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11. BUYER’S AGREEMENT | TERMS OF SALE. By completing these Terms of Sale as part of the registration process, bidder hereby acknowledges it has entered into a binding agreement with Platinum whereby bidder agrees to perform as stipulated herein. Such performance includes bidder - should it become the high bidder/buyer - signing the Auction Purchase Contract and successfully closing on the Property as instructed herein. Any deviation by bidder/buyer from these Terms of Sale will therefore constitute a breach of its agreement with Platinum, for which Platinum may seek relief or remedy using all available legal methods, including but not limited to pursuing a default by bidder/buyer, as such term is defined in Section 12, Default.
12. DEFAULT. Should the buyer not comply with these Terms of Sale and as a result fails to close on the Property (collectively, “Default”), Platinum shall (whether directly or on behalf of Seller) retain as initial damages - and the buyer shall forfeit – its Purchase Deposit. Further, Platinum, the Auctioneer and/or Seller may pursue all available legal remedies related to buyer’s Default.
13. PROPERTY PREVIEWS. Bidders are encouraged to preview the Property. Refer to the Property preview schedule (listed on the Property’s page on Platinum’s website, within the Luxury Auction® Bidder’s Brochure and/or in various promotional materials). Contact Platinum for questions regarding Property previews.
14. BROKER PARTICIPATION INVITED. Any licensed real estate agent is eligible for a commission equal to two and one- half percent (2.5%) of the high bid price, provided that the agent completes the following tasks:
a) Acts as the sole, procuring cause of the successful high bidder (this includes the agent escorting the bidder during its first preview of the Property)
b) Properly registers the successful high bidder using Platinum’s Buyer’s Broker Form (available upon request)
c) Attends the Auction with the successful high bidder (unless agent has a written, excused absence from Platinum in advance of the Auction, or if the bidder is bidding remotely)
All Bidder Broker Forms MUST be delivered to Platinum before the deadline noted on the form. Forms may be e-mailed to inquire@platinumluxuryauctions.com, or faxed to 305.744.5221 (e-mail strongly preferred). Any agent acting as a principal in the purchase of the Property cannot receive a commission. Any and all commissions are to be paid only upon successful transfer of title and closing of the Property.
15. BIDDER’S BROCHURE | PROMOTIONAL MATERIALS. All information contained in the Luxury Auction® Bidder’s Brochure or in any other materials promoting the Auction/Property was derived from sources deemed reliable but is not guaranteed. Prospective bidders should perform their own due diligence.
16. RECORDING. Platinum may elect to record the Auction through the use of audio/video equipment in order to create a formal record of the bids. No other party is authorized to record or report on the Auction in any manner, without exception. Cellular phones, smartphones, “iDevices,” tablet computers and similar devices are prohibited during the Auction, unless expressly authorized by Platinum in writing.
17. AGENCY DISCLOSURES. Property listed and offered for sale by Legacy Properties West Sotheby’s International Realty (EC#100042511). Listing Agent John Zachary Morse (IA#100022681). Platinum Luxury Auctions LLC is a Registered Foreign LLC in the state of Colorado (ID#20181067187) performing auction and auction-marketing services as part of this transaction, and is not performing any real estate brokerage services where prohibited. Sotheby’s International Realty, the Sotheby’s International Realty logo and affiliate logos are registered (or unregistered) service marks used with permission. Neither Sotheby’s, Sotheby’s International Realty affiliates LLC, nor any of their affiliated companies is providing any product or service in connection with this event other than as required by law.
IMPORTANT NOTE: THE PROPERTY IS SUBJECT TO BIDS AND/OR TO SALE PRIOR TO THE AUCTION. THIS AUCTION ALSO FEATURES AN OPENING BID INCENTIVE PROGRAM (“OBIP”). A BIDDER WHO SUBMITS AN OPENING BID CAN EARN A SUBSTANTIAL DISCOUNT ON ITS AUCTION PURCHASE PRICE! REFER TO THE ATTACHED OBIP FORM FOR DETAILS.
By Signing Below, I signify that I have read and agree to comply with these Terms of Sale in their entirety.
Bidder Signature Print Name Date (mm/dd/yyyy)
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