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Auction Catalog:
The Auction Catalog contains the list of auction properties and will be released approximately 4 to 6 weeks prior to the auction date. This allows our customers to do as much auction property research as possible.
All inquiries and requests for a Free Auction Catalog will be fulfilled as soon as the Auction Catalog is available.
For questions about the upcoming land auction or to obtain a Free Auction Catalog, please contact us online or call 1-866-SUNNYLAND (786-6952).
Auction Registration:
Auction Registration is Free. All bidders must register and will be issued a bidder's number in order to bid at the auction. The Bidder Number will also serve as your entry ticket for the FREE HOURLY DRAWINGS of VALUABLE LAND. Registration will begin at 8:30 AM on auction day and continues all day (until approx. 3:30 PM. Auction starts promptly at 9:30 AM.
"A Free Bidder Seminar will begin at 9:15 AM. The seminar will provide a comprehensive explanation about how to bid and purchase land at this auction."
Seller retains the right to deny anyone admittance or expel anyone from the auction for any reason (including but not limited to "harassment", "solicitation", "disorderly conduct," and "being under the influence.")
Details and changes are announced on this webpage 4-6 weeks prior to each auction.
General Auction Terms:
The "Main Ring Live Auction" will be a live, oral, public auction of Properties 1 - 150. The Main Ring Live Auction properties are being sold to the highest bidder, meaning that these properties will be offered with only a very low Minimum Opening Bid (usually between $100.00 and $2,000.00) and NO Reserve Bid. Some properties do have a hidden reserve and all sales are subject to the seller's acceptance of the high bid.
The "Side Ring Auction" will have a separate auction where an additional set of 20-30 properties will be available on a first come, first serve basis. These properties are not yet listed and will only be listed approx. 10 days prior to the auction on the webpage www.sunnyland.com The side Ring properties each have Built-In Financing and will be sold throughout the day on a first come, first serve basis.
Main Ring Live Auction - Terms of Sale:
All parcels in the "Main Ring Live Auction" (Properties 1 - 150) are being sold on a CASH or TERMS basis. This means that the properties can be purchased with cash or financed through seller financing. All loans extended the day of the auction are fully amortized at an interest rate of 13.5%. A low down payment of 25% of the winning high bid (or $1,000.00, whichever is greater) is required immediately after individual property auction ends. There is no pre-payment penalty for early loan pay-offs. All parcels sold at auction can also be paid in full the day of the auction.
The length of the loan term (time to pay-off) depends on the final winning bid amount. The loan term is based on the guidelines below:
Length of Loan Term
If the financed loan amount is:
$1 - $4,999 Can be financed for up to 3 years (= 36 months)
$5,000 - $9,999 Can be financed for up to 5 years (= 60 months)
$10,000 - $19,999 Can be financed for up to 8 years (= 96 months)
$20,000 - $29,999 Can be financed for up to 10 years (= 120 months)
$30,000 - $39,999 Can be financed for up to 12 years (= 144 months)
$40,000 - $59,999 Can be financed for up to 14 years (= 168 months)
$60,000 + Can be financed for up to 15 years (= 180 months)
With the above Length of Loan Term information your expected monthly payment will be within the following range: (note: all monthly payment amounts are calculated taking into consideration the 25% cash down payment on auction day and an interest rate of 13.5%).
Estimated Monthly Payment
If the financed loan amount is:
$1 - $4,999 The monthly payment will be in the range of $60.00 to $163.66
$5,000 - $9,999 The monthly payment will be in the range of $108.73 to $217.40
$10,000 - $19,999 The monthly payment will be in the range of $157.08 to $314.15
$20,000 - $29,999 The monthly payment will be in the range of $275.44 to $413..24
$30,000 - $39,999 The monthly payment will be $376.07 to $501.41
$40,000 - $59,999 The monthly payment will be in the range of $467.62 to $701.42
$60,000 + The monthly payment will be in the range of $681.96 or higher
Side Ring Auction - Terms of Sale:
The "Side Ring Reverse Auction" is a separate auction ring where the subsequently listed 20 properties will be available for purchase on a first come, first serve basis. The Side Ring properties each have Built-In Financing consisting of a Down payment (of as little as $100 to $500 USD) plus a built in loan. If you buy such a property all you have to pay is the very low down payment and we carry the balance.
NOTE: Instead of prices going up in the side ring, the prices will actually go down.
