ONLINE-ONLY AUCTION

Bidding Starts: Saturday, October 3, 2020 at 10:00:00 am ET

The following Addendum will be made a part of the Sales Contract between Buyer and Seller, represented by the Listing Agent, for the purchase and sale of the property known as 8901 Burning Tree Rd., Bethesda, MD 20817. 

In consideration of ten (10%) deposit of the Total Purchase Price delivered by Purchaser to The McGuire Group LLC and the mutual covenants hereinafter provided, Seller agrees to sell, and Purchaser agrees to buy, the following parcel of real estate together with any improvements thereon, commonly known as:

8901 Burning Tree Rd., Bethesda, MD 20817 {the "Property"), legally described as Lot 9 and Part of Lot 10, Block "E", Bradley Hills Grove. 

Auction Terms and Conditions. The Auction Terms and Conditions (the "Auction Terms”) shall be deemed part of this Contract as if set forth in their entirety.

Total Purchase Price. Purchaser agrees to pay as the full purchase price for the Property the sum of

                     $_ _ _ _ _ _ __ _ _ (Total Purchase Price, as follows)

Purchaser acknowledges that the Total Purchase Price includes a Buyer's Premium of three and one-half percent (3.5%).

Successful purchaser shall deliver fifty thousand ($50,000) in certified funds on day of auction to be held by The McGuire Group LLC.  The remainder of ten (10) percent of the Total Purchase Price is due to same within 72 hours.  TMG will transfer this deposit to the Settlement company once the closing documents are prepared.  

Purchaser shall deliver the remainder of the Total Purchase Price to Settlement Company in cash, by wire transfer or by certified or cashier's check, as directed for settlement. 

Illustration

 

High Bid		$ _____
Buyer's Premium (3.5% of high bid)	(+)	$ _____
Total Purchase Price	(=)	$ _____
Initial Deposit of $50,000 (due at conclusion of online auction)	(-)	$ _____
Additional deposit balance due to bring Total Deposit to 10% of the Total Purchase Price (Due COB 10-27-2020)	(-)	$ _____
Balance of Purchase Price Due at Settlement	(=)	$ _____

 

Buyer's Premium: There is a 3.500% Buyer's Premium in effect for this auction.

DISCLAIMER: 
The McGuire Group, LLC encourages all bidders to inspect the offerings in person before bidding. The McGuire Group, LLC is not responsible for incorrect listing information, if any. The McGuire Group, LLC has attempted to provide accurate descriptions of all items, however, it is the bidders responsibility to determine the condition and suitability of all offerings.  Printed statements or descriptions by The McGuire Group, LLC are provided in good faith.

BIDDING MISTAKES:
Review all bids before submitting. Our clients are not willing to reimburse you for mistakes of judgment.

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

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. 
The high offer in this auction is subject to Seller confirmation.  

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.