AUCTION FORMAT:
All bidding is open and public. To bid during the auction, you need only raise your hand, shout out your bid or instruct an Auctioneer's bidder's assistant to call out your bid for you.
DOCUMENTS AVAILABLE:
A Bidder's Information Packet has been assembled for each property and includes the legal description, Purchase and Sale Contract, Terms of Sale, financing information, title reports, rent rolls, leases, zoning information, environmental information, bidding procedures and other information which is applicable to a particular property. This packet is available for purchase via facsimile, mail or telephone order directly from our Auction Information Center or at the On Site Inspections (see individual property descriptions). The Bidder's Information Packets may also be reviewed during the On Site Inspections, by appointment and at the auction. Seller and Auctioneer shall not be liable for any inaccuracy contained in any reports furnished to buyers originating from third party experts.
ATTORNEY REVIEW RECOMMENDED:
All information contained in this brochure and all other auction-related material, such as the Bidder's Information Packet, should be carefully reviewed by an attorney prior to the auction and is subject to and may be superseded by (a) the Purchase and Sale Contract for signature at the auction, as well as by (b) announcements made from the podium prior to the commencement of bidding.
REQUIREMENTS OF THE SUCCESSFUL HIGH BIDDER:
The successful high bidder on each property will be required to sign the bidder's card upon the conclusion of the bidding acknowledging the purchase and present the required cashier's check made payable to WATSON TITLE INSURANCE, INC., ESCROW AGENT, in the amount specified in the brochure as initial downpayment immediately to the Auctioneer's assistant. The high bidder shall then immediately sign the Purchase and Sale Contract. The initial down payment MUST be increased to 5% of the purchase price by cashier's check, if applicable, either at the auction or by 5:00 p.m. on January 31, 1996 made payable to WATSON TITLE INSURANCE, INC., ESCROW AGENT, and be delivered to the Offices of Watson Title Insurance, Inc., 2400 E. Commercial Blvd., #211, Ft. Lauderdale, FL 33308, Attn.: Marshall Watson, Esq., (305) 771-5522. No third party checks will be accepted. The additional downpayment due under the terms of the Purchase and Sale Contract may be paid by personal check ONLY at the auction. The successful high bidder may also be asked to sign a statement that the bidder has inspected the property and other documents. If the successful high bidder will be a corporation, partnership or trust, please contact the Auction Project Manager for other bidding requirements.
AUCTION PROCEDURE:
Minimum Bid Offerings: The final high bids on all properties which are listed in the brochure as offered without reserve, subject to a stated minimum bid, will be accepted at the time and place of the auction, in the event the highest bid is equal to or greater than the stated minimum bid. The Auctioneer reserves the right to ask for an opening bid below the published minimum bid. In the event the bidding level does not reach the published minimum bid, the offer will be considered with reserve, which means that the high bid is irrevocable and subject to Seller's acceptance within (3) business days of the auction.
CLOSING DATES:
Closing dates will be as stipulated in the individual purchase and sale contracts, at which time the purchaser will pay the balance of the purchase price.
TITLE:
The purchaser shall receive insurable title, free from all encumbrances except the permitted encumbrances or title exceptions specified in the Purchase and Sale Contract. Title insurance shall be provided by the Seller through Watson Title Insurance, Inc. Please review the preliminary title commitment included in the Bidder's Information Packet.
BUYER'S PREMIUM:
All sales at auction shall provide that each purchaser pay a premium equal to 2% of the high bid price. This amount shall be added to the final bid and inserted in the purchase agreement to determine the total purchase price. Financing is based on the total purchase price.
FINANCING:
Excellent financing is available to qualified purchasers. Please call the Auction Information Center for additional information.
INSPECTION OF THE PROPERTY:
Each property is being sold on an AS-IS, WHERE-IS basis with all faults and Seller makes no representations or warranties except as described in the Purchase and Sale Contract. Your complete inspection and the inspection of the property by your experts prior to the auction is encouraged. Those inspecting the property assume all risk associated with any inspection of the property.
