Commercial Real Estate Online Only Auction

November 30, 2022, Real Estate Auction Buyers Terms

• The terms and conditions of the auction sale and purchase of the Property shall be governed by the Purchase and Sale Agreement which is attached hereto and made a part hereof. The high bidder at the auction (“Buyer”) will be required to sign the Purchase and Sale Agreement immediately upon the conclusion of the auction.
• FEES: Buyer will pay all closing costs and associated fees.
• EARNEST MONEY DEPOSIT: An earnest money deposit equal to ten (10%) of the purchase price is due and payable within three business days after the conclusion of the auction. The earnest money deposit will be deposited in Henderson Auction’s non-interest-bearing escrow account. The 10% earnest money deposit is payable by cashier’s check. This deposit will be deducted from the Buyer’s settlement total at closing. The 10% deposit is non-refundable if the Buyer fails to close on the Property.
• VIEWING/INSPECTION: The Buyer is responsible to complete inspections/viewing prior to the close of the auction.
• “AS IS, WHERE IS”: The Buyer is purchasing this Property “as is, where is” with no warranties expressed or implied for habitation or development, or fitness for any other purpose.
• POSSESSION: Possession of the Property will be provided to Buyer at closing.
• SURVEY/PROPERTY MAPS/TAXES: The Seller will provide property maps and aerial photos as available.
• REAL ESTATE TAXES: All real estate taxes shall be pro-rated from the auction close.
• CLOSING: Closing under the Purchase and Sale Agreement shall be on a date no later than forty-five (45) days after delivery of insurable title to Buyer. Buyer to pay attorney fees and closing costs. Property is being sold absolute and without reserve.
• BUYER’S PREMIUM: 10% Buyer’s premium shall be added to the high bid which will establish the final contract sales price.
• Preview by appointment.
• General Auction Site Policies: When entering any of the auction sites you do this at your own risk. Henderson Auctions is not responsible for any injuries or damage to Property that occurs at the auction site. The Property is sold “as-is/ where-is”, with No Guarantees or Warranties.
• In the event of default by Buyer, Henderson shall offer the Property for sale to the non-winning bidders, in the order of their final bids from highest to lowest (“default process”).
• Real Estate Agent: Ty Gose, SIOR, CCIM 225-247-3770, [email protected] or Michael Cashio, CCIM [email protected]
• Selling “Subject to Owner Confirmation”, the high bidder will be notified within 6 hours of the auction closing if the high bid is accepted.