Terms of the Sale MEMPHIS AUCTION AND REALTY

TERMS AND CONDITIONS OF SALE
MEMPHIS CITY SCHOOLS AUCTION

1384 FARMVILLE ROAD

Please note-All bidders and others that attend this auction preview or sale agree that they have read and fully understand these terms and conditions and agree to comply with them.

All items are being sold “As Is” and “Where is” without recourse.

Payment terms-Purchase price must be paid immediately. Methods of payment are: Cash, Cashier’s check, Personal or Company check. Personal or company checks must be accompanied by a bank letter of credit. All sales are final.

Announcements-Changes announced on sale day take precedence over any information previously provided.

Agency-The auctioneer is acting as the seller’s agent only and is not responsible for the acts of his principals.

Identification-All purchasers are required to present identification to receive a bidder’s number. The auctioneer has the right to remove anyone who is disruptive to the auction process or poses a risk to himself or others.

Additions or withdrawals-The auctioneer reserves the right to withdraw from the sale any of the items listed or to sell at auction items not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots.

Dispute between bidders-If any dispute arises between two or more bidders over who had the winning bid the auctioneer will decide who is the successful bidder or may immediately put the lot up for sale again and resell to the highest bidder. The decision of the auctioneer will be final and absolute.

Condition of items sold-The auctioneer will not be responsible for the correct description, authenticity, genuineness, or defect in anything being sold and makes no warranty in connection therewith. No allowance will be made or sale set aside because of any incorrectness, error in cataloguing, or any imperfection not noted. No deduction will be allowed on anything sold.

Additional terms and conditions-Any additional or changes to terms and conditions of sale will be announced prior to the auction.

Personal and property risk-Persons on site during inspection or the day of the auction or any other times assume all risks of damage to their property or injury to themselves. They specifically release the auctioneer and seller from any liability. Neither the auctioneer nor his principal will be liable by reason of any defect in or condition of the premises on which the sale is held.

Records-The record of sale kept by the auctioneer and Memphis City Schools will be taken as final in the event of any dispute.