GOVERNMENT OWNED REAL ESTATE AUCTION STATE OF UTAH DEPARTMENT OF TRANSPORTATION
ELECTRONIC ONLINE SURPLUS LAND AUCTION PROGRAM "TERMS OF SALE AND BIDDING PROCEDURES"
On behalf of the State of Utah Department of Transportation ("UDOT") and staffs of SVN Auction Services, LLC & SVN I Alta Commercial, Inc. ("SVN"), thank you for your interest in this important online real estate auction program. Please review the following sections carefully. The Terms of Sale and Bidding Procedures explain the process of qualifying and buying property(s) through the UDOT surplus land online auction program. The Auction Terms of Sale and Bidding Procedures are non-negotiable.
All bidding is open to the public. The auction(s) will be conducted online only. Prospective bidders must (i) agree to the Auction Terms of Sale and Bidding Procedures in order to qualify and bid during an online auction (ii) be 18 years of age or older and (iii) register using a valid credit card, with a minimum $1,000 credit,
at https://udotauctions.bidwrangler.com/accounts/sign in system will authorize and capture but not charge the account.
All property(s) to be sold in "As Is, Where Is" condition, with any and all faults and no implied or expressed warranties by either UDOT or SVN. UDOT does not make any representations concerning the property. All information and dimensions were derived from sources believed correct but are not guaranteed. Bidders should personally inspect all properties and perform their own due diligence.
All photographs, aerial photographs, location maps and displays are only approximations or approximate locations and are not intended to be used as a survey or definitive location maps. Neither SVN nor UDOT is guaranteeing these properties for any suitability of use, access or development. Bidders should verify zoning, use, current condition and environmental issues prior to bidding on any parcel. BUYERS SHALL RELY ENTIRELY ON THEIR OWN INFORMATION, JUDGEMENT, DUE DILIGENCE, AND INSPECTION OF THE PROPERTY(S) AND RECORDS.
Winning online bidders must sign and return the approved form auction purchase
Agreement including a deposit of 10% of the purchase price or $2,500, whichever is
Greater, due on each property made payable to UDOT's appointed escrow closing
agent listed on the purchase agreement. Escrow / Earnest Money Deposit(s) may be in
the form of a Cashier's Check, Money Order, Cash or Wire Transfer from a United
States FDIC institution. The signed purchase agreement and escrow deposit are due
within 48 hours of notification. UDOT will not grant any exceptions for this time period.
Upon acceptance by an authorized official of UDOT, the deposit is non-refundable.
The balance of the purchase price is due at closing within 30 to 60 days from the close
of an auction. The cost of abstract, title insurance and purchaser's customary closing
fees / costs to be paid by purchaser to the appointed UDOT escrow / closing agent as
reflected on the HUD closing statement. Additionally, purchaser is responsible for payment at closing of all related additional associated costs and fees. NOTE: These additional associated costs and fees are enumerated on each property's parcel executive summary.
Conduct of the electronic on line auction program and increments of bidding are at the
discretion of UDOT and SVN.
i. Auto / Max Bids:
The online bidding system allows for an "automatic incremental bid' where the bidder
enters the bidder's maximum amount but only bids up to the next nearest amount. This
keeps a bidder from having to re-bid after another bidder submits bids. The bidding
platform gives priority to Auto / Max bids. For example, if Bidder "A" has entered a max
bid of $50,000 and Bidder "B" enters a single bid of $50,000, Bidder "A's" Max bid in the
event of a tie will prevail. The system will only bid for you up to the next increment. You
may wish to consider utilizing an Auto/Max bid.
ii. Soft Close:
If a bid is received within the final 5 minutes of a property closing, the auction will
automatically extend for another 10 minutes and will continue to do so until all bidding
within a given 10 minute period ceases. This is the online version of a live auctioneer's
"Going Once, Going Twice ... "
SVN Auction Services, LLC and SVNI Alta Commercial, Inc. ("SVN") is acting as selling agent for the Seller in these transactions and is to be paid a commission by separate agreement with UDOT. SVN is not acting as Agent for the Purchaser.
