Auction Terms & Conditions General Terms
This auction is to be conducted by Epic Auctions and Estate Sale, Inc. hereinafter referred to as Auctioneer or Auction Company, on behalf of the owners of the property, hereinafter referred to as Seller.
The terms Bidder and Buyer shall be defined as the individual or any company representing or represented by that individual, including any and all of its agents, employees, representatives, officers, owners, members, or directors.
Auctioneer is not responsible for acts or representations of Seller.
This auction is subject to Seller confirmation.
This is a cash only sale with no contingencies for financing, appraisal, repairs, or inspections
Bidder is expected to have any needed pre-approvals in place for mortgage, if necessary, prior to bidding.
All properties are sold as-is with no expressed or implied warranty provided by either Auctioneer or Seller.
Auctioneer reserves the right to update the Terms and Conditions and any property information at any time. Those will be effective upon posting.
It is the Bidder’s responsibility to read and fully understand all Terms and Conditions and property information prior to bidding.
The act of bidding shall constitute Bidder’s acceptance of these Terms and Conditions in whole and individually. In the event that any individual Term or Condition is later found to be unenforceable, Bidder agrees that all remaining Terms and Conditions remain valid and in full effect.
Auctioneer reserves the right to cancel bids, remove bids, and revoke the bidding privilege of any party at any time for any reason.
Seller is to provide at their expense an Owner’s Policy of Title Insurance and will execute a warranty deed conveying the property to Buyer.
Taxes will be prorated to the date of closing.
Epic Auctions and Estate Sale, Inc., Auctioneer Robert Howe, Jr., and Auctioneer Bradley A. Stoecker are acting solely in the role of Transaction Coordinators. They are not Agents of either the Buyer or the Seller and owe no fiduciary responsibility to either Party.
In the event of an auction with a Seller reserve, Auction Company reserves the right to bid on behalf of Seller up to, but not beyond, the Seller’s reserve amount.
Auction Company reserves the right to end this auction and cancel all existing bids at any time prior to the conclusion of the auction for any reason.
All bidders are encouraged to attend the Open House listed on Auctioneer’s website to inspect the property to their full satisfaction. If the Bidder isn’t satisfied with the condition of the property or they have any reservations about the bidding process, they are encouraged to discuss this with the auctioneer until they are satisfied, or refrain from the process of bidding.
All properties are sold subject to any and all existing matters of record, all easements, and local zoning regulations.
Specific property information is available either at the Epic Auctions and Estate Sales website or via email by request. Please read the property information on the listing and request a Bidder Information Packet from the Auction Company.
Auction Company assumes no liability or responsibility for any defects or deficiencies of the property, either known or not known by Seller.
Bidder is expected to read and understand all available information regarding the property and to perform their own due diligence to be fully informed about the property prior to bidding.
The information provided in auction advertisements and bidder information packets was obtained from sources believed by Auction Company and Seller to be accurate, but is subject to verification by any and all parties relying on such information. No liability for its accuracy, errors, or omissions is assumed by Auction Company or Seller.
All bidders must provide full legal name, mailing address, phone number, email address, and valid credit card information to register.
All bidder identities will be verified to the satisfaction of the auction company. Any party that cannot be fully identified will have their bidder registration rejected and any and all bidding activity will be deleted.
All bidders must be 18 years of age as of the day of the auction.
Online bidder registration requires the submission of valid credit card information in order to be registered for a unique username and password.
Online bidder identities will be kept confidential except to Auction Company staff and Seller.
All bids are final and are a binding contract
Neither Auctioneer nor Seller are responsible for failure of Auction Company computer systems, bidder’s computer system malfunctions, failure of bidder to receive email notifications, vendor platform failures, internet connections, or any other event that prevents bidder from bidding or Epic from receiving said bids.
There will be a Five Percent (5%) Buyers Premium charged for this auction. This amount will be added to Bidder’s final bid to determine the final sales price to be offered to Seller for their consideration.
As an example only: If the Bidder’s final bid is $100,000, the 5% buyer’s premium will be added to this amount to arrive at the final offer price of $105,000. This final offer price, if agreed to by Seller, will be the final price on which all transfer taxes and title insurance policies will be based.
The high bidder, at the conclusion of the auction event, will receive an email confirming their final bid. The high bidder will be given instructions on how to sign and return the sales agreement and wire transfer information for the earnest money deposit.
Signed sales agreement will be presented to Seller for their review to accept, counter, or reject.
If Seller counter offers, Buyer will have 24 hours to respond with a signed amended sales agreement.
Earnest Money/Down Payment/Deposit
$10,000 deposit in the form of a certified bank check or wire transfer will be deposited with Auction Company within 48 hours of the completion of the auction. Winning bidders that fail to submit the fully executed Contract and earnest money deposit will be considered to be in default.
Earnest money is 100% non-refundable
Remaining balance to be paid in full on or before 45 days after the auction at closing
A two percent (2%) commission on the final bid price is available to licensed Brokers who have successfully registered themselves and their bidder with Auction Company at least forty eight (48) hours prior to the start of the live auction for simulcast auctions, or forty eight (48) hours prior to the end of online only auctions. Please contact Epic Auctions and Estate Sale, Inc. for registration forms and complete eligibility requirements.
Title Company will be selected by Seller.
Closing will be on or within 45 days from the Seller’s acceptance of the Offer.
Any closing that is delayed beyond 45 days without the written authorization of Seller and Auction Company due to any actions or inactions of Buyer or anyone working on behalf of Buyer, including lenders, inspectors, appraisers, etc., will cause Buyer to be considered to be in breach of contract. Buyer will forfeit all earnest money deposits and will be held responsible for any costs incurred by either Auction Company or Seller from the resale of the property.
In the event of any dispute regarding the auction and subsequent transfer of this property, all legal claims will be properly filed in Ingham County, in the State of Michigan.
Seller User Terms
Bidder User Terms