1. PROCESS: Any person who registers or bids at an auction (“Bidder“) conducted by MO Auctions agrees to be bound by these Terms and Conditions, the auction announcements, and the Contract for Purchase and Sale (the “Contract”). These Terms and Conditions shall be binding on the parties thereto and their successors and assigns. By signing below, Bidder further acknowledges receiving a copy of these Terms and Conditions for their records. A bid placed by Bidder will be deemed conclusive proof that Bidder has read, understands, and agrees to be bound by these Terms and Conditions. Bidding for each auction ends at the time specified in the auction details on the auction website for each particular auctioned property, with a soft close, meaning that a bid in the final minute will extend bidding by 5 minutes. Once submitted, a bid may not be retracted. Any attempt by Bidder to retract a bid will result in Bidder being prohibited from participating in any future auction held by MO Auctions or MO Realty Home & Land (“MO Realty”) and may subject such Bidder to potential legal liability, including, but not limited to, liability for damages suffered by the seller of the auctioned property (“Seller“), MO Auctions and/or MO Realty.  All bids placed are by the acre or lump sum, as provided in the auction details on the auction website for each particular auctioned property. 

 

2. BUYER’S PREMIUM: A Buyer’s Premium will be added to the final bid price to arrive at the contract sales price. The amount of the Buyer’s Premium will be stated in the auction details on the auction website for each particular auctioned property.

 

3. INSPECTION: Any and all inspections that a Bidder may want must be done at Bidder’s expense prior to auction. Auctions are NOT contingent upon or subject to financing, appraisal, survey, inspections, or any other contingency of any kind nor will closing of the sale of the auctioned property be delayed for any such reason. All inspections shall be made and financing arranged prior to the close of bidding. It is Bidder’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns; or any other desired inspection. Bidder acknowledges that Bidder has been provided an opportunity to inspect the auctioned property prior to the auction and that Bidder has either performed all desired inspections or accepts the risk of not having done so. Any information provided by Seller or MO Auctions has been obtained from a variety of sources. Seller and MO Auctions have not made any independent investigation or verification of the information and make no representation as to its accuracy or completeness. In bidding on the auctioned property, Bidder is relying solely on Bidder’s own investigation of the auctioned property and not on any information provided or to be provided by Seller, MO Auctions or MO Realty.

 

4. ACCEPTANCE OF BID PRICES: In the event Bidder is the successful Bidder at the auction, Bidder’s bid constitutes an irrevocable offer to purchase the auctioned property and Bidder will be bound by said offer. The successful Bidder will enter into the Contract for the auctioned property immediately upon being declared the successful Bidder by the Auctioneer. Upon the close of the auction, the Contract will be forwarded via email to the successful Bidder. MO Auctions must receive a signed copy of the Contract from the successful Bidder on or before twenty-four (24) hours after the end of the auction. The down payment from the successful Bidder shall be made upon acceptance of the Contract by Seller. The Contract will be accepted via hand delivery, fax, or email of a scanned copy at the address and/or number set forth on the signature page below. In the event that Bidder is the successful Bidder but fails or refuses to execute the Contract, Bidder acknowledges that, at the sole discretion of Seller, these Terms and Conditions together with the Contract executed by the Seller are to be construed together for the purposes of satisfying the statute of frauds and will collectively constitute an enforceable agreement between Bidder and Seller for the sale and purchase of the auctioned property. Further, a successful Bidder who does not execute and return the Contract within twenty-four (24) hours of the end of the auction and deposit the down payment upon acceptance of the Contract, will be considered in default and will remain liable to MO Auctions, MO Realty and/or Seller for any damages resulting from its failure to comply with these Terms and Conditions.

 

5. BIDDER VERIFICATION: All Bidders must provide their full name, address and daytime/evening phone number. MO Auctions reserves the right to deny registration or reject any Bidder. The identity of all Bidders will be verified, bidding rights are provisional, and if complete verification is not possible, MO Auctions will reject the registration, and bidding activity will be terminated. Seller, Seller’s agent and MO Auctions reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the MO Auctions website all Bidders must obey any and all local state and federal laws. Violations will result in termination of website use privileges.

 

6. DOWN PAYMENT: Ten percent (10%) of the purchase price of the auctioned property will be due from the Successful Bidder upon acceptance of the Contract by Seller. Business or Personal Checks or Wire Transfer are accepted. The Successful Bidder shall be responsible for all wire transfer fees.

