Bidder:__________

 

 

Bidder/Buyer Agreement

 

1.        All purchases are sold “AS-IS, WHERE IS” and with no warranties or guarantees of any kind either expressed or implied made by seller or Jim and Ron’s Auto Sales (hereinafter referred to as auction).  In no even shall auction, seller, or any employee, agent or associate of auction be responsible or liable for any such warranties, guarantees or genuineness or description on any item for sale.

2.        All statements printed in ads, brochures, signs, and vehicle cards, as well as verbal statements made by the auctioneer or staff or announcements made on the date of sale, have come from the seller/auction, and that auction has not independently verified same.  Auction assumes no responsibility or liability for representations made by any seller/owner and printed information in ads, brochures, signs, and vehicle cards.  Bidder/Buyer acknowledges by signing this form that he/she/it will not hold auction responsible for any presentations or statements made by anyone, before, during or after the sale about the vehicles being sold.

3.        All payments must be made with good funds which are defined as cash, certified checks, or personal/company check backed by an irrevocable bank letter of guarantee state the amount to honored by the bank.  Drafts are not accepted.  Execution of this agreement shall constitute written permission for auction to obtain credit report on bidder/buyer.  No auction item can be removed from the premises before making settlement.  Titles for any titled item purchased may be withheld until bidder/buyer/buyer’s funds clear the seller/owners or auctions bank account.  All cash payments of $10,000.00 or more are required to be reported the federal government subject to applicable laws.

4.        Unless agreed otherwise in writing, bidder/buyer agrees that all purchases shall be removed from the sale area by the bidder/buyer at bidder/buyers expense immediately following the settlement and sale, and if not so removed within 48 hours of the date of sale, bidder/buyer may be subject to storage fees.  Auction may remove the item with all costs of moving and storage to be paid by the bidder/buyer.  Bidder/buyer agrees that auction has no liability for loss or damage to items left with auction at any place of auction and that bidder/buyer shall maintain insurance to cover any items purchased at the sale.

5.        If any of the terms of sale contained herein, or in any instrument collateral hereto, are not complied with by the bidder/buyer, in addition to other remedies available by law to auction and/or the seller/owner (including the right to hold bidder/buyer liable for the bid price).  Auction and or seller/owner at its option may do either of the following: (1) cancel the sale and retain a liquidated damages all payments made by bidder/buyer, or (2) resell the article on 5 days written notice to the bidder/buyer at a private or public sale for the account of and at the risk of the bidder/buyer and in any such even the bidder/buyer shall be liable for any deficiency plus all costs for such reselling including moving and storage and the entry fees and commissions for the first and second sale and all reasonable attorney fees and court costs incurred.

6.        All terms of sale posted on the auction premises, printed in sale brochures, forms, signs, publicly announced, or otherwise published are incorporated herein by reference.

7.        If any check given in payment is dishonored for any reason, including but not limited to, insufficient funds, stop payment or the like, bidder/buyer agrees whether such check is signed by bidder/buyer as maker or endorser, that is such check is placed in the hands of an attorney for collection, to pay all reasonable attorney’s fees incurred, together with all court costs and associated expenses in the even suit is instituted.

8.        Unless the sale of an article is advertised or announced to be otherwise, each lot is offered subject to the reserve price of the seller/owner.  When an item is sold with reserve the auctioneer may bid on the seller/owner’s behalf in an amount not to exceed the reserve price.

9.        Bidder/buyer hereby irrevocably agrees and assents to the jurisdiction of the courts of Minnehaha County and the State of South Dakota in any claim or complaint or lawsuit against auction or any of its employees or independent contractors.  If bidder/buyer sues auction and does not prevail, bidder/buyer will reimburse auction for all reasonable legal fees and expenses connected with such suit.  Bidder/buyer hereby agrees that the laws of the State of South Dakota will govern and control in any lawsuits or court actions that the bidder/buyer or anyone else may institute against auction.

10.     Bidder/buyer shall be responsible for all city and state sales taxes, licensing and registration fees, and another other fees associated with sale and transfer of item.  Bidder/buyer also agrees to pay the buyer’s premium and any other applicable fees.

11.     Bidder/buyer agrees that its purchase of a vehicle shall be based relying entirely upon bidder/buyer’s own examination thereof.  Bidder/buyer acknowledges that all sales are final and “AS-IS, WHERE IS” without any warranty of vehicle history, condition, title, options, specifications, fitness, for a particular purpose, and or merchantability unless otherwise agreed to in writing on a separate document signed by an officer of auction.  Bidder/buyer accepts full responsibility and sole liability for the vehicle purchase as of the “sold” announcement and agrees to reimburse auction and or seller/owner for any expenses resulting from moving, storing, and otherwise handling such vehicle and assumes full responsibility and sole liability with respect to such vehicle prior to release thereof to bidder/buyer and removal by bidder/buyer from the auction premises.

 

 

Signature: X ______________________________________

 

Printed Name: X ___________________________________