Important - Read these Terms: Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you. The Swicegood Group Inc. representing the Estate of Josephine C. Gregory, deceased is offering at public online auction approximately 15.24+/- acres per Davie County GIS and tax records and Selling Subject to Seller’s Confirmation in which the final high bid will be confirmed, rejected or countered by Seller at auction’s close. Agency: The Swicegood Group, Inc. is acting as an agent of the Seller and at no time acting on behalf of the Buyer. Buyer's Premium: There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. Example, a high bid of $100,000 is a final contract price of $110,000. Identity Verification: In order to verify a Bidder’s identity/age and that there is a minimum open line of credit, we require the use of a valid credit card for registration. Bidding privileges will be given based on an acceptable authorization hold on the credit card used to register of at least $2500. *THIS IS NOT A TRANSACTION* This HOLD will be removed by your bank based on your bank’s policy (usually 24/48 hours). Bidding rights are provisional, and if complete verification is not possible, The Swicegood Group, Inc. will reject the registration, and bidding activity will be terminated. The Seller and The Swicegood Group, Inc. reserve the right to refuse service to any person whom they believe to be fraudulent. Closing Attorney: The winning Bidder will be required to sign a sales contract and deliver a $10,000 earnest money deposit to the escrow agent as identified in the auction sales contract within 24 hours of Seller’s notice of acceptance, with time being of the essence. Auction Ending: Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final minutes of the auction will automatically extend the auction. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:59, the close time will automatically extend 3 to 5 minutes. The auto-extend feature will continue until there is a predetermined silent period without a new bid being placed on any item in the auction. In the event that the auto-extend time needs to be changed, The Swicegood Group, Inc. may do so at their sole discretion and at any time during the auction until the close of bidding. Outbid / Back-In Notification: During this auction process, there is a chance that you will be outbid. If you have the bidding app, you will receive a popup notification, otherwise, you will receive an email. It is the responsibility of the Bidder to realize and maintain their desired bidding position. Property Information & Inspection:The Swicegood Group, Inc. is not responsible for any missing or incorrect listing information. The Swicegood Group, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by The Swicegood Group, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional closing costs that apply in transacting real property. Auctioneer's Discretion: The Swicegood Group, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of The Swicegood Group, Inc. or the Seller. Auctioneer does not preclude the right of any employee, stockholder, or subcontractor the right to bid on any auction. Auctioneer reserves the right to bid on behalf of the Seller unless the sale is an absolute auction. Server, Software, Technical Issues: In the event, there are technical difficulties related to the server, software or any other online auction-related technologies, The Swicegood Group, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor The Swicegood Group, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. The Swicegood Group, Inc. may send email notifications to registered Bidders with updated information as deemed necessary. Payment Terms: A deposit of $10,000 is required as earnest money in the form of a certified check or wire transfer. The earnest money deposit is due within 24-hours of contract execution with time being of the essence. In the event the Seller cannot produce a deed with an insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online-only auction is not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder at registration and specified in the Auction Purchase Contract. Financing is welcome, but the contract is not contingent upon such. Auction Purchase Contract: The contract is required to be fully and correctly executed with no modifications within 24 hours of Buyer’s receipt of Seller’s confirmation with time being of the essence. Closing: Property is to be closed within thirty-days (30) to no more than forty-five (45) after the auction or upon delivery of the deed, whichever is sooner. Closing Costs: Buyer’s closing costs may include a new boundary survey, title search fees, title insurance premiums, recording fees, prorated items, and any other fees required for closing real propery. Property Condition: All property in this auction is selling “AS-IS, WHERE IS” with all faults if any. The Swicegood Group, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct but are not guaranteed. It is the Buyer’s responsibility to conduct any inspections and/or to perform any due diligence Buyer deems necessary. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations, and dues. The Swicegood Group, Inc. has attempted to find or locate all information deemed as material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own due diligence prior to placing a bid. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Legal Interpretations: The laws of the State of North Carolina shall interpret this document. Disputes: Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Davie County, North Carolina as the sole and exclusive venue for North Carolina properties. Auction Bidder and/or Buyer Default: The successful Bidder and/or Buyer not in compliance with these terms upon the close of the auction or notice of Seller’s confirmation will be considered in default and will be black-flagged in our database as a Non-Paying Bidder with bidding privileges being suspended. The Swicegood Group, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with these terms. By bidding on the property, the Buyer agrees to all terms and conditions set forth here. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you a Non-Paying Bidder, The Swicegood Group, Inc. has the right to charge your credit card a penalty fee of $2,500. Further, the Seller retains all legal rights to pursue any damages which may have resulted in Buyer’s nonperformance. Auction Cancellation – Bid Rejection: The Swicegood Group, Inc. reserves the right to reject any and all bids for any reason. The Swicegood Group, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed unless the auction is advertised Without Reserve. Confirmation: All bids are Subject to Seller Confirmation unless the auction is advertised “Without Reserve." Deed: As specified in the Auction Purchase Contract. Possession: Possession delivered at closing. Real Estate Taxes and Closing Cost: Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The Buyer will pay all other closing costs associated with the transaction of real property. Easements & Zoning: Subject to any and all easements recorded or unrecorded. Acreage & Aerial Photos: Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and are not surveyed boundary lines. Bidder Responsibilities: Bidder responsibilities include but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in the termination of website use privileges. The Swicegood Group, Inc. gathers aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence. Bidder agrees that email addresses provided for correspondence during the auction and possibly future auction announcements. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment. Age Requirement: All Bidders must be eighteen (18) years of age or older.