10% down Payment in the form of a non-refundable deposit balance due at closing within 30 days, title insurance and warranty deed furnished at closing. 10% buyer's premium.  Fowler Auctioneers, Inc. is acting exclusively as an agent for Seller and not as an agent for any Bidder or Buyer. No third-party broker is acting as a sub-agent of Auctioneers.  All properties are absolutely sold “as is, where is” with no contingencies. Announcements made day of sale take precedence over all advertisement.

Brokers/Agents:   MUST print participation form from our web-site and fax to our office for approval to 870.356.4225.   This form must be faxed to our office 48 hours in advance to register your buyer for approval, no exceptions!!   A commission will only be paid if you have pre-registered a buyer and that potential buyer/bidder has been pre-approved, also the buyer/bidder is not on our mailing list or has been to a previous auction of Fowler Auctioneers, Inc.   All Properties sold “as is where is”, no sellers property disclosure available.

Terms and Conditions of Auction

The following terms and conditions shall apply to all auctions held, regardless of the type, size or kind of auction.  Specific terms and conditions may be modified at any time prior to the commencement of the auction by Fowler Auctioneers, Inc. and any such modifications will be announced prior to the commencement of said auction.  Any Bidder/Buyer expressly agrees to abide by these terms and conditions or the terms and conditions as modified verbally on the day of the auction as a condition to their participation in said auction.

Fowler Auctioneers, Inc., hereinafter referred to as “Agent”, is the exclusive agent for the Seller of both “personal” and “real” property items at any auction.  Agent does not in any way represent the interest of any Bidder/Buyer. No third-party broker is acting as a sub-agent of the Agent, unless specifically disclosed.

All purchases must be paid for in full in US funds day of auction.  Forms of payment accepted include: cash, approved checks, and Visa and MasterCard, except as where noted otherwise.

All announcements made the day of the auction are controlling over any printed terms, conditions, fliers, advertisements, or representations made prior to the auction.

ALL SALES ARE FINAL.  No refunds of any kind will be given once an item has been paid for, no exceptions.

A Buyer who makes the highest bid to purchase an item may not remove that item from the auction site until full payment has been made to Agent.

Buyers not personally known by Agent must present an irrevocable letter of guarantee from issuing bank, guaranteeing payment of funds to Agent.  Agent reserves the right to contact the financial institution on which the letter is written or the funds are drawn to verify available funds.

All property being sold is described in the information packet provided by the Agent.  Personal and Real Property are included.  However, the list provided by the agent is subject to having items deleted or added on the day of the auction.

 DUE DILIGENCE:  Seller and Agent do not attempt to provide Bidder with all of the information Bidder may need to make an informed decision about the Auction and Property.  Bidder should obtain professional advice and conduct due diligence on the Property, title commitment, public records, Terms of Auction, Auction, Sale Contract, transaction contemplated, and all circumstances, defects, facts, issues, matters, problems, and other relevant matters (collectively “Property Issues”).  All information provided by Agent comes from Seller and is believed to be accurate, but neither Seller nor Agent guarantees, represents, or warrants its accuracy or completeness and Bidder should not rely upon it without independent inspection and verification from sources Bidder knows to be reliable.  Seller and Agent are not required to update any information provided or published and shall have no liability on any basis for failing to do so.

All property/items are sold “As-Is, Where-Is” with no warranty whatsoever, expressed or implied.  The Agent is not responsible for items after sold.  All items should be inspected to the Bidders/Buyers satisfaction.

Some of the items may be sold subject to seller confirmation.  The Agent reserves the right to bid on behalf of the seller if necessary.

Participation in the Auction is at Bidder’s sole risk.  Seller and Agent, plus their agents, contractors and employees, shall have no liability on any basis.  All Real Property is offered in a “AS IS, WHERE IS” condition.  To the fullest extent allowed by law, Seller and Agent unconditionally disclaim any guarantee, representation, or warranty of every  kind, whether expressed, implied or statutory, whether oral or written, whether past, present, or future, with respect to all property Issues, except as expressly provided in the Sales Contract.

DISCLOSURES:  The Property will be offered for the sale and conveyed subject to all conditions, covenants, deeds, easements, reservations, restrictions, right-of-way, title exceptions and matters of record.  Maps, depictions and sketches in any materials related to the Property are for illustrations purposes only and Seller and Agent do not guarantee, represent, or warrants their accuracy or completeness, Residential dwellings built prior to 1978 may include lead-base paint.  Buyer of such Property must immediately execute a “Lead-Based Paint Waiver” in favor of Seller to be made part of the Sale Contract, thereby waiving Buyer’s right to conduct any risk assessment or inspection for lead-based paint hazards.  Every Bidder should read and understand lead hazard information pamphlet provided and the “Lead Warning Statement” in the Sale Contract.

