AUCTION TERMS AND CONDITIONS

Please PERSONALLY inspect the properties you are considering bidding on. Nothing replaces looking at a piece of land in person. Everyone has different expectations for the land of their dreams. A property that may be perfect for one person might not be ideal for another. Properties located in the same general area can be substantially different in character from each other (vegetation, terrain, views, road access, access to utilities, etc.). We strongly advise you to take the initiative and look at the property prior to bidding. As a matter of fact, you are required to sign a document stating that you have indeed inspected the property. We also suggest you compare the prices of similar properties in the area to make sure you agree we are offering great deals.

AUCTION REGISTRATION:

Auction registration is free. All bidders must register at www.landauctiondeals.com prior to being allowed to bid on any properties. When registering, a credit card number will be required. Your credit card will ONLY be charged if you are the winning bidder.

GENERAL AUCTION TERMS:

This auction will be a live and public auction to be held ONLINE with bidding to be done in real time all virtually from your computer. All 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 - $2,000.00). While many auction properties are being sold ABSOLUTE to the highest bidder, some properties have a hidden reserve and are subject to the seller’s acceptance of the high bid.

TERMS OF SALE:

All parcels are being sold 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 12.9%. A low down payment of 20% of the winning high bid (or $1,000.00, whichever is greater) is required immediately after each individual property auction ends. There is no pre-payment penalty for early loan payoffs. All parcels sold at auction can also be paid in full through the title company of seller’s choice.

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:

If the financed loan amount is:	Length of Loan Term will be:
$1 - $1,000	Must be paid in full at time of purchase (on auction day)
1,001 - $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 previous 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 20% cash down payment on auction day and an interest rate of 12.9%).

If the financed loan amount is:	Estimated Monthly Payment will be:
$1,001 - $4,999	The monthly payment will be in the range of $60.00 - $163.66
$5,000 - $9,999	The monthly payment will be in the range of $108.73 - $217.40
$10,000 - $19,999	The monthly payment will be in the range of $157.08 - $314.15
$20,000 - $29,999	The monthly payment will be in the range of $275.50 - $413.24
$30,000 - $39,999	The monthly payment will be in the range of $376.07 - $501.41
$40,000 - $59,999	The monthly payment will be in the range of $467.62 - $701.42
$60,000 +	The monthly payment will be in the range of $681.96 or higher

ONLINE BIDDING INFORMATION:

Credit cards are required to bid. You will be required to register your credit when you register online. Your card will NOT be charged unless you are the winning bidder.

A winning bid is a legally binding agreement. Successful bidders are required to pay 20% of the winning bid amount or $1,000, whichever is greater, at bidding close. Remaining balance will be paid through a title company. All major credit cards are accepted.

All sales are final. There will be no refunds or exchanges. All bidders are strongly encouraged to visit the property prior to attending the 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 Bidder. The Broker 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 Sarah Pinger at 602-726-4177.

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 bidders acknowledges and agrees that Seller has not made, does not make and specifically negates and disclaims any representations, warranties, promises, covenants, agreements or guaranties of any kind or character whatsoever, whether express or implied, oral and written, past, present or future, of, as to, concerning or with respect to: (a) the value, nature, quality or condition of the property, including the value, nature, quality or condition of the property, including, without limitation, the water, soil and geology; (b) the income to be derived from the property; (c) the suitability of the property for any and all activities and uses which the buyer may conduct thereon; (d) the compliance of or by the property or its operation with any laws, rules, ordinances or regulations of any applicable governmental authority or body; (e) the habitability, merchantability, marketability, profitability or fitness for a particular purpose of the property; (f) the manner or quality of the construction or materials, if any, incorporated into the property; (g) the manner, quality, state of repair or lack of repair of the property; and (h) any other matter with respect to the property, and specifically, that Seller has not made, does not make, and specifically disclaims any representations regarding compliance with any environmental protection, pollution or land use laws, rules, regulations, orders or requirements. Buyer acknowledges that all properties are being sold at public auction 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.

RELEASE OF SELLERS

Buyer and anyone claiming by through or under Buyer hereby fully and irrevocably releases Seller, its employees, officers, directors, representatives and agents from any and all claim that it may now have or hereafter acquire against Seller, its employees, officers, directors, representatives and agents for any cost, loss, liability, damage, expense, demand, action or cause of action arising from or related to any construction defects, errors, omissions or other conditions, including environmental matters affecting the property.

