1.Bidder registration process
All bidders will be required to validate their account and post a Good Faith Authorization Charge prior to being able to place a bid.
The Good Faith Authorization Charge amount can be found listed under “Pre-Auction Authorization” in each auction. The Good Faith Authorization Charge will open once the auction begins.
What is a Good Faith Authorization Charge?
A Good Faith Authorization Charge will not go towards the purchase of the property, and it is not a deposit. It is a hold that allows us to validate your account and confirm that you are a serious bidder.
Once the authorization is approved, this charge will appear as a hold on your credit card. If you are using a debit card, the Good Faith Authorization Charge will appear as a pending transaction.
Accepted cards: Visa · Mastercard · Discover · American Express
Add a credit card to your account
Confirm your Good Faith Authorization Charge
Once bidding is open, you will be required to confirm that you want to participate in the auction by clicking “Bid Now.” If you have not added a credit card to your account yet, you will be prompted to do so at this time. Once your Good Faith Authorization Charge is posted, you will be able to participate in the auction.
2.Pre-auction offers
Pre-auction offers can only be submitted before the start of the online auction, via any of the following:
3.Buyer’s premium, title & settlement
- Buyer’s premium. 10% buyer’s premium or a $1,995 auction service fee, whichever is greater, will be added to the high bid.
- Title. Property will be sold with free and clear title.
- Settlement. 30 days from date of contract ratification.
4.Winning bidder obligations
- The winning bidder is required to sign and return a contract of sale no later than 4:00 PM EST on the day the auction ends.
- The winning bidder is required to tender the deposit within 24 hours via certified funds in the form of cash, cashier’s check, or bank wire.
- If either the deposit or contract is not received, the bid will be voided and Ashland Auction Group reserves the right to terminate the bidder’s account.
5.Bidding & soft close
- Bidders are bound by AshlandAuction.com’s Terms of Use.
- Ashland Auction Group will not be responsible for any errors in bidding, website failure, or internet disruption.
- Each bid made on a property in the last two minutes of an auction will add more time to the auction. This will continue indefinitely until the time expires without new bids being placed. A soft close ensures fairness and allows the highest bidder to win.
6.Property condition — sold “AS IS”
The property will be sold in “AS IS” condition, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions, or covenants of record affecting same. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law.
Property is sold subject to any Local, State or Federal Government Housing Code Violation Notices or Vacant House Notices issued by Local, State or Federal Government. In addition, the purchaser shall independently verify if a use and occupancy permit exists on the subject property by Local, State or Federal Government. It is the purchaser’s responsibility to obtain any use and occupancy permit, if needed.
The purchaser waives and releases the Trustee, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to, the environmental condition thereof.
If the Trustee/Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit, this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Trustee/Seller or Auctioneers.
All expenses, including real estate taxes, sanitary and/or metropolitan district charges, special assessment and private utility charges are to be adjusted to date of contract settlement and assumed thereafter by the purchaser. In the event that the property is occupied, the Purchaser is purchasing the property subject to the existing occupants of record. Purchaser is responsible for obtaining possession of the property. Purchaser assumes risk of loss from the date of contract ratification forward. Seller agrees to give rights of possession at time of contract settlement.
7.Settlement costs & transfer taxes
Recordation costs, transfer taxes and all other costs incident to settlement, to be paid by the purchaser. However, if the Property is improved residential real property, and if Buyer is a first time Maryland homebuyer as defined in MD Tax Property Code §13-203(b), as from time to time amended, who will occupy the Property as Buyer’s personal residence, then Seller shall pay the state transfer tax of 0.25% to the extent required by law.
If payment of the additional deposit, if any, or the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Time shall be of the essence.
8.Accuracy of information
Note: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Property dimensions, square footage and acreage are more or less. Number of bedrooms, number of bathrooms, number of levels in property and types of utilities should be independently verified by the bidder and are NOT guaranteed by Auctioneer and Seller. Photos placed on website are for information purposes only and shall be independently verified by buyer.
9.Tenant-occupied property
If the property is tenant occupied, it is being sold subject to the existing tenant or occupant in the property. The bidder shall independently verify all lease documents. Ashland Auction Group, LLC does not guarantee if the tenant is current on rental payments. Ashland Auction Group, LLC does not guarantee the occupancy status of a tenant, nor is Ashland Auction Group, LLC responsible for a tenant breach of lease agreement or vacating property during the advertised auction period, closing, or post-closing, if any.
