TERMS
& CONDITIONS
BUYER’S
PREMIUM
ALL BIDS ARE SUBJECT TO A 10% BUYER’S
PREMIUM
The Buyer’s Premium, expressed as a percentage of the winning
bid, is an additional cost to the Purchaser and is payable by the
Purchaser as part of the total purchase price. It is the fee the
seller charges the bidder to bring the Property to UNRESERVED
Auction.
UNRESERVED
AUCTION
The property shall be sold to the highest bidder regardless of price.
The sale shall not be subject to any minimum bid or reserve price.
PURCHASE
CONTRACT
Immediately following the close of the Auction the highest Bidder
on each Property shall execute a PURCHASE CONTRACT
for the UNCONDITIONAL PURCHASE of each Property
for a Purchase Price equal to the highest bid plus 10%.
FINANCIAL
TERMS
Upon completion of the PURCHASE CONTRACT the Purchaser
shall submit a NON-REFUNDABLE Deposit in the amount
of 15% of the Total Purchase Price to be paid to the Trust Account
of ReMax House of Real Estate.The balance of the Purchase Price
shall be paid to the solicitors for the seller on or before May
15, 2007.
COMPLETION
DAY
The closing, possession and adjustment day shall be May 15, 2007
GOODS
& SERVICE TAX
The Purchase Price does not include GST. In the event that the GST
is payable and the Buyer is not a GST registrant, then the Buyer
shall remit the applicable GST to the Sellers Lawyer on or before
Completion Day.
SALE
PROCEDURE
Bidding will be conducted in total Dollars per Parcel.
At the conclusion of the bidding and the highest price is established
the successful bidder will have the option of taking Parcel 1 or
Parcel 2 or BOTH PARCELS at twice the dollars.
If only one Parcel is selected the remaining Parcel will be Auctioned
to the highest bidder.
This
sale information has been prepared as a guide to potential buyers,
however, anyone bidding at the sale does so on his or her own knowledge
and personal inspection of the property.
Any announcements made by The Auction Company Ltd. regarding terms
and conditions prior to or during the sale shall be final.
House
of Real Estate
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| Realtor®
Participation Invited |
Associate Broker
403-585-4551 |
| Auction
Sale Conducted by |
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