Electronic Sentri Lock 

TERMS AND CONDITIONS FOR THIS ACCELERATED SALE OF REAL ESTATE

Online Participation: All bidders must agree to the Online Auction Terms by authorizing to place a hold on a major credit card in the amount of $2500.  Such authorizations will be released for all registered bidders at the conclusion of the online auction

Deposit Amount:  If you are the successful purchaser at the conclusion of the auction, you will be required to make a $10,000 Deposit to The McGuire Group LLC; with the balance of 10 percent of the Total Purchase Price due to same within 72 hours of an accepted and ratified, non-contingent contract.  The Total Purchase Price includes a 5 percent Buyer's Premium in addition to your bid amount.  For example, if your high bid is $100,000, your Total Purchase Price would be $105,000. 

If the initial $10,000 deposit is not delivered at the conclusion of the auction, The McGuire Group LLC reserves the right to immediately reauction the property.  This will be considered a default by the buyer (see “Conditions of Default”)

The McGuire Group LLC reserves the right to revoke all bidding privileges for any online buyer that does not fully comply with all terms and conditions set forth in this auction.

Buyer’s Premium: A Buyer’s Premium of five (5) percent will be added to the high offer for the real property and included in the Total Purchase Price paid by the buyer. 

Closing: TIME IS OF THE ESSENCE WITH RESPECT TO ALL CLOSINGS

The successful buyer must sign all documents and contracts in the time referenced below and will be required to make an appointment with the closing agent to pay the balance of the purchase price and receive the deed to the property. Closing must occur within 30 days, unless otherwise specified in the Contract for Real Property Purchase Agreement, a copy of which is included in the information packet.  Buyer acknowledges and agrees that time is of the essence.  Said premises are to be conveyed by General Warranty Deed from the Seller, free and clear of all liens.  If you are the successful high bidder and the Seller confirms the sale, you will be required to sign the Contract for Real Property Purchase Agreement and other necessary documents in the form established by The McGuire Group LLC within one (1) hour after the close of auction.  The terms of the Contract for Real Property Purchase Agreement are expressly non-negotiable and the Purchase Contract must be signed in the name of the successful participant and, except as may specifically be permitted by the terms of the Purchase Contract or expressly agreed upon in writing by the Seller in their sole discretion, may not be assigned to any other person or party.  The Contract for Real Property Purchase Agreement and such other documents will set forth the specific terms and conditions of the sale, including the time by which the successful participant’s purchase of the property must be completed.  Copies of some or all of these documents are available from The McGuire Group LLC and it is your responsibility to obtain, read and understand the provisions of any such documents before making offers (bids) at this sale. 

Closing Costs:  The deed shall be prepared and acknowledged by Seller at Seller’s expense and recorded at the expense of Buyer.  The buyer shall pay all title searches, title insurance charges, survey expenses, usual conveyance expenses, and recordation taxes, including the Grantor’s and Grantee’s Tax.  Real estate taxes, rents, water and sewage charges, if any, will be prorated as of the date of closing.  Successful purchasers must pay all wire transfers.  Sale of the property is not contingent upon the buyer obtaining financing. 

Offers: All offers are open to the public without regard to race, color, sex, religion or national origin.  As used in these conditions of sale, the term “the final offer” means the highest offer acknowledged by the party conducting the sale, and the term “purchase price” means the sum of the final offer.  The highest offering acknowledged by the party conducting the sale at the end of the sale shall be the buyer of that real property.  The party conducting the sale has the right to reject any offer or raise any offer which, in their opinion, is not commensurate with the value of the property being offered.  The party conducting the sale may advance the offering at their absolute discretion and, in the event of any dispute between registered participants, may determine the successful participant or re-offer and resell the property in dispute.  Should there be any dispute after the sale, the record of final sale shall be conclusive. 

Offer Intervals: To be determined by the party conducting the sale.

Extended Offering Time: Notwithstanding the scheduled closing time for this sale, if an offer is made during the final three (3) minutes of the scheduled offering time, the offering time will automatically be extended.  Subsequent and additional extensions shall be applied to any and all offers placed during any such extension period until an extension period has expired without additional offers being placed, at which time the offering time, as extended, shall be closed. 

Technical Problems:  We have made reasonable efforts to provide for online offers for this sale.  You recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the sale website, our online offering program and process, your or our internet service and access, and your connection to this sale offering program and process.  You further acknowledge that these and other technical problems may develop at any time and with or without notice.  You acknowledge and agree that neither we nor the Seller is in anyway responsible for any such technical problems, and that you have no absolute right to be able to make offers on this sale in the event of any such technical problems.  Notwithstanding the foregoing, you further acknowledge and agree that in the event of any such technical problems, we reserve the right to postpone or cancel the sale and/or extend the offering time for this sale and/or relist the property for sale at another time, in our sole discretion, and that our decision with regard to any such actions is and will be final.  Participants must take care in entering offers, and each Participant will be responsible for all offers placed under the Participant’s approved registration.  Once entered and recorded online, an offer is deemed to be final on behalf of the registered Participant and may not be modified, retracted or rescinded in whole or in part. 

