TERMS & CONDITIONS OF AUCTION
By the act of placing a bid for the purchase of any merchandise, goods, personal or real property, the undersigned bidder (“Bidder”) represents and warrants to Elsenpeter Auctions and Real Estate, Inc, d/b/a Post-A-Bid, and the sellers it represents (“Auctioneers”), that the Bidder agrees to the following terms and conditions of this auction and sale:
Payment. Any property purchased at this auction, in person, online, or by designee, will be paid for in full on sale day prior to removal. Payment must be made in cash, credit card, and cashier’s check. Business and personal checks may be accepted at the discretion of the Auctioneers, and Bidder may be required to supply additional information. Auctioneers may elect ot have Bidder leave items as collateral pending check clearance, and in that event, the Bidder is still responsible for items left as collateral. Any Bidder paying by check will not stop payment for any reason on the check. If a check is returned for any reason by the Bidder’s bank the Bidder will pay $35.00 as a returned check fee, and will be liable for any additional damages as authorized by law. Bidder will also pay the Auctioneers reasonable attorneys’ fees and expenses incurred in any collection efforts or defense of claims. In the event that Bidder has taken items without payment, Bidder authorizes the Auctioneer access to their property to repossess the items. Payment by credit card is for items purchased “as is,” with no recourse, or hold on credit card payment.
Buyers Premium. A buyer’s premium is charged on all auctions and the bidder agrees to pay the buyer’s premium. The buyer’s premium is announced at the beginning of the auction and is posted for each auction. In the event that it is not posted, or announced, the minimum buyer’s premium charged is 13% plus any additional handling fees, packing and shipping costs. A discount of 3% is given for cash, accepted check and cashier’s check. No discount is given for credit card purchases.
No Warranty/Condition of Property/As Is. All property is sold “as is” and “where is” without any guarantee or warranty of any kind. Bidder relies solely on its own inspections of the property and voluntarily accepts the property in the condition and location that exists at th time of the sale with all known or unknown faults, including latent or hidden defects. All descriptions, measurements, and condition statements made in print or verbally by any members of the auction staff are approximate only. No price adjustments will be made. Bidder assumes all risk if the property is not in an acceptable condition if Bidder fails to inspect or conduct due diligence of the property. Pictures, descriptions, age, year and condition statements are only for general advertising and sale purposes. Potential Bidders have inspected all property prior to bidding.
Disputes. In the event of a dispute between Bidders, the Auctioneer shall designate the successful Bidder and the ultimate sales price. As an accepted practice, the bid recognized by the Auctioneer takes precedence over those identified by ring people or potential Bidders. If agreed to by the Auctioneer’s top Bidder, the property may be resold.
Bidder’s Responsibility for Loss. Auctions by nature are fast moving, exciting, and at times overwhelming. It is the top Bidder’s responsibility to secure the items they have successfully bid on. Once the Auctioneer announces “sold” or indicates the winner of an individual item, responsibility for damage, theft or loss becomes that of the top Bidder. Items left at the site of the auction are the sole responsibility of the Bidder. The auctioneer, Auction Company or any of their employees or agents will not accept responsibility for these items, even if the items are left. As a courtesy, the Auctioneer may allow for later pickup if desired but if any items are lost, stolen, damages or misplaced, the Bidder will still be responsible for payment of those items, even if payment and final checkout has not been made. The Bidder waives any claim of bailment or that the Auctioneer is responsible for the safekeeping of items purchased. PLEASE PROTECT YOUR ITEMS FROM THEFT! If you see theft taking place, notify the auction staff and call the police!
Absentee Bids/Online Bids. Online and absentee bidding will follow the same rules as live bidding. In the event of technical problems with online bidding, online Bidders will hold the Auctioneer harmless of loss.
Waiver of Liability. In consideration of the right to bid and participate in this auction, the Bidder assumes all risk of personal injury or property damages that may occur to Bidder, Bidder’s family, and those associated with the Bidder. The Bidder agrees to indemnify and hold the auctioneers and auction company harmless from any and all liability and cause of action claims of any kind or nature that may arise out of or in connection with inspection of the property, participation in the auction, or damage caused by Bidder.
Agency. The Auctioneer is an agent for the seller only.
