ONLINE ONLY
March 23rd at 8am - March 30th at 2pm
INSPECTION
Vacant land can be inspected at buyers leisure and liability. All other properties will require an appointment.
PROPERTY DESCRIPTION
| Lot # | Title | Description | |
| 1 | Structure and Lot Located at 319 South Lawrence Street in Rockingham, NC | PIN 746320826348 Deed Bk 766, pg 8 .26+/- Acre | |
| 2 | Vacant Lot Located on Aslington Street in Rockingham, NC | PIN 746312871369 Pee Dee Mills Property, Lot 122 Plat Bk 5, Pg 539 0.63+/- Acres | |
| 3 | Vacant Lot Located on Aslington Street in Rockingham, NC | PIN 746312873411 Pee Dee Mills Property Lot 124 Plat Bk 5, Pg. 113/Plat Slide 62-A Deed Bk 1880, Pg 539 0.67+/- Acres | |
| 4 | Vacant Lot Located on Aslington Street in Rockingham, NC | PIN 746312874453 Pee Dee Mills Property Lot 130 Plat Bk 5, Pg 113/Plat Slide 62-A Deed Bk 1880, Pg 539 0.68+/- Acres | |
| 5 | Vacant Lot Located at 201 Long Drive in Rockingham, NC | PIN 747314440029 Long Park Development, Lot 1 Blk C Plat Bk 4, Pg 2/Plat Slide 1-B Deed 1914, Pg 209 0.16+/- Acre | |
| 6 | Vacant Lot Located at 200 Hamer Road in Rockingham, NC | PIN 746308890008 Pee Dee Mills Property, Lot 156 Plat Bk 5, Pg 113/ Plat Slide 62-A Deed Bk 1914, pg 211 0.72+/- Acre | |
| 7 | Vacant Lot Located on Leonard Street in Rockingham, NC | PIN 745302888564 Lincoln Heights, Lot 7 Blk B Map Book 5, pg 57 Deed Bk 1867, pg 510 0.26+/- Acres | |
| 8 | Structure and Lot Located at 72 Second Street Safie in Rockingham, NC | PIN 747209250199 East Rockingham Hills Home Map 4 Lot 11-Plat Bk 9, pg 68 Plat Slide 186-B Deed Bk 1892, pg 549 0.14+/- Acres | |
| 9 | Vacant Lot Located off Ratliff Road in Rockingham NC | PIN 746204601368 Ashley Heights, Lots 27 & 28 Plat Bk 7, pg 81 Deed Bk 1880, pg 537 0.17+/- Acre | |
| 10 | Structure and Lot Located at 333 Airport Road in Rockingham, NC | PIN 746212954017 Rohanen Heights Lots 2 & 3, Sec B, Plat 2 Plat Bk 4, pg 44 Deed Bk 1751, pg 573 0.38+/- Acres | |
| 11 | Vacant Lot Located at 152 Seaboard Street in Rockingham, NC | PIN 746208997164 Hannah Pickett Worsted Mills, Lot 118 Plat Bk 6, pg 78 Deed Bk 1903, pg 614 0.14+/- Acres | |
| 12 | Vacant Lot Located on Sandhill Road in Rockingham, NC | PIN 746204507330 Ashley Heights Lot 12, Blk A Plat Bk 7, pg 81 Deed Bk 1924, pg 569 0.11+/- Acres | |
| 13 | Vacant Lot Located at 130 South Street in Rockingham, NC | PIN 746208875583 HC Watson Lance, Lot 112 Plat Bk 53, pg 492 Deed Bk 1931, pg 566 0.18+/- Acres | |
| 14 | Vacant Lot Located at 135 South Street in Rockingham, NC | PIN 746208876750 HC Watson Property Lot 78 & 79 Plat Bk 53, Pg 492 Deed Bk 1924, pg 563 0.44+/- Acres | |
| 15 | Mobile Home and 2 Lots Located on Summit Avenue in Rockingham, NC Mobile Home does not convey. | PIN 746303341344 Crescent Heights Sub 9 & 10 Blk B Plat Bk 2, Pg 179 Deed Bk 1943, Pg 333 0.15+/- & 0.23+/- Acres | |
| 16 | Vacant Lot Located off Galestown Road in Rockingham, NC, No Deeded Access | PIN 745304738355 0.50+/- Acre | |
| 17 | Vacant Lot Located at 413 Bryan Street in Rockingham, NC | PIN 746319714830 Deed Bk 1924, pg 561 0.26+/- Acres | |
| 18 | Uninhabitable Structure and Lot Located at 104 Middle Street in Rockingham, NC | PIN 7472131301119 Deed Bk 1948, Pg 242 0.53+/- Acres | |
| 19 | Lot Located at 128 Watkins Loop Road in Rockingham, NC | PIN 749500588688 Deed Bk 1880, Pg 543 0.80+/- Acres | |
| 20 | Structure and Lot Located at 411 Raleigh Street in Hamlet, NC | PIN 749113242937 Deed Bk 1904, Pg 9 0.64+/- Acres | |
| 21 | Structure and Lot Located off Raleigh Street in Hamlet, NC, No Deeded Access | PIN 749109252202 Deed Bk 1924, pg 573 0.24+/- Acres | |
| 22 | Vacant Lot Located on Page Street in Hamlet, NC | PIN 749105183460 Page and Nash Add. Long Park Addition Lot 69 Plat Bk 1, Pg 74 Deed Bk 1949, pg 132 0.15+/- Acres | |
