Lot # : 1 - 3 Bedroom Bungalow: 47 Wood Islands Rd, Montague

TERMS AND CONDITIONS – ONLINE REAL ESTATE AUCTION Please ensure that you carefully review and understand the Terms and Conditions of this online real estate auction prior to registering as a Bidder. Registering to bid in this Online Real Estate Auction confirms that you agree to abide by the following Terms and Conditions. In the following Terms and Conditions, the real property offered for sale in this online real estate auction is referred to as the "Real Property"; the party offering the Real Property for sale in this online real estate auction is referred to as the "Seller"; an individual who registers to place bids in this online real estate auction is referred to as the "Bidder"; the Bidder who places the highest bid on a lot in this online real estate auction is referred to as the "Buyer" once their bid is accepted by the Seller as the winning bid; and Moe's Auction House (Moe's Auctioneering Service Inc.) is referred to as the "Auctioneer". Please note that any Buyer may be superseded by a subsequent Buyer if the preceding Buyer in question defaults on the purchase as described in Section 22 of the Terms and Conditions. *****PLEASE READ (Updated May 15, 2024)***** (1) ELIGIBILITY AND UNDERSTANDING: Prior to registration, Bidders must be of legal age and must carefully read and comprehend these Terms and Conditions for the online real estate auction. (2) PRE-AUCTION OFFERS: The Seller reserves the right to receive and accept or reject any offers properly presented prior to the start of the live online auction closing period. All offers submitted prior to the start of the live online auction closing period are subject to the same Terms and Conditions as apply to the online real estate auction, such as Buyer's premium (refer to Section 16 of these Terms and Conditions) and no contingencies (refer to Section 18 of these Terms and Conditions). If an offer is accepted prior to the start of the live online auction closing period, registered Bidders will be notified, but the contract purchase price will remain confidential. (3) REGISTRATION TO BID IN ONLINE REAL ESTATE AUCTION: Registration is required prior to bidding in this online real estate auction. It is the sole responsibility of the Bidder to ensure that they have successfully registered to bid in the auction prior to the time that the auction starts closing. (4) BIDDER INFORMATION AND CREDIT CARD ON FILE: All Bidders are required to complete the Bidder information form and furnish valid credit card details to Moe's Auctioneering Service Inc., which will be kept on file by the Auctioneer within secure auction management software associated with the HiBid auction platform. This information is required for identity and age verification purposes. Our system will authorize the Bidder's credit card on file, but the Auctioneer will only apply charges to the card if the Bidder successfully places the highest bid on one or more of the lots for sale in the auction and has their bid accepted by the Seller as the winning bid (refer to Section 15 of these Terms and Conditions). (5) QUALIFIED BIDDERS: The Auctioneer reserves the right to refuse to register any Bidder or to remove any Bidder from this online real estate auction for any reason and/or to request additional information from any Bidder. (6) ONLINE AUCTION DATE(S), TIME(S), AND CANCELLATION: The Auctioneer reserves the right to change the date(s) and/or closing time(s) for this online real estate auction, and/or to cancel this real estate auction, at any point and for any reason. (7) BID INCREMENTS AND BIDS: The Auctioneer has the sole discretion to set bid increments for this online real estate auction and to determine the highest bid. The Auctioneer reserves the right to modify the bid increment settings for this real estate auction at any point and for any reason. (8) SOFT CLOSE BIDDING EXTENSION: Bidding in this online real estate auction is a timed event that uses a "soft close" bidding extension format. Live online bidding for this auction will begin closing at the date and time specified in the details provided for the auction online at https://moesauctions.hibid.com. In the event that a bid is placed on a lot within the final 5 minutes of the auction closing period for that lot, the bidding time for that lot will be extended by an additional 5 minutes. If any further bidding occurs, the bidding extension timer will add another 5 minutes. If no further bidding activity occurs, the lot will close when the timer runs out. The Auctioneer reserves the right to modify the soft close bidding extension settings for this real estate auction at any point and for any reason. (9) RESERVE PRICE MUST BE MET: The Auctioneer has, on behalf of the Seller, set a reserve price for the Real Property that is for sale in this online real estate auction. The reserve price is the minimum purchase price that the Seller would be willing to accept from a Buyer. Bidders will be notified if/when the reserve price is met. If the reserve price is not met, the Seller is not obligated to sell the Real Property, even to the highest Bidder. (10) PROPERTY INFORMATION PROVIDED BY AUCTIONEER AND BIDDER RESPONSIBILITY TO EXERCISE DUE DILIGENCE: The Auctioneer provides property information that is believed to be accurate, but it is not guaranteed. Bidders may submit specific information requests to the Auctioneer by phone (902-330-MOES [6637]) or email (support@moesauctions.com). Any condition statement or other information provided by the Auctioneer to a Bidder, as a courtesy to a Bidder, is only an opinion and should not be treated as a