This contract commences on ________________________ and terminates at 11:59 p.m. on _________________________. Auctioneer may place an Auction For Sale sign on the property. Owner will cooperate with Auctioneer in selling the property. Owner has the right to sell the property and agrees to execute all documents necessary to effectuate said sale.

Auctioneer may charge a commission to the Purchaser, known as a Purchaser’s Premium, in the amount equal to TEN (10%) PERCENT of the winning auction bid, which will be the Auctioneer’s commission if the property is sold. Should the Purchaser default for any reason, all earnest money and deposit payments paid on account shall be retained by Auctioneer as liquidated damages up to the amount of any monies due to Auctioneer if the sale has been completed. Any remaining funds, after said payment to Auctioneer, shall be paid to the Owner as liquidated damages.

Owner will pay Auctioneer a non-refundable marketing fee of $______________ the day this agreement is signed by all parties and receipt of which is hereby acknowledged by the Auctioneer. The Auctioneer will be responsible for obtaining a Report of Title and home inspection report, as well as, a survey, wood destroying insect infestation report, septic system test, oil tank test, well water test, etc., all as may be deemed necessary by the Auctioneer and the Auctioneer shall have the sole and exclusive right to hire whatever title company, inspectors, surveyors, etc., it deems appropriate to perform such services, which costs shall be included in the non-refundable marketing fee. In addition, Auctioneer shall have the sole and exclusive right to select a closing agent on behalf of Owner and Owner aggress to pay the legal fees and disbursements charged by the closing agent at the time of closing. Owner agrees to cooperate with Auctioneer in making the property available for said inspections and services. In the event the Report of Title reveals any defects in title or title is rendered unmarketable, Owner agrees to make a good faith effort to correct such defects, clear title and make it marketable.

Owner will pay Auctioneer a commission of _________% of the selling price if Owner sells the property at auction. If Owner sells the property with or without Auctioneer’s assistance before the auction or to anyone registered on Auctioneer’s attendance list for a period of ONE HUNDRED EIGHTY (180) DAYS following the date of the auction, Owner agrees to pay Auctioneer a commission of SIX (6%) PERCENT of the selling price.

In the event that the highest bid received at the auction sale is below the minimum price set forth above and is not acceptable to the Owner, Owner agrees to grant the Auctioneer the sole, exclusive and irrevocable right to sell the property at private sale for a period of TWENTY (20) DAYS following the auction. In the event Auctioneer sells the property during the TWENTY (20) DAYS immediately following the auction, Owner 

agrees to pay Auctioneer a commission of SIX (6%) PERCENT of the selling price. During the term of this Agreement and any extension thereof, Owner grants the Auctioneer the sole and exclusive authorization and right to sell.

Auctioneer agrees to use its best efforts to obtain the highest available bid for said property at the auction sale and to endeavor to have the high bidder submit a written offer in the form of a deposit receipt conforming to the high bid. It is expressly agreed and understood, however, the Auctioneer does not guarantee performance by the high bidder and, therefore, shall not be responsible if, for any reason, the high bidder should fail to perform and complete the transaction pursuant to the purchase agreement thereafter executed.

Owner agrees that Auctioneer, or its agents, have made no warranties, representations or statements, other than those specifically made herein, and that Owner has received a copy of this Auction Agreement.

REVIEWED AND ACCEPTED this _________ day of __________________, 20_____.