Auction Terms & Conditions ALL PROPERTIES IN THIS AUCTION ARE SOLD SUBJECT TO SELLER CONFIRMTION - (Meaning the seller must accept the highest bid placed.)
1. This auction is conducted by American Land Auctions, LLC.
2. The Auctioneer reserves the right to control the increments of the bids.
3. At the completion of the public auction, the high bidder will sign a Purchase and Sale Agreement in the form of the specimen attached here to, the terms of which are incorporated herein.
4. Deposit money for this auction will be 10% in cash, Cashier's Check, certified check, bank check or personal check made payable to American Land Auctions, LLC. Escrow Account. The balance of the purchase price will be due and payable within 45 days upon the presentation of the deed at settlement.
5. Real Estate Transfer Tax imposed upon this sale will be paid by the Buyer.
6. Property taxes will be pro-rated to the Buyer and Seller on the date of final settlement. The county and municipal taxes will be pro-rated on a calendar year basis and the school taxes will be pro-rated on a fiscal year basis.
7. The Seller will convey a good and marketable title to said property free and clear of all liens and encumbrances, if any should exist. In the event that a clear title cannot be conveyed, the Seller and the Auctioneer shall return the deposit money and the sale shall become null and void.
8. In the event the high Bidder fails to comply with any of the terms and conditions of the sale, the Bidder will be in default. In such case, the Bidder's deposit shall be retained by the Seller and Auctioneer as liquidated damages. It is understood that all times and conditions of the purchase agreement shall be of the essence.
9. The Buyer's commitment under the Purchase and Sale Agreement will NOT be contingent upon securing financing or upon any other conditions. The Buyer's Deposit will not be refunded due to any inability to obtain financing or any other failure of the Buyer to perform.
10. The property is sold "AS IS/WHERE IS" with all existing defects and without any warranties of any kind, including but not limited to fitness for any particular purpose, habitability or merchantability. Bidders are invited to inspect the premises and public records prior to making a bid. No warranties guarantee or representations of any kind are made; and all warranties are disclaimed with respect to any improvements located underground, the location and/or boundaries of the premises or improvements thereon, environmental compliance, or its compliance with any applicable zoning or land use regulations, laws or ordinances. The Buyer agrees that the Seller is not giving any expressed warranty, has no successor liability and is not obligated to give any implied warranties. The Buyer will assume responsibility and expenses for any title search, title examination or title insurance, as set forth in the Purchase and Sale Agreement.
The Buyers will assume the risk of any defects and each Bidder expressly
acknowledges and agrees that the amount bid reflects the "AS IS/WHERE IS"
condition. Each Bidder further acknowledges and agrees that such Bidder in no way relies upon representations made by the Seller or agents of the Seller.
11. The Seller shall maintain the property in its present condition. The Seller shall bear the risk of loss from fire or other casualties until the time of settlement. The Buyer is hereby notified that he/she may insure equitable interest in the property as of the time of the acceptance of the Purchase and Sale Agreement.
12. No coal, gas, or mineral rights are conveyed.
13. The Buyer acknowledges having had the opportunity to examine the property, the public records, the Seller's Disclosure Statement and having had a 10 day opportunity prior to the auction to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazard prior to making a bid. The Buyer enters into this agreement to purchase as a result of said inspections and not as a result of any advertising, announcements or statements made by the Seller or agents of the Seller or hereby waives the right for such inspections.
14. In the case of disputed bidding, the Auctioneer shall be the sole and absolute judge in settling such dispute.
15. The Auctioneer is acting only as agent for the Seller.
16. In the event of any conflict between these Terms and Conditions of Sale and the Purchase Agreement, the Purchase Agreement shall control.
17. By bidding at this auction, all Bidders acknowledge acceptance of the Terms and Conditions. If you do not agree with any of the Terms and Conditions, do
not bid on the property.
18. Other Terms and Conditions or modifications may be announced at the time of the auction and will take precedence over printed information or previous announcements.
