Auction Acknowledgement Form

AUCTION ACKNOWLEDGEMENT FORM

Auctioneer:    Seller:

Auction Date:    Start Time:    Location/Platform:

Property Identification

Bidder Information & Registration

Individual    Corporation    LLC    Partnership

Phone:    Email:    Registration #:    Bidder #:

Auction Terms and Financial Terms

Purchase Price: Bidder acknowledges that the final purchase price is the high bid plus applicable buyer's premium of if applicable.

Earnest Money / Deposit Required at Auction: $    Due: within days after auction.

Closing Date:    Time to Close: days after auction.

Financing Contingency: Yes No    If Yes, days to satisfy:

Inspection Contingency: Yes No    If Yes, inspection period:

Buyer’s Premium Applies: Yes No    If Yes, amount or percentage:

Seller Disclosures

Lead-Based Paint Disclosure: Known lead-based paint or hazards? Yes No

Mold or Moisture Issues: Known mold or prior moisture-related damage? Yes No

Prior Material Damage or Repairs (fire, flood, structural): Known prior damage? Yes No

Acknowledgements, Representations, and Remedies

By signing below, Bidder affirms that Bidder has received, examined and understands the auction terms and the property disclosures set forth herein. Bidder acknowledges that auction sales are final and binding upon the fall of the hammer or the electronic equivalent, subject only to expressly stated contingencies in this form.

The Property is sold AS IS, WHERE IS. Seller and Auctioneer make no express or implied warranties as to the condition, habitability, or fitness for a particular purpose, except as expressly set forth in a written contract signed by Seller. Bidder is responsible for all investigations and due diligence prior to bidding.

Default: If Bidder fails to timely perform any obligations, including payment of deposit or closing, Seller may retain deposit as liquidated damages or pursue other remedies at law or equity. Bidder acknowledges that deposit may be forfeited upon default unless otherwise agreed in writing.

Closing and Title: Closing shall occur at the title company or escrow agent designated by Seller. Title shall be conveyed by the form of instrument commonly used in the jurisdiction, subject to permitted exceptions. Costs of closing shall be apportioned as provided in any separate purchase agreement or, absent agreement, as customary for the jurisdiction.

Commission and Fees: Auctioneer’s commission and any buyer’s premium are separate from the purchase price and are due and payable pursuant to auction terms. Bidder is responsible for any fees required for online bidding or registration, if applicable.

General Provisions

Governing Law: This Acknowledgement shall be governed by and construed in accordance with the laws of the state where the Property is located.

Entire Agreement: This form, together with any auction terms published or provided in writing prior to bidding and any signed purchase agreement executed after the auction, constitutes the entire agreement among the parties with respect to the subject matter and supersedes all prior negotiations and understandings.

Severability: If any provision of this Acknowledgement is held invalid, the remainder shall remain in full force and effect.

Certification and Signatures

By signing this Acknowledgement, Bidder certifies that Bidder is authorized to enter into this agreement on behalf of the named bidder, has read and understands all auction terms and disclosures, and agrees to be bound by the terms stated herein.

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