Potential bidders are advised to conduct their own due diligence and to review the approved form Auction Agreement for the Purchase and Sale of Real Estate thoroughly, prior to bidding on any particular property. Sample purchase agreements are available for download in the detail section of each property.
All announcements posted will take precedence over all previously printed material and any other oral statements made by UDOT or SVN. The Auction Agreement for the Purchase and Sale of Real Estate represents the final contracted terms. In the event of a dispute over any matter, UDOT shall make the sole and final decision and will have the right either to accept or reject the final bid or re-open the bidding. SVN and UDOT reserve the right to refuse any bid or the right to refuse any party from participating in the bidding.
UDOT reserves the right to withdraw any property from an Auction at any time, whether bids have been received on the property or not.
Buyers must obtain their own financing if required. Purchase agreements will not be subject to any financing or qualification for any financing.
In the event a Buyer fails to take title when title is tendered by UDOT, UDOT at its option may seek specific performance of the Agreement or may terminate the Agreement and retain Buyer's Deposit. Additional default remedies are reserved by SVN and UDOT as provided in the Auction Terms of Sale and Bidding Procedures; and the "Agreement for the Purchase and Sale of Real Estate". Should a buyer fail to comply with any of these Auction Terms of Sale and Bidding Procedures, the sale shall be canceled, and UDOT may, at its option retain the deposit as liquidated damages.
A two percent (2%) commission on the bid price will be paid to a qualified Utah licensed real estate broker whose client successfully closes on a property. An agent must register bidder in advance by completing and returning the Broker | Client Registration Form available on the website www.UDOTauctions.Utah.gov/brokers-agents. No oral registrations will be accepted and UDOT will not grant any exceptions!
UDOT reserves the right to require an Initial Bidding Deposit on any property in advance by wire transfer, cashier’s or certified check in the amount of $50,000 made payable to UDOT’s appointed escrow closing agent listed on the UDOT Purchase Contract (“Closing Agent”). Once UDOT accepts a winning bid, the winning bidder’s Initial Bidding Registration Deposit shall be non-refundable and shall be credited to the purchase price of the property at the time of closing.
Neither UDOT nor SVN makes any representations or warranties as to the accuracy or completeness of any information provided. Each prospective purchaser must conduct and rely solely upon its' own due diligence and investigation of the properties. By participating in the online bidding system each bidder shall be deemed to represent, warrant and agree that:
The bidder has examined the property on which he or she intends to bid, is familiar with the physical condition and has conducted such investigation of the property as such bidder has considered appropriate, or has waived due diligence and investigation of the property. UDOT will not allow any inspection or due diligence period after the auction bidding.
Neither SVN nor UDOT, nor any affiliate, agent, officer, employee or representative of any of the foregoing has made any verbal or written representations, warranties, promises or guaranties whatsoever to such bidder, expressed or implied, with respect to the physical condition, operation, or any other matter or thing affecting or related to the property or the offering of sale of the property.
Such bidder has not relied upon any representations, warranties, guaranties or promises or upon any statements made or any information provided concerning the property, including but not limited to the brochures or Electronic Parcel Executive Summary's provided by SVN or UDOT or their respective representatives.
(d) Bidder voluntarily submits its bid after having made and relies solely on its own independent investigation, due diligence, inspection, analysis, appraisal and evaluation of the property and the facts and circumstances related to the property.
By registering and placing a bid, bidder agrees to all of the terms and conditions of the electronic online auction. Online bidders agree that any technical issues with the bidding platform are not the responsibility of the bidding platform, SVN, UDOT or any other entity associated with the sale. SVN, UDOT, and BIDWRANGLER shall not be held responsible for failure of online networks, bidder's internet connections, cellular networks or time delays. Bidders waive and release any claims against SVN, UDOT and BIDWRANGLER for any missed bids or the failure of the software platform to function properly for any reason.
