Conditions

Auctiontrade.ai conducts Events solely on behalf of Seller, and is not acting as an agent for any Participant in any capacity. By registering for an Event or submitting an Offer at  or any other Auctiontrade.AI website (“Website”), Participant acknowledges having read and accepted these Terms. By submitting an Offer on a Property, Participant is deemed to have accepted any additional terms and conditions posted on the Property’s details page on the Website (“Property Page”) at the time the Offer was submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict.

Auctiontrade.AI  (www.auctiontrade.ai  Terms of use  and Privacy Statement (www.auctiontrade.ai ) are incorporated into these  Global Terms by reference.

1. ACCOUNT CREATION AND REGISTRATION PROCESS

Cancellation Fee. Upon registering for an Event, Participants may be required to place a deposit to secure compliance with these Terms (“Cancellation Fee”). The amount of the Cancellation Fee and acceptable payment methods will be shown during registration or otherwise agreed to by Participant in writing. Auctiontrade.ai  may modify, waive, or impose additional participation requirements for certain Properties or Participants in its sole and absolute discretion or at the request of Seller.

2. DUE DILIGENCE

Purchase Documents. Prior to submitting an Offer, Participants must review the purchase and sale agreement, any applicable addenda, Seller’s disclosure documentation, and all other transaction documents (collectively, “Purchase Documents”), on the Property Page. All Offers must be based on the posted Purchase Documents. Unless otherwise specified on the Property Page, the Purchase Documents are non-negotiable.

Due Diligence. It is each Participant’s responsibility to conduct its own due diligence and investigate all matters relating to each Property that Participant is interested in purchasing, including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. Participants must coordinate any such inspection with the Seller. In some circumstances Sellers may be unable to provide physical access for inspections and Participants must submit Offers accordingly at their own risk. All Offers should be based solely on Participant’s independent due diligence and any information contained in the Purchase Documents.

Property information has been gathered from a variety of sources and has not been independently verified by Auctiontrade. This information is provided on an “as is, as available” basis with all faults and defects. Participants may use this information for their own internal purposes and in a manner that is usual and customary for professionals within the ordinary scope of Participant’s licensed or regular business activity. Participants are encouraged to consult with a licensed real estate broker, contractor, attorney, financial advisor, tax advisor, and/or other relevant professionals.

Participant is responsible for all liability, damages and/or costs directly or indirectly arising from Participant’s inspection, visit, or investigation of the Property. Participant agrees to indemnify, defend and hold harmless Seller and Auctiontrade from any such liability, damages and/or costs, and to maintain all applicable policies of insurance insuring over such liability, damages and/or costs.

3. BUYING

Irrevocability of Offers. All Offers submitted during any Event are irrevocable, except where an Offer withdrawal option is expressly made available to Participants through the Website or as otherwise set forth herein.

Signing Purchase Documents. The final Purchase Documents will be emailed to Winning Bidder for electronic signature using the email address associated with Winning Bidder’s Auctiontrade account. Winning Bidder must sign the Purchase Documents within one business day after they are sent to Winning Bidder (unless a longer time frame is specified in writing by Auctiontrade, time being of the essence. If Winning Bidder fails to timely sign the Purchase Documents, Auctiontrade or Seller may declare Winning Bidder to be in default of these Terms and reject Winning Bidder ’s Offer.

Payment of Earnest Money Deposit. The Purchase Documents for each Property require the Winning Bidder to pay a deposit to the escrow/closing agent (“Earnest Money Deposit”). The amount of the Earnest Money Deposit is specified in the Purchase Documents or the Property Page for each Property. Unless otherwise specified in the Purchase Documents, the Earnest Money Deposit must be received by the escrow or closing agent no later than two business days after Winning Bidder receives wire instructions, time being of the essence. If the Earnest Money Deposit is not timely received, Auctiontrade.AI  or Seller may declare Winning Bidder to be in default of these Terms and Seller may reject Winning Bidder’s Offer.

