Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at the auction site and at www.rowellauctions.com, in the pre-bid package located from within the “View Documents” tab. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property, Do Not Bid!

Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.

Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.

Example: Rowell Auctions, Inc. Online Real Estate Auctions have a “Dynamic Close” auto extend feature. Once the bidding reaches 5 minutes before the scheduled bid closing, the “Rowell Dynamic Close” will begin. Upon receiving the first bid with under 5 minutes remaining, the bid closing will have an additional 5 minutes added. At that point the countdown continues. Example: If an auction scheduled to end at 2:00 p.m. receives a bid at 1:59 p.m., the close time of the auction automatically extends to 2:04 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 5 minute time frame.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Rowell Auctions, Inc. will reject the registration, and bidding activity will be terminated.

Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Rowell Auctions, Inc. Successful bidders will deposit 10% of contract amount in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.

Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final contract price.

10% Buyer's Premium Example:

Bid Price: $100,000

Plus 10% Buyer's Premium: $10,000

Total Contract Price: $110,000

Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and fax or email back to Rowell Auctions, Inc within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.

Auction Administrative Fee: In the event a winning bidder fails to submit the signed "Contract for Sale of Real Property" and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the "Contract for Sale of Real Property". All administrative fees are non refundable.

Closing: Time being of the essence, these sales shall be closed on or before May 12th, 2016. The purchaser will pay for all closing costs associated with the transaction. The 2016 ad valorem taxes will be prorated as of the date of closing. (Please refer to the Contract for Sale of Real Property)

Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid. On all other auctions, auctioneer reserves the right to bid on auctioneer’s behalf when permitted by law.

Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold "AS IS" with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

Bank Owned Assets - North & South Carolina