Real Estate & Auction Company
Exclusive Right to Sale Real Estate at Public Auction
This Exclusive Right to Sale Contract hereby made this________ day of _____________ 2010
By and Between Auction One Las Vegas a licensed Auctioneer and Nevada Real Estate Brokerage;
_____________________________________________________hereinafter called the Seller(s).
_____________________________________________________hereinafter called the Buyer(s).
Has this day herby sold at Public Auction under the following terms & conditions?
Sales Price
Buyer(s) agree to purchase said real estate and pay therefore the sum of $ _____________________________ dollars
payable in full on or before ___________________________ 2010.
Offer & Acceptance
That the seller(s) in consideration of the sum of $_________________________ dollars as a (non-refundable)
Earnest Money Deposit will be held in trust by: First American Title Company and in part payment of the purchase
price has this day Sold at Public Auction and seller(s) hereby agree to convey by Grant, Sale, Bargin Deed to said
buyer(s), subject to no defects, liens, or encumbrances. Seller shall pay all current taxes and fees assessed against
the property up to the close of escrow.
Described Real Estate in Clark County, State of Nevada
Asser. Desc: Gowan Fort Apache- Phase 5 Unit E Plat Book 66 Page 83
Parcel # 138-08-219-014 Assr Lot 22 Block 15
Commonly Known as:
Address: 3700 Heather Lily Ct.
City: Las Vegas State: Nevada Zip: 89129
Seller(s) Default
If the seller(s) defaults in the performance and obligation of this contract on the seller(s) part at the time and in the
manner specified the seller(s) shall return the Buyer(s) deposit in full and all obligations of either party hereto will
cease. Seller(s) will then pay to Auction One Las Vegas any auction fees/commission due for auction services
performed, plus all cost of collection incurred by the company, including but not limited to all court cost, collection
fees and attorney’s fees.
Buyer(s) Default
Should buyer(s) default in the performance of this contract on his part at the time and in the manner specified, then at
seller(s) and Auction One Las Vegas option the deposit will be retained as partial liquidated damages, which retention,
however, shall not prevent suit by seller(s) and Auction One Las Vegas for specific performance of this contract? Out
of said liquidated damages and any other damages retained or recovered by seller(s), there will first be paid to Auction
One Las Vegas the auction fee/commission due for auction service preformed plus any and all legal expenses incurred
by Auction One Las Vegas any remaining balance shall be paid to seller(s).
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this page.
Seller ________ Seller ________ Buyer ______ Buyer ______
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Auction Terms & Conditions
Property will be sold “As-Is-Where Is” Cash Sale, with no warranties written or oral by Auction One Las Vegas or
the seller(s).
Buyer’s Premium
This sale of each property at Auction will provide that the Purchaser pay to the seller as part of the total purchase price
a Buyer’s Premium equal to 10 % of the high approved bid. The Buyer’s Premium will be added to the approved high
bid to determine the total contract purchase price. Financing (if any) is calculated on the total contract purchase price
and must close on or before 30 days of the auction date.
(Unless close of escrow is extended and approved by all parties)
Broker Participation
If the client of the Broker/Realtor is the high bidder for the property listed herein, execute the sales contract, such bid is
accepted by the seller and there is a close of escrow. The Seller(s) shall pay to Broker/Realtor a 2 % commission of the
high bid at the close of escrow. (No commissions shall be paid on the buyer’s premium amount)
Deposit
A (non-refundable) deposit of 10% of sales price $_____________ (Certified Funds) will be due immediately after
being declared the winning bidder and all contracts and disclosure forms have been signed and approved by seller(s).
Funds Made Payable to First American Title.
Close of Escrow
Close of Escrow shall be on or before 30 Days from the auction date.
Title Company
First American Title Company
City: Las Vegas State: Nevada
Possession of the property
Possession will be at the Close of Escrow.
Insurance
Seller(s) shall bare the risk of hazard loss until the close of escrow.
Buyer(s) shall bare the risk of hazard loss after the close of escrow.
No Contingency
This auction contract is Not Contigentgent on loan approval, appraisals, inspections or property condition.
