2197 E US Hwy 64
Lexington, NC 27292
Online Only Bidding
Please take the time to read the following set of terms and conditions for the online auction.
When you register to bid, you will have to acknowledge that you have read these terms and
conditions. If you intend to register, the following items will pertain to you.
Bidders Choice: Selling Subject to Seller Confirmation
Property is being offered in 4 lots to be surveyed by Buyer
Lot 1- House and approximately 1.3+/- acres, sheds, workshops
(ID# 6745-03-34-0556) (ID# 6745-03-34-1617)
Lot 2- Approximately 3.88+/- acres and sheds
Lot 3- 1.18+/- Acres
Lot4- 6.36+/- Acres with all improvements
Acreage & Survey:
Auctioneer/broker does not have any current survey on file.
The Swicegood Group, Inc. is acting as an agent of the Seller and at no time acting on behalf of
the Buyer. By accepting these terms, you acknowledge you have reviewed the North Carolina
Real Estate Commission's "Working with a Real Estate Broker" form and will sign if you are the
winning bidder. (See form below)
Buyer's Premium: There will be a Ten Percent (10%) Buyer’s Premium added to the final bid
price to determine the final contract purchase price. For example, a bid of $100,000 is a contract
price of $110,000.
Identity/Credit Verification: To verify the identity of the cardholder and that the credit card
used is valid, we require a $100.00 authorization hold to be placed on your credit card to
complete your registration. This hold will be removed by your bank in a 24/48-hour timeframe
(varies bank to bank). Bidding rights are provisional, and if complete verification is not possible,
The Swicegood Group, Inc. will cancel your registration, and bidding activity will be terminated.
The Seller and The Swicegood Group, Inc. reserve the right to refuse service to any person who
they feel to be fraudulent.
Seller’s Side Attorney:
Online auctions are timed events, and all bidding will begin to close at a specified time. Online
auctions also have an auto-extend feature. Any bid placed in the final few minutes of the auction
will automatically extend the auction minutes from the time the bid was placed. Example: If an
auction is scheduled to close at 6:00 and we receive a bid at 5:59, the close time will
automatically extend the bidding window. The auto-extend feature will continue all lots until the
bidding has ended. If the auto-extend time needs to be increased or decreased, The Swicegood
Group, Inc. may do so at any time during the auction until the close of bidding.
Outbid /Back-In Notification/Max Bid:
During this auction process, there is a chance that you will be outbid. If you have the bidding
app, you will receive a popup notification, otherwise, you will receive an email. It is the
responsibility of the bidder to realize and maintain their desired bidding position. You may place
a maximum (max bid) which will allow the computer to protect you up to that amount. If you
place a bid and immediately get a message that you have been outbid, that means someone has
already placed a max bid and you will need to continue bidding until you are the high bidder to
supersede the previously inputted max bid.
Property Information & Inspection:
The Swicegood Group, Inc. is not responsible for any missing or incorrect listing information.
The Swicegood Group, Inc. has attempted to provide accurate descriptions; however, it is the
Bidder's responsibility to conduct inspections to determine the condition and feasibility of the
Bidder’s intended use. Descriptions that are provided by The Swicegood Group, Inc. are
provided in good faith and are matters of opinion. It is automatically acknowledged by
registering that you have personally inspected the property, hired an agent to inspect the
property, or waived your right to inspect the property. Placing a bid creates a contractual
agreement to purchase the property at the high bid price plus a Buyer’s Premium and any
additional fees included in the closing of real estate.
The Swicegood Group, Inc. has full discretion to modify the date and time, order, and details of
the auction for any reason or no reason at all, including but not limited to technical issues,
emergencies, and the convenience of The Swicegood Group, Inc., or the Seller. Auctioneer does
not preclude the right of any employee, stockholder, or subcontractor the right to bid on any
auction. Auctioneer reserves the right to bid on behalf of the seller unless the sale is an absolute
Server & Software Technical Issues:
In the event there are technical difficulties related to the server, software or any other online
auction-related technologies, The Swicegood Group, Inc., and the Seller reserves the right to
extend bidding, continue the bidding, or close the bidding. Neither the company providing the
software nor The Swicegood Group, Inc., or the Seller shall be held responsible for a missed bid
or the failure of the software to function properly for any reason. The Swicegood Group, Inc.
may send email notifications to registered Bidders with updated information as deemed
A deposit of $5,000 (five thousand dollars) is required as an earnest money deposit in the form of
a certified check or wire transfer. The earnest money deposit is a credit towards purchase price
only at closing and is due within 24-hours of contract execution date with time being of the
essence. The balance of the contract purchase price is due at closing, which shall be in thirty
days to no more than forty-five days or upon delivery of the deed. In the event the Seller cannot
produce a deed with an insurable title, the earnest money deposit will be refunded to the Buyer.
Closing will be as specified in the Auction Purchase Contract. Financing is welcome however,
the auction sales contract is not contingent on or subject to financing, appraisal, survey, or
inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in
the Auction Purchase Contract.
