Our contracts are flexible, but will often look something like the following:
UNRESERVED: The seller has agreed to accept the highest bid regardless of price. The Property will sell to the highest bidder without minimum or reserve.
NO WARRANTY: The Buyer shall accept the Property as-is where-is and expressly agrees that neither the Seller, Auctioneer or Realtor makes any representations or warranties of any kind as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon.
It is the responsibility of all bidders to review all information provided. Bidders shall have satisfied their descriptions, location, and condition before bidding. If you need clarification, it is the bidder’s responsibility to obtain clarification from Real Estate Brokerage.
GST: The bid price does not include any applicable GST unless announced otherwise by the auctioneer.
DEPOSIT: Immediately at the close of bidding, the successful bidder will make a NON-REFUNDABLE deposit payable to the real estate brokerage (as listed in the Property Information Package) in the form of a bank draft or other approved payment. The amount is listed in Property Info Package/or as announced by the auctioneer.
PURCHASE CONTRACT: The Real Estate Purchase Contract that applies to each Property will be available for inspection before the auction. Title(s) will be clear of encumbrances except those to remain on the title. All bidders agree that, should their bid be accepted, they will complete and be bound by the terms of the purchase contract. Buyers will pay the balance of the purchase price to their lawyer on or before Completion Day. Possession will be by the terms of the Purchase Contracts. Note: These contracts will not be subject to any buyer’s conditions