REAL ESTATE AUCTION TERMS AND CONDITIONS
Thank you for attending today’s auction. Good luck!
All bidders must register acknowledging that they have read and agree to these “Terms and
Conditions” of the sale as outlined prior to bidding. It is important that you familiarize yourself
with the terms and conditions as all sales are final and irrevocable. The terms of sale are nonnegotiable.
Registration at the auction finalizes each bidder's agreement to the terms and
conditions of the sale. Do not bid until you have read the terms and conditions. Bidders may
register online to bid on the specific property in question. There is no fee to register although a
valid credit card will be required to verify identity and funds. By bidding you are
representing to Buck Up Enterprises, LLC., Buck Up Auctions, Buck Up Realty/My Real Estate
Expert, LLC., ("Agent" and/or "Auctioneer") and the seller that you have read and agree to be
bound by the terms and conditions for this sale as stated herein. If you do not agree with any of
the terms and conditions stated DO NOT BID or you will be bound by those terms and
conditions. By bidding you agree to all disclosures.
Auctioneer’s Note: Buck Up! Enterprises, LLC – dba Buck Up Auctions, in conjunction with My
Real Estate Expert, LLC./ Buck Up Realty, has been contracted to sell real property for the
Estate of Robert F. Barton.
SUMMIT ADDN. (518) LOT 3 0.241 HSE, GAR, C/PORT, BLDG, STG – FAYETTE CAD
SUMMIT ADDN. (518) LOT 4 .3362 14,649 SFT, NO BLDGS OR M H – FAYETTE CAD #
Auction Method: Online Bidding to open when Terms & Conditions are approved by
seller & property auction is uploaded to bidding platform. Online auction is scheduled to
end on September 5, 2017 at 7:00 PM – Central Time
As soon as the auction is exported you will be able to make an offer on the property. The
online auction will officially open for bidding on Friday, September 1, 2017 & close at
7PM on Tuesday, September 5, 2017. By Pre-Bidding BEFORE the online auction opens
for bidding, you are agreeing that you are willing to pay the price you enter. Auctioneer
and Bid Assistants will be available to assist you with app downloads, registering to bid,
& provide guidance, regarding the bidding process.
Inspection/Preview: All prospective buyers on dwellings must have a real estate professional with
them during preview. Please call to schedule. Scheduled property preview dates & times are as
follows: Saturday, August 26th from 10AM-4PM & Saturday, September 2nd from 10AM-4PM &
Sunday, September 3rd from 12PM to 3PM. Dates and times may be adjusted. Please call or text
Heather at 979.421.0325 to confirm or email at email@example.com
There is NO BUYERS PREMIUM in the sale of this property.
Announcements: All announcements made the day of auction take precedence over any and all
previously written advertisements or any prior written or verbal terms of sale. Updates and
announcements will be made via the bidding app & may be made throughout the offer and bidding
process. Seller reserves the right to withdraw property from auction at any time.
Earnest Money: Upon the completion of the live auction the winning bidder will immediately make an
earnest money down payment. The required down payment is $5,000.00 U.S. Dollars.
The earnest money will be made in the form of a personal (funds verified) or cashier’s check payable to
Botts Title Company in LaGrange, TX. The remainder of the purchase price is due upon closing.
BIDDING IS NOT CONTINGENT UPON FINANCING.
Proof of funds or Letter from your bank will need to be provided to Auctioneer/Agent, no later than
September 5, 2017 – 5PM. Bidding abilities may be denied until funds are verified.
Minerals: All owned mineral rights associated with this property will convey to the new buyer.
Documentation: Upon the completion of the auction the winning bidder will sign a contract and any
supporting documents once Auctioneer/Broker receives Sellers bid approval. The contract will be on
Texas Real Estate Commission and/or Texas Association of Realtors promulgated forms.
Completion of Purchase Documentation for Real Estate: The Auctioneer or Title Company shall
contact approved buyer, within 24 hours immediately following the close of the auction. Buyer shall have
two (2) days following the auction to return all completed Texas Association of Realtors (TAR) documents
or shall be subject to paying a liquidated damages amount equal to the down payment. If you wish to
have the purchase documents reviewed by an attorney, please contact Auctioneer PRIOR to the Auction
and we will provide them to you for review so as to not delay the post auction process.
Bidding Process: No bid may be withdrawn by a bidder once made to the Auctioneer or bidding
platform. All bids are an irrevocable offer to buy and shall remain valid and enforceable to until the
Auctioneers declares the property “sold” and the auction has concluded. The Auctioneer reserves the
right, but has no obligation, to bid on behalf of the seller. The seller has the right to accept or reject all
bids. The Auctioneer will control any increments of bidding. The bidder’s number is nontransferable.