REGISTRATION:  Any competent adult with a satisfactory photo identification who properly registers and complies with the Terms of Auction may bid.  Agent may refuse to register or expel any person who is disruptive, noncompliant, or previously caused a problem for Seller or Agent.  Bidder must present a cashier’s check in the amount specified under “Terms on Real Estate” to Agent at registration.  This must be in the form of cashier’s check, made payable to Bidder.  Any person intending to bid on behalf of another must present Agent with an executed, enforced, recorded ad unexpired power of attorney which is subject to Agent’s approval.  The requirement for Bidder registration may be waived by acknowledges receipt of the Terms of Auction and access to the Sale Contract and unconditionally and irrevocably agrees to be bound by both.

BUYER’S PREMIUM: a ten-percent (10%) buyer’s premium shall be in effect for the Auction and added to the amount of the highest bid to arrive at the total and final price for the Property (“Total Contract Price”).  Example.  If the Bidder/Buyer submits a top bid of $100.00, the contract purchase price will be $110.00, not $100.00, and the contract purchase price shall be due in accordance with the terms stated herein.

Agent’s discretion includes, but is not limited to, the auction method, bid-calling, bid increments and determining the buyer.  The decision of Agent is final regarding all matters that arise before, during, or after the Auction.  Sellers shall not bid. Bidder shall not retract any bid.  Bidder’s purchase shall be considered a single transaction whether of the whole or a fraction of the Property.  The sale of any fraction of the property shall not be contingent upon the sale of any other portion thereof, whether purchased by the same Buyer or not.

SALE CONTRACT:  This is a cash sale and not contingent upon any matter, including Buyer obtaining financing.  Buyer shall immediately execute the Sale Contract and all related documents presented by Agent to bind Bidder and Seller to the sale of the property.  Any Buyer purchasing on behalf of a business or arm of government (“artificial person”) shall immediately execute the Sale Contract in both the artificial person’s and buyer’s names, until such time as the artificial person presents Agent with acceptable, written evidence of the artificial person’s good standing in its state of formation, plus written authority, in a form acceptable to Agent, agreeing to be bound by the Sale Contract.  The Terms of the Auction are incorporated into the Sale Contract which defines the entire agreement between them, the Sale Contract shall control in all instances.  Buyer shall execute the Sale Contract and no additions, deletion, or revision shall be permitted.

DEPOSIT:  Buyer shall immediately pay Fowler Real Estate and Liquidation Auctioneers, Inc. a cashier’s check in the amount specified under “Terms on Real Estate”.  If for any reason Buyer fails to timely execute the Sale Contract or pay the deposit, Seller has sole discretion, to: (A) pursue all legal and equitable remedies available against Buyer, or (B) declare Buyer’s bid to be immediately forfeited, null and void, without any requirement of notice, and immediately re-sell the Property to another buyer.

Agent assumes no responsibility for accidents or injuries resulting from the use of any items bought or sold.  All firearms must sell to a legal resident aged 18 or over and subject to any background checks as required by Federal or State law.

ARBITRATION:  Any action, claim, controversy, counterclaim, dispute, or proceeding arising out of the Property Issues and involving Seller, Bidder, Buyer, or Agent, in any combination, whether controlled by federal or state law, and whether an issue of law or equity, including the determination of the scope and applicability of the agreement of arbitrate, shall first be determined and resolved by arbitration prior to any court action being filed.  Failure by any party to first submit to arbitration shall be grounds for dismissal from Circuit Court or Federal Court.  Judgment on the arbitration award may be entered in any court having jurisdiction.  The cost of arbitration, including the fees and expenses of the arbitrators, but not including the parties’ attorneys’ fees, shall initially be paid equally by them.  The prevailing party shall be entitled to collect from the other its full cost associated with the arbitration, including reasonable attorneys’ fees.  All aspects of any arbitration shall be permanently kept confidential and not disclosed in any form or manner to any entity, media, or person, and the parties shall jointly move the court entering judgment on the arbitration awarded to so order.  Any arbitration must be commenced within two (2) years from the date when the cause of arbitration accrues or it will be forever barred.  The right of arbitration shall accrue, and the two (2) year limitation period shall begin to run on the date the breach, damage, or injury is sustained and not when the resulting damage or harm is discovered.

CHOICE OF LAW, JURISDICTION AND VENUE:  Any Auction matter shall be exclusively construed and governed in accordance with the laws of the State of Arkansas.  The exclusive jurisdiction and venue for any controversy or claim between the parties shall be in Pike County, Arkansas.

MISCELLANEOUS:  The Terms of Auction shall be bind Bidders and their agents, assigns, attorneys, beneficiaries, directors, distributors, employees, executors, heirs, legatees, officers, representatives, shareholders and successors in interest.  No deletion, modification, supplement, or waivers of any provisions of the Terms of Auction shall be made, except by Agent’s written revision or announcement at the Auction.