Chain & Ratchet Binder

Online Auction

REAL ESTATE AND EQUIPMENT of Mr. Jay Odenwald

186 Persimmon Mill Rd, Ferriday, LA 71334

Wednesday, May 29, 2024                           

Real Estate Auction - 10 AM      Personal Property-12:00 PM

10% Buyer's Premium on all Items. 3% Surcharge for Credit Card Usage. La. Sales Tax is applicable.

Soft Close of 15 lots every 5 minutes

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY BEFORE BIDDING ON ANY PROPERTY.

By placing a bid, you accept the terms of this auction and will be held to the terms as they are presented and updated. Bids cannot be canceled.  These terms create a legally binding contract between you and Taylor Auction & Realty, Inc. Documents presented on the website are part of the terms. The Terms are per our seller client. 

ALL PROPERTY IS SOLD AS IS WHERE IS WITH NO WARRANTY, EXPRESSED, WRITTEN, OR IMPLIED, and ALL SALES ARE FINAL: Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction. All information obtained came from the seller or third-party sources. The following information is provided to you as a matter of convenience only. 
This online auction is set for automatic approval. You may register for the auction and download any documents regarding this auction. 

BIDDER REGISTRATION:
For us to have enough time to conduct authorizations, you are encouraged to register and bid early. Waiting till the last minute to register and become comfortable with the system could negatively affect your bidding. We encourage you to register at least 24 hours before the auction.
To better serve our customers, all bidders must provide their name, address, phone number, and email address at which they can be contacted. This ensures good communication between Taylor Auction & Realty, Inc. and the bidder throughout transactions. Each bidder's identity will be verified. Bidding rights are provisional; if complete verification is impossible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated. Auction company employees may bid on an auction for absentee bidders or at the direction of interested bidders who refuse to create an online account but desire to bid at the auction. Auction company employees may bid on auction items for personal consumption. 

BIDDING PROCEDURES:
Online auctions move quickly! If you are interested in bidding, bid quickly, especially at the close of bidding time. The bidding software will notify bidders by email or text when they have been outbid. Bidders may also discover if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connection speeds, please place a max bid or constantly monitor the auction at the close of bidding. Sometimes, email or text notifications can be delayed. If you win, you will be notified by email.

MAX BIDS:
Internet bidders who want to ensure their bids are acknowledged should use the Internet bidding feature and leave their maximum bid. The current bid price does not automatically go to your max bid when you bid your max. Someone else has to bid to increase the current price, and the computer will automatically bid up to your max in the increments specified. Max bids are taken in the order of date and time placed.

AUCTION END TIMES:
All auctions are timed events and are subject to auto-extend. Online Auctions have an auto-extend feature of 5 minutes. For any bid placed in the final 5 minutes of an auction, the auction ending time will be automatically extended 5 minutes from when the bid was placed. The auto-extend feature remains active until no further bids are received within the 5-minute. At the close of the auction, all bidders are encouraged to watch the catalog if it goes into extension. All lot(s) will remain open during the extension period.

Staggered Ending: This Auction utilizes a staggered end time of a certain number of lots ending XX minutes. This information will be provided on the auction details page.

Extended Bidding:
Our auctions use the Auto-Extend feature. The basic rule is that there must be a minimum of 5 minutes for a bidder to react to a bid. If a bid is placed in the final 5 minutes for an item, the ending time is automatically extended to allow the 5-minute reaction time. If another bid is received during that 'extended time,’ the ending time is extended again, if necessary, for five additional minutes for each extension. This continues and repeats until there are no more bids submitted. This 'Auto-Extend' feature makes the bidding process fairer for every bidder and allows all bidders to respond to any last-minute snipe bid(s). Items are Auto-extended ONLY if a bid is placed within 5 minutes of the scheduled closing time.

Personal Property Terms
A 10 % buyer premium and applicable sales tax apply to all personal property lots sold in this auction. (See payment paragraph below). The hammer bid, the buyer premium, and applicable sales tax will establish the final price.
Taylor Auction & Realty, Inc. may attempt to describe the merchandise in advertising, on the Internet, and at the auction but makes no representations. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. In no event shall Taylor Auction & Realty, Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Bidders who bid from off-site understand and acknowledge that they cannot inspect and examine an item in person. Taylor Auction & Realty, Inc. will not be responsible for any errors or omissions in the merchandise description. Bidder agrees that everything is sold as is and that they may not return any item they purchase.

INVOICES: Winning/ high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s). 

