Terms &

Conditions

TERMS & CONDITIONS (General)

SUMMARY OF TERMS AND CONDITIONS

Before bidding, you must thoroughly review the Property Information Package, including the Purchase Agreement. This review is essential to successfully navigating the auction process. The Purchase Agreement governs the transaction and supersedes all other terms, conditions, and printed materials.

To obtain the Property Information Package:

  • Create an account and log in at AuctionNow.bid, or
  • Email info@auctionnow.bid to request documents.

AUCTION MANAGER

  • Nick Pinotti, Realtor® and Auctioneer

  • Real Estate One, Inc.

  • (734) 707-1007

  • nick@auctionnow.bid

General auction information is available in the Frequently Asked Questions under “Learn” at AuctionNow.bid. We are available to assist you throughout the process.

KEY AUCTION TERMS

  • Buyer’s Premium: 10% of the highest bid or $5,000 minimum, added to the final bid.
  • Closing: Typically 30 days. Property sold As-Is, Where-Is, with no contingencies.
  • Deposit: 10% of purchase price or $5,000 minimum due upon winning bid.

TERMS AND CONDITIONS FOR TIMED ONLINE REAL ESTATE AUCTIONS

These Terms apply to online real estate auctions conducted by Nick Pinotti, Realtor® and Auctioneer, affiliated with Real Estate One, Inc.

Auctions may include residential, commercial, and multifamily properties, investment and land assets, and specialty and luxury real estate.

Bidders must acknowledge they have read, understood, and accepted these Terms and Conditions and any Additional Terms posted for a specific property.

AGENCY FOR SELLER

Real Estate One, Inc., its Realtors®, and the Auctioneer act exclusively as agents for the Seller.

AUCTION REGISTRATION

Registration at AuctionNow.bid requires:

  • Completed bidder account
  • Proof of funds sufficient for earnest deposit
  • Statement dated within 30 days and in the bidder’s name

Bidding access is granted after verification.

DOCUMENTS AVAILABLE

The Bidder Information Package, including the Purchase Agreement, is available at AuctionNow.bid.

Bidders are solely responsible for reviewing all documents before bidding.

DUE DILIGENCE / NO CONTINGENCIES

Property sold As-Is, Where-Is, without warranties.

Bidder responsible for all inspections, investigations, and verification.

No inspection, financing, or appraisal contingencies permitted.

Closing will not be delayed for due diligence.

By bidding, you confirm that you have independently verified all material facts.

EARNEST MONEY DEPOSIT

Amount: 10% of the purchase price, or a minimum of $5,000.

Delivery Method (All States): Deposit must be delivered to the designated closing title company or escrow agent via wire transfer or cashier’s check payable to the closing title company.

Timing: Due immediately upon winning bid; Purchase Agreement signed within 24 hours; Closing within approximately 30 days (see Purchase Agreement for exact date).

TITLE INSURANCE AND CLOSING

Seller shall provide a marketable title subject to existing easements, restrictions, and recorded matters.

Closing shall occur through the seller-designated title company or escrow agent acceptable to Real Estate One, Inc., using consistent procedures in Michigan and Ohio.

BUYER’S PREMIUM

Unless otherwise stated for a specific property, 10% of the highest bid, or a $5,000 minimum, is added to the bid and included in the total purchase price.

PURCHASE AGREEMENT REQUIREMENTS

The winning bidder must sign the Purchase Agreement within 24 hours, in the registered bidder's name only.

No assignment without Seller’s written consent.

The Purchase Agreement defines all binding obligations.

FAIR HOUSING COMPLIANCE

AuctionNow.bid and Real Estate One, Inc. fully comply with the Fair Housing Act.

No discrimination based on race, color, religion, sex (including gender identity and sexual orientation), familial status, national origin, or disability.

More information: https://www.hud.gov/program_offices/fair_housing_equal_opp

BIDDING TIME AND EXTENSIONS

All auctions follow Eastern Time.

Automatic extensions occur when bids are placed near closing.

BIDDER RESPONSIBILITY

Bids are final and binding and cannot be retracted or modified.

The bidder is responsible for all activity under their account.

TECHNICAL ISSUES

Neither AuctionNow.bid nor Real Estate One, Inc. shall be liable for internet failures, software or hardware errors, connectivity disruptions, or human/system errors.

COMMUNICATION CONSENT

By providing your contact information, you expressly consent to receive emails, calls, and text messages (SMS/MMS), including automated or prerecorded communications.

No purchase necessary. Reply STOP to opt out (immediate via text; other methods may take up to 30 days).

You confirm:

  • You are 18 years old or older
  • You are a U.S. resident
  • You are authorized to provide the contact information
  • The information provided is accurate

Carrier limitations may apply.

BROKERAGE IDENTIFICATION

All brokerage services are provided by:

  • Real Estate One, Inc.
  • Licensed Real Estate Broker
  • State of Michigan, Ohio, and cooperating jurisdictions