Acknowledgment of Terms and Conditions
The following is a summary of the Terms and Conditions for all online auctions for real estate thru USA Discount Properties.
The undersigned Bidder agrees to abide by the Terms and Conditions of the online auction and will execute the real estate assignment agreement. If you have not read and reviewed the Terms and Conditions, DO NOT BID. In connection with the Terms and Conditions, and without limiting the same, Bidder understands the following:
- By placing the acceptable high bid.. you are contractually obligated to buy the real estate at a price stated as your bid. Closing costs and fees are payable at closing.
- You will be required to enter into a purchase agreement and tender an earnest money deposit of $2,500.00 by electronic transfer after the end of the auction. Failure to execute the assignment agreement and tender earnest money deposit will be in default
- You are responsible for conducting your own due diligence on the property before bidding.
- The real estate sells in AS IS condition. The seller is not making any repairs or giving any concessions.
- The sale is not contingent upon a satisfactory inspection.
- The sale is not contingent upon you obtaining financing. You assume responsibility for the appraisal gap if any.
- Closing is to occur on or before 15 days of completion of the winning bid.
- You are responsible for paying the seller’s closing costs.
- You acknowledge receipt of a copy of the real estate purchase agreement for this auction.
By executing this document, You acknowledge receipt of the Terms and Conditions requiring you to purchase the property. Additionally, should you fail to act in accordance with the Terms and Conditions, the seller and USA Discount Properties may commence proceedings to recover actual damages, including a reasonable attorney’s fee in enforcing the same.