Terms for Items:
1. All property is sold as is and it is the bidders responsibility to determine the exact condition of each item. Printed statements or descriptions by staff are provided in good faith and are matters of opinion.
2. All accounts must be settled at the conclusion of the auction. All Bidders agree to pay a buyers premium equal to Ten Percent (10%) of the hammer price of each item they purchase. (3% added to credit card purchases). State sales tax law, if applicable, will be applied.
3. TERMS AND CONDITIONS OF THE AUCTION: By registering to bid or placing a bid you agree to be bound by all of these terms & conditions and any other announced terms and conditions of sale or rules of the site.
4. In order to better serve our customers, all bidders must provide their name, address, daytime phone number, and email address at which they can be contacted. This is to insure good communication between R2BA and the bidder throughout any transactions. It is the Bidders responsibility to determine condition, age, genuineness, value or any other factors. R2BA Auction Company LLC shall endeavor to describe in detail each item and any pertinent information about an item. R2BA Auction Company LLC. will not be responsible for any errors or omissions in the description of the merchandise. Bidders agree that everything is sold as is/where is and that they may not return any item they purchase for any reason.
5. The purchaser agrees to pay all reasonable attorney fees and costs incurred by the auction company in the collection of funds. The purchaser also agrees that a fee of 2% per month be added to the balance of any unpaid balance due the auction company and any other costs or losses incurred by the purchasers failure to adhere to these terms.
6. The auctioneer has the sole discretion to advance the bidding and may reject a nominal advance, should it, in his estimation, prove injurious to the auction. The auctioneer shall be the final judge in all bidding disputes and shall name a bidder as the purchaser. Should a tie or a dispute arise between two bidders, the auctioneer may, at his discretion, reopen the bidding until the property is sold.
7. R2BA Auction Company LLC shall not be held responsible for any bids or bids unseen by the auctioneer. R2BA Auction Company LLC is providing live bidding as a service to the Bidder. Bidders. Under no circumstances shall a Bidder have any kind of claim against R2BA Auction Company LLC. R2BA Auction Company LLC will not be responsible for any missed bids from any source. R2BA Auction Company LLC reserves the right to withdraw or re-catalog items before or during this auction.
8. All sales are final. All items are sold “AS, IS”. When the auctioneer declares an item it becomes the property of the buyer and at that time the buyer assumes full responsibility of the merchandise. Items must be paid in full before possession is granted to the buyer.
9. The bidder shows acceptance of the terms of the auction by bidding on any item.
Bidder agrees that this agreement shall be governed by the laws of the state of Texas and hereby grants sole jurisdiction and agrees to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction. Bidder agrees and grants that service of process on them may be obtained by mailing a certified letter, containing a summons, postage prepaid, to them at the address they provided to register. Should a dispute arise between R2BA Auction Company LLC. and a Bidder, Bidder waives any right to a trial or hearing in a court of law and agrees to settle the dispute through binding arbitration in Texas.
10. R2BA Auction Company LLC, may refuse a buyer’s number to anyone for any reason.
11. All announcements made day of auction take precedence over any and all written or verbal statements.
12. ALL SALES ARE FINAL. While descriptions are believed correct, the auctioneers or owners make no warranties or guarantees as to genuineness, authenticity of, or defect of any items and will not be held responsible for advertising discrepancies or inaccuracies. All sales are final when awarded to the successful bidder. Bidder further agrees that under no circumstances will he/she initiate a charge back on his/her credit card.
13. On auction day the no phone calls will be answered please get all questions in before auction day.
Property Details & Terms:
LAW: These properties are offered for sale according to the Laws of the State of Texas. Chris Cantrell (auctioneer) is licensed with the Texas Department of Licensing and Regulation (#17971) Jaime Wester is licensed through the Texas Real Estate Commission (#662710). The seller is represented by Coldwell Banker Realty and R2BA Auction Company LLC. Buyer will be required to acknowledge such agency.
DATE & TIME: Saturday March 21, 2020 at 12:00 p.m.
LOCATION: Auction will be held, on-site, at 604 Main Street in Lake Dallas, TX.
TRACT 1: A0924A MEP & PRR, TR 73 .5795 ACRES. 3,500 SQFT. Built in 1980. Zoned C-2 and residential.
TRACT 2: A0924A MEP & PRR, TR 74 .993 ACRES. 1600 SQFT. Built in 2002. Warehouse/RV storage and carport.
COMBINE TRACT 1 & 2
AUCTION: The Auctions, open to registered bidders and their guests, will be conducted by an Auctioneer with live bidding, on-site at the physical address of the property. Absentee and telephone bids will be accepted for those that are unable to attend in person. The properties are being offered for sale by “Seller Confirmation”, therefore the auction process will not be complete until the Auctioneer announces the property as SOLD.
