Red Mountain Rossland, BC

PROCEDURES & TERMS

1. All bidders and others attending the Auction agree that they have read and fully understand these terms and agree to be bound thereby.  These terms are in addition to any other posted information, if any.

1. Registration for the Real Estate Auction will begin at 1 pm the day of sale at the Property Unit # 401 – Morningstar @ Red Mountain, Rossland, B.C.  Anyone interested in bidding must register prior to the Auction and obtain a bidding card.  A bank draft or Certified Cheque in the amount of $10,000.00 made out to Able Realty Corp “In Trust” is required to register, to be returned immediately after the event if you are not the successful bidder.There is no charge for registering.

1. All announcements by the Auctioneer and/or the Seller at commencement if the Auction will take precedence over any previously printed material or any other oral statements made by anyone employed by, representing, or associated with the Auctioneers.

1. Questions will be entertained only prior to the commencement of the Auction proceedings.  Please see a bid assistant for questions during the sale itself.

1. If any dispute arises between and among bidders, the decision of the Auctioneer shall be final and absolute.

1. The Auctioneers reserve the right to reject any or all bids and reserve the right to bid on behalf of an absentee bidder.  The existence of absentee bidders, if any, will be disclosed at the beginning of the auction.

1. Agency: the Buyer acknowledges that the Auctioneer represents the Seller and that participating at the auction does not constitute a relationship of dual agency.

1. Broker Participation:  A commission will be paid by the Auction Company to the licensed Real Estate Broker whose prospect successfully closes on the property.  The Broker/Agent must call for and complete a Memorandum of Understanding prior to the published viewing date(s), which are available through the Auctioneers New Westminster office at (604) 526-9998

1. Closing Costs: The Buyer will incur all standard closing costs, as would be the case through any Purchase of Real Estate in the Province of British Columbia.

1. Pre-Auction Offers: Under the Real Estate and Business Brokers Act, Able Realty Corp. is legally bound to bring forth any and all offers to the Seller at any time they are presented.  Although we endeavor not to encourage pre-auction offers unless they are exceptional, we are obligated to present all offers made, regardless of when, or how, or from whom they arrive.  If a pre-auction offer is drafted by any party it must provide for a 48-hour irrevocable period. The terms of all pre-auction offers will become public information and be immediately disclosed to all interested parties who had expressed intent to bid on the property at the auction.  Although an auction event is always the intent of an Able Realty Corp’s auction listing, the ultimate goal is to sell the property for a price satisfactory to the Seller.  If the property is sold by the Seller prior to the auction, the Auctioneers will provide appropriate notice to those parties who expressed intent to bid.