T & C from Website/Software:
UDOT Auctions Bidding Software Application License Agreement for Auction Bidders
1. The UDOT Auctions Bidding Software Application ("App") is licensed, not sold, to you for use in placing bids at auctions where UDOT Auctions ("Auction Company") elects to accepts bids placed through the "App". "Auction Company" or "Auction Company's" licensor retain ownership of the "App" and they reserve all rights not expressly granted to you. The terms of this License Agreement will govern any software upgrades that replace and/or supplement the "App", unless such upgrade is accompanied by a separate license agreement, in which case the terms of that license agreement will govern such upgrade. Subject to the terms and conditions of this License Agreement, you are granted a limited non-exclusive license to install and use the "App" on a mobile device owned or controlled by you. You may not rent, lease, lend, sell, redistribute or sublicense the "App".
2. By using the "App" to place a bid: (i) you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers set forth herein; (ii) you agree to all such terms, conditions, and disclaimers; (iii) you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers of the auction company that is responsible for the auction in which you are bidding (such terms, conditions, and disclaimers are not set forth herein and must be obtained from the auction company); and (iv) you agree to all of the terms, conditions, and disclaimers of the auction company for the specific auction in which you are placing a bid.
3. Neither "Auction Company", "Auction Company's" Licensor, nor the auctioneer is your employee, agent, representative, or contractor with respect to any auction in which you may participate. "Auction Company" is providing an internet based service through the "App" that enables you to place a bid with an auctioneer at a live auction. The auctioneer for any given auction is retained by "Auction Company" to conduct that given auction.
4. Any bid that you place through the "App" in an auction is a legally binding offer to purchase the real or personal property being auctioned. Your bid (i.e., offer) may be accepted by the auctioneer, in which case a legally binding agreement will be in place between you and "Auction Company". The terms, conditions, and disclaimers of "Auction Company" for that specific auction will be part of the foregoing agreement.
5. All bids shall be deemed pending unless and until duly accepted by the auctioneer.
6. The auctioneer has the sole and absolute discretion to advance the bidding, including the discretion to reject any bid which the auctioneer believes does not advance the auction and/or is injurious to the auction. Bids that may be rejected include without limitation bids that appear to the auctioneer to be nominal, suspicious and/or suspect.
7. No bid shall be deemed a valid bid unless and until accepted by the auctioneer.
8. All bids are accepted at the sole discretion of the auctioneer. For any given auction, the successful bidder is deemed the bidder that places the bid that is accepted by the auctioneer.
9. The auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. The auctioneer's determination of the successful bidder shall be the final determination of the successful bidder.
10. If you are the successful bidder, you agree to pay the amount of your bid, all applicable taxes set by law, and any commissions, premiums, and other expenses that are set forth in the "Auction Company's" terms and conditions, including any terms and conditions that may be orally announced by the auctioneer at the auction. You agree to indemnify and hold "Auction Company" harmless from and against any and all costs, expenses, losses, and damages (collectively "damages"), including without limitation reasonable attorney's fees, "Auction Company" may incur with respect to your failure to pay all amounts that you are legally required to pay as the successful bidder.
11. All sales are final upon the determination of the successful bidder by the auctioneer.
12. Unless otherwise expressly provided by "Auction Company", all property is auctioned and sold in its "as-is" condition on the day of the auction. It is the bidder's responsibility to determine the nature, condition, and state of title of the property to be purchased at the auction.
13. Unless otherwise expressly provided by "Auction Company", all property is auctioned and sold where it is located on the day of the auction (i.e., "where-is"). The successful bidder shall make arrangements with "Auction Company" for accepting delivery of any personal property that is purchased at an auction. Any shipping expenses shall be governed by "Auction Company's" terms and conditions for the given auction.
14. There shall be no returns or exchanges except as may be expressly permitted in writing by "Auction Company" under its terms and conditions for the given auction.
