Witt Estate

EXHIBIT “B”

TERMS AND CONDITIONS
Estate Sale for:
Jeanne L. Witt Estate
143 Sterling Court – Alpharetta, GA 30004
Thursday, January 21, 2021

CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered a contract with Wanda Lois Witt, Executrix, (Seller), TO OFFER AT AUCTION Real and Personal property located at: 143 Sterling Court, Alpharetta, GA 30004.

All property, real and personal, is selling “AS IS, WHERE IS” free and clear from all liens and judgments. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed, or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum, or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Auctioneer makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction, that he/she has inspected the Property and are not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof.
We require all bidders register and obtain a bid number to participate in the bidding process. This is a cash sale. It is not contingent upon purchaser obtaining financing.

All decisions of the auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the Auction.

These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract, which will prevail over this document and any other agreement between the buyer and seller.

The Seller has the right to add or withdraw all or any portion of the property before the auction on Thursday, January 21, 2021 @ 2:00PM.

Property is sold subject to Court Approval by the Judge of the Superior Court of Sebastian County, Arkansas.
RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to all restrictions, public utilities, encroachments, zoning ordinances, easements, of the City of Alpharetta and Fulton County regulations, covenants, any existing rights of way and all other matters now of record.

PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This payment may be made with either a personal or company check. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Company. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.

ONLINE PURCHASERS PAYMENT: If an Online Bidder is awarded the winning bid, he/she authorizes Dempsey Auction to charge the credit card, on file, for the full amount of the down payment of the contract sales price, unless prior arrangements have been made thru Dempsey Auction.

PERSONAL PROPERTY: Full payment due and collected today on ALL PERSONAL PROPERTY. Payment can be made with CASH, Good Check either Personal or Company, Major Credit Card also. If paying by Credit Card an additional 3.5% convenience fee will be added to your payment. Fulton County sales tax of 7.75% will apply to ALL Personal Property purchases.

***ALL PERSONAL PROPERTY MUST BE REMOVED FROM THE PREMISES TODAY! If the property cannot be moved today the Purchaser must make arrangements with Auction Personnel prior to leaving the property.

SURVEY: The real estate has not been previously surveyed for this auction. We are selling and conveying the property according to the deed of record being recorded in Deed Book 25738 at Page 325 in the office of the Clerk of the Superior Court, Fulton County, GA.

CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. The closing attorney is Mr. Howard Delashmit, of the firm Brumlow Corwin and Delashmit, 250 S. Tennessee Street, Cartersville, GA 30120. We encourage you to contact Dana or Kristen, Executive Assistants at 770-382-5259, kristin@bcdlaw.com or dana@bcdlaw.com or howard@bcdlaw.com.
as soon as possible to discuss the closing.
CLOSING COSTS: The seller will provide a warranty deed at closing. If the seller is unable to convey clear title to the property, the Purchaser(s) Earnest money deposit will be returned.

All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense.

POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before February 26, 2021

TAXES: The Real Estate property taxes will be prorated to the date of closing. If any additional taxes are assessed resulting from the change of use by the purchaser, they will be the responsibility of the purchaser.

AGENCY: The auctioneer is acting as agent for the seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between seller and the auctioneer. The auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the auctioneer.

BUYER’S NOTE: Dempsey Auction Company and the seller reserve the right to amend any terms of conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneer. The auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. All announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information.

METHOD of SALE:

Selling the Condominium “by the dollar” Subject to Court Approval:

Selling remaining personal property and contents at Absolute Auction immediately after the sale of the REAL ESTATE:


Dempsey Auction Company is the “Agent of the Seller” and our fiduciary duties of loyalty and faithfulness are owed to the Seller.

NOTE: This auction is being recorded by audio in its entirety for legal purposes.

I have received, read, understand, and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “B”.