TERMS AND CONDITIONS FOR BROKERAGE PARTICIPATION
· Participating Broker must be a licensed NC Real Estate Broker.
· Broker must register qualified buyer(s) with Yount Auction and Realty, Inc. no later than 5:00 PM the DAY BEFORE the sale. Registration form can be transmitted either by mail, e-mail, hand delivery, and/or fax. Any buyer(s) that has/have bought and/or participated actively with a previous Yount Auction and Realty, Inc. auction, or is on current mailing lists do not qualify.
· NO Oral registrations are accepted, and no registration forms will be accepted the day of the auction.
· Yount Auction and Realty, Inc. reserves the right to accept or reject any or all broker registrations.
· Broker MUST accompany all buyers represented the day of the sale.
· Commissions paid on Bid Price (High Bid amount), not the Total Contract Price.
· If participating Broker’s Client is the successful bidder, they must sign NCAR Form 620-T: Real Property Auction and Sale Contract through Yount Auction and Realty, Inc.
· Broker commission structure will be based on the stated Terms and Conditions of the referenced auction above. Should property be offered and accepted through above registered broker on any date preceding or proceeding the above stated auction date and time, commission structure is subject to change, and is also subject to the existing terms and conditions stated forth for the above referenced auction.
· Buyer will be guaranteed a title free and clear of all monetary liens, based upon title search performed by buyer and/or buyer’s legal representative, and buyer's purchase of appropriate title insurance upon closing.
· Each broker agrees to the above terms of the auction as stated. PROPERTY IS SOLD “AS-IS, WHERE-IS”, and ALL inspections are encouraged before Sale Date. THERE ARE NO INS-ON OF FINANCING CONTINGENCIES!
· Yount Auction and Realty, Inc. is acting solely as agents for the SELLER, and in no way, by buyer(s) pre-registering, or by receiving any earnest money deposits from buyer(s), or by entering into an Offer to Purchase Contract with the buyer(s) indicates or creates any type of Agency relationship with the buyer(s).
· All commissions are paid solely at time of closing and dispersed by the Escrow Agent.
· Announcements made from the podium at the time
· THERE ARE NO EXCEPTIONS TO THESE BROKER PARTICIPATION TERMS AND CONDITIONS.