Conditions for Buyers
1.) The Buyer:
The buyer shall be highest bidder acceptable to the auctioneer, whose bid is at the hammer price. Any dispute arising in relation to same shall be settled at the auctioneer's sole discretion. Bidders will be assumed to acting as principal in the transaction unless specific instructions are provided detailing otherwise. As such, all bidders are liable in a personal capacity for the total amount due, irrespective of agency agreements. Mealy's contract as agents for sellers whose identity, for reasons of confidentiality, is generally not disclosed. Accordingly, buyers are reminded that the primary contract is between the buyer and the seller, with Mealy's acting as agent for the seller.
2.) Inspection:
Ample opportunity is given for inspection. Each purchaser, by making a bid for a lot, acknowledges that he or she is fully satisfied before bidding, by physical inspection or otherwise, as to the description, condition, and other information relating to the lot. Despite all efforts being made to ensure accurate descriptions and estimates, lots purchased are assumed to have been viewed and inspected. As such, all lots are sold with all faults and errors of description, at the buyers risk. The Auctioneers are not responsible for the correct description, genuineness, authenticity or any default or defect in any lot, and make no warranty in this respect. Estimates reflect a range of values, the lower of which usually represents the reserve price. Buyers are reminded that estimates are merely the opinion of the auctioneer, are subject to change and are in no sense definitive.
3.) Payment:
All lots purchased are subject to a 20% + VAT buyer's premium (VAT is 23%, final premium is 24.6%). By bidding, all prospective purchasers agree in advance to pay this premium on the hammer price. Buyers attending the auction are encouraged to pay for lots purchased on the day of sale. Unless otherwise agreed in writing prior to the auction, the buyer of a lot shall pay to the auctioneer within five working days the total amount due. Notwithstanding this, the auctioneer may at its sole discretion, require a buyer to pay a deposit of up to 25% of the total amount due at the conclusion of the auction. The auctioneer may apply any payments received by a buyer towards any sums owing from that buyer to the auctioneer on any account, regardless of directions given by the buyer in that regard, whether express or implied. Payment methods include cash, Euro bank draft, cheque drawn on the buyer's Irish bank account, EFT (subject to applicable bank charges), debit card and credit card (subject to 3% surcharge for Mastercard & Visa and 5% surcharge for American Express). Under no circumstances can the Auctioneers accept third party cheques either in full or part payment of any lot. Non-payment by a buyer may result in any of the following actions:
- proceedings against the buyer for damages for breach of contract.
- recission of sale.
- resale of the lot(s) without notice, after which the buyer shall be responsible for any resulting deficiency in the total amount due.
- removal, storage and insurance of the lot(s) at the buyer's expense.
- interest may be charged, commencing after five working days from the sale date, on the outstanding debt at a rate 1% above the Bank of Ireland base interest rate on the day of purchase.
- retention of lot(s) purchased at Mealy's until the outstanding balance is settled in full
- rejection of all future requests for bidding by the buyer or his/her agent.
- application of proceeds of sale of items consigned to Mealy's by the buyer in settlement of outstanding balances.
4.) Reservation of Title & Risk:
Title in an item or items purchased will not pass to the buyer until Mealy's have received payment in full, notwithstanding possession. However, each lot remains the sole risk of the purchaser from the fall of the hammer.
