Auction Terms & Conditions HOUSE & PROPERTY
Subject to amendments and modifications announced by the Auctioneer at the time of the auction, any person participating in the auction shall be bound by the following terms and conditions. All bids constitute a legally binding contract and bidders will be legally obligated to make payment and remove items in accordance with the terms and condtions of the auction.
Buyers Premium: A 5% Buyers Premium will be charged on full purchase price.
All bidding and invoicing will be in Canadian Dollars CAD ($)
The Buyer shall submit a NON REFUNDABLE DEPOSIT / OFFER TO PURCHASE in the amount of 15% of the purchase price plus the 5% buyers premium within 24 hours after being declared the high bidder. The balance of the purchase price shall be paid within 30 days.
Any failure by the Buyer to complete the purchase of the property will result in their deposit and any further interest in the property being forfieted.
Closing & completion of title transfer and all real estate transactions will be handled by a qualified lawyer, notory, or real estate agent appointed by the Seller and Auction Company. Closing will take place 30 days after the auction closing date, or such other date as agreed to by the parties. Title transfer and legal fees to be split 50 / 50 between Buyer & Seller.
All Deposits, earnest and purchase monies in respect of the property shall be paid to and deposited with Champion Assets Ltd.
Purchaser will receive vacant possesion on the date of closing.
This is a cash sale and is NOT contingent on Buyers ability to obtain financing.
Property sells "AS IS". The Buyer shall accept the Property in an "as-is" condition as of the closing date and the Buyer specifically agrees that neither the Seller nor the Auctioneer makes any representations or warranties of any kind whatsoever, expressed or implied, to the Buyer as to the condition or fitness of the Property, environmental or otherwise, or any improvements thereon. All descriptions, measurements and acreage provided by the Seller and the Auctioneer are to be used as a guide only. The Buyer shall have satisfied himself as to the location and condition of the Property, and all descriptions with respect thereto, prior to bidding. Mines and minerals are not included unless otherwise expressly provided.
The Auctioneer (and any appointed Real Estate Agent, where applicable) is acting as an agent of the Seller only, and not as an agent of the Buyer or a dual agent.
GST is applicable where noted.
No personal property shall be conveyed with the Property unless specifically included in the purchase agreement / lot description of the auction.
The Buyer may not assign his bid or obligation to purchase the Property to a third party without the prior written approval of the Auctioneer.
GENERAL MERCHANDISE AUCTION TERMS & CONDITIONS
Subject to amendments and modifications announced by the Auctioneer at the time of the auction, any person participating in the auction shall be bound by the following terms and conditions.
All bids constitute a legally binding contract and bidders will be legally obligated to make payment and remove items in accordance with the terms and condtions of the auction.
Buyers Premium: A 5% Buyers Premium will be charged on all purchases.
All items must be removed from the premises in the time announced by Auctioneers. It is the buyers responsibility to remove all items in the allotted time at the buyers sole expense.
All applicable sales, use, transfer or excise taxes arising from sale will be charged to buyer, and will be added to purchase price in accordance with Provincial & Federal law. Auctioneers assume no responsibility for any liability once bid is accepted.
All announcements made on the auction day shall take precedence over previously distributed information.
Payments shall be made by way of cash, company checks with auctioneers approval, bank draft or wire transfer.
All bidding and invoicing will be in Canadian Dollars CAD ($) The purchase price must be paid in full before or immediately after the conclusion of the auction. The auctioneer reserves the right to put articles back up for auction if payment is not received at or before the conclusion of the auction. All invoices must be checked on the day of the auction as no adjustments will be made thereafter.
All equipment / items must be removed by: December 18, 2020
Anyone outside of Canada or the continental United States will be required to wire transfer a minimum deposit of $5000 to be approved for all non-onsite bidding. All deposits must be received 24 hours before the auction. All bidsconstitute a legally binding contract and bidders will be legally obligated to make payment and remove items in accordance with the terms and conditions of the auction.
Purchases that are not removed within the designated time will be considered abandoned.
All articles will be sold to the highest bidder conforming to the bid process. The auctioneer reserves the right to sell on behalf of third parties, its own account or on the account of others. Should any dispute arise between two or more bidders or as to any bid, the lot in question may, at the auctioneer's discretion, be resold. The auctioneer shall regulate all matters relating to the conduct of the auction and his decision shall be final and binding on all bidders. The auctioneer shall at all times be entitled to make changes in (the composition of) the lots or to withdraw them, up until the last moment before the auction, refuse bids without having to state the reasons,in which case the previous bidders shall be bound to their bids and to correct himself.
The auctioneer reserves the right to sell subject to reserve and to purchase for its own account and/or for the account of others, whether by verbal or written proxy, all subject to prior sale.
Champion Assets Ltd. reserves the right to correct any mistakes or typographical errors made in any of its announcements or documents, without the ability of deriving right from the corrected announcements.
All sales shall be concluded on the fall of the hammer or as indicated by the auctioneer and no purchaser may thereafter revoke a bid. Title to the lots purchased shall not pass until payment in full of the purchase price is received.