statement of fact. The Auctioneer shall have no responsibility or liability for any error or omission regarding the condition of any Real Property nor any other items/lots sold in our auctions. Bidders are responsible for exercising their own due diligence prior to placing any bid(s) on the Real Property offered for sale in this online real estate auction. Bidders are encouraged to conduct their own investigations and inspections prior to bidding. (11) REAL PROPERTY BEING SOLD "AS IS, WHERE IS": The Real Property and all improvements, if any, are being sold "as is, where is" with no representations or warranties, either express or implied. By bidding in the online real estate auction, the Bidder acknowledges that they are satisfied with the Real Property and agree to purchase it "as is, where is" if they place the winning bid. Information provided by the Auctioneer is believed to be correct but is not guaranteed (refer to Section 10 of these Terms and Conditions). (12) RIGHT(S)-OF-WAY, EASEMENTS, AND COVENANTS: The Real Property is being sold subject to any or all right(s)-of-way, easements, and/or covenants (IF APPLICABLE). Bidder is responsible for doing their own property investigations prior to bidding on the Real Property. (13) SELLER CONFIRMATION AND ACCEPTANCE OF WINNING BID: The Real Property is being offered by the Seller for sale in an online real estate auction. Bids will be subject to approval by the Seller, and the winning bid is subject to Seller confirmation and acceptance. (14) SUPERSEDENCE OF BUYER: Any Buyer may be superseded by a subsequent Buyer (e.g., the Bidder with the next highest bid) if the preceding Buyer in question defaults on the purchase as described below in Section 22 of these Terms and Conditions. (15) NON-REFUNDABLE DEPOSIT TO BE CHARGED TO BUYER: A non-refundable $1000 deposit will be automatically charged to the Buyer's credit card on file (refer to Section 15 of these Terms and Conditions) immediately after the online real estate auction closes, and the Auctioneer will send an electronic receipt to the Buyer via email shortly thereafter. This non-refundable deposit can be applied as a partial down payment toward the total purchase price for the Real Property, provided that the Buyer completes (i.e., closes) the real estate purchase transaction on or before the closing/settlement date set forth in the Offer to Purchase / Agreement of Purchase and Sale (refer to Section 17 of these Terms and Conditions). However, the Buyer shall forfeit this non-refundable $1000 deposit if the Buyer fails to complete (i.e., close) the real estate purchase transaction or before the closing/settlement date set forth in the Offer to Purchase / Agreement of Purchase and Sale (refer to Section 22 of these Terms and Conditions). (16) BUYER'S PREMIUM: A 1% Buyer's premium will be added to the winning bid to determine the contract purchase price for the Real Property. For example, if the winning bid is $100,000, a Buyer's premium of $1,000 will be added to the purchase price such that the contract purchase price (as specified in the Offer to Purchase / Agreement of Purchase and Sale [refer to Section 17 of these Terms and Conditions]) would be $101,000. The Buyer will be required to sign a Buyer's premium agreement upon execution of the Offer to Purchase / Agreement of Purchase and Sale (refer to Section 17 of these Terms and Conditions). (17) METHOD OF SALE AND EXECUTION OF OFFER TO PURCHASE / AGREEMENT OF PURCHASE AND SALE: If the Seller accepts the highest bid, the Auctioneer will notify the winning Bidder (i.e., the Buyer) by email that they placed the winning bid. The Auctioneer will also provide further instructions, by email, to the Buyer regarding the required next steps to complete the purchase. The Buyer's email address that the Auctioneer will use for these notification/communication purposes will the same email address that the Buyer used to register as a Bidder in the online real estate auction. Winning bids may not be assigned except to entities that the Buyer owns the majority interest in. The Buyer will have until 5:00 PM (Atlantic time) on the first business day following the date that the auction closes to execute an Offer to Purchase / Agreement of Purchase and Sale with Gold Key Realty. As part of this contract execution process, the Buyer will be required to provide Gold Key Reality with a copy of photo identification (e.g., driver's licence), occupation details, and contact information for each person who will be named as a purchaser in the Offer to Purchase / Agreement of Purchase and Sale. The real estate purchase closing/settlement date set forth in the Offer to Purchase / Agreement of Purchase and Sale must be no more than 45 days after the date that the online real estate auction closes (refer to Section 21 of these Terms and Conditions). As described in Section 15 of these Terms and Conditions, a non-refundable $1000 deposit will be automatically charged to the Buyer's credit card on file immediately after the auction closes and can be applied as a partial down payment toward the total purchase price for the Real Property. A down payment of 5% of the purchase price will also be required from the Buyer, with certified funds due to Gold Key Realty by 5:00 PM (Atlantic time) on the third business day following the date that the auction closes. The Buyer will be required to produce qualification or proof of funds upon execution of the Offer to Purchase / Agreement of Purchase and Sale. A Buyer's failure to enter into a contract with Gold Key Realty within the specified timeframe may result in legal action against the Buyer. (18) NO CONTINGENCIES: