Terms & Conditions

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CONDITIONS OF SALE: 

• Bidders shall satisfy themselves as to the condition, quality, and description of the property before bidding. 
• All information and descriptions are believed to be correct. However, no warranties or guarantees are expressed or implied. 
• All property is sold “AS IS, WHERE IS.” Real estate selling subject to all easements and restrictions recorded or unrecorded. 
• Announcements made day of sale take precedence over any advertisements. 
• Selling by deed. 
• Bidders must register and accept Terms & Conditions to bid.

TERMS: 

• 7%-10% Buyer’s Premium will be added to the last bid to determine contract price of real estate. 
• Winning bidder is responsible for signing Auction Purchase Contract and delivering the 10% Down Payment Deposit within 24 hours of being declared winner. 
• Closing to be within 45 days of signing the Auction Purchase Contract. 
• Taxes will be prorated between Buyer and Seller as of the date of closing.
• Possession is upon delivery of deed. 
• There are no pre- or post-sale contingencies, including financing.

Private Remarks:

• Co-broker commission of 1%-2% to agent who pre-registers successful bidder 3 days prior to day of auction. Pre-register docs can be found on the this website under tab AUCTION FORMS.
• Bidders must be registered at least 24 hours prior to end of
• auction unless otherwise approved by the auctioneer.
• All bidders will be required to electronically sign an Online Auction Bidder Agreement which can be found on the website.
• If a bidder declines to sign an Online Auction Bidder Agreement they will not be approved to bid.
• Please call or text our office at (270) 282-4909 with any questions.
• Bids will be accepted only from bidders that have duly registered
• in accordance with the terms and conditions of this sale.
• All bidders must be 18 years or older to be eligible to bid.
• Bidders shall satisfy themselves as to the condition, quality,
• and description of the property before bidding.
• All information and descriptions are believed to be correct; however, no warranties or guarantees are expressed or implied.
• All property is sold "AS IS, WHERE IS WITH ALL FAULTS."
• There are no pre or post sale contingencies, including financing.
• Real Estate is selling subject to all easements and restrictions recorded or unrecorded.
• This is a reserve or Absolute Auction. 
• Seller reserves the right to accept or reject the highest bid, if RESERVE AUCTION,
• Seller may also accept an offer at anytime during the auction process.
• All bids placed online are final and cannot be canceled.
• By accepting these Terms and Conditions you are agreeing to purchase property and sign an Online Auction Real Estate Purchase Contract if declared Winning Bidder.
• A 7%-10% Buyer's Premium will be added to the last bid of the Real Estate to determine the total contract price.
• Winning Bidder must sign a Real Estate Purchase Contract and deposit a down payment equal to 10% of the contract price (which is the high bid price plus the Buyer's Premium) within 24 hours of being declared Winning Bidder.
• Example: If the high bid is $100,000 the Buyer's Premium will be $10,000 making the Contract Price $110,000. The 10% Down Payment Deposit will be $11,000.
• The purchase contract is available for inspection and review.
• The terms are not negotiable upon being declared Winning Bidder.
• The 10% Down Payment Deposit must be delivered within 24 hours of being declared Winning Bidder, with the balance due at closing.
• The Down Payment Deposit may be delivered by ACH or Wire Transfer to Steve Long Realty & Auction Escrow.
• Any Wire Transfer or ACH fees are the responsibility of the buyer and will be deducted from the total Down Payment Deposit.
• If Winning Bidder defaults on signing Auction Purchase Contract and/or delivering the 10% Down Payment Deposit, Seller has the right to void the Online Contract.
• Down Payment Deposit is to be paid to the seller if the buyer defaults on closing.
• Closing to take place at Reynolds, Johnston, & Hinton, Bowling Green KY 42104
• Seller shall pay for deed preparation, deed transfer tax and recording.
• Buyer shall pay closing fees which includes preparing closing statements and conducting the closing.
• Buyer to pay for title exam, title insurance (if any) and all costs associated with Buyer's loan.
• Real Estate taxes shall be prorated between the Seller and Buyer as of date of closing.
• Possession is to be given upon delivery of deed at closing.
• Announcements made day of sale take precedence over any advertisements.
• The auctioneer's decisions relative to bidding increments, order of sale and any disputes between bidders will be final.
• All information contained in the auction brochure, newspaper advertising, online advertising or supplied either in writing or verbally by staff members was derived from sources believed to be reliable, but not guaranteed.
• Buyers shall rely on their own information, judgment and inspection of the property and records. Steve Long Realty & Auction has the right to extend the auction 24 hours if any technological issues arise.