ABSOLUTE AUCTION! Online Only Bidding!! *Bidding Closes About 9 PM on Sunday, October 29, 2017* 4.74 acres, more or less, Mathews County, Cobbs Creek, Va 23035 Tax Map ID #5-A-34 GENERAL TERMS OVERVIEW: This property is being sold As-Is, Where-Is, with any & all faults, and subject to all laws, ordinances, easements, plats, titles, & any other matters of record. This real estate is being sold “ABSOLUTE” to the highest bidder, regardless of the final bid amount obtained. The auction is being conducted through an online-only bidding process which will begin on Monday, October 9, 2017 at 9:00 A.M. and end on, or about, Sunday, October 29, 2017 at 9:00 P.M. A 10% Buyer’s Premium will be added to the highest final bid and will become a part of the Total Sales Price. A non-refundable deposit of 10% of the high bid amount, or $2,000.00, whichever is higher, in the form of Cashier’s Check or Postal Money Order, is due within 72 hours of the close of the auction. The balance of the total purchase price is due at closing NO LATER THAN Friday, November 10, 2017. The Purchaser shall immediately proceed with closing. Time is of the essence. The Executor/Administrator will transfer the property with clear marketable title, free from any liens. Obtaining financing, if needed, is the sole responsibility of the Purchaser. No owner financing is being offered. The sale is not contingent upon the purchaser obtaining financing or any other matters. By bidding, all bidders hereby waive their rights to any post sale rights of rescission periods & understand the sale is immediately binding & irrevocable. No loan points payments, closing cost assistance, or any other purchase incentive is being offered. While all information regarding this property has been from derived sources deemed reliable and believed correct; neither the Seller, Estate, Auction Firm, or their Representatives make any guarantees or warranties, expressed or implied whatsoever; regarding, without limitation; zoning, ability to subdivide, accessibility, fitness for a particular use or purpose, topography, soil type or content (including percolation rate of the soil for septic purposes), functionality of any systems, availability of public utilities, or merchantability of all or any part of the property. Prospective purchasers and bidders shall rely solely upon information obtained through their own due diligence. Any reliance upon the information provided shall be solely at the bidder’s risk. The Auction Firm shall determine the bid increments and retains the right to modify the deposit requirement. The Purchaser shall waive their rights to any rescission periods &/or any other property inspections and shall accept the property As-Is. These terms, as well as all additional and elaborated Terms below, become an inclusive part of the agreement to purchase contract. Thank you for your interest in this Online-Only Auction of real estate being conducted by “For Sale At Auction”. The auction and conveyance of this property shall be governed by, and your online registration indicates each bidder’s agreement with: the Agreement to Purchase Real Estate at Auction contract, including any/all addenda, disclosures, and the non-negotiable Terms of Sale. In order to bid on this real estate parcel, all bidders must have be registered with For Sale At Auction through our Bid Application (Available at the Apple App Store and Google Play - Just search “For Sale At Auction”). There is no fee to create your account, however a credit card is required to verify identification, and to verify and place a credit hold for the bid deposit required ($2,000.00). By bidding you are representing to the Auction Firm, and the Seller, that you have read, and agree to be bound by, all terms and conditions for this sale as stated herein. DO NOT BID unless you have read and agreed to be bound by these Terms of Sale. THE AUCTION BIDDING APPLICATION: This auction is controlled by the auction program software. The Auction Firm is not responsible for software functionality, internet malfunctions, bidding app or system errors, which could cause a bid to fail to be recognized or fail to successfully register a bidder. In the event of any bidding platform errors &/or related disputes, the Auction Firm may re-open the bidding &/or extend the auction closing date/time at the Auction Firm’s sole discretion. The Auction Firm reserves the right to withdraw the property from the sale at any time prior to the acceptance of any bids. Absentee or Sealed Bids may be accepted at the discretion of the Auction Firm. Any and all decisions of the Auction Firm regarding the conduct of the auction shall be final and absolute without liability to any party. THE AUCTION PROCESS: Bidding starts at $1 or at the maximum sealed bid obtained prior to the auction start date/time, if any, and is open to the general public (any who are registered and approved by the Auction Firm). The Auction Firm will control all bidding increments. Bidding will begin on, or about, Monday, October 9, 2017 at 9:00 A.M. and end on, or about, Sunday, October 29, 2017 at 9:00 P.M. The