Terms: Real Estate- 20% down at bid closing, Balance due in 30 days!! 10% buyer
premium added to final bids! Terms for Personal Property- Payment in full at pick-up.
13% Buyers Premium (3% discount for cash or good check) and applicable GA Sales Tax
added to final bid.
Ultimate Choice Bidding System: Properties with
more than one tract will be offered in single tracts, combinations of tracts or as a
whole. Bidders may bid on individual tracts even when they are assembled in groups.
When a group of tracts has been disassembled by someone bidding on an individual
tract, the top bidder for the group is no longer obligated as high bidder. The
remaining tracts in the group revert back to the original bidders before the group
was assembled. As a result, an original bidder may be in the winning position again.
Once you have bid on a property, always check your position by going to all bids
on the bidding page. You will receive a notice by e-mail or text, (your choice when
registering) stating you have been outbid or still in the winning position. If you
decide to bid on different tracts in the auction always check to see that you have
been outbid on an individual tract basis (original tract you placed a bid) or you may
be put in the winning position on more than one tract at the same time. As long as
your original bid has been raised on a tract, you can move to another group or tract
without being put into the winning position on multiple tracts at the same time. If
you have questions regarding the Ultimate Choice bidding process, please contact the
Contract for Sale of Real Property: Each property is offered
under the specific terms provided in the contract. The Contract for Sale of Real
Property is available at www.pottsbrothers.com, in the pre-bid package located from
within the files tab. Please read and review the contract thoroughly prior to
bidding on any property. If you have not read and reviewed the Contract for Sale of
Real Property and all other materials available plus completed your own due
diligence to satisfy all questions, please Do Not Bid!
Range Minimum $1,000.00 Range Maximum $2500.00 =
Range Minimum $2,500.00 Range Maximum $10,000.00 =
Range Minimum $10,000.00 Range Maximum $50,000.00 =
Increment $ 500.00
Range Minimum $50,000.00 Range Maximum $100,000.00 =
Range Minimum $100,000.00 Range Maximum $250,000.00 =
Range Minimum $250,000.00 Range Maximum $500,000.00 =
Range Minimum $500,000.00 Range Maximum $3,000,000.00+ =
Potts Brothers Land and Auction, LLC has the sole
authority to resolve any bidding disputes as they may arise.
End Times: Potts Brothers Land and Auction, LLC Online Only Real Estate Auctions are
timed events and subject to extended bidding due to bidding activity. Potts Brothers
Land and Auction, LLC reserves the right to adjust the auto extension time
Example: Potts Brothers Land and Auction, LLC Online Only
Real Estate Auction have an auto extend feature. Any bid placed within 10 minutes of
the auction ending will automatically extend the auction for 10 minutes from the time
the bid is placed.
Example: If an auction scheduled to end at 10:00
a.m. receives a bid at 9:59 a.m., the close time of the auction automatically extends
to 10:09 a.m. The auto-extend feature remains active until no further bids are
received on the entire bidding group of properties within the 10 minute time frame.
Potts Brothers Land and Auction, LLC reserves the right to adjust the auto extension
Bidder Verification: The identity of bidders will be
verified, bidding rights are provisional, and if complete verification is not
possible, Potts Brothers Land and Auction, LLC will reject the registration, and
bidding activity will be terminated. The Seller and Potts Brothers Land and Auction,
LLC reserve the right to preclude any person from bidding if there is any question as
to the persons credentials, fitness, etc. Bidders agree to keep their user-name and
password confidential as they are responsible for ANY and ALL activity involving
their account. When using the website, you must obey any and all local, state, and
federal laws. Violations will result in termination of website use
Terms: At the close of the auction, successful bidders
will be emailed the contract package to execute and return to Potts Brothers Land and
Auction, LLC. Successful bidders will deposit escrow funds as listed on the contract
price in form of auction company approved check or wire transfer. The entirety of
the remaining balance is due at closing. Purchaser shall be responsible for all wire
Buyers Premium: A 10% buyers premium will be added
to the bid price on all properties to determine the final contract
10% Buyers Premium Example:
Plus 10% Buyers Premium: $
Total Contract Price:
Contracts: Contract Packages will be sent by e-mail from
Potts Brothers Land and Auction, LLC to the successful bidder, who must execute and
fax or email back to Potts Brothers Land and Auction, LLC within 48 hours of receipt.