SELLER DID NOT INSPECT THE PROPERTY:

All bidders hereby acknowledges that Seller has not inspected the property and has no personal, firsthand information concerning the property. All bidders hereby acknowledges that Seller has disclosed all known facts regarding the property, but also acknowledge the Seller’s actual knowledge of the property may be limited in nature. All bidders acknowledge that Seller has made no independent investigation into (a) the value, nature, quality or condition of the property, including the value, nature, quality or condition of the property, including, without limitation, the water, soil and geology; (b) the income to be derived from the property; (c) the compliance of or by the property or its operation with any laws, rules, ordinances or regulations of any applicable governmental authority or body; or (d) the habitability, merchantability, marketability, profitability or fitness for a particular purpose of the property.

PROPERTY INSPECTION: INSPECT THE PROPERTY BEFORE YOU BUY!!

All bidders will be required to personally sign an affidavit that acknowledges, warrants, and represents to the seller that the bidder has inspected each lot or parcel on which they intend to bid. The bidders further warrant and represent to the seller 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 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 DICLAIMER:

Any announcements made 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/or auctioneer do not accept responsibility for information presented. It is the responsibility of the buyer to determine the accuracy of all measurements and specifications of property.

CLOSING FEE, RECORDING FEE AND PROPERTY TAXES:

Closing / Recording Fee: There is a one-time, non-refundable Document Preparation and Recording Fee of $500.00 per property purchased. This fee covers document transfer fees charged by the respective counties, cost of closing, county recording fees of the Real Estate Sale Agreement, as well as the recording fees of the Deed once the property is paid off. The Document Preparation and recording fee applies to each property purchased, even if the buyer purchases more than one property.
Loan Servicing Fee: If a property is financed, a monthly loan servicing fee of $25.00 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. Seller 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 the auction.
Early Loan Pre-Payment: Early Loan Pre-Payment:
Late Payment Penalty: A $35.00 fee is due from buyer to seller for any monthly payment that is more than 10 days delinquent. A $35.00 charge is due for any check returned by the payer’s bank.

DOWN PAYMENT REQUIREMENTS FOR FINANCING:

At the time a property is declared “SOLD” by the auctioneer, the successful buyer’s credit card, which was given at registration, will be charged twenty percent (20%) of the high bid or $1,000.00 (whichever is greater) as a non-refundable down payment (Subject to the respective property state laws regulating Rights of Rescission).

Paying more than the required Down Payment is acceptable. The buyer will need to contact Sarah Pinger at 602-726-4177 to arrange payment of additional down payment after the auction has been completed. 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 will be paid directly to a third party note servicing company.

CASH PURCHASE REQUIREMENTS:

When intending to purchase a property in full (for “Cash”) on the day of the auction, the winning bidder must be prepared to pay the 20% down payment or $1,000.00, whichever is greater, by the credit card given at registration as well as the $500.00 Document Preparation and Recording Fee.

At the time a property is declared “SOLD” by the Auctioneer, the credit card will be charged as stated above. The remaining balance due will be paid by cashier’s check or money order through the title company selected by the seller.

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 unless an exception is granted by the seller.

PURCHASE / SALE CONTRACT:

All properties will be sold on a Real Estate Sale Agreement (CONTRACT FOR DEED) which upon request can 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 www.landauctiondeals.com. Buyer cannot assign a contract to a third party.

COMMISSIONS

Seller agrees to cooperate with any licensed agents but will not pay any compensation to any buyer’s agent. Should the buyer wish to use a licensed real estate agent for assistance in the sale transaction, the buyer will be responsible for any fees charged by their agent. If any other person asserts a claim to a finder’s fee, brokerage commission or other compensation on account of alleged employment as a finder or broker or performance of services on behalf of buyer in this transaction, buyer will indemnify, defend and hold the seller harmless for, from, and against any such claims. This indemnity will survive the Closing or any cancellation of this Agreement.

OWNERSHIP TRANSFER:

Unless otherwise stated, once the loan is paid off, the seller will convey ownership to properties using a “Special Warranty Deed” or “Grant and Bargain Deed”, depending on the state a property is located.

