Terms & Conditions for 162 E Washington Ave

1. THE PROPERTY IS SOLD “AS IS”. All information regarding the property for sale is from sources deemed reliable but no warranty or representation is made by Fiedler Realty, LLC or its associates. Buyer’s must rely on their own independent inspection and evaluation of the property and related documents and assume all risks associated with the purchase. The buyer is responsible for obtaining all necessary approvals including, but not limited to, a certificate of continued occupancy, a certificate of occupancy, and all other necessary approvals and certificates prior to occupancy.
   
   
2. NO ATTORNEY REVIEW. The auction purchase agreement was prepared by the seller’s attorney and should be reviewed by the buyer’s attorney prior to attending the auction. The purchase agreement is binding upon its signing.
   
   
3. To receive a bid package, buyer must register online at www.frebac.com
   
   
4. To bid, interested parties must preregister the day of auction inclusive of a $10,000 Cashier’s Check payable to Fiedler Realty Trust Account.
   
   
5. A Ten (10%) percent buyer’s premium will be added to the high bid price and included in the final contract price.
   
   
6. The High Bidder must sign an auction purchase agreement immediately after their successful winning bid and provide a personal check for balance of 10% of contract price.
   
   
7. Closing within 45 days of the Live Auction. Balance of contract price paid by certified funds.
   
   
8. Financing is available to qualified buyers; however, the auction purchase agreement is not subject to the buyer obtaining a mortgage.
   
   
9. Sale subject to seller approval.
   
   
10. The Auctioneer may alter the terms and conditions of the sale through announcement prior to starting of the auction.

Disclosure of Agency

Buyer understands that Disclosed Dual Agency (representing more than one party to a transaction) has the potential of creating a conflict of interest in that both Seller and Buyer may intend to rely on the Buyer's Agent's advice, and their respective interests may be adverse to each other. Therefore, when acting as a Disclosed Dual Agent, Buyer's Agent will not represent the interests of Buyer to the exclusion or detriment of the interests of a Seller; nor will Buyer's Agent represent the interests of Seller to the exclusion and detriment of the interests of Buyer.

As a Disclosed Dual Agent of both the Seller and the Buyer, Buyer's Agent will be working equally for both parties to the real estate transaction, and will provide services to complete the transaction without the full range of fiduciary duties ordinarily owed by an agent who represents Buyer alone, or the Seller alone. In the preparation of offers and counteroffers between Buyer and Seller, Buyer's Agent will act only as an intermediary to facilitate the transaction rather than as an active negotiator representing either the Buyer or Seller in a fiduciary capacity. By consenting to this dual agency, Buyer is giving up the right to undivided loyalty and will be owed only limited duties of disclosure by the Buyer's Agent.

If the Buyer does not understand all of the provisions of this Informed Consent to Dual Agency, they should seek legal advice.

1. Accompany the buyer to a minimum of one scheduled public open house where they register their client.
   
   
2. No less than 48 hours prior to start of the auction complete the online registration at www.frebac.com
   
   
3. Complete the co-brokerage agreement provided during the online registration. The form MUST be signed and dated by the prospect and the buyer’s broker. Once complete, the form must be faxed to 908-852-2587 or emailed to auction@frebac.com
   
   
4. After the co-brokerage agreement is deemed qualified by Fiedler Real Estate, a fully executed copy signed by the broker-of-record will be returned to the buyer’s broker acknowledging acceptance of compensation.
   
   
5. A real estate commission will only be paid to a buyer’s broker representing a non-related buyer. No commission will be paid to any broker participating in the purchase of the property as a principal/owner of any kind or if they are an immediate family member of the buyer’s broker.
   
   
6. Commission to a cooperating real estate broker will only be paid upon receipt of full commission to Fiedler Real Estate. If for any reason Fiedler Real Estate fails to receive its full commission, the cooperating broker will receive a reduced commission commensurate with the reduction.
   
   
7. No commission will be paid to any broker unless all requirements described above are satisfied.