This auction is going to be conducted live onsite with internet bidding available during the live auction. If you are attending the auction onsite you do not need to register online but please contact our office for those terms and conditions specific to attending the live onsite auction as they vary slightly.
TERMS AND CONDITIONS For Bidding Online
- The auction is open to everyone to register. In order to register please follow the online instructions for seller pre-approval. To bid on our property you must be of legal age to enter into a contract to purchase real estate.
- In order to be approved to bid a $50,000 deposit must be received by the auction company prior to the auction. The deposit can be wired, hand delivered or express mailed to our office in the form of a cashier's check (made payable to Elliot Paul & Company). Should you not be the high bidder the deposit will be promptly returned to you.
- The winning bidder must sign a Real Estate Purchase Agreement. Upon being declared the top bidder, the already received deposit will be applied as a partial deposit and the deposit must be increased to ten percent (10%) of the total contract price (which is the high bid price plus the buyer’s premium) of the property due immediately upon signing the contract in escrow no later than 24 hours after the end of the auction. The deposit can be wired, hand delivered or express mailed to our office.
- The purchase contract is available for inspection and review. The terms are not negotiable upon being declared the winning bidder.
- The closing will take place at the office of the closing agent designated by the seller.
- The bidding will be open and everyone will have access to the bid history during the auction.
- The high bidder will be notified immediately at the conclusion of the auction.
- All bidders are encouraged to personally inspect the real estate being offered. The property will be sold in "AS-IS" condition. The buyer will be responsible for all closing costs including, but not limited to documentary stamps, title insurance and all other closing costs. Real estate taxes for 2019 shall be the responsibility of the buyer. No representation is made with respect to suitability for any intended purpose or use. Please inspect the property and records prior to making any bids.
- The auctioneer's decisions relative to bidding increments, order of sale and any disputes between bidders will be final. Elliot Paul & Company shall have the right to cancel or withdraw the property at its sole discretion.
- Please be advised that the auctioneer shall offer the property sold to the highest bidder regardless of price. Neither the seller nor his representatives are allowed to bid.
- Broker participation is invited and any licensed real estate broker is eligible to earn commission equal to twenty percent (20%) of the net commission provided their client has been registered with the office of the auctioneer.
a) The prospect must be registered in writing with Elliot Paul & Company and countersigned by the broker/salesperson. The registration must be received 24 hours prior to the auction by email.
b) Broker/Salesperson acting as principals are excluded from receiving commissions.
c) Broker/Salesperson must be procuring cause.
d) Commission will be paid at the successful closing of each transaction
- The method and order of sale shall be at the sole discretion of the auctioneer. The auctioneer may change or modify the Terms and Conditions of this auction by updating online material. Any such change shall take precedence over previously printed material or oral statements made.
- Bids will be accepted only from bidders that have duly registered and have been approved in accordance with the terms and conditions of sale.
- A ten percent (10%) buyers premium will be added to the high bid made and taken and included in the total contract price.
- The purchase contract provides for payment of the balance of the total purchase price be made no later than June 14, 2019. TIME IS OF THE ESSENCE.
- As required by Florida Statute 475, which regulates the sale of real estate in Florida, Elliot Paul & Company represents the seller in this transaction.
- All information contained in the auction brochure, online advertising, bidder information 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.
- Bidders are encouraged to preview the property. Contact the auction company for preview dates and times.