| 23 | Vacant Lot Located at 213 Rice Street in Hamlet, NC | PIN 748116940454 Deed Bk 1892, pg 557 0.11+/- Acres | |
| 24 | Vacant Lot Located at 109 Spring Street in Hamlet, NC | PIN 749113141687 Deed Bk 1867, pg 504 0.31+/- Acres | |
| 25 | Structure and Lot Located at 407 Daniels Street in Hamlet, NC | PIN 749217201858 Warren Heights Sub. Lot 14 Blk Q Plat Bk 2, pg 9 Deed Bk 1944, pg 244 0.17+/- Acres Uninhabitable | |
| 26 | Vacant Lot Located on Laurel Hill Road in Hamlet, NC | PIN 749118422053 DC Boyd Property Lot 1 & 2 Plat Book 4, pg 122 Deed Bk 1867, pg 502 0.14+/- Acres | |
| 27 | Vacant Lot Located at 128 Blue Roses Drive in Hamlet, NC | PIN 830900542743 Deed Bk 1867, pg 500 1.01+/- Acre | |
| 28 | Vacant Lot Located on Horseshoe Drive in Hamlet, NC | PIN 749203422841 Sunset Park Add. To N. Hamlet, NC Property if Liles and Snead Lot 8 Blk C Plat BK 4, pg 111 Deed Bk 1907, pg 280 0.2+/- Acres | |
| 29 | Structure and Lot Located at 214 Spring Street in Hamlet, NC | PIN 749109151271 Deed Bk 1924, pg 577 0.3+/- Acres
| |
| 30 | Structure and Lot Located at 9 McDonald Avenue in Hamlet, NC | PIN 748116939128 Deed Bk 1935, pg 517 0.59+/- Acres | |
| 31 | Vacant Lot Located off Lily Drive in Ellerbe, NC | PIN 75100771742 James Richard Hamilton & Assoc. Lot 2 Plat Slide 682-B Deed bk 1903, pg 616 0.62+/- Acres | |
| 32 | Uninhabitable Structure and Lot Located at 201 Capel Mill Road in Ellerbe, NC | PIN 758101065041 "Robert Decanter Tract" Lot 13 Plat Bk 8, pg 113 Deed Bk 1904, pg 7 Ag. Residential Zoning 0.54+/- Acres | |
| 33 | Vacant Lot Located on High Street in Ellerbe, NC | PIN 747701296597 Highline Sub. Lot 18, Blk Q Plat bk 12, pg 51 Deed Bk 1880, pg 535 0.23+/- Acre Mobile Home Does Not Convey | |
| 34 | Vacant Lot Located on Wall Street in Hoffman, NC | PIN 843602999800 WR Land Estate Lands Hoffman Lot 2 Bk of Plats 5, pg 28 Deed Book 1813, pg 215 0.32+/- Acres | |
| 35 | Vacant Lot off Wilson Ave in Rockingham, NC | PIN 747213048003 Deed Bk 1832, pg 485 0.11+/- Acres No Deeded Access | |
| 36 | Building is for sale the land is not for sale. Metal building to be disassembled & removed. Approx. 70’ L x 50’ W; 22’ 5” tall at peak, 13’ 7” tall in corners. Includes approx. 15’ x 8’ awning on front | This Auction Lot includes no Real Estate. The winning bidder will receive only the metal building as pictured and described. The high bidder will be given 90 days from bid acceptance to access the property for the purposes of removing the structure from the property. A roll off dumpster will be provided to the high bidder by the county to dispose of any waste from the removal project. The high bidder will be responsible for removing the structure at their own liability, Richmond County nor Iron Horse Auction Company, Inc. accept any responsibility for the buyer’s actions during the removal period |
CLICK HERE FOR PROPERTY INFORMATION AND PHOTOS
AUCTION MANAGER
Anthony Bristow
910.331.6765
All items in this auction are selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the items being sold. Descriptions of the items are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspections prior to the auction. All due diligence periods end the date the auction is scheduled to end and prior to the end of the auction. It is possible that the property being sold is subject to local, state and federal regulatory authorities and it is the Buyer’s responsibility to ascertain if they are subject to regulation and permitting. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the items before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property.
Online Only Real Estate Terms
