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TERMS AND CONDITIONS OF AUCTION #1306
REALTY MARKETING/NORTHWEST
AUCTION INFORMATION OFFICE
Corporate Office
522 SW Fifth Avenue, Suite 1250
Portland, Oregon 97204
Phones (during regular business hours -
8:30 AM to 5:00 PM Pacific Time):
Portland Metro Area
(503) 228 3248
Toll Free
(800) 845-3524
Facsimile
(503) 242-1814
Email
On-site Auction Information Office is open during Open House In-
spection times only:
1515-1517 NE Village Street (second floor)
Fairview, Oregon 97024
Inspection Times:
Sunday, July 14, 10:00 am to 1:00 pm
Saturday, July 27, 10:00 am to 1:00 pm
Saturday, August 10, 10:00 am to 1:00 pm
Saturday, August 17, 10:00 am to 1:00 pm
Tuesday, August 20, 10:00 am to 1:00 pm
FINANCING
Financing is available to qualifiedparties fromAnchor Bank. Prospective
bidders are required to be either pre-qualified for financing withAnchor
Bank prior to submission of bid, or pre-qualified for financing from a
bank other than Anchor Bank prior to submission of bid. Bidders must
submit a letter of pre-approval with their bid. Submission of a bid
contingent on financing will not be recognized.
MINIMUM BID
A Minimum Bid has been established for each Townhome. This means
that the Seller has agreed to accept, at this Auction only, the highest bid
equal to, or greater than, the Minimum Bid for each Townhome. No Bid
below these minimums will be recognized.
BID PROCESS AND CLOSING
Sealed Bids must be submitted to Realty Marketing/Northwest on the
Seller’s Bid Form no later than 5:00 P.M., Pacific Time, Wednesday,
August 21, 2013. The bid must be submitted with an executed Purchase
and Sale Agreement, accompanied by a certified or cashier’s check in
the amount of five percent (5%) made payable to Realty Marketing/
Northwest Client Trust Account (RM/NW CTA), as an earnest money
deposit. All due diligence and inspections must be completed prior to
bid submission, and bidders requiring financing must be pre-qualified.
Bidders will be notified of acceptance or rejection no later than August
28, 2013. Escrows will close no later than October 9, 2013, unless
extended by the Seller in writing. Unsuccessful bidders’ earnest money
deposits will be returned within three (3) days of Seller’s rejection.
Earnest money deposits for the successful bidder will be considered
earned and become non-refundable liquidated damages in the event
of Buyer’s default. Buyers will be required to pay customary closing
costs including, but not limited to, recording fees, normal proration and
documents preparation fees. Seller will provide owner’s title insurance
at the Seller’s expense. Any extended coverage will be the responsibility
of the Buyer.
ADDITIONAL TERMS AND CONDITIONS
No claim will be considered for allowance, adjustment or rescission
based upon failure of the property to correspond to any particular
expectation or standard (except the Preliminary Title Report).
Title insurance is available for each Unit insuring the title of such
property to be in fee simple, subject to no encumbrances except for
current taxes and assessments, easements, right of ways, reservations,
covenants, conditions and restrictions of record, purchase money
financing and printed exceptions in the standard form Owner’s Title
Policy. A copy of the Preliminary Title Report for the property should
be inspected prior to the Auction.
To the extent permitted by law, the property will be sold “As Is”.
Prospective buyers should examine the property and all supporting
documentation carefully. Each bidder is responsible for evaluating the
property and shall not rely on the Seller or sales agents. All buyers will
take possession at close of escrow.
Sizes and square footages set forth for each Unit are approximations
only, based on the best information available, but actual sizes and
square footages may be different.
Agency Disclosure: The selling and listing agent, Realty Marketing/
Northwest and John L. Scott, represent the Seller in these transactions.
Seller has the right to postpone or cancel the Auction in whole or in part,
at its sole discretion, and to modify or add any terms and conditions of
sale and to announce such modifications or additional conditions prior
to the Sealed Bid Due Date.
Offer void where prohibited. Catalog will not be mailed to the residents
of any state in which this offering is not in compliance with the real
estate laws or other laws of that state.
The information contained here has been gathered from sources
deemed reliable; however, Realty Marketing/Northwest makes no
warranties expressed or implied as to the accuracy of the information
contained here.
NEED HELP?
Realty Marketing/Northwest prides itself on the quality of its service.
If at any time you need assistance, please contact Sharon Peede at (800)
845-3524 or (503) 228-3248.
Auction Conducted By:
Realty Marketing/Northwest, in affiliation with
John L. Scott, The Tony Lozzi Team
Catalog #1306