 

7. CLOSING: Closing shall be on or before 3:00 PM on the date set forth in the Contract.

 

8. POSSESSION: Possession will be given at closing, subject to the remaining rights of the current tenant, if any.

 

9. TITLE: Seller shall furnish the successful Bidder(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a deed conveying title to the auctioned property to the successful Bidder(s). The auctioned property is and shall be subject to any and all easements, whether recorded or not recorded, all other matters of record, any matters that would be reflected on a survey of the auctioned property, and all state and local zoning regulations.

 

10. SURVEY: AT SELLERS’ OPTION, Seller may provide a new survey where there is no existing legal description to convey title. If Seller does not provide a new survey, Buyer may, at Buyer’s option and expense, obtain a new survey. 

 

11. REAL ESTATE TAXES: The real estate taxes for the year of closing shall be paid in accordance with the terms in the auction details on the auction website for each particular auctioned property and in the accepted Contract.

 

12. PARTICIPATION AND COMPLIANCE: By participating in an auction, Bidder represents, irrefutably warrants and covenants that: 

 

(A)       All information contained in the auction details on the auction website for each particular auctioned property and all related materials are subject to the terms and conditions outlined in the Contract. BIDDER ACKNOWLEDGES AND AGREES THAT ALL AUCTIONED PROPERTY IS OFFERED, AND IS BEING SOLD, IN ITS “AS IS” AND “WHERE IS” CONDITION, WITH ALL FAULTS, DEFECTS AND LIMITATIONS, WHETHER OR NOT APPARENT. No warranty or representation either expressed or implied, concerning the auctioned property is made by the Seller, Seller’s agent, MO Realty or MO Auctions. All lines drawn on maps, photographs, etc., of the auctioned property are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the auctioned property prior to bidding. The information in the auction details on the auction website for each particular auctioned property is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Seller’s agent, MO Realty or MO Auctions. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. All decisions of MO Auctions are final. Without limiting any other provision of these Terms and Conditions, Bidder agrees that the auctioned property is subject to all terms and conditions set forth on the auction website. Bidder acknowledges and agrees that the Mo Auctions, the auction website, and Seller have not made, do not make and specifically negate, and disclaim, any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to the auctioned property. This disclaimer shall include: (a) the value, nature, quality or condition of the auctioned property, including, without limitation, the water, soil and geology; (b) any income to be derived from the auctioned property; (c) the suitability of the auctioned property for any and all purposes, including occupancy, and any activities or uses which may be conducted thereon; (d) the compliance of or by the auctioned property or its operation with any laws, rules, ordinances, or integrity of the land or any buildings or improvements of any applicable governmental authority or body; (e) the habitability, merchantability, marketability, profitability or fitness of the auctioned property for any particular purpose; (f) the manner or quality of the construction or materials, if any, incorporated into the auctioned property; (g) the manner, quality, state of repair or lack of repair of the auctioned property; (h) the existence of any view from the auctioned property or that any existing view will not be obstructed in the future; (i) the conformity of the improvements to any plans or specifications for the auctioned property that may be provided to you; (j) the conformity of the Auctioned property to applicable zoning or building code requirements; (k) the existence of soil instability, past soil repairs, susceptibility to landslides and/or sinkholes, sufficiency of under-shoring, sufficiency of drainage, or any other matter affecting the stability or integrity of the land or any buildings or improvements situated thereon; (l) whether the auctioned property is located in a special studies zone under the public resources code or a seismic hazards zone or a state fire responsibility area, or a special flood hazard zone; or (m) any other matter with respect to the auctioned property.

 

