuit, Coles County, Charleston, Illinois.

10. Time shall be of the essence as to all of Buyer's obligations.

11. The Seller, Broker, Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and material. The Seller, Broker, Auctioneer and their representatives, attorneys, agents and sub-agents, make no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and material.

12. You acknowledge that if it is possible Bauer Auction Service will provide you with the opportunity to inspect the items being offered for online auction. If a preview is available, Bauer Auction Service strongly encourages you to attend the scheduled inspection for all our online auctions, which will take place on a specific date, time and location. If you choose not to attend the scheduled inspection or are in doubt about the condition, completeness, or suitability of a given item, please bid accordingly. You are given an opportunity to inspect the items being offered for sale in this auction, you acknowledge and agree that, by bidding on a given item, you have had a full and fair opportunity to inspect such item, and that you are relying solely on, or that you have waived, such inspection and investigation (a) in determining whether to bid, (b) in determining the amount of a bid, and (c) in bidding.
In situations where there is no ability to preview/inspect items you may request additional photos and details.

13. The Property is sold in its "AS IS" condition with all faults and limitations and no warranties expressed or implied, and Seller and Auctioneer specifically disclaim any and all implied warranties, including the warranty of fitness for a particular purpose. All Bidders are encouraged to inspect the Property prior to placing any bid and the Winning Bidder, as Buyer, acknowledges that he/she/it has had a reasonable opportunity to inspect and examine the condition of the Property and make inquiries of knowledge persons. All information was derived from sources believed to be correct, but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the Property and records.

14. By registering and bidding, the Buyer acknowledges they understand, accept and agree to these Terms and Conditions.

15. Whether you are a new or returning bidder, you agree that if any of the information associated with your bidder account - including contact information and credit card information - changes at any time prior to, during, or after this sale, you will notify the Auctioneer of the change.

16. We want everyone to get a good deal and enjoy the online auction experience. However, when you bid on the wrong item or decide an item is not suited for your intended use, neither our sellers nor our auction company will assume the cost of your mistakes. You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in this auction will not be grounds for a refusal to pay amounts due, nor for any claim against the Auctioneer.

17. Seller and Auctioneer cannot, and will not, be held responsible for any interruption in service, errors, and/or omissions, caused by any means, therefore they cannot guarantee continual, uninterrupted or error free service as the website could be interfered with by means out of their control. Bidder acknowledges that the online auction is conducted electronically and relies on hardware and software that may malfunction without warning.

18. You should refresh your browser often to view the most up-to-date bid information, and should carefully review every bid you choose to make before submitting that bid. Bauer Auction Service will not automatically assume that any bid - even a bid that increases your own, lower bid - was made in error. Many bidders routinely increase their own bids to price an item out of the reach of other bidders. You understand and agree that you will be held responsible for having made all bids that are made using your account, even when such bids are made in error. If you mistakenly increase your own bid at any time during the auction, or make some other bidding error (e.g. placing your bidder number in the price field), you must immediately contact the Auctioneer.

19. All aspects of this auction are subject to change without notice. Bauer Auction Service reserves the right to - at any time and in the Auctioneer's sole and absolute discretion - (a) add or remove items from the auction, (b) split or combine lots, (c) add minimum bids or reserve prices, (d) cancel, suspend, extend, or reschedule the sale of an individual item, lot, auction, and/or auction event, (e) make changes to the auction's closing, inspection, or removal times, (f) reopen the bidding in its sole and absolute discretion, or (g) take any other action the Auctioneer deems necessary to effect the fair conduct of this sale or protection of buyers', sellers', or other parties' interests. In the event a seller withdraws an item from this auction prior to the close of the auction, the Auctioneer may leave the item on the catalog and buy the item back on behalf of the seller to establish the Auctioneer's earned commission and the buyer's premium due to the Auctioneer from the seller.

20. Bauer Auction Service online auctions are designed to mimic traditional "live" actions. For this reason, this auction will have a staggered, dynamic closing.
(a) Staggered Closing: This online auction will generally begin to close at a rate of six items per minute, every minute. Items' closing times will be displayed on the website, but may be extended past their scheduled closing time, as a result of the dynamic closing feature. (b) Dynamic Closing: The closing time of an item is generally extended an additional three minutes whenever a bid is placed within the three minutes leading up to an item's scheduled closing time.

21. At the conclusion of this auction, the credit card associated with your account will not be automatically charged. We offer a cash/check payment at scheduled pick up. The credit card information associated with your account will be held until auction pick up has completed. If you do not attend pick up you card will be charged at that time plus a transport fee, to be assessed by Bauer Auction Service.
(a) Suspension: You understand and agree that if, at the end of this auction if you do not appear at pick up and Bauer Auction Service is twice unable to charge your credit card for the entire amount of your purchases, Bauer Auction Service may suspend your online bidding privileges indefinitely. Bauer Auction Service may reinstate suspended accounts in the Auctioneer's sole and absolute discretion.
(b) Chargebacks Prohibited: You agree that you will accept all charges placed on the credit card associated with your account, and you agree that you will not charge back any amount that the Auctioneer charges to your credit card.

