This is your opportunity to own a water-access lot in Blue Water Subdivision. The lot is 0.92 acres, and has frontage and access along South Blue Water Drive in Mineral, VA (Louisa County).
Bluewater HOA Dues are $300/year and the current tax assessment is $28,600.
The sale will end on January 27, 2021 at 11 am. It is an online-only sale. You may participate, once approved, via your web browser or our mobile bidding app.
The property sells as-is, subject to any and all easements and encroachments recorded or unrecorded. Interested buyers are encouraged to perform any and all due diligence prior to the close of the auction.
A 10% buyer premium is added to the high bid for the final consideration. The high bidder shall make a non-refundable* deposit via wire or certified check within 24 hours of the auction closing in the amount of $4,000. The balance is due within 60 days.
*Seller guarantees clear title via General Warranty Deed. If the seller is unable to provide clear title within the 60-day period, the buyer's deposit shall be refunded in full.
SPECIAL NOTE: Per the Bluewater HOA By-Laws, the adjacent landowners (i.e.- owner to the right, owner to the left) and the Homeowner's Association have first right of refusal to purchase this lot. There is an affidavit that must be fulfilled and included in the deed recorded at the courthouse. The auction will be conducted to establish the high bid and collect a deposit and sign contract pursuant signed affidavit that no parties wish to exercise any first rights of refusal to purchase at the established terms.
These Bidder Terms and Conditions apply to auctions conducted by For Sale At Auction ("Auctioneer"), and
constitute a legal, valid, binding, and enforceable contract between Auctioneer and each Participant, Bidder, and Buyer. These
bidder terms and conditions also form the basis for the contract of sale between the Seller and the Buyer.
1. Auction Conducted Under and In Accordance with These Bidder Terms and Conditions, Additional Terms
and Conditions Posted by Auctioneer, and Announcements Made at the Time of the Auction, and Applicable Law.
The Auction is conducted under and in accordance with these Bidder Terms and Conditions, any and all other Terms and
Conditions posted by Auctioneer (whether at the Auction Site or online), any announcements or corrections made by
Auctioneer at the time of the Auction, and applicable law. By participating in the Auction, whether at the auction site, online,
telephonically, or though any other means (including Absentee Bid), each Participant agrees to be bound by, and to abide by,
all such Bidder Terms and Conditions.
2. Definitions. The following definitions apply to these Bidder Terms and Conditions for each auction conducted by
Auctioneer:
“Absentee Bid” means a bid submitted to Auctioneer in advance by an Absentee Bidder for the execution during the
Auction under terms established by Auctioneer.
“Absentee Bidder” means a person or entity that submits an Absentee Bid. An absentee Bidder may or may not be
present at the Auction.
“Absolute Auction” or “Absolute” applies only if and when expressly indicated and means that property is sold to the
highest bidder regardless of the amount of the final bid, with no limiting conditions, restrictions, or reservations. This type of
auction is also known as an auction Without Reserve. Provided that a bid is received within a reasonable time after property
is put up at Absolute Auction, the property will be sold to the highest bidder regardless of the final bid amount. Property put
up at Absolute Auction may be withdrawn by Auctioneer if a bid is not received within a reasonable time. UNLESS
SPECIFICALLY AND EXPRESSLY STATED BY AUCTIONEER IN WRITING, NO PROPERTY IS BEING SOLD ABSOLUTE
OR WITHOUT RESERVE.
“Attendee” means any person who attends the Auction at the Auction Site, whether such person is a Registered
Bidder or not.
“Auction” means the auction sale at which Auctioneer solicits bids, or is scheduled to solicit bids.
“Auction Site” means the physical location of the Auction, or, for an Auction conducted entirely online, the location
where Property may be inspected and where a Buyer may pick up Personal Property.
“Bidder” means any person or entity that makes a bid at the Auction.
“Bidder Number” means the number or other identifier issued by Auctioneer to a Registered Bidder for the purposes
of identifying bids to such Registered Bidder.
“Bidder Registration” means the information provided by a prospective Bidder, and the process of registering such
prospective Bidder to bid at the Auction, including the prospective Bidder’s agreement to be bound by these Bidder Terms
and Conditions.
“Bidder Terms and Conditions” means these Bidder Terms and Conditions.
“Broker Participation Fee” means an amount that is paid to a broker who has participated in procuring a Buyer, or
has otherwise assisted in facilitating the sale of Property at the Auction, under the terms and conditions and in the amount
established by Auctioneer.
"Buyer" means the Winning Bidder with respect to each Lot of Personal Property or of each parcel of Real Property,
as the case may be.
"Buyer's Premium" is an amount with respect to each Lot of Personal Property or with respect to each parcel of Real
Property, calculated as a percentage of the Hammer Price, that is payable by the Buyer to Auctioneer for Auctioneer's own
account. For offered Subject to Seller’s Confirmation, the Buyer’s Premium will be calculated on the amount of the High Bid
Subject to Confirmation.
