Auction Terms & Conditions The Conditions Of Sale At Public Auction, On This The 3rd Day Of June, 2021 Of The Real Estate Known As 173 Old Friedensburg Rd. Reading, PA, County Of Berks and Commonwealth of Pennsylvania Are As Follows:
The Highest And Best Bidder Shall Be Declared The Purchaser. If Any Dispute Shall Arise Between Two Or More Bidders, The Property Shall Be Immediately Placed Again Upon The Block.
No Person Shall Retract His Or Her Bid; However, The Owner Shall Have The Right To Accept Or Reject Any Or All Bids.
The Property Is Offered For Sale Free, Clear And Discharged Of All Liens And Encumbrances Except Any Zoning Or Other Governmental Regulations Affecting The Property, Building Rights Of Public Service Companies, If Any; Easements, Agreements Or Like Matters Of Record Or Easements Or Restrictions Visible Upon The Ground; Otherwise, Title To The Property Shall Be Insurable By A Reputable Title Insurance Company At The Regular Rates.
Real Property Taxes And Other Current Charges, i.e., Rents, Water And Sewer Rents, Utilities And Alienable Municipal Services, If Any, Shall Be Apportioned Pro Rata As Of The Date Of Settlement.
The Purchaser Shall Pay Down To The Seller's Agents At The Time The Property Is Struck Off Fifteen Thousand Dollars ($15,000.00) In Cash, Certified Funds Or Personal Check Accompanied By A Bank Letter Of Guaranteed Funds Securing Fifteen Thousand Dollars ($15,000.00) In The Purchaser's Account For A Minimum Of Seven Business Days After The Date Of The Auction For The Sole Purpose Of Satisfying The Aforementioned Deposit. The Balance Of The Sale Price, That Sale Price Being The High Bid Plus A 10% Purchaser's Premium, Shall Be Paid In Cash Or Certified Check On The Day Of Settlement Which Shall Be No Later Than Monday, July 19th, 2021.
Title Services Shall Be The Responsibility Of The Purchaser And Shall Be Provided By Stewart Abstract Of Berks County Inc. Settlement Shall Take Place At The Office Of Stewart Abstract Of Berks County Inc., 1100 Berkshire Blvd Reading, Pa 19610. William D. Howze Will Be Notified By The Purchaser In Writing Prior To Any Settlement, And No Settlement Shall Occur Without A Representative Of William D. Howze, Auctioneer, Present Unless A Waiver To This Stipulation Has Been Obtained In Writing By The Purchaser Prior To The Date Of Settlement.
All Realty Transfer Taxes Shall Be Paid By The Purchaser And Any Other Real Estate Taxes Shall Be Apportioned For The Current Term. Delinquent Taxes, If Any, Shall Be Paid By The Seller On Or Before Settlement Date. Purchaser Shall Be Responsible For Purchaser's Normal Settlement Costs. The Drawing Of The Deed As Well As Such Preparation Of Abstract Of Title As May Be Required Shall Be At The Expense Of The Purchaser.
Purchaser Shall Be Entitled To Possession Of The Premises Upon Payment Of The Purchase Money In Full And Delivery Of The Deed On Day Of Settlement.
Seller Makes No Representations As To The Specific Locations Of The Boundary Lines. Any Survey Or Surveys Desired By The Purchaser, Or Its Mortgagee, Shall Be Secured And Paid For By The Purchaser.
Purchaser Acknowledges That The Premises Have Been Inspected By Purchaser, That The Premises Are Being Purchased "As Is" As A Result Of Such Inspection And Not As A Result Of Any Representations Made By The Seller Or Seller's Agents And That The Seller And The Seller's Agents Shall Not Be Liable Or Responsible For Any Agreement, Condition Or Stipulation Relating To Or Affecting The Physical Condition Or The Use Of The Premises And Equipment Or Any Physical Defect In The Property Not Specifically Set Forth In This Agreement. Purchaser Shall Be Responsible For The Costs Of Any Pre-Settlement Inspections Required By Governing Entities And Any Demands Resulting Thereof. The Property Will Be Maintained By Seller In Its Present 'As Is' Condition Until Settlement, Normal Wear And Tear Accepted. Items May Remain On The Premises As Of The Date Of Closing And If So, Such Items Shall Become The Property And Responsibility Of The Purchaser.
