Auction Terms & Conditions Terms and Conditions 211 Cartwright Ct. Goodlettsville, TN 37072 Auction Terms & Conditions TERMS & CONDITIONS, READ ALL MATERIALS: House and 1 acre lot with improvements located at 211 Cartwright Ct., Goodlettsville, TN 37072, as recorded in Sumner County, TN Register of Deeds Office, 5164 deed book(s), 812 page(s) Sellers: Joseph & Stephanie Baron - Bidding Starts: Online Pre-Bidding starts at November 9 at 6:00 PM CST. Onsite bidding will start at approximately 11:00 AM CST on Saturday, November 13, 2021. The final bid, whether in-person or online, will be decided when the seller confirms/accepts the bid, and the auctioneer declares the property as being sold to highest bidder. - Open House Preview will be held on Thursday, November 11, 2021, from 4:00 p.m. - 8:00 p.m. CST - Buyer's Premium: There is a 7% Buyer's Premium in effect for this auction. Your high bid price will have 7% added to establish the contract sales price. Example: $ 100,000 high bid plus 7% Buyer's Premium = $107,000 "Contract Price". - Agreement of Purchase & Sale: Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement via email, Authentisign, and wire a 15% down payment of the contract purchase price as earnest money, which is a non-refundable earnest money deposit. This wire must be received by 4:00 PM on 11/15/2021, by Ron Gregory Realty & Auction, Inc. - Bid Deposit/Authorization: All bidders must receive a bid number to bid. A valid driver's license and credit card is required to bid. All bidders will be required to send the auctioneer a copy of your driver's license either by email or a photo texted to the auctioneer at 615-504-2500. You can register online when registration opens at 6:00 PM on 11/9/2021. Upon request to bid and submitting your information, you will receive a call from the auctioneer to be qualified to bid. After speaking with the auctioneer, then, at the auctioneer's discretion, you will be approved to bid. Bidder agrees that a $500.00 hold can AND may be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $500 internet service fee is non-refundable and will be charged to their credit card. This authorization is not actually charged to your card. If they are not the winning bidder, the $500 internet service fee will be released, and the credit card will not be charged. The successful bidder will be required to sign the "Purchase and Sale Agreement" within 24 hours of auction closing and deposit 15% of the total contract price into the Auction Company's escrow account, by 4:00 pm November 15, 2021. Failure to do so will be considered a breach of contract. - Debit Card Warning: We require bidders to secure their accounts with a credit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days). Ron Gregory Realty & Auction, Inc. highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk. - Auction Ending: Auction will end when auction declares property sold or seller has rejected the final bid/reserve not me. - Payment and Closing: The Purchaser shall pay a non-refundable amount equal to 15% of the total contract sales price to the Escrow Account of the auction company by 4:00 p.m. CST on the first business day following the conclusion of the auction. The Auction Company will only accept payment by wire transfer. The Purchaser will be charged for the wire transfer fee (typically $25.00). Purchaser shall pay the remainder of the total contract sales price at the real estate closing. Closing shall take place within 25 days of the conclusion of the auction. The Escrow Agent/Closing Attorney will schedule and conduct the closing. - Escrow Agent/Closing Attorney: The purchase monies, in respect to the real estate shall be paid to and deposited with: Ron Gregory Realty & Auction, Inc. The closing agency will be Smith, Sholar, Milliken, PLLC., located at 846 Conference Dr # 4, Goodlettsville, TN 37072. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters identified in the preliminary title commitment along with guaranteed insured title policy. - Real Estate Taxes: 2021 taxes will be prorated at the time of closing. 2020 Real estate taxes were $ 2120.30. - Closing Costs: Each party is responsible for their own closing costs. - Cash Sale: This is a cash sale and is not contingent on Purchaser's ability to obtain financing, or any other buyer contingency. (Buyer's may use financing; however, this sale is not contingent on financing, appraisals, or inspections that might be required by a lender and must be closed by the stated closing date.) - Possession: The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any. (Currently no known leases.) - As-Is Sale: The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. All real estate, land, buildings, and improvements are being sold and purchased "AS-IS" without any warranties or guarantees, and representations as to fitness, use, habitability, merchantability, condition, age, shape, size, quality, quantity, environmental impact, conditions or hazards, condition of wells or subsurface conditions being expressed by sellers or their agents. - The Property Is Selling Subject To: Anything an accurate survey or personal inspection of the property may reveal, including any existing right-of-way(s), easements or claims to easements. Subject to, any encroachments, easements, rights or claims of parties in possession, restrictive covenants (Warranty Deed Book 5164, Page 812 Sumner County Register of Deeds office), building codes or building permits, governmental agency regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The Purchaser shall have satisfied himself as to the location and condition of the property and all descriptions prior to bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., as provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. - Agency Disclosure: Ron Gregory Realty & Auction, Inc. and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction. - Miscellaneous: All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it. - Equal Opportunity Clause: All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser's race, color, religion, sex, familial status, national origin or physical handicap. - Debt Collection & Interest Charge: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Ron Gregory Realty & Auction, Inc in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Ron Gregory Realty & Auction, Inc. Any debt collection or dispute proceedings will be heard in Sumner County, Tennessee. - Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney fee. - Age Requirement: All bidders/purchasers must be 18 years of age or older. - Bidders Information and Security: All registration information the bidder provides to Ron Gregory Realty & Auction, Inc., shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. Bidders must notify Ron Gregory Realty & Auction, Inc if they believe that their bidder number and password have been compromised at 615-504-2500. Under no circumstances shall Bidder have any kind of claim against Ron Gregory Realty & Auction, Inc., or anyone else if the internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the online auction, they have accepted all these Terms and Conditions. Bidder is responsible for any, and all bids placed by their account. - Before Bidding: Potential bidders are encouraged to make their own inspections and due diligence prior to bidding on the property. NO BIDS WILL BE CANCELED OR RETRACTED FOR ANY REASONS! READ ALL MATERIALS PRIOR TO BIDDING. - Announcements day of sale take precedence over all other advertising. --------------------------------------------- ------------------------------------------ Terms Of Use

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