ONLINE ONLY
March 23rd at 8am - March 30th at 3pm
INSPECTION
At Buyers Leisure and Liability
CLICK HERE FOR PROPERTY INFORMATION, PICTURES AND MAPS
PROPERTY DESCRIPTION
| Lot Number | Title | Description |
| 1 | Vacant Lot Located at 622 Washington Street in Laurinburg, NC | Parcel 01004412035 College Park Lot 35, Block B .088+/- Acre |
| 2 | Vacant Lot Located on McDougald Ave in Laurinburg, NC | Parcel 01007106010 Parkside Lot 10, Block 1, Sec 1 |
| 3 | Vacant Lot at 602 Jackson St. in Laurinburg, NC | Parcel 01007502047 Roper Acres Lot 47-48 .344+/- Acre |
| 4 | 9.89+/- Acres on Hasty Farm Woods Rd in Laurinburg, NC | Parcel 01023905013 Hasty Woods Farm Parcel 4, Blk 3 |
| 5 | Vacant Lot off Old Maxton Rd in Maxton, NC | Parcel 01024802016 Malloy Est Division Lot 7A .84+/- Acre |
| 6 | Vacant Lot on US Hwy 74 Business in Laurinburg, NC | Parcel 01025801006 .247+/- Acre |
| 7 | Vacant Lot on Harrison Rd. in Laurinburg, NC | Parcel 02030001032 Deeded Acres .652+/- |
| 8 | Vacant Lot on Queen Rd. in Laurinburg, NC | Parcel 02030301044 Lots of Laurel Hill Township Lot 2, Blk A .427+/- Acre |
| 9 | Vacant Lot on Harrison Rd. in Laurinburg, NC | Parcel 02031501054 .427+/- Acres |
| 10 | Vacant Lot at 24420 McGill St in Wagram, NC | Parcel 03040106002 .459+/- Acre |
| 11 | Vacant Lot on McNeil St. in Wagram, NC | Parcel 03040107005 .402+/- Acre |
| 12 | Vacant Lot Located at 21780 Brown Rd in Wagram, NC | Parcel 03040113003 Deed Acres .057+/-; GIS Acre .101+/- |
| 13 | Vacant Lot 21780 Center St. in Wagram, NC | Parcel 03040119005 Map of New Town, Wagram Lot 5 .252+/- Acre |
| 14 | Vacant Lot Located on Crandall and Patricia Streets in Laurinburg, NC | Parcel 03041602014 Mclaughlin Pines Lot 14 .406+/- Acre |
| 15 | Vacant Lot Located at 21260 McLaughlin Rd in Laurinburg, NC | Parcel 03041702008 Spring Hill Lot 8, Sec 1, Part3 1.148+/- Acre |
| 16 | Vacant Lot Located at 21400 Bridal Path Dr. in Laurinburg, NC | Parcel 03041704014 Carriage Farm Lot 14, Sec 1 .346+/- Acre |
| 17 | Vacant Lot Located at 21361 Surrey Dr in Laurinburg, NC | Parcel 03041704049 Carriage Farm Lot 17, Sec 2 .35+/- Acre |
| 18 | Vacant Lot Located at 21341 Surrey Dr. in Laurinburg, NC | Parcel 03041704050 Carriage Farm Lot 18, Sec 2 .35+/- Acre |
| 19 | 3.5+/- Acres Located at 21140 Stubbs Rd. in Laurinburg, NC | Parcel 03041801067 |
| 20 | Vacant Lot Located at 27940 Terry Drive in Marston, NC | Parcel 03042601155 1+/- Acre |
| 21 | ||
| 22 | Deercroft Golf Course Lot on Rabbit Run Ct. in Wagram, NC | Parcel 030433A16007 Deercroft Lot 7, Blk 16, Sec 20 .538+/- Acre |
| 23 | 3.98+/- Acres on Old Wire Rd in Laurel Hill, NC | Parcel 04016401084 |
| 24 | Vacant Lot on Monterey Street in Gibson, NC | Parcel 04016401088 .528+/- Acre |
| 25 | Vacant Lot off Tabernacle Rd. in Laurel Hill, NC | Parcel 04016701062 Lawrence Leggett Est. .69+/- Acre |
| 26 | Vacant Lot Located at 5860 Livingston Street in Gibson, NC | Parcel 04017004031 ZV Pate (Gibson Lots) Lot 3 .1001+/- Acre |
| 27 | Vacant Lot Located at 4100 Cross Street in Gibson, NC | Parcel 04017106002 .262+/- Acre |
| 28 | Vacant Lot Located at 13840 Quick St. in Gibson, NC | Parcel 04017112002 McLaurin Gibson Land % of Lots 10-11, Blk C |
| 29 | Vacant Lot on Quick Street in Gibson, NC | Parcel 04017112004 McLaurin Gibson Land Lots 4-7 |
| 30 | Vacant Lot Located at 13661 Francis St. in Gibson, nC | Parcel 04017112005 McLaurin Gibson Land Tract 3, Block C .344+/- Acre |