15. DISCLAIMER OF WARRANTIES. You may be entitled to warranties, conditions, and terms that may not be excluded or limited by "Auction Company" under applicable law. EXCEPT FOR WARRANTIES, CONDITIONS, AND TERMS THAT "Auction Company" MAY NOT EXCLUDE UNDER APPLICABLE LAW, THE APP IS MADE AVAILABLE “AS IS.” EXCEPT FOR THOSE NON-EXCLUDABLE WARRANTIES, CONDITIONS, AND TERMS, "Auction Company" MAKES NO WARRANTIES, CONDITIONS, REPRESENTATIONS, GUARANTEES OR TERMS (EXPRESS OR IMPLIED, WHETHER BY STATUTE, COMMON LAW, CUSTOM, USAGE OR OTHERWISE) AS TO ANY MATTER INCLUDING PERFORMANCE, RESULTS, SECURITY, NONINFRINGEMENT, MERCHANTABILITY, INTEGRATION, QUIET ENJOYMENT, SATISFACTORY QUALITY, AND FITNESS FOR ANY PARTICULAR PURPOSE. THIS DISCLAIMER OF WARRANTY MAY NOT BE VALID IN SOME STATES. YOU MAY HAVE WARRANTY RIGHTS UNDER LAW WHICH MAY NOT BE WAIVED OR DISCLAIMED. "Auction Company" DOES NOT SEEK TO LIMIT YOUR WARRANTY RIGHTS TO ANY EXTENT NOT PERMITTED BY LAW.
16. LIMITATION OF LIABILITIES. You may be entitled to remedies that may not be excluded or limited by "Auction Company" under applicable law. EXCEPT FOR ANY REMEDIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW, "Auction Company" WILL NOT BE LIABLE TO YOU FOR ANY LOSS, DAMAGES, CLAIMS OR COSTS INCLUDING ANY INDIRECT, CONSEQUENTIAL, OR INCIDENTAL DAMAGES, ANY LOST PROFITS OR LOST SAVINGS, ANY DAMAGES RESULTING FROM BUSINESS INTERRUPTION, OR FAILURE TO MEET ANY DUTY OF CARE, OR CLAIMS BY A THIRD PARTY, EVEN IF A REPRESENTATIVE OF "Auction Company" HAS BEEN ADVISED BY YOU OF THE POSSIBILITY OF SUCH LOSS, DAMAGES, CLAIMS OR COSTS. IN ANY EVENT, THE LIABILITY OF "Auction Company" IN CONNECTION WITH YOUR USE OF THE APP IS LIMITED TO THE GREATER AMOUNT OF (I) THE AMOUNT, IF ANY, PAID BY YOU TO "Auction Company" FOR THE APP, OR (II) TEN DOLLARS ($10.00).
17. Neither "Auction Company" nor "Auction Company's" Licensor provide support services for the "App". Neither "Auction Company", "Auction Company's" Licensor, nor the auctioneer shall be held responsible for a missed bid or the failure of the "App" to function properly for any reason. You acknowledge that the "App" may not be operational at any given time for various reasons, including repairs, maintenance, upgrades to the "App", and many causes that are not within the control of the "Auction Company", the "Auction Company's" Licensor, or the auctioneer, including without limitation power failures, defects in third-party equipment, and acts of God. In the event that the "App" fails to properly operate for any reason during any auction, thus preventing you from placing a bid, you acknowledge and agree that you are subject to the limitation of liabilities set forth above.
18. The disclaimer of warranties and limitations of warranties set forth above, including all exclusions and limitations set forth therein, will apply to the maximum extent permitted by applicable law, even if any remedy fails its essential purpose.
19. The terms, conditions, and disclaimers set forth herein shall be governed by the laws of the Commonwealth of Virginia.
21. The non-exclusive license granted to you in this Licensing Agreement is effective until terminated. Your rights under this License Agreement will terminate automatically or otherwise cease to be effective without notice from "Auction Company" if you fail to comply with any term(s) of this License Agreement. Upon the termination of this License Agreement, you shall cease all use of the "App" and destroy all copies, full or partial, of the "App".