|Terms: ||ONLINE TERMS AND CONDITIONS|
TERMS AND CONDITIONS: As a condition of registering and bidding, bidders agree to all written, verbal and, posted terms and conditions of the auction. Bidders agree to seek their own legal advice. ByceAUCTION, LTD represents only the SELLER in this transaction. The property is only available for inspection if an inspection time is listed and should be considered OCCUPIED if NO inspection is listed. Buyers are warned; DO NOT TRESPASS. Note: properties may be under aerial and electronic surveillance.
1. NON CONTINGENT SALE: This purchase is NOT contingent upon your ability to obtain financing nor ANY OTHER contingency. Buyers shall have available funds to execute sale within 30 days of court confirmation. BUYER ACCEPTS THE PREMISES IN "AS-IS, WHERE IS", CONDITION WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND BY SELLER INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS; STRUCTURAL DEFECTS, CONSTRUCTION; FITNESS FOR HABITATION OR ANY OTHER CONDITION. Buyer accepts the condition that the property is in upon closing.
2. All descriptions and information herein are based on public information or third party sources deemed to be correct. Liens joined in the foreclosure or filed after the commencement of the foreclosure are released as to the property as a matter of law.
3. AUTHORIZED LICENSED AUCTIONEER ByceAUCTION, LTD DBA ByceREALTY and its associates are acting as fully authorized court appointed Private Selling Officers pursuant to a Court Order. State Agency documents will not be used; successful bidder shall sign a court ordered information sheet.
4. DEPOSITS: High bidder shall be responsible for wiring a deposit to a legally licensed escrow account by 4 PM Eastern Standard Time the following business day, after auction close. The buyer paid deposit shall be based on the opening bid of the property as follows:
OPENING BID VALUE Deposit (In U.S. Dollars)
$0 to $10,000: $2,000
$10,001 to $200,000: $5,000
Over $200,001: $10,000
5. Should buyer fail to comply with the deposit terms, they may be in contempt of court and the deposit shall be charged to the credit card used for registration. An amount of up to 3.75% of the deposit amount which will be charged by the credit card provider shall be charged to the Buyer should the credit card be charged.
Wiring Instructions: please note that wiring instructions for the remaining amount will be provided prior to closing.
6. BUYERS PREMIUM: A Buyer’s Premium of 10% shall be added to the high bid at the close of bidding. The high bid plus buyer’s premium shall constitute the Total Contract Price paid by the Buyer to the Seller. Generally, the opening bid is established at 2/3 the appraised value of the subject property. Closing: Within Thirty (30) calendar days following the date of Court Confirmation. Buyer shall be required to present the balance of purchase price in wired funds to Title Company as indicated. Buyer shall receive a Private Selling Officers Deed to the Property in recordable form. Closing agent shall be selected by Plaintiff and all closing costs, including any title insurance, shall be paid by the Buyer. All taxes shall be prorated to the date of auction.
7. POSSESSION: Buyer shall be entitled to possession once the deed is recorded.
8. DEFAULT: Note: buyers that default on sale may be held in contempt of court and subject to forfeiture of all or part of their deposit. Bidders are advised to not bid if they cannot perform on the sale. Bidders must be 18 years of age to register and bid at auction.
REAL ESTATE BROKERS: Real estate brokers shall be paid a fee equal to 2% of the high bid amount provided that brokers register their buyers with ByceAUCTION, LTD. prior to (a) any interaction between prospective bidder and ByceAUCTION and (b) the registration by prospective buyer for participation in the online auction and (c) 48 hours prior to auction end. All registrations must be on Broker Registration form available under “bid forms and downloads” on the site: www.byceauction.com --
ADDITIONAL ONLINE AUCTION TERMS AND CONDITIONS REAL ESTATE:
A. . REGISTRATION: Bidders must enter a valid Visa, MasterCard, Discover or American Express card along with required contact information. You will receive a bidder number via email. Upon placing you first bid(s) at a scheduled online auction, the automated system will "pre-authorize" the credit card entered for an amount up to $2 through credit card provider Authorize.net. (THIS IS NOT A CHARGE! WE DO NOT CHARGE ANY CREDIT CARDS FOR ANYTHING UNLESS YOU ARE A WINNING BIDDER!) If the credit card account information entered does not pass this authorization, it will direct you to re-enter your card information and will allow 3 attempts before lock out. It is our policy that that bidders must register with a valid credit card to register and then provide a credit card that passes the authorization described above which will enable the system to permit you to place a bid(s). Please call 330.747.7000 or email email@example.com if your account is locked or you require assistance. If you are unable to meet these registration and authorization requirement you will not be permitted to bid. ONCE YOU ARE REGISTERED, YOU MAY USE YOUR BIDDER NUMBER AND PASSWORD FOR ALL OF OUR ONLINE AUCTIONS. YOUR CARD WILL BE "AUTHORIZED" AS DESCRIBED EACH TIME YOU PLACE YOUR FIRST BID(S) AT AN AUCTION EVENT. THESE AUTHORIZATIONS "EXPIRE" THROUGH THE CREDIT CARD PROVIDER AFTER A PERIOD OF TIME.
B. . BIDDING ERRORS: Please be aware that many bidders routinely increase their own bid to price an item out of reach of other bidders. You should immediately review your bids before submitted. We will not reverse bids that have caused another bidder to be outbid. If you bid on the wrong item we will not reverse your bid. Please make sure and review all bids before submitting. We will not reverse bids after the auction has begun to close, no exceptions.
C . MAXIMUM BIDS: If you increase your "maximum bid" while you are the high bidder, the system will increase your original bid by one increment as the system interprets this as "another bid". To avoid this, wait until you are "out bid" to place a new bid or maximum bid. If you are immediately outbid when you place your bids, then you are likely bidding against a maximum bid and it will be so indicated. MANY of our buyers use maximum bids as they no doubt have seen the convenience and do not risk missing the opportunity by placing only real time bids on items. CLICK ON THE "REFRESH LINK" often to be sure you are seeing current data.
