Absolute Online Real Eastate Auction – Topeka, Kansas

Terms and Conditions for the Internet-Only sale of 3407 SW Watson Avenue, Topeka, Kansas 66614. Bidding begins on Tuesday, October 3, 2023, at 1:00 PM Central Time. Bidding will begin to close on Tuesday, October 17, 2023, at 6:00 PM Central Time.1.Property is offered "as-is" with all faults with positively no contingencies. Buyer is responsible for conduction their own due diligence, including all desired inspections, at Buyer's expense, prior to auction date.2.This is an "Absolute Auction". Meaning, the seller has agreed to sell the property regardless of the price.3.There is a 10% Buyer's Premium for this auction4.The winning bidder MUST be able to close on the property on or before Wednesday, November 15, 2023.5.Any description of any improvement is for informational purposes only, and no representations, warranties or guarantees are made concerning quality or suitability for use.6.The property shall transfer by Deed that is acceptable to the title company, subject to seller obtaining merchantable title, free and clear of all liens. Seller and Buyer will split the cost of title insurance and the closing agent's fee 50/50.7.The buyer will pay a transactional fee of $250.00 to Town & Country Real Estate and Auction.8.Once bidding is closed, there shall be no further bidding. In the case of any dispute, the Auctioneer will use his judgment as to good faith of all claims and his decision is final.9.All bidders are required to register to participate in the auction.10.If a bidder has an agent acting on their behalf, that agent MUST request, fill out and return the "BUYER BROKER REGISTRATION FORM" to the Auction Company no less than 24 hours prior to the auction date and time and PRIOR to bidder registering for auction. To be eligible for compensation from Auction Company said agent MUST attend the auction, all document signings and closing.11.Should a dispute arise after the auction, Auctioneer's records shall be conclusive in all respects.12.This is a privately owned and operated auction. We reserve the right to refuse participation to any person(s). No transfer shall be recognized from one buyer to another.13.Auctioneer and/or seller reserves the right to withdraw the property prior to auction close.14.Bidder does herby indemnify and hold harmless Auction / Real Estate salesman, broker, Auction Company, and Seller from all damages, claims or liabilities from injuries to person or property of any type whatsoever, caused during auction.15.Auction Company has full discretion to modify the date and, order, and details of the sale of any asset or conduct of any auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of the Auction Company or the Seller.16.Auction Company and seller are not responsible for a bidder's inability to participate in the auction, including but not limited to technical issues, internet issues, personal ability, etc.17.ANY BID SUBMITTED CONSTITUTES A BINDING OFFER TO PURCHASE AND AGREEMENT TO THE TERMS & CONDITIONS, AS WELL AS AGREEMENT TO PERFORM.18.Purchase Contract / Earnest money: The high bidder at the close of the auction shall sign the purchase contract and present the non-refundable earnest money in the form of certified funds, personal check, or cash, at the property, or other agreeable place, and sign the purchase contract no later than 4:00 PM Central Time on Wednesday, October 18, 2023. Said earnest money shall be in an amount equal to 10% of the contract price. Said earnest money will be tendered and made payable to Lawyers Title of Kansas, will be deposited into their escrow account, and held until closing. Said escrow company shall also handle all closing matters. Balance of the purchase price shall be paid by certified funds and is due at closing on or before Wednesday, November 15, 2023. Time is of the essence in this transaction.19.Town & Country Real Estate and Auction listing agent Richard H. Garvin is acting as a Designated Seller's Agent and represents the seller, not the buyer: Emily Malsbury is acting as a Transactional Broker.20.Persons registering for this auction acknowledge and agree that their contact information can be added to our data base so they can be notified of upcoming auctions.