Name Real Estate Auction -Hatley Motors & Vacant Lot
Auctioneer Orrell Auctions and Real Estate
Type Online-Only Auction
Date(s) 3/13/2021 - 5/12/2021
Bidding opens Sat Mar 13th at Noon Bidding closes Wed. May 12th at 11am
Preview Date/Time Drive by the properties at any time or call Jimmy Orrell,Auctioneer/Broker for an appointment
Checkout Date/Time Bidding closes Wed. May 12th at 11am
Location multi locations
Monticello, AR 71655
Buyer Premium 10% added to final bid = Contract Price
Description
Multi Property Real Estate Auction Bidding opens Sat Mar 13th at Noon and continues until 11am Wednesday May 12th. Extended descriptions of each property can be seen by clicking on the item then scrolling down REGISTER to bid at https://orrellauctions.hibid.com. End of Auction: Soft Close is activated. Explanation of Soft Close: Bidding starts Closing at 11am Wed. May 12th. Each item has its own clock. If an item gets a bid in the last 3 minutes of that item's countdown, 3 minutes gets added to the time on that item. The item will not close until 3 minutes have elapsed without a bid. VIEWING: You may drive by the properties at any time or make an appointment. To make an appointment to inspect, if you have problems registering or have questions, call Jimmy Orrell, Aucioneer / Broker at 870-723-9116
Auction Terms & Conditions General Terms and Conditions Real Estate Auction Terms will vary per property - be sure to review the terms specific to the property you are bidding on Summary: Property sells free and clear of all liens and encumberances, subject to Seller confirmation, "as is", by legal description, with no contingencies or warranties other than good title by Warranty Deed and Title Insurance on select properties) 10% buyer premium. Non-Refundable Down payment as earnest money day of auction may apply to specific properties, with balance due at closing in 30-45 days. Announcements on auction day take precedence over any prior oral or printed announcements. Details: Bidders must be registered with name, address, valid phone #, email address & credit card Subject to Sellers' Confirmation: Seller has up to 48 hrs. to accept or reject the final bid Selling at or above the minimum bid: means just that. The property will sell if it gets a bid for at least the minimum bid amount. If the property receives bids higher than the minimum, It will sell to the highest bidder above the minimum bid amount Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Purchase Agreement/Contract: At the conclusion of the auction, the successful bidder will sign a purchase agreement in the amount of their bid plus the 10% buyer premium. When accepted and signed by the seller, this agreement becomes the purchase contract. Down Payment as Earnest Money: (If applicable to the property), With purchase agreement, Bidder will submit a non-refundable downpayment to be deposited and escrowed in Orrell Auctions & Real Estate PLLC Trust Account. Down payment will be credited to buyer at closing or returned to the bidder if Seller rejects the bid. Balance of purchase price required in approximately 30-45 days at closing. Down payment is non-refundable. If you cannot close you will forfeit your down payment. Acceptable Currency for down payment: Cash, cashier's check. Or, good personal or company check pre-approved by auctioneer or accompanied by a bank letter guaranteeing payment. Warranties & Contingencies: 1. Property sells "as is" with no warranties from the seller other than good title. Inspections should be conducted before the auction as sale is not contingent on repairs. If you bid, you are agreeing that you have inspected or waive the right to inspect the property and that you will accept the Property in its current condition at the price you bid. 2. Financing: Property sells with no contingencies for financing, which should be arranged before bidding. If you bid then cannot secure financing and fail to close, you will lose your down payment/earnest money. 3. Corners of Property, if marked, is for your convenience only. Accuracy is not guaranteed. Bidders are responsible for verifying accuracy to their own satisfaction. Survey: Property sells by legal description on current deed and Drew County courthouse records. If new survey is desired or required by Buyer, new survey will be at Buyer's expense. Title: Seller will guarantee good title at closing by providing owner's title insurance and a warranty deed free of all liens and encumbrances but subject to any easements of record. Closing will be in approximately 30 - 45 days from auction. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, fees of Buyer's attorney and any other fees associated with Buyer's loan, if any. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation Property taxes will be prorated as of the date of closing. Use of this site is subject to the terms and conditions contained herein. Auctioneer reserves the right to edit the terms and conditions and individual auction pages may contain additional terms and conditions. It is the buyer's responsibility to review the terms and conditions prior to each use of this site. By bidding you acknowledge agreement and acceptance of all terms and conditions of this site and any revisions or changes thereof. Bidder requirements: In order to bid, you must be registered with name, address, valid credit card information, valid phone number, and valid email address. Due diligence: All merchandise is sold as is with no warranties. Bidder is responsible for his own inspection, determination of condition, value, and correctness of description. Do not bid if you are uncertain what you are bidding on. All sales are Final: Bidder understands that no refunds, exchanges, adjustments, charge backs, etc. will be allowed. Buyers Premium: A 10% will be added to the final bid price on each item. Winning Bidder Notification/Invoice: Upon close of the auction winning bidders will be contacted and arrangements made to sign the purchase agreeements and submit earnest money --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 20.00 1.00 USD
20.01 - 50.00 2.50 USD
50.01 - 150.00 5.00 USD
150.01 - 250.00 10.00 USD
250.01 - 600.00 25.00 USD
600.01 - 1,000.00 50.00 USD
1,000.01 - 12,000.00 100.00 USD
12,000.01 - 100,000.00 1,000.00 USD
100,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 10% added to final bid = Contract Price
Payment Terms
Down Payment as Earnest Money: (If applicable to the property), With purchase agreement, Bidder will submit a non-refundable downpayment to be deposited and escrowed in Orrell Auctions & Real Estate PLLC Trust Account. Down payment will be credited to buyer at closing or returned to the bidder if Seller rejects the bid. Balance of purchase price required in approximately 30-45 days at closing. Down payment is non-refundable. If you cannot close you will forfeit your down payment. Acceptable Currency for down payment: Cash, cashier's check. Or, good personal or company check pre-approved by auctioneer or accompanied by a bank letter guaranteeing payment.