Bid Rigging. Bid rigging is a felony. It is against federal law to combine, contract or conspire with any person to rig any bid or aspect of the bidding process. The Bidder may not contract or conspire with any bidders to unfairly manipulate the bidding process. In the event that the Auctioneer feels that bid rigging is taking place, the Auctioneer may cancel the sale of the item, cancel the sale of the previous items, remove the suspected bidders and turn over any evidence to the proper authorities for prosecution.
Real Property Sales. In the event the property includes real property, potential Bidders must have made their own inspection and agrees to additional terms as announced or printed. Once the real property has been sold and the Bidder has been declared as the winner, the high Bidder will follow the Auctioneers instructions to when and where the signing of the contract will take place. The Bidder will immediately sign the contract and deliver the non-refundable earnest money. By bidding, the Buyer agrees to have performed their own due diligence in advance and ahs reviewed the title commitment and contract to the degree they desire. Bidder agrees that no alterations will be made to the contract. A buyer’s premium will be added to the high bid price. When added, this becomes the contract sales price. If not advertised or announced, the minimum buyer’s premium for real property is 10%.
Titles and Bills of Sale. Because of the nature of the auction business, titles to vehicles are not always available at the time of auction. Providing acceptable motor vehicle titles and equipment bills of sale is the obligation of the Seller. The Auctioneer is an agent of the seller and is not responsible for providing the appropriate documents responsible for any delay or title deficiencies. The Bidder shall sign a disclosure statement for all motor vehicles at the time of payment. The seller shall have 30 days to deliver all documents to the Bidder. The Bidder’s name as signed on this form will be the name put on the title. Bidder must inform the cashier at the time of checkout if a different name should appear. This must take place on sale day.
Sales Tax. Sales tax must be charged on all purchases. The Auctioneer will collect state, county and local taxes. Vehicles will not be taxed as the Auctioneer is not a dealer. Bidders will pay the taxes when registering the vehicle. If the Buyer is a “dealer,” the Buyer must sign the appropriate exempt forms and provide a copy of its sales tax license. If a sales tax license is not supplied on sale day, the Buyer has until the first business day at noon to supply the sales tax license. No adjustments will be made after this time. The Bidder must also state that it is in the business of resale and that the items being bought are tax exempt and will be resold. Tax exemptions for agricultural equipment will also be adjusted once the sales tax exempt form has been signed.
Damages/Attorneys’ Fees and Costs. In the event Auctioneer must enforce the terms and conditions of this bid contract, including but not limited to collection of amounts due or defense of claims brought by the Bidder, then the Bidder agrees to pay Auctioneer’s damages, costs and expenses, including reasonable attorneys’ fees and costs, incurred by the Auctioneer. The Bidder shall pay interest of 18% per annum on all amounts due.
Data Collected. Auctioneer understands that personal data is collected and will use its best efforts to keep this data confidential. Auctioneer will use this data only for advertising and marketing purposes, and to settle outstanding accounting and legal matters. By giving Auctioneer this information, the Bidder agrees to allow the Auctioneer to send advertising by mail, fax, e-mail, as well as contact by telephone. Bidder must inform Auctioneer in writing if Bidder does not wish to receive this type of information. Auctioneer values Bidder’s confidence in them and will not sell information collected. Auctioneer is not responsible for theft or loss of these identification items.
Disposal. Auctioneer strives to be “green.” By nature, many items auctions sell can be considered recyclable. Certain items deemed hazardous may have additional disposal fees such as televisions, electronics, paints, garden chemicals and appliances. If Bidder purchases any of these items which may be contained in larger “box lots” or end of the sale “deals.” Bidder agrees to take everything purchased. Bidder is prohibited from leaving any items after the sale. The reason Bidder purchased these box lots or sale deals much cheaper is because Bidder has agreed to take everything. Bidder agrees if the purchased items are left behind or abandoned, these items may be resold or disposed of after 24 hours of the conclusion of the auction, and hauling expenses, clean-up fees, commissions and dump fees will be assessed. Bidder agrees to pay all assessed charges and expenses within 24 hours of assessment.
Additional Terms and Conditions. In addition to the above terms and conditions, the provisions of any advertisement, brochure, disclosure statement, contract, internet site information and attachments shall also apply.