All Parcels listed in the Side Ring can be purchased at the published listed price starting on the date that this auction catalog is published on the webpage www.sunnyland.com (approx. 4 weeks prior to auction day). Since prices of these properties fall = change every week, the initial sale price of these properties is not listed in this catalog but only accessible on the webpage www.sunnyland.com or by calling us at 1-866-SUNNYLAND (786-6952).
That means that starting at the moment the properties are released on our webpage www.sunnyland.com you can act and purchase one or many of these properties.
AUCTION DAY SALES:
In addition, on Auction day, at the opening of the auction, each property will be listed at the lowest published Purchase price (from our webpage www.sunnyland.com). Each 60 minutes the purchase price of each property listed in this side ring will go down again by a set Dollar amount (usually between $250.00 and $2,000.00). Just as before the auction day, all interested parties can at any time step in and purchase any property at the purchase price and terms listed at that particular moment.
As a result YOU as the bidder will have the choice of acting NOW and securing the property or waiting another hour until prices will go down again, but incurring the risk of someone else purchasing the property before you do. This Side ring auction will run for a total of 4 weeks plus 4 hours and will end with a last hourly reduction of the purchase price starting on auction day at 10:00 AM and ending at 1:59 pm.
At Any time, once a buyer decides to purchase a property on the side ring, the Buyer will need to immediately notify the Sunnyland.com auction team (in person on auction day or by email or phone prior to auction day) After submitting the down payment and signing the necessary documentation, the winning bidder will then pay down the loan in monthly installment payments. The Built-In Loan can be paid off early at any time, without pre-payment penalty. The property can also be purchased for cash without taking advantage of the financing option.
Example for Auction day:
At 10:00 AM on auction day, a "Side Ring Property" is listed with a Built-In Loan of $4,000.00 at an interest rate of 13.5% with a monthly payment of $142.76 over 36 months (3 years). The bidding for the down payment begins at $100.00. If nobody has purchased this property after one hour’s time, at 11:00 AM the property purchase price will drop to $3,500 and with that the monthly payment will drop too. This will continue until bidding closes at 1:59 PM or until a buyer purchases the property.
Online Bidding Terms of Sale:
Online bidding will be made available for the Main Ring Live Auction properties only (Properties 1 - 150), in conjunction with the live audience bidding. Online Bidding will be available through www.eBayliveauctions.com (eBay's Live Online Auction Company). Each property's listing on www.Sunnyland.com will contain a link to the eBay Live Auction listing for that same property.
The high bidder online through www.eBay.com (or www.eBayliveauctions.com) will be charged a Convenience Fee of 5% of the total purchase price. If you register and don't win the bidding, there will not be a 5% charge.
Physical presence is required for participation in the drawing of each FREE HOURLY LAND DRAWING. Online bidders cannot participate in the Prize Drawings performed during the Main Ring Live Auction.
Absentee Bidding:
If you are unable to attend the auction event, you may submit your bid on any number of properties via an Absentee Bid. The Seller will facilitate your request to place an Absentee Bid, providing that you submit all required information within 48 hours prior to the auction. To inquire about placing an Absentee Bid, please contact Sunnyland at 1-866-SUNNYLAND (786-6952). Absentee Bidders will be charged a Convenience Fee of 5% of the high bid amount.
Online absentee Bids ar epossible up to 2 hours prior to bidding via www.ebayliveauctions.com. Please see www.ebayliveauctions.com for details and rules.
Conditions of Sale:
All properties are being sold in an "As Is, Where Is, and with All Faults" condition as of the date of the auction (date of sale). All sales are considered SOLD and FINAL. Buyer understands that Seller will abide by all state disclosure laws and will disclose all known facts regarding the property. Buyer acknowledges that all properties are being sold at public auction (including via online auction for properties 1 - 150) subject to all existing covenants, conditions, restrictions, reservations, exploration and mineral rights, easements, rights of way, assessments, zoning, and all other land use restrictions as there may be on or off record.
Property Inspection:
Inspect The Property Before You Buy!
All bidders must personally inspect each property and its physical condition prior to placing a bid at the auction or via the online auction. All winning bidders will be required to personally sign an affidavit stating that the Bidder has inspected the property and is satisfied with its suitability for the purpose intended, including the availability of utilities and rights of way or the lack thereof. The bidders will further warrante and represent to the Seller and Auctioneer that they will not bid on any lot or parcel that they have not personally visited and physically inspected prior to the auction. Failure of a Buyer to obtain full information about the condition of a property, or to conduct their own on-site or off-site property inspection, will in no way constitute grounds for any claim against the Seller nor the cancellation or adjustment of the sale.
