Jennison Real Estate Auction Terms - A 10% Buyers Premium is added to the winning bid to form the contract price.

1.    There are three properties included as separate and individual items in the online auction.  Each property is sold individually as listed in the online auction catalog.  If you want to purchase more than one property, you must bid on each property individually and be the winning bidder for that particular property.  Bidding will be extended three minutes each time a bid is placed on any property.

2.    This is an Online Auction.  A signed copy of this agreement is required to bid.  In consideration of being allowed to participate in this auction, Purchaser agrees that all bids he or she submits are irrevocable and binding.

3.    Purchaser hereby represents and warrants that he or she has the financial resources to make an immediate non-refundable deposit payment of $10,000.00 per property and to completely fund the purchase of each property purchased by the closing date of Wednesday, April 12, 2023.  (This closing date may be extended up to 15 days by Purchaser paying to Seller an extension fee of $100 per property purchased for each day Purchaser desires to extend the closing date.)  Seller and Broker may, at their sole discretion, ask any Potential Purchaser, at any time, to provide proof of these funds or financing and decline their bids if they do not provide acceptable documentation.  Time is of the essence.  Well qualified Purchasers should be able to obtain financing for any of these properties but, the sale of these properties is not contingent on Purchaser obtaining financing or anything else.

4.    Bidding shall be based on a single total price for each property.  The auction will be conducted using a 10% Buyers Premium.  Ten Percent (10%) will be added to the winning bid price for each property to form the contract price for each individual property.  By way of example, and not as an indication of the purchase price or value, a bid price of $100,000.00 will equal a contract price of $110,000.00.

5.    This is a non-contingent sale for each property.  The only way Purchaser will receive a refund of his or her deposit(s) is if Seller does not provide marketable title at closing as stated in the title insurance commitment.  Purchaser relies entirely on his or her own judgment and inspection.  Purchaser has, or willfully chooses not to, investigated all issues surrounding the properties to Purchaser’s satisfaction prior to bidding and agrees to purchase it AS-IS WHERE-IS.  Purchaser has investigated or waives the right to determine the availability, terms, conditions, and premium for property insurance.  Purchaser has completed, or willfully chooses not to complete, all inspections and surveys he or she desires prior to bidding including but not limited to: soils, septic, utility availability, groundwater, flood designation, environmental, buried fuel tanks, presence of asbestos, presence of lead-based paint and/or lead-based paint hazards, presence of mold or radon gas, property boundaries, property size, access, easements, Home Owners Association (HOA) fees or regulations, right of ways and any other desired tests, surveys or inspections.  Seller has attempted to provide to Purchaser, on the auction web site, all current HOA documents for 4113 15th Street Lane.  Purchaser is encouraged to contact the HOA for 4113 15th Street Lane to verify these documents and to fully understand the rules of the HOA.  Purchaser acknowledges that he or she has performed all due diligence required to form his or her opinion of value and made all decisions necessary for him or her to make a final decision to purchase any or all of these properties prior to placing a bid.  Purchaser and his or her heirs and assigns forever waive any right to initiate legal action, object, seek reimbursement or damages or contest in any manner the condition of the subject property.

6.    Seller and Broker may have provided maps, documents, or reports to potential Purchasers but do not warrant these maps, documents or reports in anyway.  Purchaser has had the opportunity to conduct inspections, surveys or to take any measurements at his or her expense prior to the auction and hereby waives any right to object to the property condition, boundaries, survey issues, easements, or square footage measurements.

7.    Colorado Premier Realty & Auction Services, Inc., Edith Parrish-Kohler Broker is acting as a Seller’s Agent.  Purchaser acknowledges that he or she is a “customer” of Broker in these transactions.  A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party’s agent or as the party’s transaction-broker.  Purchaser represents and warrants to Seller and Broker that, other than as registered with Broker prior to online auction registration, Purchaser has not been represented by any real estate agent or finder in connection with this transaction.  No Broker registrations will be accepted to represent a buyer who has previously contacted Broker or Rocky Mountain Estate Brokers Inc. (RMEB).

8.    Purchaser hereby acknowledges receipt of all required documents and required disclosures including source of water addendum, square footage disclosure and lead based paint disclosure for each property she or he intends to bid on.  Purchaser waives his or her right to conduct any lead-based paint tests and to object to the sale based on source of water, square footage, or anything else.

