TERMS AND CONDITIONS
SOUTHERN AUCTION SOLUTIONS


PLEASE READ CAREFULLY: This document describes the Bidder/Purchaser's responsibilities and disclosures. Failure to read and understand these Terms and Conditions is a failure of the Bidder/Purchaser and not a cause to void a bid placed or a contract signed. All sales are final.
Southern Auction Solutions, Ron Young, Auctioneer, AL #5390 GA #4397, and Southern Auction Solutions staff will hereby be known throughout this document as "Auction Company."

IMPORTANT DISCLOSURES
Tract 1 - Two trees have fallen against the structure; one has a limb that has penetrated the roof, resulting in roof, ceiling, and some floor damage. Bidders are strongly encouraged to inspect the property prior to bidding.

Property Viewing
Tracts 1 and 2 for your viewing appointment please give us a call at 334-885-1787.
Tracts 3 and 4 vacant lots are open for public viewing at any time.
All Approximate lot corners have been marked with orange flagging using GPS coordinates.
Bidders are welcome and encouraged to visit, walk, and inspect the lots on their own prior to bidding.
For Questions and viewing appointments please give us a call at 334-885-1787 Ron or 256-357-9600 office
Auction Closing Process — Extend All Feature
This auction utilizes an Extend All closing method. The auction is scheduled to begin closing at 6:00 PM CST on the closing date; however, any bid placed on any lot within the final one (2) minute of the scheduled closing time will automatically extend the closing time for all lots by one (2) additional minute. This process will continue until no bids are placed on any lot for one (2) full minute, at which time the entire auction will close.
This method ensures all bidders have a fair and equal opportunity to respond to late bids and helps achieve the highest possible price for each property. Bidders are encouraged to monitor the auction closely as closing time approaches.
Winning Bidders will receive a phone call from the Auctioneer with next steps at the conclusion of the auction.



PROPERTY CONDITION
• Clear title guaranteed — Seller to convey merchantable title by warranty deed.
"AS IS, WHERE IS" CONDITION
• Due Diligence — It is the Bidder/Purchaser's responsibility to examine the property independently. We have disclosed any known conditions. We believe the information provided is factual but not guaranteed. We strongly urge you to perform your own study and conduct any due diligence you desire of the property before placing a bid.
• The information provided regarding the size of the property and boundary lines and any other factors are estimates only, used for the convenience of the Bidder/Purchaser unless confirmed by a recent survey. Auction Company is not responsible for the exact size or location of property. The layout and location of the lots being sold shall be established by the most recent subdivision survey and plat and any amendments thereto which may or may not be accurately reflected in any auction material or on any GIS type of website or application including but not limited to the Randolph Revenue Commissioner website.
• All information is believed to be either estimates or accurate; neither the descriptions nor any oral statements made by the Auction Company shall be construed as a warranty, either expressed or implied. The Bidder/Purchaser acknowledges having inspected the property being bid on and accepts it with any and all faults.
•

