Kiefer Auctioneers Terms & Conditions
PUBLIC REAL ESTATE AUCTION
TERMS & CONDITIONS
Auction Company: Kiefer Auctioneers, LLC | (903) 821-8717 or (940) 391-9111 | email@example.com | www.kieferauctions.com
Licensed Auctioneer: Cory Kiefer, TX LC#16155
Licensed Broker/Broker Firm: WilliamsTrew, A Division of Ebby Halliday Real Estate, Inc.
Licensed Seller’s Agent: Kyle Dykes with WilliamsTrew – TREC #0689135 – (254)371.9388 | firstname.lastname@example.org
Real Property Location: 278 County Road 4460, Decatur, Texas 76234
Date: October 22, 2022 at 12:00 PM CST
Real Estate Preview Date: This property may be viewed by appointment only. Call Real Estate Agent to schedule an appointment.
These are Kiefer Auctioneers, LLC, Terms and Conditions Agreement (this “Agreement”), for this auction outlined herein. They consist of the complete outline below between you (“the Bidder”) and Kiefer Auctioneers known as (“Auctioneer”).
For the purpose of the Auction Terms and Conditions Agreement, the term “Auction” shall mean and refer to the auction conducted by the Auctioneer beginning at 12:00 p.m. CST on October 22, 2022.
For the purpose of this Agreement, the term “Bidder” shall mean and refer to each person or entity that enters or places a bid at Auction. A bidder who is the highest accepted bidder at a Live Auction or an Online Bidding Auction, or a person or entity purchasing an Auction Item and/or Property, is referred to herein as “Purchaser”.
For the purpose of this Agreement, the term “Property” shall mean and refer to 10 +/- Acres in Wise County, Decatur, Texas. INCLUDING _____ or NOT INCLUDING X all or said 0 % of the mineral interests that Seller may have with respect to oil, gas, and other minerals that may be in, under, or produced from the Property.
These Bidder and Purchaser Terms and Conditions known herein as (“Terms and Conditions”) shall mean and apply to all bids placed at an auction conducted by Kiefer Auctioneers, LLC, hereinafter called (“Auctioneer”). By registering to participate in an auction, whether at a live auction sale, via online bidding in a timed internet auction or a live internet auction (“Online Bidding”) or by electing to purchase real estate (“Property”) or other auction items (“Auction Items”) by clicking the “Bid Now” and “Buy Now” icon on the applicable Auctioneer online marketplace (each, an ‘Auction’), each person or entity (“Bidder”) and (“Purchaser”) expressly agrees to abide by these (“Terms and Conditions”). Participation in an auction by any person under the age of 18, not of sound mind, is strictly prohibited and in violation of these Terms and Conditions.
By registering to bid in Kiefer Auctioneers auction, the Bidder hereby agrees and understands that they have read, understand, and agree to abide by Kiefer Auctioneers Terms and Conditions, explicitly stated herein, by becoming a registered bidder. It is the bidder’s responsibility to obtain and understand these Terms and Conditions prior to bidding on any property or auction items. The bidder agrees to accept and be legally bound to the Terms and Conditions by becoming a registered Bidder and/or Purchaser in each respected Auction, prior to receiving a Bidder number on-site or a Bidder/Paddle number online. It is solely the Bidders responsibility to read, understand, and/or request the Terms and Conditions for each auction from Auctioneer. All Terms and Conditions for each Auction will be listed on and found at: www.kieferauctions.com under each respected Auction, and posted online at: ProxiBid.com under Kiefer Auctioneers Terms and Conditions for each respected Auction. All announcements and/or any additional Terms or Conditions made by Auctioneer the day of Auction, shall supersede any printed or oral materials, which shall also become legally bound to this Agreement.
Kiefer Auctioneers, LLC (referred to herein as “Auctioneer”) has a contract with The Estate of Todd D. Fitch (“Seller”) to offer for sale at public auction the real estate located at 278 County Road, Decatur, TX 76234. The Property being offered to sell at public auction to the highest bidder.
