Below you will find an example of standard real estate auction terms.
Our standard real estate auction terms example. This is our standard terms template, actual terms may vary from auction to auction. Deposit amounts, closing period and contingencies are examples of items that may change depending on circumstances.
TERMS ON REAL ESTATE: $X,XXX non-refundable deposit due on sale day. Balance paid in full within 30 days.Purchaser must sign sales agreement day of sale. This real estate sold “as is” with no contingencies. Real estate sold by legal description. Seller to furnish title insurance and warranty deed. Property sold free and clear of all liens, encumbrances, and back taxes, if any. Taxes will be pro-rated to the day of closing on a due date basis. A XX% buyer’s premium will be added to the final bid on all real estate transactions.