Bankruptcy - Merchandise Online Only
PLEASE DO NOT BID UNTIL YOU HAVE READ THESE TERMS AND CONDITIONS OF SALE.
Lots may be sold individually (lots 1 - 18)
as one whole (lot 19)
at the discretion of the Trustee.
CATALOG: The catalog is provided as a convenience and each item of merchandise or personal property is often referred to as a "lot". A “lot or lot number” may have several pieces included or may be only one item. Please inspect each lot of personal property and merchandise prior to bidding. Descriptions are believed to be correct but are not guaranteed to be. The catalog inventory list was provided by the owners to the auction firm and it is not guaranteed to be exact or correct. Please inspect the inventory before bidding.
AS IS - Everything sells "AS IS" with no warranties given or implied. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, quality, condition, age, color, or usefulness of lots sold in the auction. Everything sells with all faults, conditions, damage, defects, and flaws. The buyer will take the assets, personal property, items, lots or merchandise in the condition existing. No refunds/returns regardless of condition.
REMOVAL FROM PREMISES -Removal will be by scheduled appointments July 26-August 15. If you do not remove purchases at the stated times you will forfeit your purchases back to the seller. YOU MUST HAVE YOUR LOTS CHECKED BY AUCTION STAFF WITH YOUR PAID RECEIPT prior to removing from the site.
Buyer is responsible for all removal. Buyer is responsible for bringing boxes, tape, hand trucks, pallet jacks, and personnel. Buyer is required to work with auction firm to remove on specified dates identified in the auction terms and the auction catalog. Buyers acknowledge and understand that loading is not provided by the sellers, by the Trustee, nor by the Auction Firm. Buyers acknowledge that there is not a fork lift on site nor is there room for a fork lift. Road tractors and trailers are too large to get to site and box trucks and vans are recommended for removal at the costs and responsibility of the buyers.
HIGH BIDDER - The auctioneer has the sole discretion to determine the highest bidder for any and all lots. At the fall of the hammer or other customary method of declaring lots sold the ownership transfers to the buyer.
STARTING BIDS –RESERVE BIDS - The auctioneer reserves the right to start the bids on all lots. The auctioneer reserves the right to bid to the reserve amount, if any, on behalf of the seller.
ALL SALES FINAL - No claims can be made after the auction and no refunds will be given regardless of condition of items.
PAYMENT - Terms of Payment are credit card, cashier's check, or wire transfer. If a buyer fails to pay in full for their purchases, the account will be turned over to a collections agency.
POSSESSION - The auction company may HOLD LOTS NOT PAID FOR IN FULL OR NOT PAID WITH FUNDS AS STATED ABOVE. Bidders that comply with the terms of payment may remove their lots the day of auction unless otherwise stated or announced by the auction firm.
ABSOLUTE / RESERVE AUCTION - All lots or merchandise will be sold subject to bankruptcy trustee approval.
BUYER'S PREMIUM - A Buyers Premium of 10% is added to the last and highest bid to determine the purchase price.
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically raise to your maximum bid as others bid up the lot over time.
Uniform Commercial Code:
Section 2-328 of the UCC provides federal law regarding a sale by auction. The code reads that a sale by auction is complete when the auctioneer so announces by the fall of hammer or in other customary manner. A bid is a legal binding contract between the bidder and auctioneer. Reopening a bid is at the sole discretion of the auctioneer. Failure to complete a payment in good faith, stopping payment on checks or refusing to pay for goods purchased at the auction may result in legal action against the buyer and may result in the collection being turned over to a collection agency.
“Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.”
DISPUTED BIDS AND INCREMENTS: In case of a dispute over who is the high bidder, the auctioneer has the sole discretion to determine the high bidder. The auctioneer has the sole discretion to determine the live auction bidding increments.
Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer will require the removal of any person from the auction site for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding or stealing; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction site immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.
DEFAULT BY HIGH BIDDER/BUYER: In the event of a default by the bidder/buyer the seller may resale the property to another bidder/buyer and in the event the property sells for less money than the original price the seller may seek the difference from the original bidder/buyer. The seller may have other rights to pursue damages or costs from the defaulted bidder/buyer as allowed by law.
ONLINE BIDDING: You must register in advance by clicking on Register to Bid and agreeing to terms for online bidding including submitting a credit card. You must be pre-approved before you receive a bidder number. The auction company may refuse to register anyone at its sole discretion.
TECHNICAL PROBLEMS: The auction company provides online bidding as a convenience for those that cannot attend the live auction. The auction company will not be liable for any faulty equipment, failure of equipment, faulty software, failure of software, lack of internet service connections or signals, or failure for any online bids that are not relayed on time to the auction company. The auction company reserves the right to extend bidding, delay bidding, continue with live bidding, or cancel bidding, without any notice to online bidders.
DEFAULT OR DELAY: If the buyer delays closing for any reason the buyer may be declared in breach of contract and will forfeit all deposits made. The buyer may be responsible for all cost to the seller or the auction company for subsequent resale.
The auction company reserves the right to reclaim and resale any assets not paid for by the online buyer. Should the resale price be lower than the defaulted buyer's price, Seller and/or Auction Company reserves the right to seek the difference from the initial online buyer. All fees for collection, court fees, or attorney fees will be the responsibility of the original buyer that caused the default. All sales are final. No refunds are given.
AUCTION END TIMES: The online bidding is a timed event. Auction Company reserves the right to extend the auction in 5 minute segments for any and all bids received in the last 5 minute of the auction.
DISPUTES: Any disputes that arise between the auction company, the seller, the seller's agents and the buyer will be dealt with by arbitration in Forsyth County, North Carolina.
DISCLAIMER: The auction company provides data, catalogs, advertising, maps, that are believed to be correct but it is not guaranteed. Bidders should rely on their own inspections and due diligence prior to bidding. Everything sells strictly AS IS. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color, or value of the merchandise or real property sold online. Buyer agrees that buyer may not cancel purchase for any reason.
The bidder agrees to all terms and conditions of the auction and should read the detailed terms.
LICENSES: NC Firm #685, VA Firm #2, SC Firm # 1874