Real Estate Auction Terms:

· LOCATION AND TIME OF SALE:  The auction will be held on site at 620 Hillcrest Avenue, Gainesville, GA 30501 at 11:00 am.   Directions are: From Gainesville Central Bus. District, go to Green St., Make left on Ridgewood, Left on Northside, Right on Hillcrest, House on Right (see sign).  Please arrive 30 minutes early to register to bid.  

· OPEN FOR INSPECTION:  The house will be available for inspection on August 20th between 1-2pm & 6-7pm.

· OFFERING:  This Auction is open to the public without regard to race, color, religion, sex familial status, national origin, or physical handicap.  All bidders must register prior to the auction.  The auction is being sold “As is, where is” basis without guarantee.  We encourage you to fully inspect all aspects of the property prior to the auction day.  Information provided by the Seller and or Auctioneer are believed to be correct but not warranted, either expressed or implied. It is the obligation of the purchaser and or purchasers agent to verify any and all items related to the property.   The property will be conveyed by limited warranty deed.  This is a CASH SALE with Five Thousand Dollars($5,000.00) down payment due on the day of the Auction.  The balance due at Closing.  This sale is not conditioned up purchaser’s ability to obtain financing.

· Down Payment: The high bidder will be required to deposit $5,000.00 in escrow of the broker as follows: certified funds of $5,000.

· RESERVE: This real estate is being sold with reserve unless stated otherwise.  If the final bid does not meet the reserve price, then the seller may elect to confirm the bid once it is made.

· BROKER PARTICIPATION:  We encourage buyer broker participation provided the following conditions are met: 1. Participating Brokers must register their client 48 hours prior to the auction.  2. Participating Brokers must be present with their client the day of the auction.  If the conditions are met, Buyer Brokers shall receive 2% commission of the High Bid (bid price before buyers premium). The property must be successfully closed by the registered client and this 2% commission will be paid at closing.

· SURVEY: A survey has not been made for this auction.  Should the purchaser require a survey, it shall be at the sole expense of the purchaser.

· A 10% BUYER’S PREMIUM WILL BE ADDED TO THE WINNING BIDS TO DETERMINE THE TOTAL PURCHASE PRICE.

· CLOSING:  Closing shall be conducted 30 days from the auction day.  Closing shall take place within a reasonable distance from auction location.  Attorney fees shall be the responsibility of the purchaser.  Taxes will be prorated to the day of closing.

· DISCLOSURE:  The Auctioneer/ Broker is acting as agent for the Seller.  All information provided shall be deemed transactional and in no way constitute an agency relationship with the purchaser. Troy Meek of Troy Meek Auction Company, as Auctioneer. GA Auctioneer’s License AU003579 & GA Real Estate License # 220073.

· ANNOUNCEMENTS:  All announcements made the day of the auction supersede any prior printed material and shall control.  The auctioneer has full control as to the increments of bidding and dispute resolution that may arise during the auction.