Terms & Conditions

TERMS & CONDITIONS (Real Estate)

• Online bidders must contact W. Todd Hess at 256-541-2964 within a minimum of 24 hours prior to the auction to complete registration for bidding online. No exceptions! A bank Letter of Guarantee in the amount of 10% of the minimum bid price may be required to complete registration.
• A 10% Buyers Premium to be added to the final bid to determine the contract price on the Real Estate.
• All property is sold “AS IS, WHERE IS”. Cole Auction works strictly as an agent for the seller.
• 10% down day of the sale, balance to be paid in 30 days or less.
• Property is selling subject to all restrictions, easements and rights-of-ways.
• Seller to pay prorated taxes and provide clear deed and title.
• Purchaser to pay all of their own closing costs.
• All decisions of the Auctioneer are final in case of bidding disputes.
• Seller reserves the right to deny or expel anyone who attempts to disrupt the sale.
• Property is to be considered to be sold under reserve unless otherwise specified. Cole Auction does not disclose the reserve price prior to the live auction.
• Seller reserves the right to accept a winning bid prior to the live auction.
• Property maps, surveys, inspections, etc. are for reference and sale purposes only. Neither the Auction Company nor the seller guarantees any of the information given.
• It is the responsibility of the buyer to verify all specifications and conditions of the property.
• No warranties or guarantees are being made as to condition, age or value prior to sale date.
• No contingencies shall apply to the sale of the property, including a buyer receiving financing.
• Buyers & Sellers and/or their agents may bid at the live auction, online, or by phone. Employees of Cole Auction may bid on behalf of others up to and including online bids, phone bids, absentee bids, and prebids.
• All information that is being given is believed to be correct and reliable but is not guaranteed by the Auction Company.
• Announcements made day of the sale take precedence over any written material.
• Cole Auction will pay outside brokerage 2% of net commission. Sales price minus concessions (i.e., expenses and/or commission reductions). Agents must register with Beau Cole at beaucole@msn.com prior to auction. NO EXCEPTIONS! Agents and/or their clients must participate in the live auction to qualify for the payment.

• Cole Auction does not accept credit cards for real estate purchases.
• 10% Premium due within 24 hours after close of auction. Contact Beau Cole at 256-837-0701 for wiring instructions. Remaining balance due upon closing. $25 fee for wire transfers is waived for real estate purchases.
• Purchaser has 30 days to close, but time to close may be extended on a case-by-case basis.
• Purchaser pays their own closing costs, but has the right to choose the closing attorney or title agent.