5.) Collection, Removal & Dispatch of Goods:
Collection & removal of items purchased is at the buyer's risk and expense from the fall of the hammer and is available from our offices for five working days after the sale. No purchase shall be claimed or removed until the sale has been concluded, i.e. purchasers cannot collect items while an auction is in progress. Collection can only take place during normal regular hours. Mealy's shall not be responsible for lost, stolen, damaged or destroyed lots, if not collected within the allotted time frame. All lots not removed are subject to the minimum warehousing charges outlined below. Lots not removed within thirty days of the sale may be re-sold by auction or private sale without notice to the buyer. Any liability which there may be on the part of the Auctioneer, in respect of any loss, shall be restricted to a maximum of the price paid by the purchaser of the lot. Storage and warehousing charges: Please note that there will be no charge to purchasers who collect their lots within five working days of the sale. After five working days has passed, a transfer and administration charge of €20.00 per lot will be payable and a storage charge of €2.00 per lot per day will then come into effect. These charges are payable by the purchaser to Mealy's and are subject to VAT. House Clearance & Specialised Sales: the charges outlined above relate to our regular gallery sales. House Clearance sales and other specialised sales are subject to higher removal and storage charges that will be notified to buyers where relevant. Buyers should confirm the storage and warehousing charges for such sales in advance of bidding. If any buyer fails to comply with any of the above conditions, the damage recoverable from the defaulter shall include all loss arising from any re-sale of the lot, together with the warehousing charges and expenses in respect of both sales, and any money deposited in part payment shall be held by the auctioneer against the defaulters liability and may be appropriated in settlement of the liability.NB. Mealy's do not offer packing or dispatch services. We strongly recommend that all bidders consult a professional shipping company. A list of approved service providers is available on request.
6.) Forgeries
If within 30 days after the Sale of any item, the Auctioneer receives a notice in writing from the Buyers by Registered Post that such an item is a deliberate forgery, together with the necessary evidence to satisfy the Auctioneers of such an allegation, then the Sale of that item will be rescinded and the net Purchase monies refunded (less any outlays incurred by the Auctioneers) to the Purchaser.
7.) Condition of Lots
All lots at auction are sold 'as is'. Mealy's act as agents for the seller and as such, are dependent on information provided by the seller. Whilst efforts are made to inspect lots and act reasonably in taking a general view about them, we are unable, in the normal course of business, to carry out detailed examinations of lots to ascertain condition. In addition, Mealy's are not restorers, conservation experts or related professionals. Buyers are provided with ample time to examine lots and ascertain condition, and by bidding, accept the duty and responsibility for inspecting, examining and investigating lots that they intend to bid on. Imperfections, defects and other condition issues are not stated in the catalogue description. Mechanical objects of any age are not guaranteed to be in working order.
8.) Condition Reports
Condition reports may be requested by buyers in advance of the sale and our employees may be able to assist buyers by providing such reports. However, these are provided for guidance online, without legal obligation or prejudice to standard terms and conditions of sale. Such reports are merely the gratuitous opinion of Mealy's employees or operatives. Neither Mealy's, nor the seller, accept any responsibility for the condition of lots or for the content of condition reports. Subsequent disputes arising in relation to condition and/or the content of such condition reports will not be entertained.
9.) Absentee Bidding
Absentee bidding is available to prospective purchasers in the form of commission bidding & telephone bidding. However, registration for absentee bidding must be completed by 5pm on the day preceding the sale. Mealy's accept no liability for acts or omissions relating to bids received after this deadline. From time to time, Mealy's will entertain absentee bidding requests received after the deadline has passed, but this is at the discretion of our employees and Mealy's accept no responsibility for accuracy in the execution of such bid requests received after the deadline. All items purchased by absentee bidders are sold as is, and are assumed to have been viewed and inspected by the purchaser. In the case of commission bids, these will be executed by Mealy's as cheaply as possibly, having regard to the reserve (if any) and competing bids. If two bidders submit identical commission bids, the auctioneer has sole discretion to determine the successful buyer, but will generally opt for the first commission bid received. Telephone bidders are reminded that telephone lines are inherently subject to technical issues. It is strongly advised that telephone bidders leave a 'cover bid', e.g. a commission bid with their maximum bid price, to account for situations in which technical issues result in telephone bidding problems. Once an absentee bid is received, a contractual agreement is in place and the bid cannot be revoked without express agreement in writing signed by the auctioneer.
10.) Online Bidding
Mealy's offers online bidding services to those who cannot attend the sale. Bidding registration for online bidding must be completed by 5pm on the evening preceding the sale day. A surcharge of 3% will be levied on the ultimate hammer price, in addition to the regular buyer's premium of 20%, for successful purchases executed using this service. Since online bidding is hosted by 3rd parties, Mealy's accept no liability whatsoever for disputes arising from same. We strongly encourage all prospective buyers to utilise our absentee bidding services in priority. Online bidders contract with the online auction host directly, not with the auction house.