This property is Sold “AS IS, WHERE IS” and is a Cash Sale with no warranty implied or written by seller(s) or
Auction One Las Vegas.
Auction Announcements have been furnished to all registered bidders prior to bidding at the auction.
The Auctioneer has provided to all bidders the terms & conditions prior to accepting any bids at the auction.
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this page.
Seller ________ Seller ________ Buyer ______ Buyer ______
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Auction Fee / Commissions
Auction One Las Vegas will be entitled to receive compensation as defined herein;
Upon the close of escrow, Auction One Las Vegas is entitled to a ____ % auction fee and or commissions, of the final
sales price for the auction services rendered.
Seller(s) and Buyer(s) hereby instruct and authorize the named title company to release the said auction fee and
commissions without further instructions required from seller(s) or buyer(s). Seller(s) and Buyer(s) agrees to release
named Title Company, and Auction One Las Vegas, Broker/Auctioneer/Owner, from any and all liability, losses,
expenses, fees, including but not limited to, court cost and attorney fees with the release of the said auction fee and
commissions. All fees and commissions due to Auction One Las Vegas shall be released by the assigned title company
of this transaction. It is understood and accepted by all parties to the contract that Auction One Las Vegas will order all
referral fees/commissions to be paid by the above escrow company only when all the terms and conditions of this
auction contract have been completed. Any valuation of the terms and conditions of this auction contract will result in
non payment of referral fee/commissions and all co-op broker agreements will be void.
Auction Subject to Bank Approval / Short Sale
This Auction is not subject to Bank Approval / Short Sale
It is hereby agreed upon by all parties that if this Auction is subject to a “short sale” all timelines and dates within this
sales contract may be subject to adjustments based upon the bank or lender approval date. The seller(s) shall supply
written authorization to Auction One Las Vegas to negotiate with their bank or lender if property is declared a short
sale. No third party to this contract shall negotiate any part or portion of the auction sale with the bank or
lender without the written authorization from Auction One Las Vegas.
Form of Deed
Seller will have (30) business days, (Unless Short Sale and a Bank or Lender Approval is required.) from the
approved contract date to convey good marketable title to buyer(s) through a Grant, Bargin, Sale Deed, as is customary
in the State of Nevada, the deed shall not be subject to defects, liens or encumbrances. Seller(s) agrees to furnish the
buyer(s) at close of escrow, at seller(s) sole expense, a CLTA owner title policy. If buyer(s) lender requires an ALTA
owner title policy, buyer(s) shall be responsible to pay the difference in the premium between the CLTA and ALTA
policies.
Seller(s) acknowledge that the seller(s) and Auction One Las Vegas must by law provide all state approved
disclosure forms and must disclose any known defects about the subject property. All state required discloser
forms have been provided to the buyer(s), their Broker/Realtor if any, at the contract signing. All State required
documents are signed, dated and shall be attached to this sales contract.
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this page.
Seller ________ Seller ________ Buyer ______ Buyer ______
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Disputes
The Contract of Sale specifies that the buyer(s), seller(s) and Auction One Las Vegas agree to submit any claim arising
out of a dispute within 30 days of close of escrow. All claims after this period are VOID per the contract of sale.
(If any disputes should arise following the auction, the Auctioneer records shall be conclusive.)
Construction
This contract shall be governed by and construed and enforced in accordance with the laws of the State of Nevada all of
the parties to this contract have participated fully in the negotiation and preparation hereof and, accordingly, and this
contract shall not be more strictly construed against any one of the parties hereto. In construing this contract the
singular shall be held to include the plural, the plural shall be held to include the singular and the use of any gender
shall be held to include every other gender. The caption of the various paragraphs of this contract are inserted for the
purpose of convenient reference only and shall not affect the construction or interpretation to be given of the provisions
hereof or be deemed in any manner to define, limit, modify, or prescribe the scope or intent of this contract or any
provision hereof.
Severability
In the event any term or provision of this contract be determined by appropriate judicial authority to be illegal or
otherwise invalid, such provision shall be given its nearest legal meaning or be constructed as deleted as such authority
determines, and the remainder of this contract shall be construed to be in full force and effect.