PAYMENT and REMOVAL TERMS:
Photo Identification: registered buyers must present their photo identification if they are unknown to our staff. The successful registered bidder must make payment on all purchases. The buyer’s credit cards must have been issued to the buyer or the business the bidder registered to represent at the auction. Credit card payments must show an exact match to be accepted. Electronic bank transfers for the final cost of purchases must originate from an account of the registered buyer or the business the buyer represents. The transfer must include the bidder number and the invoice number.

If you are picking up at the location site, a check or cash is preferred at removal. All accounts must be settled after the auction and within 48 hours. We request payment made in full at the end of the auction or on removal day(s). We also accept Cashier's Checks, Wire transfers, Visa, American Express, MasterCard, and Discover. Visa, American Express, MasterCard, and Discover can be utilized for less than $1000.00. We prefer Cashier's Checks or Wire Transfers (a $25 wire fee is applicable) if payment is over $5000.00. No credit card chargebacks are allowed. Bidders are charged a 10% Buyers’ Fee. Credit Card Usage is an additional 3%. Applicable SALES TAX is CHARGED. Resale Tax Permits are allowed and accepted after verification of the permit number, and a copy is provided at checkout. The Purchasers will pay the sales tax due on any title vehicles. Any Vehicles or trailers that state the Bill of Sale only will be taxed.

If you are a FARMER, bring or send to our office before the end of the auction your current commercial farmer permit to receive the allowed reduced rate from Louisiana Department of Revenue.

If you are an have a resale exemption certificate, please bring a copy and sign the required form R-1079  at checkout.

REMOVAL POLICY:
Please include arrangements for payment and removal to Taylor Auction & Realty, Inc. after invoice receipt. Please take a look at the removal dates on the auction catalog and details page. Buyers are to satisfy themselves as to conditions before bidding. At removal, the buyers will need to verify with staff the lot purchased in the presence of a Taylor Auction & Realty, Inc. employee before moving it from the premises. We won't be responsible for any issues found after the items(s) leave the auction location. Bidder agrees that everything is sold as is and that no return or refund will be granted on any item they purchase. Taylor Auction & Realty, Inc. will not be held accountable for the buyer's additional expenses, such as loading cost, commission, transportation, and mechanical repair fees.

DEFAULT OF BUYERS: Successful buyers not paying for items at the end of the auction will be considered in default. Such default by the Successful Bidder will result in the Bidder’s liability to both the Seller and Auction Company. Seller shall have the right to (a) declare this contractual agreement canceled and recover total damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance, or (c) Seller can resell the items either publicly or privately with Taylor Auction and Realty, Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and Taylor Auction and Realty, Inc., Inc. In addition, Taylor Auction and Realty, Inc. also reserves the right to recover any damages separately from the Buyer's breach. The purchaser agrees to pay all reasonable attorney fees and costs incurred by Taylor Auction and Realty, Inc., to collect funds. Taylor Auction and Realty, Inc. reserves the right to refuse bidding privileges to any person(s).

DECLINED CREDIT CARDS or RETURNED CHECKS:
Any bidders with credit cards declined on reconciliation day or who write us an insufficient check are banned from our system.

RETURN CHECK POLICY
If Taylor Auction & Realty, Inc. receives a returned check, the buyer agrees to pay a $30 returned check fee. The buyer will either agree to pay via certified funds for the entirety of the returned check plus $30 or return the merchandise. If buyer returns the merchandise, they are responsible for paying a commission for selling the merchandise, paying the difference in the amount owed after it sells & any other expenses incurred from the resale of the items. If the buyer defrauds Taylor Auction & Realty, Inc. with a defaulted check and still possesses the merchandise, Taylor Auction & Realty, Inc. will seek proper legal means to prosecute to the fullest extent for punitive, compensatory damages.

Our staff is limited. Therefore, when you purchase large items, please bring enough help.  Taylor Auction & Realty, Inc. is not participating in removal assistance, just location services, and is not responsible for any accidents. However, the Auction Company assumes no responsibility for the removal assistance of the buyer’s things, and the buyer holds the Auction Company harmless in all loading assistance.  Items left are at the risk and responsibility of the buyer. 

CARRIER SERVICES: Taylor Auction & Realty, Inc. will assist the buyer’s carrier with freight services. The buyer must inform the auction firm of freight arrangements.

SHIPPING on smaller items: Auction company can arrange packing and shipping through the United States Postal Service or United Parcel Service. The buyer is responsible for packing and shipping costs, including postage, shipping, and handling charges.  Oversized items shipped by a professional shipping company may increase shipping costs. Also, all items are insured for the purchase price. If we have to drive the item to a professional shipper, an extra amount is assessed to the buyer for our time, travel, and handling fee. For practical purposes for both parties, more oversized items should be physically removed by the purchaser and not shipped because of increased cost.

