EAL ESTATE AUCTION TERMS AND CONDITIONS ** THIS IS A PRE-BID AUCTION ** FOR PRE-BID AUCTIONS ONLY: Online bidding will occur up to one hour prior to the start of the auction. The high bid received online will be the opening bid on site. If no other bids are received at the live auction, then the online bidder will be declared the winner. ONLINE AUCTIONS have a soft-close feature to prevent bid sniping at the last minute. WEBCAST AUCTIONS run online concurrently with the live auction and allow (in most cases) pre-bidding prior to the start of the live sale. 1. By bidding, or registering to bid, you agree to all of the terms and conditions set forth below. 2. Redstone Auctions represents the seller only in all cases. 3. Unless otherwise noted, all auctions are with reserve. 4. A 10% buyer premium will be added to the high bid to arrive at the final contract price to be paid by the successful bidder at closing. 5. Announcements made on-site will take precedence over these terms, if applicable, and will be announced prior to the start of the on-site bidding. 6. The successful bidder is required to pay by wire transfer an amount equal to 10% of the winning bid to Redstone Auctions, or designated holder, with the balance due at closing within 30 days, and sign a real estate purchase agreement. Failure to sign the agreement and/or pay the required deposit within 24 hours of the close of the sale will be considered a DEFAULT by the Buyer subject to all legal remedies available to the Seller and Redstone Auctions. Time is of the essence. 7. Title will be conveyed by warranty deed using the existing legal description. The seller will pay for the deed preparation. 8. Your bid is NOT contingent upon inspections, appraisals, or acquiring financing. You are encouraged to inspect the property and conduct all due diligence prior to bidding. 9. Property taxes will be prorated from the date of closing with purchaser responsible for future assessments or rollbacks. 10. If applicable, homes built prior to 1978 may contain lead paint. Availablity to inspect was advertised at least 10 days prior to the start of the live auction. By bidding today, you agree you have either satisfactorily inspected for lead paint or waive the option to do so. 11. Any and all closing costs, including any loan fees, recording costs, attorney's closing fee, and title search and/or insurance (if desired), are the sole responsibility of the Purchaser. 12. All real estate sells in 'AS IS, WHERE IS' condition with no warranty or guarantee of any kind. 13. CONDITION DISCLAIMER: BUYER/BIDDER acknowledges to and agrees with Seller and Auctioneer that with respect to the property, Seller and Auctioneer have not, do not, and will not make any warranties or representations, express or implied, or arising by operation of law, including, but not limited to, warranty as to the value, physical condition, square footage, size, area or acreage of the property; matters of municipal code violation including but not limted to the presence of open building permits, unresolved code violations, or unpermitted improvements; environmental or hazardous conditions including but not limited to wetlands, lead based paint, radon gas, asbestos, underground storage tanks, illegal or illicit pharmaceutical manufacturing, or any other hazard; zoning compliance, good repair, operability, habitability, tenantability, suitability, merchantability, profitability, marketability, past or present compliance with any rules, regulations, covenants, or restrictions; future value, development potential, or fitness for any particular purpose of the property. 14. Information provided has been compiled from publicly available information and is believed to be correct but not guaranteed. 15. We reserve the right to verify the identity of all bidders. Bidding rights granted herein are provisional, and if complete verification is not possible, Redstone Auctions, at their discretion, may revoke the registration and terminate bidding activity. The Seller and Redstone Auctions reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, use of offensive bidder/screen names, etc. Incidents of spamming, bid manipulation, interference, etc. are grounds for immediate bid revocation and account suspension. 16. In the event there are technical difficulties related to the server, hardware, software, or any other online auction-related technologies, Redstone Auctions reserves the right to extend bidding, continue the bidding as a live sale only, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR REDSTONE AUCTIONS SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE OR HARDWARE TO FUNCTION PROPERLY FOR ANY REASON. 17. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. Auction company employees and/or the auction company may bid on this auction prior to the start of the live event. We gather aggregate information from this web site which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence. 18. Buyer and or Bidder agree(s) to hold harmless and indemnify Redstone Auctions dba Redstone Family Realty, LLC, and its agents and representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. 19. Simulcast/online bidding is also subject to the terms, conditions, and privacy policy of the service provider. More information regarding their terms may be found below. 20. In case of disputes, the decision of the auctioneer is final.