Terms and Conditions of the Auction

INTERNET TERMS (in addition to standard terms below):

1.     Registration. All bidders are required to register and provide suitable I.D. (photo copy acceptable) prior to the auction. Auctioneer reserves the right to decline registration if I.D. produced is not sufficient. NO EXCEPTIONS.

2.     Bidder approval for internet. In order to bid online, bidder will need to complete the Internet Bidding Packet (IBP) that will be emailed via electronic link from DocuSign. A sample IBP can be found at the top of the auction web listing approximately 30 days prior to the auction. Completed documents must be received by auctioneer/broker no later than 4:00PM on Monday, November 28, 2022, to be approved to bid online for this auction. NO EXCEPTIONS.

3.     INTERNET BIDDING through our Provider is offered as a service to our customers, and bidders shall not hold the Town of Cortlandt and/or Absolute Auctions & Realty, Inc., responsible for any failure due to the loss of the internet connection supplied to Absolute Auctions & Realty, Inc., by the Provider.

STANDARD TERMS:

1.     Purchaser shall be responsible for the payment of an eleven percent (11%) buyer’s premium (a 1% buyer’s premium discount will be given for cash or guaranteed funds) in addition to the accepted purchase price, advertising fee of 1.5% of the bid price and the closing fees/costs. MONEY ORDER OR BANK CHECK (Tellers/Cashier’s Check) MADE PAYABLE TO “TOWN OF CORTLANDT” WILL BE ACCEPTED. GUARANTEED FUNDS MUST BE RECEIVED AT AUCTIONEER’S OFFICE LOCATED AT 45 SOUTH AVENUE, PLEASANT VALLEY, NY 12569 NO LATER THAN FRIDAY, NOVEMBER 25, 2022 AT 4PM TO RECEIVE BUYER’S PREMIUM REDUCTION. NO EXCEPTIONS.

2.     $1,000.00 or 20% of the total contract price (bid price + buyer’s premium), whichever is higher, shall be paid as a down payment on the day of the auction upon execution of a contract of sale. All deposits are to be made by cash, credit card (Master Card, Discover Card or VISA ONLY), money order or bank check (cashiers or tellers check), made payable to the “Town of Cortlandt.” No exceptions. The Purchaser paying by credit card(s) agrees that they shall NOT attempt a charge back on their credit card(s) used in this/these transaction(s) for any reason whatsoever. In such event that a charge back is initiated by Purchaser and that such attempt is upheld in favor of Auctioneer/Town of Cortlandt, Purchaser agrees and authorizes to compensate Auctioneer with a $750.00 recovery fee as a new charge to their credit card(s) without requiring additional Purchaser signature(s). Failure to pay such recovery fee will result in collection action against said Purchaser(s).

3.     If a declared high bidder at the auction leaves the auction without properly making the required down payment, or fails to complete purchase after deposit is made, he/she will be prohibited from participating at future auctions held by Absolute Auctions & Realty, Inc. The Town of Cortlandt reserves the right to take legal action against this high bidder, should such a default occur.

4.     At the time of bidder registration, the purchaser shall provide information necessary to complete, and shall execute, the necessary forms and documents required for recording the deed in the Westchester County Clerk’s Office. The auctioneer reserves the right to decline registration if identification is not sufficient. Individuals acting on behalf of others, not in attendance at the auction, must produce a “Power of Attorney” duly executed and notarized. Entities such as corporations, limited partnerships, limited liability companies, etc. are required to provide AT REGISTRATION: 1) a copy of the state entity incorporation filing receipt, 2) EIN number and 3) a corporate resolution duly embossed with incorporation seal authorizing the registrant to purchase real property for said entity

5.     The purchaser may not assign his/her right to complete the sale. ALL DEEDS SHALL BE EXECUTED SOLELY IN THE NAME OF THE BIDDER (AND SPOUSE, IF REQUESTED) REGISTERED AT THE AUCTION.