- Live Auction: The property will be offered for sale in a Live, Audible Auction, conducted by a Licensed Auctioneer on SATURDAY MORNING, OCTOBER 22, 2022 at 12:00 PM CST. The Auction will be conducted on-site at the property address listed above, with registration beginning at 8:00 am CST on the day of Auction. The property will sell “AS IS”, and it is the sole responsibility of any potential Bidders to inspect and conduct your research prior to the Auction. Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired, recordable Power of Attorney approved by Auctioneer prior to the auction. If a Bidder is bidding on behalf of a corporation, the bidder shall be individually bound until the purchaser presents a corporate resolution prior to closing.
- Online Bidding: If you are unable to attend the Live Auction of the property, you can participate in Real-Time Online Bidding and Pre-Bidding that will be available through ProxiBid, an online bidding platform, prior to and the date of Auction beginning at 12:00 p.m. CST day of Auction. Pre-Registration with ProxiBid is required at: https://www.proxibid.com/Kiefer-Auctioneers/auction-house/11490 prior to Auction.
- Auction Procedures: The Seller and Auctioneer reserve the right to offer the Property in any manner they choose. All decisions of Auctioneer are final as to the methods for conducting the Auction and bidding, disputes amongst bidders, the increments of the bidding, and all other matters and issues that may arise before, during, and after the Auction. The Property will be offered as a Live and Online Auction in 1 individual tract(s). There will be open bidding on tract(s) until the close of the Auction. The Property will be sold in such a manner that results in the highest total sales price to Seller. Any bid submitted throughout the auction remains live until the auction is officially closed by the Auctioneer and may become the high bid obligating the Bidder to purchase the tract(s) or parcel(s) for which the bid was placed. Various occurrences may cause any given bid to become the high bid on the tract(s) or parcel(s) made the subject of that bid.
- The Property is selling subject to, and any Contract is not contingent upon, any state of facts and accurate survey or personal inspection of the Property may reveal, any existing rights-of-way, easements, or claims to easements, encroachments, rights or claims of parties in possession, restrictive and protective covenants, flood zones, zoning, or subdivision regulations, building codes, health and safety codes, governmental agencies regulations, environmental conditions, hazardous materials, leases or tenancies, any mineral rights, reservations or leases, and subject also to all title exceptions as set forth in the Title Commitment that is available for inspection.
- The Seller will be able to convey the property free and clear of any liens or encumbrances except as may be specified in the Title Commitment and/or Real Estate Sales Contract.
- Maps and depictions included in the marketing material for the auction are for illustration purposes only and neither Seller, nor Auctioneer warrants or guarantees any of these materials or other information to be accurate or complete.
- The property is sold “As-Is”: NO WARRANTY; AS-IS/WHERE-IS AUCTION SALES: ALL SUCCESSFULLY BID OR PURCHASED AUCTION PROPERTY AT AN AUCTION ARE SOLD ON AN “AS-IS WHERE-IS” BASIS WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE DESCRIPTION OF AUCTION PROPERTY IS SOLELY FOR THE PURPOSE OF IDENTIFICATION AND DOES NOT CONSTITUTE A REPRESENTATION OR WARRANTY THAT THE AUCTION PROPERTY WILL CONFORM TO SUCH DESCRIPTION OR TO ANY CONDITION REFERRED TO THEREIN. NEITHER AUCTIONEER, SELLER, NOR THE BROKER MAKES ANY WARRANTY OF THE AUCTION PROPERTY.
- Bidders, and Buyer’s Agents, should rely solely on their own inspection of the entire auction property prior to the sale and should satisfy themselves as to the usefulness and value of the property. Any statement in the description regarding the property to be sold should be considered a limited guide only. Any error in description does not relieve the bidder or his/her agent of their responsibilities to inspect.
