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Terms

1. All Bidders must be 18 years of age or older and provide identification as verification upon request. All Bidders and others participating in this auction agree that they have read these terms and agree to be bound by and abide by these terms thereby. Bidder and his or her agents and employees agree to assume all risks of damage to person or property. Bidder and his or her agents and employees specifically release and forever indemnify Auctioneer, its employees, agents, and assigns, from any liability and causes of action.
2. Schur Success Realty & Auction, LLC, shall be known as the “Auctioneer”.
3. The property will be sold via “Online Only - Internet Auction” ending August 9, 2019, at or about 2:01 PM, Mountain Time.
4. Only current homeowners and members of the University Park Tower Homeowners Association (HOA) shall be eligible to bid.
5. To be approved as an online Bidder, a signed copy of these “terms and conditions” along with a signed Bidder’s certification must be received and approved by the auction office.
6. This auction employs a “soft close”, meaning that any bids received in the last five minutes of the auction will extend the auction another five minutes. This process will continue each time a new bid is received within the last five minutes of the auction and will not close until no new bids have been received for more than five minutes. The Auctioneer reserves the right to extend or end bidding as is in the best interest of the Seller.
7. The Bidder is exclusively and solely responsible for any and all bids placed through their registered Bidder ID. Bidders may not share or disclose their passwords to anyone.
8. The property will be Sold Subject to Seller’s Confirmation. The Seller reserves the right to reject any and all bids at any time.
9. Bidding increments shall be determined at the sole discretion of the Auctioneer and will be posted on the bidding website.
10. This property sells with no contingencies. The Bidder expressly agrees that the Bidder has inspected the property or has waived the opportunity to inspect; is aware of the flaws if any and is fully prepared to pay for this purchase in full at time of closing.
11. The sale shall not be contingent upon the sale of any other property, nor shall it be contingent upon financing in any manner.
12. Bidder assumes all liability for the inspection process, including releasing the Seller and the Auctioneer from any claim of injury or harm during the inspection.
13. A failure by the Bidder to inspect the property shall not be grounds to terminate or void any contracts.
14. This property sells “As-Is” with no warranties expressed or implied, unless specifically stated.
15. Property included in the sale is the real estate only, or as listed in the property description. Unless specifically listed, no personal property will transfer with the sale of the real property.
16. The auction is subject to prior sale (the property can be sold prior to the end of the auction), without recourse to the Bidder.
17. The Seller reserves the right to cancel the auction at any time prior to the final bid closing.
18. Down payment
    1. A down payment must be paid by the successful Bidder by direct wire transfer within 24 hours of acceptance of the auction contract by the Seller. The amount of this down payment (earnest money) shall be ten percent (10%) of the final sale price. The down payment will be payable to the title company.
    2. The down payment deposit will be non-refundable; your bidding is not conditional upon financing, so be sure you are prepared to pay cash at closing or have arranged your financing prior to bidding. The balance of the purchase price will be due via a wire transfer or cashier’s check, made payable to the title company, on delivery of deed on or before closing.
19. A promissory note will be signed along with the down payment.
20. The property will be conveyed by a Quit-Claim Deed.
21. Real Estate Taxes: the taxes will be prorated to the day of closing.
22. Closing
    1. Closing shall take place at the office of: Homestead Title & Escrow, 8480 E. Orchard # 5600, Greenwood Village, Colorado 80111. Remote, or closing by mail, may be available.
    2. Closing fees will be paid by the Buyer.
    3. Closing will be held before September 9, 2019, 5:00 PM mountain.
    4. Possession will be granted upon closing.
23. The successful Bidder shall execute a “Real Estate Auction Sales Contract” for the property immediately after being declared the Successful Bidder by the Auctioneer. Bidder acknowledges that he has read the Buyer’s Real Estate Auction Sales Contract and agrees to abide by the terms of the contract.
24. Each potential Bidder is responsible for conducting at their own risk, their own independent inspections, investigations, and due diligence concerning the property. Persons attending the auction during preview or inspection period, the auction, or during the removal period assume all risks of damage, injury, or loss to their person and or property, and release the Auctioneer and the Auction Firm from liability thereof. Neither the Auction Firm nor its principals shall be liable for any defect in or condition of premises on which the auction is held. The Auction Firm is acting solely as the agent for the Seller and is not responsible for any acts or omissions of its principals.
25. Bidders are encouraged to obtain their own property inspection at their own cost.
26. Schur Success Realty & Auction, LLC, dba/ Schur Success Group, and their representatives are exclusive agents of the Seller. There is no Buyer’s agency. There is no duty from the Auctioneer to the Buyer.
27. All announcements made up to the final close of the Auction bidding take precedence over all advertising, oral and/or printed material.
28. All marketing information and materials were gathered from reliable sources and are believed to be correct as of the date they were published; however the Seller or Auctioneers have not independently verified this information. Auction plats and drawings are not to be relied on and are for representation purposes only. Their accuracy is not warranted in any way. There is no obligation on the part of the Seller or Auctioneer to update this information.
29. The Bidder waives any claims against the Auctioneer for a failure of the electronic bidding technology in any manner, including the failure of the system to accept or register a bid.
30. By registering for any auction, the Bidder agrees to be added to the Auctioneer’s email list. If you choose to unsubscribe, please follow the link at the bottom of each email to update your notifications.
31. The Auctioneer may record all auctions via video, audio, still photography, or a combination of all three. The Bidder grants the Auctioneer permission to use these recordings and or images for any purpose.
32. Online Auctions
    1. Neither the Auctioneer nor the Seller shall be responsible for any failure of any electronic or internet systems to accept or register a bid. Registered Bidders must create a password that prevents others from using their account. Bidders are responsible for ALL bids placed under their name and password.
    2. Online auctions use a “Dynamic” ending process. If a bid is received in the last few minutes before the scheduled closing of an item, the timer on that item will extend, and will continue to extend each time a bid is received. Once the bidding stops, and the timer runs out, that item will be eligible to close. In some cases, items are “linked”, keeping one item open for bidding when a different item in the auction has been extended due to active bidding.
    3. It is the Bidder's responsibility to determine condition, age, genuineness, value or any other determinative factor of all items. Auctioneer may attempt to describe the property in advertising, on the internet and at the auction but makes no representations. In no event shall Auctioneer be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Auctioneer does not guarantee any appraisals, gradings or certifications. If you have any questions about the merchandise, ASK THEM BEFORE BIDDING. Bidders shall be the sole judges of value.
    4. By placing a bid, Bidder acknowledges that he or she has inspected the items to his or her satisfaction or chooses to not examine them at his or her sole risk. Even though an item may display as "sold" on the internet, no sales are final until they are certified by the Auctioneer and the Bidder receives an invoice. Auctioneer reserves the right to cancel any or all sales and resell the items in whatever manner he or she chooses. Bidding increments are automatically adjusted based on the chart provided for each auction and are subject to change at the sole discretion of Schur Success. Bids cannot and will not be removed or altered, unless in the opinion of the Auctioneer, the Bidder can establish that the bid was an obvious typographical error .