R.C. Burkheimer & Associates
REALTORS-AUCTIONEERS-APPRAISERS
"Tri-State's Foremost Auction Firm"
410-920-2228

Terms and Conditions
of Auctions, Sales and Trustee Sales

Starting Times                       
Please be at the particular auction promptly at the appointed time and place as advertised.  There will be a brief explanation of the auction process and terms & conditions before each property is sold.  A round of bidding begins when the Auctioneer opens the bid and concludes by saying "going once, going twice, going three times, sold."




Registration/Deposit/Successful Bidder
Although there is no obligation to bid, all prospective buyers must register in order to bid at the auction.

The successful high bidder on each property will be required to sign an Earnest Money Contract immediately upon conclusion of the bidding verifying the amount bid and the property purchased. The successful high bidder will be escorted to the contract signing room where he/she will endorse a certified or cashier's check to the seller or "Title Company" in the amount specified.  Each sale will close as specified in the Purchase and Sale Agreement, at which time each Purchaser will pay the balance of the purchase price. Specific closing dates will be by each specific Purchase and Sale Agreement.  If the buyer is unable to complete transaction according to these terms for any reason, the buyers deposit shall be forfeited and legal action may be instituted.

Property is being sold free and clear of liens, however the buyer is responsible for having the title searched. If any liens are discovered they will be paid from the proceeds of the sale at the time of closing.

Taxes and rents are prorated to date of closing. Buyer will pay for preparation and recording of the deed.

Conditions
The Auctioneer's decision is final in the event of a dispute over any matter. The Auctioneer reserves the right to accept bids in any increments he feels are in the best interest of his clients, and reserves the right to waive any previously announced requirements. All announcements from the auction block supersede any printed material or any other statements made previously. The Auctioneer reserves the right to withdraw any property from the auction, without penalty, with the approval of the seller.

All sales are final. No claim will be considered for allowance adjustment or rescission of any sale based on failure of the property to correspond to any particular standard of exception.

You are urged to inspect the property before the auction. The information contained in any advertisement is subject to inspection and verification by all parties relying on it. No liability for the accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agents. Any listing may be withdrawn or modified without notice at any time. ALL ACREAGE, SQUARE FOOTAGE, DIMENSIONS, AND PROPERTY DATA ARE APPROXIMATE.  No warranties or guarantees are expressed or implied unless otherwise offered or stated by the seller. All dimensions and descriptions are based upon information supplied to the auctioneer, owners and their agents and are subject to possible variation. Seller does not warrant that the existing structure meets any current city, county, state or federal building code, including with limitation, building code provisions having to do with electrical, plumbing, heating, sewage, roof or structure. Purchaser assumes responsibility to check with appropriate planning authority for intended use and hold broker, Auctioneer and/or seller harmless as to suitability for purchaser's intended use.

Call in a Bid

Phone-In Bids
Contact Auctioneer for instructions prior to date of auction.

Financing Information
Mortgage financing is available to qualified buyers on most properties. Please contact R. C. Burkheimer & Associates on each property for further details.

Broker Participation
Cooperating brokerage is encouraged with licensed real estate agents. The Cooperating Agent must attend the auction with his/her customer.  A 1% commission will be paid to the licensed real estate broker, whose prospect pays and closes on the property. To qualify for the commission, the real estate broker must:

(a) be a licensed real estate broker who (i) is not prohibited by law from being paid such commission, and (ii) who will abide by the National Association of Realtors Code of Ethics.

(b) First register the prospect by  mail or fax, including original signatures of both the broker and the prospect. Such Broker Registrations must be received by R. C. Burkheimer & Associates, on or before the fifteenth day prior to the auction. Neither Seller nor Auctioneer is responsible for delay or failure to meet the deadline if Broker relies on any method of delivery.

(c) Attend the Auction with the prospect(s).

A complete registration file on all prospects will be maintained. No broker will be recognized for a prospect who has been previously contacted by the Seller or its representatives. Commissions will be paid upon closing by the Seller. No commission will be paid by the Seller if the Broker or member of his/her family is participating in the purchase of the property as a principal and an affidavit will be required that the agent is serving only as a broker and not as a principal.

IF A COOPERATING BROKER HAS NOT MET ALL OF THESE REQUIREMENTS, NO COMMISSION WILL BE PAID TO THE COOPERATING BROKER, EVEN IF THEIR PROSPECT PURCHASES A PROPERTY.

Inspection/Open Houses
Most of the properties will hold an open house prior to each actual date and time of the sale on the property. Contact R. C. Burkheimer & Associates for the times and dates of each open house or to set up an appointment. On the day of the auction most properties will be opened prior to the auction for inspection.

An information package (as amended or supplemented) for the Property to be sold at the Auction may be obtained by the prospective bidder. A Bidder's Package may contain the following types of information regarding such property: (a) Survey, Site Plans and/or Tract Maps (b) Property Tax Information (c) Preliminary Title Commitment, as available (d) Sample Purchase and Sale Agreement.

These packages are not designed to replace the bidder's own due diligence efforts with respect to Auction Properties.

Occupied/Leased/Cooperative Properties
Some of the properties are occupied. These properties will be sold subject to any occupancies. Every reasonable effort will be made to make occupied or unoccupied properties open for inspection prior to auction day, on the days and times stated herein; however, no sale will be contingent upon inspection of properties after the auction. All leased properties will be sold subject to existing leases. Occupied properties will be sold subject to tenant's rights according to state and local statutes. All Cooperative buildings will be sold subject to the approval of the respective Cooperative boards.


Auction Information
For information on any properties within public offering, you may contact the auction company.


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