“Commission” means the amount payable by or on behalf of Seller to Auctioneer for Auctioneer’s services,
calculated as a percentage of the Hammer Price.
“Fall of the Hammer” means the point, after bids have been received, at which Auctioneer declares a Lot of Personal
Property or Real Property “sold” to the Bidder acknowledged by Auctioneer as having made the Winning Bid. During an
auction that is exclusively online, the Fall of the Hammer may occur electronically at the end of timed (or extended) bidding.
In an auction that is Subject to Seller’s Confirmation, the Fall of the Hammer will occur on Seller’s Confirmation of the High
Bid Subject to Confirmation.
“Hammer Price” means the high bid amount recognized by Auctioneer with the Fall of the Hammer.
“High Bid” means the high bid amount recognized by Auctioneer at the conclusion of bidding on a Lot or on a parc el
of Real Property, as the case may be.
“High Bid Subject to Confirmation” means the High Bid amount recognized by Auctioneer at the conclusion of
bidding on Real Property put up at Auction Subject to Seller’s Confirmation. If the High Bid Subject to Confirmation is
confirmed by Seller, it will be the Hammer Price.
“High Bidder” means the Bidder recognized by Auctioneer as having made the High Bid with respect to a Lot or a
parcel of Real Property.
"Knocked Down" or "Knock Down" means, with respect to any Property put up at the Auction, that Auctioneer has
acknowledged the Winning Bid with the Fall of the Hammer, or by announcing "sold", or by giving a similar such indication.
Property may be Knocked Down electronically at the conclusion of a timed online auction event. (Also, "Struck Off" or
"Strikes Off").
“Lot” means each individual item or grouping of Personal Property offered at one time by Auctioneer.
“No Sale” occurs if Property is put up at the Auction but is not Struck Off or sold, and Auctioneer passes on such
Property or declares a No Sale.
“Online Auction Platform” means the hardware and software utilized to conduct the Auction online and to facilitate
online bidding, including any associated, adjunct, and/or complementary websites, services, premiums and promotions.
“Online Auction Platform Provider” means the provider of the Online Auction Platform and related services.
"Online Bidding Period" means, with respect to an Auction conducted in whole or in part online, any established
period during which online bids may be tendered.
“Participant” means any person who attends, or otherwise participates in, the Auction (in person or remotely). The
term Participant includes, but is not limited to, Attendees, Registered Bidders, Bidders, and Buyers.
“Personal Property” means the tangible and moveable property, and any intangible property (including, without
limitation, intellectual property) put up at the Auction.
“Private Sale” means an event in which Property is sold by Seller, or on Seller’s behalf, other than at the Auction
(including a sale at an auction conducted by a person or entity other than Auctioneer).
“Private Sale Price” means the fair market purchase price of the Property paid, or agreed to, at a Private Sale in an
arms-length transaction between Seller and the purchaser of the Property. If the Property is sold through a Private Sale for
less than its fair market value, or in a transaction that is not an arms-length transaction, or is gifted by Seller, the Private Sale
Price will be an amount equal to the fair market value of the Property in an arms-length transaction.
“Property” means the Real Property and the Personal Property.
“Purchase Price” means an amount equal to the Hammer Price or High Bid Subject to Confirmation, as the case may
be, plus the Buyer’s Premium.
“Real Property” means
The real property located at: Lot 13, South Bluewater Boulevard; Mineral, VA; Louisa County
Property identification number (if available): 16B-1-13
The separately deeded parcels of real property identified on an attachment to these Bidder Terms and
Conditions.
“Realty Closing” means the settlement on the sale of the Real Property at which Seller sells, transfers, assigns, and
conveys Seller’s right, title, and interest in the Real Property to the Buyer, and the Buyer pays the Purchase Price for the Real
Property.
“Realty Closing Date” means the date on which the Realty Closing occurs.
“Realty Deposit” is the good faith deposit made by the Buyer against the Purchase Price for the Real Property.
“Realty Purchase and Sale Agreement” means the contract for the purchase and sale of Real Property put up at the
Auction executed at the close of bidding by the Winning Bidder, or the Bidder making the High Bid Subject to Confirmation, as
the case may be. In an Auction Subject to Seller’s Confirmation, Seller will execute the Realty Purchase and Sale Agreement
only on Seller’s confirmation, approval, and acceptance of the High Bid Subject to Confirmation.
"Registered Bidder" means a person or entity that has registered to bid at the Auction.
“Registration Deposit” means, if required by Auctioneer, the deposit made by a Registered Bidder in order to register
for the Auction. Auctioneer may require that the Registration Deposit be made in certified funds or in such other form as
determined by Auctioneer in Auctioneer’s discretion.
“Reserve” or “With Reserve” means that property put up at auction may be withdrawn by the Auctioneer and/or bids
may be rejected by Auctioneer prior to the Fall of the Hammer. UNLESS SPECIFICALLY AND EXPRESSLY STATED
OTHERWISE BY AUCTIONEER IN WRITING, ALL PROPERTY IS BEING WITH RESERVE.