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Iron Horse Auction Company, Inc. Online Auctions are timed events and all bidding will begin to close at a specified time. Iron Horse Auction Company, Inc. online auctions also have an auto-extend feature. Any bid placed in the final five minutes for an auction item will automatically add 5 minutes to the time the bid was placed. Example: If an auction item is scheduled to close at 3:00 and receives a bid at 2:56, the close time will automatically extend to 3:05. The auto-extend feature will continue until there is a five-minute period without a bid being placed on each item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of Iron Horse Auction Company, Inc. or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the Buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, 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 Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username 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 privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.
Importance of Terms:
Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer. The Auctioneer reserves the right to bid on items on behalf of the Seller as permissible by the Uniform Commercial Code.
Buyer's Premium:
There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.
Auction Ending:
Iron Horse Auction Company, Inc. Online Auctions are timed events and all bidding will begin to close at a specified time. Iron Horse Auction Company, Inc. online auctions also have an auto-extend feature. Any bid placed in the final five minutes for an auction item will automatically add 5 minutes to the time the bid was placed. Example: If an auction item is scheduled to close at 3:00 and receives a bid at 2:56, the close time will automatically extend to 3:05. The auto-extend feature will continue until there is a five-minute period without a bid being placed on each item in the auction.
Time Reduction:
In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction.
Outbid / Back-In Notification:
During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.
Property Information & Inspection:
Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.
Auctioneer's Discretion:
Iron Horse Auction Company, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of Iron Horse Auction Company, Inc. or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software (MarkNet) nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.
Payment Terms:
Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation. It is understood that the purchaser must hire an attorney to act as a settlement agent, which includes but is not limited to the preparation of settlement statement, distribution of funds and recording of all required documents. The Purchaser shall have the right to have a title examination made at the expense of the Purchaser. Additionally, it is understood that the transaction is to be closed on or before 30 days of the date of this contract at the office of the Purchaser’s attorney.
Property Condition:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the Buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.
Auction Administrative Fee
In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, 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 Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.
Auction Cancellation – Bid Rejection:
Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed, unless the auction is advertised Without Reserve.
Acceptance of Bid Prices:
All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username 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 privileges. Iron Horse Auction Company, Inc. and its employees may bid on auctions. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Iron Horse Auction Company, Inc and the subsequent closing and payment in full at that time .
Age Requirement:
All Bidders must be eighteen (18) years of age or older.