C. Property Inspection
- It is the Bidder’s sole responsibility to: a) perform all inspections (legal, environmental, economic or otherwise) of the Property and to be satisfied as to its condition prior to bidding; b) review all property information and due diligence materials; c) independently verify any information they deem important including information available in public records; and d) inquire of public officials as to the applicability of and compliance with land use and environmental laws, zoning, building and health & safety codes and ordinances and any other local, state or federal laws and regulations.
- All information contained in promotional materials, including, but not limited to, photographs, directions, acreage, square footage, dimensions, zoning, maps used for promotion, environmental conditions, taxes, etc., was provided by or on behalf of the Seller and is believed to be correct; however, neither the Seller, Auctioneer, nor the Broker, makes any promise, representation, guarantee, or warranty as to the accuracy or completeness of such information. There is no obligation on the part of Seller, Auctioneer, nor the Broker, to update any information. Bidder and Buyer’s broker and agent, shall be responsible for verifying all acreage and square footage amounts through public records.
D. Acceptance of Bid, Real Estate Down Payment & Real Estate Sales Contract
- Unless the Auctioneer expressly announces that the Auction is to be “without reserve,” the Auction will be a “reserve” auction – i.e., the Auctioneer may accept or reject bids for the Property or with respect to Tract(s) of the Property. For this auction, all Tract(s) will be sold with an undisclosed reserve.
- Down Payment: A Ten-Percent (10%) Buyer’s Premium will be added to the High Bid attained at Auction to constitute the Total Contract Price. The Non-Refundable Ten-Percent (10%) Buyer’s Premium will be paid the day of Auction when the Contract is executed by Cash, Cashier’s Check or a Personal/Business Check will be accepted if accompanied by a “Bank Letter of Guarantee”. The Balance will be due at Closing, on or before 45 days after the signed Real Estate Sales Contract effective date. If Closing Date gets delayed, all Terms and Conditions will continue to apply and remain in full effect, as the original terms outlined herein. All Bidders are responsible for attaining his or her own Financing prior to Closing. Accordingly, each Bidder and Purchaser assumes sole and complete responsibility for obtaining and arranging financing for the purchase of the Property for which a successful bid has been entered. Neither Auctioneer, Seller, nor Broker assumes any responsibility for arranging financing for Bidder and / or Purchaser or for Purchaser’s inability to obtain financing. Each Bidder’s bid and offer to purchase is NOT contingent upon Purchaser obtaining financing.
- Agent Incentive: Real Estate Agents are eligible to receive a Three-Percent (3%) Commission. Bring your Buyer and Co-Register the day of Auction. The Real Estate Agent of the successful Purchaser will receive a Two-Percent (2%) Commission of the Auction Strike Price to be paid the day of Closing. Real Estate Agents participating as a Principal to the transaction or are an Immediate Family Member of the Purchaser, are ineligible for the Agent Incentive.
- Auctioneer: The Auctioneer is solely responsible for the Auction sale of the real estate and has no part of the execution of the Real Estate Sales Contract. The Real Estate Sales Contract will solely be executed between the Seller’s and Buyer’s Agents. The winning Bidder, known as (“Purchaser”), on the real estate Property will be subject to all Texas Real Estate Laws upon signing of contract.
- Real Estate Sales Contract: The fully executed Real Estate Sales Contract shall control all Terms and Conditions of the sale and constitute the entire agreement between the Purchaser and the Seller. In the event of any conflict between these Terms and Conditions of Sale and the Terms and Conditions of such Real Estate Sales Contract; the Terms and Conditions of the Real Estate Sales Contract shall prevail. If for any reason the Purchaser fails or refuses to deposit the required funds or to execute the Real Estate Sales Contract immediately after the conclusion of the Auction, and no later than 24 hours after bidding has ended on the real estate property, the Seller and Auctioneer reserve the right to declare the Bidder and Purchaser’s rights forfeited and may re-sell the Property. NO CHANGES TO THE TERMS AND CONDITIONS OF THE REAL ESTATE SALES CONTRACT WILL BE PERMITTED. PURCHASER WILL BE REQUIRED TO ENTER INTO THE SALES CONTRACT “AS IS” ON AUCTION DATE. IN THE EVENT PURCHASER FAILS TO ABIDE BY THE TERMS AND CONDITIONS SET FORTH HEREIN OR IN THE RESPECTIVE AUCTION REAL ESTATE SALES CONTRACT EXECUTED IN CONJUNCTION WITH THIS AUCTION AND/OR SALE, PURCHASER ACKNOWLEDGES HE OR SHE SHALL FORFEIT ALL MONIES DEPOSITED WITH TITLE COMPANY.
