13 Glendale Street, Nutley, NJ 07110
Thank you for participating in the Williams & Williams (“Auctioneer”) First Look Investor Only Quitclaim Online Auctions (“First Look Auction”). It is important that you familiarize yourself with these Terms & Conditions as all bids are final and irrevocable. Your registration for the Auction finalizes each bidder’s agreement to these Terms & Conditions and the Contract for Sale of Real Estate at Auction, including all addenda, disclosures, and attachments thereto, governing the subject Property (together, the “Contract for Sale”) all of which are incorporated by reference into your bid. DO NOT BID unless you have registered and are approved to bid, reviewed these Terms & Conditions and the Contract for Sale and agree to be bound by the same. By placing a bid, you agree to these Terms & Conditions and the terms of the Contract for Sale. A copy of the Contract for Sale, disclosure documents, and Property attributes are posted on the detail page for each Property at www.williamsauction.com. These Terms & Conditions control the sale of the Property and are non-negotiable. Good luck and good bidding!
Registration & Approval Required to Bid. If you wish to bid on a First Look Auction Property, you must register and be approved by Auctioneer. To register please go to First Look Registration and follow the registration instructions. Auctioneer reserves the right to prohibit a company or individual from participating in the auction and reserves the right to suspend bidding privileges at any time for any reason. Please visit www.williamsauction.com/FirstLook and/or contact 866.921.7302 for questions regarding the registration and approval process.
Buyer acknowledges that the Property IS CURRENTLY OCCUPIED. BUYER TAKES TITLE SUBJECT TO ANY RIGHT OF THE OCCUPANTS. BUYER WAIVES ANY RIGHT TO INSPECT THE PROPERTY PRIOR TO CLOSING. Seller makes no representations as to whether the Property will be occupied at the time of closing, and the Seller shall not be obligated to evict or remove the occupants. Properties may be subject to certain redemption rights of the prior owner or occupants. Buyer shall HAVE NO right to cancel the transaction based upon the occupancy status of the Property and shall remain bound by these Terms & Conditions and the Contract for Sale. Buyer shall be responsible with complying with all applicable local, state, and federal laws with respect to occupied Properties and is encouraged to determine the applicability of same, including, without limitation, the Protecting Tenants at Foreclosure Act of 2009 set forth as Division A, Title VII of the Helping Families Save Their Homes Act of 2009 (the “Act”) and the terms of the United States Servicemembers Civil Relief Act (“SCRA”). Buyer MUST NOT trespass on the Property or disturb the occupants.
A Buyer's Premium (Buyer's Fee in WI) of 5% ($1,500 minimum) will be added to the high bid and included in the total purchase price. Please see the Sale Day Notes, the Contract for Sale, and/or the Auctioneer for specifics about the Property you wish to bid on.
Each high bidder must make a 10% non-refundable Down Payment per Property ($5,000 MINIMUM - whichever is greater) at the conclusion of the auction. Electronic wire funds, bank account by ACH, electronic check conversion, and cashier's checks are the only forms of payment accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the Down Payment and closing. Once the Seller approves the sale, the Down Payment will be credited to the total sales price indicated in the Contract for Sale. The balance of the purchase price and all closing costs are due at closing. Closing costs generally total approximately $1,400 and include title exam, title policy, closing fee, filing costs and any other fees noted. Down Payment funds will not be transferred to any title company, or other party, for closing until the Auctioneer's financial institution indicates the funds have cleared and are available for transfer. Buyer is responsible for tendering the balance of the required Down Payment amount for each Property within twenty-four (24) hours of the conclusion of the auction. Buyer agrees that in the event Buyer fails to timely execute and return the Contract for Sale, tender the required Down Payment, or tender the balance of the total purchase price (and other required fees and costs) prior to the closing date, Buyer shall be deemed in breach of these Terms & Conditions and/or the Contract for Sale. In such instance, the buyer will be subject to liquidated damages as set forth in the Contract for Sale, and Seller and/or Auctioneer shall have the right to terminate the Contract for Sale and retain the Down Payment and/or any other funds tendered pursuant to the Contract for Sale as a remedy for Buyer’s breach. Buyer expressly acknowledges that damages to the Auctioneer and Seller resulting from buyer’s breach of these Terms & Conditions and the Contract for Sale would be difficult and impractical to calculate and agree that the Down Payment and/or other funds tendered pursuant to the Contract for Sale amounts are a reasonable pre-estimate of the damages to Auctioneer and Seller. Finally, Buyer agrees that retention of the Down Payment and/or other funds tendered pursuant to the Contract for Sale amounts as liquidated damages is reasonable remedy and is not a penalty.
