1. What types of property does SageListings auction?
SageListings specializes in all types of commercial property and land. This includes raw land, development land, entitled land, apartments, office, industrial, retail, shopping centers, hospitality, specialty purpose property and single family homes.

2. Where will the auction be held?
"Live Auctions" generally take place at the location of the property being sold, or at a location nearby that is specified in the Information Package specific to the auction event. The information package can be viewed at the auction's property profile page on the Website (www.SageListings.com).

3. What are the different types of auctions offered by SageListings?
All auctions listed on SageListings.com (the "Website") are either in a "Live Auction" or a "Sealed Bid" format. "Live Auctions" are a very exciting and productive format where bids are shouted as prospective buyers compete in their attempt to win the property. The highest bid wins and the auction is generally over in minutes.

"Sealed Bid Auctions" are most often used when a property is difficult to value or when variables other than price need to be considered. In a SageListings "Sealed Bid Auction", the initial bids submitted are undisclosed to the public and not displayed on the Website. However, if there are at least one or more bids that are within 2% to 5% (depending on property size, demand and type) of the highest bid received, SageListings will initiate a new bidding round. At the end of each round, the highest bid will be published on the Website. Additional bidding rounds will continue to occur until no bids are received that are within 2% to 5% (depending on property size, demand and type) of the highest bid for the property. The identity of the highest bidder will not be disclosed and will be kept private. Bidders must submit their initial bid on a written Bid Form along with the required Bid Deposit. Subsequent bids in additional bidding rounds can be submitted electronically. Please see an auction listings' Property Profile page and the Auction Terms and Conditions of Sale available on that page for further details.

The Seller may elect to auction its property in a "Reserve" or "Absolute" auction. In a Reserve Auction, the Seller sets a minimum price at which it is willing to sell its property. If the auction bidding does not reach the minimum reserve price, then the Seller has no obligation to sell its property. In an Absolute Auction, Seller's property is sold to the highest bidder for the highest price. There is no minimum reserve price.

4. What do I need to do before the Live Auction Date to prepare to place a bid?
The 30 to 45 days leading up to the Live Auction Date is the time for you to download and review the available property information, disclosures and documents (collectively, the "Property Documents") from the Website. An auction listings' Property Profile page will also list times when you can visit the property. As you conduct your due diligence, we invite you to contact the "Property Contact" or "Representative" (whose contact information is posted on the Property Profile page) if you have any questions related to the Property Documents or, prior to the Live Auction Date, need to arrange for additional tours/inspections of the property. You will be required to execute an Access Agreement before conducting any on-site physical inspections.

5. What do I need to do on auction day?
It is advisable that you arrive at the auction site at least 30 minutes to 1 hour prior to the time of the auction. By doing this, you will have plenty of time to look at the property, ask questions, review materials and register with your SageListings auctioneer. A real estate auction can be over in a matter of minutes so don't be late! Although there is no obligation to bid at a live auction, all prospective buyers must register in order to bid. To register, you will need to provide evidence that you have the earnest money deposit required to bid through the use of a bank letter of credit. A valid driver's license or other acceptable form of identification is also required. The earnest money deposit must be in the form of a cashier's check. Personal checks, money orders, credit cards and/or cash will not be accepted. Deposits will be held in the trust through a designated trust agency. See the Terms and Conditions of each sale to obtain the specifics as to the deposit requirements for the property of your interest.

6. Can I buy more than one property?
Yes. You can bid on any number of properties after registering at the Live Auction event. Your Bid Deposit will be returned to you for any property you do not purchase.

7. Can I visit and inspect the property?
Yes, prior to the Live Auction Date. An auction listings' Property Profile page will list times when you can visit the property. As you conduct your due diligence, we invite you to contact the "Property Contact" or "Representative" (whose contact information is posted on the Property Profile page) if you have any questions related to the Property Documents or, prior to the Live Auction Date, need to arrange for additional tours/inspections of the property. You may be required to execute an Access Agreement before conducting any additional inspections. In many cases, the Live Auction will also be conducted at the physical location of the property.

