TERMS:

REAL ESTATE AUCTION TERMS & CONDITIONS

UNITED COUNTRY REAL ESTATE - ARIZONA PROPERTY & AUCTION and THE LARSEN COMPANY REAL ESTATE AND AUCTION are ordered by the COTTONWOOD CANYON LLC partners to offer for sale 434+/- acres of the historic Carpenter Ranch at live public auction.  Don’t miss this exciting opportunity to bid on pristine Arizona mountain ranch land close to Marana/Tucson but with privacy and amazing views.  This property will be offered at a live auction event with simulcast online bidding to be held at the Hampton Inn & Suites (6300 Marana Center Blvd, Tucson) on THURSDAY, FEBRUARY 16, 2023 AT 12:00 PM (AZ). 

Agency Disclosure:  UNITED COUNTRY REAL ESTATE - ARIZONA PROPERTY & AUCTION  and THE LARSEN COMPANY REAL ESTATE AND AUCTION (collectively “Auctioneer/Broker”) are agents of the Seller.  You can expect the Auctioneer/Broker real estate professionals to be helpful and honest to all parties..

Auction Date and Location:  The live auction with simulcast online bidding will be held at the Hampton Inn & Suites (6300 Marana Center Blvd, Tucson) on THURSDAY, FEBRUARY 16, 2023 AT 12:00 PM (AZ).  

Auction Registration (On-site Bidders):  To register to bid on-site, please bring a photo I.D. and a cashier’s check made payable to TITLE SECURITY AGENCY in the amount of $25,000. The winning high bidder will provide the cashier’s check to the title company’s escrow officer as part of its earnest money deposit.  All non-winning bidders will have their cashier’s check returned to them after the auction.  

Auction Registration (Online Bidders):  In lieu of bidding in person on-site, bidders are welcome to register to bid online.  Please contact the auctioneers for instructions to register as an online bidder.  A $25,000 cashier’s check must be delivered to the Auctioneer/Broker as a requirement for online bidder approval.  All non-winning bidders will have their cashier’s check returned to them after the auction.  

Bid Acceptance:  The real estate is being offered with reserve and is subject to seller confirmation of the winning high bid, unless noted otherwise.  Winning bidder will complete and sign the Real Estate Purchase Contract immediately upon the conclusion of the online auction event.  

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 AZRanchAuction.com. 

Buyer Agent Participation:  A commission 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 AZRanchAuction.com) which must be received and acknowledged by the auction company prior to the auction event.

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/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 due via a wire transfer or certified funds to the title company on or before MONDAY, MARCH 20, 2023, which is the date of closing, or earlier by mutual agreement. 

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 inspection.  All inspections must be done prior to auction day.  Be sure to thoroughly inspect the property and obtain any information deemed important prior to bidding.  The property is being sold, “as-is, where-is”. 

Disclaimers:  Any announcements made on auction day take precedent and override all prior marketing or website statements.  The decision of the 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.  Online Bidding Disclaimer:  Under no circumstances shall Bidder have any kind of claim against the Broker/Auctioneer, or anyone else if the internet service fails to work correctly before or during the auction.

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

Financing:  The purchase IS NOT contingent upon financing nor appraisal, so be prepared to pay cash at closing.

Possession:  Possession will be given at closing.

Pre-Auction Offers:  The auction is subject to prior sale.  The Seller reserves the right to accept a pre-auction offer and/or cancel the auction at any time prior to the opening of the auction.  

Property Preview and Inspections:  Preview and inspection of the property is available on a drive-by basis OR by appointment.  Please contact the Auctioneers before visiting the property.  Please reference the auction listing and maps for each property to determine location.  Contact the Auctioneers with any questions.

Sale 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 AZRanchAuction.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.

Title Insurance + Closing Costs:  An Owner’s Title Insurance policy will be provided at the Seller’s expense providing the Buyer with good and clear title clear of liens, mortgages with no back taxes nor assessments.  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.  All transfer and HOA fees (if applicable) will be paid by the Buyer.

Title and escrow services are provided by:

Lori Schroeder

Commercial/Residential Escrow Officer

Title Security Agency – A First American Company

1840 East River Rd, Suite 200

Tucson, AZ 85718

Office: 520-740-0424  Direct: 520-495-1329  Fax: 520-740-0436

lori.schroeder@titlesecurity.com 

www.titlesecurity.com

Questions?  We are just a phone call or email away!  We want to help you understand the auction process and the property, so you are prepared to bid and buy at auction.  

Happy Bidding!

Stewart Larsen and John Payne – Arizona Real Estate Brokers & Auctioneers

Stewart Larsen | The Larsen Company Real Estate and Auctions

O: 480.844.1221 | C: 480.861.2530 | E: slarsen@thelarsencompany.com 

John Payne | United Country Real Estate – Arizona Property & Auction 

O: 480.422.6800 | C: 602.315.4104 | E: john@UnitedCountryAZ.com​

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