However, by registering with an online auction host, the bidder:
- authorises Mealy's, if they so wish, to charge the credit card given to the online auction host, in part or full payment, including all fees, for items successfully purchased
-confirms that he or she is authorised to provide these credit card details and is indeed the account holder
11.) Auction Displays and Online Images
Images are used to display items for Sale at Auction. This service is merely a reminder to the customer of items viewed previously during exhibition days. We do not guarantee the quality or condition of the item viewed, the accuracy of the display image or guarantee the item on display is the item being sold. Subsequent disputes arising as a result of such image displays will not be entertained.
12. Mechanical & Electrical Items and Post - 1950 Furniture
Mechanical & electrical are sold as 'antiques' only, for decorative purposes. There is a duty on the buyer to have such items checked for compliance with safety regulations by a qualified expert. Please note the Auctioneers offer no after sale guarantee whatsoever with regard to mechanical and electrical items. We accept no subsequent liability for any damage, loss or injury arising from the use of the foregoing. All items of furniture in this sale are offered for sale as works of art. Such items may not comply with safety regulations and should not be used functionally unless inspected by a relevant expert.
13.) Export of Goods
Buyer's intending to export goods purchased at Mealy's should ascertain the following in advance of bidding:
- Whether an export license is required
- Whether there is any specific prohibition on exporting/importing goods of that character (e.g. CITES regulations)
14. Disputes & Agency
In the event of any dispute arising in relation to any of the foregoing, the matter shall be referred to an Independent Arbitrator to be agreed between the relevant parties. As auctioneers, we generally contract as agents for sellers whose identity, for confidentiality reasons, is not normally disclosed. Accordingly, a buyer's primary contract is with the seller.
15. Third Party Liability
All members of the public that enter on our premises at any time, for whatever reason do so at their at their own risk. Inaddition, Mealy's will not be responsible for any damage or loss caused to vehicles parked in the vicinity of our premises.
By participating in our sales, all bidders and buyers acknowledge that they have read the above terms and agree to be bound by our conditions of sale
Inspection
Ample opportunity is given for inspection. Each purchaser, by making a bid for a lot, acknowledges that he or she is fully satisfied before bidding, by physical inspection or otherwise, as to the description, condition, and other information relating to the lot. Despite all efforts being made to ensure accurate descriptions and estimates, lots purchased are assumed to have been viewed and inspected. As such, all lots are sold with all faults and errors of description, at the buyers risk. The Auctioneers are not responsible for the correct description, genuineness, authenticity or any default or defect in any lot, and make no warranty in this respect. Estimates reflect a range of values, the lower of which usually represents the reserve price. Buyers are reminded that estimates are merely the opinion of the auctioneer, are subject to change and are in no sense definitive.
Shipping
1. This is a Real Estate Only Auction. This Auction is an Online Auction with a Live Onsite Closing beginning 10 AM Saturday, December 5, 2015. This Auction will be on a RESERVED basis. Selling to the Last and Highest Bidder at or above the Seller's unspecified reserve amount. If the bid from the Last and Highest Bidder is below the Seller's unspecified reserve amount, an offering will be made to the Seller of this Last and Highest Bid. This Bid will be subject to the Seller(s) confirmation within 24 hours. The Seller will have the options to accept, counter, or reject the offer. If you are the Last and Highest Bidder you will be notified by e-mail.
2. A 10% Buyer's Premium will be added to the Last and Highest Bid for the final total contract purchase or offer price. For example: A $10,000 bid plus the $1,000 buyer's premium equals the $11,000 final purchase price. There will be a 1% internet purchase fee of the 10% Buyer's Premium charged on all online real estate sales. Broker/Auctioneer will receive 9% of the 10% Buyers Premium if sold online(internet purchase) and closed.