- Survey: If the Seller does not have a current survey, and should the Purchaser require a new survey, it will be at Purchaser’s option and expense. Should the final survey show a greater or lesser number of acres than contained in the Seller’s Deed, the auction price will NOT be adjusted.
- Closing Cost(s):
- Seller’s Costs: At Closing, Seller shall pay any taxes due on the property as well as preparation of the deed, title insurance policy and overnight courier fees on behalf of the seller.
- Buyer’s (“Purchaser”) Costs: At Closing, Purchaser shall pay for all remaining closing costs including the fees for, recording costs of the deed, overnight courier fees on behalf of the Purchaser / Buyer, Escrow Agent’s closing fees and all additional sale or closing fees.
- Closing: Closing will be scheduled no later than 45 days after the executed Real Estate Sales Contract effective date. The Down Payment shall be in U.S. Funds and shall be held in a noninterest-bearing account (Escrow Account) by the Title Company pending completion of necessary closing procedures, after which the Purchaser shall be granted possession of the Property subject to any matters contained in the Title Commitment and the Real Estate Sales Contract. At closing, Purchaser shall pay the balance of the Total Contract Sales Prices, plus all closing costs and expenses associated with the closing, including, but not limited to, the cost of an on-the-ground survey, as applicable, and appraisal. If the Closing gets delayed, all terms and conditions set forth in this agreement and the Auctioneers and Seller’s agreement, will remain in full effect.
- Licensed Buyer Broker Guidelines: Upon the Closing of the transaction contained herein, Auctioneer shall be paid a commission pursuant to a separate written agreement between Auctioneer and Seller. If for any reason whatsoever (including the default of any party contained herein), the Closing hereunder does not occur, no later than 45 days after the Real Estate Sale Contract date, then no commission shall be due to the Buyer’s Agent or Broker.
E. Auction Disclaimer(s), Indemnity Agreement(s), and Miscellaneous
Each Bidder and, to the extent a successful Bidder becomes a Purchaser, each Bidder and Purchaser WARRANTS, UNDERSTANDS, ACKNOWLEDGES, REPRESENTS, AND AGREES WITH AUCTIONEER, SELLER, AND BROKER, THE FOLLOWING:
- That neither Auctioneer, Seller, nor Broker, nor any person, agent, representative, or employee of either of them, nor any person or entity acting or purporting act on behalf of any of them, has made or is making any representations, assertions, or guarantees of any nature whatsoever with respect to, relating to, or arising out of the property or the Auction to sell the property.
- That Purchaser, by becoming the successful Bidder at the Auction, is buying, taking, and accepting the property “AS IS, WHERE IS” AND “WITH ALL FAULTS.”
- That Auctioneer, Seller, and Broker have made no, and are not making any, WARRANTIES OR REPRESENTATIONS ABOUT THE PROPERTY OR ANY PORTION THEREOF TO PURCHASER (Except as expressly provided otherwise in the Final Real Estate Sales Contract or other documents signed at the conclusion of the Auction or at the Closing of the Sale of Property), EXPRESS, IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF CONDITION, TITLE, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE.
