By bidding with our auction company, you are agreeing to the following.
This property will be sold subject to the owner's acceptance of the final bid. The Purchase Price will be the combined sum of the winning bid plus a buyer’s premium of ten percent (10%) (in other words, if the winning bid is $1,000, the purchase price will be $1,100). The successful bidder will be required to pay a non-refundable deposit of ten percent (10%) of the Purchase Price or $15,000.00, whichever is greater, which will be held in Monahan Real Estate & Development, L.L.C. Escrow Account at Citizens Bank in Buffalo, New York. The deposit is to be paid as follows:
- $15,000.00 in the form of a certified check (or other form of immediately available funds acceptable to the Auctioneer) immediately upon the bid being struck down.
- The remaining portion of the deposit, in excess of $15,000.00, is payable within five (5) days of acceptance of the bid at the offices of Monahan Real Estate & Development, LLC.
No personal checks! Proof of funds is required in order to bid. Closing will take place approximately 45 days from the end of the auction and is not contingent on the buyer's ability to secure funds. Cooperating brokers will be protected at 2% if they register their client BEFORE they bid with Cash Auctions by Monahan Real Estate & Development, LLC. Brokers have by 12 pm on Friday, May 28th to register their client and must do so by emailing email@example.com. Cash Auctions by Monahan Real Estate & Development, LLC is acting as exclusive agent for the seller.
All sales are final. Everything is sold "AS IS" with no guarantees unless otherwise stated by the auctioneer. It is the responsibility of the bidder to assure him or herself as to the condition of items prior to bidding, as there will NOT be an open house. Condition reports given by the staff of Cash Auctions by Monahan Real Estate & Development, LLC are subjective, and while we strive to be honest, we will not be held responsible or liable for any errors in description. Buyer is responsible for examining items before bidding. Auction company does not take responsibility for buyer's failure to examine. Merchandise is not subject to adjustments once the item has been sold.
Payment is due in full within the time limits posted in the auction. Personal checks are NOT accepted for this auction. We accept cash, certified bank draft. 10% buyer's premium is added to the final bid.
By bidding with our auction you are entering into a contract with our terms and conditions. You are accepting responsibility to perform your duties as winning bidder, and agreeing that Cash Auctions by Monahan Real Estate & Development, LLC, its employees, officers, owners, representatives, agents, and consignors will not be held liable for any losses, claims, liabilities, judgments, expenses, fees, or other damages arising from the use of our services, website, auction property, and this site, including property damage, injuries, dispute with another bidder, or breach by bidder of this site. Any liability to a purchaser will not exceed the purchase price actually paid.
Cash Auctions by Monahan Real Estate & Development, LLC will not be held responsible for any interruption in internet service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. By bidding with our company you are accepting that this auction is conducted electronically and relies on hardware and software that may malfunction without warning.
Cash Auctions by Monahan Real Estate & Development, LLC has the right to void any sale, suspend bidding, re-sell any item/lots for any other reason.
Bids cannot be retracted once the auction begins.
In the event of legal proceedings arising from this contract or from the auction in connection therewith, buyer consents to being subject to the personal jurisdiction of the courts of the State of New York, Erie County.