“Reserve Price” means the minimum price that Seller is willing to accept for specific Property. If Property put up
With Reserve is subject to a Reserve Price, such property will not be Struck Off unless the Reserve Price is met or waived.
“Seller’s Confirmation” means Seller’s confirmation, approval, and acceptance of the High Bid Subject to
Confirmation acknowledged and recorded by Auctioneer.
"Struck Off" or "Strikes Off" means, with respect to any Property put up at the Auction, that Auctioneer has
acknowledged the Winning Bid with the Fall of the Hammer, or by announcing "sold", or by giving a similar such indication.
Property may be Struck Off electronically at the conclusion of a timed online auction event. (Also, "Knocked Down" or "Knock
Down").
“Subject to Seller's Confirmation” means, with respect to any Property expressly identified in this Agreement as
being sold Subject to Seller’s Confirmation, that after the High Bid Subject to Seller’s Confirmation has been received and
acknowledged by Auctioneer, Seller may determine, in Seller's sole and absolute discretion, to (i) accept such bid or (ii) reject
such bid.
“Winning Bid” means the highest bid received and accepted (and if Subject to Seller’s Confirmation, confirmed by
Seller).
"Winning Bidder" means the Bidder who is recognized by Auctioneer as having made the Winning Bid.
“Withdrawn”, “Withdrawal”, or “Withdraw” refers to the circumstance in which the Property is removed or withdrawn
from the Auction, or in which it is determined that such Property will not be offered or sold at the Auction.
“Without Reserve” means Absolute.
3. Bidder Registration; Bidder Qualification. All persons desiring to bid at the Auction, must register to bid and be
issued a Bidder Number. In order to register to bid, each potential Bidder must provide such information (including identifying
information and qualifications) as requested by Auctioneer. Each person registering to bid represents to the Auctioneer that
such person is at least eighteen (18) years of age and is otherwise legally able to enter into a contract. Auctioneer may
refuse to accept a Bidder Registration from any potential Bidder, may refuse to issue a Bidder Number to any potential
Bidder, and may revoke any Bidder Registration or Bidder Number. Each person registering to bid, or otherwise participating,
at the Auction acknowledges and agrees that such person has read, understands, and agrees to be bound by, these Bidder
Terms and Conditions. In Auctioneer’s discretion, bids may be received from a person who has not registered to bid, and/or
who has not satisfied all requirements for Bidder Registration, and/or who has not been issued a Bidder Number, and, by
bidding, such person will be bound by these Bidder Terms and Conditions. Auctioneer may establish such Bidder
qualifications as Auctioneer determines, in Auctioneer’s discretion, are reasonably necessary or appropriate. Bidder
qualification provisions (which may include proof of the availability of funds) are intended for the benefit of Auctioneer and
Seller, and create no rights or interests in any other persons, including competing Bidders. Auctioneer and/or Seller may (but
will not be required to) waive any Bidder qualifications, either globally or on a case by case basis.
4. Auction Conducted in the Commonwealth of Virginia. The Auction is conducted in the Commonwealth of
Virginia. All Property is offered for sale in the Commonwealth of Virginia, and will be Knocked-Down or Struck Off in the
Commonwealth of Virginia. Notwithstanding the physical location of any Participant, these Bidder Terms and Conditions are
entered into in the Commonwealth of Virginia, all bids and payments are received in the Commonwealth of Virginia, and all
contracts between Seller and Buyer (including the Realty Purchase and Sale Agreement, if any), are formed and entered into
in the Commonwealth of Virginia.
5. Buyer's Premium. All Property offered at the Auction is subject to a Buyer’s Premium, which will be paid by the
Buyer to Auctioneer for Auctioneer's own account. The Buyer's Premium will be calculated as a percentage of the Hammer
Price, and will be added to the Hammer Price to determine the final Purchase Price.
The Buyer’s Premium for Real Property will be amount equal toTEN percent (10%) of the Hammer
Price for each parcel of Real Property Struck Off at the Auction.
6. Access to Auction Site and/or Online Auction Platform. Participants assume all risks associated with their
presence at the Auction Site and/or their access to any Online Auction Platform utilized by Auctioneer. Any person may be
denied access to the Auction, the Auction Site, and any Online Auction Platform utilized by Auctioneer, and may be removed
at Auctioneer’s discretion.
7. Nature of the Auction.
The Auction for the Real Property will be With Reserve. Prior to the Fall of the Hammer, Auctioneer may
Withdraw the Real Property, or any of it, from the Auction.
The Real Property will be sold Subject to Seller's Confirmation. This means that after the High Bid Subject
to Confirmation has been received and acknowledged by Auctioneer, Seller may determine, in Seller's sole
and absolute discretion, to (i) accept such bid or (ii) reject such bid.