D. GROSS BIDDING ERRORS: If you mistakenly increase your own bid, place your bidder number in the bid field, or make a gross error you must immediately contact our office by email at firstname.lastname@example.org or call 330.747.7000. Communication of the error does not in itself resolve the error. ByceAUCTION, LTD will attempt to address the bidding error.
E. STAGGERED CLOSING: The online auction closes in pre-determined intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction.
F. DYNAMIC CLOSING: The closing time of an asset is automatically extended an additional 3 minutes whenever a bid is placed within the last 3 minutes of the asset's closing time to allow bidders to bid and will continue until bidding ceases.
G. BID NOTIFICATION: If you have been outbid you will be notified by email up to the time that the auction begins to "close". PLEASE CHECK YOUR SPAM FOLDER IF YOU DID NOT RECEIVE OUTBID NOTICES OR YOUR INVOICE! To quickly review your bids and see if you have won you can utilize the 'review bids' feature. Items that you have been outbid on will be clearly marked.
H. WINNING BIDDER NOTIFICATION: You will be contacted by email ONLY (you are responsible for checking your email). If you feel you have won an item and have not received an email you must notify us by email no later than 9 AM the next day. If you do not receive a paid email invoice then you did not win any items at the online auction. NOTE: it takes time to process invoices so plan on up to 1 hour after auction close to receive your invoice.
I. BIDDING NOTIFICATIONS: The system sends out various notifications which may include "outbid" notices These notices are not sent after the auction begins to close. The auction company does not guarantee these automated communications and are for bidders convenience only.
J. AUCTION DESCRIPTION: All vehicles are available for bidders physical inspection(s) at scheduled time(s) and bidders agree to conduct their own physical inspection and are buying the property "as-is, where is". Buyer holds ByceAuction, LLC and their third party vendor harmless in any and all cases and may not rescind offer to purchase for any reason, including but not limited to information they consider erroneous in the inspection report or any other descriptive information given which pertains to the item.
K. WARRANTY & CONDITION OF ITEMS SOLD: All items are sold "AS IS, WHERE IS, with NO WARRANTY expressed or implied. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item please bid accordingly. ByceAUCTION is not responsible for the use or misuse of items, infestation and pathogens, environmental harm or any injury or harm caused by items purchased.
L. BUYER DEFAULT: If a bidder(s) defaults at an auction, the auction company may, at it's option, contact the backup bidder(s) for an offer but has no legal obligation to do so.
M. RESERVE AUCTION: All ByceAUCTION, LTD. "online auctions" are "Reserve" auctions. Therefore the auction company reserves the right to establish or change bidding increments, remove items from the auction, split or combine lots, add minimum bids or reserve prices, cancel, suspend, extend or reschedule an individual item and or auction event. Suspend or cancel the bidding of any buyer at any time. Change, modify, delete or add to descriptions, photos. Change auction closing time, inspection or removal times. Rescind the sale of any or all items regardless of high bid upon auction conclusion. ByceAUCTION, Ltd. permits the registration and bidding of any party as long as they meet the registration requirements and terms and condition including sellers, members, owners, employees and associates of ByceAUCTION, LTD. The auction company is not responsible for technical or communication problems, website outages, browser incompatibility or any connectivity issues. Items for sale by court ordered sale and Bankruptcy are subject to the specific approval of the appointed Trustee and Court.
N. CLAIMS: Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by means of arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association. In the event of arbitration, judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Venue in either case will be Mahoning County, Ohio, USA.
O. In the event of a bidder default and /or credit card chargeback, bidder agrees that ByceAUCTION, LTD. may collect payment for items, including cost associated with items to be relocated, discarded or stored, either by arbitration small claims court or state court at ByceAUCTION, LTD. discretion, and that any judgments awarded may be applied to the bidder personally or corporately.
P. LIABILITY: Auctioneers and Sellers liability shall be limited to the refund of bidders purchase price.
Q. PRIVACY: ByceAUCTION, LTD. will not sell bidders information. Bidders who register consent to be contacted or emailed auction notifications for all ByceAUCTION, LTD. auction events. To be removed from our database, reply with "remove" in the subject line of the email. You do not need to subscribe to our email list if you are a registered bidder. If you wish to re- subscribe, simply enter your email into the "subscribe email field" at our website. NOTE: NEVER GIVE YOUR PASSWORD AND BIDDER NUMBER OUT TO ANYONE. IF YOU FORGET REGISTRATION INFORMATION, CLICK ON THE "REGISTER" TAB AND FOLLOW THE DIRECTIONS FOR A LOST BIDDER NUMBER OR PASSWORD.
R. LIMITATIONS: The above-stated terms and conditions of sale cannot be altered except in writing by the auction company. Terms and conditions may change from auction to auction and are agreed to electronically by bidders upon registration. Terms and conditions are designed as general guidelines and may not cover every possible scenario. ByceAUCTION LTD. is not responsible for the fraudulent or unauthorized use of your bidder number and bidding account. Bidders are responsible for the security of same. If you feel someone may posses this information, it is suggested that you change your password immediately. Buyers agree that they have reviewed and agree to all terms and conditions of the auction. These terms and conditions constitute an enforceable and binding electronic agreement upon their electronic acceptance by the Bidder. Online auctions is conducted via the website entitled www.byceonline.com, Byce Auction, LTD. 755 Wick Ave. Youngstown, OH 44505 -- 330.747.7000 -- email@example.com -
All terms and conditions are © Copyright 2014 by Byce Auction, LTD. and may not be used or duplicated without express written permission.