TERMS:

Online Auction Terms & Conditions
1. Seller Confirmation Auction: The property is being offered in an Online Only
Auction, with all bids being subject to the Seller’s approval.

2. Auction Bidding Registration: Online bidder hereby agrees that they must be
properly registered for the online auction by completing and signing the (Online
Auction Bidders Agreement), which will be sent by email via DOTLOOP. Upon
completing this registration form and receiving approval, bidding privileges will be
turned on. If you need assistance with registration, you may contact Jaimie
Harvey at (409) 656-9638 or by email at setxproperty@gmail.com Seller(s) may
at their sole discretion request additional registration requirements from any
bidder unknown to them or the auction company.

3. Bidding Opens/Closes: The Online Only Auction (i.e. Internet Auction) bidding
shall be opened and begin closing on the dates and times stated above, subject to
the soft close feature as outlined below in (#18).

4. Property Preview Dates: It is highly recommended that all bidders personally
inspect the property prior to placing any bids in the auction. Property inspections
are the sole responsibility of the bidders and can be conducted during the
property preview dates as advertised. The property may also be inspected by
scheduling an appointment with the Agent of Record, Jaimie Harvey, at
409-656-9638.

5. Cash Offer/No Financing Contingency: By participating in this auction, bidders
hereby agree that their bid shall NOT be subject to the bidder’s ability to obtain
financing. By placing a bid in this auction, bidders are making a “cash offer” to
purchase the property. Financing is NOT a contingency in the purchase
agreement.

6. Buyer’s Premium: A TEN Percent (10%) Buyer’s Premium shall be added to the
final bid price placed online, which will determine the Total Contract Sales Price.
Bidders hereby understand that the Buyer’s Premium shall be added to the
winning bid to create the Total Contract Sales Price for which they are obligated
to pay for the property. Example: (winning online bid $100,000 + 10% buyer’s
premium = total purchase price of $110,000).

7. Purchase Contract: Winning bidder hereby agrees to enter into the Real Estate
Auction Purchase Contract which has been approved by the Seller, immediately
upon being declared the Successful Bidder by the Auctioneer. Upon the close of
the auction the winning bidder will be forwarded via email an Auction Real Estate
Sales Contract to purchase the property. A signed copy of the Auction Real Estate
Sales Contract must be received by United Country | JW Realty & Auction
Services no later than 24 hours from the time said Purchase Contract was sent to
the winning bidder. The Auction Real Estate Sales Contract may be e-signed, hand
delivered, faxed, or scanned and emailed. A sample purchase contract is available
for review online prior to placing any bids in the auction.

8. Down Payment: A TEN Percent (10%) non-refundable down payment based on
the total contract purchase price (which includes the buyer’s premium) will be
wire transferred or hand delivered in the form of certified funds to the Title
Company no later than 48 hours following the close of auction. See closing agents
contact information below. The balance of the purchase price will be due in full at
closing.

9. Closing: Closing shall be on or by 45 Days after Auction Ends. Closing shall take
place at Capital Title, 3195 Dowlen Rd Suite 108, Beaumont, TX 77706.

10. Closing Agent is Paige Murphy, and the phone number is 409-242-6480,
email PMurphy@ctot.com. Out of state buyers will be afforded the opportunity
to close via email, mail and wire transfer of certified funds.

11. Easements: The sale of the property is subject to any and all easements of
record.

12. Minerals: The seller’s share of minerals (if any) will NOT transfer with the
surface at closing.

13. Survey: No survey is required to transfer title to the property and the Seller
shall not provide any additional survey. If the Buyer desires a survey, it shall be at
the Buyer’s sole expense and shall not be a contingency or requirement in the
purchase contract.

14. Possession: Possession of the property will be given upon payment in full of
the purchase price and transfer of title, at closing.

15. Title Insurance: Title Insurance in the full amount of the purchase price will be
provided by the seller. Seller shall execute a general warranty deed conveying the
property to the buyer(s).

16. Taxes: Seller shall pay any previous years taxes (if due), and the current year’s
real estate taxes shall be prorated to the date of closing.

17. Online Auction Technology (Disclaimer): Under no circumstances shall Bidder
have any kind of claim against United Country – JW Realty & Auction Services,
Broker of record, or anyone else, if the Internet service fails to work correctly
before or during the auction. Online bidding is subject to technology faults and
issues which are outside the control of the auction company. Bidder(s) are
encouraged to use the “Maximum Bid” feature on the bidding platform and lock
in their maximum bid amount, if they are concerned about technology failure
during the auction. The SELLER and/or Auction Company reserves the right to
(pause) the online auction bidding in the event of any internal or external
technology failure, to preserve the integrity of the auction event and maintain a
fair and impartial bidding environment.

18. Soft Close: If a bid is received within the last 3 minutes of the auction, the
auction close time will automatically extend 3 minutes to allow other bidders an
opportunity to competitively bid prior to the auction closing. This feature
eliminates "snipers" and encourages fair and impartial bidding from all
participants.

19. Disclaimer: All information provided is believed to be accurate; however, no
liability for its accuracy, errors or omissions is assumed. All lines drawn on maps,
photographs, etc. are approximate. Buyers should verify the information to their
satisfaction. Information is subject to change without notice. There are no
warranties either expressed or implied pertaining to this property. Real estate is
being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please
make all inspections and have financing arranged prior to the end of bidding. The
Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond
the Seller’s reserve price (if applicable). The property is available for and subject
to sale prior to auction. By participating in this auction, Buyers hereby
acknowledge that any bid(s) placed by them is a binding agreement to purchase
the property, subject to the bid being approved by Seller (if applicable).

20. Pre-Auction Sales: As an agent for the Seller, the Auctioneer must present any
and all bona fide written offers to the Seller, which may be created outside of the
online bidding platform. Therefore, all properties are subject to pre-auction sales.
Pre-auction offers must meet all of the auction terms and conditions, and must
be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along
with the required earnest deposit. Properly submitted offers will be presented to
the Seller in a timely manner. Seller may accept or reject such offer at their sole
and absolute discretion. When a pre-auction offer is submitted, all properly
registered online bidders will be notified that “an offer” has been submitted and
on which specific property, however the amount of the offer shall remain
confidential. All pre-auction offers must allow a minimum of 24 hours for seller’s
acceptance.
 

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