All information and dimensions were derived from sources believed to be correct, but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the real and personal property to their satisfaction and bid accordingly. All auction day announcements take precedence over any previously printed material or any other oral statements made. Gates Realty And Auction, LLC and Seller are not responsible for grammatical errors or omissions, buyer to verify all information and bring any comments, questions or concerns to the auctioneer in writing for clarification or updating prior to bidding. Auctioneer and seller reserve the right to add to or delete from list of items offered and/or amend any and all real estate terms at any time with notice. Real Estate Terms and Conditions 10% Buyers Premium applied to final bid price to constitute the final sales price.  A $10,000 non-refundable deposit of final sales price, balance due in US Dollars from a United States chartered bank, preferably a North Carolina based bank within 45 days or at closing by Cash, certified funds, personal or company checks with prior approval or wire transfer with a closing attorney or escrow agent of buyer's choosing. Credit cards may beare not accepted for earnest money deposits.  Gates Realty And Auction, LLC is an agent of the seller in this transaction. Real Estate Open House / Inspection February 18th & 25th from 2-5pm or by calling auctioneer.  If you are represented by a Realtor, your Realtor may schedule a tour through the MLS / Showingtime. Online Real Estate Auction Terms and Conditions A letter of credit, pre-approval, sufficient funds letter from buyers financial institution confirming that the buyers has sufficient cash equivalent funds to bid on and execute a contract to purchase real property is required along with a $500 credit card registration capture for bidder verification purposes.  A $10,000 non-refundable earnest money deposit will be required from the successful purchaser. At the close of the online auction, and seller confirmation, the successful bidder will be emailed or given the contract package to execute and return to Gates Realty And Auction, LLC. Upon being declared the high and successful buyer, the credit card that you registered with will be charged $500 toward your deposit. The successful bidder’s remaining earnest money deposit ($9,500) must be in the form of cashier’s or certified check (United States Bank) or wire transfer payable to Gates Realty And Auction, LLC and is due immediately upon notification of a confirmed sale to the buyer/s. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees. You will be asked to show proof of funds for the deposit (via text or email) prior to being approved to bid.  On-site Real Estate Terms and Conditions A letter of credit, pre-approval, sufficient funds letter from buyers financial institution confirming that the buyers has sufficient cash equivalent funds to bid on and execute a contract to purchase real property.  A $10,000 non-refundable earnest money deposit will be required from the successful on-site purchaser upon being declared the winning at the close of the auction and seller confirmation, The entirety of the remaining balance is due at closing.  Bidding starts at the advertised opening bid indicated and is open to the public. The Auctioneer will call the sale on-site and control any increments of bidding. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders as specified in 21 NCAC 4B. Any mistakes during bidding as to who has the bid and /or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduction of the auction and shall be the final and absolute authority without liability to any party.  Contracts Contract Packages will be sent by e-mail to the online high bidder or signed on-site for attending buyers who must execute all documents and disclosures.  Successful online buyer/bidder will execute a completed contract package and return to  Gates Realty And Auction, LLC within 24 hours of receipt by email, scan, overnight or hand deliver the completed contract package plus the required deposit. If the successful bidder does not execute and return their contract with earnest money deposit within 24 hours of receipt they will be considered in default and subject to legal action. This is a legal binding contract.  Closing Time being of the essence, these sales shall be closed on or before 45 days from auction date. The purchaser will pay for all of their closing costs associated with the transaction and may choose a North Carolina closing attorney. The bidder may use a lender, but it is recommended that you secure financing prior to bidding where as there are no contingencies for financing, appraisal, inspection, surveys whatsoever. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.  Property Condition All properties are sold AS IS, WHERE IS with all faults if any, with no financing, inspection, or other contingencies to buy. Gates Realty And Auction, LLC represents the Sellers only and does not inspect properties on bidders behalf. It is the Buyer's responsibility to conduct any inspections prior to the auction. Buyer or Buyer's Agent is responsible for verifying all lot measurements, heated living area measurements, utilities, and all home systems, i.e., heating, cooling, plumbing and electrical. The listing agent and/or auctioneer make no guarantees of any kind. The inspection period is conducted prior to any on-site or online bidding and buyer/s agree to accepting the property in it's present condition once a bid is placed and at time of closing. It is possible that the property being sold is subject to restrictive covenants and homeowners association rules, regulations, and dues. Do not bid if you have not inspected the property(s). Gates Realty And Auction, LLC makes no representation or warranties expressed or implied concerning any properties. Descriptions of the property are believed to be correct but are not guaranteed. No sale shall be invalidated by the buyer because of not conducting their own inspection prior to placing a bid. When the Buyer registers and places their bid, they acknowledge they have personally inspected the property or hired an agent or someone qualified to inspect the property on their behalf, or waived the right to inspect the property.  If for any reason Seller does not perform or accept the terms of the Contract, the sole remedy shall be the return of Buyer's deposit. Agency Disclosure In all transactions and communications, the auctioneer is acting as agent for the seller, not as buyer’s agent. Gates Realty And Auction, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid. Gates Realty And Auction, LLC and Seller/Executor/Estate Representative expressly disclaim any liability for errors, omissions or changes regarding any information provided for this sale up to the date and time of closing/recordation. Any communications to the buyer/s agent via verbal, written, phone, text, email, fax or any other forms of communication is considered to be the same as communicated to the buyer/s, bidder/s. Failure to Execute Contract At the discretion of the Auctioneer, a penalty of up to two thousand five hundred dollars ($2,500.00) will be charged to the credit card provided at registration if you are determined to be the high bidder and fail to return the signed Contract of Sale and pay the required earnest money deposit within the required time. Payment of the penalty shall not affect other remedies available to the seller for such failure. In addition, bidder will be black flagged as a nonpaying bidder and will not be able to bid in future auctions and the seller will have the right to exercise  all legal remedies for such breach of contract.  Realtor Representation & Compensation Real estate agent must submit a fully executed NC Buyer Agency Agreement form within 48 hours of auction for representing bidders. Real estate agent must submit a fully executed NC Buyer Agency Agreement form prior to their client registering and assist online bidders and attend auction with onsite bidders. If the buyer registers and/or bids prior to Auctioneer receiving the NC Buyer Agency Agreement, then Auctioneer deems the bidder as an un-represented buyer and will not be obligated to compensate said Realtor.  Realtor will be compensated as per the Canopy MLS listing cooperation and compensation listing as long as the Buyer Agency compensation requirements are met.   Personal Property Terms Payment: Cash, Visa, Mastercard, Personal checks only accepted if personally known to seller or auctioneer. Buyer Premium:13%(Credit Card) OR 10% (Cash). Applicable NC sales tax will be charged unless a Tax ID#/Certificate Form E-595E is provided at registration. Titled assets will not be released until payment is processed and deposited into the bank. Technology  Gates Realty And Auction, LLC is not responsible for malfunctions or system errors which cause a bid or a bidder to fail to be recognized or registered.  Neither the company providing the software nor the auction company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.  In the unfortunate event of a DDOS attack or server attack/shut down, the auction company reserves the right, but is not required, to extend bidding time.  To minimize the chance of being affected by internet or software issues, please use the “Max Bid” feature.