SUMMARY OF TERMS & CONDITIONS 1. The property sells with a disclosed reserve of $60,000 (minimum bid). 2. See the Acknowledgement of Terms & Conditions Document. Must be signed before bidding – No Contingencies. 3. The real estate sells in AS IS condition. The Seller is not making any repairs or giving any concessions. 4. The sale is not contingent upon a satisfactory inspection. 5. The sale is not contingent upon the Bidder(s) ability to secure financing. The buyer assumes responsibility for the appraisal gap, if any. 6. The successful bidder will sign and return within 24 hours the purchase contract and other applicable documents electronically following the close of the auction. 7. The successful bidder/buyer will deposit $2,500 (earnest money) by electronic transfer. 8. Buyer to proceed to close within (30) days of the auction. 9. Seller will provide and pay for owner’s title insurance, preparation of deed, conveyance fee, and the proration of real estate taxes. 10. There is a 10% (TEN) Buyer’s Premium added to the final offer to determine the final purchase price. Please see the Frequently Asked Questions and Advantages of Competitive Offers for more details