The Auction for the Personal Property will be an Absolute Auction. This means that, once a bid is made on
a Lot, the Lot will be sold to the highest Bidder.
The Auction for the Personal Property will be With Reserve. Auctioneer may Withdraw any Lot prior to the
Fall of the Hammer on such Lot.
8. Bidding. Bidders may only bid at the Auction by agreeing to be bound by these Bidder Terms and Conditions. By
bidding, each Bidder acknowledges and agrees that such Bidder is subject to, and bound by, these Bidder Terms and
Conditions.
9. No Bid Retraction. No Bidder may retract a bid that has been acknowledged by Auctioneer or that has been
submitted online. Each Bidder acknowledges and agrees that Auctioneer is acting in reliance on tendered bids in the conduct
of the Auction, and that bid retraction is disruptive and interferes with the Auction, and that, as an inducement for Auctioneer
to accept such Bidder’s Bidder Registration and for such Bidder to bid at the Auction, each Bidder agrees not to withdraw or
to attempt to withdraw any tendered bid.
10. Online Auction. The following terms and conditions apply if the Auction is conducted, in whole or in part, online:
10.1. Online Bidding Registration. Anyone desiring to bid online, or to establish the possibility of bidding
online, will be required to create an online bidding account by completing all necessary forms and providing required
information.
10.2. Bidder Terms and Conditions; Notices and Announcements. The Auction will be conducted in
accordance with these Bidder Terms and Conditions and any notices or announcements by Auctioneer and/or posted online
or onsite.
10.3. Posted Times. All times are based on the Eastern Standard Time zone unless stated otherwise. Posted
closing times and time displays are approximate. Auctioneer reserves the right to close early or extend the Auction at
Auctioneer’s sole and absolute discretion.
10.4. Online Bidding Increments. Auctioneer may establish bid increments, and may modify or change bid
increments, in Auctioneer's sole and absolute discretion.
10.5. Records of Online Activity. Absent clerical errors, Auctioneer’s records will be final and conclusive.
10.6. Technology Disruptions. Auctioneer will not be responsible for technology disruptions, errors, or failures
(including disruptions to bidding or the failure to execute, recognize, or record online bids), whether caused by (i) loss of
connectivity, breakdown, disruption, or failure of the Online Auction Platform, (ii) breakdown, disruption, or failure of a Bidder's
internet connection, computer, or system, or (iii) otherwise. Auctioneer may, but will not be required to, continue, suspend,
delay, extend, reschedule, or close the Auction because of disruptions caused by technology failures, even after bidding has
commenced.
10.7. Failures by Online Auction Platform Provider and its Affiliates or Contractors. Auctioneer may use an
Online Auction Platform Provider to facilitate the Auction. Under no circumstances will Auctioneer be liable for any failure of
the Online Auction Platform Provider to perform all or any of its obligations, or for the failure of any affiliates, employees,
agents, representatives, or contractors of the Online Auction Platform Provider to perform their obligations.
10.8. Auto Extend Feature. Any Online Bidding Period may include an auto extend feature. This means that, if
an online bid is entered within a set time period approaching the end of the established Online Bidding Period, the Online
Bidding Period will automatically be extended for an additional amount of time in increments established by Auctioneer, and
will continue to be so extended until there is a set period of time that lapses during which no online bids are received, after
which bidding will close.
10.9. Disclaimer. Auctioneer makes no representations or warranties, and disclaims all representations and
warranties, (i) that the Online Auction Platform or any related website or technology will be uninterrupted, error free or virus
free, (ii) as to the results that may be obtained by using the Online Auction Platform or any related website or technology, or
(iii) as to the accuracy, completeness, reliability, security, or current nature of the Online Auction Platform or any related
technology.
10.10. Responsibility for Online Bids. Each Registered Bidder is responsible for all bids transmitted from such
Registered Bidder’s computer or from such Registered Bidder’s account for the Online Auction Platform. If a Winning Bid is
sent from the computer of a Registered Bidder, or from a Registered Bidder’s account for the Online Auction Platform, such
Registered Bidder will be the Buyer.
10.11. No Reduction or Retraction of Online Bids. Except in extraordinary circumstances and in Auctioneer’s
sole and absolute discretion, online bids may not be reduced or retracted.
10.12. Competing Online and Onsite Bids. In the event of contemporaneously made online and onsite bids,
Auctioneer will determine which bid is the successful bid, and may, in Auctioneer’s discretion, reopen the bidding.
10.13. Winning Bidders Subject to Certification by Auctioneer. The final determination of the Winning Bidder
is subject to certification by Auctioneer; and any email or electronic message (whether generated manually or automatically)
is subject to such certification.
