Terms and Conditions for Timed Online Auctions:
The following Terms and Conditions apply to all online auctions conducted by Tranzon
member companies. The auction company or companies conducting this auction is or
are referred to as “we” or “our” or “Auctioneer” in the following Terms and Conditions,
and references to the Auctioneer include all of the Auctioneer’s employees, officers,
directors, principals, employees, agents and other representatives. The Auctioneer
is a member company in Tranzon, LLC and Tranzon International, LLC. All Tranzon
member companies are independently owned and operated.
The Auctioneer is conducting this auction as an online auction only. Bidders are
referred to as “you” or “your” or “Bidder(s)” in the following Terms and Conditions.
You are required to acknowledge that you have read and understand these Terms and
Conditions before you will be allowed to register for and bid at this auction.
In addition, the Auctioneer may add additional terms and conditions (the “Additional
Terms and Conditions”) for this auction, and you will be required to acknowledge
that you have read and understand any such Additional Terms and Conditions. Such
Additional Terms and Conditions may include notification that there is a published
or unpublished reserve, or that the results of the bidding at this auction are subject
to Seller confirmation. In the event of any conflict between these Terms and Conditions
and any such Additional Terms and Conditions provided by the Auctioneer, the Additional
Terms and Conditions shall apply and shall supersede any conflicting provisions
in these Terms and Conditions.
Agent for Seller:
The Auctioneer does not own the property being sold in
this auction. The property being sold in this auction is owned by one or more parties
referred to in these Terms and Conditions as the “Seller.” The Auctioneer is representing
the Seller exclusively in this auction transaction.
It is your responsibility to obtain and read the Property Information
Package relating to the property being sold at this auction, as well as any and
all other information made available on the Tranzon website relating to this auction
and the property being sold at this auction. You acknowledge and represent that
you have done so. Notwithstanding the foregoing, you also acknowledge and agree
that the sale pursuant to this auction is being made on an “as-is, where-is” basis,
with no representations or warranties of any kind, expressed or implied, by the
Seller and/or the Auctioneer. You further acknowledge that any information contained
in the Property Information Package or otherwise obtained through the Tranzon website
or directly or indirectly from the Auctioneer and/or the Seller is being presented
to the best of the Auctioneer’s and the Seller’s actual knowledge without independent
verification. Therefore, it is your sole and exclusive responsibility to inspect
the property; review the documents relating to the property; assess the accuracy
and completeness of the information contained in the Property Information Package
and any such other documents; and independently verify and confirm any estimates,
projections, or assumptions relating thereto, none of which may be considered to
be guaranties. In connection therewith, you have the sole and exclusive responsibility
to select and consult with any and all professional advisors of your choosing in
determining whether to bid at this auction. You acknowledge that you have relied
exclusively on your own investigation and determinations and the advice or your
own professional advisors, and expressly represent that you have not relied upon
any information provided by the Seller or the Auctioneer in any way, whether through
the Property Information Package or other documents, through the Auctioneer’s website,
or by any oral, written or electronic communications with the Auctioneer or the
Seller, or otherwise.
No Conditions or Contingencies:
Without limiting the generality of the foregoing,
you acknowledge and agree (i) that the completion of the sale following the conclusion
of the auction is not contingent upon any inspection or verification of any such
information, and the Closing Date or Closing Time (as defined below) will not be
extended in order to permit any such inspection or review; (ii) that neither the
Seller nor the Auctioneer nor any broker participating in the transaction to which
this auction relates shall have any liability for any relief, including damages
of any kind, rescission or reformation of the Purchase Contract (as defined below)
or adjustment to the terms of the Purchase Contract based upon any failure of the
property to conform to any description contained in the Property Information Package,
or to any standard or any expectation that you may have in connection with the property;
and (iii) that the completion of the sale is not subject to any financing or other
contingency of any sort. You represent and warrant that by registering to bid and
bidding during this auction, you have conducted all necessary investigations, and
have determined to place a bid relying solely on your own independent investigation
or verification of material facts concerning the sale and the suitability of the
property for your intended use if you are the successful bidder.