Title To The Premises Shall Be Conveyed Free And Clear Of Liens And Encumbrances As Provided. If The Title As Provided For In These Conditions Cannot Be Conveyed, The Purchaser Shall Have The Option Of Taking Such Title As Seller Can Give Without Abatement Of Price Or Of Being Repaid All Monies Paid On Account Of Purchaser To Seller And This Sale Will Be Deemed Null And Void And Of No Effect.
It Is Understood That The Purchaser Has Inspected The Property, Or Hereby Waives The Right To Do So And Has Agreed To Purchase It As The Result Of Such Inspection And Not Because Of Or In Reliance Upon Any Representation Made By The Seller Or Any Other Officer, Partner Or Employee Of Seller, Or By The Auctioneer Or Any Of His Agents Or Employees And That The Purchaser Has Agreed To Purchase It In Its Present Condition Unless Otherwise Specified Herein. It Is Further Understood That This Agreement Contains The Whole Agreement Between The Seller And The Purchaser And There Are No Other Terms, Obligations, Covenants, Representations, Statements Or Conditions, Oral Or Otherwise Of Any Kind Whatsoever Concerning This Sale. Furthermore, This Agreement Shall Not Be Altered, Amended, Changed Or Modified Except In Writing Agreed Upon And Executed By The Parties Hereto.
The Property Is Serviced By Private Well Water & Municipal Sewer.
The Property Zoning Is Not Specified In This Document.
The Seller Has No Knowledge Of Water Contamination
The Seller Has No Knowledge Of The Presence Of Radon.
The Seller Has No Knowledge Of Hazardous Waste.
The Heating System Is Oil Fired Forced Hot Air. The Central Air Conditioning System Is Forced Air.
The Seller Has No Knowledge Of Lead Based Paint. The Seller Has No Records Relating To The Presence of Lead Based Paint. Purchaser Agrees To Waive The Opportunity To Conduct A Risk Assessment Or Inspection For The Presence Of Lead-Based Paint And/Or Lead Based Paint Hazards
The Seller Has No Knowledge Of The Presence Of Termites.
Upon Failure By The Purchaser, For Any Cause, To Comply With The Above Conditions, All Deposit Money And Other Sums Paid By The Purchaser On Account Of The Purchase Price, May Be (1) Retained By The Seller And Seller's Agents On Account Of The Purchase, Or (2) As Monies To Be Applied To The Seller's And Seller's Agents Damages, Or (3) As Liquidated Damages For Such Breach, As The Seller And Seller's Agents May Elect, And In The Event That The Seller And Seller's Agents Elect To Retain The Moneys As Liquidated Damages The Seller And The Seller's Agents Shall Be Released From All Liability Or Obligations And This Sale Shall Be Null And Void. The Seller Shall Have The Full Liberty With Or Without Notice, To Resell The Premises Any Time Without The Benefit To Purchaser From Its Sale. This Sale Is Not Subject To Any Contingencies Including But Not Limited To Financing Being Obtained By The Purchaser.
Having Been Declared The High Bidder At Today's Auction, I Agree To Abide By And Act In Accordance With The "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD READING. PA 19606". I Understand That Any Failure Upon My Part To Do So May Result In My Being Liable For Damages Including But Not Limited To Loss Of Agents' Commission, Expenses Incurred By Seller And Sellers' Agents In Producing This Auction, Any Shortfall In Sale Price From A Subsequent Sale Of This Property, Holding Costs Incurred By The Sellers Prior To Any Subsequent Sale Of The Property And Any Attorney's Fees Necessary To Collect The Aforementioned Costs, Loss, Expenses Or Damages.
