AUCTION TERMS AND CONDITIONS:
TERMS & CONDITIONS OF REAL ESTATE AUCTION LOCATED AT
4918 LEE TERRACE, WOOLFORD, DORCHESTER COUNTY, MD 21677.
THIS IS AN INTERNET ONLY AUCTION!
AUCTION CLOSING DATE: April 22, 2021, beginning at 1:00 p.m. EDT. @www.stouffersauctionco.com
PREVIEW: OPEN HOUSE April 17, 2021, FROM 12:00 P.M. TO 4:00 P.M.
For any questions regarding this auction, please email email@example.com or call
301-791-6896. All parties are required to abide by the Terms and Conditions. Please read
these Terms and Conditions carefully! They contain important information about the online auction itself and your rights and responsibilities as a bidder.
1. Registration: To gain access to the Auctioneer's bidding system, you need to register and obtain a bid number. You must be at least eighteen (18) years old to register. You agree that all information that you provide during the registration process will be true and accurate. You will be banned from participation in future auctions indefinitely should you provide any false information during the registration process.
2. Deposit: In order for the Auctioneer to process your registration, you must have a working Visa, Discover or MasterCard associated with your account. After you have registered for this online auction, the Auctioneer will authorize the credit card you have placed on file for verification.
3. Bidder's Duty to Update Information: Whether you are a new or returning bidder, you agree that if any of the information associated with your bid number - including contact information and credit card information - changes at any time prior to, or during, this auction, you will notify the Auctioneer of the change by updating your bidder profile.
4. Conduct of Auction: All deposits, bids, and credits in this auction will be made in United States Dollars. You agree not to use any hardware, software, program, or system that would interfere with the orderly conduct of this auction. You further agree not to copy, reproduce, or publically display any content from the Auctioneer's website without first obtaining written permission from the Auctioneer.
5. Bidder's Duty to Inspect and Investigate: You acknowledge that the Auctioneer is providing you with the opportunity to inspect the property being offered for sale in this auction. The Auctioneer strongly encourages you to attend the scheduled open house for this auction, If you choose not to attend the scheduled open house and are in doubt about the condition, completeness or suitability of the property, please bid accordingly OR do not bid.
A. Photographs and Descriptions: The Auctioneer regularly posts property descriptions and photographs to aid bidders in the bidding process, and we make every effort to ensure that the descriptions and photographs that we post accurately represent the property being offered for sale. Title shall be conveyed free and clear of any liens.
B. Choose wisely: We want everyone to get a fair deal. However, if you bid on the wrong property or later decide a property is not suited for your intended use, our clients will not assume the cost of your mistakes. You agree that your failure to inspect or otherwise become fully informed about the property offered for sale in this auction will not be grounds neither for a refusal to pay amounts due nor for any claim against the Auctioneer and/or Seller(s).
6. WARRANTY AND CONDITION OF PROPERTY SOLD: REAL ESTATE IS SOLD “AS IS, WHERE IS”, WITH ALL FAULTS, AND WITH NO EXPRESS OR IMPLIED WARRANTIES. IT IS BELIEVED THAT ALL DESCRIPTIONS ARE ACCURATE DESCRIPTIONS BUT ARE NOT GUARANTEED.
The highest bidder shall be the purchaser(s), with the seller(s) reserving the right to reject
any and all bids; to adjourn the sale to a subsequent date, or sell the same privately.
B. The Auctioneer at his sole discretion shall determine the bidding increments and
C. Seller(s) warrant legal authorization to convey title of said real estate, and agrees to convey a good and marketable title to purchaser subject only to all recorded easements,
conditions, restrictions and agreements as they may lawfully apply.
D. Stouffer’s Auction Co. herein makes no representations or warranties as to the
condition of the real estate, that the Purchaser(s) accepts the real estate “AS IS” and that
the purchaser(s) waives any claims for any liability imposed through any environmental
7. If You are Outbid: You can renew your bid at any time prior to the close of the auction.
8. Reporting Bidding Errors: You should carefully review every bid you choose to make before submitting that bid. The Auctioneer will not automatically assume that any bid - even a bid that increases your own, lower bid - was made in error. Many bidders routinely increase their own bids to price the property out of the reach of other bidders. If you mistakenly increase your own bid at any time during the auction, or make some other bidding error (e.g. placing your bid number in the price field), you must immediately contact the Auctioneer by email at firstname.lastname@example.org. Reports of bidding errors must be made via e-mail; phone reports will not be accommodated.
9. Timeliness of Bidding Error Reports: If you make a bidding error during this auction, you must identify and report the error before the auction begins to close. The Auctioneer will not undo bidding errors reported after the auction has begun to close.
10. Bidder's Duty to Report Fraud: You are responsible for all bids made from your account. If you believe that an unauthorized person has gained access to your account, you must notify the Auctioneer immediately by sending an e-mail to email@example.com. You must also report the incident to the relevant law enforcement authorities and send the Auctioneer a copy of any resulting police report. You understand and agree that if you do not promptly report any suspected fraud to the Auctioneer and to the relevant law enforcement authorities, you will be held personally responsible for all purchases made using your account and bid number.
