Auction Terms & Conditions Please see the following terms & conditions for bidding at the KCMO Real Estate Auction:
This auction has a two-step registration process. New bidders will be requested to submit ACH info prior to bidding. You agree that OAI will charge your full invoice amount from your bank if payment is not received by 4:30pm Central on the day after the auction.
No deposit is required to place bids.
A non-refundable deposit of 10% of your invoice total is due within 24 hours of seller approval. This is a deposit on an as-is non-contingent buy sale contract.
For properties held by Land Bank or the City of Kansas City, seller approval has already been obtained and the deposit is due within 24 hours of the end of the auction. For properties held by Kansas City Missouri Homesteading Authority (KCMHA), the District Court must approve the sale. The 10% deposit for those properties is due within 24 hours after we notify you of that approval. It will be your responsibility to check for that notice and respond.
The remaining 90% of your invoice total is due at the close of the real estate transaction.
We accept certified funds only. This means wire transfer, cash or cashier's check - no credit, debit, or any other type of cards, no money orders, and no other types of checks. We may choose to accept ACH payments (such as Western Union) if we have verified your identity and ability to pay. The ACH payment will not be considered final until three business days after it is received by our bank.
If we do not receive your payment on time, or if the real estate transaction is otherwise unsuccessful, we reserve the right to sell the property to the next highest bidder, or sell the property at a later auction.
2) TERMS OF AUCTION:
Payment of purchases must be made by cash, cashier's check, wire transfer, or ACH with proof of identity. All sales are subject to $50 Per Property Buyer's Premium and 10% Online Bidding Fee. Bidder agrees not to stop payment on checks, transfers or charges. A fingerprint is required for all payments except cash.
All Absentee Bids will be done through Official Auctions, Inc. online platform. A bank letter of credit must accompany all absentee bids and must be on bank letterhead naming Official Auctions, Inc. as the party guaranteed.
In order to bid on KCMO properties, you cannot have any unpaid real estate taxes in Jackson County, MO. You also cannot have any code violations with Kansas City, MO.
3) NO WARRANTY:
The descriptions of items appearing in advertising prior to this sale are believed to be correct. Nevertheless, neither those descriptions, photos nor the oral statements made by owner, its officers, agents nor employees of Official Auctions, Inc. concerning any items shall be construed as a warranty, either expressed or implied. This catalogue is intended to provide general information and is subject to errors, omissions, additions or deletions. Please check with Auctioneer's office for final listing. Items offered may or may not be sold as described in this catalogue.
ALL ITEMS ARE SOLD AS IS - WHERE IS with no warranties expressed or implied. Statements made day of sale take precedence over all printed materials. Auction properties may be withdrawn from the sale at any time prior to payment.
Buyer will be furnished a paid invoice when payment is received for items purchased. The invoice is a record of payment only, it is not a Title. The transfer of Title is completed during the real estate closing process as dictated by Missouri state regulations.
5) POSSESSION DATE AND CLOSING:
Possession date is at time of real estate closing.
Auctioneer reserves the right to resell any property not paid for in full. Buyer shall be responsible to the auctioneer for expenses of resale and collection and any damages resulting from the resale including attorney's fees and costs.
7) DISPUTES BETWEEN BIDDERS:
The auctioneer shall designate the Purchaser after each property is auctioned. If a dispute arises between two or more bidders, the auctioneer reserves the right to reopen bidding. His designation of a buyer shall be final. Disputes will be worked through between the bidder and the auctioneer at the discretion of Official Auctions, Inc., and are final.
For online dispute, there is a current four (4) day turn-around period with first contact to bidder on day (1) depending upon the hammer. Anyone found negligent for non-payment will be permanently banned from the auction with no recourse.
8) INJURY AND DAMAGE:
Bidder acknowledges responsibility for any personal injury or property damage caused by bidder or his agent and further agrees to hold Official Auctions Inc., the owner, its officers or employees harmless for any personal injury to himself or his agents and any property damage incurred on sale premises. See Kansas City Insurance waiver for their terms.
9) TITLE POLICY:
Official Auctions Inc. is not responsible for, nor has any accountability for titles for any property - no exceptions. All titles are handled by Clear Title.
10) TECHNICAL SUPPORT:
All technical support will be issued through the Official Auctions Inc. online platform. There will be technical support via email and phone from 9am to 7pm on normal business days. Our internet auction service provides technical support, available via email. Phone support is governed through the Official Auctions Inc. auction services.
Seller User Terms
Bidder User Terms