Auction Terms & Conditions ONLINE AUCTION TERMS AND CONDITIONS
Online Auction: This auction is being conducted as a timed ONLINE Auction. The auction will begin on April 1, @ 10 AM EST and end on April 15@ 1 PM EST. If a bid is placed within three minutes of the bidding deadline, the deadline will be extended by an additional three minutes. The three-minute extension will continue until no bid is placed within three minutes of the bidding deadline. You can participate in the bidding from a computer or mobile device by logging on and registering at www.assetiqllc.com. A valid credit card must be used to register to bid.
Payment. The highest bidders will be notified by email upon the conclusion of the auction that their bid is being submitted to the bankruptcy trustee for final approval. Final approval will occur no later than 12 PM on Thursday, April 16, 2020. Payment will ONLY be accepted in the form of cashier’s check, cash or wire transfer. To make wire transfer arrangements please contact Cindy Chambers at 513.724.1133. Cashier’s check or cash may be delivered to our office between 9 AM & 4 PM on Thursday, April 16 or Friday, April 17, 2020. Payment must be made in full no later than 4 PM Friday April 17, 2020. Any unpaid balances are subject to collection by the Federal Bankruptcy Court.
Removal, and Storage. Removal will vary depending upon the method of payment as follows: • Payment by Wire Transfer: Unit may be removed upon confirmation from our bank that the transfer was completed. Normally 12 to 24 hours. • Payment by Cash or Cashier’s Check: Unit may be removed immediately upon payment by cash or cashier’s check. Removal may ONLY be conducted by appointment between the hours of 9 AM & 4 PM Monday thru Friday.
Titles. The title will be mailed to the Buyer within 30 days of satisfactory payment. A Bill of Sale will be issued upon receipt of acceptable funds. The Buyer may obtain Temporary Tags in Ohio by presenting the Bill of Sale to the BMV. Titles shall be sent to Purchaser by Certified Mail, Return Receipt.
The vehicle MUST be removed by 4 PM on Friday, April 24, 2020. If the vehicle is not removed by this time, storage charges in the amount of $50 per day will be charged at Buyer’s expense which must be paid before vehicle leaves the premises. Buyer hereby grants Asset IQ LLC an irrevocable power of attorney to remove and/or store purchased vehicle at Buyer’s expense. The vehicle shall not be released until Asset IQ LLC has received payment in full in good cleared funds.
Buyer Premium. A fifteen percent buyer premium will be added to the high bid amount to determine the full purchase amount to be paid by the purchaser. Therefore, the full purchase price to be paid by the Buyer is the sum of the final bid price as acknowledged and accepted by the software/program, plus the Buyer Premium of fifteen percent of the final bid price. Example: High bid amount of $10,000 plus $1,500 (fifteen percent buyer premium) equals final purchase price of $11,500.
Licensing fees. In addition, the Buyer shall be responsible for any and all licensing fees required by their State at the time of title transfer.
Insurance. Insurance of all vehicles purchased shall be the Buyer’s responsibility. Buyer is advised to place insurance on all purchases prior to removal.
“AS-IS” – no warranties. All vehicles are being sold “AS-IS, WHERE-IS, WITH ALL FAULTS, and as the bidders believe them to be”. Bidders are responsible to inspect the vehicles prior to bidding and satisfy themselves as to the condition of the vehicles and all other matters relating to the vehicles, including without limitation, year, make, model, options, engine, drive, condition, value, quality, authenticity, and auction description.
ALL SALES ARE SUBJECT TO BANKRUPTCY TRUSTEE APPROVAL
Seller User Terms
Bidder User Terms