| 31 | Vacant Lot Located at 13420 Railroad St in Gibson, NC | Parcel 04017119004 .69+/- Acre |
| 32 | Vacant Lot Located on Main St. in Gibson, NC | Parcel 04017202016 .37+/- Acre |
| 33 | Vacant Lot on Alton Cir. In Laurel Hill, NC | Parcel 04017303044 Johnson Acres Lot 44 .694+/- Acre |
| 34 | Vacant Lot on Alton Cir. In Laurel Hill, NC | Parcel 04017303045 Johnson Acres Lot 45 .478+/- Acre |
| 35 | Vacant Lot on McRae St in Laurel Hill, NC | Parcel 04017305018 .456+/- Acre |
| 36 | Vacant Lot Located at 10729 Eagle Crest Rd in Laurel Hill, NC | Parcel 04017308020 A W Bunch's Land Lot 16 .434+/- Acre |
| 37 | Vacant Lot on Malloy Ave in Laurel Hill, NC | Parcel 04018202003 Map of Laurel Hill Lot 3, Blk 2 434+/- Acres |
| 38 | Vacant Lot Located at 9321 Carver School Rd in Laurel Hill, NC | Parcel 04018217016 New Town % of Lots 16-18 of BLK H .196+/- Acre |
| 39 | Vacant Lot Located Old Wire Rd in Laurel Hill, NC | Parcel 04018611006 Pate Mathews Land Lot 6, Blk C .327+/- Acre |
| 40 | Vacant Lot Located at 10280 Adams Ave in Laurinburg, NC | Parcel 04019602044 Sandhurst Lot 44, Sec 1 .417+/- Acre |
| 41 | Vacant Lot off Leisure Rd in Laurinburg, NC | Parcel 040196A03018 Leisure Living Est. % of Lot 18 .235+/- Acres |
| 42 | Vacant Lot on N. Caledonia Rd in Laurinburg, NC | Parcel 01005201011 .308+/- Acre |
| 43 | Vacant Lot Located on College Dr in Laurinburg, NC | Parcel 01006101003 Southmoor Lot 3, Sec 3 .413+/- Acre |
| 44 | Vacant lot Located on Gabriel Ave in Laurinburg, NC | Parcel 01007805012 Lincoln Heights Lot 12, Blk 17 |
| 45 | Vacant Lot located on Blues Farm Rd in Laurinburg, NC | Parcel 01021904003 Lakewood Hills Lot 4, Blk D .605+/- Acre |
| 46 | Vacant Lot on Blues Farm Rd in Laurinburg, NC | Parcel 01021905002 Lakewood Hills Lot 2, Blk E .522+/- Acre |
AUCTION MANAGER
Anthony Bristow
[email protected]
All items in this auction are selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the items being sold. Descriptions of the items are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspections prior to the auction. All due diligence periods end the date the auction is scheduled to end and prior to the end of the auction. It is possible that the property being sold is subject to local, state and federal regulatory authorities and it is the Buyer’s responsibility to ascertain if they are subject to regulation and permitting. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the items before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property.
Online Only Real Estate Terms
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:51, the close time will automatically extend to 6:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of Iron Horse Auction Company, Inc. or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the Buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, the winning Bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
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 Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:51, the close time will automatically extend to 6:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of Iron Horse Auction Company, Inc. or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the Buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, the winning Bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
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 Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.