Offer Acceptance:  All offers are subject to Seller Approval. We will inform the bidder with the highest offer once the offer has been considered. 

Conditions of Default:  If Purchaser defaults in making settlement, the deposit paid by defaulting party shall be forfeited, and the property under contract may either be resold at the risk and expense of such party; or Seller may accept the next highest available offer at the sale.  Such defaulting party shall be liable personally for any deficiency resulting from the resale of the property if purchased at a lower price, as well as for all costs, expenses, and attorneys’ fees in connection with such resale.  The forfeiture of such deposit shall not limit any rights or remedies of Seller with respect to any such default. 

Controlling Law:  The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the sale shall be governed and interpreted by the laws of the Commonwealth of Virginia.  By making an offer in the sale online, the participant shall be deemed to have consented to the jurisdiction of the state and federal courts of the Commonwealth of Virginia.

Inspection:  All property is being sold “where is, as is, with all faults”, with no representations or warranties of any sort except the general warranty to be included in the deed to the real property.  Descriptions are provided as a service to customers only and do not constitute a warranty, either expressed or implied.  We disclaim all responsibly for physical condition.  All buyers are responsible for prior inspection of properties on which they make an offer, and by making an offer(s) are deemed to have so inspected the property to their satisfaction.  Placing an offer constitutes an agreement by participant to these conditions of sale.  We assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials.  Although information has been obtained from sources deemed reliable, we make no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and materials. 

Release: The successful participant must agree to release any and all claims or causes of action it may have against beneficiary and Broker (or the employees or agents of either of them) relating in any way to (a) the sale, (b) the property offered for sale, (c) any condition or aspect of such property that may not be in compliance with any federal, state or local law, regulation, or ruling including, without limitation, any laws, regulations, and rulings relating to environmental contamination or hazardous waste, and/or (d) any documents, reports, complications, financial statements, projections, surveys, or any other documents delivered to such successful participant by the Broker, and/or the beneficiary, or the agents or employees of either of them (collectively, the “Accommodation Documents”). The successful participant must acknowledge and agree that the beneficiary, Broker and the agents or employees of any of them have not made and do not make and have disclaimed any and all representations or warranties regarding the truth, accuracy, or completeness of any of the documents provided the successful participant relating to the property purchased or the sources thereof and that such documents were provided solely as an accommodation to such successful participant.

Governmental Authorizations:  The successful participant for the real property will be responsible for obtaining, at its expense, the approval for any license, privilege, permit or right necessary to improve, renovate, and/or develop the real property, or to construct, improve, and/or alter any improvements on the real property, and such successful participant will be responsible for the fulfillment of any conditions imposed or required for such approvals.  The sale will be final, whether or not any such approvals are obtained of any necessary or desirable licenses, permits, privileges, or rights. 

Megan’s Law Disclosure:  Interested parties should exercise whatever due diligence they deem necessary with respect to information on registered sexual offenders who might live near a property being offered for sale.  Such information may be obtained by contacting your local police department of the Department of State Police. 

DISCLAIMER: 
Because this real estate is being auctioned without contingencies, The McGuire Group, LLC encourages all bidders to perform their due diligence prior to the conclusion of the auction at 11am ET on January 30, 2020.  The McGuire Group, LLC has attempted to provide accurate information of the property, however, it is the bidders responsibility to determine the condition and suitability of each lot. Printed statements or descriptions by The McGuire Group, LLC staff are provided in good faith. 

BIDDING MISTAKES:
Review all bids before submitting. Our clients are not willing to reimburse you for mistakes of judgment as to suitability of the items you bid on.

CATALOG DISCREPANCIES:
When in doubt, contact us before bidding.

PHOTOS:
Photos often show more than one item; or several items connected. Do not assume anything simply because the items appear to be photographed together.

AUCTIONEER RIGHTS:
The McGuire Group reserves the right to add or remove items, split or combine lots, cancel, extend or reschedule individual items or events, and make changes to inspection and removal times.
Consignors may, on occasion, place minimum acceptable prices on items.

PAYMENT
(Described above under "Payment Info:)

DISPUTES AND DEBT COLLECTION;
Any dispute arising out of this contract is to be settled in accordance with the Commercial Arbitration Rules of the American Arbitration Association. The venue will be the County of Fairfax, Commonwealth of Virginia. 

GUARANTY AGREEMENT:
By submitting a bid in the name of a business entity, the individual submitting the bid enters into a guaranty whereby he or she personally guarantees payment to The McGuire Group LLC of any bid amount not paid by the business entity or corporation for any reason, together with all collection expenses incurred to enforce collection.

AGE REQUIREMENT:
All bidders must be 18 years of age or older.

BIDDER INFORMATION AND SECURITY:
All registration information the bidder provides to The McGuire Group, LLC shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify The McGuire Group, LLC if they believe that their bidder number and password have been compromised.