8. How can I be assured that the property that I am purchasing is in sound condition?
The Property Documents for each auction listing are available to download from said listings' Property Profile page. You are encouraged to carefully review each Property Disclosure prior to submitting a bid for a property. We make no representation or warranty whatsoever, whether express, implied or statutory, with respect to any property, including, without limitation, any property's condition, fitness for any particular purpose, merchantability or any other warranty, the legal description or matters affecting title, the availability of utilities, or access of a property for your or any other bidder's purposes. It is your sole responsibility to review the Property Documents and personally inspect the property you are interested in buying prior to the submission of bid(s) and satisfy yourself as to the property's physical and environmental condition, zoning, value, adequacy or suitability for your purposes and extent of needed repairs, if any.

9. Does Every Auction Require a Buyer's Premium?
Not every auction requires a buyer's premium. To find out if a certain auction requires a buyer's premium refer to the auction listings' Property Profile page or the Auction Bid Form/Terms and Condition of Sale.

10. What is a Buyer's Premium?
If you are the winning bidder in an auction, you may be required to pay to SageListings a buyer's premium equal to a certain percentage (2% to 10%) of the purchase price of the property. For example, on a property which sold for a high bid of $100,000, a 10% buyer's premium would equal $10,000. SageListings uses this buyer's premium to cover broker commissions and all or a portion of our costs of doing business. As a bidder, you need to consider the buyer's premium, and factor it into the total amount you are willing to pay for a property at auction. Please see an auction listings' Property Profile page and the Auction Bid Form/Terms and Conditions of Sale available on that page for further details.

11. If my bid is accepted by the Seller, may I then change it or cancel the transaction?
If you refuse to execute the Winning Bidder Confirmation Form and/or enter the contract writing area within ten (10) minutes of the Auctioneer's acknowledgment of the winning bid, then the Auctioneer or Seller can declare the you, the Winning Bidder to be in default and you may lose your Deposit. In such event, your bid shall be null and void and the Auctioneer and Seller shall have absolutely no further liability or obligation to you (as a Bidder).

Once in the contract writing area, Winning Bidders will be presented with, and have an opportunity to review, the Purchase Agreement and applicable closing documents. The Purchase Agreement will contain the exact terms and conditions of the sale. Additionally, Winning Bidders must agree to be bound by all terms, provisions and conditions of the Purchase Agreement and the related conveyance and loan documents, if any, for each particular Property. As between the Winning Bidder and Seller, the Purchase Agreement supersedes any and all other documents or information (including without limitation the Terms and Conditions) and serves as the governing document for the sale of each Property. Please consult your legal counsel for any rights and obligations that you may incur as the Winning Bidder. Please see the Auction Terms and Conditions of Sale available for further details. Do not place a bid on a property unless you have the firm intention and means to purchase said property.

12. What is the Closing procedure?
The time between the Live Auction Date and the closing of the sale of the property (called the "Closing") is typically 30 days. If you have been selected as the winning bidder, you and the Seller will (immediately following the conclusion of the Live Auction) deposit a fully-executed Purchase and Sale Agreement with the listing agent assigned to the auction. At that time, the Buyer will also be required to make an additional deposit. On the Closing Date, you may be required to execute several other documents confirming the transfer of title to the property. The actual Closing will be conducted through an escrow, and a title company will issue an owner policy of title insurance to Buyer insuring title to the property, subject to permitted encumbrances that were approved by you prior to and/or at the Live Auction Date. Please see an auction listings' Property Profile page to view the Auction Bid Form/Terms and Conditions of Sale and Purchase and Sale Agreement. These forms will provide further details on the transfer of title to the property and closing costs. SageListings generally follows local custom and practice as to the allocation of closing costs.

13. I am a licensed real estate professional. How can I earn a commission?
Buyer's broker participation is welcome. Real estate agents and/or brokers must first Sign up as a Broker/Agent on the Website and submit an executed Broker Registration Form. Please ensure that you and your client have properly completed the Broker Registration Form no less than 48 hours prior to the Live Auction Date. In order to be properly registered for an upcoming auction with SageListings, a buyer's agent may utilize the registration form that is part of the property information package. The registration may be received by mail, email, or in person. In the event that this is not accomplished 48 hours prior to the Live Auction Date, the bidder may still register for the auction but no buyer's agent commission will be paid - no exceptions. You will also be required to bring a copy of the Broker Registration Form to the Live Auction Event along with a copy of your valid real estate license. You may not earn a commission if you are the Buyer of the property. Please see the Broker Registration Form located on the Property Profile page of the particular listing you are interested in for further details.