Seller's and Auctioneer's Disclaimer:
Any announcements made on-site on auction day will supersede any oral or written statements made prior to that time. Information contained herein was derived from sources believed to be correct, but is not guaranteed. Seller and Auctioneer does not accept responsibility for information presented. It is the responsibility of the Buyer to determine the accuracy of all measurements and specifications of property. The Auction will be conducted by the Seller in cooperation with a contracted auctioneer.
Closing / Recording Fee and Property taxes:
Closing / Recording Fee:
There is a one-time, non-refundable Closing / Recording Fee of $490.00 per property purchased. This fee covers document transfer fees (for CA Properties) charged by the respective counties, county recording fees of the Real Estate Sale Agreement, the recording fees of the Deed once the property is paid off.
Loan Servicing Fee:
If a property is financed, a monthly loan servicing fee of $12.00 per property will also be included to cover the cost of processing the loan payments by the loan-servicing agency.
Impound Fee/Property Taxes/Association Fees:
If Buyer chooses the financing option, Seller will require that a portion (representing 1/12th) of the annual property taxes be added to the monthly loan payment, plus an additional amount if applicable, for assessments/association fees, etc. The Loan Servicing Agency will be responsible for payment of property taxes on an annual basis. Buyer is responsible for all property taxes due after the date of the auction. Taxes will be prorated such that Seller is responsible for all property taxes due and payable until and including the day of auction.
Early Loan Pre-Payment:
There is NO PRE-PAYMENT PENALTY. Any loan can be paid off at any time without any fees or additional charges.
Late Payment Penalty:
A $25.00 fee is due from Buyer to Seller for any monthly payment that becomes more than 10 days delinquent. A charge of $25.00 is due for any check that is returned by the payer's bank and the same $25.00 fee is due in case the payment is made by Credit Card and the card charge is being declined.
Down Payment Requirements for Financing:
At the time a property is declared "SOLD" by the Auctioneer, the winning bidder will immediately be escorted to the closing area. At the time of sale, the winning bidders must have in their possession all down payment and closing funds required to complete the purchase. The successful Buyer will be required to deposit twenty percent (25%) of the high bid as a non-refundable down payment immediately after being declared the Buyer.
The first $500.00 dollars of the Down Payment must be in the form of Cash or Certified Funds (Cashier's Check or Money Orders made payable to the Bidder). Any funds due in addition can be paid in the form of a Credit Card (Master Card, VISA, American Express, DISCOVER) or by Personal Check (subject to approval and two valid forms of State Identification, one of which must be a valid State ID). For Online Bidders only we will also accept PayPal as a valid form of Down Payment.
Paying more than the required 25% Down Payment or $1,000.00, whichever is greater, is acceptable. The Buyer needs to inform the Closing Agent at time of purchase of such intent. Any increase in Down Payment needs to be in increments of $100.00. Submission of a larger than required Down Payment will reduce the amount of the monthly payment. The length of the loan term (time to pay off the loan) will remain as stated in the above "Length of Loan Term" table.
Note: The monthly loan installment payments can be made using any of the above stated forms of payment. This includes automated Credit Card authorizations.
Cash Purchase Requirements:
When intending to purchase a property in full (for "Cash") on the day of the auction, the winning bidder must be in possession of all funds necessary to pay the full purchase amount including the $490.00 Closing / Recording Fee.
At the time a property is declared "SOLD" by the Auctioneer, the winning bidders will immediately be escorted to the closing area. The successful Buyer will be required to make payment of the Purchase Price IN FULL immediately after being declared the Buyer. The first $500.00 of the Purchase Price must be in the form of Cash or Certified Funds (Cashier's Check or Money Order made payable to the Bidder). The balance of the Purchase Price can be paid in the form of Cash, Cashier's Check, Money Order, Credit Card (Master Card, VISA, American Express, DISCOVER) or by Personal Check (subject to approval and two valid forms of State Identification one of which must be a valid State ID). For Online Bidders only we will also accept PayPal as a valid form of payment.
Multiple Property Purchase:
Each bidder can bid on and purchase as many properties as desired. However, only three (3) properties can be purchased with seller financing. Any properties purchased in excess of three (3) must be all-cash purchases.
Purchase / Sale Contract:
All properties will be sold on a Real Estate Sale Agreement (CONTRACT FOR DEED) which upon request will be recorded with the County Official (Recorder/Clerk) of the county in which the property is located. Where required by law, an Affidavit of Property Disclosure will also be recorded, along with the Real Estate Sale Agreement and/or Deed. The Affidavits of Property Disclosure will be available to the public through this website.