MISSING ITEMS PROBLEMS REGARDING ITEMS SHIPPED:
We document the contents of each package. We are not responsible for missing items. If we have missed an item in your shipment, our documentation will show that. Please notify us within two business days of receiving the package if you think something is not included. If our documentation shows it was not packed, we will forward it immediately at our cost. We are not responsible for boxes opened by anyone other than the owner.  Please check the entire box and packaging for contents. DO NOT discard the original shipping box and packaging if something is missing. Also, if you see a problem with any item received, please notify us within two business days of accepting the package to address the issue. No claim is responded to after two days.

ITEMS NOT REMOVED:
For any item not picked up on the day(s) established for removal, your credit card will automatically be charged for the invoice amount plus any applicable storage handling fees. If your credit card is not processed and you refuse to honor your bid, you will be blocked from the system. If you cannot make the removal dates, please inform us at (662-226-2080), and we will work with you if possible. However, this auction has strict removal dates. If the buyer does not pick up items or make payments up to date on merchandise, the buyer is blocked for all MarkNet auctions. This includes all auction companies part of the MarknetAlliance Organization, www.marknetalliance.com. This means you will not be able to bid on any online auction of auction companies associated with Marknet Alliance.
If any items are paid for but not removed from the auction location within the established removal time, Taylor Auction & Realty, Inc. has no further obligations to the purchaser who did not meet the removal terms. Items are left at the discretion of the winning buyer/purchaser, and Taylor Auction & Realty, Inc. bears no responsibility for items remaining at the location after specified removal dates.

Liability Waiver and Release: By agreeing to these terms and bidding on this auction, you voluntarily release, indemnify, defend, and hold Taylor Auction & Realty, Inc. and Seller and their respective agents and employees (each a “Released Party”) from any liabilities, claims, losses, causes of action or expense of any kind, including reasonable attorneys’ fees, resulting from a Released Party’s negligent act or omission, arising out of my participation in and presence whether related to bodily injury, infection due to COVID-19 virus or other infections, property damage, or any other form of injury or loss regarding 
INSPECTION DAYS, PAYMENT, AND REMOVAL DAYS of my physical items purchased at the auction location.

Real Estate Terms

A 10% buyer premium applies to the real estate auction.  The hammer bid and the buyer premium will establish the total contract price. 
Before bidding on the real estate, please print a Working with a Real Estate Broker from the Documents Section before you bid. After printing and reviewing, please acknowledge acknowledgment of non-representation by your signature.  Please email info@taylorauction.com or fax to 1.662.227.1653. If you need assistance with these forms, please call us at 1.662.226.2080.

Please look over the property you'd like to purchase before THE ONLINE AUCTION. No sale will be contingent upon a property inspection by the successful bidder after the auction or is the sale contingent upon the Buyer obtaining financing. You are expected to pre-qualify yourself with a lender before the auction. Printed statements or descriptions by staff or the seller are provided in good faith and are matters of opinion. Bidders must conduct and rely solely upon their investigations and inspection regarding the condition and feasibility of the bidder’s intended use. The real property is being sold AS-IS with any faults. Please review all information supplied and seek appropriate assistance before bidding at the auction.

Inspection and Appointment for Real Estate: Please call our office at 662.226.2080

Offering: Real estate is offered as a whole.
A 10% Buyer's Premium will be added to your final bid to equal the contract price. The hammer bid and the buyer’s premium establish the final price.

Buyer's Premium example:
Bid price ($100,000.00) + 10% Buyer's Premium ($ 10,000.00) = Total Contract price ($ 110,000.00)
BUYER'S PREMIUM: Purchaser agrees to pay a premium of 10% of the bid price upon closing, equal to the agreed-upon commission between Seller, Agent, and Purchaser. Purchaser recognizes and agrees that this transaction's 10% premium paid as the commission does not constitute purchaser representation.

CLOSING TIME on REAL ESTATE:
Time being of the essence, this contract shall be closed as soon as possible within 30 days. The seller will pay for the preparation of the deed of conveyance and prior real estate taxes past due. All other closing costs, i.e., survey fees, title work, and other fees associated with the closing, are the buyer's responsibility.

CLOSING LOCATION AGENT:
The closing agent/location will be provided no later than ten (10) days after the auction.

TAXES:
2024 Taxes will be prorated to the day of closing. The seller will pay any prior year's taxes.

POSSESSION:
Purchaser shall receive possession of the property at closing.

ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions but are not guaranteed.

BIDDER BROKER PARTICIPATION: A Bidder Broker Participation Form is available if you use a broker for bidding assistance. Please call our office for the form.

