REAL ESTATE TERMS AND CONDITIONS – ONLINE ONLY

Online Start Time 7pm EST, Sept. 5, 2015

Estimated Online End Time 7pm EST,Sept. 26, 2015

For Property located at: 2106 Calhoun Falls Hwy, Elberton, Georgia 30635

By Registering You Acknowledge: That registering to bid on this property, Bidder acknowledges he/she has read, understands, and will abide by all Terms and Conditions of the Auction and the Real Estate Sales Contract. By bidding you confirm you have inspected the property or have had the opportunity to inspect and chose not to inspect the property. Purchaser is relying solely on his/her own inspection and judgment and not on any representation, warranties, or guarantees made by Seller, or Auctioneer in purchasing the property.

 Buyer’s Premium: A buyer’s premium of ten percent (10%) will be added to the bid price to determine the final contract price. This Auction is a cash sale not contingent on or subject to financing, appraisal,, survey, or inspections of any kind.

 Bidding: All bids are irrevocable. Conduct of the Auction and increments of the bidding are at the sole discretion of the Auctioneer. Auctioneer has the sole authority to resolve any bidding disputes as they may arise. Auctioneer reserves the right to remove or cancel the bids and/or bidding privileges of any bidder at any time deemed not to be in the best interest of the Seller. At the sole authority of the Auctioneer, the property is subject to presale and/or withdrawal at any time before or during the Auction. Williamson Bros. Realty & Auction Co., Inc. online real estate auctions are timed events and subject to extended bidding due to bidding activity. Internet bidder is encouraged to use the maximum bidding feature and leave bidder’s maximum bid at least 24 hours before the estimated end time of the Auction. Auctioneer reserves the right to adjust the auto extension time period. Auctioneer may bid on behalf of Seller, Customers,.and/or self.

 Notification of Successful Bid: Upon conclusion of the Auction, Purchaser will be notified by email. The email notification will contain the contract package. Within twenty-four (24) hours from sent time/date of email notification, Purchaser shall execute and return the contract and shall wire earnest money deposit in the amount of $10,000. Wiring instructions will be included in the contract. Time is of the essence. Earnest money will be deposited in Auctioneers Escrow Account and credited to Purchaser at closing. If the Purchaser does not close this transaction and the Seller has fulfilled all Seller responsibilities, then the earnest money will be retained by Auctioneer and disbursed according to the listing contract between the Seller and Auctioneer. Additional default remedies are reserved by Williamson Bros. Realty & Auction Co., Inc. and the Seller. The entirety of the remaining balance including all closing costs associated with this transaction is due at closing. Purchaser shall be responsible for all wire transfer fees. Purchaser not executing and returning their contract with earnest money deposit within twenty-four (24) hours of notification will be considered in default and subject to an Administrative Fee. Administrative Fee of $2,500 will be applied to the credit card provided by Purchaser at Auction registration. Additional default remedies are reserved by Williamson Bros. Realty & Auction Co., Inc. and the Seller. All Administrative Fees are non-refundable. All credit card transactions are indisputable.

 Closing: This transaction shall be closed within thirty (30) days of notification by Auctioneer to Purchaser that signed contracts and earnest money has been received. If needed, Seller can extend the contract for an additional sixty (60) days to correct and/or satisfy any issues that prevent Seller from closing. Upon expiration of extension, if Seller cannot close, Purchaser will receive full refund of earnest money. Seller and Purchaser agree that this sale will be closed by the law firm of Cook Noell Tolley & Bates LLP. The closing attorney will charge the Purchaser a closing fee of $450 in attorney fees plus $150 Title exam. These fees include conducting the closing, collecting and disbursing the funds and preparing the closing statement. If the Purchaser wants a Title Opinion or other services, the closing attorney will provide them for additional fees. The Seller will pay for the preparation of deed only. The Purchaser will pay all other closing costs associated with this sale including, but not limited to, recording, transfer tax, documentary stamps, financing expense, intangible taxes, title fees, title insurance, appraisals and inspection reports. Ad Valorem taxes will be prorated between Seller and Purchaser as of date of closing. Possession of the property will be granted to the Purchaser as of the date of closing. The property is sold free and clear of all liens and encumbrances except deed restrictions, covenants, utilities easements, and government regulations. There is no personal property conveyed in this contract.

 Agency Disclosure: In this transaction, Williamson Bros. Realty & Auction Co., Inc. is acting as Agent for the Seller, not as Buyer’s Agent.

 Disclaimer: The property is being sold “AS-IS, WHERE-IS with all faults, with no warranties expressed or implied”. The Purchaser has had the opportunity to inspect the property and is relying on Purchaser’s own judgment and inspection in purchasing this property. Seller and/or its Agents do not guarantee availability of utilities and/or right of occupancy. Seller has no reports or knowledge of lead-based paint and/or lead-based paint hazards in the property. Buyer waives the opportunity to conduct a risk assessment or an inspection of lead-based paint and/or lead-based paint hazards. All information provided is subject to inspection and verification by bidders, and it is the responsibility of bidders to determine its accuracy and completeness. The Seller and its Agents assume no responsibility and/or liability for inaccuracy, errors or omissions. All square footage, dimensions, boundaries and taxes given written or verbally are approximations. All information given verbally or written is believed to be true, but is not warranted.

 Brokerage Participation: Broker must submit Broker Registration Form no later than forty-eight (48) hours prior to the published end time/date of the Online Auction by emailing to [email protected]. See Broker Registration Form for Terms & Conditions for Broker participation.

 Additional Terms and Conditions:

* Upon closing, ownership of any and all personal property remaining on the property will convey to the Purchaser at no cost, penalty or liability to the Seller and/or its Agents.

* Please log in prior to the published end time/date to inspect any changes, corrections or additions to the property information, Terms and Conditions and/or Real Estate Sales Contract.

* All participants acknowledge that an auction site is potentially dangerous. Every person enters the property at his or her own risk and assumes all risks of injury, damage, or loss property and specifically releases Williamson Bros. Realty & Auction Co., Inc., Seller and its agents from liability.

* All participants agree that Williamson Bros. Realty & Auction Co., Inc., the Seller, and its agents will not be liable for malfunctions, shutdowns or loss of service in facilitating online bidding. Online bidders acknowledge and understand that their bid is not official until notification is received from Auctioneer declaring them as Purchaser of subject property. Internet bidder is encouraged to use the maximum bidding feature and leave bidder’s maximum bid at least 24 hours before the estimated end time of the Auction.

* Venue and jurisdiction of all disputes which may arise by virtue of this Auction sale or stemming from this Auction sale shall be in the Courts of Clarke County, Georgia.