Online Registered bidders: Registered Bidders are all persons who complete, sign, and acknowledge acceptance of this Registration Contract and any other terms of the Auction as established by the Auctioneer, and who present at the time of registration and prior to bidding an Initial Deposit of ten thousand dollars ($10,000.00) Registered Bidders are referred to as “Bidders”. Initial Deposit: is CASH or CASH EQUIVALENT INSTRUMENT earnest money in the amount of ten thousand dollars ($10,000.00) payable to The Counts Realty & Auction Group, Inc. It must be delivered to the auctioneer in order to be approved as an online bidder. The Winning Bidder agrees to forfeit all claims to the Initial Deposit for the particular Auction Property won upon announcement by Auctioneer of the Winning Bidder’s identity. The Initial Deposit shall be credited against the Winning Bidder’s purchase payment. At that moment, the Initial Deposit will become non-refundable to the Buyer. In the event of a default by the online buyer, the bidder will be responsible for any additional costs or losses incurred in the resale of the property. Please contact office for additional information 1-800-780-2991. Additional Cash Deposit is that amount equal to ten percent (10%) of the Contract Price less the ten thousand dollars ($10,000.00) Initial Deposit. The Additional Cash Deposit must be deposited into escrow within twenty-four hours (24 hrs.) of the announcement of the Winning Bidder’s Identity by the auctioneer. Buyer’s Premium is five percent (6%) of the Hammer Price which is added to the Hammer Price which constitutes the Total Contract Price of the Auction Property. In the event the Winning Bidder fails to execute the Purchase Agreement or fails to deliver the Additional Cash Deposit strictly in accordance with the terms, the Winning Bidder forfeits all of his Initial Deposit of Ten thousand dollars ($10,000.00), and the Winning Bidder releases the Initial Deposit to the Auctioneer and Sellers and the Sellers are free to dispose of the Auction Property to the next highest bidder or the person of the Seller’s choice. Bidder/Buyer holds Auction Company harmless from any and all claims and instructs them to release all deposit funds to Auctioneer and Seller equally and immediately pursuant to this clause. Terms of Sale: A 5% Buyer's Premium will be added to the high bid at the auction to determine the contract sales price. A 10% non-refundable deposit of the contract sale price is due the day of the auction in the form of cash, cashier's check, or a personal check with proper identification with the balance due at closing. The closing will take place within 30-days of the auction. The property is being sold "As Is - Where Is - With All Faults." Financing is not a contingency of the sale. Title will convey via General Warranty Deed. The property is being sold at AUCTION TO THE HIGHEST BIDDER WITH SELLER CONFIRMATION. A broker participation fee of up to 2% (see Broker Participation Form for details) of the high bid will be paid to a licensed real estate agent who pre-registers their buyer with The Counts Realty & Auction Group at least 24-hours prior to the auction, attends the auction with the buyer, and accompanies the winning bidder through the contract signing and closing process. The auctioneer is an agent for the Seller. Announcements made the day of sale take precedence over any previously printed materials or other oral statements made. All information contained herein is believed to be correct, but is not guaranteed. All purchasers must independently investigate and confirm any information or assumption on which any bid is based. Sale is subject to cancellation, postponement, or pre-sale. PURCHASER ACKNOWLEDGES THAT NEITHER THE SELLER NOR THE AUCTIONEER MAKES ANY REPRESENTATION OR WARRANTY CONCERNING THE PROPERTY OR DESCRIPTIONS PROVIDED BY SELLER, AUCTIONEER OR THEIR AGENTS OF THE PROPERTY.