6.     Sale of Town-owned properties shall be as follows: All bids shall be subject to approval by the Town of Cortlandt Town Board, which shall have the right, in the Town Board’s sole discretion, to reject any bid for any reason whatsoever. In the event that the successful high bidder refuses to consummate purchase of any parcel sold at an auction, the second highest bidder of that parcel shall be offered the opportunity to purchase the parcel at the amount of the second highest bid plus the 11% buyer’s premium, closing costs and fees, and such other amounts due under these Terms and Conditions of Auction, and subject to approval by the Town of Cortlandt Common Council.

7.     In the event the successful bidder is the previous owner, the purchase price cannot be less than the total amount of taxes owed at the time the Town of Cortlandt took title to the parcel.

8.     The Town of Cortlandt will notify purchaser when all required documents necessary to complete the sale and transfer of any and all parcels purchased at the auction have been prepared. December 30th, the entire balance of the purchase price, plus the buyer’s premium and closing costs/fees shall be paid. Credit card payment is NOT acceptable for balance due. All payments must be made by cash, money order or bank check.

9.     Conveyance shall be by quitclaim deed only, containing a description of the property as it appeared on the tax roll for the year upon which the Town acquired title. The deed will be recorded by Westchester County upon payment in full of the purchase price, buyer’s premium, and closing fees/costs. POSSESSION OF THE PROPERTY IS FORBIDDEN UNTIL THE DEED IS RECORDED WITH THE WESTCHESTER COUNTY CLERK CONVEYING TITLE TO THE PURCHASER. TITLE VESTS AT THE RECORDING OF THE DEED. It is agreed between the Town and the Purchaser that delivery and acceptance of the deed occurs upon recording of the deed.

10.  The closing fees/costs which the purchaser shall be required to pay shall consist of: (1) New York State Transfer Tax [$2.00 for each $500.00 of the purchase/bid price];; (2) Filing Fee for the Real Property Transfer Report [$125.00 if the parcels classification code is 100-199, 200-299 or 411-C; $250.00 for all parcels otherwise classified]; (3) filing fee for Combined Gains Tax-Transfer Tax Affidavit [$5.00]; and (4) all other fees and surcharges required by the Westchester County Clerk for recording of the deed.

11.  All real property, including any buildings thereon, are sold “AS IS” and without any representation or warranty whatsoever as to physical condition of the land and buildings the permitted uses of the land and buildings, or title, and subject to: (a) any state of facts an accurate, survey or personal inspection of the premises would disclose; (b) applicable zoning/land use/building regulations; (c) Federal and/or State taxes, liens, judgments, and encumbrances of record; (d) easements, covenants, conditions and rights-of-way of record existing at the time of the levy of the tax, the non-payment of which resulted in the tax foreclosure in which the Town of Cortlandt acquired title; (e) Wetlands or boundary disputes; and (f) all outstanding school taxes and special district assessments, past due and present water and sewer rents, assessments, and any demolition or “cleanup” charges, without pro-ration whatsoever.

12.  All purchasers are advised to personally inspect the premises and to examine title to premises prior to the date upon which the sale is scheduled to take place. Personal inspection must be coordinated through Absolute Auctions & Realty, Inc; entrance upon any parcel without an employee of Absolute Auctions & Realty, Inc. constitutes trespass pursuant to the laws of New York State.  The property has not been inspected for compliance with the NYS Building Code or other Town codes. The property may have multiple code violations that must be corrected before it can be occupied. Some properties (particularly older structures) may have lead base paint, asbestos and other conditions that violate environmental protection laws and which must be treated or removed in compliance with state and federal regulations. In some cases, a property offered for sale may have been cleaned and disinfected prior to sale, however, bidders should not infer from such work that the property is fit for occupancy.

13.  No personal property is included in the sale of any of the parcels owned by the Town of Cortlandt. The disposition of any personal property located on any parcel sold shall be the sole responsibility of the successful purchaser following the closing of sale.

14.  The Town makes no representation as to whether the property is vacant and/or unoccupied. Evictions, if necessary, are solely the responsibility of the successful bidder after closing and recording of the deed.

15.  The Town of Cortlandt acquired title to these properties in accordance with Article 11, as the case may be, of the Real Property Tax Law of the State of New York, and all known rights of redemption under said provisions of law have been extinguished by the tax sale proceeding; and/or as a result of forfeiture.