11. Changes in Circumstance: All aspects of this auction are subject to change without notice. The Auctioneer reserves the right to - at any time - (1) remove property from the auction, (2) split or combine property, (3) add minimum bids or reserve prices, (4) cancel, suspend, extend or reschedule the auction of an individual property, and/or auction event, (5) make changes to the auction's closing, or inspection, or (6) take any other action the Auctioneer deems necessary to affect the fair conduct of this auction or protection of buyers', sellers', or other parties' interests. In the event a seller withdraws any property from this auction prior to the close of the auction, the Auctioneer may leave the item on the catalog and buy the item back on behalf of the seller to establish the Auctioneer's earned commission and the buyer's premium due to the Auctioneer from the seller.
12. Closing: The Auctioneer's online auctions are designed to mimic traditional "live" actions. For this reason, this auction will have a staggered, dynamic closing.
A. Staggered Closing: This online auction will automatically begin to close at a rate of one property per minute (if more than one). Individual property closing times may be extended past their scheduled closing time, however, as a result of the Auctioneer's dynamic closing feature.
B .Dynamic Closing: The closing time of a property is automatically extended an additional five minutes whenever a bid is placed within the two minutes leading up to an item's scheduled closing time.
13. Winning Bids: If your bid(s) are determined to be the winning bid, you then become obligated to pay the non-refundable deposit (hand money) of $10,000.00, by bank wire transfer immediately at the close of the auction and execute a Contract of Sale for same provided by Stouffer’s Auction Co, Inc.
A. Notification: If you end up placing a winning bid in this auction, the Auctioneer will contact you by e-mail to let you know you have won. This e-mail notification may be the only contact you receive from the Auctioneer about your winning bid; this means that you are responsible for checking your e-mail following the close of the auction to determine if you have won. If you do not receive an e-mail identifying you as a winning bidder, it most likely is because the Auctioneer has no record of your having placed a winning bid.
B. Bid Inquiries: If you believe that you placed a winning bid, but do not receive an e-mail, you must notify the Auctioneer by sending an e-mail to firstname.lastname@example.org explaining your situation as-soon -as-possible after the auction has closed. You agree that the Auctioneer will be the sole authority regarding the identification of winning bids.
14 Buyer's Premium: A 10% buyer's premium is added to the final bid. This means that if your winning bid is $100,000. 00, you will be charged $10,000 buyer's premium ($100,000.00 + $10,000.00 = $110,000.00 total recorded auction/sale price.
15. Taxes and Transfer Fees: Real Estate tax will be prorated at closing. Recordation, transfer tax and deed preparation will be paid by the purchaser.
16. Default and Resale: If the purchaser fails to comply with these terms of auction/sale they shall forfeit the hand money as liquidated damages and the sale may be rescinded at the option of the seller(s) and in such case the property may be resold at any time without further notice. "TIME IS OF THE ESSENCE"
17. Claims and Choice of Venue: Any claim or controversy out of or relating to these Terms and Conditions, or to any breach thereof, will be settled in Washington County Maryland Court. You agree that all claims will be litigated on an individual basis, and will not be consolidated with any claim made by another party. Venue in every case will be Washington County, Maryland. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should any party file an action contrary to this paragraph, the counterparty may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and/or seller(s) and do not prevail, you agree that you will reimburse the Auctioneer and/or seller(s) for all legal fees and costs.
18. Liability: In all cases, the Auctioneer's liability, and the liability of the seller(s) of the property in this auction will be limited to the refund of your monies paid. The Auctioneer will not be liable for any amount in connection with the postponement or cancellation of this auction, or the withdrawal of any real estate from this auction. In no event will the Auctioneer be liable for lost profits or any special, incidental, or consequential damages arising out of or in connection with this auction or any related auction/sale or transaction.
A. Liability for the Acts of Third Parties: The Auctioneer is not responsible for any action taken by any seller(s), bidder(s), or other third party before, during, or after this auction.
B. No Liability for Site Malfunction: You understand that this auction is online-only, and so relies on devices and programs that may malfunction without warning. You agree that the Auctioneer will not be liable for any error or inconvenience that may be the result of such a malfunction. You further understand and agree that the Auctioneer may void or suspend any sale, or resell any property, if the Auctioneer determines a transaction to have been affected by any site malfunction.
19. Indemnification: You agree to indemnify, defend, and hold harmless the Auctioneer, Seller(s) and their employees, officers, owners, affiliates, agents, and representatives from and against any claims, losses, damages, liabilities, judgments, fees, costs, and expenses, including reasonable legal fees and costs, related to, arising from, or associated with you, your agents or representatives - including, but not limited to, personal injury or property damage caused at any auction site or during removal or transportation of items won at auction, any dispute with another bidder, or any violation of these Terms and Conditions.
20. Limitations: These Terms and Conditions do not - nor are they intended to - create any agency-, partnership-, joint venture-, employer-employee-, or franchisor-franchisee relationship with a bidder. The Auctioneer is an agent for the Seller(s). These Terms and Conditions cannot be altered except in writing by the Auctioneer and the Seller(s).
21. Severability: If any term, provision, paragraph, condition, or other portion of this agreement - or the application of these to any person, place, or circumstance - is held to be invalid, unenforceable, or void, the remainder of this agreement and such term, provision, covenant or condition as applied to other persons, places and circumstances will remain in full force and effect.
22. Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. Bidding in this auction confirms your acceptance of these terms and conditions.