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Auction Terms, Conditions & General Information Buyer’s Premium: A 10% buyer’s premium will be added to the high bid to determine the final contract selling price. Auction Method: The 6-plexes and lots will be auctioned on an individual basis and total package whereby bidders will have an opportunity to buy a single unit or lot, multiple units or lots, and the entire property. Down Payment: Buyer(s) shall make a down payment equal to 10% of the contract selling price immediately following the auction. The down payment may be made by certified check or a good personal check. Closing: Closing shall occur on or before June 30, 2006. Inspections: Auctioneers will be on site Wed., May 10th from 2—4 PM and beginning at 9:30 AM on day of sale for pre-auction inspection. Conditions of Sale: The property is being sold in “as is” condition with no conditions or contingencies of any kind. Any inspections, etc. welcome but must be completed prior to auction and is not a condition of sale. Current lease agreements with existing tenants shall be transferred to and assumed by the buyer(s). Rental income paid or due shall be prorated between seller and buyer(s) as of date of closing. Bidding Methods: On site bidding is encouraged. However, for those unable to attend the auction, bids may be submitted by written authorization, or telephone. Pre-auction internet bidding is available through our web site. Bidder validations and deposits may be required. See web site for details. Broker/Agent Participation Welcome: A Broker or agent whose client is the buyer of the real estate may be entitled to a 3% broker participation fee. Agents must register their clients by 4:00 PM Friday, May 19th. The agent/ client registration for may be obtained from the web site or by contacting the auctioneers. Subject to sale prior to auction. Terms announced day of sale take precedence over pre-published terms.
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