9. Settlement must take within the advertised time period. Accordingly, secure any necessary financing and select a settlement agent immediately. If you do not identify a settlement agent within five (5) days of the auction sale, you will have selected the settlement agent selected in the Sales Contract. The failure of a purchaser to settle on or before the Settlement Date identified in the 10. Sales Contract will amount to a default. See Paragraph The deposit may not be the full extent of liability for a defaulting purchaser. Consult an attorney of your choosing prior to making a bid. 10. Century and the seller, in addition to asserting all remedies available by law, including the right to hold the defaulting purchaser liable for the agreed purchase price, may: Cancel the sale, retaining the Deposit made by such defaulting purchaser as • liquidated damages to be distributed between Century and/or the seller in accordance with a separate agreement; OR Remarket and resell the property without Reserve at public auction or privately on ten (10) • days notice to such purchaser. If Century resells the property, the defaulting purchaser agrees that he or she will be liable for payment of any deficiency between purchase prices, plus all costs and expenses of the original auction sale and the re-sale, reasonable attorneys' fees, incidental damages and all other related charges. 11. By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders consent to binding arbitration for all disputes except those concerning the forfeiture of a deposit due to a failure to close (which may be handled in a summary fashion by Century). 12. By placing a bid either in person or online, auction participants acknowledge and agree to be bound by all terms and conditions of the auction sale. REAL ESTATE CONTRACT OF SALE I/We (“Purchaser”) have this day of , 20_ , agreed to purchase the property as (the “Property”) which may or may not be subject to ground rent, from (“Seller”). The Terms and Conditions of this sale are hereby incorporated herein by reference.
9. Settlement must take within the advertised time period. Accordingly, secure any necessary financing and select a settlement agent immediately. If you do not identify a settlement agent within five (5) days of the auction sale, you will have selected the settlement agent selected in the Sales Contract. The failure of a purchaser to settle on or before the Settlement Date identified in the Sales Contract will amount to a default. See Paragraph 10. The deposit may not be the full extent of liability for a defaulting purchaser. Consult an attorney of your choosing prior to making a bid. 10. Century and the seller, in addition to asserting all remedies available by law, including the right to hold the defaulting purchaser liable for the agreed purchase price, may: • Cancel the sale, retaining the Deposit made by such defaulting purchaser as liquidated damages to be distributed between Century and/or the seller in accordance with a separate agreement; OR • Remarket and resell the property without Reserve at public auction or privately on ten (10) days notice to such purchaser. If Century resells the property, the defaulting purchaser agrees that he or she will be liable for payment of any deficiency between purchase prices, plus all costs and expenses of the original auction sale and the re-sale, reasonable attorneys' fees, incidental damages and all other related charges. 11. By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders consent to binding arbitration for all disputes except those concerning the forfeiture of a deposit due to a failure to close (which may be handled in a summary fashion by Century). 12. By placing a bid either in person or online, auction participants acknowledge and agree to be bound by all terms and conditions of the auction sale. REAL ESTATE CONTRACT OF SALE I/We (“Purchaser”) have this day of , 20_ , agreed to purchase the property as (the “Property”) which may or may not be subject to ground rent, from (“Seller”). The Terms and Conditions of this sale are hereby incorporated herein by reference.
Paul%27s%20Sealed%20Bid%20Packet_0.docx