16.  The purchaser shall be solely responsible for the payment of all taxes, levied against the property subsequent to transfer of title to the Town of Cortlandt as of the date of the recording of the in rem deed transferring title to the Town.  At the closing, Purchaser shall make payment of all such taxes, as well as payment for subsequent levies up to the date of the closing.  Purchaser is responsible for payment at the closing of all outstanding water and sewer fees which will be paid to the Town to the date of the closing.

17.  If purchaser does not complete and return the transfer documents needed to file the deed, the purchaser forfeits their rights to the property and will not receive a refund.

18.  Real Property Tax Law authorizes the imposition of a pro-rata liability on formerly exempt property transferred to a non-exempt owner after taxable status date. The property purchased at the tax foreclosure is exempt at the time of purchase (Town-owned). Upon transfer of title, the exemption ceases, and each tax levying unit, county, Town, town and village are due taxes for the remaining portion of the year. On a subsequent tax roll, county/town, the purchaser of the property will receive an additional bill for these taxes. This entire process is subject to administrative review. Further information can be found in New York Real Property Tax Law, Sections 520, 551 and 553.

19.  NO PERSON OR ORGANIZATION CAN BID ON PROPERTIES AT THE AUCTION IF THEY, OR A CORPORATION OR COMPANY THEY ARE AFFILIATED WITH, OWE PROPERTY TAXES (CURRENT YEAR OR PRIOR YEAR) TO THE TOWN OF CORTLANDT. ALL TAX LIABILITIES MUST BE PAID PRIOR TO THE AUCTION IN ORDER TO BID AT THE AUCTION. Failure to comply with this provision will be grounds for default and forfeiture of any deposits paid.

20.  By acknowledging and executing these Terms & Conditions, the purchaser certifies that he/she is not representing or acting as proxy for the former owner(s) of the property against whom the Town of Cortlandt foreclosed, or anyone previously prohibited from participation in auctions, and has no intent to defraud the Town of Cortlandt of the unpaid taxes, assessment, penalties and charges which have been levied against the property. The purchaser agrees that neither he/she nor his/her assigns shall convey the property to the former owner(s) against whom the Town of Cortlandt foreclosed within 24 months subsequent to the auction date and, if such conveyance occurs, the purchaser understands that he/she may be found to have committed a fraud and/or intent to defraud and will be liable for any deficiency between the purchase price at the auction and such sums as may be owed to the Town of Cortlandt as related to the foreclosure on the property and consents to immediate judgment by the Town of Cortlandt for said amounts.

21.  All sales shall be final, absolute and without recourse, and in no event shall the Town of Cortlandt and Absolute Auctions & Realty, Inc., be or become liable for any defects in title for any cause whatsoever, and no claim, demand or suit of any nature shall exist in favor of the purchaser, its heirs, successors or assigns, against the Town of Cortlandt and Absolute Auctions & Realty, Inc., arising from this sale.

22.  In the event that a sale is cancelled by Court Order or judgment or by the Town of Cortlandt Town Board, the successful bidder shall be entitled only to a refund of the purchase money. Purchaser shall not be entitled to special or consequential damages, nor attorney fees, nor reimbursement for any expenses incurred as a result of ownership or improvements of the property nor for taxes paid during the period of ownership.

23.  The auctioneer’s decision regarding any disputes is final, and the auctioneer reserves the right to reject any bid that is not an appreciable advancement over the preceding bid.

24.  Anyone deemed by the Auctioneer to be intentionally obstructing the business of the auction may be ordered removed by the Auctioneer.

25.  All informational tools, such as slides, tax maps, photos, auction listings, auction catalogs, auction signs, property record cards, etc. are for identification purposes only and are neither a guarantee nor a warranty as to location, dimensions, parcel use and/or size, or anything else. THE TOWN AND ABSOLUTE AUCTIONS & REALTY, INC. MAKE NO WARRANTY, EXPRESSED OR IMPLIED, IN CONNECTION WITH THIS SALE.