- That each Bidder and/or Purchaser, by entering a bid for the property, has had the opportunity to inspect, test, and examine the property, including title to the property, prior to the Auction to the full satisfaction of the Bidder and/or Purchaser, prior to the Auction, has had the opportunity to consult with any attorney, accountant, inspector, realtor, advisor, financial advisor, spouse, partner, or consultant of the Bidder and/or Purchaser’s choice in relation to any questions the Bidder and/or Purchaser may have or had regarding the property or the Auction or the Terms and Conditions under which the property was offered for sale at Auction to any Bidder and/or Purchaser.
- That, after Closing, the risk of liability or loss arising from or related to environmental issues (even if such issues arose prior to the Auction or Closing) shall be the sole responsibility of Purchaser, regardless of whether the environmental issues were unknown, known, or should have been known prior to the Auction or Closing.
- That Purchaser EXPRESSLY AGREES TO, AND DOES HEREBY, RELEASE, INDEMNIFY, AND HOLD HARMLESS AUCTIONEER, SELLER, AND BROKER FROM AND AGAINST OR RELATED TO: (a) Any latent defects associated in anyway with the property; (b) Any liability for environmental issues affecting the property, including liability under CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act), RCRA (Resource Conservation and Recovery Act), The Texas Solid Waste Disposal Act, The Texas Water Code, or any other Federal, State, or Local Law under which theories of liability may be asserted; (c) Liability arising as a result of Seller’s own negligence or the negligence of Seller’s Agents, representatives, or employees; (d) Products liability, theories of strict liability, or under New Laws (or changes to existing rules and laws) enacted after the effective date of this Agreement that would otherwise impose liabilities for defects or environmental issues with respect to the property.
- That Seller has made available to Bidder and/or Purchaser for inspection copies of all Governmental Program Agreements applicable to the property.
- That for the purposes of the Auction, any Real Estate Sales Contract, and all Closing documents, if a statement relating to the property refers to the Seller’s “Knowledge” or “Belief,” then such terms shall be deemed to include only the current actual knowledge of the Seller, and shall not be deemed to imply that Seller, Auctioneer, or Broker has conducted any inquiry or investigation with respect to the subject matter of any statement that is so qualified. Each Bidder and/or Purchaser agrees that neither Seller, Auctioneer, nor Broker has any duty of inquiry or investigation to make any such statement and Seller, Auctioneer, and Broker shall have no liability to any Bidder and/or Purchaser for failing to discover whether a condition as to which such a qualified statement is made is true or exists, regardless of the level of effort or expense required to make such an inquiry.
- That the information regarding the number of acres in each tract(s) is an estimate and the actual acreage involved in each tract may vary from the estimate. Notwithstanding any estimates of acreage provided, neither Auctioneer, Seller, nor Broker make any REPRESENTATION OR WARRANTY THAT THE ACREAGE OF ANY TRACT(S) IS OF ANY PARTICULAR QUANTITY. All Bidders and/or Purchasers are advised to make independent investigation of the actual acreage involved in any and all tract(s) prior to submitting or placing a bid.
- That the Sales Price of any Final Real Estate Sales Contract resulting from the Auction will NOT be adjusted, based on any survey or appraisal obtained.
- That the only REPRESENTATIONS AND WARRANTIES MADE ARE THOSE CONTAINED IN THE FINAL REAL ESTATE SALES CONTRACT, OR CLOSING DOCUMENTS, IF ANY.
- That Auctioneer reserves the right to add and / or delete any property, acreage, and tract(s), reject any bid, and/or cancel the Auction prior to the execution of a Real Estate Sales Contract.
- That the information contained in this entire Agreement, and any materials, marketing, and/or advertisement provided in connection with the Auction, were obtained from sources deemed reliable. Although, reasonable precautions have been taken to ensure accuracy, neither the Auctioneer, Seller, nor Broker, nor any of their respective representatives, agents, or employees will be responsible for any errors or omissions contained in such information and/or materials. Auctioneer, Seller, and Broker, expressly DISCLAIM ANY WARRANTY OR REPRESENTATION REGARDING THE PROPERTY TO ANY BIDDER AND/OR PURCHASER. That, but for the Bidder and/or Purchasers Agreement to the foregoing, neither Auctioneer, Seller, and Broker would have offered the property for Auction to Bidder and/or Purchaser.
