LAND AND LIFESTYLE PROPERTIES GROUP DBA LAND AND LIFESTYLE PROPERTIES AND AUCTION INC.

15 WEST MAIN STREET EVANSVILLE WI 53536

608-352-0824

REAL ESTATE AUCTION TERMS AND CONDITIONS

 

With 10% Buyer’s Premium

 

THE UNDERSIGNED and or registered online bidder (herein "Bidder" or "Buyer", interchangeably, whether successful in purchasing the property or not) agrees to abide by all Terms and Conditions stated herein for the real estate auction whether conducted live, online, by conference call, or in any other manner.

All Buyers are required to have a Bidder's number to bid. To obtain a number, bidders must provide a verifiable full name, address, and phone number.

All announcements made by the Auctioneer immediately before and during the auction will take precedence over all previously printed material and any prior oral statements relating to the auction of the property. The property, which is the subject of the auction, is located at W3195 49 Th St, Mauston, WI, 53948 Juneau County, WI. Lots 1 and 2 These Terms and Conditions will be attached to and become a part of the Offer to Purchase Real Estate, representing the sale's final contracted terms. All registered Bidders agree by bidding at this action to abide by the terms and conditions set forth herein:

 

Land and Lifestyle Properties Group Inc., DBA Land and Lifestyle Properties and Auction ("Auctioneer") has been appointed by

     Al Vedder, Scott Vedder, Gail Tate, Cory Holland, Thomas Moore

 

("Seller"), through a separate written Agreement to offer the Property at auction.

The Seller reserves the right to deny any person admittance to or expel anyone from the property or the auction for interference, nuisance, canvassing or solicitation.

The Seller reserves the right to add additional property or withdraw any portion or all the property being offered at the auction.

 

CONTRACTS:

The successful Bidder must sign all documents and contracts, including, without limitation, a contingency-free Offer to Purchase, as presented by the Auctioneer immediately upon conclusion of the auction. Bidder acknowledges that all documents and contracts may be subject to Court or Seller approval or ratification to become binding upon the Seller. They are, however, binding upon Bidder immediately. DEPOSITS:

Immediately upon conclusion of bidding resulting in a successful sale, the high bidder shall pay to the Auctioneer a deposit of $ 5000 PER AUCTION LOT. This deposit will be required as a wire transfer cashier's check or certified check. A personal or company check will only be accepted if auction company approves check.

 

PROPERTY CLOSING:

        Buyers must close all real property sales on or before September 23rd, 2024, unless the final recorded survey (should one be necessary) is not recorded by that time. In that case, the closing date will automatically be changed to within 15 days of the date on the recorded survey.)

Time is of the essence. The entire purchase price must be paid by cashier's check or certified bank check, attorney's escrow check or wired funds at closing. Other terms and conditions of the closing of this sale of real property shall be controlled by the terms of the Offer to Purchase to be executed by the high bidder.

 

CONDITION OF SALE:

This property is sold grossly in all cases. If a subsequent survey shows a greater or lesser number of acres or square footage, this will not affect the purchase or purchase price.

 

AGENCY AND CONDUCT OF AUCTION:

The Auctioneer is acting as an agent on behalf of the Seller only. Auctioneer may enter bids on behalf of internet or absentee buyers. The Auctioneer is not responsible for the acts of his/her agents or principals. During the bidding, the Auctioneer has the right to reject any raise that, in his opinion, is not commensurate with the value of the offering. In the event of any dispute between Bidders, the Auctioneer may determine the successful Bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale, the Auctioneer's determination of the final sale shall be conclusive.

 

RIGHTS:

All announcements made on the day of the sale take precedence over any prior written or verbal terms of sale. Buyers will acquire properties subject to the rights of all parties in possession. If any conditions contained herein are not complied with by the Buyer, Land and Lifestyle Properties Group Inc., DBA Land and Lifestyle Properties and Auction may, in addition to asserting all remedies available by law, including the right to hold defaulting Buyer liable for the purchase price, either (a) cancel the sale, retaining as liquidated damages any payment made by such Buyer, (b) resell the property at public auction; (c) take such other action as it deems necessary or appropriate. The retention of the Bidder's deposit shall not limit any rights or remedies of Land and Lifestyle Properties Group Inc., DBA Land and Lifestyle Properties and Auction or the Sellers with respect to the Buyer's default. If the property is resold, the original defaulting Buyer shall be liable for payment of any deficiency in the subsequent purchase price and all costs and expenses, the expenses of both sales, reasonable attorney fees, commissions, incidental damages and all other charges due hereunder.

         JURISDICTION:

The respective rights and obligations of the parties with respect to the Terms and Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the State of Wisconsin. By bidding at an auction, whether present in person or by agent, by written bid, or other means, the Buyer shall be deemed to have consented to the exclusive jurisdiction of the state and federal courts sitting in the State of Wisconsin. Buyer agrees that (irrespective of the location of the auction, the property, or the place of execution of this document) the venue for any state court litigation interpreting or enforcing this document or any matter relative to this auction shall be in Rock County, Wisconsin.

ADDITION TO OR WITHDRAWAL FROM SALE:

The Seller reserves the right to withdraw the property listed from sale and to group one or more properties into one or more selling lots or to subdivide them into two or more selling lots.

The Seller additionally reserves the right to cancel the auction sale at any time.