THE PROPERTY WILL BE CONVEYED TO THE BUYER VIA QUIT CLAIM DEED, "AS-IS, WHERE-IS," WITH NO FINANCING, INSPECTION, OR OTHER CONTINGENCIES TO SALE AND SUBJECT TO ALL LIENS, ASSESSMENTS, ENCUMBRANCES, LEVIES, AND FINES OF ANY KIND OR NATURE KNOWN AND UNKNOWN, WITHOUT WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE OF INSURABLE OR CLEAR TITLE. Any manufactured housing not already considered attached to the real estate will be conveyed only with a hold harmless agreement or quit claim Bill of Sale unless otherwise noted.
NOTICE: Institutional and Fiduciary Sellers (courts, government agencies, banks and trustees) have not occupied the Properties and have NO information to provide for disclosure. Properties are sold “AS-IS, WHEREIS.” Auctioneer represents the Sellers only and does not inspect Properties on bidder's behalf. Buyers must conduct their own due diligence and investigation of each Property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Auctioneer. Failure of a Buyer to be fully informed on the condition of a Property will not constitute grounds for any claim adjustment or right to cancel the sale. All the information contained on this Property was obtained from official county maps or other sources deemed reliable but is not guaranteed and may be in error. Auctioneer and Seller DO NOT WARRANT the accuracy thereof. Auctioneer and Seller have made no independent investigation of any information provided and assume no responsibility for providing or the absence of any information, whatsoever, or for the accuracy thereof.
THE SALE WILL BE CONTROLLED BY THE AUCTIONEER PROGRAM. Auctioneer is not responsible for malfunctions or system errors which could occasionally cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down Properties or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids. Absentee bids may be accepted at the discretion of the Auctioneer. Any and all decisions of the Auctioneer regarding the order and conduct of the auction shall be final and absolute without liability to any party. Seller reserves the right to cancel or withdraw any Property at any time.
All auctions are subject to court or seller approval. Most sales are approved within 14 days. Buyers are not allowed possession until filing of the deed, at which time the Property should be re-keyed. "Showing" requests from Buyers after the auction may not be able to be accommodated.
Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved. The Auctioneer will call the sale and control any increments of bidding. The bidding will continue for a period of three (3) to five (5) days for each Property. The auction ends at a predetermined time, with an Overtime Period if necessary, which is defined as follows: if a bid is placed within three (3) minutes of the close of bidding, then another three (3) minute period commences from the time of the last bid until no bids are placed within the next three (3) minutes. The last bid shall be made final.
Following the close of the auction, Auctioneer or Title Company will contact Buyer by electronic mail, telephone or facsimile to provide documents for execution. All purchase documents will be provided to the Buyer and Buyer will be required to sign and return all purchase documents to Auctioneer via overnight delivery. Buyer shall have two (2) days following the auction to return all completed documents or shall be subject to paying a liquidated damages amount equal to the Down Payment. If you wish to have the purchase documents reviewed by an attorney, please contact Auctioneer PRIOR to the Auction and we will provide them to you for review so as to not delay the post auction process. You may also obtain a copy of our current contract on our website at www.williamsauction.com. The contract is not subject to negotiation. The Down Payment is not an “option” payment. The balance of the Total Purchase Price, along with all other costs and/or fees, must be paid as required in the Contract for Sale.
If Buyer is a winning bidder and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the Property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional acts.