Successful bidders not executing and returning their contract with earnest money
deposit within 48 hours of receipt will be considered in default and subject to an
Auction Administrative Fee: In the event a
winning bidder fails to submit the signed Contract for Sale of Real Property and
deposit earnest money deposit as provided in the pre-stipulated Auction Terms, the
winning bidder will be charged an administrative fee of $2,500.00 on the credit card
provided at auction registration. Additional default remedies are reserved by Potts
Brothers Land and Auction, LLC and the Seller as provided in the Auction Terms &
Conditions and the Contract for Sale of Real Property. All administrative fees are
Closing: Time being of the essence, these sales shall
be closed on or before 30 days from sale as listed on sales contract. The purchaser
will pay for all normal closing costs associated with the transaction, depending upon
the state where purchased. The ad valorem taxes will be the
Broker Participation: A two percent (2%) bid price
commission is available to properly registered brokers. A Broker Participation Form
with complete instructions is available at
Agency Disclosure: In all transactions, the
auctioneer is acting as agent for the seller, not as a buyers agent. Potts Brothers
Land and Auction, LLC reserves the right to remove or cancel the bids or bidding
rights and privileges of any party, deemed not to be in the best interest of the
seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves
the right to bid. On all other auctions, auctioneer reserves the right to bid on
auctioneers behalf when permitted by law.
New Data, Corrections and
Changes: Please check for updated information prior to scheduled auction time to
inspect any changes, corrections, or additions to the property information.
Disclaimer & Absence of Warranties: All information contained in this information
packet and all related materials are subject to the terms and conditions outlined in
the Contract for Sale of Real Estate agreement. The property is being sold on an AS
IS, WHERE IS basis, and no warranty or representation either expressed or implied,
concerning the property is made by the Seller or Potts Brothers Land and Auction, LLC
Agents or Representatives. All sketches and dimensions in the brochure are
approximate. Each potential bidder is responsible for conducting his or her own
independent inspections, investigations, inquiries, and due diligence concerning the
property. The information contained in the brochure and on the website is subject to
verification by all parties relying on it. No liability for its accuracy, errors, or
omissions is assumed by Seller, Potts Brothers Land and Auction, LLC, Agents or
Representatives. Conducting the auction and increments of bidding are at the
direction and discretion of the Auctioneer. All decisions of Potts Brothers Land and
Auction, LLC are final.
Any dispute between Potts Brothers Land and
Auction, LLC, its agents or Representatives and Buyer(s) will be tried in a court of
jurisdiction in Walker County, Georgia. By bidding on the property, buyer agrees to
all terms and conditions set forth.
Disclaimer: All information
contained herein is believed to be correct to the best of the auctioneers knowledge.
The information is being furnished to bidders for the bidders convenience and it is
the responsibility of the bidder to determine that information contained herein is
accurate and complete.
Any reliance on the contents shall be solely at
the recipients risk. Bidders must conduct and rely solely upon their own
investigations and inspections. The property is being sold AS IS with any and all
faults. Please review all information supplied, and seek appropriate assistance
prior to bidding.
Refresh your screen constantly during closing
minutes of the bidding.
Server & Software Technical Issues: In the
event there are technical difficulties related to the service, software or any other
on-line auction related technologies Potts Brothers Land and Auction, LLC reserves
the right to extend bidding, continue bidding or close the bidding. NEITHER THE
COMPANY PROVIDING THE SOFTWARE NOR POTTS BROTHERS LAND AND AUCTION, LLC SHALL BE HELD
RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR
ANY REASON. E-mail notifications will be sent to the email address provided in your
registration with updated information as deemed necessary by Potts Brothers Land and