Notices
All notices, demands and communications to be given to or by any of the parties hereto shall be deemed to have been
properly given if sent by facsimile upon receipt of proof of delivery, by messenger, by registered or certified mail,
return receipt requested, postage prepaid, or by nationally overnight service.
By participating in the auction all parties have agreed to all the terms & conditions of the auction and make
representations as set out herein. These terms are legally binding and if you violate any of them, Auction One
Las Vegas and it’s agents, and representatives hereafter are referred to as “AUCTIONEER” may seek legal
relief, including but not limited to reporting your conduct to the appropriate law enforcement entities. Please
note that these terms include an agreement by which you indemnify the auctioneer.
Seller ________ Seller ________ Buyer ______ Buyer ______
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this page.
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Agency Relationships
Seller(s) Broker
A Seller who lists property for sale at auction with Auction One Las Vegas (Broker/ Auctioneer) establishes an agency
relationship with Auction One Las Vegas. Auction One Las Vegas does not represent the buyer(s) at the Auction. The
Auctioneers relationship is disclosed and confirmed in both the property packet and the Contract of Sale (Contract).
Auction One Las Vegas must disclose to the seller(s) information provided to him or her by the buyer(s), including
buyer(s) income, motivation, and maximum price the buyer(s) can or will pay in order to negotiate the best price,
terms, and least costs for the seller(s). Auction One Las Vegas and seller(s) are responsible for disclosing pertinent
facts relating to the property, which have been disclosed by the seller(s). Auction One Las Vegas acts exclusively as a
seller(s) Auctioneer /Broker in conducting all of our real estate auctions.
Buyer(s) Agent
A real estate broker can agree to act as an agent for the buyer(s) (Buyer's Agent) only if the buyer(s) consents to that
representation in writing. The agreement between the buyer(s) and broker serves as a contract between them,
establishing an agency (fiduciary) relationship with the broker, and should specify the broker's duties and how the
broker will be paid. The buyer(s) agent acts solely on behalf of the buyer(s). Buyer(s) agents do not represent the
seller(s). The buyer(s) may be legally responsible for the words and actions of the buyer(s) agent (and his or her sales
associates). A buyer(s) agent must disclose to the buyer(s) information provided to him or her by the seller(s), or the
seller(s) agents, including seller(s) motivation, previous results of negotiation with other buyer(s), and minimum price
the seller(s) will take to negotiate the best price, terms, and least costs for the buyer(s). The above duties of the agent in
a real estate transaction do not relieve a seller(s) or a buyer(s) from the responsibility to protect their own interests.
Buyer(s) and Seller(s) should carefully read all agreements to assure that they adequately express their understanding of
the transaction. A real estate agent is a person qualified to advice about real estate in general only. If tax, legal, or other
more specific advice is desired, buyer(s) and seller(s) should consult a competent professional.
Auction One Las Vegas represents the seller(s) only and expressly declines any offers of sub agency.
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this page.
Seller ________ Seller ________ Buyer ______ Buyer ______
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Time is of the Essence
Time is of the Essence of this contract and of all the conditions hereof.
In Witness whereof the parties have hereunto subscribed their names in this day and year first above written:
Each party acknowledges that he/she has read, understood, and agree to each and every provision of this contract.
Seller(s) ____________________________________ Buyer (s) ________________________________________
Seller(s) ____________________________________ Buyer (s) ________________________________________
Address __________________________________ Address ________________________________________
__________________________________ _________________________________________
Phone ( ) _______________________________ Phone ( ) _____________________________________
Cell ( ) _______________________________ Cell ( ) _____________________________________
Realtor ___________________________________ Broker _________________________________________
Auctioneer ________________________________ Date: Month __________ Day_____ Year 2010
Auction One Las Vegas
Time: ________________ AM ___ PM ___
Real Estate & Auction Company
7472 West Sahara Ave. Suite 102 C Las Vegas, Nevada 89117
Office (702) 992-6545 Fax (702) 948-0486
www.AuctionOneLasVegas.com
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