9.    A contract to buy and sell real property prepared by the Seller’s Attorney with no contingencies will be used for each property.  Purchaser agrees they have read and understand the pre-printed Contract to Buy and Sell Real Property.  Purchaser for each property agrees to meet with Broker to execute the Contract to Buy and Sell Real Property within 24 hours of being declared the winning bidder by the Auctioneer.  Purchaser shall, at contract execution, make a payment of $10,000.00 to be held by the closing agent.  This payment will be retained and allocated under the contract as a non-refundable deposit and will be applied to the purchase price at closing.  The remaining balance of the purchase price must be paid at closing which shall occur on or before Wednesday April 12, 2023.  If, for any reason, Purchaser fails to execute the contract or deliver the entire deposit required under the terms here, Purchaser agrees that he or she will pay to Seller and Broker, as liquidated damages, the amount of $50,000.00 and Seller and/or Colorado Premier Realty & Auction Services, Inc may pursue all additional legal remedies and damages available against Purchaser including specific performance.  If Purchaser intends to finance one or more of these properties, Purchaser should have financing arranged prior to the auction.  Seller’s desire is to sell these properties to the best qualified, highest bidder on each property through the auction process.

10.    Seller will convey each property by Personal Representative’s Deed free from all liens and encumbrances.  Seller will pay for an owner’s title insurance policy for each property in the amount of the purchase price.  The cost of closing services for each property shall be divided equally between Seller and Purchaser.  Property taxes and any utilities for each property will be prorated to the day of closing.

11.    Purchaser and Seller agree that electronic delivery of documents and commonly recognized electronic signatures are acceptable.

12.    Purchaser agrees to forfeit the non-refundable deposit or any other earnest money for each property to Seller and Broker and hereby directs the closing agent to deliver the non-refundable deposit or any other earnest money to Broker if Purchaser fails to perform under the contract.  Purchaser agrees to indemnify and hold harmless the closing agent for following these instructions. 

13.    Purchaser agrees that every bid he or she submits may not be withdrawn and is an irrevocable offer to purchase good until 6:00 PM MST on Thursday, March 9, 2023, based on these terms and the Contract to Buy and Sell Real Property.  Seller and Broker or their agents reserve the right to conduct other auctions, to accept a pre-auction offer, withdraw the property from the auction, bid on behalf of a reserve price, reject any bid at any time or cancel the auction at their own discretion for any reason.  Seller & Broker reserve the right to modify these terms for any or all Bidders.

14.    Purchaser of each property and his or her heirs and assigns do hereby release and agree to forever indemnify against all causes of action associated with this transaction Colorado Premier Realty & Auction Services, Inc., Edith Parrish-Kohler Broker, David P. Whitley Auctioneer, Rocky Mountain Estate Brokers Inc., and The Estate of Karen M. Jennison, Kent A Naughton Personal Representative.  This release extends to all physical and environmental conditions of the property.

15.    Any disagreement concerning this agreement shall be heard in a court of competent jurisdiction in Weld County Colorado.  Both parties waive any right to a jury trial and hereby agree to a bench trial before a judge.  This agreement shall be governed in all respects by the laws of the State of Colorado.  If for any reason, a court of competent jurisdiction finds any part of this agreement to be invalid or unenforceable, that part will be enforced to the maximum extent permissible to affect the original intent of this agreement.  If a part is found to be invalid or unenforceable, the remainder of this agreement shall continue in full force and effect.  Such invalid or unenforceable part will be deemed severable from the other parts here and will not affect the validity or enforceability of the remaining parts.  In the event of any litigation arising out of this Contract, the court shall award the prevailing party all reasonable costs and expenses, including reasonable attorney’s fees.  In the event Broker must retain legal counsel because of this agreement, Purchaser agrees to reimburse Broker for her reasonable attorney fees.

16.    The auction web site has “terms of service” and auction terms that are hereby incorporated by reference into this agreement.  In the event there is a disagreement between those terms and this agreement, this agreement shall prevail. 

STANDARD TERMS AND CONDITIONS OF THE AUCTION

By registering to bid or placing a bid, you agree to be bound by all these terms & conditions and any other announced terms and conditions of sale, terms posted in item descriptions or rules of the site.  You agree that bids placed on the internet shall have the same legal effect as if you attended a live auction in person.  There may be special payment or removal terms noted in individual item descriptions that supersede these here.  ASK QUESTIONS BEFORE YOU BID. THERE ARE NO REFUNDS AND NO RETURNS!

