Weeks Auction Group, Inc. Terms & Conditions:
Online Only Real Estate Terms:
Please Read the following terms carefully. By registering for this auction, you acknowledge that you have read and understood all terms and conditions herein and set forth within the supporting documentation described in the terms.
Week’s Auction Group, Inc. herein after WAG is acting as agent for the seller and at no time is WAG responsible for, acting on behalf of, or acting as agent for the buyer. Full agency disclosure will be acknowledged by both seller and buyer on the Agency Disclosure form attached as Exhibit “C” on the Contract for sale.
As Is, Where Is:
All property is selling “As-Is, where is” with all faults. It is the buyer’s responsibility to conduct any and all inspections and perform all acts of due diligence deemed necessary before bidding. Placing a bid will be considered as acceptance of the property in it’s as-is condition.
Contract for Sale:
Each property is offered under the specific terms provided in the Contract for Sale. The Contract for Sale is available for review at www.WeeksAuctionGroup.com. Property specific contracts will be posted under each property. Please read and review the Contract for Sale for each property you are interested in bidding on as special stipulations pertaining to each property may differ. Please do not bid prior to reviewing the Contract for Sale Document.
For verification purposes, a credit card is required in order to register. Upon registering, an authorization of $1,000.00 will be required. This is to ensure the $1,000.00 default fee is available in the event of a default by the high bidder (see Bidder Default below). WAG reserves the right to reject or accept bidder registrations at its sole discretion.
In the event a winning bidder fails to submit the signed Contract for Sale and/or earnest money deposit as specified in the terms, the winning bidder will be charged an administrative fee of $1,000.00 on the credit card provided at registration. All administrative fees are non-refundable.
A 10% Buyer’s Premium will be added to the bid price for each property to determine the final contract price. For example, if you bid $100,000, 10% ($10,000) will be added, resulting in a total contract price of $110,000.
Earnest Money Deposit:
Upon the close of the auction, successful high bidders will be required to submit the required earnest money deposit as stipulated in the Contract for Sale. The successful bidder, will have 24 hours to send the earnest money in the form of Wire Transfer or Cashier’s Check.
Real Estate Closing:
With timing being of the essence, each contract, will be a cash contract, not contingent or subject to financing, appraisal, or survey, as described in the Contract for Sale. Closing will take place no more than 30 days from the end of the auction as stipulated in the Contract for Sale. The Buyer will be responsible for all closing costs and the transaction will be conducted by the closing attorney specified in the Contract for Sale.
Bid Increments: The Bid Increments will be as follows:
Amount Up to:
WAG reserves the right to adjust bid increments as needed.
The Auction is scheduled to end at the published end time, subject to auto-extend bidding. Each time, a bid is placed with the clock showing less than 10 mins, the clock will reset to 10 minutes. In the event, the auto-extend time needs to be reduced, WAG reserves the right to adjust the auto-extend, as needed.