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. 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 all known and recorded liens (other than recurring assessments and bonds).
The pictures or videos displayed on www.landauctiondeals.com and corresponding property description for each particular property describes the Seller’s opinion of the property and property condition and/or property area based upon Seller’s visit to the property and/or property area but are not guaranteed to be the pictures of the actual property. In some cases, aerial pictures were used to show the property instead of a physical property visit by the sellers.
At the time of the sale, the properties do not have any delinquent taxes due or if such taxes exist the seller is committing to paying those off during the sale process.
At the time of the sale, the properties do not have any delinquent taxes due or if such taxes exist the seller is committing to paying those off during the sale process.
Any Affidavits of Disclosure or other Seller property disclosure statements have been made to the best of the Seller’s knowledge.

www.landauctiondeals.com

SELLER AND AUCTIONEER DO NOT GUARANTEE:

The property boundaries, size, and corner markers to be accurate since they have been identified only by the location of the surrounding corner markers. The exact property boundaries, size 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, Seller is 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 and does not guarantee that soil is sufficiently conditioned for installation of a “standard septic system.” Some properties might require the installation of an “alternative” (i.e. Hydraulic, Sand Filtered, or Mounted, to name a few) septic systems. Unless otherwise stated, seller is unaware of soil 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.”
Accuracy and existence of pictures, videos, as well as roads on third party maps (amongst them but not limited to: County Maps, www.maps.google.com, google earth, County GIS websites, etc.). All maps, pictures, and videos provided by the sellers are for information and orientation purposes only and are not guaranteed to be of the actual property, but in some cases can be of the general area around the property for sale. 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 property, buyer should assume that No Mineral Rights come with the property (since the vast majority of all properties sold in the USA come without Mineral Rights). Contact appropriate local authorities for clarification on Mineral Rights on a particular property that 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.

BREACH OF SELLER’S 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 Real Estate Sale Agreement may be canceled, 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 choose to cure the defect at the Seller’s expense.

If the Deed has 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 “Grant and Bargain Deed” or “Warranty Deed” (depending on the state the property is located). Property shall be re-conveyed to seller in same condition it was received.

Guarantees do not extend to any party other than the seller and the buyer at the auction and do not extend to any third parties.

AGENCY:

BUYER ACKNOWLEDGES THAT BUYER HAS NOT BEEN REPRESENTED BY SELLER, OR BY ANY REPRESENTATIVE OF SELLER INCLUDING ORBIT INVESTMENTS, LLC, AND ITS LICENSEES INCLUDNING BUT NOT LIMITED TO MS. SARAH PINGER AND MR. JOACHIM BOSCH, WITH RESPECT TO THIS TRANSACTION. BUYER AGREES AND UNDERSTANDS THAT THE SELLER AND ITS REPRESENTATIVES ARE NOT ACTING AS BUYER’S AGENT IN THIS TRANSACTION AND HAS BEEN ACTING SOLELY FOR SELLER’S OWN BENEFIT. BUYER AGREES TO HOLD SELLER FREE FROM ANY AND ALL LIABILITY REGARDING THIS TRANSACTION AND ANY PROPERTY PURCHASED ARISING FROM ANY CLAIM OF AGENCY. BUYER ACKNOWLEDGES THAT SELLER IS NOT ACTING AS A LENDER IN THIS TRANSACTION AND THIS TRANSACTION DOES NOT INVOLVE THE LOAN OF ANY MONEY BY SELLER TO BUYER.

REAL ESTATE LICENSEE INVOLVEMENT:

BUYER ACKNOWLEDGES THAT PRINCIPALS OF SELLER HOLD AN ARIZONA REAL ESTATE LICENSE. BUYER IS AWARE AND SELLER DISCLOSES THAT CERTAIN PRINCIPALS OF SELLER HAVE A FINANCIAL INTEREST IN THE TRANSACTION OTHER THAN THE RECEIPT OF COMPENSATION FOR REAL ESTATE SERVICES. BUYER ACKNOWLEDGES THAT THE SELLER’S REAL ESTATE BROKERAGE COMPANY MAY OWN PROPERTIES BEING SOLD IN THE AUCTION AND THAT WHEN SUCH OWNERSHIP EXISTS THE SELLER’S REAL ESTATE BROKERAGE COMPANY IS ACTING AS A PRINCIPAL AND PRINCIPALS OF SELLER’S REAL ESTATE BROKERAGE COMPANY HAVE A FINANCIAL INTEREST IN THE TRANSACTION OTHER THAN THE RECEIPT OF COMPENSATION FOR REAL ESTATE SERVICES.