Full Conditions of Sale for 642 Stocking Street

TERMS AND CONDITIONS

ALL PROPERTIES ARE SOLD IN "AS IS" CONDITION UNLESS OTHERWISE STATED. ALL INFORMATION PROVIDED IS FROM SOURCES BELIEVED TO BE CORRECT BUT IS NOT GUARANTEED. ALL PROPERTY DIMENSIONS ARE ONLY APPROXIMATES. BUYERS SHALL RELY ENTIRELY ON THEIR OWN INFORMATION, JUDGMENT AND INSPECTION OF THE PROPERTY AND RECORDS.

 

1. EVIDENCE OF TITLE: SELLER SHALL FURNISH TITLE INSURANCE COMMITMENT. IF CLEAR TITLE CAN NOT BE INSURED, BUYER IS NOT OBLIGATED TO BUY. TITLE INSURANCE IS AVAILABLE AT BUYER'S EXPENSE.

2. POSSESSION: ZERO (0) DAYS AFTER CLOSING OR SUBJECT TO TENANTS RIGHTS.

3. DEED: SELLER SHALL CONVEY TO BUYER MARKETABLE TITLE.

4. TAXES & ASSESSMENTS: AT CLOSING SELLER SHALL PAY OR CREDIT PURCHASE PRICE ALL DELINQUENT TAXES, INCLUDING PENALTY & INTEREST, AND ALL ASSESSMENTS WHICH ARE LEIN ON THE DATE OF THE CONTRACT.

5. RENTALS, INTEREST, CONDOMINIUM CHARGES, INSURANCE, UTILITIES AND SECURITY DEPOSITS: ADJUSTMENTS SHALL BE MADE THROUGH THE DATE OF CLOSING.

6. DAMAGE & DESTRUCTION OF PROPERTY: RISK OF LOSS TO THE REAL ESTATE AND APPURTENANCES SHALL BE BORN BY THE SELLER UNTIL CLOSING.

7. FIXTURES & EQUIPMENT: THE CONSIDERATION SHALL INCLUDE ALL FIXTURES.

8. DEPOSIT: A DEPOSIT OF 10% TO BE WIRED FOR PROPERTY PURCHASE WITHIN 24 HOURS OF SALE TO BE DEPOSITED WITH BROKER/AUCTIONEER. DEPOSIT SHALL BE RETURNED TO THE BUYER IF NO CONTRACT IS ENTERED INTO. UPON ACCEPTANCE OF CONTRACT BY BOTH PARTIES, BROKER/AUCTIONEER SHALL DEPOSIT SUCH AMOUNT IN HIS TRUST ACCOUNT TO BE DISBURSED SUBJECT TO COLLECTION BY BROKER'S DEPOSITORY AS FOLLOWS: (A) IF SELLER FAILS OR REFUSES TO PERFORM, THE DEPOSIT SHALL BE RETURNED TO BUYER. (B) DEPOSIT SHALL BE APPLIED TO PURCHASE PRICE OR RETURNED TO THE BUYER WHEN TRANSACTION IS CLOSED, (C) IF BUYER FAILS OR REFUSES TO PERFORM, DEPOSIT IS NON­REFUNDABLE AND PAID TO THE SELLER.

9. CLOSING: ALL PROPERTIES SHALL BE CLOSED WITHIN THIRTY (30) DAYS FROM THE DATE OF ACCEPTANCE UNLESS OTHERWISE AGREED TO IN WRITING BY BUYER AND SELLER.

10. BUYER'S PREMIUM: THERE IS A 5% BUYER'S PREMIUM ADDED TO THE PURCHASE PRICE AND A BUYER'S TRANSACTION FEE OF $325

11. NO INTERIOR ACCESS: BUYER UNDERSTANDS SOME PROPERTIES HAVE TENANTS SO NO INTERIOR ACCESS AVAILABLE. ACCESS WILL ONLY BY AVAILABLE AFTER CLOSING.

12. INSPECTIONS: BUYERS MAY PERFORM DRIVE BY INSPECTIONS ONLY. ALL PROPERTIES ARE BEING SOLD "AS-IS" AND THERE IS NO RIGHT TO RESCIND THE CONTRACT FOR ANY DEFECTS THAT MAY BE FOUND.

13.  COOPERATING BROKER FEE: ALL LICENSED REAL ESTATE AGENTS MUST REGISTER THEIR BUYERS BEFORE THE AUCTION STARTS FOR THAT PROPERTY. PLEASE EMAIL BOB@CASSELAUCTIONS.COM WITH YOUR BROKER INFO AND BUYER'S NAME AND CONTACT INFO. THERE WILL BE A 3% BUYER BROKER FEE PAID.

14. PROPERTY DESCRIPTION:INFORMATION IN THE PROPERTY DESCRIPTION IS FROM MULTIPLE SOURCES AND IS NOT GUARANTEED.

15. All bids are pending 24 hour secured party approval.