Terms

As in all auctions these properties/items are being sold in as-is where is conditions. A 10% buyer’s premium will be added to the bid price to determine the final sales price. On land, houses and buildings a 10% earnest money will be required within 24 hours from the end of the auction if you are the successful high bidder on land. 

All bids are a legally binding contract. Once a bid is placed it cannot be retracted. Do not bid unless you intend to buy this item at the amount of your bid plus the buyer's premium. Do NOT proceed unless you agree to these terms. 

By registering for and/or placing a bid in any auction conducted by Smith Auction Company, all bidders acknowledge that they have read, understand, and agree to be bound by all terms and conditions set forth by the auction company. Submission of a bid constitutes a legally binding offer and agreement to comply fully with these terms.

·        Balance due at closing on or before 45 days from date of sale.

·        A 10% Buyers Premium will be added to the final bid price to determine the total final sales price.

·        Taxes will be prorated.

·        Possession given with deed.

·        As in all Auctions, this property is being offered in “as is, where is” condition.

·        The Auction Company nor the sellers make any warranties, either implied or expressed as to property condition or size.

     Buyer purchases property based solely on their own inspection and estimation of value.

All lots are subject to an auto-extend feature. If a bid is placed within the final five (5) minutes before a lot’s scheduled closing time, the closing time for that lot will automatically extend by an additional five (5) minutes. This process will continue until no further bids are placed within the final five-minute period, at which point the lot will close. The purpose of this feature is to allow fair opportunity for competitive bidding and to prevent last-second bid sniping.

Online auctions conducted by Smith Auction Company are subject to staggered end times. In the event that multiple lots are scheduled to close on the same day, each lot will close at a slightly different time. This means that not all lots will end at the same specified time. Staggered closing is designed to ensure a smoother bidding experience and allow bidders the opportunity to place final bids on multiple lots without overlap.

·        In all instances the auctioneer is acting as a single agent for the seller.