RESTRICTIONS:
Property restrictions are subject to all Specific City, County, and State of Louisiana laws, ordinances, and regulations. The property is selling with all easements of record. The owner warrants good merchantable title to the real estate and will convey the same with a deed, free from all encumbrances, liens, or judgments at closing.

SPECIAL INSTRUCTIONS:
Any special instructions must be written on the sales contract today. Complete terms and conditions will be provided before auction day and specified within the Contract for the Sale and Purchase of Real Estate. 

AUCTION CONTRACTS:
At the close of the auction, if the seller accepts the bid, the bidders will be emailed a contract to be executed and returned to Taylor Auction & Realty, Inc. Successful bidders will deposit 10% of the contract price per property in the form of cashier's check or wire transfer to Taylor Auction & Realty, Inc. within 24 hours of contract ratification by the seller. The entirety of the remaining balance is due at closing. The purchaser will be responsible for all wire transfer fees. You will be closing on the property on which you are the successful bidder in the final manner you bid at the auction.

AUCTION BID DEFAULT:
A successful bidder not executing and returning the contract with an earnest money deposit within 24 hours of the conclusion of the auction will be considered in default if a winning bidder fails to submit the signed Contract for the Sale and Purchase of Real Estate and 10% of the High Bid Price in earnest money deposit. In that case, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder if the successful high bidder does not comply with the terms of the sale.

LIQUIDATED DAMAGES:
If the buyer does not close within the stated time on the contract and the seller has not granted a written extension, the buyer will forfeit all of the 10% escrow deposit. If such action occurs, Taylor Auction & Realty, Inc., at this moment, has the right to disperse the deposit as stated in the listing agreement, and the buyer has no claims to such money or property being sold. Liquidated damages cover the cost of the auction, the cost incurred by the seller, labor cost, and additional cost of the auction as not defined in this agreement.

Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT:
Taylor Auction & Realty, Inc. is the seller's agent, and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not a buyer's agent. TAR reserves the right to remove or cancel the bids, bidding rights, and privileges of any party deemed not in the seller's best interest. Taylor Auction & Realty, Inc. reserves the right to cancel the auction. The seller and buyer agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement at this moment made a part of. Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical to produce the best offer to the Seller.

BROWSER INFORMATION: Google Chrome and Mozilla Firefox are the preferred Internet browsers for our bidding platforms. Because Microsoft is phasing out support for Internet Explorer 8, 9, and 10, bidders are more likely to have issues with Internet Explorer when using our website.

SERVER & SOFTWARE TECHNICAL ISSUES:
If there are technical difficulties related to the server, software, or other online auction-related technologies, Taylor Auction & Realty, Inc. reserves the right to lower the starting bids, extend, continue, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information deemed necessary by Taylor Auction & Realty, Inc.

Hold Harmless: Buyer and or bidder agree that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees, and its Representatives from any claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of the said auction and to look solely to the Seller for any remedy demanded.

SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES: Any claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought to the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder, and Buyer each individually and collectively by participating in the Auction conducted by Taylor Auction and Realty, Inc. do at this moment irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction.

Bidder Acknowledgment: Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor, or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies, and any servant, agent, or employee of the same by bidder’s participation in this auction. The bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction. Disclaimer of warranties: There are no understandings, agreements, representations, or warranties, express or implied, not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose.

Bidder Responsibilities: Bidder responsibilities include but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for any activity involving their account. You must obey local, state, and federal laws when using the website. Violations will result in the termination of website use privileges. Auction company employees and the Auction Company may bid on the auction for absentee bidders or at the direction of interested bidders.

Guaranty Agreement regarding bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby they guarantee earnest money payment to Taylor Auction & Realty, Inc. and completion of the transaction.
Reasonable Accommodation: Taylor Auction & Realty, Inc. is an employer and professional service organization that has no intention to discriminate based on disability or other legally prohibited bases. We are an affirmative action, equal opportunity employer and service provider. Our decisions are made without regard to race, color, religion, sex, disability, sexual orientation, gender identity, national origin, veteran status, or genetic information. Accommodations are made regarding hiring employees or assisting clients or customers regarding our services unless the accommodation will impose an undue hardship.
Requests for reasonable accommodations should be directed to Ruthie Taylor @ Ruthie@taylorauction.com.
By bidding on any item, the bidder accepts the auction terms.

I appreciate your interest in this auction.
Benny Taylor CAI AARE CAGA
Taylor Auction & Realty, Inc.

INFORMATION IS SUBJECT TO CHANGE: Announcements in updated terms posted on the website will take precedence over any previously viewed terms at registrations, previous material, or other oral statements. Please take a look at the terms periodically for any changes.

186 Persimmon Mill Road
Ferriday, Louisiana 71334
United States