Buyers cannot assign a contract to a third party.
Ownership Transfer:
Unless otherwise stated, once the loan is paid off, the Seller will convey ownership to properties using a "Special Warranty Deed" (or for properties located in California a "Grant Deed").
Seller will not issue title insurance for the property and acquiring title insurance is solely up to the Buyer after ownership transfer has occurred. Deed will be recorded in accordance with the Purchase Contract with the county where the property is located. County officials will be advised to return the Deed to Buyer after completion of recording procedures. Seller will not provide escrow or title insurance.
Instead, Seller will honor the following five Seller Guarantees.
Seller Guarantees:
Seller guarantees that:
At the time of sale (auction date) the property is free and clear from liens other than recurring assessments and bonds and that the property has marketable title.
The pictures displayed on www.Sunnyland.com and corresponding property description for each particular property describes Seller's opinion of the property condition and/or property area based upon Seller's visit to the property and/or property area.
At the time of the sale, the properties do not have any delinquent taxes due.
Land Sale Agreement (Contract for Deed) for each parcel will upon request be recorded with the appropriate county office promptly and within a reasonable timeframe after the auction.
Any Affidavits of Disclosure or other Seller property disclosure statements have been made to the best of the Seller's knowledge.
Seller and Auctioneer do not guarantee:
The property boundaries and corner markers to be accurate since they have been identified only by the location of the surrounding corner markers. The exact property boundaries and locations can only be identified by an official property survey.
Suitability of property for building site. Some property encumbrances can only be identified by a detailed expert inspection of a property. Unless otherwise stated, Sellers are unaware of such encumbrances.
Availability of municipal water or water via a private well. All Bidders are urged to contact local municipal planning and zoning departments or the State Department of Water Resources for information on water availability and local municipal development departments for future water availability plans.
Availability of Utilities. Contact the local utility company for information on availability, cost and future development plans for extending electric and telephone lines to the property.
Feasibility to place a "standard" septic system on the property. Seller has not engaged in any kind of soil or percolation testing. Some properties might require the installation of an "alternative" (i.e. Hydraulic, Sand Filtered, or Mounted, to name a few) septic system. Unless otherwise stated, Seller is unaware of such conditions.
Physical or legal road access or lack thereof. Seller is unaware of such encumbrances unless specifically stated in the individual property listing. Some parcels might be "land-locked."
That any roads existing on third party maps (amongst them but not limited to: County Maps, www.mapquest.com, Delorme Streetfinder, MapUSA, etc.) actually exist. All maps were provided by the Sellers and were provided for information and orientation purposes only. No liability is assumed for the accuracy of the data delineated thereon.
Any zoning restrictions, building codes, permit requirements or any other land use restrictions. Contact local municipal Planning and Zoning Departments or affiliated Departments (like Building and Public Safety Department) of the municipality or county in which the property is located.
The existence of Mineral Rights for the property. Unless otherwise stated for a particular auction property, Buyer should assume that No Mineral Rights come with the property (since the vast majority of all properties in Arizona come without Mineral Rights). Contact appropriate local authorities for clarification on Mineral Rights on a particular property you are interested in.
Existence of Homeowners Association Fees, local or regional Bonds for Utilities, Water, Sewer, and street improvement. Unless otherwise stated for a property, Seller is unaware of such assessments.
Directions to properties. Directions to properties are provided for orientation purposes only and Seller does not guarantee the accuracy of such directions.
Affidavit of Contract Termination - Right of Rescission
Breach of Seller Guarantees:
If after the close of the Sale (Cash or Financed) a breach in any one of the five Seller Guarantees issued by the Seller is discovered, the possible actions will be limited to one of the following two options to be determined by the Seller(s):
The Land Sale Agreement may be cancelled and all funds paid, including all fees, will be returned to the buyer. In turn the buyer agrees to sign an "Affidavit of Contract Resolution" which will be recorded with the County Recorder/Clerk in the county in which the property is located.
Seller can also choose to cure the defect at Seller's expense.
If the Deed had already been conveyed to the Buyer before the breach was discovered and Buyer and Seller agree to rescind the ownership transfer, the Buyer shall execute and deliver ownership and possession of the property in question back to the Seller via Warranty deed. Property shall be re-conveyed to Seller in same condition as it was received.
Guarantees do not extend to any party other than the Seller and the Buyer at auction and do not extend to any third parties.
All contents of this Auction Catalog are copyrighted 2005 by Sunnyland.com. Contents may not be reprinted, copied, reproduced, or used without written permission of owner.
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