DOUGET ESTATE AUCTION

TERMS AND CONDITIONS OF SALE

PAYMENT: All purchases must be paid for in American funds on sale day by cash or cashiers check. Visa, MasterCard, American Express and Discover cards will be accepted with proper identification.A bank letter must accompany all company or personal checks. NO BANK DRAFTS.

WARRANTY: Everything is being sold AS IS – WHERE IS, without warranty of any kind, as to usefulness or merchantability expressed or implied. Auction Company does not guarantee accuracy of descriptions, age, year makes, models or condition. All announcements made sale day take precedence over any printed material. All information in the advertising is from sourced deemed reliable and is believed to be correct, but the auction company shall not be liable for any errors in descriptions.  Bidder acknowledges that it is his responsibility to inspect all items for sale and make his own judgment prior to bidding. ALL SALES ARE FINAL!

OTHER: Merchandise becomes the buyers’ responsibility as soon as the auctioneer declares it “SOLD”. Auction attendee acknowledges responsibility for any personal injury and property damages and agrees to hold the auction company and its sellers harmless from any said incident. This list is subject to additions and deletions. Despite our efforts to avoid withdrawal of items from the sale list, we do not assume responsibility for items being withdrawn from sale.

SALES TAX: Sales tax will be added where applicable. Dealers purchasing for resale must provide a Certificate of Resale bearing your resale number. Failure to furnish this certificate will result in sales tax being added to all purchases.

BUYERS PREMIUM: A buyer’s fee of 10% will be added to all purchases except real estate.

REAL ESTATE TERMS

Successful bidder (buyer of the real estate) will be required to:

1.      DEPOSIT: Successful bidder shall deliver on day of sale to Pedersen & Pedersen Auctions, Inc. funds in the amount of $20,000 as an escrow deposit via cash, certified funds, cashier’s check, or PRE-APPROVED personal check. Personal checks MUST be accompanied by a bank letter stating that the account is in good standing with the bank and that the bank will honor your check in that amount. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING. If a successful bidder fails to close within the time specified, Seller shall have the right to terminate the Purchase Agreement and retain the down payment as liquidated damages in addition to other legal remedies or at Seller’s option, extend the closing past the designated closing date. However, a charge of 1% of the total contract price will be charged to the Buyer per month until closing.

2.      APPROVAL OF BID PRICE: Successful bidder will be required to enter into purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection. Real Estate sells subject to the owner’s confirmation with every intent to sell.

3.      EVIDENCE OF TITLE: Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar or related matters. Property is sold “As – Is, Where – Is” with no warranty of any kind expressed or implied.

4.      REAL ESTATE TAXES: Real Estate taxes to be pro-rated to day of closing.

5.      CLOSING: Closing shall take place within 30 to 60 days after the auction day, or as soon thereafter as Seller’s applicable closing documents are completed. Announcements on the day of the auction will state the projected closing date for each property.

6.      ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions.

ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECIDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company.

Location: 1315 South Lake Arthur Avenue, Jennings, LA 70546

Driving Directions: From Interstate 10 in Jennings take exit # 64 (LA 26 – Jennings/Elton exit) and proceed south on Highway 26 for 2.5 miles. The sale site is on the right.