Terms and Conditions for Purchase of Real Estate at Auction
Bidders must register to bid for the auction at fargoauctions.com. It is very important that you inspect the property before bidding! This property is selling AS IS, WHERE IS. No warranty is given either expressed or implied. By placing bids on this property, you are making an offer to purchase. All bids are irrevocable and cannot be retracted. The property is offered on a cash basis and is not contingent upon the availability of financing or any other reason. Upon becoming the highest bidder, you will be required to sign a Purchase Agreement and render the required Earnest Money ($10,000) within 48 hours of the auction completion. In the event of your failure to close, the Earnest Money deposit will be forfeited. Seller will guarantee good and clear title and issue a Warranty Deed. Closing will take place within 30 days or sooner if Buyer and Seller are willing and able. Time is of the essence.
SNB Enterprises LLC DBA Fargo Auctions and James Patrick Real Estate Inc. reserve the right to solicit back-up purchase contracts from contending bidders. Such back-up contracts may automatically be in a position to become the successful contract in case the first purchase contract fails to close.
Auction End Times and Auto Extend Feature: SNB Enterprises LLC DBA Fargo Auctions’ Online Only Auctions are timed events, and all bidding will close at a specified time. SNB Enterprises LLC DBA Fargo Auctions’ Online Only Auctions have an auto extend feature. If any bid is placed in the final 2 minutes of an auction, the auction ending will be automatically extended by 2 minutes. In the event the auto extend feature is activated, the auto extend feature remains active until no further bids are received within a 2-minute time frame following the specified end time of the auction. Online auctions are computerized events. Although extremely rare, technical issues can arise. Therefore, in fairness to both sellers and buyers, SNB Enterprises LLC DBA Fargo Auctions, at its discretion and for any reason, may halt, suspend, close, or reopen any auction or item offered through our online services deemed necessary if circumstances warrant such action. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction closing. Under no circumstances shall Bidder have any kind of claim against SNB Enterprises LLC DBA Fargo Auctions, fargoauctions.com, or anyone else if the internet service fails to work correctly before or during the auction event. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid(s) at least 1 hour before the auction closing. Bidders that wait until the final seconds before the auction closing, accept the risk that their bid may or may not be received in time or accepted by fargoauctions.com.
James Patrick Real Estate Inc. are agents for the Seller only.
Notice to Buyers with a Buyer Representation Agreement
Buyers with an established Buyer Representation Agreement should discuss their obligations with their Broker. Real Estate Brokers who do have an established Buyer Representation Agreement, will be compensated 1% of purchase price at close. Brokers who wish to represent a Buyer must contact Fargo Auctions at least 24 hours prior to the auction close time to register their Buyer and accept the terms of Buyer Broker Representation.
ALL ITEMS ARE SOLD AS IS, WHERE IS, WITH ALL FAULTS AND WITH NO WARRANTY.
Fargo Auctions recommends that all bidders inspect items before placing bids.
**At the buyer's election, all personal property and contents located within the garage shall be removed by the seller prior to closing.**
Terms and Conditions of Sale
By placing a bid, you accept all of the following Terms and Conditions of Sale and the Terms and Conditions of Service. Please read the Real Estate Terms & Conditions before placing a bid.
The Earnest Money Deposit shall be equal to $10,000.00 and is NON-REFUNDABLE. This will be delivered within 48 hours of the auction close.
The Earnest Money will be made payable to "The Title Company" (35 4th Street N Suite 101 Fargo, ND 58102) and held in their escrow account and applied to the final purchase price.
This is a reserve auction. The opening bid will be posted. The seller has set an unpublished reserved price that is higher than the suggested opening bid. All bidders should be aware that the reserve price may be withdrawn at any time, at the seller's discretion. Accordingly, any bidder may become the high and winning bidder, without any prior notice.
CLOSE OF AUCTION
This auction shall end at 5:00 pm on Sunday October 26th, 2025; provided, however, that this auction will close using an extended bidding format.
BUYER’S FEE OR PREMIUM
A buyer’s fee of 5% (premium) will be charged.
INSPECTION INFORMATION
Open house Wednesday October 22nd, 2025 from 5:00pm - 6:00pm
If you have any auction-related questions, please contact:
Taylor Olsen or Ciara Olsen: (701) 866-1559 | ciara@fargoauctions.com
If you have any real estate related questions, please contact:
Dan Perrine: (701) 540-3747 | dp@jamespatrickrealestate.com
Online Real Estate Auction Terms
Please review this document carefully. To register and receive access to the online bidding platform, a Bidder must accept and acknowledge these Terms and Conditions.
- 1. AUCTION REGISTRATION:
Registration is required to become a qualified and eligible bidder (“Bidder”) for the Auction. To become fully registered and eligible to bid, a prospective Bidder must:
(a) Complete the bidder registration located on the website at www.fargoauctions.com
(b) Fully accept and agree to these Auction Terms and Conditions.
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, the seller will reject the bidder’s registration. All bidding is open to the public without regard to a prospective bidder’s sex, race, color, religion, or national origin.
WHETHER OR NOT YOU ACTUALLY INSPECT THE PROPERTY, YOU WILL BE BOUND TO ACCEPT THE PROPERTY “AS IS” AND WITH ALL FAULTS AND DEFECTS AND WITH NO EXPRESSED OR IMPLIED WARRANTY AS TO MARKETABILITY OR THE CONDITION THEREOF. It will be your responsibility to make any needed repairs, improvements or compliance requirements to bring the property to applicable codes. Sellers reserve the right to reject any and all bids.
