Full Conditions of Sale for 3113 Rutgers Drive

Auction Terms and Conditions

Thank you for your interest in this property! To learn more about bidding on or buying this property, please read these terms and conditions in their entirety.

BINDING AGREEMENT

These Auction Terms and Conditions are a binding agreement between you and the sales official who is conducting the auction of, or providing information about, this property. By registering to bid on this property, you are accepting the terms and conditions of this agreement and agree to be bound by this agreement. If you do not accept the terms and conditions of this agreement or do not want to be bound by it, do not register to bid on this property.

DEFINITIONS

Defined terms for this agreement are indicated in italics.

A bidder is a prospective buyer who places a bid on the property.

A bid is an irrevocable offer to purchase the property for the contract price.

The buyer's premium is the amount added to the highest bid to determine the contract price. The buyer's premium is calculated as a percentage of the highest bid. For example, if the highest bid is $100,000 and the buyer's premium is 5%, the buyer's premium is $5,000 and the contract price is $105,000. The buyer's premium is due and payable to the sales official.

The contract price is the total purchase price of the property. The contract price is the sum of the highest bid, the buyer's premium, and the amount of costs, allowances, and taxes that the proceeds of the sale are insufficient to cover.

The highest bidder is the bidder who submits the highest bid at the auction of the property and satisfies the terms and conditions of the auction, including completing payment of the sale deposit on time. The sales official determines the highest bidder in his or her sole discretion.

The property details page is the page on this website that identifies the property up for auction and where bids are placed for that property.

The website is www.roup.com and its subdomains.

COURT-ORDERED AUCTION; NOT A PRIVATE SALE

The auction has been ordered by a court; it is not a private sale of real estate. As such, you acknowledge and agree that you will not receive disclosure statements or other documents customarily provided in a private sale of real estate, such as Agency Disclosures, Property Disclosures and Lead Based Paint Disclosures.

If you are the highest bidder and the sale is finalized, you will be obligated to complete your purchase of the property for the contract price in accordance with orders from the court, applicable law, instructions from the sales official, and the terms of this agreement.

NO ACCESS TO THE PROPERTY / VIEWINGS / INSPECTIONS

Access is not authorized until after the buyer takes title to the property. The sales official does not have any right to access the property and cannot give you, appraisers, lenders or inspectors access to the property. You agree that you will not access or attempt to access the property yourself or attempt to circumvent this prohibition by having someone else act on your behalf.

CONDUCTING DUE DILIGENCE ON THE PROPERTY

You must perform your own due diligence related to purchasing the property and independently verify all information about the property. Although information about the property has been obtained from sources thought to be reliable, the sales official does not make any guarantee or representations as to the accuracy or completeness of any such information and assumes no liability for any errors or omissions regarding such information. Any photographs of the property are provided for marketing purposes only and are not guaranteed to be a recent or fully accurate depiction of the property.

CONDITION OF THE PROPERTY; ASSUMPTION OF RISK

The property is being sold in its existing "AS IS, WHERE IS, WITH ALL FAULTS" condition, with no expressed or implied guarantees, representations, or warranties whatsoever, and with all faults, defects, and limitations, whether apparent or not. You are assuming all risks associated with purchasing this property. You must accept the property in whatever state and condition the property is in, with all defects, both patent and latent, and with all faults, whether known or unknown, existing at the time or arising in the future. All title reviews, repairs, inspections (if any), surveys, or permits related to the property are at your own risk and expense.

PURCHASER CONTINGENCIES

None.

REGISTERING TO BID

If you want to bid on a property, you must register in accordance with the website's registration requirements. When registering, you may not provide false information or impersonate, imitate or pretend to be someone else.

The sales official may require proof that your registration information is accurate. If you do not provide such proof, the sales official may terminate or suspend your use of the website. You may not bid on any property if you have been temporarily or permanently suspended from using the website.

The sales official may reject the use of any password, username, or email address for any reason.

You may register to bid only if you are able to form a legally binding contract to purchase real property under the laws of the state in which the property is located. You cannot bid if you are a minor or incompetent or do not have the mental capacity or authority to enter into a contract to purchase real property.

If you are registering an entity, your registration constitutes a representation and warranty that you have the mental capacity to enter into a contract to purchase real property and actual authority to legally bind the entity to a contract to purchase real property. If you do not have this authority, you agree that you will be personally liable for your conduct.

If any of your registration information changes, you must update it promptly. Your failure to do so is at your own risk. You will not seek to hold anyone else liable for your failure to keep your registration information up to date.