Internet Bidding: This auction will feature online bidding. Bids may be taken from both online
bidders and bidders placing their max bid, allowing the platform to bid on their behalf. The sale
will be controlled both by the auctioneer personally and by the online bidding
program. Auctioneer and Bid Assistants will be available at scheduled preview days and day of
sale to assist with app downloads & bidding questions. Buck Up Auctions, My Real Estate Expert,
LLC., Buck Up Realty and its affiliates and assigns are not responsible for malfunctions or system errors
which cause a bid or bidder to fail to be recognized or registered. In the event of a dispute or loss of
internet bidding platform functionality, the online bidders and bidders that have placed a max bid, accept
that the auctioneer may re-open the bidding at the auctioneer's sole discretion and shall serve as the sole
arbiter as to who is or is not allowed to bid.
Acceptance of Bid Price: Seller has the right to accept and reject any and all bids or counter the high
bid of the property. The Seller is responsible to honor their bid until the seller rejects the high bid in
writing. Auction Company will make every effort to receive full acceptance upon the final bid of the live
auction. Seller may choose to extend the online auction, if the reserve price is not met.
Real Estate Taxes and Assessments: Property taxes for 2017 will be prorated to the date of closing.
The buyer(s) will be responsible for all taxes imposed after the execution of the General Warranty Deed.
Rollback Taxes: The buyer will be responsible for any “rollback” property taxes. Rollback taxes may
occur when the new buyer intends to use the property differently than it’s current use. An example: a
property being used for ag production changing to commercial use – non-ag related. Contact
Auctioneer/Agent for further explanation.
Closing: Will take place on or before October 20, 2017 at Botts Title Company in LaGrange, TX or as
soon as applicable closing documents, and due diligence has been completed.
Existing Leases: None
Possession: Buyer will take full possession upon closing and funding. Early possession will not be
granted prior to closing.
Title: A General Warranty Deed shall be executed by the Administrator of the Estate of Robert F. Barton,
conveying the real estate to the buyer(s). Seller shall furnish to Buyer at Seller’s expense an owner policy
of title insurance. Title will be issued by the selected title company in the amount of the sales price. In the
event that an issue arises when title is pulled. The seller will have 120 days to remedy the issue, or terms
agreed to between buyer and seller. In the event that the issue cannot be remedied, Seller will refund the
buyer’s premium (if applicable) & earnest money to buyer.
Easements and Leases: Buyer understands that the sale of the property is subject to all leases and
easements that are recorded.
Property Dwelling Type: Residential
Sewer and Water: City Utilities - The cost of connecting water service is the sole responsibility of the
Survey: Estate does have a survey on the property. This is in the Property Information Packet (PIP).
Buyers will be responsible for any additional survey costs desired or required. The advertised legal
description including but not limited to acreage, square footages, and any other measurements are
approximate and have been assessed based on Appraisal District records, aerial photos, or other reliable
sources. Information supplied by Auctioneer should not be deemed reliable and prospective buyer should
verify all legal descriptions and boundary lines.
Information of Brokerage Agency: Buck Up! Enterprises, LLC – dba Buck Up Auctions, in
conjunction with My Real Estate Expert, LLC./ Buck Up Realty and auction/realty personnel are
exclusive agents of the seller. An Information about Brokerage Services (IABS) form (TREC No. OP-K) is
supplied in the PIP package. Texas Law requires all real estate licensees to supply this form to all
prospective buyers, tenants, and sellers and landlords.
Broker Registration: Brokers/Agents must accompany their client at all showings & register their client
by 5:00 pm on the business day immediately preceding the close of the auction via the Broker
Participation Form, no exceptions. A commission of 3% of the total sales price will be paid to any
registered broker whose client purchases real estate at the auction and closes in full. It is the
responsibility of any agent representing a client to have completed and returned the Broker Participation
Form by the published deadline. No registration forms will be accepted at the auction. Brokers MUST
attend the auction with their client or be present as their client executes any online bidding. Broker must
also accompany their buyer to all previews and inspections.
Breach or Failure to Close (Default): If any conditions contained herein are not complied with by the
buyer, or the buyer fails to close in accordance with the Real Estate Contract of Purchase, the earnest
money deposit will be forfeited as liquidated damages. However, such forfeiture shall not preclude Buck
Up Auctions or the seller from enforcing additional remedies available as detailed in the Real Estate
Contract of Purchase.
Environmental Disclaimer: The seller and Buck Up! Enterprises, LLC. – dba Buck Up Auctions, My
Real Estate Expert, LLC./Buck Up Realty, agents, contractors, employees, affiliates and assigns do not
warrant or covenant with buyers with respect to the existence or nonexistence of any pollutants,
contaminants, mold, or hazardous waste prohibited by federal, state, or local law or claims based thereon
arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such
substances at, from or into the demised premises. Buyer is to rely upon their own environmental audit or
examination of the premises.
