Auction Details
Online-Only Auction:November 9-16, 2016
Online Bidding Opens:
Thursday, November 9, 10:00am EST
Online Bidding will begin to Close:
Tuesday, November 16, 2:00pm EST
This Online-Only Auction features a soft close. If any bids are received within the ten minutes prior to this property closing, the bidding time will be extended for an additional ten minutes. The ten minute extension will continue to be applied until no further bids have been placed.
When placing a bid, you are welcome to bid the asking price, or you may enter your maximum bid and the system will competitively execute your bid for you.
Leland Little Auctions has been providing world-class auction services for families and collectors for over 20 years, and is now actively consigning for upcoming auctions. We invite you to contact our gallery today for a confidential discussion to learn more about where selling at auction can take you.
Terms & Conditions
Online Only Real Estate Terms
Importance of Terms:
Thank you for your interest in this Luxury Estate Auction. Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Leland Little Auctions, Ltd. and Jill Ehrenfeld of Governors Club Realty herein after called the “Auctioneers/Brokers” are acting as agent of the Seller and at no time acting on behalf of the Buyer.
Auctioneer/ Brokers:
Leland J. Little, NCAL#6139; NCFL#7452, NC Real Estate License #242904
Jill Ehrenfeld, NC Real Estate License #230608
Buyer’s Premium:
There will be a zero percent (0%) Buyer’s Premium added to the final bid price to determine the final contract purchase price.
Property Condition, Information, and Inspection:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. The Auctioneers/Brokers make no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. The property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. See GovernorsClub.com for detailed information. The Auctioneers/Brokers have attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contract.
Outbid Notification:
Bidding will be conducted online with access to the current asking bid and bidding history. The bidding software will notify Bidders by text or email, depending on account settings selected by the Bidder, when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot page on the Leland Little Auctions, Ltd. website. Due to varying Internet connections and speed, sometimes email notifications can be delayed, received out of order, or not received at all. We are not responsible for failure of any part of the bidding process or Internet bidding. A bid center will be available at the Governors Club Realty Office one hour prior to the closing of the online auction for Bidders who would like to ensure that their bid is received and executed.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature (soft-close). Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 2:00 and receives a bid at 1:51, the close time will automatically extend to 2:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Auctioneer’s Discretion:
The Auctioneers/Brokers have full discretion to modify the date, time, and details of the auction for any reason, including but not limited to technical issues, emergencies, and the convenience of the Auctioneers/Brokers or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, the Auctioneers/Brokers and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the Auctioneers/Brokers nor the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. The Auctioneers/Brokers may send email notifications to registered Bidders with updated information as deemed necessary.
Auction Cancellation – Bid Rejection:
The Auctioneers/Brokers reserve the right to reject any and all bids for any reason. The Auctioneers/Brokers reserve the right to cancel this auction prior to the close of bidding, even if a bid has been placed.
Acceptance of Bid Prices:
All bids must be at or above the stated minimum starting bid. Placing a bid creates a CONTRACTUAL AGREEMENT to purchase the property at the high bid price plus any additional closing fees included at settlement of the real property transaction. The successful Bidder and/or Buyer will be required to enter into an Auction Purchase Contract immediately following the close of the auction. The Auctioneers/Brokers will email documents to be executed and they need to be faxed or emailed back to Leland Little Auctions, Ltd. by the end of the business day following the close of the auction. The Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. Winning Bidders and/or Buyers not executing and returning contracts with earnest money deposit by the end of business day following the close of the auction, will be considered in default.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed on the auction closing date or the following business day.
Payment Terms:
In order to bid, the buyer must submit a $10,000 bidding deposit in the form of wire transfer or certified check, which will be credited at closing or refunded if you are not the winning bidder.
Ten Percent (10%) of the final contract purchase price is required as non-refundable earnest money deposit in the form of a wire transfer. The earnest money deposit is due on the auction closing date or the following business day, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is later. The earnest money deposit will be credited to the buyer at closing. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contract.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is later.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction will first be heard through mediation, then, if necessary, shall be heard in the General Court of Justice of Orange County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
By bidding on the property, the Buyer agrees to all terms and conditions set forth. The Auction Purchase Contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. The Winning Bidder and/or Buyer not executing and returning the contract with the earnest money deposit on the auction closing date or the following business day will be considered in default.
By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, the Auctioneers/Brokers have the right to retain your bidding deposit of $10,000, as well as the right to pursue legal remedies available to the full extent of the law for breach of contract.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, the Auctioneers/Brokers will reject the registration, and bidding activity will be terminated. The Seller and the Auctioneers/Brokers reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to the Auctioneers/Brokers.
Age Requirement: All Bidders must be eighteen (18) years or older to bid.
Pre-Auction Offers Entertained
Broker Participation Encouraged
Importance of Terms:
Thank you for your interest in this Luxury Estate Auction. Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.
