UNITED COUNTRY HENDREN & ASSOCIATES, INC AUCTION TERMS AND CONDITIONS OF SALE

1. Anyone who can meet the conditions of cash at closing with no contingency of the sale is eligible to bid and purchase the property.  This includes any and all auctioneers, Real Estate Agents and Brokers, including family and friends of the Owner, Auctioneer or Real Estate Broker.
2. In all Real Estate Auctions conducted by United Country, United Country represents the Seller in the Real Estate transaction.
3. Real Estate Auction participation is offered on the internet to Absentee bidders.  The absentee bids may be presented live by a representative of United Country up to the Absentee bidder's maximum bid.
4. The successful bidder will be required, upon conclusion of the Auction, to immediately sign an Arkansas Real Estate Purchase Agreement outlining the specific terms and conditions of the sale.
5. The successful bidder will be required, upon conclusion of the Auction to immediately provide good funds/Earnest Money in the form of Cash, Cashiers Check, or Personal Check for 10% of the final bid price.  Check will be deposited immediately into the United Country Broker's Trust Account.  Earnest money is NON-REFUNDABLE if buyer fails to close for ANY reason including failure to obtain financing.
6. Real Estate Auctions conducted by United Country are Undisclosed Reserve Bid Auctions, unless notified otherwise by verbal notification and writing.  The Seller will have the right to accept the right to have others bid, on their behalf, up to and including the reserve amount.  If the Seller declines the high bid, the minimum reserve set by the seller may be disclosed at that time to all auction participants. 
7. Closing date will not be later than 30 days from date of Auction.  The balance of the purchase price is due in cash at closing.
8. Seller will pay the Seller's Policy of Title Insurance and all normal costs associated with the Seller's side of the transaction.  Buyer will pay normal costs associated  with the Buyer's side of a normal Arkansas Real Estate transaction.
9. Property is sold AS-IS.  The seller will furnish a general warrantee deed guaranteeing clear and marketable title.
10. All taxes and special assessments currently due plus any prorated portion used by seller will be paid by the seller or adjusted at closing.
11. No warrantees are expressed or implied by the Seller or United Country including its real estate Agents and Auctioneers regarding the property or its use, any improvements to the property, or compliance of the property with any city, county, or state rules, regulations, laws, or ordinances.  Buyer needs to satisfy self, PRIOR TO AUCTION, the property satisfies their requirements.
12. Any announcements made by the Auctioneer at the time of sale take precedence over any previous notices.
13. The conduct of the Auction and increments of bidding are at the discretion of the Auctioneer.
14. Property is auctions as a Cash sale.  Buyers must have secured funds prior to bidding.
15. Buyer must satisfy self prior of property condition PRIOR to Auction and bidding process.
16. Buyer must also completely satisfy self of any boundaries, easements, restrictions, covenants, or conditions prior to Auction bidding process.