Disclaimer: Information supplied in this property information package (PIP) and all supplied
material is subject to the terms and conditions in this agreement. The property described in this
(PIP) is being offered to the highest bidder “AS IS”, “Where IS” and no warranty or guaranty is
expressed or implied, concerning the property made by the Seller, Auction Company or broker.
Each potential buyer is encouraged to perform his/her own independent inspections, inquiries and due
diligence concerning the described property (at buyer’s expense). The information is being furnished to
bidders for the bidder’s 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 recipient’s risk. Buyer agrees to accept property with its current zoning, easements, and any and all
right-of-ways that carry with it. All information is taken from sources deemed to be accurate and
reliable, all measurements are approximate and not to scale. The seller and the auctioneers, Buck Up
Enterprises, LLC. – dba Buck Up Auctions, My Real Estate Expert, LLC./Buck Up Realty, contractors,
employees, firm, brokers, affiliates or assigns assume no liability in this matter. Any and all
announcements made the day of auction take precedence over any and all previously written
advertisements or any prior written or verbal terms of sale but shall in no event form the basis of any
representation or warranty by seller or auctioneers. Auctioneer has a right to accept or reject all
bids. The Seller and Auction Company reserve the right to prohibit any person from bidding not
in good standing with Auction Company and or Broker. In case of a tie or disputed bid, the
Auctioneer reserves the right to re-open the bidding to determine the highest bid and settle the
disputed bid. This is at the sole discretion of the Auctioneer. All decisions made by Auctioneer
and or Broker are final.
Indemnification of Agent and Closer: Buyer jointly and agrees to indemnify and hold closer and agent
their agents, principals, associates, affiliates, assigns and employees harmless against any and all
losses, claims, damages or liabilities and expenses not resulting from agent or closer's bad faith or gross
negligence, including costs of investigation, attorney fees, and disbursements, which may be imposed
upon or incurred by agent or closer hereunder relative to the performance of their duties related to the
parties or the property, including without limitation any litigation arising from or in respect of this contract
or the transactions contemplated hereby. Closer and agent shall not be liable for any error of judgment or
for any act done or omitted by them in good faith. Closer and agent are authorized to act on any
document believed by them in good faith to be executed by the proper party or parties, and will incur no
liability in so acting. Closer and agent are in all respects and for all purposes third party beneficiaries of
this contract to the extent that this contract would entitle them to rights or benefits if they were signatory
parties hereto, and each of them is entitled to enforce such rights and benefits, as herein provided, to the
same extent they would be entitled if they were such signatory parties. ANY INDEMNIFICATION,
DEFENSE OR HOLD HARMLESS OBLIGATION OF BUYER FOR THE BENEFIT OF SELLER,
CLOSER, OR AGENT IN THIS CONTRACT SHALL SURVIVE THE CLOSING AND/OR TERMINATION
OF THIS CONTRACT. Corrections or Amendments: Any corrections and or amendments will be
posted to the Auctioneers Website at www.buckupauctions.com and www.myrealestateexpert.com.
prior to the live auction. Prospective buyer(s) will be solely responsible for reviewing any and all possible
Buck Up! Enterprises, LLC – dba Buck Up Auctions, at (979)421-0325.
BUYER REPRESENTATION FORM
I have read and agree to the Terms and Conditions of the auction sale as set forth herein.
I have read, understand and agree to all of the terms and conditions in the Real Estate Contract
of Purchase and will sign the Real Estate Contract of Purchase without making any changes to
the pre-printed text.
I understand that I do NOT have an agency relationship with Buck Up! Enterpises, LLC. – dba
Buck Up Auctions, My Real Estate Expert, LLC./Buck Up Realty, its auctioneers, contractors,
employees, brokers, affiliates, or assigns and all parties associated with.
I accept full responsibility for due diligence on the real estate on which I am bidding.
I understand that all real estate will be sold “AS IS, WHERE IS. WITH NO GUARANTEES OR
WARRANTIES EITHER EXPRESSED OR IMPLIED”.
I understand if I am the successful high bidder the sale of the property is not contingent upon
obtaining a certificate of occupancy.
I understand that, in the event I am the successful high bidder, and if I fail to close per the Real
Estate Contract of Purchase, my earnest money deposit will be forfeited.
I understand that, in the event I am the successful high bidder in a reserve auction, the seller has
two (2) business days to accept or reject the high bid and that my offer is irrevocable during that
I understand this agreement will become part of the Real Estate Contract of Purchase if I am the
successful high bidder.
In the case of conflict between the Real Estate Contract of Purchase and these Conditions of
Auction Sale for Real Estate, that the Real Estate Contract of Purchase shall take precedence.
BY SIGNING BELOW AND BIDDING, YOU HAVE ACCEPTED THESE TERMS AND CONDITIONS OF
Title (If Business)