Buyers Information:

Buying real estate and equipment at auction is easy. The following categories will provide a quick overview to help educate you about the auction process:

Do your homework.

The 30 days leading up to the auction is the time to find answers to your questions, attend open houses, and determine what type of budget you have. The actual auction is simply the time to offer the price you are willing to pay for your properties of interest.

A real estate auction is the sale of real property in "As-Is" condition for the fair market value, using the competitive bidding process. All auction properties are sold "As-Is" meaning the properties are selling without warranties as to its condition and/or fitness of the properties for a particular use. You are solely responsible for examining and evaluating the properties for your own protection. Contracts are not contingent on buyer or lender inspections. You should make all desired inspections during the available viewing times.

Although some consumers feel the term "As-Is" is a red flag, the opposite is generally the case in most real estate auctions. United Country Entz Auction will provide bidders with vital information on the property/equipment, which may include: maps, easements, tax information, detailed description and other important information. This information should give you the confidence to participate in an "As-Is" auction. Ultimately, it is your responsibility to do your own inspections and due diligence prior to bidding.

When selling equipment at auction, we try to obtain as much information as possible to help you make your purchasing decision. Though we cannot make any guarantees, we take the information from sources we deem to be reliable. If an item is selling with some form of warranty, it will be announced. Otherwise, it will sell "As-Is".

Registration.

There will be a designated time prior to the auction when you can register for a bidder number/buyer number. We encourage you to register as soon as you arrive. The closer to auction time you register, the better the chance of having to wait in line. To register, you will be ask a few questions and then given a bidders number. Familiarizing yourself with the terms and conditions of the auction will ensure that registration on the day of the auction will be quick and trouble-free. We encourage you to contact us at any time prior to the auction to answer questions. We can be reached at 405.663.2200.

In addition, registration is required should you choose to bid online. Because it's a different form of bidding, the terms are slightly different. You must complete the online registration form, provide information, and accept the terms and conditions of the sale. If you are interested in bidding on more than one piece of real estate, required funds for EACH property must be submitted. Registrations will be processed and notification will be sent to you within 24 hours. You are bound to the same terms and conditions as those who physically attend and bid at the auction. CLICK HERE to view upcoming auctions available online.

Before the auction.

The auction begins promptly at the appointed time with pre-auction announcements summarizing the terms of sale, the methods of bidding, and any last minute changes or disclosures. These comments usually take only a few minutes, concluding with the Auctioneer answering any final questions. Working with the Bidder Assistant.

The Bidder Assistants, often known as a ringmen, are auction staff members who are positioned among the attendees at the auction. They are there to assist the auctioneer, spot your bid and assist you with information to help you in your buying decision.

You may place a bid by raising your bidder card. It is a myth that bids can be made accidentally by scratching your nose or similar accidental movement. If you did not intend to bid, simply inform one of the Bidder Assistants or the Auctioneer and the mistake will be corrected. Any tie bids or other issues regarding who has the high bid are always resolved by the Auctioneer, who has complete and final authority.

Sold!

From the first bid, things move quickly with bidders offering their bids up to the price they are willing to pay. It is not necessary, nor customary, for the Auctioneer to slowly announce, "Going once, going twice, etc." When it is determined that the final bid has been made, the Auctioneer will identify and congratulate the high bidder. The high bidder simply executes the Real Estate Purchase Agreement and makes the required Earnest Money Deposit. In a "Subject to Confirmation" auction, the Seller retains the right to accept or reject the high bid within a specified time after the auction.

Real Estate Closings.

Closing on the property typically takes place within 30-45 days from the date of the auction. Closing is not contingent on financing, appraisals, or inspections. Whether its your first time to purchase real estate or not, we are here to answer your questions.

Online Bidding Process

We are pleased to offer live, real-time bidding for some of our auctions. We offer this service for our quarterly equipment consignment auctions and some real estate auctions. This allows you to bid on property/equipment if you are not able to attend the auction in person.

We proudly partner with the industry leader, Proxibid.com, to facilitate our online auctions. This partnership allows for a convenient, secure and fun way of bidding. You will watch real-time bid changes while listening to the auctioneer. Once registered, simply bid by the click of your mouse! Registering to bid online is an easy process! The terms are slightly different than registering to bid on-site, but it still only takes a couple minutes to register. CLICK HERE to view the auctions that are available online.

How the process works:

• Find the auction you wish to register for, and click on the Register tab for that auction. If you are new to Proxibid, you will need to Create an Account. This is the first step of the four step registration process.

• Once registered online for an auction, you will be sent a confirmation email. Each online auction is unique in the Terms and Conditions of the sale, so you need to agree to these. (Some auctions has different preview times, different payment terms, buyers premiums, etc.)

• You will be able to login and leave pre-bids prior to the auction or bid live once the auction begins.

• When you submit a live bid, that bid is relayed to a Bid Assistant on the floor or directly to the Auctioneer as if you were at the auction. If you are the successful bidder, you will receive an invoice after the auction is over.

Example how pre-bids work:
If you leave a $500 bid on an item, the bidding WILL NOT start at $500. Instead, the bidding generally starts on the floor, with live, on-site bids. The Bid Assistant monitoring the online bidding will bid on your behalf up to your $500 pre-bid. The Bid Assistant will bid for you just like you are at the auction. If the competitive bidding stops at $400, you will pay $400 for the item, even though the pre-bid price was more. Placing a pre-bid eliminates the problems that can occur due to internet connectivity issues. pre-bids will be executed whether you are watching the auction or not.

United Country Entz Auction only takes payment for online purchases in the form of wire transfers, unless prior arrangements have been made. Online purchases are subject to all state sales tax laws. Equipment purchases must be paid in full before Entz Auction will release the items. Although we provide online bidding for a convenience to our customers, we encourage you to inspect the equipment/property in person.

We all know that problems can occur with internet and computers. Because of this, United Country Entz Auction is not responsible for lost or delayed signal, missed bids due to connectivity issues, or any other technical issues. To insure your bids are placed and received, we encourage you to use the pre-bid feature.

Here are some simple tips to improving your online experience:

Register in advance!! Don't wait until the morning of the auction! This insures that you will get registered and be ready to bid. We recommend registering at least 48 hours prior to the auction, allowing you time to get any questions answered you might have.

Bid early, don't wait to last minute!! By bidding early the Auctioneer will be aware of your interest in the item. Don't wait until the last minute to try and bid, you might be too late!!

Contact Proxibid with registration questions. If you have any questions during the registration process, contact Proxibid at 1-877-505-7770.