TERMS OF SALE

 

AUCTION PROCEDURE: Please Note-There is a change in the auction closing format.  This auction is now staggered/auto extend closing. If a bid is placed in the last 5 minutes of any lot, that lot and the following lots will auto extend on their time.  

Ie.  If Lot 1 auto extends 5 minutes do bidding, Lots 2-8 will extend their closing time 5 minutes.   When Lot 1 closes, then Lot 2 will start its 5-minute closing countdown.   If Lot 2 auto extends, then it bounces Lots 3-8, 5 minutes each on their closing time.  That follows suit until all Lots are closed.  Please contact Chuck Yarbro at 509.760.3789 or Jeffery Holm at 509.361.4273 for more information.   

 REGISTRATION: Registration is required prior to bidding and is a three or four step process, depending on if you have an account or not.  On yarbro.com John Thomason Estate Page, please download and read the Washington State Law of Real Estate Agency if you are successful bidder, as per Washington State Law, buyer will be required to initial the front page it has been read.  If you so not have an account on yarbro.com, please click Create Account on top right of page. If you have an account with us, you can jump to this next step. Please go to the auction webpage and register for auction and accept the terms. Lastly, buyers are required to provide verification of funds (see Proof of Funds below).  For any questions, please contact the auction company at chuckjr@yarbro.com or call our office at 509.765.6869. Buyers are encouraged to pre-register no later than March 15th at 1pm and will be required to provide proof of funds, as stated below, prior to being approved for bidding. Registration can be found online at yarbro.com.  

Excise Tax to be paid by Seller. 

Upon successful bid and execution of purchase contract by 1:20 pm, Thursday, December 22nd, 2022.  Wire instructions will be provided to purchaser(s).

SUCCESSFUL BIDDER(S):  Deposit funds are to be increased to a minimum of 10% of the contract price on auction day. For example, purchase is $30,000. 10% is $2,500 plus $500 for $3,000 total deposit.

FINAL CONTRACT PRICE: A 10% (ten percent) Buyer’s Premium will be added to the high bid to establish the Final Contract Price. The bidder with the high bid will be required to sign and execute a Washington Real Estate Sale Contract at the Final Contract Price. Bidders will need to confirm to their bids and wire Deposit funds by next business day, Friday, March 17th, 2023, by 1:20pm (PST).  In the event financing appraisal does not meet contract price, entire balance is owed at closing. Buyer agrees to pay contract price regardless of appraised value.  

BUYER REPRESENTATION:  Listing brokerage, Chuck Yarbro Auctioneers, Inc. represents the Seller.  Commission agreement is between Seller, auctioneer. 

DEPOSIT: The non-refundable deposit will be wired to the Title Company. Balance of the Final Contract Price due by wire transfer within 30 days from the date of the acceptance of the offer. Deposit funds are non-refundable, upon Seller’s acceptance of Purchase and Sale Contract. Deposit funds will be a minimum of $2,500 upon successful bid delivered by next business day, Friday, March 17th, 2023, by 1:20pm (PST).   

Winning bidder(s) on Grant County Properties will make deposits payable to:

 Dano Law Firm, P.S., 

Jeff Heimark 

102 E Broadway

Moses Lake, WA 

509.765.3483 Office

Winning Bidders on Okanagan Properties will make deposits to:

Baines Title & Escrow 

Agent for Old Republic National Title and First American 
PO Box 626 | 105 N. Second Ave | Okanogan, WA 98840
Tel: (509) 422-3420 Toll Free: (800) 564-3420 Fax (509) 422-1901

Wiring Instructions will be provided to successful bidders.

Mutual acceptance of Purchase and Sale Contracts to be executed Friday, March 17th, 2023, by 1:20pm (PST).  

Property is being sold "As-Is" with No Contingencies; your bidding is not contingent upon financing or any further inspections.

MAPS: Maps, depicted boundaries, and stated acres are approximates based on the Grant County Assessor’s public parcel data, current legal descriptions, and/or aerial mapping software and are not provided as survey products.

SURVEY: No survey.  Purchaser may survey after payment and possession.  

CLOSING/POSSESSION: Purchaser will wire balance with cash at closing. Real Estate Closing shall occur on or before April 21st, 2023, with possession at closing.    

TITLE/TRANSFER: Standard Title Insurance and escrow closing fees apply. Title insurance will be provided by the seller, on a standard title policy, insuring the title on such property to be statutory warranty deed, subject to all matters of record, except for liens that Seller will clear at Closing. A copy of the preliminary title report will be provided prior to close of escrow. Grant County Properties transactions shall close at Dano Law Firm at 100 E Broadway Ave., Moses Lake. Property taxes will be pro-rated as the date of closing.  Okanagan County Transactions will close at Baine Title and Escrow at 105 N Second Ave, Okanogan, Wa Excise Tax to be paid by Seller.

EASEMENTS: Sale of property is subject to all easements, restrictions, roadways, and rights-of-way of record. 

DISCLOSURE: Chuck Yarbro Auctioneers, Inc. represents the Seller exclusively. The property is being sold on an 'AS IS, WHERE IS' basis, with no warranty or representation, expressed, written or implied. Seller and listing brokerage reserve the right to remove any property from the auction or modify the terms in any manner. Each potential bidder is responsible for conducting his/her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information presented on webpage is believed to be accurate but is subject to verification by all parties. 

Neither Seller, Auctioneers, Brokers nor their respective agents, representatives, employees, officers, directors, or shareholders shall be liable for any inaccuracies, errors, or omissions in this brochure or in any related document submitted or delivered in connection herewith. All acreage, dimensions, square footage, and taxes in the brochure are from Public Record and are deemed reliable but are not guaranteed.

Auctioneer reserves the right to change any terms of sale prior to bidding.  Notification will be made to registered bidders only.