Real Estate Auction Documents

Real Estate Auction Documents

Parties and Auction Identification

Seller Name:

Auctioneer / Agent:    Auction Date:

Property Identification

Bidder / Buyer Information

Auction Sale Terms and Consideration

Winning Bid Amount: $    Buyer’s Premium (%): %

Total Purchase Price (Winning Bid + Buyer’s Premium): $

Deposit / Earnest Money

Deposit Amount to be paid immediately by Winning Bidder: $.    Form of Deposit:

Deposit is: Non‑refundable    Refundable under limited conditions described herein

Inspections, Condition & Contingencies

Inspection Period (days): days from Auction Date. Buyer acknowledges that the property is sold AS‑IS, WHERE‑IS, with all faults except as expressly provided in writing.

Financing Contingency: None (sale unconditional)    Applicable; if applicable, Buyer must specify terms below.

Title, Closing and Possession

Proposed Closing Date: .    Closing Location or Title Company:

Title to be conveyed by general warranty deed / special warranty deed / quitclaim deed: .

Seller shall deliver marketable title free of liens and encumbrances except the following permitted exceptions:

Possession shall be delivered: .

Disclosures

Lead‑based paint disclosure provided: Yes    No

Known prior structural or flood damage disclosed: Yes    No

Known mold or hazardous materials condition disclosed: Yes    No

Default, Remedies and Indemnification

If Buyer defaults in performance, Seller may retain deposit as liquidated damages or elect specific performance or pursue other remedies at law or in equity. Buyer acknowledges that Seller’s retention of deposit is not Seller’s exclusive remedy.

Seller shall have the right to re‑offer the property at auction. Buyer must reimburse Seller for any deficiency in resale price and all reasonable costs and expenses, including auctioneer fees and attorneys' fees, incurred as a result of Buyer’s default.

Each party shall indemnify, defend and hold harmless the other party and the Auctioneer against any claims, liabilities or expenses arising from the indemnifying party’s breach, negligence or willful misconduct in connection with this Agreement.

Representations and Acknowledgments

Seller represents that Seller is the sole owner of the Property and has full authority to sell. Buyer acknowledges receipt of the Auction Terms and the opportunity to inspect the Property prior to bidding and accepts the Property in its present condition except as expressly provided in writing.

Buyer acknowledges that the Auctioneer is acting as agent for Seller (unless otherwise indicated) and that Buyer has no claim against the Auctioneer beyond the Auctioneer’s obligations under applicable auction rules.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the state where the Property is located. This Agreement, together with any auction terms and rider attachments signed by the parties, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements, whether written or oral.

Additional Provisions / Special Conditions

Acknowledgment and Certification

By signing below, Seller and Buyer certify that they have read and understand this Auction Sale Agreement, that all information provided herein is true and correct, and that they agree to be bound by its terms. Buyer acknowledges that Buyer’s offer is binding upon the fall of the auctioneer’s hammer or other closing of bidding.

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