11. Absentee Bids; Remote Bidding. In Auctioneer’s discretion, Auctioneer may receive Absentee Bids and/or bids
tendered by remote Bidders (whether telephonically or otherwise). Absentee Bids may be initiated and advanced in
accordance with Auctioneer’s policies and procedures. Auctioneer will make reasonable efforts to execute Absentee Bids,
but Auctioneer will have no liability to any Absentee Bidder for the failure to execute any Absentee Bids for any reason
whatsoever. Each Absentee Bidder acknowledges and agrees that Property may be sold to another Bidder for the maximum
amount of the Absentee Bid based on a bidding sequence that causes another Bidder to reach the such amount first. If the
execution of an Absentee Bid at its maximum amount would require Auctioneer to accept a bid that is less than a full bidding
increment, Auctioneer has the sole and absolute discretion to acknowledge or reject such bid. An Absentee Bidder may
authorize Auctioneer to advance the bid by one or more bidding increments after the maximum amount of the Absentee Bid
is, or would be, reached. Auctioneer acts as the agent of the Seller only, and the receipt and/or execution of Absentee Bids
will not create an agency relationship between Auctioneer and any Absentee Bidder.
12. Bid Increments. Bid increments are established and controlled by Auctioneer, and may be adjusted or modified in
Auctioneer’s sole and absolute discretion.
13. Registered Bidders Responsible for Bids Placed on Bidder Number. Each Registered Bidder is responsible for
the Bidder Number issued to such Registered Bidder. Auctioneer is not responsible for monitoring or policing the use of
Bidder Numbers, and each Registered Bidder is responsible for all bids made on the Bidder Number issued to such
Registered Bidder even if the Registered Bidder claims that the Bidder Number was lost, stolen, or misappropriated, unless
notice of a lost, stolen, or misappropriated Bidder Number was provided to Auctioneer prior to an unauthorized bid being
made. Absent a clerical error, Auctioneer’s records will be conclusive.
14. Withdrawal of Property by Auctioneer. Unless specific Property is, in express written terms, put up at Absolute
Auction, Auctioneer has the right to withdraw any Property from the Auction prior to the Fall of the Hammer.
15. Winning Bid; Buyer. Pursuant to these Bidder Terms and Conditions, the Bidder making the Winning Bid for any
Lot or item of Personal Property or each parcel of Real Property, as the case may be, will be the Buyer of such Property.
16. All Property Sold “AS IS”, “WHERE IS”, and “WITH ALL FAULTS”. ALL PROPERTY IS BEING OFFERED AND
SOLD IN ITS AS IS/WHERE IS CONDITION AT THE TIME OF THE AUCTION, WITH ALL FAULTS, INCLUDING ANY
HIDDEN DEFECTS OF ANY NATURE. NEITHER AUCTIONEER NOR SELLER MAKES ANY REPRESENTATIONS,
WARRANTIES, OR GUARANTEES WHATSOEVER, EXPRESS OR IMPLIED, REGARDING THE NATURE, VALUE,
SOURCE, AUTHENTICITY, FITNESS, MERCHANTABILITY, AND/OR ANY OTHER ASPECT OR CHARACTERISTICS OF
SUCH PROPERTY. NO STATEMENT ANYWHERE, WHETHER EXPRESS OR IMPLIED, INCLUDING VERBAL
STATEMENTS MADE BY AUCTIONEER, WILL BE DEEMED A WARRANTY OR REPRESENTATION BY AUCTIONEER OR
SELLER. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THERE ARE NO WARRANTIES OF TITLE,
NON-INFRINGEMENT, AUTHENTICITY, ORIGIN, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, ALL
OF WHICH ARE EXPRESSLY DISCLAIMED. EACH BIDDER ACKNOWLEDGES AND AGREES THAT SUCH BIDDER
CANNOT RELY, AND HAS NOT RELIED, ON ANY REPRESENTATION, WARRANTY, OR GUARANTY MADE BY THE
SELLER OR ANYONE ACTING AS AGENT OF THE SELLER, ORALLY OR IN WRITING, ABOUT THE PROPERTY, OR
ANY OF IT. BY BIDDING, EACH BIDDER ACKNOWLEDGES AND AGREES THAT SUCH BIDDER HAS HAD A FULL AND
FAIR OPPORTUNITY TO INSPECT THE PROPERTY, AND IS RELYING SOLELY ON, OR HAS WAIVED, SUCH BIDDER’S
INSPECTION AND INVESTIGATION (i) IN DETERMINING WHETHER TO BID, (ii) IN DETERMINING THE AMOUNT OF A
BID, AND (iii) IN BIDDING.
17. Announcements. Subject to the limitation set forth in these Bidder Terms and Conditions, all terms and conditions
and other announcements made by Auctioneer on the day of the Auction are binding and take precedence over any
advertisements or listings.
18. Bidder’s Inspection. By bidding, each Bidder acknowledges and agrees that such Bidder has had a full and fair
opportunity to inspect the Property, and is relying solely on, or has waived, such Bidder’s inspection and investigation (i) in
determining whether to bid, (ii) in determining the amount of a bid, and (iii) in bidding.
