Real Estate Broker Participation Any broker actively licensed in the Commonwealth of Virginia whose agent properly registers the successful high bidder will be paid a two percent (2%) commission at settlement by the Seller. Registration must be on a Woltz & Associates, Inc. Broker Participation Application form and contain the name, address and signature of agent and prospect as well as a Broker’s license number and Federal Tax ID number. The form must be received in the office of Woltz & Associates, Inc. by 12:00 noon on September 13, 2018. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent. Real Estate Terms and Conditions of Auction 1. REGISTRATION: Bids will be accepted only from registered bidders. Registration begins at 1:00 PM. Please bring a driver’s license for identification. 2. AUCTION SALE: The real estate in this auction will be sold subject to seller confirmation. ALL SALES ARE FINAL: All property is auctioned “AS IS, WHERE IS” with all faults in its condition at the time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation with respect to the property as they deem necessary or appropriate. 3. FINANCING: Your bidding and purchase of the property is NOT CONDITIONAL UPON FINANCING. Be sure you have arranged financing, if needed, and are capable of paying cash at closing. 4. LIABILITY: Bidders inspecting property enter at their own risk. Auction Company assumes no risk for bodily injury or damage to personal property. 5. BIDDING: The auctioneer will determine all bid increments. All decisions by the auctioneer regarding bid acceptance are final. 6. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning this auction sale. 7. BUYER’S PREMIUM: The Buyer’s Premium on the real estate is seven percent (7%) of the high bid amount. The Buyer’s Premium will be added to the high bid to determine the sales price. 8. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER. 9. LEAD PAINT: The home in this auction was built prior to 1978 and may contain lead-based paint. A lead-based paint inspection may be performed by bidders prior to the auction sale date. Applicable lead paint disclosures and information are available from Auction Company. Bidders will be provided a lead-based paint disclosure prior to signing a real estate purchase agreement and agree to waive the ten (10) day right to inspection after the auction sale. 10. REAL ESTATE DEPOSIT: A deposit in the amount of ten percent (10%) of the contract sales price will be required on day of sale. The deposit is payable by cash, cashier’s check, or pre-approved personal check payable to Woltz & Associates, Inc. Escrow Account. Personal checks will be approved if the Buyer presents a bank letter stating that the Buyer is a customer of the bank and the checking account is in good standing. 11. REAL ESTATE DEED: The real estate will be conveyed by general warranty deed free and clear of liens, subject, however, to any rights of way, easements and restrictions of record. The balance of the purchase price is due at settlement on or before November 1, 2018. 12. BOUNDARY LINES: Boundaries on aerial photos and topo maps are approximate. 13. GENERAL: The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, error, or omissions is assumed by the Seller or the Auction Company. 7% Buyer’s Premium on Real Estate