NOTICE: All bidders and other persons attending this sale agree that they have read and have full knowledge of these terms and agree to be bound thereby.
Permission to Use Bidding Software and Website:
SJ Corio Company, authorizes you, as a registered bidder, to use this software for bidding purposes. By using this software to place a bid: (i) you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers set forth herein; (ii) you agree to all such terms, conditions, and disclaimers; (iii) you agree to all of the terms, conditions, and disclaimers of the SJ Corio Company for the specific auction in which you are placing a bid. You further agree not to copy, reproduce, or publicly display any content from the website or software outside the functions of the website without first obtaining written permission from the SJ Corio Company.
Bidding Process:
It is your responsibility to read and understand the online auction terms, including these Terms and Conditions and any auction-specific terms in the listing. You are required to select a checkbox to accept such terms upon registering for online auctions and before placing a bid for each auction. These Terms and Conditions are subject to change from time to time.
Remember, once the “BID” button is clicked that bid is final and is a legally binding offer to purchase the item(s) being offered.
1. All right, title and interest conveyed by the Commissioner will be sold subject to the terms and conditions in the published notice of sale and those hereinafter set.
2. A deposit of $10,000.00 (bank or certified check) is required in order to bid on this property. An additional deposit to total 5% (by bank or certified check) of sale price required by the highest bidder is required within 48 hours of the conclusion of the bidding. If the required deposit is not so made, the property may, at the discretion of the auctioneer, be immediately resold, upon the same terms and conditions, without further notice, but such resale shall not release the defaulting purchaser from liability for breach of contract.
3. The balance of the purchase price shall be paid by bank or certified check or wire transfer payable to the Commissioner within thirty (30) days from the “Effective Date” of the Purchase and Sale Contract or on a date that is mutually agreed upon by the successful bidder and the Commissioner.
4. At the time of closing, a Quit Claim deed, in usual form, without covenants of warranty, will be delivered to the successful bidder on receipt of the full balance of the purchase price. If the purchaser shall fail to tender the balance of said purchase price on the closing date, the Commissioner, at its option, may resell the property to the next highest bidder at the original sale who shall be able to comply with the terms of the sale without notice to the purchaser and without previously tendering a deed to the purchaser. Such resale shall not, however, release the defaulting purchaser from liability for breach of contract, and in case of such default the Commissioner shall retain said deposit, whether or not the property is resold, without prejudice to any right to recover further damages or to pursue any legal or equitable remedy accruing by reason of such default.
5. The subject property will be sold “as is” by quit claim deed in accordance with statutory requirements. No warranty deed will be offered by the Commissioner.
6. The successful bidder shall be responsible for all costs associated with the documentary deed stamps and recording of the deed.
7. In addition to the Purchase Price, the Buyer shall pay a 5% buyer’s premium which sum shall be disbursed to “SJ Corio Company” at the time of closing.
8. The Commissioner will pay no broker’s fee, finder’s fee, commission, or other compensation to any party claiming to counsel or represent any proposer regarding the sale of the subject property or consummation of the lease hereinafter described.
9. Interested parties may conduct a non-invasive inspection of the subject property prior to the auction date. Inspections are by appointment only and can be arranged by contacting SJ Corio Company at 401-738-0400 or Eric Schultheis at 401-331-9300.
10. No representations will or have been made by the Commissioner that the subject property meets local, State or Federal ordinances, regulations or laws governing development of property commercially, industrially, or otherwise. All permits, empowerments, permissions and grants necessary for the Property’s sale and development are at the selected proposer’s cost and responsibility. Any variances, permission or grants necessary to meet these requirements are likewise at the selected proposer’s risk, cost and expense.
11. The sale is made without representations, warranties, or guaranties in regard to the title or any liens, encumbrances, attachments, levies, mortgages, easements, rights of way, occupancies, lease or other defects concerning said title.
12. Any public utilities or municipalities having facilities under, over, or through the subject property as of the date of its conveyance to the selected bidder shall have the right and easement to continue to maintain, operate, and renew their facilities within the subject property.
13. No environmental analyses of the property have been conducted. The Commissioner makes no assertions or warranties regarding the presence, if any, or absence of asbestos, chemicals, hydrocarbons or other hazardous materials on the Property.
14. This sale shall be subject to final approval by the Washington County Superior Court.
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