Registration and Verification:
In order to bid at this auction, you will
be required to register at the Tranzon website, www.tranzon.com
(the “Tranzon website”). All Bidders seeking to register
for this auction must be eighteen (18) years of age or older, must be eligible to
bid in the Auctioneer’s sole discretion based on the Auctioneer’s past experience
with the registering bidder or otherwise, and are subject to verification through
credit card information that must be provided in the registration process. You will
be asked to provide credit card information for this purpose, and we will use a
third party service or other process to verify that your credit card is valid and
has available credit.
When your registration to bid on this auction has been approved, you will receive
an email notification that you have been approved for bidding. If we are unable
to verify your credit card, you will have no rights to bid at this auction, and
your registration will be deemed to be not accepted and/or terminated or extinguished
without notice. In addition, bidding rights are not absolute, and all registrations,
even if successfully verified by credit card as described above, are subject to
manual verification at any time, and from time to time, by the Auctioneer. We may
suspend or terminate your registration for this auction at any time, and for any
and all reasons or for no reason, in our sole discretion. We will notify you by
email if your approval to bid at this auction has been terminated or suspended.
This auction is a timed auction event. Bidding is scheduled
to begin and close at the times set forth on the Tranzon website. All time references
on the bidding site for Tranzon online auctions are expressed in Eastern Time, and
you should therefore be mindful of the need to convert to local time when bidding
on auctions of properties located in other time zones. It is your responsibility
to check the Tranzon website carefully so that you are aware of the scheduled closing
Extended Bidding Time:
Notwithstanding the scheduled closing time for this
auction, in the event that a bid is made at any time during the final four (4) minutes
of the scheduled bidding time, the bidding time will automatically be extended for
an additional four (4) minutes. For example, if the bidding is scheduled to close
at 3:00 PM ET, and a bid is placed at 2:58 PM ET, the bidding will be extended until
3:04 PM. Subsequent and additional extensions shall be applied to any and all bids
placed during any such extension period until an extension period has expired without
additional bids being placed, at which time the bidding time, as extended, shall
be closed. The number of minutes (four (4) minutes) of Extended Bidding Time described
in this paragraph may vary in the sole discretion of the Auctioneer and may be fewer
or more than four (4) minutes, all as set forth in the Additional Terms and Conditions.
Because of the possibility of extended bidding time, Bidders should continue to
participate in the auction until receiving notification that the auction has closed
and, in the case of a presumed High Bidder, until receiving a notification of the
amount of the high bid as of the time of closing of the auction.
Bidders must take care in entering bids, and each
Bidder will be responsible for all bids placed under the Bidder’s approved registration.
Once entered and recorded online, a bid is deemed to be final on behalf of the registered
Bidder and may not be modified, retracted or rescinded in whole or in part.
Once bidding has commenced, any advances on a bid must be
made in increments at least as great as those which we, in our sole discretion,
have determined. We may, in our sole discretion, change or modify the required bid
increments from time to time, or at multiple times, during the auction. We also
provide opportunities for a bidder to submit a maximum bid amount (often called
a “max bid”) and to direct that our website bid on such bidder’s behalf in scheduled
increments until the maximum amount identified by the bidder has been reached. In
the event that you later enter a max bid with the same maximum bid amount as was
previously authorized by another bidder’s max bid, or enter a specific bid in the
same amount as was previously authorized by another bidder’s max bid, the other
bidder’s max bid as previously entered before your bid will be deemed to be the
prevailing bid at that amount, and you will be deemed to be outbid. In the event
that there should be any dispute among competitive bidders with regard to the identity
or amount of the high bid, the Auctioneer may reopen bidding on the property and
may, in conjunction with such reopening of the bidding, designate one of the bidders
as the “High Bidder” in the Auctioneer’s sole discretion. All decisions by the Auctioneer
shall be final.