REGISTRATION: All prospective Buyers in attendance must complete a registration form prior to OR on the morning of the auction. Registration will open at 9:00 a.m. the day of sale. A bidder number will be provided the day of the auction. A registered bidder number is required to participate in the auction.
REAL ESTATE AGENTS: Any Real Estate Broker/Agent actively licensed in the State of Texas who properly Co-Registers a successful Buyer will be paid a 2% commission of the auction strike price at closing by the Seller. Broker/Agent Co-Registration with a Buyer must be completed 24 hours prior to the scheduled starting time of the Live Auction. Broker/Agent
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must attend the Live Auction and be present upon the execution of the Sales Contract to be eligible for the commission. A Real Estate Broker/Agent is not eligible for a Commission when participating as a Buyer/Principal in the purchase of a property, retains any ownership in the Real Estate Firm named at Registration or represents a Buyer that is an immediate family member.
CONDITIONS: The property is sold “AS IS, WHERE IS” with all faults, if any. No warranty or guarantee of any kind, either expressed or implied, is made with respect to each property. Buyers acknowledge they have inspected the property and are buying it in its present condition. All announcements made on sale day by the Auctioneer will hold precedence over any previous printed material or any other oral statements.
BIDDING PROCEDURE: Opening bids for each track will be $200,000.
BIDDING DISPUTES: In the event of a dispute between two or more bidders, the Auctioneer at his own discretion may open the bidding again only between the parties in dispute. It is the responsibility of the disputing party to advance the bid with the Auctioneer presiding. If there is no advance in the bidding the property will be sold to the person whom the Auctioneer recognized with the last bid.
TERMS: A 8%, non-refundable Buyers Premium will be added to the successful bidder’s high bid. The Buyer’s Premium will be paid the day of the auction, serving as your deposit, payable to R2BA Auction Company LLC in cash or cashier’s check. A personal or company check will be accepted only if accompanied by a bank letter of guarantee. Balance will be due at Closing in 45 days. Buyer is responsible to attain his/her own financing prior to closing. Inability to close on that day will forfeit any and all deposits, earnest money and/or buyer’s premium, as it will be considered earned with no recourse available for recovery.
CLOSING: The Seller will be responsible for the following expenses of conveyance: Attorney’s Fees, Deed Preparation, Pro-Rated Ad Valorem Taxes and Courier Fees. The Buyer will be responsible for: Survey, Title Insurance, Title Search, Recording Fee and Pro-Rated Ad Valorem Taxes. Carly Harrison, escrow agent for Fidelity National Title, Denton, Texas (940.382.8200) will conduct the closing.
SURVEY: The Auction will be conducted utilizing the preliminary layout that has provided in the property photos. Buyer will be required to order and purchase a survey prior to closing. The survey will be surveyed by “metes and bounds” after the conclusion of the auction and prior to the closing. The final survey may have a differential of .25 acres for every 10 acres. No price adjustment will be considered unless acreage differential exceeds .25 acres for every 10 acres. Fence lines are often used as guides to determine the property boundaries for division into tracts; however, the final survey may differ slightly from the preliminary and aerial layouts provided in the sales information.
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TAXES: County and State of Texas taxes are current to date. Current year taxes will be prorated between Buyer and Seller.
RESALE: Any Buyer failing to comply with the above stated conditions that shall cause the property to become the subject of resale shall be obligated to pay any and all costs associated with the resale of such property. In the event of a resale, the Buyer will be obligated to any negative balance in addition to attorney’s fees that may occur as every legal remedy will be utilized for the recovery of any loss as a result of default by the Buyer.
CAUTION: All attending the Auctions do so at their own risk. Prospective buyers and spectators are cautioned to be careful while on each property. Neither R2BA Auctions, auctioneers, staff, sellers nor any other person connected with this sale assumes any liability, legal or otherwise, for the safety of any individual while on the premises.
BUYER’S PREMIUM: The Buyer’s Premium will be paid the day of the auction in cash, cashier’s check or money order payable to R2BA Auction Company LLC. A personal or company check will be accepted only if accompanied by a Bank Letter of Guarantee.
NOTICE: This property will not be pre-priced and will not be sold prior to March 21, 2020. As a prospective buyer, you are guaranteed your opportunity to purchase this property on March 21, 2020.
DISCLAIMER: The seller reserves the right to postpone, cancel or change the terms of the auction upon announcement prior to the auction. Announcements made before the auction supersede all printed material. All dimensions, descriptions, acreage and square footage is deemed to be accurate but is not guaranteed. Coldwell Banker Realty and R2BA Auction Company LLC shall not be responsible or liable in any way if the seller fails to honor any bid, refuses to, or can not close title in accordance with the winning bid.
PREVIEW: Property may be viewed by appointment only. Contact Jaime Wester to schedule appointment. 817.996.0104