1. You, hereinafter “Bidder”, agree that all Merchandise is sold "AS-IS WHERE-IS" with no warranties express or implied and ALL SALES ARE FINAL. RMEB bears no responsibility to any Bidder, buyer or any subsequent buyers or users in regard to the use, application, storage or any other foreseen or unforeseen circumstance associated with the Merchandise, including the use thereof. The Merchandise is open to thorough public inspection. Bidders who choose not to attend the public inspection understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder's responsibility to determine condition, age, genuineness, value, or any other determinative factor. RMEB may attempt to describe the Merchandise in advertising, on the internet and at the auction but makes no representations. In no event shall RMEB be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. RMEB does not guarantee any appraisals, gradings or certifications. If you have any questions about the merchandise, ASK THEM BEFORE BIDDING. Bidder shall be the sole judge of value. It is Bidder's responsibility to determine if any item is legal where they live. By placing a bid, Bidder acknowledges that he/she has inspected the items to his or her satisfaction or chooses to not examine the items at his or her sole risk.

2. RMEB will not be responsible for any errors or omissions in the description of the Merchandise unless it is a material and intentional misrepresentation of the item itself. Bidder agrees that he or she may not return any item they purchase for any reason except an intentional and material misrepresentation of the item itself made by RMEB. Bidder's sole remedy in the event of an intentional and material misrepresentation of an item shall be to return the item, at their expense and in the same condition it was delivered or shipped to them. If RMEB agrees that the item was materially and intentionally misrepresented RMEB will refund Bidder's purchase price to him/her. Some items may be sold "times the money". A “times the money” sale is the quantity of items sold multiplied by the bid price to determine the total lot price.  If the count on a "times the money" lot is found to be incorrect; RMEB will adjust Bidder's final invoice to reflect the accurate count. No adjustment will be made on bulk or "one money" lots. Bidder agrees that under no circumstances whatsoever will RMEB ever be liable to Bidder for an amount greater than the purchase price of the item he/she purchased.

3. In consideration of being allowed to participate in the auction, Bidder agrees that all bids Bidder places are firm offers to purchase and irrevocable.  BIDS CANNOT BE REMOVED UNLESS IT IS AN OBVIOUS TYPOGRAPHICAL ERROR. MAKE CERTAIN WHAT YOU ARE BIDDING ON BEFORE YOU BID. RMEB reserves the right to charge Bidder's credit card the full amount of any or all of Bidder's bids at any time. Everything MUST be paid for in full by 6:00 PM the day after the auction unless other terms are posted with the auction or an individual auction item. All Bidders agree to pay a buyer's premium equal to Eighteen- and One-Half Percent (18.5%) of the hammer price of each item they purchase. If the hammer price of an item is $100.00, the buyer's premium will be $18.50 for a total purchase price of $118.50. Under state law, sales tax will be collected on the entire amount. There is a 3.5% discount for cash payments THE DAY AFTER THE AUCTION ONLY. Bidder herby grants RMEB the authority to charge his or her credit card on file the full amount due for Bidder's purchases or partial amounts at any time until Bidder's invoice is paid in full. Title passes to Bidder only when Bidder pays in full, and Bidder's payment has been honored.

4. All titled vehicles are sold AS-IS TOW AWAY regarding emissions tests. Emission tests are not provided unless it is stated in the item description. If an emission test is provided, it is only valid in the area for which it was issued. If you plan to register a titled vehicle in an area that requires an emission or other test, emissions or other tests are not guaranteed, and it is sold AS-IS unless stated otherwise in the item description. It is Bidder's sole responsibility to determine if a titled vehicle is legal and able to be registered where Bidder lives.

5. If firearms are sold, all Federal and Colorado laws and regulations will be followed. Some firearms may not be legal in Bidder's jurisdiction. It is Bidder's sole obligation to determine if a firearm they purchase is legal where they live. There is a restocking fee of 25% of the total purchase price if any firearm(s) must be returned due to a Bidder's local law. If Bidder is unable to take legal delivery of any firearm(s) he or she will return the firearm(s) to RMEB and pay a restocking fee of 25% of the total purchase price. Magazines that are not legal where Bidder lives are not included in the sale. No credit will be given for the magazine. Bid accordingly and let your legislators know how you feel.

6. RMEB is providing internet only bidding for this auction. Bidder acknowledges and understands that this service may or may not function correctly at any time, including during the auction closing time. Under no circumstances shall Bidder have any kind of claim against RMEB or anyone else if the internet service fails to work correctly before or during the auction closing time. RMEB will not be responsible for any missed or failed bids from any source. Bidders who desire to make certain their bid is acknowledged should place their maximum bids at least two hours prior to the auction closing time. Items included in this auction may have extended bidding or grouped extended bidding that will extend the closing time of an item or group of items. RMEB reserves the right to withdraw or re-catalog items in this auction. In the event of any software problem, mistake or other issue, RMEB reserves the right, at its sole discretion, to extend the closing date and times, change the extension time, stop, restart, or cancel this auction. Even though an item may display as "sold" on the internet, no sales are final until they are certified by RMEB and Bidder receives an invoice. RMEB reserves the right to cancel any or all sales and resell the items in whatever manner it chooses.