(B)       Neither Seller, MO Auctions, or MO Realty makes any representations or warranties as to the accuracy or completeness of any information contained online at the website. All prospective Bidders are required and encouraged to conduct their own due diligence and investigate all matters relating to the auctioned properties that they are interested in purchasing at the auction. Online bidding is provided on an “as is, where is, as available, and with all faults and limitations” basis. No warranties, expressed or implied, including, but not limited to, those of merchantability or fitness for a particular purpose or use, are made with respect to the online bidding platform or any information or software therein. Upon registering as a Bidder and bidding during the auction, each Bidder shall be deemed to represent, warrant and agree that with respect to each auctioned property it bids upon: (a) that such Bidder has examined, or has had the opportunity to examine, the auctioned property and is familiar with the physical and legal condition thereof and has conducted such investigation of the auctioned property as the Bidder has considered appropriate; (b) neither MO Auctions, MO Realty, or Seller nor any affiliate, agent, director, officer, employee or representative of either of them, has made any verbal or written representations, warranties, promises or guarantees whatsoever to the Bidder, expressed or implied, and in particular, that no such representations, warranties, guarantees, or promises have been made with respect to the physical condition, operation, legal condition, or any other matter or thing affecting or related to the auctioned property and/or the offering or sale of the auctioned property; (c) Bidder has not relied upon any representations, warranties, guarantees or promises or upon any statements made or any information provided concerning the auctioned property, including but not limited to online at the website or the information provided or made available by Auctions, MO Realty, or Seller, or their respective agents, directors, officers, employees or representatives; and (d) Bidder has determined to make its bid after having made and relied solely on its own independent investigation, inspection, analysis, appraisal and evaluation of the auctioned property and the facts and circumstances related thereto, including but not limited to, any and all outstanding liens, encumbrances, assessments, dues, fines and/or penalties.

 

14. MALFUNCTION, SHUTDOWN, AND LOSS OF SERVICE: The results of the auction may be rendered void if malfunction, shutdown, or temporary loss of internet service occurs. In such an event, MO Auctions reserves the right to remedy the situation in whichever way best benefits the Seller, including the cancellation of existing bids. MO Auctions shall not be held liable in any way for any malfunctions, shutdowns, or loss of internet service. Bidder acknowledges and understands that internet service may or may not function correctly at the close of the auction. Under no circumstances shall Bidder have any kind of claim against MO Auctions or anyone else if the internet service fails to work correctly during the close of the auction. MO Auctions will not be responsible for any missed bids from any source.

 

15. INDEMNIFICATION AND ACCEPTANCE OF TERMS; WAIVER OF JURY TRIAL: Bidder agrees to indemnify and hold harmless Seller, Seller’s agent, MO Realty and MO Auctions from and against all claims and liabilities resulting from any online auction, including but not limited to: proximate or consequential damages, failure to comply with local, state, or federal laws, and cost of legal expenses arising therefrom. No person shall have any claim against MO Auctions, MO Realty, their respective agents or employees for any injuries sustained or damages to or loss of auctioned property that may occur. These Terms and Conditions, and all questions with respect to the interpretation of these conditions, shall be governed by and construed in accordance with the laws of the State of Missouri, without regard to conflict of laws provisions. Bidder expressly consents to personal and exclusive jurisdiction in the courts of the State of Missouri located in St. Charles County. BIDDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY. In bidding, Bidder consent to agreeing with all the Terms and Conditions stated above and any auction specific terms posted in the auction details on the auction website for each particular auctioned property and/or terms emailed to Bidder and or terms provided to Bidder by MO Auctions.

 

16. ACKNOWLEDGMENT OF RISK: Potential Bidders when inspecting and successful Bidders or their agents acknowledge that the auctioned property is a potentially dangerous place. Every person who enters the auctioned property does so at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. Successful Bidders will so advise their agents and employees. This acknowledged risk extends into all activities involved in the inspection of the auctioned property and preparation of the auctioned property for closing, including disconnection of utilities. Persons attending the auctioned property during preview, sale or inspection assume all risks of injury damage or loss of auctioned property and specifically release Seller, Seller’s agent, MO Realty and MO Auctions from liability. 

 

17. ANNOUNCEMENTS: Auction announcements take precedence over anything previously stated or printed, including these Terms and Conditions.

 

18. NO ADDITIONAL RIGHTS: These Terms and Conditions, especially as they relate to the qualifications of potential Bidders, are designed for the protection and benefit of Seller and do not create any additional rights or causes of action for Bidder. On a case-by-case basis, and at the sole discretion of Seller or MO Auctions, exceptions to certain Terms and Conditions may be made.

 

19. SEVERABILITY: In the event that any provision contained in these Terms and Conditions is determined to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the validity, legality, and enforceability of the remaining provisions of the Terms and Conditions will not be in any way impaired.

 

ADDRESS:   2301 St. Paul Road, St. Paul, Missouri 63366.

E-MAIL:   auctions@morealtyco.com 

Phone:   (636)978-7653