BROKER DISCLOSURE REGARDING AGENCY RELATIONSHIP REPRESENTATION:
MICHAEL DEROSA OF MICHAEL DEROSA EXCHANGE, LLC IS AN AUCTIONEER AND LICENSED REAL ESTATE BROKER ACTING IN THE INTEREST OF THE SELLER AS A SELLER’S AGENT.
REAL ESTATE DISCLOSURE FORMS
EPA’s Lead Pamphlet for homes built prior to 1978
New York Agency Relationship Disclosure
New York State Housing and Anti-Discrimination Disclosure Form
Pennsylvania Consumer Notice
Agency Relationship Disclosure:
Please note that agents and brokers for Michael DeRosa Exchange, LLC represent the seller as a client for properties marketed/listed by Michael DeRosa Exchange, LLC and do not provide agency services to buyers express or implied, unless a dual agency relationship is agreed upon in writing. Any personal information that you provide to a listing agent/broker could be shared with the seller. Please avoid sharing any information that you do not want a seller to know.
Bidding Terms & Conditions:
All bids will be considered subject to the following Bidding Procedure and its Terms and Conditions shall be applicable to Bidders and to any bids they wish to submit: The acceptance of any bid shall be conditioned upon the following:
1. Acceptance of Bid:
After the close of auction Seller will decide if the Bidder is awarded the winning contract. The acceptance of any bid shall be conditioned upon the following signing by the Bidder and Seller of a written purchase contract of sale, including all required addenda and setting forth terms and conditions satisfactory to both parties. Therefore, the highest bid does not automatically award the bidder the winning contract to purchase. The Seller may select the winning bid based on the most favorable terms to Seller from each bidder’s offer, which may include the highest bid price, largest deposit amount, quickest payment method, and/or the least amount of contingencies. Seller specifically reserves the right to reject any and/or all bids.
2. Opening Bid:
The Opening Bid is not the Reserve Price. The system will counter you until you meet the unpublished reserve. If the Reserve Price is not met, Seller is under no obligation to sell the Property; however, Seller may accept a bid that is below the Reserve Price in its sole and absolute discretion.
3. Placing Bids:
All bids must be submitted online to auctioneer through its worldwide internet bidding portal. There will be no physical bidding on-site at the property. All bids will be presented to Seller by the Auctioneer. Send bidding inquires to Michael DeRosa, Auctioneer
Phone: 212-757-1550 Web: www.DeRosaExchange.com E-mail: MichaelDeRosa@TheInternationalExchange.us
A. Seller shall have sole and absolute discretion to accept or reject any bids received, prior to or after the bid deadline and reserves the right to extend bid deadline. Seller is not required to accept any particular bid, regardless of its terms, and has the absolute right and discretion to reject all bids.
B. After receipt of bids, Seller shall have the absolute right to conduct negotiations through Auctioneer to deal with one or more Bidders, to further negotiate the terms and conditions of any bid. In so doing, Seller shall have no obligations to negotiate, communicate or counter with each and every other Bidder, or with any Bidder.
C. Under no circumstances shall any verbal communications between a Bidder and Seller and/or any Agent or Broker constitute or create an obligation on the part of the Seller to sell any property to anyone under any terms.
D. All bids must be in writing; no verbal bids will be presented or accepted. The acceptance of any bid shall be conditioned upon the following signing by the Bidder and Seller of a written purchase contract of sale, including all required addenda and setting forth terms and conditions satisfactory to both parties.
E . The Designated Escrow Agent and Bank for the Bidding Deposit is as follows: Bidders Deposit shall be made payable to: Michael DeRosa Exchange, LLC (Escrow Agent) / Manufacturers & Traders Trust Co. (Bank).
F. In the event an accepted bid does not result in a closed transaction, or Seller rejects bids, Seller reserves the right to re-open negotiations with any Bidder and Seller may request Auctioneer to re-open bidding to solicit new bids.
G. The winning bidder will be required to pay a Buyer’s Premium (fee) equal to 10% of the acceptable bid price. The buyer’s premium will be added to the bid in the Real Estate Purchase Contract to determine the Total Purchase Price. Example: Bid Price $100 +10% Buyer Premium =Total Purchase Price $110.
H. By placing a bid, you acknowledge your understanding and acceptance of all of the above procedures and terms & conditions.