TERMS & CONDITIONS FOR REAL ESTATE
Written sealed bids must be submitted on the REAL ESTATE SEALED BID FORM by mailing or delivering to Doug Frederick, Howard Hanna The Frederick Group 3500 Winchester Rd #201, Allentown, PA 18104, dougfrederick@howardhanna.com. Bid forms should include bidder’s name, address, phone number, email and amount of bid.
Sealed Bids must be delivered to Doug Frederick, Howard Hanna The Frederick Group.
It is the bidder’s sole responsibility to ensure that their REAL ESTATE SEALED BID FORM is received by Howard Hanna before auction closing. No verbal bids will be accepted.
REVIEW SEALED BIDS:
All sealed bids will be opened and reviewed by Doug Frederick, Howard Hanna the Frederick Group and Seller. At the time of acceptable offer, Seller and Buyer will immediately enter into a Purchase Agreement. If no acceptable offers have been made, the top 3 bidders will be notified to submit their best and final offer before the property goes to auction. Seller reserves the right to accept or reject any bid/offer or to waive any technicalities and defects in a REAL ESTATE BID FORM.
BIDDER PARTICIPATION:
By submitting a sealed bid to purchase the subject property, Bidder agrees to participate and be bound by the terms and conditions.
A 5% Buyer’s Premium will be added to the accepted bid to form the contract price.
AWARD OF CONTRACT:
At the conclusion of the sealed bid process, Doug Frederick, Howard Hanna the Frederick Group and Seller may award the sale of the property to the accepted bidder. In the event of a tied bid Doug Frederick, Howard Hanna the Frederick Group will ask the tied bidders to submit a final and best offer to break the tie bid. At the time of an acceptable offer Seller and Buyer will immediately enter into a Purchase Agreement.
The Buyer shall then have three (3) business days after the receipt of the Purchase Agreement to execute and return the Purchase Agreement with no contingencies with the balance of ten Percent (10%) of purchase price, (nonrefundable) earnest money check (Payable to Searchlight Auction LLC.). Closing date of sale will be determined between the seller and buyer but could be on or before 30 DAYS after the execution of a signed Purchase Agreement and deposit of earnest money. TIME IS OF THE ESSENCE.
THERE ARE NO CONTINGENCIES. SOLD “AS IS/WHERE IS” WITH ALL FAULTS, IF ANY. NO WARRANTY AS TO CONDITION OR SUITABILITY FOR ANY PURPOSE IS EXPRESSED OR IMPLIED. BUYER SHALL SOLELY RELY ON THEIR OWN INFORMATION, JUDGEMENT AND INSPECTION OF THE PROPERTY AND RECORDS. BUYER PAYS ALL CLOSING COST AND ANY OTHER COST PERTAINING TO THIS SALE. SELLER WILL PAY PRO-RATED TAXES AT CLOSING. THERE IS NO FINANCING CONTINGENCIES. TIME IS OF THE ESSENCE.
BIDDING ELIGIBILITY:
All persons submitting a sealed bid must be at least 18 years of age or older and have full authority to bid on the property either as solely or as a representative of the bidding entity. Anyone submitting a bid acknowledges they are making a legal and binding offer to purchase the subject property agree to be bound by the Terms and Conditions as set herein.
I also understand that Doug Frederick, Howard Hanna is exclusively representing the Seller in the sale of this property.