Questions about auction or Terms and Conditions?

Call Brent Stephens 706-442-5513 - Rusty Lane 478-455-1861 – Joe Lanier 912-531-7007

Real Estate Auction Terms and Conditions

ALL BIDDERS MUST READ THESE TERMS BEFORE BIDDING. BY BIDDING ON THE AUCTION YOU ACKNOWLEDGE YOU HAVE READ AND AGREE TO THESE TERMS. IF YOU ARE THE HIGH BIDDER, YOU ARE REQUIRED TO CLOSE ON THE PROPERTY.

Deposit :The successful bidders will mail $5,000 as earnest money at the conclusion of the auction. All winning bidders will be required to sign a real estate auction contract. Buyer will owe the remaining balance at closing. A 10% buyer's premium will be added to high bid to arrive at the contract price.

***All REGISTERED BIDDERS will be charged $1.00 to authorize their credit card upon registering for the auction. This $1.00 is just a hold and it will be refunded onto your card. *** 

***South Auction and Realty Inc. reserves the right to ask any registered bidder for a bank letter of credit prior to or during the bidding period. The bidders account may be suspended or turned off if the bank letter of credit is not received. South Auction and Realty may ask for the bank letter of credit on a per bidder and/or per property basis. ***

***South Auction & Realty Inc. shall have the permission and authority to charge 10% (with a cap of

$5,000.00) of the high bid on a specific property to the credit cards of any active bidders on that specific property. This will only apply to bidders who are participating on the last day of the auction. This is a way of verifying the card will process the mandatory fee that is due from all high bidders. If you are not a high bidder on the last day we will credit the fee back to your credit card after the conclusion of the auction***

The winning bidders credit card will be charged 10% of their high bid at the end of the auction for each property in which they are the winning bidder on. This initial charge will be capped at $5,000.00 per property. BUT the 10% buyer’s premium will still be applied to the high bid. There is no cap on the buyer’s premium. Example – High bid - $20,000 - Credit Card will be charged $2,000.00 (10% of high bid)

High bid - $40,000 – Credit Card will be charged $4,000.00 (10% of high bid)

High bid - $100,000 – Credit Card will be charged $5,000.00 (cap charge) This charge WILL NOT be refunded if the high bidder does not close on the property.

This charge will then be credited back the buyers credit card once their earnest money check has been received. South Auction and Realty Inc. will not be able to access or view any personal information and/or credit card information of any registered bidder. All transactions are handled through a third-party processor. If you have done business with us before we may elect to wave this automatic charge.

Please call Brent Stephens (706-442-5513) for more details.

Contract and deposit must be mailed within 24 hours to:

South Auction and Realty

338 East Main Street

Swainsboro, GA 30401

Broker Participation: (2%)…… (of SAR commission), is available to registered brokers if approved by SAR. SAR will NOT pay a commission to a broker who is representing themselves or an immediate family member. Broker Participation form is available at southauction.com

Closings: All closing costs and survey costs(if a survey is needed) are paid by the buyer. All real estate transactions will close on or before August 28, 2020. If a  survey is required, the property will close 14 days after the completion of the survey.

Richard McNeely PC, Swainsboro, GA will close property 103, 104, 105, 106

John Murphy PC, Louisville, GA will close properties 102

Matt Matthews PC, Statesboro, GA will close properties 107, 108, and 109

Marty Harvey PC, Barnwell, SC will close property 101

SPECIAL NOTE: Properties 103 - 106 will be conveyed by limited warranty deed.

Special Stipulations:

2.       ALL ACREAGE REFERENCED IN BROCHURE, ON SIGNS, AND ONLINE ARE ESTIMATED ACRES.

3.       SOUTH AUCTION AND REALTY INC. NOR THE SELLER GUARANTEES THAT EACH AUCTION SIGN IS ACCURATELY PLACED ON THE PROPERTY BEING SOLD.

4.       ALL SELLERS HAVE THE RIGHT TO ACCEPT OR DECLINE ANY HIGH BID. ALL BUYERS WILL BE NOTIFIED WITHIN 3 BUSINESS DAYS IF THEIR BID IS ACCEPTED.

5.       PLEASE CONTACT THE AUCTION COMPANY BEFORE INSPECTING THE PROPERTY. ALL INSPECTIONS ARE AT YOUR OWN RISK.

8.       Any personal internet connection failures during the auction are the responsibility of the bidder. The auction will continue as normal and the item will be sold.

9.       The auction company shall not be held responsible for any "missed" bids or bids unseen by the auctioneer. The bids are received immediately when they are entered. If you have a question pertaining to your bid, please contact the auction company.

10.                      ALL SALES ARE FINAL.

11.                      By bidding on any item, the bidder shows acceptance of the terms of the auction and is responsible for closing on the property if they are the high bidder when the auction time has expired.

13.                      All property is sold AS IS, and ALL SALES ARE FINAL. Property is open to thorough public inspection. It is the Bidders responsibility to determine condition.

14.                      This auction has an EXTENDED BIDDING feature. This simply means, if there is a bid placed on any property within the last 5 minutes of the auction that will trigger the extended bidding feature on ALL properties. . The bidding on ALL properties will remain open until the bidding is quiet for 5 minutes on all properties. Please call with questions.