We have made reasonable efforts to provide for online
bidding for this auction. You recognize and acknowledge, however, that technical
problems with hardware, software, or internet connectivity, as well as human errors,
may arise and may affect, without limitation, the Tranzon website, our online bidding
program and process, your or our internet service and access, and your connection
to this auction’s bidding program and process. You further acknowledge that these
and other technical problems may develop at any time and with or without notice.
You acknowledge and agree that neither we nor the Seller is in any way responsible
for any such technical problems, and that you have no absolute or other right to
be able to bid on this auction in the event of any such technical problems. Notwithstanding
the foregoing, you further acknowledge and agree that, in the event of any such
technical problems, we reserve the right to postpone or cancel the auction and/or
extend the bidding time for this auction and/or relist the property for auction
at another time, in our sole discretion, and that our decision with regard to any
such actions is and will be final.
Terms Specific to This Auction or Property:
As noted above, the Auctioneer
may provide Additional Terms and Conditions that are specific to this auction or
the property or properties being sold at this auction. Without limiting the generality
of the foregoing, such Additional Terms and Conditions may, but shall not necessarily
be required to, relate to the following provisions, among others: extended bidding time; and bid increments.
Bid Deposit: A bid deposit in an amount set forth on the Tranzon website
or as communicated by the Auctioneer in the Additional Terms and Conditions may
be required in order to bid. Any such deposit may be required in the form of a credit
card authorization or actual funds, which the Auctioneer may hold until the completion
of bidding and for a reasonable period of time to allow for the release of any such
deposit and/or the return of any such funds after the conclusion of the auction.
General Terms and Conditions:
Earnest Money Deposit: If you are the successful bidder, you may then be
required to tender an additional deposit in the form of a cashier’s check or wire
transfer, within 24 hours or such other time as may be specified by the Auctioneer
following the close of the auction, to be held by the Auctioneer or a designated
escrow agent, all as set forth on the Tranzon website or in the Additional Terms
Purchase Contract: If you are the successful bidder, you will be required
to sign a purchase and sale agreement or similar agreement or document, however
captioned or titled (the “Purchase Contract”) and other necessary documents in the
form designated by, and within the time periods established by, the Auctioneer,
generally 24 hours. The terms of the Purchase Contract are expressly not negotiable
and the Purchase Contract must be signed in the name of the high bidder and, except
as may specifically be permitted by the terms of the Purchase Contract or expressly
agreed upon in writing by the Seller or Auctioneer in their sole discretion, may
not be assigned to any other person or party. The Purchase Contract and such other
documents will set forth the specific terms and conditions of the sale, including
the time by which the high bidder’s purchase of the property must be completed.
Copies of some or all of these documents are available on the Tranzon website or
may be obtained from the Auctioneer, and it is your responsibility to obtain, read,
and understand the provisions of any such documents before bidding at this auction.
The Seller’s obligations to the successful bidder are exclusively as set forth in
the Purchase Contract.
Buyer’s Premium: A buyer’s premium (“Buyer’s Premium”) in a percentage specified
by the Auctioneer as noted on the Tranzon website or in the Additional Terms and
Conditions may be added to the successful bidder’s highest bid price. Any such Buyer’s
Premium shall become part of the total purchase price in the Purchase Contract,
and must be paid by the successful bidder.
Closing: All sales must close within a period of time (the “Closing Time”)
or on a date certain (the “Closing Date”) set forth in the Purchase Contract, unless
extended by the Seller in writing. Unless otherwise provided in the Purchase Contract
or other documents pertaining to this particular auction, any extensions shall be
requested in writing not later than five (5) days before expiration of the Closing
Time or the scheduled Closing Date, as the case may be, and any such requests may
or may not be considered by the Seller and granted by the Seller in the Seller’s
sole discretion. In preparation for the closing, the balance of the purchase price
and any and all other funds necessary to complete the purchase must be provided
by the successful bidder to the Seller or its closing agent(s), in immediately available
funds or by wire transfer as directed by the Seller’s closing agent(s), not later
the forty-eight (48) hours before the scheduled closing or at such other time as
may be expressly designated by the Seller’s closing agent(s).