SAFEGUARDING YOUR REGISTRATION INFORMATION

You are solely responsible for safeguarding your registration information and for updating and maintaining it. You are responsible for all actions taken with the use of your registration information. You may not authorize or permit anyone else to access or use your registration information, and you may not access or use anyone else's registration information. You may not sub-license, transfer, sell, rent, or assign your registration information to any third party. Any attempt to do so will be null and void.

CANCELLATION / POSTPONEMENT

The auction might be cancelled or postponed at any time. If you are the highest bidder, your purchase of the property might be delayed or you might not be able to complete your purchase of the property. You will bear all risk of loss in these circumstances and will not seek to hold anyone liable for any costs, expenses, or losses you may incur.

BIDDING ON THE PROPERTY

All bidding is open to the public without regard to race, color, sex, religion, familial status, disability or national origin.

If you place a bid on the property, your bid is an indication of your intent to purchase the property for the contract price. If you are the highest bidder and the sale is finalized, you will be obligated to complete your purchase of the property for the contract price in accordance with orders from the court, applicable law, instructions from the sales official, and the terms of this agreement.

EXTENSION OF THE AUCTION

If any bidding occurs in the final moments of the auction, the end of the auction will be extended automatically for successive fixed periods of time (the "anti-snipe time") to give all bidders the opportunity to submit their highest bid. The auction will end after no bidding occurs during the anti-snipe time.

THE HIGHEST BIDDER

The sales official controls all aspects of the bidding process and reserves the right to reject any bid in his or her sole discretion. The sales official also has sole and absolute discretion to determine the highest bidder.

POST-SALE OBLIGATIONS

If you are the highest bidder, you must do the each of the following on or before the applicable deadline: (1) complete and sign all forms required by the sales official, (2) pay the sale deposit, and (3) pay the balance due.

All payments must be made by wire transfer or other electronic means acceptable to the sales official. Cash and personal checks are not acceptable forms of payment. If you fail to pay the sale deposit on or before the payment deadline, you will be in default of your payment obligation.

CONSEQUENCES OF BEING IN DEFAULT OF YOUR PAYMENT OBLIGATION

If you default on your obligation to pay the sale deposit or the balance due by the deadlines for making such payments, then:

You agree to forfeit the sale deposit.
You agree to pay damages in an amount no less than the difference between your contract price and the contract price at a subsequent sale of the property.
Your eligibility to use the website may be suspended or terminated.

These consequences of default are in addition to any other remedies provided by law.

SALE CONTINGENT ON CONFIRMATION BY COURT

The sale of the property may be contingent upon approval by the court. The sale of the property is not subject to any other contingency, such as a financing contingency, an inspection contingency, or an occupancy contingency.

DEED TO THE PROPERTY

The sales official will convey title to the property via a deed in accordance with applicable law. No warranties of title are made in connection with the conveyance of title.

If you wish to take title in the name of an entity, the sales official may require documentation or information relevant to an entity's purchase of real property, such as entity formation documents and resolutions authorizing the transaction, all of which must be complete and accurate at the time it is provided.

TECHNICAL PROVIDER AND TECHNOLOGY ISSUES:

In the sole discretion of the sales official, the sales official may use a third party to provide technical services to facilitate the auction. In the event there are issues related to any technology utilized during the auction, the sales official may extend the bidding, continue the bidding, or close the bidding. In no event shall the sales official be held responsible or liable for a missed bid, any failure of technology to function properly for any reason during the auction, or for the actions of any third-party service provider engaged by the sales official to provide services for the auction.

FORCE MAJEURE

If the sales official is delayed or prevented from the performance of the auction by reason of any act of God, act of nature, fire, act of government or state, acts of war or terrorism, civil commotion, insurrection, embargo, prevention from or hindrance in obtaining raw material, energy or other supplies, labor stoppages or disputes of whatever nature, or any other reason beyond the control of the sales official, including, but not limited to any epidemic or outbreak of pandemic disease, performance of such act shall be excused.

DISCLAIMERS

The sales official has not made, does not make, and specifically negates and disclaims any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to (1) the property, including whether any information about the property is complete, accurate, reliable, current, or error-free, (2) the website, including the availability, accessibility, functionality, or security of the website and (3) accuracy of any photos utilized in marketing.

OCCUPANCY

No representations are made about whether the property is occupied. If you are the highest bidder, all eviction proceedings and other duties and responsibilities of a real property owner and/or landlord, including compliance with federal, state or local laws, ordinances and regulations, will be your sole responsibility and obligation.

AMENDMENTS TO THIS AGREEMENT

The sales official reserves the right to amend the terms of this agreement at any time. All amendments become effective upon posting to the website. If you object to any amendment, your sole recourse will be to stop using the website and/or participating in an auction on the website. Your continued use of the website and/or participation in any auction on the website constitutes your acknowledgement of the amendment and agreement to be bound by the terms and conditions of this agreement, as amended.