22. Buyer's Premium: See auction terms for specific buyer premium information.

23. You understand and agree that any violation of these Terms and Conditions - and/or any unsafe or illegal activity during any auction-related event - may result in Bauer Auction Service suspending your online bidding privileges indefinitely. Any Bidder's attempt to re-register after having been suspended - whether directly by creating a new account or indirectly by using or directing the use of a third party's account - will constitute a breach of these Terms and Conditions, and may expose the Bidder to civil and criminal liability for fraud. The Auctioneer further reserves the right to refund the Bidder and eject any Bidder or agent thereof from any premises if the Bidder becomes disruptive. In the event such an ejection, it will be within the Auctioneer's discretion to refund any amounts paid by the ejected Bidder. Nothing in this paragraph will limit the Auctioneer's right to any other remedies at law or in equity.

24. The Registered Bidder acknowledges receipt and copy of these Terms and Conditions, and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby.

Hello and welcome to the Monday, May 30th Closing Out HVAC Online Only Auction! Bidding Begins Closing: Monday, May 30th - - 10:00AM Closing Out HVAC Online Only Auction Inventory - - Tools - - Truck - - Office - - Shelving Commercial/Industrial Real Estate at 2508 North Shore, Urbana, IL 61801 24,565 sq. ft. Lot - - Fenced - - 4,3226 sq. ft. Office/Warehouse Building - - IN-2 Zoning - - 2 Baths - - Kitchenette - - Overhead Door - - Heated & Air 2013 Ford F350 Flatbed w/ Lift Gate & Stake Pocket Bed, 14,000 One Owner Miles - - Sky Jack Man Lift - - Shop A-Frame - - Portable Shed - - Welders - - Lathe - - Pipe Cutting Tools - - Tool Cage - - Air Compressor - - New Window AC Unit - - Work Benches - - Shelving - - Tool Boxes - - Suspended Heater - - Copper, Brass, Black PVC Pipe & Fittings - - Specialty Tools - - Refrigerant inc/ R12 - - Refrigeration Test Equipment - - 18' x 24' Commercial Tarps w/ D Rings - - Aluminum Walk Board - - Job Box - - 64" Sheet Metal Brake - - Plasma Cutter - - Drill Press - - Parts Washer - - Revco Scientific Freezer - - Gas Bottles - - Vacuum Pumps - - Enormous Inventory of Refrigerator HVAC Parts - - Plumbing & Electrical Supplies - - Ladders - - Ladder Racks - - 12 Ton Pipe Bender - - Electric Wire - - Tire Sets - - Office Furniture & Supplies Real Estate Buyer's Premium: 5% Buyers Premium. Balance, Possession, Closing on or within 30 days for the Real Estate. Personal Property Buyer Premium: 15% Payment & Pick Up: Conducted by appointment only on Wednesday, June 1st from 2:00pm - 6:00pm at 2508 North Shore, Urbana, IL 61801. Click on "Schedule Your Pick Up" to reserve your time slot. A cashier will be on site to accept cash, check or credit card payment. Invoices totaling $500.00 must be paid with cash, check or bank transfer Invoices not paid at the end of scheduled pickup will be billed to the credit card on file plus a transport fee, transported to our facility at 2601 Lake Land Blvd, Mattoon, IL 61938. A paid invoice will be emailed to you along with alternate dates and times available for pickup. Invoices that are left at our facility after 7 business days of being brought back will become property of Bauer Auction Service, LLC. unless prior arrangements have been made. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> SHIPPING: THE FASTEST WAY TO GET THESE ITEMS SHIPPED IS TO FOLLOW THE STEPS BELOW! --- After the auction closes, we send confirmation emails to the email address on your bidder registration. --- Be sure to check your spam box or set office@bauerauction.com as an approved sender. --- Respond to that email with permission to charge the card on file and confirmation of your shipping address. --- Invoices totaling $500.00 must be paid with cash, check or bank transfer ---If paying by credit card, items are shipped to billing address on credit card. Payment can be made by card registered on file only. ---Buyer's requesting shipping assume all responsibility in the event that an insurance claim must be filed due to loss or damage. Bauer Auction Service, LLC. will provide whatever information we have available in order for the recipient to file said claim.>>>NOTHING SHIPS WITHOUT CONFIRMATION OF YOUR SHIPPING ADDRESS VIA EMAIL<<< See shipping tab for more information