ALL SALES ARE FINAL, ON AN "AS IS - WHERE IS", "IN PLACE", "WITH ALL FAULTS" BASIS WITH NO
CONDITIONS OR WARRANTIES WHETHER EXPRESSED, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION, WARRANTIES OR CONDITIONS AS TO TITLE, DESCRIPTION, FITNESS FOR PURPOSE, QUANTITY, QUALITY, MERCHANTABILITY, STATE, CONDITION, LOCATION OR OTHERWISE. NO SALE SHALL BE INVALIDATED AND THE AUCTIONEER SHALL HAVE NO LIABILITY FOR A MISDESCRIPTION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT OR OTHERWISE.
DESCRIPTIONS HAVE BEEN PREPARED FOR GUIDE PURPOSES ONLY AND SHALL NOT BE RELIED UPON BY THE PURCHASER FOR ACCURACY OR COMPLETENESS. BY SUBMITTING A BID, THE BUYER/BIDDER AFFIRMS THEY HAVE INSPECTED ALL ITEMS BEFORE BIDDING. PURCHASERS SHALL BE DEEMED TO HAVE RELIED ENTIRELY UPON THEIR OWN INSPECTIONS AND INVESTIGATIONS.
No article shall be removed unless paid in full and all articles purchased shall be removed in the time allocated by the auctioneer or as stated on the invoice. No item, no matter how small or how far the purchaser has to travel, may be removed until the close of the auction sale. The purchaser shall be responsible for all costs of removal and load out and shall be liable for any damage, including without limitation, any environmental damage, caused during or as a result of the removal. Purchasers shall comply with all environmental laws and regulations and all requirements established by the auctioneer for the removal of articles, including requirements as to bonding of movers.
Where available, documents of transfer, including motor vehicle ownership documents, which are in the possession of the auctioneer, will be provided to the purchaser within 7 days following the auction or as soon thereafter as such documents are available. If the auctioneer is unable to deliver an article sold to a purchaser due to fire, theft, or any other reason whatsoever, the auctioneer shall reimburse the purchaser for all monies paid to the auctioneer in respect to the article and the auctioneer shall have no further liability to the purchaser arising from or relating to such loss, including without limitation, any damages for loss of profits.
The auctioneer reserves the right to refuse any applicant the privilege of bidding or attending the auction and may revoke such privilege at any time.
If a purchaser fails to make payment or remove goods within the time periods announced by the auctioneer at the beginning of the auction, the auctioneer may resell the article purchased by auction, a private contract or otherwise, as the auctioneer at his discretion deems advisable, and the purchaser shall be liable for the shortfall and all costs and expenses, including but not limited to interest rates (a minimum of 1.5% per month or 18% per annum), legal fees, moving and storage (a minimum rate of $2.00/sq ft per month) and commissions, incurred in such resale.
No purchaser may assign, transfer or dispose of his rights in any article purchased before he has paid the purchase price in full. No reselling will be allowed from the premises. Champion Assets Ltd. shall have the right to make image and audio video recordings of the auction, to use said recordings and if deemed appropriate, to make this public.
Participants give their permission by participating in the auction.
All risk of loss shall pass to the purchaser at the time of payment excepting; the auctioneer shall reimburse the purchaser for all monies paid to the auctioneer in respect to any article that the auctioneer cannot deliver due to theft or disappearance. The auctioneer shall have no further liability to the purchaser arising from or relating to such loss, including without limitation, any damages for loss of profits.
The buyer hereby assumes and does agree to indemnify and hold the auctioneer and seller harmless from any current or future claim which shall pertain to the fitness, use, damage, safety, injuries to persons or property that may have been caused by or during removal or use of item(s) purchased, or any other claim regarding the use of that asset as purchased. All buyers acknowledge and accept the Terms and Conditions of the Auction. I acknowledge that by filling out this form, I give my written consent to Champion Assets Ltd. to communicate to me via e-mail to the address(es) listed herein. I confirm that I have authorization to provide consent for e-mail to the e-mail address(es) that I provide below, and further agree to indemnify and hold harmless Champion Assets Ltd. for any action or loss arising from any incorrect or false e-mail address(es) provided herein. I acknowledge that, should I desire to revoke this written authorization, I will inform Champion Assets Ltd. of such revocation.
This sales transaction shall be governed by and construed in accordance with the local laws of the province in which the auction is conducted. If any provision of these terms and conditions shall be held invalid, illegal, unenforceable or inoperative, the balance of the terms & conditions shall remain in full force and effect as if such provisions had not been included. The auctioneer is acting as agent only and is not responsible for the acts of its principals.
These terms and conditions with any amendments or modifications expressly made by the auctioneer at the time of the auction constitute all the terms and conditions with respect to the sale of articles at this auction.
There are no representations, warranties, terms, conditions, undertakings or collateral agreements except as hereinabove provided.
A Buyer's Premium will apply to all auction purchases at the advertised rate(s).
REGISTRATION & BIDDING ONLINE: You must be pre-approved by Champion Assets Ltd. to bid Online. The preapproval process is simple but necessary. Champion Assets Ltd. will verify telephone number and confirm agreement to the Terms & Conditions.
Seller User Terms
Bidder User Terms