BUYER AND SELLER AGREE THAT THE SALE OF THE PREMISES IS MADE UNDER THE FOLLOWING TERMS AND CONDITIONS:
1. Buyer has paid to American Land Auctions, LLC. and a deposit of 10% at the signing of this Agreement which deposit shall be held by American Land Auctions, LLC. in a non-interest-bearing escrow account pending disposition according to this Agreement.
2. The balance of the purchase price shall be paid in cash at the time of final settlement and the delivery of the deed, which shall take place on or before 30 days from close of action. Settlement shall be made at the offices of the sellers attorney, within regular business hours, or at such other place and time as may be agreed by the parties.
3. Except as may be otherwise provided in this agreement, title to the premises shall be good and marketable, but shall be subject to previously existing exceptions, reservations and conditions and to all existing restrictions, easements, recorded agreements and covenants, rights of public service companies, easements of roads, zoning regulations, and all ordinances, statutes and regulations of any constituted public authority now in force or which may be passed prior to final settlement. If title in accordance with this Agreement cannot be conveyed by Seller, Buyer shall have the option of taking such title the Seller can give without reduction of price, or in the alternative, of being repaid all money paid on account of the purchase price,
without interest. If in such case, Buyer elects to receive repayment of all money paid on account of the purchase price and receives the same, this Agreement shall become null and void and Seller's liability under this Agreement shall absolutely cease.
4. Taxes, current property rent or royalties, and other current charges, if any, shall be apportioned to the date of final settlement. All Pennsylvania and local transfer and sales taxes imposed upon this sale shall be paid by the Buyer.
5. Possession shall be delivered to Buyer at the time of final settlement. Conveyance shall be made by Fiduciary Deed.
6. Should Buyer fail to make settlement as provided in this Agreement, and time is agreed to be of the essence of this Agreement, the sums paid on account of the purchase price may be retained by Seller, either on account of the purchase money, or as complete damages and compensation for the loss and expenses Seller has been put to in this transaction, as Seller shall elect. Buyer acknowledges that Seller's damage would be difficult to determine accurately in the event of Buyer's default, but that the sums paid on account of the purchase price represent a fair estimate of such damages. If Seller elects to retain the sums paid on account of the purchase money, Seller may resort to any other action or remedy in law or equity that may be appropriate. If Seller elects to retain the sums paid as complete damages, then rescission of this Agreement shall be deemed to take place automatically, this Agreement shall become null and void, and Buyer shall relieve of any further liability under this Agreement. In the event of Buyer's default, Seller may elect his remedy by giving written notice of such election to Buyer and in no other manner.
7. The parties understand and agree that American Land Auctions, LLC. acts only as Seller's agent, and in no case shall be held liable to either party for the performance of any term or covenant of this Agreement, or for damages for non-performance of the same.
8. Buyer acknowledges that he/she has entered into the Agreement as a result of Buyer's inspection of the premises and not as a result of or in reliance on any advertisement, handbill or other representation, either oral or written, made by Seller or American Land Auctions, LLC. Buyer agrees that neither Seller nor American Land Auctions, LLC. shall be responsible for any error in advertisement, handbill or announcement made by Seller or by American Land Auctions, LLC. Buyer further agrees that Seller makes no warranty as to the physical condition of the premises or improvements thereon, environmental compliance, or its compliance with any applicable zoning or land use regulations, laws or ordinances, and that the premises are being sold "AS IS" with all existing defects and without any warranties of any
kind, including but not limited to fitness for any particular purpose, habitability or merchantability. Buyer has been invited to inspect the premises and public records prior to making a bid. Buyer agrees that the Seller is not giving any expressed warranty, has no successor liability and is not obligated to give any implied warranties. The Buyer will assume responsibility and expenses for any title search, title examination or title insurance, Buyer will assume the risk of any defects and expressly acknowledges that the amount of purchase reflects the "AS IS" condition.