High Bidder’s Default: Successful Bidders who fail to close in a timely manner
for any reason shall be required to release their deposit(s) to Seller as partial
and nonexclusive liquidated damages and not as a penalty, and the Seller retains
the unilateral right to cancel any escrow and retain the successful bidder’s deposit
in the event the successful bidder fails to complete the purchase as required by
the terms of the Purchase Contract. In addition, in the event the successful bidder
fails to submit the executed Purchase Contract and any required earnest money deposit
as required by these Terms and Conditions and any Additional Terms and conditions,
the successful bidder agrees to pay tothe Auctioneer a fee of Five Thousand Dollars
($5,000) or such other amount as may be specified in any Additional Terms and Conditions,
which amount may be paid by retention of the high bidder’s deposit check in the
sole discretion of the Auctioneer. A successful bidder who fails to submit an executed
Purchase Contract, fails to make any required earnest money deposit, or fails to
close in a timely manner may also be prohibited from bidding on future auctions
conducted by the Auctioneer or the Auctioneer’s affiliates, in the discretion of
the Auctioneer and any such affiliate or affiliates. These remedies are in addition
to any other remedies, including specific performance, and/or additional money damagesthat
the Seller and/or the Auctioneer may have in equity or at law. The Auctioneer and
the Seller also reserve the right immediately to put the property up for sale again.
You acknowledge and understand that the Auctioneer
reserves the right, for any reason or for no reason in the Auctioneer’s sole discretion,
(i) to determine who has access to and who may bid at this auction, (ii) to postpone
or cancel the auction, (iii) to withdraw the property or any one or more properties
from the auction, (iv) to change any terms of the auction or particular conditions
of sale upon announcement prior to or during the course of the auction, (v) to bid
on behalf of the Seller up to the amount of any reserve price, where permitted by
law, (vi) to reject any and all bids, and (vii) to select the winning bid. You further
acknowledge that neither the Seller nor the Auctioneer nor any broker involved in
this auction is making any representation or warranty as to the manner in which
the sale process will be managed, and that, except as may otherwise be provided
by law, any acceptance of a winning bid prior to the execution of a binding Purchase
Contract may be rescinded by the Seller in the Seller’s sole discretion and for
any reason whatsoever including the receipt of a subsequent bid, and that the Seller’s
obligation to sell any property or properties in this auction shall not be binding
until such final Purchase Contract is signed and delivered by the Seller and the
winning bidder. The Auctioneer may sell the property or any one or more properties
subject to this auction in advance of the auction, in the Auctioneer’s sole discretion.
The sole and exclusive venue for any disputes regarding or relating in any way to
this auction or the transactions made in conjunction with this auction shall be
in the state courts of general jurisdiction located in the jurisdiction where the
property that is subject to this auction is located, or if more than one such jurisdiction
is related to such property or properties, in any one of such jurisdictions as the
Auctioneer may select, or, at the election of the Seller in its sole discretion
in any jurisdiction where the Seller maintains a principal or other place of business,
and you irrevocably submit to the jurisdiction of such courts.
Additional Terms and Conditions:
Additional Terms & Conditions
THE property of Harleysville Savings Bank is now being offered for sale under and subject to the following conditions and stipulations.
SAID property to be sold is 1162 N. State Street including 0.48 acres or 20,908 sq ft more or less in the Township of Upper Pottsgrove, County of Montgomery, in the Commonwealth of Pennsylvania with all buildings and improvements and known as tax parcel #60-00-02845-002.
SAID property shall be sold at or above an opening bid of $30,000 plus 10% Buyer’s Premium. THE highest and best bidder shall be the Buyer or Buyers. Should any dispute arise between two or more bidders, the property may, at the option of the Seller, be put up for sale again.
