PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE TERMS and all DOCUMENTATION PROVIDED IN THE FILES TAB IN REGARD TO THE CONTRACT OF THE PURCHASE AND SALE OF REAL ESTATE, DO NOT BID.
All terms are set by the Trustee. ALL PROPERTIES SELLING SUBJECT TO SELLER’S CONFIRMATION.
Auction Conducted for and upon approval of the United States Bankruptcy Court for the Southern District of Mississippi. Purchaser and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is Taylor Auction & Realty, Inc., and is acting as agent for the Seller in this transaction. Taylor Auction & Realty, Inc. is not acting as agent in this transaction for the Purchaser.
This online auction closes on June 21, 2016 at 12:00 noon with a soft close.
This online auction is set for automatic approval. You may register for the auction. However, before you bid, please print from the Files Section the Working with a Real Estate Broker form. After printing and reviewing, please acknowledge by your signature above the Customer line your acknowledgement of non-representation. Please email to [email protected] or fax to 1.662.227.1653. If you need assistance with these forms, please call us at 1.662.226.2080.
Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction to provide accurate description of the property. Real Estate selling AS IS and neither the Trustee nor Taylor Auction & Realty, Inc. makes any warranties or representations, express or implied, as to the habitability or condition of the real property It is encouraged that you inspect the property you wish to purchase PRIOR TO THE ONLINE AUCTION. No sale will be contingent upon a property inspection by the successful bidder after the auction or is the sale contingent upon Buyer obtaining financing. Printed statements or descriptions by staff or seller are provided in good faith and are matters of opinion. Bidders must conduct and rely solely upon their own investigations and inspection in regard to condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
In regard to Inspection, please call 662-226-2080.
Auction End Times:
This feature extends the bidding for all lots on the auction. The auction will be extended for the amount of time supplied in the Auto Extend field which is 5 minutes. This behaves differently than normal Auto Extend. If the End Time is 6:00 PM, Auto Extend is set at 5 minutes, and a bid is placed 4 minutes before the end of the auction, this will only extend the auction to 6:01 PM. The actual end time shown for the auction is the end time for all items and other bidders are always given the amount of time supplied as Auto Extend to consider placing a bid. Please note that this feature changes the actual end time of the auction and that no notification of this extension is currently given to bidders. All bidders are encouraged to watch the catalog for bidding purposes because of the system’s extend-all feature on all lots.
Time Increase or Decrease: Taylor Auction & Realty, Inc. may increase or decrease the extended time amount at any time during the auction until the close of bidding.
Bidding and Outbid Notifications:
In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.
If you a utilizing a broker for bidding assistance the Bidder Broker Participation Form should be completed by you and your broker 24 hours before the auction ends and notarized.
Our on-line auctions move quickly! If you are interested in bidding, bid quickly; especially at the close of bidding time. The bidding software will notify bidders by email or text when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/ speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email or text notifications can be delayed. If you win you will be notified by email.
ORDER OF AUCTION: Offering - The real estate will be offered as a whole by the dollar.
BUYER'S PREMIUM: A 10 % Buyer's Premium will be added to your final bid to equal the contract price.
Buyer's Premium example:
Bid price - $50,000.00
+ 10% Buyer's Premium - $ 5,000.00
= Total Contract price - $ 55,000.00
Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Taylor Auction & Realty, Inc. Successful bidders will deposit 10% of contract price per property in the form of cashier's check or wire transfer to Taylor Auction & Realty, Inc. The entirety of the remaining balance is due within 30 days at closing. This online auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Contract for Sale of Real Estate. Purchaser will be responsible for all wire transfer fees.
AUCTION CONTRACTS: Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Taylor Auction & Realty, Inc. within 24 hours of the end of the auction. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.
AUCTION BID DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for the Sale and Purchaser of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
LIQUIDATED DAMAGES: If the buyer chooses not to close within the stated time and no written extension has been granted by the seller, the buyer will forfeit all of the deposit. If such action occurs, Taylor Auction & Realty, Inc. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.
Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT: Taylor Auction & Realty, Inc. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not acting as a buyer's agent. Please sign and return Working with a Real Estate Broker before you bid acknowledging your understanding of agency. TAR reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in the Contract to Purchase Real Estate.
BIDDER BROKER PARTICIPATION: A Broker Participation Form with complete instructions is available at www.taylorauction.com
SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract today.
CLOSING: Time being of the essence, these sales shall be closed as soon as possible within the 30 days period. The United States Bankruptcy Court will convey clear title to the property and is responsible for only deed preparation. All other closing costs are the responsibility of purchaser.
CLOSING LOCATION/AGENT: Closing agent/location will be provided no later than ten (10) days after the auction date.
TAXES: Taxes for 2016 to be prorated.
CLOSING TIME: Within 30 days and upon approval of bankruptcy court.
POSSESSION: Purchaser shall receive possession of property at closing.
ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
RESTRICTIONS: Subject only to local and State of Mississippi laws, ordinances and regulations. Property is selling to all easements of record. Seller is placing no restrictions on the property. The seller does warrant that they have good merchantable title to the real estate and that they will convey the same with a trustee deed, free from all encumbrances, liens or judgments at the time of closing.
DISCLAIMER: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Bidders must conduct and rely solely upon their own investigations and inspection in regard to condition and feasibility of the bidder’s intended use. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
Note: Under Title X, the purchaser of a single family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. All bidders must sign “Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards waiving the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. If a 10 day opportunity is demanded to conduct a risk assessment or inspection, the ten days starts 10 days before the close of the auction.
Hold Harmless: Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.
SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction and Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction.
Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction. Disclaimer of warranties: There are no understandings, agreements, representations or warranties, express or implied not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose.
Bidder Responsibilities: Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or auction company may bid on auction for absentee bidders or at the direction of interested bidders.
Guaranty Agreement in regard to bidding for a business entity: 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 Taylor Auction & Realty, Inc and completion of the transaction.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.
Refresh Bidding: Refresh your screen constantly during the closing minutes of the bidding, or Enable the Auto Refresh feature.
By bidding on any item, the bidder shows acceptance of the terms of the auction.
For information in regard to the auction process call us at 662.226.2080 or email [email protected] or [email protected]
You may email or fax the required documents. Fax: 1.662.227.1653
Thank you for your interest in this auction.
Benny Taylor CAI AARE CAGA
Taylor Auction & Realty, Inc.