19. Description of Property. Unless otherwise expressly stated otherwise in writing, any description of Property is
based solely on visual impression, and is given solely for identification purposes, and does not create any warranty,
expressed or implied, or representation by Auctioneer.
20. Contract of Sale for Personal Property. By operation of these Terms and Conditions and Section 2-328(b) of the
Uniform Commercial Code, no additional or further writing will be required to evidence the existence of a contract of sale for
any Personal Property Knocked-Down at the Auction regardless of the Purchase Price, and these Bidder Terms and
Conditions, together with Auctioneer’s clerking sheets or other physical or digital notation identifying the Lot, the Hammer
Price, and the Buyer, will be conclusive evidence as to the terms of the sale. These Bidder Terms and Conditions will be
incorporated into and made a part of the contract between each Buyer and Seller.
21. Sale of the Real Property. The following terms and conditions apply if Real Property is offered at the Auction:
21.1. Bidder Qualification. Auctioneer may impose qualifications for bidding on the Real Property. Any such
qualifications, which may include, without being limited to, proof of the availability of funds, will be posted or otherwise made
available by Auctioneer. Bidder qualification provisions (which may include proof of the availability of funds) are intended for
the benefit of Auctioneer and Seller, and create no rights or interests in any other persons, including competing Bidders.
Auctioneer and/or Seller may (but will not be required to) waive any Bidder qualifications, either globally or on a case by case
basis.
21.2. Registration Deposit. In Auctioneer’s discretion, Auctioneer may require Bidders to make a registration
deposit in order to bid on the Real Property. The registration deposit of the Winning Bidder will be applied against the
Purchase Price for the Real Property, and registration deposits made by others will be returned at the conclusion of the
Auction.
21.3. Separately Deeded Parcels. If the Real Property consists of two or more separately deeded parcels,
Auctioneer may, in Auctioneer’s discretion, put the parcels up for bid individually, as an entire group, and by various
combinations, and the bids received by each method will be held until it is determined which method yields the highest
aggregate Purchase Price. Bidding may be conducted in multiple rounds, and in a round robin fashion, and methods or
combinations may be eliminated until the final method or grouping yielding the highest aggregate Purchase Price is
determined.
21.4. Breaks and Recesses. Auctioneer may take breaks or recesses during the bidding on the Real Property,
and such breaks or recesses will not terminate the bidding unless expressly stated. Auctioneer may suspend bidding on the
Real Property without declaring a No Sale of the Real Property. A No Sale of the Real Property will only occur if Auctioneer
declares a No Sale in those terms, or if the Auction concludes in its entirety without a Winning Bid or a High Bid Subject to
Confirmation. If announced by Auctioneer, the Auction may continue for a stated period of time, during which period
Auctioneer may receive bids in person, telephonically, electronically, online, or by other means.
21.5. Realty Purchase and Sale Agreement. The Realty Purchase and Sale Agreement will be executed at the
close of bidding by the Winning Bidder, or the Bidder making the High Bid Subject to Confirmation, as the case may be. In
auctions Subject to Seller’s Confirmation, Seller will execute the Realty Purchase and Sale Agreement on Seller’s
confirmation and acceptance of the High Bid Subject to Confirmation. The Realty Purchase and Sale Agreement is available
for review prior to the Real Property being offered, and is incorporated in and made a part of these Bidder terms and
Conditions.
21.6. Realty Deposit. The Winning Bidder, or the Bidder making the High Bid Subject to Confirmation, as the
case may be, will make a Realty Deposit on execution of the Realty Purchase and Sale Agreement. The Realty Deposit
(which will include any registration deposit made by such Bidder) will be:
The amount of FIVE THOUSAND Dollars ($5,000).
The Realty Deposit may be paid in cash or its equivalent, by certified funds, by credit card (if that service made available by
Auctioneer), or by personal or company check. The Realty Deposit will be held by Auctioneer in a non-interest bearing
account. If the Realty Deposit is forfeited by the Winning Bidder, it will be applied to the payment of Auctioneer’s
Commission, Buyer’s Premium, costs, and expenses before any distribution to Seller or otherwise.
21.7. No Buyer Contingencies. There will be no Buyer conditions or contingencies to the sale of the Real
Property, except Seller’s delivery of good and marketable title.
21.8. Realty Closing. The Realty Closing will occur at a mutually agreed time and place within
FOURTY FIVE (45) days after the Auction, unless extended with the written consent of Seller and Auctioneer.
21.9. Broker Participation. If a broker, who has registered with Auctioneer, has participated in procuring a
Buyer, or has otherwise assisted in facilitating the sale of Real Property at the Auction, such broker may be paid a Broker
Participation Fee, in an amount and manner established by Auctioneer.
21.10. Real Estate Transfer Tax. Any real estate transfer taxes will be allocated as follows:
Paid by the seller.
21.11. Recording Fees. Buyer will pay the fees for recording the deed for the Real Property.
21.12. Settlement Fees and Expenses. Buyer will pay any and all settlement fees and expenses, including,
without being limited to, title searches, title insurance charges, and survey costs.
