TERMS AND CONDITIONS

OF

PUBLIC REAL ESTATE AUCTION

Real estate property of located at Oine Road and I-85 Norlina, NC is being offered for sale AS IS WHERE IS, subject to all property lines, zoning restrictions, streets or roads, right-of-way, easements, accesses, ingresses and egresses to and from subject property as recorded in the county tax office, register of deeds and/or surveyors maps, and hereby being said property as described in seller’s deed.

Seller WILL NOT be required to make any changes, deletions, and/or additions to add to or take away from the value of the property.

The property will sell subject to Minimum Opening bid of $20,000.

The successful bidder must sign all documents and contracts immediately upon conclusion of the auction. The successful bidder will make a down payment of $5,000.  Balance due within 30 days upon delivery of deed.

In the event you are the highest bidder and your bid is accepted, it is your responsibility to know if you can or cannot obtain a loan if a loan is necessary. If you fail to complete the purchase of the property, you then FORFEIT the down payment. There are no contingencies. Buyer is guaranteed clear and marketable title or the TOTAL down payment shall be refunded.

Property taxes for 2011shall be prorated to the day of closing.

A buyer’s premium of ten percent (10%) shall be added to the successful bidder’s high bid and included in the total purchase price to be paid by the successful bidder.

Any additional terms or conditions of sale, added by Auctioneer, shall be announced prior to auction and will take precedence over previously written material.

CAROLINA AUCTION & REALTY, INC.

Tom Jordan – Auctioneer/ Real Estate Broker

N C License: Auctioneer 7126 – Broker 191036

Raleigh, NC

From: I-85 North take Exit 229 (Oine Rd.), cross over overpass property is on your right, look for Auction sign.

From: I-85 South take Exit 229 (Oine RD.), turn right property is on the right, look for Auction Sign.