The Buyer's Offer to Purchase / Agreement of Purchase and Sale shall not be subject to any Buyer contingencies for financing, appraisal, surveys, inspections, soil testing, or any other contingencies. (19) AGENCY: The Buyer will be required to sign an agency disclosure form stating that the Buyer is aware that the Auctioneer represents the Seller and the Seller's interest in the transaction. (20) BUYER'S AGENT'S FEE: Buyer agents holding a Real Estate Licence will need to be disclosed to the Auctioneer in writing 48 hours prior to Bidder registration in order the agent to be eligible for a broker participation fee of 1% of the winning bid price, or to properly present any pre-auction offers on behalf of their clients. If these steps are not completed, no participation fee will be paid - NO EXCEPTIONS. (21) DATE FOR COMPLETION (CLOSING) OF REAL ESTATE PURCHASE TRANSACTION: Completion (i.e., closing) of the real estate purchase transaction by the Buyer is to take place no more than 45 days following the close of the online real estate auction. TIME IS OF THE ESSENCE! (22) BUYER DEFAULT ON PURCHASE: If the Buyer's credit card on file is declined when the Auctioneer attempts to charge the non-refundable deposit (refer to Section 15 of these Terms and Conditions), the Buyer may be considered to have defaulted on the purchase and will be at risk of forfeiting their opportunity to purchase the Real Property. TIME IS OF THE ESSENCE with regards to the completion (i.e., closing) date for the real estate purchase transaction (refer to Section 21 of these Terms and Conditions). If the Buyer fails to complete (i.e., close) the real estate purchase transaction on or before the closing/settlement date as set forth in the Offer to Purchase / Agreement of Purchase and Sale, the Buyer will be considered to have defaulted on the purchase; as a consequence of defaulting, the Buyer will forfeit their non-refundable $1000 deposit (refer to Section 15 of these Terms and Conditions) as well as their opportunity to purchase the Real Property. (23) DATE BUYER TAKES POSSESSION OF REAL PROPERTY: The Buyer will take possession of the Real Property upon the date that the Buyer successfully completes (i.e., closes) the real estate purchase transaction, subject to any existing leases (IF APPLICABLE). (24) LIABILITY DISCLAIMER: Moe's Auctioneering Service Inc. and its employees shall not be held liable for any losses, damages, accidents, or injuries occurring on Auction House premises or on any other premises that are being used in relation to an off-site auction hosted by the Auctioneer (if applicable) during scheduled preview events, scheduled pick-up events, drop-in visits, or at any other time. The Bidder, and any companion(s) of the Bidder (if applicable), shall be at their own risk and liability whenever on Auction House premises and whenever on any other premises that are being used in relation to an off-site auction hosted by the Auctioneer (if applicable) and shall hold the Auctioneer harmless for any injuries sustained and/or for any property loss or damage resulting from any cause. For further clarity, no claims can be made against the Auctioneer, or the Auctioneer's agents, employees, or principals, for any injuries sustained and/or for any property loss or damage resulting from any cause. The Bidder, and any companion(s) of the Bidder (if applicable), shall be held responsible for any damage that they may cause to property that is owned by the Auctioneer and/or any property that is in the Auctioneer's possession on behalf of a consignor/seller. (25) SYSTEM FAILURES OR MALFUNCTIONS AND USER ERROR: For internet-only auctions, the Auctioneer reserves the right to cancel and/or reopen the auction in the event of system failures or malfunctions. The Auctioneer also reserves the right to extend bidding, delay bidding, or cancel bidding, without any notice to registered Bidders. The Auctioneer cannot, and shall not, be held responsible or liable for any interruption in service or HiBid system errors, malfunctions, and/or omissions (including, but not limited to, faulty equipment, failure of equipment, faulty software, failure of software, lack of internet service connections or signals, or failure of any online bids that are not relayed on time to the Auctioneer) and does not guarantee continual, uninterrupted, or error-free service or use of the HiBid website. Bidders acknowledges that this auction is conducted electronically and relies on hardware and software that the Auctioneer does not operate and uses as a third-party service, and that this hardware and software may malfunction without warning. The Auctioneer cannot, and shall not, be held responsible or liable for any user error made by a Bidder or Buyer using the HiBid website, including incorrect or accidental bid placements. All sales are final. (26) BIDDER RESPONSIBILITY ACCOUNT SECURITY AND FOR BIDS PLACED: The security of Bidder account information is the sole responsibility of the Bidder, and Bidders are responsible for any and all bids placed under their bidding number/username and password. If at any time you feel that your Bidder number/username, password, or other Bidder account information may have been compromised due to lack of security on your part, you must notify the Auctioneer immediately. (27) WINNING DETERMINATION: If you are new to this auction site, you might encounter a notice stating "MAY HAVE WON" in response to a bid that you placed. The Auctioneer has the sole discretion to determine the highest bid. Bids will be subject to approval by the Seller, and the winning bid is subject to Seller confirmation and acceptance.