Fill and Sign the Auction Form

- 1 - AUCTION SERVICES AGREEMENT THIS agreement is entered into between ___________________, hereinafter "Auction Company," and ______________________________, hereinafter "Owner". FOR VALUABLE CONSIDERATION the receipt and sufficiency of which is hereby acknowledged, AUCTION COMPANY and Owner do hereby covenant, contract and agree as follows: 1. Owner employees AUCTION COMPANY to offer for sale at public auction the real property described at follows: _____________________________________________________________ 2. Owner agrees to pay AUCTION COMPANY a ________ (___%) commission for the services of in the event the property sells. If the property does not sell, Sellers agre e to pay AUCTION COMPANY all advertising expenses and a “no-sale” fee of $__________. Sellers must accept the highest bid if same equals or exceeds $_____________________. If the property is sold, advertising will be limited to $__________. 3. AUCTION COMPANY agrees to conduct an auction of the property described herein and to perform the following services: (a) Prepare all public advertisements of the Auction, publish same in a newspaper circulated in the County where the property is loca ted and distribute circulars in various places in the County where the property is located; (b) Provi de all labor to conduct the auction; (c) Pay all labor and other related expense s in connection with the auction other than closing costs for real property which shall be the responsibilit y of Owner; (d) Assist Owner in the preparation and showing of the property to be sold; and (e) Deposit all auction funds received into a trust account and disburse unto owner said funds collected, less commissions earned, upon closing. - 2 - 4. Owner agrees to assist AUCTION COMPANY in the auction of the property described herein and to do the following: (a) not to withdraw the property from the auction without the consent of AUCTION COMPANY; (b) to pay the commission due on all real property sold by at auction or by Owner to any person for a period of 90 days after the auction who inquired about the real property to be sold, attended the auction or bid on the rea l property; (c) remove any for sale or realtor signs from the property upon the execution of this agreement; (d) to supply AUCTION COMPANY with a current title opinion and survey of the property, if available; and (e) not to disclose the appraised value, nor disclose the minimum bid, reserve price, if any, or asking price to any person interested in the property without the consent of AUCTION COMPANY. 5. If the property does not sell at auction, Sellers hereby grant AUCTION COMPANY 90 days to market the property and to pay commissions as stated herein if the property sells. 6. This agreement constitutes the entire agreement of the parties. DATED this the ____day of ________________, 20___. ____________________________________________________________ Accepted: AUCTION COMPANY_______________________________