Public Real Estate Auction
416 N. 14th Street, Tekamah, NE.
1. This property is being sold with a reserve. That is, the seller reserves the right to accept or reject the high bid today.
2. There is A 5% buyers premium. 5% is added onto the high bid TO FORM THE CONTRACT PRICE. KEEP THIS IN MIND WHILE YOU’RE BIDDING.
3. There will be a 5% deposit due auction day. Immediately following the bidding, the successful bidder will execute a contract for the purchase of the property and deposit 5% of the contract price with the escrow agent. ( $2,000 minimum deposit.)
4. Closing: The balance of the purchase price is due at closing within 30 days.
5. The property is being sold as is/where is with all faults if any. No warranty as to condition or suitability for any purpose is expressed or implied. Buyers shall rely entirely on their own information, judgement and inspection of the property and records. No Guarantee is made about the suitability of the property for any specific purpose.
6. This is a cash transaction. There is No financing contingency. Each purchaser is responsible for obtaining his own financing if necessary. If you are unsure of your ability to obtain the necessary financing, don’t bid as you could lose your earnest deposit if you don’t close.
7, Title. The contract to purchase this property is subject to the seller being able to provide an insurable title.
8. Purchaser will pay all closing costs associated with this transaction with the exception of the seller providing owners title insurance, pro-rated taxes. All other expenses will be paid by Buyer. Again, The Seller will provide the owners title policy.
9. All adjustments of taxes, or other proratable items on this property shall be prorated as of the date of closing.
10. Back up bidder card. If you wish to be a back up bidder, please see me after the auction and we will put you on the list in the event the high bidder does not close. We will contact you and invite you to purchase the property. There is no obligation to purchase and no signature is required. This is a matter of reference only.