Terms & Conditions:
Deposit: To register for this real estate auction, the buyer must agree to deliver a nonrefundable deposit of $5,000.00 to our office (16513 Cornerstone Dr; Belton, MO 64012) or via wire transfer, and execute a purchase agreement the next business day following the conclusion of the auction. The deposit must be in the form of a cashier's check, personal check with a bank letter of guarantee, wire transfer, or cash.
• Be it understood that Mayo Auction & Realty advises all potential buyers to seek legal counsel if for any reason they do not understand any part of the auction’s TERMS and CONDITIONS. The buyer confirms that by placing their signatures below, they have inspected the subject property to their satisfaction for their intended uses, and further understands that he/she agrees to all of the terms and conditions for this auction.
Agency Disclosure:
• It is clearly understood and agreed by the parties hereto, Mayo Auction & Realty is the selling agent, and all parties employed by or associated with Mayo Auction & Realty represent the Seller in this transaction. Further, the Buyer confirms that verbal disclosure of representation was provided to them prior to signing this agreement.
THIS IS AN INTERNET ONLY AUCTION - If you prefer to turn in a bid in person, please call the office at 816-361-2600 to make arrangements.
Buyers Premium: A 10% buyer's premium will be added to the final bid. If you bid $10,000.00 the total sale price will be $11,000.00.
Possession: Closing will take place no more than 30 days from the day of the auction. The seller at closing will convey a good and marketable title. Buyer & Seller will be responsible for customary closing costs issued by the title company.
Easements: The sale of this property is subject to any and all easements of record.
Real Estate Taxes: Real Estate taxes shall be prorated to the date of possession.
Purchase Agreement: The successful bidder shall execute a purchase agreement the following business day after being declared the winning bidder by the auction company. Please Note: The purchase agreement will offer no contingencies, including but not limited to financing.
Terms: The property is being sold “AS IS, WHERE IS” without warranty or guarantee of any kind. Each potential buyer is encouraged to perform his/her own independent inspections, investigations, inquiries, and due diligence concerning the described property prior to bidding.
Agency Disclosure: Mayo Auction & Realty is the selling agent and all parties employed by or associated with Mayo Auction & Realty represent the Seller in this transaction.
Financing: Terms for this auction are cash. The seller is offering no other terms or contingencies. Therefore the buyer may NOT purchase this real estate subject to loan approval.
Broker Participation: To qualify for a three percent (3%) Buyers Agent Commission, all licensed real estate agents must register their client prior to the auction by submitting a broker participation form.
Backup Bids: In the rare event that the winning bidder is unable to close on this transaction, we do accept backup bids. If you are not the winning bidder and would like to make a backup bid. Please call our office for the necessary paperwork.
Dynamic Closing: The closing time of a property is automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of the auction closing time.
Warranty and Condition of Items Sold: All items are sold 'AS IS, WHERE IS, with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the
condition of the property and bid accordingly. Descriptions are believed to be accurate but not guaranteed. If you are not certain of the condition of the property, please bid accordingly.
Catalog Discrepancies: You are bidding on the described item, not the photograph, occasionally the wrong photo may be displayed, always read the item description.
The auctioneer reserves the right to add or remove items from the auction; split or combine lots; add minimum bids or reserve prices; cancel, suspend, extend, or reschedule an individual item or auction event. The auctioneer reserves the right to make changes to the auction closing times or inspection or removal times. All bids are subject to Bankruptcy Court approval and acceptance by the Chapter 7 trustee.
In addition to completing this form, and in order to place your bid, you will need to create an account and register online for this auction. If you already have an account set up, you can log in and register for this auction to then be approved and place your bid. Once you have completed both the form and the online registration, you will receive an email from our office letting you know that you are approved to bid and can place your bid at any time.
