Fairmont Motel Auction (Formerly The Inn at Petty John)

Terms:

10% nonrefundable down payment due within 48 hours of the close of the Auction. No financing or other contingencies. Any required inspections must be completed prior to bidding. All information contained herein derived from sources deemed reliable but not warranted. Sold as is no warranties written or implied. Property will be sold free and clear of any & all liens and encumbrances. Taxes will be prorated to the day of closing. 45 days to close. 5% buyer’s premium will be added to determine the final contract price.

Successful bidder will be emailed a contract to be executed and returned to Kaufman Realty & Auctions of WV. Successful bidders will deposit 10% of the Contract price in the form of cashier’s check or wire transfer to Kaufman Realty & Auctions of WV. The entirety of the remaining balance is due at closing or within 45 days. Instructions for wire transfer and /or cashier’s check transmittal will be sent by e-mail to the successful bidder. Purchaser shall be responsible for wire transfer fees.

Contract Documents will be sent by e-mail to the successful bidder must execute and fax or email back to Kaufman Auctions within 48 hours of the end of the auction.

Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.
At the close of bidding. The system is set to add a 5 minute extension when a bid is placed within the last 5 minutes and will do so until no one bids during the allotted time.
Buyer's Premium Example:
Bid Price: $100,000
Plus 5% Buyers Premium: $5,000
Total Contract Price: $105,000
Down Payment $10,500

DISCLOSURE: Kaufman Realty & Auctions of WV is acting as Auctioneer/agent and is an agent for the seller only.

DISCLAIMER: Information contained herein is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions.

All square footage and other dimensions are approximate

BUYER/BROKER INFORMATION: Up to 3% Commission will be paid to any properly licensed buyer's broker who registers a successful buyer according to the Broker Participation Guidelines. Broker registration forms are available. Call for Broker Registration Form or print it from the documents tab for that specific Auction. Must be registered & Approved 24 hours prior to Auction. Brokers/Agents are not entitled to a commission if they are the purchaser.