Proof of Funds and Additional Information. Auctiontrade.AI or Seller may require Participants to provide proof of readily available funds and/or additional information at any time. Participants must respond to such inquiries within one business day, time being of the essence. If such proof of funds or additional information is not timely received, Auctiontrade or Seller may reject Winning Bidder’s Offer and declare Winning Bidder to be in default of these Terms. Winning Bidders wanting to take title in the name of an entity (not as an individual) may be required to provide entity formation documents and resolutions authorizing the purchase within the timeframe specified by Auctiontrade.AI  (which may be before or after the Event, in Auctiontrade’s sole discretion). Seller and/or the escrow/closing agent may require additional documentation prior to closing.

Buyer’s Fee. If the Property Page for a Property states that a buyer’s premium or transaction fee (“Buyer’s Fee”) applies to the sale, then Winning Bidder will be required to pay the Buyer’s Fee in addition to Winning Bidder’s Offer amount at closing. Unless otherwise specified for a particular Property, the Buyer’s Fee will be added to Winning Bidder’s Offer amount to establish the total purchase price payable by Winning Bidder.

The Buyer’s Fee, where designated by the Seller as applicable to any Property, is an additional charge that among other things may defray the Seller’s costs in the sales process including but not limited to the Auction Fee and brokerage fees that it may pay and/or to provide compensation for services provided by Auctiontrade to the successful buyer.

Short Sale Properties. Some Properties involve a sale in which the proceeds may fall short of the balance of debts secured by the Property (“Short Sale”). All Offers for Short Sale Properties are subject to the approval of the applicable lien holders (“Short Sale Lender’s Consent”). If Short Sale Lender’s Consent is not, the transaction will be cancelled and the Earnest Money Deposit will be returned to the Participant.

4. AUCTION EVENTS

Reserve Price. Except for Properties noted “Absolute Auction” or “Minimum Bid Auction”, all Properties in auction Events have a minimum selling price established by Seller (“Reserve Price”). The starting bid is not the Reserve Price. Except where prohibited by law, Auctiontrade may counter bid on behalf of Seller on any Property up to the amount of the Reserve Price (and no such bid will result in a sale of the Property). Seller may accept a bid that is below the Reserve Price in its sole and absolute discretion. Regardless of the Reserve Price, Seller is under no obligation to sell a Property until the Purchase Documents have been signed by the Seller.

Proxy Bids. Proxy Bids may be placed by bidders for select properties online when available. Auctiontrade’s system will place bids on your behalf up to the Proxy Bid amount during the auction in response to bids from other bidders and counterbids. If any Proxy Bids are equal to each other, the Proxy Bid entered shall be on behalf of the bidder that entered their Proxy Bid first in time. Bidders will be notified via email with the results of the auction as soon as the auction concludes. Proxy Bids are not disclosed to other bidders or the seller of the Property.

Minimum Bid Auction Events. Properties to be auctioned without a Reserve Price but with a minimum bid will be listed in a “Minimum Bid Auction” and will be sold to the highest bidder at or above the minimum bid amount.

Absolute Auction Events. Properties to be auctioned without a Reserve Price or minimum bid will be listed in an “Absolute Auction” and will be sold to the highest bidder.

Extension of Auction Time. In order to allow final bids to be properly input and processed during auction Events, Auctiontrade may extend the time for bidding on any Property in its sole and absolute discretion to allow for additional bids.

Subject to Confirmation. Seller may designate certain Offers as “Subject To Confirmation” in its sole and absolute discretion, in which case Winning Bidder’s purchase is subject to, and contingent upon, Seller approving the purchase in its sole and absolute discretion within the time period set forth in the Purchase Documents. Winning Bidder will receive a refund of monies deposited if Seller chooses not to approve the purchase.

5. BROKER/AGENT PARTICIPATION

Broker Participation. We encourage real estate broker and agent participation. A cooperating broker commission or referral fee may be offered for some Properties. Please see the applicable Property Page for details regarding broker/agent participation and cooperating broker commissions or referral fees related to a specific Property. No cooperating broker commission or referral fee shall be paid to any broker or agent representing the Participant unless expressly set forth in writing for the applicable Property.

For certain Events, a registered broker/agent may submit Offers on behalf of a buyer identified to Auctiontrade prior to Offer submission. By submitting an Offer on behalf of a buyer, the broker/agent (i) represents and warrants that the broker/agent has received all buyer authorizations and satisfied all legal requirements necessary to submit Offers on the buyer’s behalf, (ii) acknowledges and agrees that any Offer submitted will be binding upon the broker/agent and the buyer identified at registration to the same extent as if the buyer had submitted the Offer, and (iii) agrees to indemnify and hold harmless Auction.com from any breach of these representations or warranties.