SELLER AND AUCTION COMPANY HAVE NO KNOWLEDGE OF THE SUBJECT PROPERTY OR ITS FIXTURES OR CONDITION AND ARE NOT RESPONSIBLE FOR SUCH.
IN CERTAIN CIRCUMSTANCES AUCTIONEER WILL ALLOW THE PAYMENT OF THE BID DEPOSIT VIA CREDIT CARD. IN THOSE APPROVED INSTANCES, YOU AGREE TO AND THE AUCTIONEER WILL PLACE AN AUTHORIZATION AND HOLD ON YOUR MAJOR CREDIT CARD IN THE AMOUNT OF THE BID DEPOSIT. IF YOU ARE THE HIGH BIDDER, YOU WILL BE REQUIRED TO INITIATE A WIRE TO THE AUCTIONEER FOR YOUR DOWN PAYMENT WITHIN TWO (2) HOURS OF THE CONCLUSION OF THE AUCTION OR BY 10 A.M. OF THE FIRST BUSINESS DAY FOLLOWING THE AUCTION, IF THE AUCTION CONCLUDED ON A NON-BANKING DAY. BY SUBMITTING YOUR BID, YOU EXPRESSLY AGREE THAT THE AUCTIONEER MAY CHARGE YOUR CREDIT CARD USED FOR THE SUBMISSION OF THE BID DEPOSIT IN THE AMOUNT OF THE AUTHORIZATION AND HOLD AND RETAIN SUCH AMOUNT AS LIQUIDATED DAMAGES IF YOU (A.) FAIL TO TIMELY EXECUTE AND RETURN THE EXECUTED CONTRACT FOR SALE; OR (B.) YOU FAIL TO TIMELY TENDER TO AUCTIONEER THE REQUIRED DOWN PAYMENT. YOU AGREE THAT THE DAMAGES TO AUCTIONEER RESULTING FROM SUCH BREACH CANNOT BE REASONABLY ASCERTAINED AND TOO DIFFICULT OR IMPRACTICAL TO CALCULATE. IN ADDITION, YOU AGREE THAT THE RETENTION OF THE BID DEPOSIT IS NOT UNREASONABLE GIVEN THE IMPRACTICALITY OF CALCULATING AUCTIONEERS DAMAGES, AND IS NOT A PENALTY.
THE MATERIALS IN THE WEBSITE ARE PROVIDED “AS-IS” AND WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESS OR IMPLIED, TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW. AUCTIONEER DISCLAIMS ALL WARRANTIES INCLUDING THOSE OF MERCHANTABILITY AND/OR FITNESS FOR A PARTICULAR PURPOSE. AUCTIONEER DOES NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE AUCTIONEER PLATFORM OR MATERIALS WILL BE UNINTERRUPTED, ERROR-FREE, OR ACCURATE, THAT DEFECTS WILL BE CORRECTED, OR THAT THIS WEBSITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. AUCTIONEER DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OF OR THE RESULT OF USE OF THE MATERIAL IN AND ON THIS WEBSITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. YOU (AND NOT AUCTIONEER) ASSUME THE ENTIRE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION. THE ABOVE EXCLUSION MAY NOT APPLY TO YOU, TO THE EXTENT THAT APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES.
BY REGISTERING FOR THE AUCTION, YOU ACKNOWLEDGE HAVING READ, AGREED TO, AND ACCEPTED THESE TERMS & CONDITIONS, AS MAY BE UPDATED FROM TIME TO TIME PRIOR TO THE AUCTION. YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING ONE'S SELF OR ACTING AS AN AGENT. AN ONLINE BID ACCEPTED AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE. ANY BIDDER WHO FAILS TO CONSUMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS. YOU ACKNOWLEDGE THAT ACCEPTANCE BY ELECTRONIC MEANS IS BINDING AND ENFORCEABLE PURSUANT TO THE ELECTRONIC SIGNATURES IN GLOBAL TRANSACTIONS ACT (“UETA”) AND APPLICABLE STATE LAWS.