In order to bid at these auctions, you will be required to register at the Tranzon website, www.tranzon.com
(the “Tranzon website”). All Bidders seeking to register for this auction must be eighteen (18) years of age or older, must be eligible to bid in the Auctioneer’s sole discretion based on the Auctioneer’s past experience with the registering bidder or otherwise, and are subject to verification through credit card information that must be provided in the registration process. You will be asked to provide credit card information for this purpose, and we will use a third party service or other process to verify that your credit card is valid and has available credit.
When registration to bid on this auction(s) has been approved, you will receive an email notification that you have been approved for bidding. If we are unable to verify your credit card, you will have no rights to bid at this auction(s), and you registration will be deemed to be not accepted and/or terminated or extinguished without notice. In addition, bidding rights are not absolute, and all registrations, even if successfully verified by credit card as described above, are subject to manual verification at any time, and from time to time, by the Auctioneer. We may suspend or terminate your registration for this action at any time, and for any and all reasons or for no reason, in our sole discretion. We will notify you by email if your approval to bid at this auction has been terminated or suspended.
Bidding Format: Once bidding has commenced, any advances on a bid must be made in increments at least as great as those which Tranzon Alderfer has determined. We also proved opportunities for a bidder to submit a maximum bid amount (often called a “max bid”) and to direct that our website bid on such bidder’s behalf in scheduled increments until the maximum amount identified by the bidder has been reached. In the event that you enter a max bid with the same maximum bid amount as was previously authorized by another bidder’s max bid, or enter a specific bid in the same amount as was previously authorized by another bidder’s max bid, the other bidder’s max bid as previously entered before your bid will be deemed to be the prevailing bid at that amount, and you will be deemed outbid. You will be emailed if someone outbids you. In the event of competitive bidding in the last 4 minutes of the auction, this auction enables an auto-extend feature at 4 minute intervals which prohibits all sniping software and activity.
Buyer’s Premium: A ten percent (10%) Buyer’s Premium will be added to the bid price to obtain the final purchase price. The bid amount that is shown as the high bid is without the Buyer’s Premium. All bids in the online bidding will have a 10% Buyer’s Premium added to determine the Final Purchase Price. Example:
Bid Price: $100,000
Plus 10% Buyer’s Premium: $10,000
Final Purchase Price: $110,000
Notification of Winning Bidder: At the conclusion of the auction and upon bid confirmation by the Seller, the successful bidder will be notified and must immediately execute and return the Agreement of Sale to Tranzon Alderfer. Use of online contracts and electronic signatures may be required.
Deposit Amount: The successful bidder will deposit 10% of the Final Purchase Price in the form of a certified check or by wire transfer to Tranzon Alderfer within 24 hours of the auction closing. This deposit will be held in the escrow account of Tranzon Alderfer.
Non-Compliance: A Non-Compliance Fee of $5,000 will be charged to your registered credit card if you are the Successful High Bidder and fail to complete the Agreement of Sale and deposit the required earnest funds within 24 hours of the auction closing. This Non-Compliance Fee is charged as a penalty for failing to complete the transaction as called for in the agreed upon Terms & Conditions.
Settlement Date: The Buyer will pay the balance of the Final Purchase Price on or before April 28, 2017. Possession will be transferred upon recording of the deed. Taxes will be prorated to the day of closing.
Property Condition: The property is being offered for sale “AS-IS, WHERE-IS” and with all faults without warranty, expressed or implied, of any character, except for any warranties described in the Agreement of Sale. The sale is not contingent on mortgage financing, seller assistance, property inspection, radon inspection, water certification, septic inspection or termite inspection. To the extent the municipality in which the property is located requires any Certificate of Occupancy or similar certificate in connection with the conveyance of the property, it shall be Buyer’s responsibility to obtain same at its sole cost and expense, including the cost for repairs of any item required to obtain same, regardless upon which entity the law imposes such obligation. Your complete inspection of the property prior to the submission of a bid is invited. Bidder understands that he will be relying solely on bidder’s own information when bidding and that bidder has conducted sufficient due diligence to honor all bids, execute the Agreement of Sale, and close the sale if bidder is the successful bidder for the property.