AUCTION TERMS AND CONDITIONS

PROPERTIES TO BE AUCTIONED: Single Family Home
100 Seasons Lane, Huntsville, AL 35811

SELLER (S) Estate of Justin Reed, Geni Thompson, personal representative

REAL ESTATE AUCTION LIVE on Friday, April 29, 2016 at 5:00 PM; Pre-bid until 4:00 PM on day of Live Auction.

REAL ESTATE: A 10% BuyerÂ’s Premium will be added to the highest bid to arrive at the total purchase price. A non-refundable deposit of 10% (escrow money) is required auction day with the balance due on or before 45 days at closing. The closing fees are the buyerÂ’s responsibility.

The property will be sold Â‘AS IS, WHERE ISÂ’ with no guarantees, expressed or implied, by Horton Auction & Real Estate, Inc.

THIS AUCTION FEATURES AN AUTO BID EXTEND

AUCTION END TIMES: Horton AuctionÂ’s Online Auctions are times events and all bidding will close at a specified time. HortonÂ’s Online Auctions also have an auto extend feature. When a bid is placed in the final 5 minutes of bidding, the auction bidding will be automatically extended 5 minutes from the time the bid was placed (i.e., if an auction is scheduled to close at 6:00 and receives a bid at 5:59, the close time will automatically extend to 6:04. The auto extend feature remains active until no further bids are received within a 5 minute time frame.

SERVER, SOFTWARE, TECHNICAL OR INTERNET ISSUES: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR HORTON AUCTION & REAL ESTATE, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Horton Auction & Real Estate, Inc., will send email notifications to registered bidders with updated information as deemed necessary.

Although a credit card is required to register to participate in this auction, certified funds are required for the escrow deposit. However, if certified funds are not provided to Horton Auction & Real Estate Service, Inc. within 48 hours of auction end time, the credit card used to register for this auction will be charged for the required 10% of escrow deposit.

Disclaimers & Absence of Warranties:
Â• Information contained herein believed to be accurate but not guaranteed by Horton Auction & Real Estate, Inc.
Â• In all transactions, the Auctioneers are acting as agents for the Seller only.
Â• Property will be sold Â‘As Is, Where IsÂ’ with no guarantees, expressed or implied by Horton Auction & Real Estate, Inc.
Â• All decisions of the Auctioneers are final.

Horton Auction & Real Estate, Inc. reserves the right to reject any and all bids for any reason prior to the close of bidding.

Horton Auction & Real Estate, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Horton Auction & Real Estate, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Horton Auction & Real Estate, Inc. reserve the right to preclude any person from bidding if there is any question as to the personÂ’s credentials, mental fitness, etc.

Bidder responsibilities include, but are not limited to: Bidders agree to keep his/her username and password confidential, as each individual is responsible for ANY and ALL activity involving his/her account. If your USER NAME is offensive to Horton Auction & Real Estate, Inc., then we reserve the right to terminate your bidding.

When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges. We gather aggregate information from this web site, which may include but is not limited to: number of page visitors, most visited pages, any and all correspondence.

Any dispute between Horton Auction & Real Estate, Inc., its Agents or Representatives, and the Buyer(s) will be tried in a court of jurisdiction in Madison County, Alabama (or county designated by Horton Auction & Real Estate). By bidding on the property, buyer agrees to all terms and conditions set forth.

Buyer and or Bidder agrees to hold harmless and indemnify Horton Auction & Real Estate, Inc. and its Agents and its Representatives from any judgments, costs, fees, etc.

All announcements made from the auction block will take precedence over any previous written or oral statements. Horton Auction & Real Estate reserve the right to announce additional Terms and Conditions of the auction and sale prior to or during the course of the auction. All bidders will be bound by announcements made at the auction, even though a bidder may not have actually heard the announcements. The Real Estate Sales Contract for the purchase and sale of the property shall represent the final terms of sale.

In the event of a dispute over any matter at the Auction, Horton Auction & Real Estate shall have the absolute and sole right to make the final decision to resolve the dispute and will also have the right to either accept or reject the final bids or re-open the bidding. Increments of bidding are at the direction of Horton Auction & Real Estate, and the Auctioneer conducting the auction. Horton Auction & Real Estate reserve the right to accept absentee bids in advance and place those bids during the course of bidding. Horton Auction & Real Estate reserves the right to accept phone bids and/or absentee bids (arrangements must be made prior to auction date).
Horton Auction & Real Estate reserve the right to deny any person admittance to the auction or remove any person or party from the auction site including, but not limited to, a registered bidder or broker/agent.

BACK-UP BIDS: An unsuccessful bidder may make a back-up bid to purchase the property in the event of default by the high bidder. Please see a Horton Auction & Real Estate representative if you would like to submit a back-up offer.

CLOSING: The sale of the property shall be closed and the deed delivered on or before June 24, 2016. The closing will be held at the law office of TBA.

PROPERTY INSPECTION: It is the BuyerÂ’s responsibility to inspect the property prior to the auction. Buyers must rely on their own information, judgment, inspections and any public records concerning the property. The failure of the Buyer to be fully and adequately informed as to the condition of the property will not constitute grounds for adjustment of the price or withdrawal of the buyerÂ’s bid for the property, or return of any earnest money paid in connection with the sale of the property.

TITLE INSURANCE: Title Insurance will be at the BuyerÂ’s expense and is optional.

BROKER PARTICIPATION: Broker participation will be offered on this auction.

Reed Estate: 100 Seasons Lane, Huntsville, AL