- Bidders and/or Purchasers should carefully verify all information and make their own decisions as to the accuracy thereof before submitting or placing a bid at the Auction. The Terms and Conditions of the Final Real Estate Sales Contract are controlling in the event of any perceived inconsistency between the Terms and Conditions and any statements in this Agreement.
- The Property is sold subject to easements, restrictions, covenants, conditions and zoning matters of record that would be revealed by a current survey and inspection of the Property and of public records. No personal property, other than fixtures attached to the Property, is included with the sale of the Property.
- If the Property is agricultural in nature, the Property may be subject to one or more government programs. Any allocations or payments attributable to governmental programs affecting the Property shall be prorated to the date of closing. All sums received prior to closing arising from any applicable government programs and cooperative or association memberships applicable to the Property will be retained by Seller.
- Purchaser agrees to assume all of the responsibilities of and fully perform all of the obligations of a program participant with respect to each and every governmental program affecting or applicable to the Property and, in this regard, further agrees to indemnify and hold Seller, Auctioneer, and Broker harmless from all obligations under such programs from and after the date of the closing of the sale of the Property. Furthermore, each Bidder and/or Purchaser will indemnify, defend, and hold harmless Seller, Auctioneer, and Broker from and against any and all claims, suits, losses, judgments, damages, and liabilities including any investigation, legal, and other expenses incurred in connection with, and any amount paid in settlement of, any claim, action, suit, or proceeding (collectively called “Losses”), to which Seller, Auctioneer, and Broker may become subject, if such Losses arise out of or are based upon action taken by such Purchaser or that should have been taken by the Purchaser with relation to the government programs.
- If Seller is transferring to Purchaser all or any portion of the mineral interests that Seller may have with respect to oil, gas, and other minerals that may be in, under, or produced from the Property, then such transfer is WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED. Any such transfer of mineral interests to Purchaser shall convey to Purchaser only the Seller’s presently existing right, title, and interest in and to any mineral interest, royalty interest, any leasehold interest that is attributable to the surface tract or tracts sold to Purchaser. Seller, Auctioneer, and Broker makes no representation or warranty regarding any ownership by Seller of any or all of the mineral interest, royalty interest, any leasehold interest that is attributable to the surface estate. Seller may or may not own any oil, gas or other mineral rights and it is therefore the obligation of Purchaser to conduct any investigation or examinations the Purchaser deems necessary to make an independent determination of what, if any, oil, gas or other minerals may be owned by Seller with respect to the surface tract being sold. If none or less than all of Seller’s oil, gas and other minerals are being transferred to Purchaser, then Seller expressly retains the Executive Right and surface rights (including rights of ingress and egress), production and drilling rights and all related benefits. Seller does not waive Seller’s surface rights (including rights of ingress and egress).
- Personal on-site inspection of the property is recommended and bidders are advised to independently verify all information they deem important. Inspection is by appointment. This Property is being sold “As-Is, Where-Is” and with “All Faults”. The Seller, Auctioneer, and Broker have not made, do not make and will not make, and hereby disclaim, any representation or warranty, whether expressed or implied or statutory, whether oral or written, with respect to the Property, including, without limitation, any warranty as to its value, condition, acreage, square footage, suitability, merchantability, marketability, operability, zoning or subdivision regulations, mineral rights, wind rights, environmental condition, fence lines or property lines or fitness for a particular use or purpose. No Guarantees are given as to the availability of utilities or accesses, or the permitted or allowable uses of the Property.
- Neither the Seller, its attorneys, any broker, nor the Auctioneer, shall be liable for any relief including damages, rescission, reformation, allowance or adjustments based on the failure of the Property, including, but not limited to, amount of acreage, square footage, zoning, and environmental condition to conform to any specific standard or expectation, or any third-party documents or information.