auction ends at this 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 declared the final high bid and will be made final and binding. LIQUIDATED DAMAGES FOR NON-PERFORMANCE: If the high bidder breaches any portion of these auction Terms of Sale, or the Agreement to Purchase Contract, and/or fails to return all executed copies of all required documents &/or the required down payment, the bidder’s high bid offer shall be rejected by the Seller. In addition, all of the bidders rights to purchase the property shall terminate with the seller having the right to sell the property to another without limitation. In addition, the high bidder shall pay the Auction Firm liquidated damages in an amount equal to the bid deposit/credit hold held on the bidder’s credit card at the time of registration. The bidder hereby authorizes the Auction Firm to charge the credit card used to register for the auction, in the amount of the hold, to satisfy any part of the liquidated damages owed the Auction Firm by the high bidder. BUYER’S PREMIUM, DOWN PAYMENT & CLOSING: A Buyer’s Premium of 10% of the high bid amount will be added to the final bid to determine the total sales price (For example: If the high bidder bids the amount of $100,000.00, a 10% Buyer’s Premium will be added to the high bid for a total sales price of $110,000.00. Please consider this when placing all bids. The Buyer’s Premium is non-negotiable). The high bidder must make a non-refundable deposit of 10% of the high bid amount, or $2,000.00, whichever is greater, in the form of Cashier’s Check or Postal Money Order, within 72 hours of the close of the auction. If the deposit amount exceeds the Total Purchase Price reflected on the sale agreement, the down payment will be modified to an amount equal to the Total Purchase Price. 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. The balance of the purchase price, along with all Purchaser closing costs, are due at closing NO LATER THAN Friday, November 10, 2017. The Buyer is responsible for all closing costs customarily charged to a Purchaser upon closing a real estate transaction in the Commonwealth of Virginia. Real Estate Taxes shall be pro-rated as of date of final settlement. CONTRACT/DOCUMENT PROCESS: Within twenty-four (24) hours following the close of the auction, the Auction Firm shall contact the high bidder by email, telephone, or fax to provide all required sale documents for Purchaser’s execution. All purchase documents will be provided to the high bidder and the high bidder will be required to sign and return all purchase documents, along with the required deposit, to the Auction Firm via OVERNIGHT delivery within forty-eight (48) hours following their receipt by the Purchaser. Failure to return these items in the time-frame allotted shall result in the forfeiture of the high bidder’s bid deposit as liquidated damages pursuant to these Terms of Sale. The Contract for Sale and Terms of Sale are not subject to negotiation. CONTRACTUAL DEFAULT/NON-PERFORMANCE: If the high bidder executes and returns the required sale documents and down payment, but fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), the high bidder shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property whatsoever, and will forfeit all down payment monies as liquidated damages. BE ADVISED… state law gives the Seller &/or Auction Firm the right to pursue legal action against bidders/Purchaser’s who refuse to complete their contractual obligations. This may include, but is not limited to, suit to compel completion of the sale and/or criminal charges of fraud or other intentional act, as well as any other remedies available in law or in equity. In addition, if the high bidder fails to fulfill their contractual obligations, they will be banned from bidding at all future auctions conducted by the Auction Firm. AS IS - WHERE IS SALE: All properties are sold "AS IS, WHERE IS" with no financing, inspection, or other contingencies to the sale. The sale is immediately binding and irrevocable. Bidders must conduct their own due diligence and investigation of the property to determine suitability prior to placing any bids. Bidders must rely solely upon their own investigation and not on information provided by the Seller &/or Auction Firm. Failure of a bidder to be fully informed on this property will not constitute grounds for claims or to cancel the sale. All information provided regarding this property was obtained from official public records, county officials, &/or other sources deemed reliable and believed correct, but is not guaranteed whatsoever. The Auction Firm and Seller DO NOT warrant the accuracy of any information provided. Please, do not bid if you have not inspected the property or done your Due Diligence! *NOTICE* By Bidding, you are entering into a legally binding contract. An online, public auction bid, is legal and binding. There will be no refunds or bid cancellations. The registered bidder is personally, financially, and legally responsible for their bids and actions, whether representing themselves, or acting as an Agent for another.