TERMS:

PROCEDURES AND TERMS

1. All bidders and others attending this auction agree that they have read and fully understand the terms and agree to be bound thereby. These terms are in addition to all other posted information, if any.

2. Online Bidding for the real estate auction will begin Monday, October 14, 2024, at 8 AM LT 1 PL 299 SARNIA CITY; SARNIA, 850 Wellington Street, Sarnia, Ontario. Anyone interested in bidding must complete the BIP Certification, RECO Information package form and register to bid on Hibid.

3. Announcements by the Auctioneer or the Vendor at commencement of the auction will take precedence over any previously printed material or any other oral statements made by anyone employed by, representing, or associated with the Auctioneers.

4. Questions may be directed to the office at 519-882-4554 or by email to info@greatwestteam.com

5. If any dispute arises between or among bidders, the decision of the Auctioneer shall be final and absolute.

6. Auctioneers reserve the right to reject any or all bids and reserve the right to bid on behalf of an absentee bidder. The existence of absentee bidders, if any, will be disclosed at the beginning of the auction. This property is being sold subject to the owner’s conformation.

7. Closing Costs: Purchaser will incur standard closing costs, as would be the case through and purchase of real estate in the province of Ontario.

8. HST: Harmonized Sales Tax will be applicable to Purchase Price (If applicable) and Buyer’s Premium on closing and will be paid by the Purchaser.

9. There is a 6% Buyer's Premium added to the purchase price, becoming the contract price to be paid by the Purchaser.

10. BIP Certification, RECO Information Package, and copy of valid driver's license must be returned to the office before any online bids will be approved. Name on license, signing person on BIP & RECO Information Package, and registered name on HiBid must match. The signed BIP Certification and license copy can be returned to the office via email to info@greatwestteam.com 

Disclaimer

Be advised that the information contained herein is to the best knowledge of the provider or was compiled from public information and is provided to you without warranties or representations of any kind, and the property if offered as is and where is, with all faults and that not warranties or representations are made in connection with the property whatsoever.

Bidding Information

The auction of this piece of real estate will take place in the same manner in which you would expect to bid on a piece of personal property. The Auction will move at a slower pace (5 minute soft close) to ensure that every person clearly understands the amount of the previous bid. You will have the opportunity to bid as many times as you like and upon conclusion the highest bidder will be declared the buyer subject to the approval of the vendor. The Auctioneer’s decision is final.

What Happens Next?

1. A deposit of $7,500 will be required from the successful bidder immediately following the auction. This amount need not be certified; however the funds must be in the account upon which the cheque is written at the time it is written. There is no charge to register for this auction.

2. Closing will be Wednesday, November 20, 2024.

3. No conditions may be added to this agreement by the purchaser either at the auction or otherwise.

4. The purchaser’s lawyer will be allowed until 2 weeks prior to closing to inspect title

5. 6% Buyer’s Premium added to the purchase price.

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