- Attendance at Auction Site: Each person attending an Auction acknowledges that an auction site is a potentially dangerous place. Flammable, corrosive and pressurized substances will be present, heavy equipment is being operated and electric circuits may be live. Each person attending an Auction at an auction site before, during or after the Auction shall be deemed to be there at his or her own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties, and each Bidder shall notify such Buyer’s agents and employees of the foregoing. No person or entity shall have any claim against Auctioneer, its agents, any current or future land owners, employees or principals for any injuries sustained, or for any damages to or loss of property which may occur from any cause whatsoever at Auction site.
- This auction is a privately conducted event. Auctioneer reserves the right to deny any person approval to bid in the Auction.
- Back-up Bidders may submit a back-up bid form on the Property and will be contacted if the sale of the Property is not closed.
- The Auctioneer and Seller reserves the right to announce additional Terms and Conditions of the sale prior to or during the course of the Auction.
- Additional Terms: Auction items or property may be added to the Auction. In an emergency situation, Auctioneer reserves the right to remove any Auction item or property from the Auction. The information listed online or included in any Auction brochure is only a guideline and the accuracy of such information cannot be guaranteed. Bidder also agrees and understands by registering for an auction, the Bidder agrees to receive advertisements by email, regular mail, phone call or text message from Auctioneer or any of its agents or representatives. Bidder understands and agrees to any phone or text charges that may apply.
- Assumption; Waiver; Indemnity; Non-Sales: Bidder and/or Purchaser assumes all liability whatsoever resulting from the possession, use or disposition, demonstration, or testing of each Auction item, or real property, bidding on or purchased at Auction. Bidder and/or Purchaser hereby releases, waives, discharges and covenants not to sue Auctioneer and each of its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Released Persons”) of and from any and all claims, liabilities, losses or damages that Bidder and/or Purchaser may have or has ever had against any Released Person arising out of or relating to the auction items or property bid on or purchased at the Auction or use thereof, including without limitation, any liability or damage relating to injury to person or property. Bidder and/or Purchaser hereby agrees to indemnify, defend and hold Seller, Auctioneer, and Broker and its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Indemnified Persons”) harmless from any and all costs, expenses, damages and liabilities (including, without limitation, attorneys’ fees) incurred or sustained by, or imposed upon any Indemnified Person arising out of or relating to (i) the loading, transport, ownership, repair, maintenance (or lack thereof) and/or use of the Auction Items, and/or any property damage or bodily injury arising therefrom, or (ii) the enforcement of this indemnity by Auctioneer. In the event any auction item or property is deemed a “Non-Sale” by Auctioneer for any reason, Bidder and/or Purchaser’s sole remedy shall be an adjustment to or refund of Bidder and/or Purchaser’s invoice by an amount that shall in no event exceed the original purchase price of the adjusted auction item and Auctioneer shall have no additional liability to Bidder and/or Purchaser for any loss or damage arising from or relating to such “Non-Sale”.
- Governing Law and Venue: These Terms and Conditions will be governed by and construed under the laws of the State of Texas.
- Claims and Choice of Venue: Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Denton County, Texas, or in the Federal District Court of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts. You agree that all claims instituted by you will be litigated on an individual basis, and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney’s fees.
F. Auctioneers Disclosure
- The Auctioneer is acting exclusively as the agent for Seller in this transaction and is to be paid a fee by Seller pursuant to a separate written agreement between Seller and Auctioneer. The Auctioneer is not acting as an agent in this transaction for the real estate. Any third-party broker is not a subagent of Auctioneer or buyer agents.
- Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter.
- For questions, please contact Auctioneer, Cory Kiefer at: (903) 821-8717 or (940) 391-9111 or email@example.com | www.kieferauctions.com
- Auctioneer is licensed by the Texas Department of Licensing Texas License #16155
G. Equal Opportunity Clause
- All bidding is open to the public. The Property is available to qualified Buyers without regard to a prospective Buyer’s race, color, national origin, religion, sex, familial status, or physical handicap.
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