CONDUCT OF THE AUCTION:
Neither Seller, Seller's agents or Auctioneer is permitted to bid at the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction premises for interference with auction activities, nuisance, canvassing, soliciting, or other reasons deemed necessary by the Auctioneer. In the event of a dispute between bidders, the Auctioneer shall make the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the property from the auction. If any disputes should arise following the auction, the auctioneer's records shall be conclusive in all respects.
AGENCY DISCLOSURE:
Sheldon Good & Company, "Auctioneer" and all licensees employed by or associated with Sheldon Good & Company, represent the Seller in the sale of these properties. Any cooperating broker will be recognized as a Buyer's Agent.
FOR ADDITIONAL TERMS OF SALE, SEE THE PURCHASE AND SALE CONTRACT.
ATTENTION AUCTION BUYERS:
WE RECOMMEND THAT YOU ARRIVE AT THE FORT LAUDERDALE AIRPORT HILTON, 1870 GRIFFIN ROAD, DANIA, FLORIDA 33004, 12:00 NOON THE DAY OF THE AUCTION, IN ORDER TO REGISTER, PRESENT YOUR DESIGNATED CASHIER'S OR CERTIFIED CHECK, HAVE ANY LAST MINUTE QUESTIONS ANSWERED AND OBTAIN PREFERRED SEATING. REGISTRATION WILL GO ON CONTINUOUSLY FOR THE HOUR PRECEDING THE AUCTION.
REALTOR®/BROKER PARTICIPATION INVITED:
A one-half percent (1/2%) referral fee of the high bid price will be paid by the ownership to the licensed real estate broker, whose prospect pays and closes on the property. To qualify for the referral fee, the real estate agent must:
a) be a licensed real estate broker who will abide by the National Association of Realtors® Code of Ethics;
b) register the prospect by certified mail return receipt requested, on company stationery, which must be signed by both broker and prospect, with Sheldon Good & Company, Auction Information Center, 8800 NW 78th Court, Tamarac, Florida 33321 Attention: Broker Registration, postmarked prior to January 18, 1996,
c) sign and return the referral fee letter you will receive after registration of your client;
d) ensure that the registration letter is received before any inspection of the property by the prospect;
e) sign in and inspect the property with the prospect during a scheduled inspection and,
f) attend the auction with the prospect and bid with or for the prospect.
All registrations accepted will be acknowledged; each acknowledged broker must bring his registration acknowledgment to an inspection and to the auction for registration verification purposes. A complete registration file on all prospects will be maintained. No REALTOR®/Broker will be recognized on a prospect who has previously contacted or been contacted by the Seller or their representatives. Referral fees will be paid upon closing by Seller and receipt of commissions by Auctioneer. Referral fees are based on the high bid amount.
No referral fees will be paid by the owner if the broker, the broker's agents or a member of the broker's immediate family is participating in the purchase of a property. An affidavit will be required certifying that the agent is serving only as a broker and not as a principal. There can be NO EXCEPTIONS to this procedure and no oral registrations will be accepted. REALTOR®/Brokers are hereby notified that the Seller has provided a dual commission arrangement for the sale of the properties in this offering. If a cooperating broker has not met all of these requirements, no referral fee will be paid to the cooperating broker, even if the cooperating broker's prospect purchases a property.
The information contained in this brochure is subject to inspection and verification by all parties relying on it. No liability for its inaccuracy, errors or omissions is assumed by the Sellers, their agents or Auctioneer. ALL ACREAGE, SQUARE FOOTAGE, INCOME, EXPENSES, DIMENSIONS, AND TAXES IN THIS BROCHURE ARE APPROXIMATE. This offering may be withdrawn, modified or canceled without notice at any time.
This is not a solicitation or offering to residents of any state where this offering is prohibited by law.
©Sheldon Good & Company, Inc. 1995 All Rights Reserved.
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All contents Copyright©1995, Advanced Marketing Consultants, Inc. All rights reserved. All real estate advertising is subject to the Federal Fair Housing Act. You may contact us at auction@shadow.net or 954-938-5100