21.13. Apportionment. Taxes and all other periodic realty costs, if any, will be apportioned pro rata as of the date
of the Realty Closing. Seller will pay for all days up to and including the date of the Realty Closing, and Purchaser will pay for
all days following the date of the Realty Closing.
21.14. Zoning; Land Use. NEITHER AUCTIONEER NOR SELLER MAKES ANY REPRESENTATIONS OR
WARRANTIES AS TO THE ZONING OF THE REAL PROPERTY OR ANY OTHER LAND USE RESTRICTIONS AFFECTING
THE REAL PROPERTY. IT IS THE RESPONSIBILITY OF EACH BIDDER TO MAKE SUCH INQUIRIES AND
INVESTIGATIONS AS MAY BE NECESSARY TO CONFIRM THE APPLICABLE ZONING AND LAND USE RESTRICTIONS
AFFECTING THE REAL PROPERTY. THE PURCHASE OF THE REAL PROPERTY WILL NOT BE CONTINGENT IN ANY
WAY ON ZONING OR LAND USE RESTRICTIONS, OR ON WHETHER A BIDDER OR BUYER MAY PUT THE REAL
PROPERTY TO ANY DESIRED USE. EACH BIDDER ACKNOWLEDGES AND AGREES THAT SUCH BIDDER IS NOT
RELYING ON ANY REPRESENTATIONS BY SELLER OR AUCTIONEER CONCERNING ZONING OR OTHER LAND USE
RESTRICTIONS AFFECTING THE REAL PROPERTY.
21.15. Seller’s Residential Real Estate Disclosure Statement. If the Real Property is residential real estate,
Seller will (unless otherwise exempt) complete a Seller’s residential real property disclosure statement.
21.16. Lead-based Paint Disclosure. If the Real Property includes residential improvements constructed prior to
1978, Seller will complete a Lead-based Paint Disclosure Statement.
21.17. Breach.
21.17.1. Seller’s Breach. If Seller breaches any of Seller’s obligations with respect to the Purchase and
Sale of the Real Property, Buyer’s sole and exclusive remedy will be return of the Realty Deposit and any other monies
actually paid by the Buyer. Under no circumstances will Auctioneer or Seller be liable for incidental or consequential
damages, including, without being limited to lost profits or reduced productivity. Specific performance is not available as a
remedy to Buyer.
21.17.2. Buyer’s Breach. If Buyer breaches any of Buyer’s obligations, Buyer will forfeit the Deposit and
any other monies actually paid to Seller or Auctioneer, and will pay all of Seller’s and Auctioneers costs and expenses
(including reasonable attorneys’ fees and costs of litigation). If the Real Property is subsequently offered for sale (at auction
or otherwise), Buyer will be responsible for any and all costs and expenses incurred with respect there to, including, without
being limited to, advertising and labor. Buyer will also be responsible for any shortfall between the Purchase Price
established at the Auction and any subsequent lower purchase price for which the Real Property may be sold.
21.18. Risk of Loss. The risk of loss or damage to the Real Property is assumed by the Seller until Settlement,
except for in the event of loss or damage to the Real Property exceeding ten percent (10%) of the Purchase Price, then Seller
may elect to either repair the damages, provide credit at Settlement, or terminate the Purchase and Sale Agreement.
21.19. Time is Of the Essence. Time is of the Essence with respect to the purchase and sale of the Real
Property.
22. Bidding by or on Behalf of Seller.
Absolute Auction – No Seller Bidding. Unless the Auction is a forced sale, neither Seller will not bid or
anyone acting on the Seller's behalf bid, bid, directly of indirectly, on any Property put up at Absolute
Auction.
Reserve Auction – No Seller Bidding. Neither Seller, nor any one acting on Seller's behalf, may bid, directly
or indirectly, at the Auction.
Reserve Auction – Possibility of Seller Bidding. Seller, or those acting on Seller's behalf, may bid at the
Auction.
23. Conduct of the Auction. Auctioneer will regulate all matters relating to the conduct of the Auction and Auctioneer’s
decisions will be final and binding. Auctioneer will have control over bidding, and Auctioneer will resolve any and all disputes.
Auctioneer may, in Auctioneer’s sole and absolute discretion, reopen the bidding (but will not be required to) if (i) a bid is
made while the hammer is falling in acceptance of a prior bid or while bidding is otherwise being terminated, or (ii) promptly
after the Fall of the Hammer or other termination of the bidding Auctioneer is made aware of a bid that was unnoticed prior to
the Fall of the Hammer or other termination of the bidding, and it is demonstrated to Auctioneer’s satisfaction that such bid
was, in fact, timely made, or (iii) promptly after the Fall of the Hammer or other termination of the bidding Auctioneer is made
aware that Auctioneer and a bid assistant or ringman, or multiple bid assistants or ringmen, have acknowledged bids in the
same amount bid from different bidders, or (iv) some other bid dispute arises. Any contract formed with the Fall of the
Hammer will be subject to the conditions set forth in this Section. If bidding is reopened pursuant to this Section, the bid
recognized by Auctioneer prior to the reopening of the bidding w ill be held, and may not be retracted, and, if no further bids
are received, such bid will be the Winning Bid.