9. This Agreement contains the entire agreement between the parties affecting the sale of the premises. No prior agreement or representation of any kind, no contemporaneous or subsequent oral agreement or representation, and no dealing between the parties or custom shall be permitted to contradict, vary or add to the terms of this Agreement.
10. This Agreement shall extend to and be binding upon the heirs, personal representatives, successors and assigns of the parties.
11. Any notice required or permitted to be delivered under this Agreement shall be deemed received when sent by United States mail, postage prepaid, certified mail, return receipt requested, addressed to Seller
or Buyer as the case may be at the address set for the for such party in the Agreement.
12. This Agreement shall not be recorded in any office for the recording of deeds or in any other office or place of public records and if Buyer shall record this Agreement or cause or permit this Agreement to be recorded, Seller may elect to treat such act as a breach going to the essence of this Agreement, and shall have the same remedies as are provided Seller in the event of Buyer's failure to make settlement in Paragraph 6 of this Agreement.
13. Deposits shall be paid to American Land Auctions, LLC. as Agent for Seller, who shall retain them in an escrow account until consummation or termination of this Agreement in conformity with all applicable laws and regulations. In the event of litigation of the return of deposit monies, Agent for
the Seller will distribute the monies pursuant to final order of court or the agreement of the parties. Buyer and Seller agree that, if American Land Auctions, LLC. is joined in litigation for the return of deposit monies American Land Auctions, LLC. reasonable attorney’s fees and costs will be paid by the party joining American Land Auctions, LLC.
14. All words used in this Agreement shall be deemed to be of the number, gender and tense required by the context. If more than one person constitutes "Buyer" the obligations of Buyer under this Agreement shall be joint and several among all persons constituting Buyer.
15. DISCLOSURE OF INFORMATION AND ACKNOWLEDGEMENT OF LEAD-BASED PAINT AND/OR LEAD-BASEPAINT HAZARD. Buyer acknowledges having received a copy of the booklet, Protect Your Family from Lead in Your Home, and the Lead-based Paint and/or Lead-based Paint Hazard Statement.
16. Buyer acknowledges that Seller has provided a copy of the Seller's Disclosure Statement according to the provisions of the Real Estate Seller Disclosure Law (68 Pa. C.S. 7301, et. seq.)
COAL NOTICE - THIS DOCUMENT MAY NOT SELL, CONVEY, TRANSFER, INCLUDE OR INSURE THE TITLE TO THE COAL AND RIGHT OF SUPPORT UNDERNEATH THE SURFACE LAND DESCRIBED OR REFERRED TO HEREIN, AND THE OWNER OR OWNERS OF SUCH COAL MAY HAVE THE COMPLETE LEGAL RIGHT TO REMOVE ALL OF SUCH COAL AND, IN THAT CONNECTION, DAMAGE MAY RESULT TO THE SURFACE OF THE LAND AND ANY HOUSE, BUILDING OR OTHER STRUCTURE ON OR IN SUCH
LAND. (This Notice is set forth in the manner provided in Section 1 of the Act of July 17, 1957, P.L. 984.) "BUYER ACKNOWLEDGES THAT HE MAY NOT BE OBTAINING THE RIGHT OF PROTECTION AGAINST SUBSIDENCE RESULTING FROM COAL MINING OPERATION, AND THE ECONOMIC INTERESTS IN THE COAL. THIS ACKNOWLEDGEMENT IS MADE FOR THE PURPOSE OF COMPLYING WITH THE PROVISIONS OF SECTION 14 OF THE BITUMINOUS MINE SUBSIDENCE AND LAND CONSERVATION ACT OF APRIL 27, 1966."
17. The bidder agrees that venue for any litigation, action or court proceeding arising from or relating to this auction shall lie in the courts governing American Land Auctions Shelocta Location at 2474 SR 156, Shelocta, PA 15774 (Armstrong County Magistral District #4)
Seller User Terms
Bidder User Terms