3. A 10% deposit of the total contract purchase price must be paid if you are the Last and Highest Bidder on Auction Day. If the Agreement is terminated due to Buyer's default, the deposit money shall be forfeited to the Seller for liquidated damages because of the nonperformance by Buyer. Buyer shall be entitled to the return of the 10% deposit upon the default of the Seller.
4. In registering to bid, you agree and guarantee that you will be able to pay the 10% deposit of the total contract sales price and that you will be able to provide proof through a bank letter of payment guarantee of the remaining total contract purchase price (if so requested). There is no financing contingency. Buyer is in default if there is an inability to obtain financing. Amount of Last and Highest bid plus 10% Buyer's premium is the total contract purchase price amount plus any wire transfer charges. This 10% deposit (certified funds, or wire transfer) must be received by FedEx or UPS by 4 p.m. Tuesday, December 7, 2015 if you are the Last and Highest Bidder. Balance due at closing within 45 days.
5. The property is selling "AS IS, WHERE IS" condition with no warranties expressed or implied and in its existing state and condition. This is a cash sale. NO FINANCING CONTINGENCY.
6. In the event of default of the Purchaser, the 10% of total gross contract deposit shall be forfeited by the Purchaser as part of the damages.
7. Previews of the property will occur Sunday, November 22, 2015 2-4 p.m. and Friday, December 4, 2015 from 12:00-4:00 p.m. For a private showing to qualified bidders, please contact Philip E. Painter 229-561-3497.
8. You, your partners and any experts (contractors,etc.) are invited to inspect the property, review and obtain all pertinent property information. Qualified Bidders may contact Philip E. Painter to arrange the times for any inspections of the property.
9. The property has not been surveyed for this auction. Purchaser will be responsible for any survey charges if one is desired.
10. Seller warrants at closing Seller will convey good and marketable title to said Property by special warranty deed.
11. Property taxes to be pro-rated as of the date of closing, rollback taxes are to be paid by Purchaser if applicable.
12. Purchaser shall pay for the deed stamps and revenue stamps and all closing costs.
13. In the event Purchaser/Buyer would like a title examination and title insurance the same must be requested and authorized by the Purchaser at extra cost.
14. Purchaser acknowledges he/she has read and agrees to be bound by the additional terms and conditions set forth.
15. The Buyer agrees to insure the real estate property purchased at auction against all losses from the Auction Date until the date of possession by the Buyer.
16. Broker Participation invited. To qualify the Broker must register by mail, e-mail, fax, or hand deliver the Broker Registration form prior to "represented bidder/buyer" registration. A Broker cannot act as a principal and a broker on the same transaction. Unless noted otherwise, a broker commission of (20%) of Auctioneer's commission (10% Buyer's Premium or total paid as Auctioneer's Buyer's Premium) will be paid at closing of the home. The Broker must bid for or with the buyer represented.
17. Auctioneer reserves the right to conduct the auction in an orderly fashion, without interference or nuisance. Conduct of the auction and increments of bidding are at the sole direction of the auctioneer. In case of dispute among competitive bidders, auctioneer may reopen bidding to identify the high bidder or may declare one as the successful bidder. Any and all decisions by the auctioneer shall be final.
18. Auctioneer may solicit back-up purchase contracts from bidders. Such as back-up contracts are automatically in position to become the successful contract in case the first purchase contract fails to close.
19. Announcements made at the time of sale take precedence over any and all printed material.
20. All parties agree to execute any and all documents and papers necessary in connection with closing and transfer of title on or before January 20, 2016: "TIME IS OF THE ESSENCE" at the law office of Danny Studstill, Studstill Law Firm, LLC; 110 Dogwood Drive, Nashville, GA 31639. Telephone: 229-686-3500. Paralegal: Sarah Surface. E-mail: sarah@studstillfirm.com.
Property information documents should be available at www.auctionsbypep.com, Please contact/message Philip Painter, Broker, Auctioneer PEP AUCTION & REALTY SOLUTIONS, LLC for any questions about the auction or obtaining documents. Thank you.
Call or Text: 229-561-3497
E-mail: auctionsbypep@gmail.com
www.auctionsbypep.com
GA RE 335842
GA AU 004106