Agency:
Leland Little Auctions, Ltd. and Jill Ehrenfeld of Governors Club Realty herein after called the “Auctioneers/Brokers” are acting as agent of the Seller and at no time acting on behalf of the Buyer.
Auctioneer/ Brokers:
Leland J. Little, NCAL#6139; NCFL#7452, NC Real Estate License #242904
Jill Ehrenfeld, NC Real Estate License #230608
Buyer’s Premium:
There will be a zero percent (0%) Buyer’s Premium added to the final bid price to determine the final contract purchase price.
Property Condition, Information, and Inspection:
All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. The Auctioneers/Brokers make no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. The property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. See GovernorsClub.com for detailed information. The Auctioneers/Brokers have attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contract.
Outbid Notification:
Bidding will be conducted online with access to the current asking bid and bidding history. The bidding software will notify Bidders by text or email, depending on account settings selected by the Bidder, when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot page on the Leland Little Auctions, Ltd. website. Due to varying Internet connections and speed, sometimes email notifications can be delayed, received out of order, or not received at all. We are not responsible for failure of any part of the bidding process or Internet bidding. A bid center will be available at the Governors Club Realty Office one hour prior to the closing of the online auction for Bidders who would like to ensure that their bid is received and executed.
Auction Ending:
Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature (soft-close). Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 2:00 and receives a bid at 1:51, the close time will automatically extend to 2:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.
Auctioneer’s Discretion:
The Auctioneers/Brokers have full discretion to modify the date, time, and details of the auction for any reason, including but not limited to technical issues, emergencies, and the convenience of the Auctioneers/Brokers or the Seller.
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online auction-related technologies, the Auctioneers/Brokers and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the Auctioneers/Brokers nor the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. The Auctioneers/Brokers may send email notifications to registered Bidders with updated information as deemed necessary.
Auction Cancellation – Bid Rejection:
The Auctioneers/Brokers reserve the right to reject any and all bids for any reason. The Auctioneers/Brokers reserve the right to cancel this auction prior to the close of bidding, even if a bid has been placed.
Acceptance of Bid Prices:
All bids must be at or above the stated minimum starting bid. Placing a bid creates a CONTRACTUAL AGREEMENT to purchase the property at the high bid price plus any additional closing fees included at settlement of the real property transaction. The successful Bidder and/or Buyer will be required to enter into an Auction Purchase Contract immediately following the close of the auction. The Auctioneers/Brokers will email documents to be executed and they need to be faxed or emailed back to Leland Little Auctions, Ltd. by the end of the business day following the close of the auction. The Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. Winning Bidders and/or Buyers not executing and returning contracts with earnest money deposit by the end of business day following the close of the auction, will be considered in default.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications and properly signed on the auction closing date or the following business day.
Payment Terms:
In order to bid, the buyer must submit a $10,000 bidding deposit in the form of wire transfer or certified check, which will be credited at closing or refunded if you are not the winning bidder.
Ten Percent (10%) of the final contract purchase price is required as non-refundable earnest money deposit in the form of a wire transfer. The earnest money deposit is due on the auction closing date or the following business day, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is later. The earnest money deposit will be credited to the buyer at closing. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contract.
Closing:
Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is later.
Closing Costs:
Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation.
Legal Interpretations:
The laws of the State of North Carolina shall interpret this document.
Disputes:
Any and all causes of action resulting from this auction will first be heard through mediation, then, if necessary, shall be heard in the General Court of Justice of Orange County, North Carolina as the sole and exclusive venue.
Auction Bidder and/or Buyer Default:
By bidding on the property, the Buyer agrees to all terms and conditions set forth. The Auction Purchase Contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. The Winning Bidder and/or Buyer not executing and returning the contract with the earnest money deposit on the auction closing date or the following business day will be considered in default.
By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, the Auctioneers/Brokers have the right to retain your bidding deposit of $10,000, as well as the right to pursue legal remedies available to the full extent of the law for breach of contract.
Title:
As specified in the Auction Purchase Contract.
Deed:
As specified in the Auction Purchase Contract.
Possession:
Not given until closing and further specified in the Auction Purchase Contract.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.
Easements:
Subject to any and all easements recorded or unrecorded.
Zoning:
This property is subject to all state and local zoning ordinances.
Acreage & Aerial Photos:
Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.
Bidder Verification:
The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, the Auctioneers/Brokers will reject the registration, and bidding activity will be terminated. The Seller and the Auctioneers/Brokers reserve the right to refuse service to any person who they feel to be fraudulent.
Bidder Responsibilities:
Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to the Auctioneers/Brokers.
Age Requirement: All Bidders must be eighteen (18) years or older to bid.
Pre-Auction Offers Entertained
Broker Participation Encouraged