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Auction Terms & Conditions
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1. REGISTRATION: All prospective buyers MUST
register in order to bid at the auction. Each bidder shall be
required to possess a certified check drawn payable to
themselves in the amount of $5,000.00.
2. PURCHASE AGREEMENT: The successful buyer
shall sign a Vessel Purchase Contract and Receipt and endorse
the certified check to Michael Vaughn’s Trust Account. This
amount plus the difference, up to 20% of the total contract
price, is payable by personal/company check and credited toward
the total contract price. If for any reason the buyer(s) are
unable to complete the transaction, the earnest Money will be
forfeited. Final settlement shall be on or before November 25th,
2005.
3. INSPECTION: Previewing and inspection
is essential. The vessel is being sold “AS IS – WHERE IS”.
4. SELLER’S & AUCTIONEER’S DISCLAIMER: All announcements
made by the auctioneer shall take precedence over any previously
written material or oral statements made by auctioneer. Conduct
of the auction, increments of the bidding, duration of the
auction and decisions as to the high bidder will be at the sole
discretion of the auctioneer. ALL information is subject to the
inspection and verification by all parties relying on it. NO
GUARANTEE, WARRANTY OR REPRESENTATION, EXPRESSED OR IMPLIED IS
GIVEN ON THE INFORMATION CONTAINED IN THE BROCHURE OR DUE
DILIGENCE INFORMATION. The Seller and their agents expressly
disclaim any and all liabilities, which may be based on such
information, errors therein or omissions therefrom. ONLY such
representation and warranties as may be set forth in a
definitive Vessel Purchase Contract between Seller and Buyer
shall have any legal effect. Seller reserves the right of prior
disposal of the vessel.
5. BUYER PREMIUM: Ten 10% will be
added to the successful high bid. The Buyer Premium (Fee) is
refundable if SELLER cannot deliver clear and marketable title
to the vessel, at close of escrow, through no fault of the
Buyer.
6. ABSENTEE BIDS: Individuals unable to attend the
auction may complete an Absentee Bid Form, authorizing the
auctioneer to bid on their behalf, up to a specific Amount. Or
register and bid on the Internet:
Auction Services.
7. BROKER PARTICIPATION: Boat Brokers are encouraged to
participate in the Auction process and register their respective
clients. Contract the Auctioneer for Registration Forms. NO oral
registrations will be accepted!
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