Participant shall indemnify and hold harmless Auctiontrade.AI,  from any claims brought against Auctiontrade.AI by any broker/agent representing Participant.

6. GENERAL INFORMATION

General. Seller and Auctiontrade reserve the right to deny, limit, or impose conditions on submitting Offers and/or access to the Website or any Event at any time, for any reason (including, without limitation, Participant’s solvency, credit history, transaction history, and Cancellation Fee amounts). For example, we usually block most access to our site from outside the United States, Canada, Guam, Puerto Rico, and the U.S. Virgin Islands.

Auctiontrade may at any time postpone or cancel an Event, rearrange the order or sequence of the Properties in the Event, modify these Terms by posting notice of modification on the Property Page, remove any Property from the Event, or reject any or all Offers.

Auctiontrade Sellers and/or their agents may issue press releases and other public communications regarding the Event and/or any Property offered or sold during an Event.

These Terms and the conduct of each Event shall be governed by the laws of Florida except in the case of auction Events involving real property located in Florida.

Any information on any website, in any brochure, e-mail or postcard and any and all information available regarding the Properties shall not constitute an offer to sell or a solicitation of any offer to buy any of the Properties. Offers submitted or solicitations made during any Event are void where prohibited by law. If any sale would require registration or qualification under applicable state securities laws, no such sale may be consummated until such applicable requirements have been met.

As between Seller and Participant, no obligation to sell shall be binding on Seller unless and until the Purchase Documents have been signed and delivered by Seller and the Earnest Money Deposit has been received as required hereunder. After the Purchase Documents have been fully signed, the Purchase Documents shall govern the relationship between Winning Bidder and Seller and Auctiontrade  shall be released from any liability in connection therewith.

7. DISCLAIMERS; PARTICIPANT REPRESENTATIONS; CANCELLATION; LIQUIDATED DAMAGES

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.

Participant agrees to indemnify and hold harmless Auctiontrade.AI, LLC from any liability, damages and/or costs (including reasonable attorneys’ fees) arising from any first-party or third-party claim related to (i) Participant’s actions or inactions, (ii) any information or communications supplied by Auctiontrade.AI, LLC  or (iii) the condition or occupancy status of any Property.

CANCELLATION; LIQUIDATED DAMAGES. IF PARTICIPANT BREACHES THESE TERMS, (1) PARTICIPANT’S OFFER MAY BE REJECTED BY AUCTIONTRADE AND/OR SELLER, (2) THE PROPERTY MAY BE IMMEDIATELY SOLD TO ANOTHER PARTICIPANT OR PLACED IN ANOTHER EVENT, AND (3) PARTICIPANT WILL BE RESPONSIBLE FOR PAYING AUCTIONTRADE LIQUIDATED DAMAGES IN AN AMOUNT EQUAL TO THE GREATER OF THE AMOUNT OF THE CANCELLATION FEE SHOWN AT THE TIME OF REGISTRATION OR THE AMOUNT OF THE CANCELLATION FEE OTHERWISE AGREED TO BY PARTICIPANT IN WRITING.

AUCTIONTRADE IS AUTHORIZED TO CHARGE THE CREDIT CARD AND/OR ELECTRONICALLY DEBIT THE BANK ACCOUNT PROVIDED BY PARTICIPANT AT REGISTRATION OR RETAIN THE AMOUNT DEPOSITED WITH AUCTIONTRADE PURSUANT TO A SEPARATE WRITTEN AGREEMENT TO SATISFY ALL OR PART OF THE LIQUIDATED DAMAGES OWED BY PARTICIPANT. PARTICIPANT ACKNOWLEDGES THAT THE ACTUAL DAMAGES RESULTING FROM PARTICIPANT’S BREACH OF THESE TERMS WOULD BE DIFFICULT AND IMPRACTICAL TO CALCULATE, AND THAT THE AMOUNT EQUAL TO THE CANCELLATION FEE IS A REASONABLE PRE-ESTIMATE OF THE RESULTING DAMAGES TO AUCTIONTRADE AND IS NOT A PENALTY OR FORFEITURE.