AUCTION TERMS
1. Purchase Contract — The property is offered under the specific terms provided in the Real Estate Sales Contract. A sample Real Estate Sales Contract is available under the document tab.
a. Bidders will be manually approved for registration to bid online.
b. A deposit of 20% of the high bid is required. The deposit is due to the Auction Company by 5:00 PM CST the day after the online auction is concluded via wire transfer or cashier's check. Bidder/Purchaser must provide Proof of Funds to be approved to bid. This can be a letter from your bank, a pre-approval letter or intent to loan from a lender, a screenshot of your bank account, or anything showing you have the ability to cover the amount of your bid. Notice to Non-U.S. Citizens: All deposits must be arranged through wire transfers to Southern Auction Solutions. Non-U.S. Citizens' certified checks will not be accepted.
c. The winning Bidder(s) will be required to sign a binding, non-contingent Real Estate Sales Contract by 5:00 PM CST the day following the close of the auction.
d. Minimum bidding increments are as follows: Tracts 1 and 2 - $1,000.00 minimum increment; Tracts 3 and 4 — $500.00 minimum increment. The Auctioneer reserves the right to adjust increments as necessary. Bidders may always enter a higher amount.
THE BID AMOUNT SHOWN AS THE HIGH BID IS WITHOUT A BUYER'S PREMIUM. ALL BIDS WILL HAVE A 10% BUYER'S PREMIUM ADDED TO DETERMINE THE FINAL SALES PRICE PLUS THE COST OF CLOSING.
2. Terms of Sale — Winning Bidder(s) will receive a Real Estate Sales Contract via email to be executed and returned to Ron@SouthernAuctionSolutions.com or completed through DocuSign. Twenty Percent (20%) Non-Refundable deposit of the High Bid Price must be wired or sent by certified check to Southern Auction Solutions trust account within 24 hours of auction conclusion. Remaining balance is due at closing within 30 DAYS.
3. Bidder Verification — Bidder registration is required. Southern Auction Solutions will verify all registrations. Bidding rights may be terminated without notice if verification fails or online terms are not met. Auctioneer may require proof of funds letter. The Auctioneer has the right to deny or suspend bidding privileges as deemed necessary to protect the interest of the auction and the Seller. The Bidder shall have no recourse. If the registering bidder cannot understand the terms or communicate that they understand the terms for the auction, bidding will not be approved.
4. Buyer's Premium — A 10% Buyer's Premium will be added to the bid price for the final sale price. Example:
• Bid Price: $100,000
• Plus 10% Buyer's Premium: $10,000
• Total Sale Price: $110,000
5. Bidding Format — The Bid Wrangler platform (bid.southernauctionsolutions.com) is utilized for this timed online-only auction. A high-speed internet connection is recommended. This auction uses an Extend All closing method as described in the Auction Closing Process section above. A maximum bid can be placed on any lot. For technical assistance, contact Rita Young at 334-646-9627.
6. Auction Bid Default — In the event a winning Bidder/Purchaser fails to submit the executed Real Estate Sales Contract as well as the required non-refundable down payment as provided in the Auction Terms, there may be remedies for the seller as a result of default, including legal action for seller's losses.
7. Closing — Closing will occur within 30 days of the auction. Seller pays prorated taxes. Buyer pays all other closing costs. The purchase is not contingent on inspections or financing. Delays beyond 30 days without written authorization constitute breach, resulting in deposit forfeiture and liability for resale costs. Legal claims will be filed in Randolph County, Alabama. Closing Agent/Attorney: The Tinney Law Firm is required to serve as the closing agent and closing attorney for each lot sold in this auction. The Tinney Law Firm has handled the Seller’s legal matters related to these properties and is thoroughly familiar with the easements, disclosures, and requirements necessary to fully protect the purchasers, future owners, and the Seller. All closings shall be coordinated through and conducted by the Tinney Law Firm. Closing costs paid by the Buyer shall include any closing fees charged by the Tinney Law Firm.
8. Agency Disclosure — Southern Auction Solutions represents the SELLER in ALL transactions.
9. Disclaimer — All information contained herein is believed to be correct. By accepting the Terms & Conditions, you acknowledge you have read and understand them. The information is being furnished to Bidders for the Bidder's convenience; however, it is the responsibility of the Bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Each Bidder must conduct and rely solely upon their individual investigation and inspection. The property is being sold "AS IS" "WHERE IS" with any and all faults. All properties are sold subject to any and all existing matters of record, all easements, recorded restrictive covenants, community access rights, and local zoning regulations. There are NO CONTINGENCIES for financing, appraisals, repairs, or inspections or any other requirements that may be required by a mortgage company. Please review all information supplied and seek appropriate assistance prior to bidding.
Bidder acknowledges that hardware malfunctions, software malfunctions, viruses, and similar issues do occur and are beyond the knowledge, scope, and control of the Auctioneer. We are NOT responsible for your system malfunctions, connection to the Internet, or your email stopping any of our emails to you regarding bid confirmations and/or outbid notifications.
Read the descriptions and view photographs carefully. If you have any questions, please call the Auctioneer at 334-885-1787. Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. The property is SOLD "AS IS" "WHERE IS"; this is an AUCTION and all SALES ARE FINAL. Bids cannot be retracted and are binding contracts between Bidder and Auctioneer/Seller. Bidder is accountable to be informed about property and associated costs before bidding. The starting bid is not the Reserve Price. Auctioneer reserves the right to reopen bidding. Auctioneer's decisions will be final. Some auctions have a minimum selling price established by Seller ("Reserve Price"). Except where prohibited by law, Auctioneer may counter bid on behalf of Seller on any property up to the amount of the Reserve Price (and no such bid will result in a sale of the property). If the Reserve Price is not met, Seller is under no obligation to sell the property; however, Seller may accept a bid that is below the Reserve Price at their sole discretion.
10. Merchantable Title — Clear title guaranteed — Seller to convey good title by warranty deed or other appropriate deed. Reasonable extension will be granted for title issues. Non-refundable deposit will be refunded if title is unmerchantable.
11. Changes and Announcements — Auctioneer reserves the right to deny admission, postpone/cancel auction, withdraw property, or alter terms upon announcement.
12. Auction Subject to Prior Sale — "Auction subject to prior sale" does not mean it is our intention or goal to sell the property before the auction OR that there is a listed price posted on the property. Southern Auction Solutions is legally bound to present any and all written offers to the Seller at the time they are presented. Although we endeavor not to encourage pre-auction offers unless they are exceptional, we are obligated to present all of them, regardless of when, how, or from whom they arrive. Although the intent is to auction the listed property, the ultimate goal is to sell the property for a price satisfactory to the Seller. If the property is sold prior to auction, the Auctioneer will do his best to give notice to all other interested parties.

DOCUMENTS TAB — REFERENCE MATERIALS
The following documents are available for review in the Documents Tab on the auction webpage. Bidders are strongly encouraged to review all documents prior to bidding:
• Real Estate Sales Contract (sample)
• Additional property information as available

Southern Auction Solutions
Ron Young, Auctioneer | AL Lic. #5390 | GA Lic. #4397
3990 County Road 61, Roanoke, Alabama
334-885-1787 | Ron@SouthernAuctionSolutions.com
bid.southernauctionsolutions.com