Auction Purchase Contract:
The contract is required to be fully and correctly executed, without any modifications within 24-
hours of the close of the auction and/or Seller’s confirmation, with time being of the essence. A
contract that is incomplete, incorrect, or modified in any respect, is in default. By bidding on the
property, the Buyer agrees to all terms and conditions set forth.
Property is to be closed within 30 to 45 days (per contract).
Buyer’s closing costs can include new boundary survey (if necessary), title search fees, title
insurance premiums, recording fee of documents, Buyer’s prorated items, and any other fees
required for closing. Seller’s closing costs are limited to their portion of the prorated tax/HOA,
revenue stamps, and the cost of deed preparation. All parties will be responsible to pay their own
All property in this auction is selling “AS-IS, WHERE IS” with all faults if any. The Swicegood
Group, Inc. makes no representations or warranties, expressed or implied, concerning the
property. Descriptions of the property are believed to be correct but are not guaranteed. It is the
Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods
end the date the auction is scheduled to end, and prior to the end of the auction. It is possible that
the property being sold is subject to restrictive covenants and homeowner’s association rules,
regulations, and dues. It is the Buyer’s responsibility to inspect all aspects of the property before
placing a bid. No sale shall be invalidated by the Buyer because he/she did not conduct their own
inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by
placing a bid that you have personally inspected the property, hired an agent to inspect the
property or waived your right to inspect the property.
The laws of the State of North Carolina shall interpret this document.
All causes of action resulting from this auction shall be heard in the General Court of Justice of
Davie County, North Carolina as the sole and exclusive venue for North Carolina properties.
Auction Bidder and/or Buyer Default:
The successful Bidder/Buyer whose bid is confirmed and who does not execute and return the
contract with the earnest money deposit within 24 hours of the conclusion of the auction and/ or
Seller’s confirmation notice, will be considered in default and will be black-flagged in our
database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions
and the Seller has the right to exercise all legal remedies for such breach of contract. The
Swicegood Group, Inc. reserves the right to sell to the next highest qualified Bidder. By
registering and placing a bid, you agree that if you become a Bidder in default as specified
above, The Swicegood Group, Inc. has the right to charge your credit card a penalty of up to onehalf
of the required earnest money deposit.
Auction Cancellation – Bid Rejection:
The Swicegood Group, Inc. reserves the right to reject all bids for any reason. The Seller and/or
The Swicegood Group, Inc. as Seller's representative reserves the right to cancel this auction or
remove any item or lot from this auction prior to the close of bidding even if a bid has been
placed, unless the auction is advertised Without Reserve or Absolute.
As specified in the Auction Purchase Contract.
Possession delivered at closing.
Real Estate Taxes and Closing Cost:
Taxes will be prorated to the day of closing using the most current available year’s tax amount.
HOA fees and condominium assessments, if applicable, will be prorated up to the date of
closing. The Buyer will pay as elected, other closing costs associated with their side of the sale
such as title search, title insurance, including local and state recording fees.
Easements & Zoning:
Subject to all easements recorded or unrecorded.
Acreage & Aerial Photos:
Parcel dimensions/Aerial photos/approximate acreages are based on legal descriptions and or
mapping tools provide by Davidson County GIS and are for illustration purposes only and are
not to be considered as certified surveyed boundary lines.
Bidder responsibilities include but are not limited to the following: Bidders agree to keep their
username and password confidential, as they are responsible for ALL activity involving their
account. When using the website, you must obey all local, state, and federal laws. Violations will
result in the termination of website use privileges. The Swicegood Group, Inc. gathers aggregate
information from the website, which may include but is not limited to, the number of page
visitors, most visited pages, and all correspondence. Bidder agrees that the email address
provided may be used for correspondence during the auction and possibly future auction
By submitting a bid in the name of a business entity or corporation, the individual submitting the
bid enters into a guaranty agreement whereby he or she personally guarantees payment in full to
The Swicegood Group, Inc. as fiduciary.
All Bidders must be eighteen (18) years of age or older.
Bidder Registration; Bidder Qualification; Waiver. YOU must register to bid. Auctioneer may establish such Bidder Registration requirements and Bidder qualification criteria as determined, in Auctioneer’s discretion, to be reasonably necessary or appropriate. In order to register to bid, YOU must provide such information (including identifying and financial information) as requested by Auctioneer. Auctioneer may refuse to accept a Bidder Registration from any potential Bidder, may refuse to grant bidding privileges to any potential Bidder, and may revoke the Bidder Registration or bidding privileges of any Bidder. Auctioneer may, in Auctioneer’s absolute discretion, receive bids from a person or entity that has not registered to bid, and/or has not satisfied all requirements for Bidder Registration, and, by bidding, such person or entity will be bound by Auctioneer’s Bidder Terms and Conditions. Bidder qualification and registration provisions are intended for the benefit of Auctioneer and Seller, and create no rights or interests in any other persons, including competing Bidders. Auctioneer and/or Seller may (but will not be required to) waive any Bidder qualification and/or registration provisions, either globally or on a case-by-case basis.