Property is sold subject to any valid or invalid MDE Lead Certification from the Maryland Department of the Environment. Ashland Auction Group does not warrant the accuracy of any MDE Lead Certifications, if any. It is Buyer’s responsibility to verify with all Local, State and Federal Governments if any other licensing requirements are required.
10.Ground rent
All properties are being sold subject to any ground rent of record. In the event there is an error in the advertised ground rent or the contract states “Fee Simple”, the Buyer shall take title with the existing ground rent of record and there shall not be a monetary penalty to the seller. Prospective purchasers are encouraged to perform their own due diligence and inspections in advance of the auction.
11.Agency disclosure
Ashland Auction Group, LLC is acting as agent for the Seller in this transaction and/or auction. Ashland Auction Group, LLC is not acting as agent for any bidder or any successful bidder regarding pre-auction offers, offers online, onsite auction or post auction offers.
Any person or real estate agent submitting bids on behalf of a buyer, corporation, or other entity agrees to be personally liable for the payment of the purchase price and any related charges and the performance of all Buyer obligations under the Terms of Sale.
Registered brokers or agents who represent bidders for pre-auction, on-site auctions, online auctions, or post-auction listings are acting as an agent for the buyer and not a sub-agent for Ashland Auction Group, LLC.
12.Bidder liability & liquidated damages
Good Faith Authorization Charge required. All bidders will be required to post a Good Faith Credit Card Authorization Charge to establish themselves as a bona fide bidder. Failure to return an executed Contract of Sale, required addenda, and the stated deposit, as specified in the advertised listing, is a breach of the auction’s Terms of Sale. Bidders hereby authorize Ashland Auction Group, LLC to charge the credit card used to register for the auction to satisfy part or all of the liquidated damages owed to Ashland Auction Group, LLC.
BY PLACING A BID, BIDDERS ACKNOWLEDGE AND AGREE THAT A FAILURE TO EXECUTE A CONTRACT OF SALE WITH A DEPOSIT MAY RESULT IN SUBSTANTIAL ECONOMIC DAMAGES AND LOSSES OF TYPES AND IN AMOUNTS WHICH ARE IMPOSSIBLE, IMPRACTICAL, OR OTHERWISE EXTREMELY DIFFICULT TO ESTIMATE THEREOF.
ACCORDINGLY, IN LIEU OF ACTUAL DAMAGES OF SUCH DELAY, BIDDERS HEREBY AUTHORIZE ASHLAND AUCTION GROUP, LLC TO CHARGE THEIR CREDIT CARD TO SATISFY PART OR ALL OF THE LIQUIDATED DAMAGES, DUE TO ASHLAND AUCTION GROUP, LLC.
IN ADDITION TO THE LIQUIDATED DAMAGES WHICH IS NOT A PENALTY SET-FORTH ABOVE, BIDDERS ACKNOWLEDGE AND AGREE THAT THEIR NON-PERFORMANCE AND EXECUTION OF A CONTRACT OF SALE MAY RESULT IN ADDITIONAL DAMAGES TO THE SELLER AND ASHLAND AUCTION GROUP, LLC. SELLER AND ASHLAND AUCTION GROUP, LLC RESERVE THE RIGHT TO PURSUE ANY AND ALL LEGAL REMEDIES AVAILABLE AT LAW OR EQUITY, INCLUDING THE RIGHT TO MAINTAIN AN ACTION FOR SPECIFIC PERFORMANCE OR TO HAVE THE PROPERTY SOLD AT THE RISK AND EXPENSE OF THE NON-PERFORMING BIDDER. CONSEQUENTLY, BIDDERS AGREE TO PAY THE SELLER AND ASHLAND AUCTION GROUP, LLC FOR ANY COSTS ACTUALLY INCURRED BY THE NON-PERFORMING BIDDER RELATED TO THE HOLDING, MARKETING, OR RESALE OF THE PROPERTY.
Notice: Bids are legally binding. Bids placed on AshlandAuction.com are bound by AshlandAuction.com’s Terms and Conditions.
