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Real Estate Auction Terms & Conditions

United Country Real Estate – Arizona Property & Auction is pleased to offer a commercial property known as “Papa’s Place” located at 19150 E. Copper Star Rd, Cortes Lakes, AZ 86333. 

Agency Disclosure:  United Country Real Estate – Arizona Property & Auction (“United Country”) is agent of the Seller.  You can expect the real estate professionals from United Country to be helpful and honest to all parties.

Auction Date and Location:  This property will be offered at online only auction starting Thursday, April 19 with the bids closing on Wednesday, April 20, 2018 at 5:00pm (Arizona).  To register to bid online, please visit www.UnitedCountryAZ.com, click on the “AZ COMMERCIAL BUILDING AUCTION” and then click on the green “Bidding Open” link.  After registering, United Country will review and approve your bidder registration to allow you to bid.  Online Bidding Disclaimer:  Under no circumstances shall Bidder have any kind of claim against United Country or anyone else if the internet service fails to work correctly before or during the auction.

Bid Acceptance:  The real estate is being offered will be offered sold to the highest bidder at a minimum opening bid of $84,000.  Winning bidder will complete and sign the Real Estate Purchase Contract immediately upon being declared the winning bidder by the Auctioneer. 

Bidder & Property Information:  Bidder and property information has been prepared to help you in evaluating and bidding on the property.  All information is available online at www.UnitedCountryAZ.com.

Buyer Agent Participation:  A commission of 3% of the winning high bid will be paid to the licensed real estate broker/agent whose Buyer client closes escrow on the property.  To qualify, the broker/agent must register their Buyer client and abide by all terms of the Buyer Agent Registration Form (available at www.UnitedCountryAZ.com) which must be received and acknowledged by the auction company by the stated deadline prior to the auction event closing.

Buyer’s Premium:  A ten-percent (10%) Buyer's Premium (auction fee) will be added to the final bid price to establish the contract sale price. 

Caveat Emptor: “Let the Buyer beware” that while every effort is made by the Auctioneer and Broker to provide accurate information, it does not accept responsibility for information presented.  It is the responsibility of the Buyer and/or the Buyer’s Broker/Agent to verify the accuracy of all information presented and conduct its own independent inspections, investigation and due diligence concerning the property to its satisfaction.  When in doubt, check it out.  Property sells “As-Is” with no warranties expressed or implied by the Seller.  Property included in the sale is the real estate and improvements. 

Closing:  The balance of the Purchase Price (which includes the Buyer's Premium) is be due via a wire transfer or certified funds to the title company on or before Friday, May 25, 2018, which is the date of closing. 

Contingencies:  The final high bid on the property is irrevocable.  The purchase IS NOT contingent upon financing nor appraisal, so be prepared to pay cash at closing or have arranged your financing prior to bidding.   The purchase IS NOT contingent upon inspections post auction, so be sure you thoroughly inspect the property and obtain any information important to you prior to bidding.

Directions:  From Phoenix, go north on Interstate 17 (I-17) to Arcosanti Rd in Cordes Lakes.  Take the Arcosanti Rd/EXIT 263 exit from I-17.  Go west on Arcosanti Rd to Copper Star Rd.  

Earnest Money Deposit:  Upon the conclusion of the auction, the winning high bidder will be required to make a NON-REUNDABLE Earnest Money Deposit of at least ten-percent (10%) of the total contract price.   The balance of the Earnest Money Deposit is payable personal check, business check or bank wire to the title company by close of escrow.

Miscellaneous:  Any announcements made on auction day take precedent and override all prior marketing or website statements.  The decision of Auctioneer is final regarding all matters that arise before, during, and after the Auction.  Auctioneer’s discretion includes, but is not limited to, the auction method, bid-calling, bid increments, and determining the buyer.  Unless otherwise disclosed, Seller may not bid on the Property.  Bidder will not retract any bid.  The exclusive jurisdiction and venue for any controversy or claim will be Maricopa County, Arizona. 

Personal Property:  There is no personal property being offered at this auction event.

Possession:  Possession will be given at closing.

Pre-Auction Offers:  The auction is subject to prior sale and pre-auction offers are welcome.  The Seller reserves the right to cancel the auction at any time prior to the closing of the auction. 

Property Previews and Inspection:  Join us at the property for preview and inspection from 11am to 1pm at the below listed dates.  Learn about the auction bidding process, tour the property, and get your questions answered.  Open these dates from 11am to 1pm:

Monday, April 16

Thursday, April 19

Monday, April 23

Purchase Contract:  Bidder should carefully read and understand the Real Estate Purchase Contract before bidding at the auction, a copy of which is available for download at www.UnitedCountryAZ.com.  The Property will be offered subject to the terms of the Purchase Contract, which is not negotiable, and no addition, deletion or revision will be permitted.

Seller Financing:  Seller Financing is available with terms of 25% down, 7% interest, 20-year amortization with a 3-year balloon.  Account servicing through an account servicing agent at the Buyer’s expense. 

Title Company:  Driggs Title Agency will act as the escrow agent and provide the Buyer with an Owner’s Title Insurance Policy at the Seller’s expense providing the Buyer with good and clear title.  The property will be conveyed by a Special Warranty Deed.  Real estate taxes will be prorated to the day of closing.  Escrow fee will be split evenly between Seller and Buyer.  Seller will pay its customary closing fees with all other fees payable by the Buyer.  Carol Paolo (480-422-7581, carolp@driggstitle.com), Senior Escrow Officer at Driggs Title Agency will handle the escrow and closing process.

Carol Paolo

Senior Escrow Officer

 Driggs Title Agency                                                               

3075 W. Ray Road

Suite 107

Chandler, AZ 85226

480-422-7581 direct phone

480-295-7582 efax

carolp@driggstitle.com

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