This Agreement Shall Not Be Recorded In The Office Of Recorder Of Deeds, Or In Any Office Or Place Of Public Record And If Purchaser Shall Record This Agreement Or Cause Or Permit The Same To Be Recorded, Seller May, At His Option, Elect To Treat Such Act As A Breach Of This Agreement.
This Agreement Shall Be Considered Under And In Accordance With The Laws Of The Commonwealth Of Pennsylvania.
In Case Any One Or More Of The Provisions Contained In This Agreement Shall For Any Reason Be Held Invalid, Illegal, Or Unenforceable In Any Respect, Such Invalidity, Or Unenforceability, Shall Not Affect Any Other Provision Hereof, And This Agreement Shall Be Construed As If Such Invalid, Illegal, Or Unenforceable Provision Had Never Been Contained Herein.
This Agreement Will Be Exclusively Construed And Governed In Accordance With The Laws Of The Commonwealth Of Pennsylvania Without Regard To Its Conflict Of Laws Principles. The Exclusive Jurisdiction And Venue For Any Controversy Or Claim Between The Parties Will Be The County Of Berks In The Commonwealth Of Pennsylvania
It Is Expressly Understood And Agreed Between The Parties Hereto That The Renaissance Auction Group, William D. Howze, Auctioneer, Or Any Of Their Agents Or Employees, Are Acting As Agents Only And Will In No Case Whatsoever, Be Held Liable Either Jointly Or Severally To Either Party For The Performance Of Any Term Or Covenant Of This Agreement Or For Damages For The Nonperformance Thereof.
This Agreement Shall Be Binding On The Respective Heirs, Executors, Administrators, Successors, And To The Extent Assignable, On The Assigns Or Nominees Of The Parties Hereto, Provided Purchaser Shall Not Transfer Or Assign This Agreement Without First Having Obtained The Express Written Consent Of Seller. Upon Receipt Of Express Written Consent Of Seller And Upon Delivery To Seller Of An Instrument In Writing Whereby The Assignee Of The Purchaser Assumes All Of The Provisions Of This Agreement To Be Performed By Purchaser, Then In That Event, Purchaser Shall Be Released And Discharged Of All Further Liability Hereunder.
WITNESS Our Hands And Seals This 3rd Day Of June 2021, Signed And Delivered In The Presence Of:
BIDDER ACCEOTANCE AGREEMENT
Having registered to bid for the auction of real estate at 173 Old Friedensburg Rd. Reading, PA, concluding on Thursday June 3rd, I acknowledge the following:
1) I have been afforded access on site and / or online to the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD. READING, PA 10606", governing the sale of real estate at this auction, and a Property Information Pack.
2) I have read the Terms and Conditions or intend to read the Terms and Conditions prior to the sale of the real estate. My request to register and participate in the auction is explicit affirmation that I accept and will abide by the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD. READING, PA 10606".
3) I am prepared, upon being declared the high bidder, to place a non-refundable Fifteen Thousand Dollar ($15,000.00) deposit, to be applied to the purchase price, in cash or certified check; the purchase price being the high bid plus a 10% Buyer's Premium.
4) I understand that settlement for the property offered at auction today must occur on or before Monday July 19, 2021 as stated in the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD. READING, PA 10606".
5) I acknowledge that a representative of The Renaissance Auction Group is available to answer questions prior to the sale of the real estate described in "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD. READING, PA 10606".
6) Upon being declared the high bidder, I affirm that I will accept, abide by and act in accordance with the "CONDITIONS OF SALE OF REAL ESTATE AT PUBLIC AUCTION 173 OLD FRIEDENSBURG RD. READING, PA 10606". I understand that any failure upon my part to do so may result in my being held liable for any and all losses incurred by the Seller and the Seller's Agents as a result of that failure.
Seller User Terms
Bidder User Terms