7. The bids are advanced at pre-set increments available on the bidding web page which may be changed at any time in RMEB's sole discretion. RMEB may accept items with secret reserve prices. The seller and RMEB reserve the right to bid on behalf of the seller on items on which there may be a reserve price. RMEB may reject or cancel any bid for any reason. The record of the auction made by RMEB shall be conclusive. This is a Public Auction and as such, all qualified bidders may bid including RMEB owners, family members and employees.

8. All merchandise shall be removed from the premises by Bidder at her/his own risk and expense within the time announced on the bidding site. RMEB may, at its sole discretion, change the removal dates and times to comply with local, state, or federal regulations. If other removal times are not posted on the bidding site, all merchandise purchased at this auction must be removed by 5:00 PM the day following the auction unless Bidder is paying to have it shipped by RMEB. Items not removed by this time will have a minimum charge of $10 per lot, per day added and the items may be forfeited to RMEB with no refunds.  There is a minimum charge of $200.00 to open the property at any other time. Bidder should arrange to pick up his/her purchases within this time. RMEB or a professional shipping company may ship merchandise not picked up. Bidder hereby grants any shipper of RMEB's choosing the right to charge Bidder’s credit card the entire amount of packing, shipping, and handling costs. If Bidder does not pay for shipping, Bidder shall have no claim against RMEB and will forfeit the merchandise with no refunds. All items will be insured for the purchase price. Our priority is to deliver your new purchase in excellent condition. Bidder agrees that any merchandise not removed by Bidder within seven days of the auction will be forfeited to RMEB with no refunds. Bidder shall have no claim to merchandise not removed by the above date.

9. If a check accepted by RMEB is returned for any reason, Bidder agrees that RMEB may re-present it in person or electronically and collect the full amount of the check as well as the highest service charges and fees allowed under Colorado law. Any amount left unpaid shall accrue interest at the highest rate allowed under Colorado law. Unless exempted by law, Bidder shall pay all applicable taxes. Bidder agrees to indemnify RMEB against any claim if sales tax is not collected on Bidder's purchases. Bidder agrees to not stop payment on any check paid to RMEB. Bidder further agrees that under no circumstances will he/she initiate a chargeback on his/her credit card. Title to the merchandise transfers to Bidder only when Bidder's payment is honored.

10. RMEB may refuse registration and bidding privileges to anyone for failure to pay previous auction invoices, failure to provide a valid credit card or any other reason. Bidder hereby agrees that RMEB may share information about Bidder's non-payment of auctioneer invoices or shipping charges with other parties and may pursue collection of balances due by any legal means. Bidder agrees to provide any identification RMEB may request including but not limited to driver's license, state issues ID or Passport. Bidder agrees to comply with any stated additional terms or conditions posted on the bidding site.  RMEB may waive or modify any terms of the auction for individual bidders at its sole discretion.

11. Bidder and his or her agents and employees are responsible for any damage they may cause or liability that may attach from any of their actions on or around the auction site and premises when attending the exhibition, sale, or removal of merchandise. 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 indemnify Rocky Mountain Estate Brokers Inc. (RMEB), whitleyauction.com, 24 Oaks LLC, Catherine L. Giddings and David P. Whitley from any liability and causes of action associated with the auction preview, the auction or auction loadout and merchandise payment and item retrieval.

12. Bidder agrees that this agreement shall be governed by the laws of the state of Colorado and hereby grants sole jurisdiction and agrees to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Weld County, Colorado. Both parties waive any right to a jury trial and hereby agree to a bench trial before a judge. This agreement shall be governed in all respects by the laws of the State of Colorado. If for any reason, a court of competent jurisdiction finds any part of this agreement to be invalid or unenforceable, that part will be enforced to the maximum extent permissible to affect the original intent of this agreement. If a part is found to be invalid or unenforceable, the remainder of this agreement shall continue in full force and effect. Such invalid or unenforceable part will be deemed severable from the other parts here and will not affect the validity or enforceability of the remaining parts. In the event of any litigation arising out of this Contract, the court shall award the prevailing party all reasonable costs and expenses, including reasonable attorney's fees.

13. By registering for this auction, you agree to be added to RMEB's email list. Each email we send has an easy unsubscribe link at the bottom of the email. Please do not report our emails as spam. Photo, video, and audio recording is being made at all auction exhibitions and removal events. Bidder hereby agrees that RMEB may use Bidder's likeness, recorded at these events, for any purpose. We hope you enjoy our auction and can make many advantageous purchases.

Closing for each property will be on Wednesday, April 12, 2023.