24. REMOVED
25. All Sales Final. ALL SALES ARE FINAL. NO REFUNDS OR RETURNS.
26. REMOVED
27. REMOVED
28. REMOVED
29. REMOVED
30. REMOVED
31. REMOVED
32. Claims. Unless otherwise provided in writing, after a Lot has been removed from the Auction Site by or on behalf of
a Buyer, no claims or returns will be allowed and no claim will be allowed for adjustments or rescission of any sales based on
the failure of a Lot to correspond with any standard and/or expectation of the Buyer.
33. REMOVED
34. Buyer’s Remedies; Bidders/Buyers Not Entitled to Incidental or Consequential Damages. To the extent that
any Bidder or Buyer may be entitled to damages or remedies, the sole and exclusive remedy available to Bidders and Buyers
is a return of the Purchase Price actually paid. Under no circumstances will Auctioneer or the Seller be liable for incidental or
consequential damages, including, without being limited to lost profits or reduced productivity. Each Bidder acknowledges
and agrees that no Bidder or Buyer is entitled to specific performance or other equitable relief.
35. Seller’s Remedies. If any Buyer breached such Buyer’s obligations under these Terms and Conditions or under a
sale contract with the Seller of Property Struck Off at the Auction, such property may be resold and the breaching buyer will
be responsible for any and all damages, including any deficiency or reduction in the Purchase Price, along with incidental
damages.
36. Indemnification. Each Bidder agrees to indemnify and hold Auctioneer and Seller harmless from any current or
future claim regarding the Auction or the Property, including, without being limited to, fitness, use, damage, safety, or injuries
to persons or property.
37. Private Sale. No Participant or Registered Bidder may offer to enter into a Private Sale for the purchase of any of
the Property prior to or during the Auction. If any of the Property is not Struck Off at the Auction and Seller enters into an
agreement to sell (i) any of the Personal Property within ten (10) days after the Auction, and/or (ii) any of the Real Property
within ninety (90) days after the Auction, Auctioneer will be entitled to receive an amount equal to Auctioneer’s full
Commission and Buyer’s Premium.
38. Waiver. Certain provisions of these Bidder Terms and Conditions are for the exclusive benefit of Auctioneer and/or
Seller(s). Such provisions, including, without being limited to, Bidder registration and qualification requirements, deposit and
payment terms (including the method, form, and timing of payment), removal and delivery terms, and Property inspection
terms), do not create, and will not be deemed to create, any benefits or rights in favor of any other persons, including
competing Bidders, and may not be enforced by any other persons. Either globally or on a case by case basis Auctioneer
and/or Seller may (but will not be required to) waive any provisions of these Bidder Terms and Conditions that are intended
for the benefit of Auctioneer and/or Seller.
39. Bid Pooling. Bid pooling occurs when Bidders collude to regulate, and artificially suppress, bidding in an effort to
reduce the Hammer Price. Bid pooling is a felony. Anyone participating in bid pooling will be referred for prosecution.
40. Theft. Theft is a serious offense, and, if discovered, will be prosecuted to the fullest extent of the law. Instances of
theft will result in immediate termination of bidding and removal privileges.
41. Governing Law; Jurisdiction; Venue; Waiver of Jury Trial. These Bidder Terms and Conditions will be governed
by and construed in accordance with the laws of the Commonwealth of Virginia, including its statutes of limitations, but
without regard to its rules governing conflict of laws. All claims, disputes, and other matters between the parties will be
brought in the state or federal courts sitting in and for the Lunenburg County, Virginia, which courts will have exclusive
jurisdiction, and will be the exclusive venue, for any and all such claims, disputes, and other matters. By submitting a Bidder
Registration and accepting a Bidder Number each Registered Bidder irrevocably and unconditionally (i) agrees that any claim,
suit or cause of action relating to these Bidder Terms and Conditions, or the transactions contemplated hereby, will be brought
in the state or federal courts sitting in and for the Lunenburg County, Virginia; (ii) consents to the jurisdiction of such courts for
any such claim, suit or cause of action; (iii) waives any objection that such party may have to the laying of venue of any such
claim, suit or cause of action in such courts; and (iv) waives any objection to the bringing of such claim, suit or cause of action
in such courts on the grounds of forum non conveniens. Each Bidder, Buyer, and other Participant waives the right to a jury
trial.
42. Attorneys’ Fees. If any Participant breaches such Participant’s obligations under these Bidder Terms and
Conditions, Auctioneer and/or Seller will be entitled to recover all costs and expenses, including attorneys’ fees incurred in
enforcing their respective rights hereunder.