 

INSPECTIONS:

Bidders acknowledge by their participation in the auction that they have had sufficient opportunity to make an independent inspection(s) of the property prior to bidding and executing the Offer to Purchase Real Estate. Bidders acknowledge that they have had the opportunity to perform inspections and testing on the property at their own expense before the commencement of bidding. Bidders must rely solely upon the Bidder’s investigation of the property and not any information provided by the Seller, Broker, Auctioneer, or their respective agents, employees, officers, or representatives. Failure of a Bidder to be fully informed on the condition of the property will not constitute grounds for any adjustments to purchase price, right to cancel the sale, or other cause of action. Buyer agrees hereby to waive the opportunity to conduct future testing or additional inspections of the property and acknowledges that testing or inspection will not be allowed as a contingency under the Offer to Purchase.

 

REPRESENTATIONS:

All information provided to Buyers was obtained from sources believed to be reliable and is believed to be correct. However, the Auctioneer, Broker, and Seller do not make any representations or warranties as to the accuracy or completeness of any information provided. The bidder hereby represents warrants and agrees that the bidder has not relied upon any information regarding the property, including, without limitation, advertising materials, employees, officers, or representatives.

 

REAL ESTATE BUYER'S AGENTS:

Real estate agents who register as buyer's agents will qualify for a 2    % commission, calculated on the successful Bidder's high bid. The agent's properly registered Buyer must be the successful Bidder at the auction, and the Buyer must pay for and settle on the property. No agent shall be entitled to any commission on account of any sale to that agent; rather, if purchasing the property as an investment for an agent, the agent will receive an incentive fee of  0 % of the successful Bidder’s high bid. Agent must register his or her prospective Buyer on a form provided by Auctioneer with the signature of the agent and the prospective Buyer, the agent's real estate license number, identification of the property, and Agency Disclosure Statement. Buyer Broker Registration Form must be submitted to Auctioneer by August 5^th by 12:00 pm prior to bidding. Agents must accompany their Buyers to the auction if the auction is live.

TITLE INSURANCE:

The property shall be sold with a Title Insurance Policy issued at Seller's cost.

 

FINANCING:

If a bidder is financing, proof of financial capability must be submitted 7 days prior to the end of the auction. The property is not being offered subject to financing. The Offer to Purchase executed by the high bidder shall not contain a financing contingency.

ENVIRONMENTAL DISCLAIMER:

The Auctioneer, Broker and/or Seller make no warranties with respect to the existence or nonexistence of any pollutants, contaminates or hazardous waste prohibited by federal, state or local law. Buyer hereby represents that it has made its own environmental audit or examination of the premises and accepts the property in its current condition, as is.

ADDENDA:

The following addenda are attached, hereto and incorporated by reference as if fully set forth herein:

AUCTIONEER IS NOT RESPONSIBLE FOR ANY MISTAKES MADE IN AUCTION ADVERTISEMENTS

DAY OF SALE ANNOUNCEMENTS TAKE PRECEDENCE OVER ALL OTHER ADVERTISING PROPERTY SOLD "AS IS WHERE IS" WITH ALL FAULTS & NO WARRANTEE OTHER THAN CLEAR TITLE DEED

 \

 

Addenda to Terms & Conditions Relating to Online Only Auction W3195 49Th St, Mauston, WI, Starts ending Aug 21, 2024 6pm central.

 

 

To Register: Bidders will register, and purchase the property(s) as follows:

 Bidders:  Bidder must sign this Addenda to Terms & Conditions, Auction Terms and Conditions once bidder has registered for the online auction. Once the Addenda to Terms & Conditions and Terms and Conditions are signed by the bidder, the bidder will be approved to bid on auction. These requirements must be met to be approved to bid on the subject property.

Terms of Purchase: High Bids per lot are subject to sellers’ confirmation within 24 hours of the auction ending. The bidder is subject to a 10% “Buyer Fee” to be added to the high bid price, resulting in the final contracted price. Property is being offered and/or sold in AS-IS condition, free and clear of all liens or judgments. Seller only warrants insured title & Warranty Deed. The seller will allow the buyer to purchase GAP insurance endorsement at the Buyer’s Expense. Buyer/High Bidder will be required to pay a $5,000 nonrefundable down payment along per auction lot with a signed non-contingent Offer to Purchase, and this document and the Terms and Conditions of Auction will be made part of the Offer to Purchase Closing to take place on or before September 21st, 2024. The seller will allow the buyer(s) to purchase the property with 1031 Exchange funds at no cost to the seller. A $5,000 nonrefundable down payment per auction lot will be credited on the closing statement to be signed by the buyer(s) and the seller(s). Closings to take place at the Title Company of the Seller’s choice.

Inspections/Condition: Bidders acknowledge by their participation in the auction that they have had the opportunity to make all independent inspections of the properties prior to bidding and executing an Offer to Purchase Contract. All property sold will be sold “AI-IS WHERE IS”-WITH ALL FAULTS and no contingencies. The bidder is responsible for verifying all measurements, taxes, special assessments, property conditions, environmental issues, and all other facts or statements regarding real property. Bidders have the opportunity for inspections if they see fit prior to auction at their own time and expense; the inspection results and/or reports are for the bidder’s information only and shall not be shared with any other parties. Buyer waives the right to receive a Real Estate Condition Report and/or Vacant Land Disclosure. THE PROPERTY, INCLUDING IT’S SOILS AND GROUND WATERS AND ALL IT'S BUILDINGS AND OTHER IMPROVEMENTS, IS SOLD IN IT'S PRESENT CONDITION AS-IS, WITHOUT ANY REPRESENTATION OR WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. BUYER HEREBY FOREVER AND IRREVOCABLY RELEASES ANY AND ALL CLAIMS AGAINST SELLER, AUCTIONEER(S), AND BROKER(S) RELATED TO THE PROPERTY, INCLUDING WITHOUT LIMITATION ANY CLAIMS BASED ON ANY ENVIRONMENTAL LAW.