2. WINNING BID, TOTAL PURCHASE PRICE, EARNEST MONEY DEPOSIT, and PURCHASE AGREEMENT:
(a) Immediately following the close of the auction event, if the bids are deemed acceptable, the Winning Bidder for the property will be required to execute, as Buyer (“Buyer”), the Real Estate Purchase Agreement and applicable Addendums, if any, (“Agreement”) with no exceptions, and tender the earnest money deposit. No modifications to the form of the Agreement will be accepted. Failure to execute the Agreement in the form presented or to tender the earnest money deposit may result, at the Seller’s option, in a voiding of the sale and resulting in the sale of the property to the next high bidder, or placement of the property back on the market. Winning Bidders not executing and returning their Agreement with earnest money deposit within may be considered in default and subject to Administrative Fees and liable for failure to specifically perform. All Administrative Fees are non-refundable. The required earnest money deposit shall be held in a trust account with the Seller’s designated closing agent pursuant to the terms of the Agreement.
(b) The Earnest Money Deposit shall be equal to $10,000.00 and is NON-REFUNDABLE. The Earnest Money will be made payable to "The Title Company" (35 4th Street N Suite 101 Fargo, ND 58102) and held in their escrow account and applied to the final purchase price. This will be delivered within 48 hours of the auction close. SNB Enterprises LLC DBA Fargo Auctions and the Seller assumes that the bidders have inspected the property and are satisfied with the conditions of such property and accept that property in an “as is,” “where is” condition. The buyer agrees to hold SNB Enterprises LLC DBA Fargo Auctions and its client harmless regarding any representation as to the status, zoning, condition and any other material representation regarding this property.
(c.) All high bid(s) will only be considered binding upon seller when seller signs Purchase Agreements. Whether or not the bidding Internet platform indicated “sold” or “closed” the acceptance of high bid is only binding upon seller when seller signs Purchase Agreement.
3. CLOSING AND PAYMENT OF TOTAL PURCHASE PRICE:
(a) The Closing date (“Closing”) will be within 30 days of auction close, unless extended by Seller.
(b) The Total Purchase Price will be due and payable by Buyer at Closing. Buyer shall receive credit for the Earnest Money Deposit which shall be released from escrow and applied by the Settlement Agent towards the Total Purchase Price at Closing.
(c) Time shall be of the essence as to all of Buyer’s obligations. Any buyer not closing within the contractual time period to close may forfeit his / her earnest money.
(d) It is understood and agreed, when represented, that title to the property shall be insurable after closing and will be conveyed to the Buyer by Warranty Deed (the “Deed”). The acceptance of the Deed by Buyer shall constitute and be deemed and considered full compliance by the Seller of all the terms and conditions of the Agreement on the part of the Seller to be performed. It is further expressly agreed that none of the provisions of the Agreement shall survive the delivery and acceptance of the Deed, except insofar as may therein otherwise be expressly and specifically provided.
(e) Buyer agrees that the Property is subject to all laws, ordinances, codes, rules and regulations of applicable governmental authorities pertaining to the ownership, use and occupancy of the Property including, but not limited to, zoning, land use, building codes, and agrees to take title subject to such matters, and the following permitted exceptions: (i) all covenants, restrictions, easements and agreements of record now on the Real Property; (ii) the state of facts which would be shown by a current survey or inspection of the Real Property; (iii) any matter created by or through Buyer; (iv) any title matters which Buyer has accepted or is deemed to have accepted as set forth in the Agreement; (v) such other items that will not make the Real Property unusable or unmarketable for the purposes for which it is currently used. . (vi) It is the Purchaser’s responsibility to make needed repairs or improvements, if any to bring the property up to necessary state, local, and federal codes. The Pifer Group, Inc. and the sellers obtained information from sources deemed reliable, but do not guarantee its accuracy. Due diligence of property and related information by buyer is strongly recommended.
4. BUYER’S NOTE:
(a) The Seller, Broker, Auctioneer and their representatives, attorneys, agents, and sub-agents, assume no liability for errors or omissions in this or any other property listing or advertising or promotional / publicity statements and material. The Seller, Broker, Auctioneer and their representatives, attorneys, agents and sub-agents, make no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional / publicity statements and material. Neither Seller, nor Broker nor Auctioneer has any obligation to update this information. Neither Seller, nor Broker, nor Auctioneer not their Agents and Sub-Agents, have any liability whatsoever for any oral or written representations, warranties, or agreements relating to the Property (including information appearing in advertisements or announcements / updates prior to the time of the Auction) except as is expressly set forth in the Agreement.
(b) The Property is sold in its “AS IS” condition with all faults and limitations and no warranties expressed or implied. All Bidders are encouraged to inspect the Property prior to placing any bid and the Winning Bidder, as Buyer, acknowledges that he/she/it has had a reasonable opportunity to inspect and examine the condition of the Property and make inquiries of applicable governmental authorities pertaining to Buyer’s proposed use of the Property prior to the Auction as Buyer has deemed necessary or desirable. (d) Competitive bidding is an essential element of an Auction sale, and such a sale should be conducted fairly and openly with full and free opportunity for competition among bidders. Any conduct, artifice, agreement, or combination the purpose and effect of which is to stifle fair competition and chill the bidding, is against public policy and will cause the sale to be set aside. Collusion / Bid Rigging are a Federal Felony punishable by imprisonment and fine. Seller will report all illegal conduct to the F.B.I. and cooperate with any prosecution.
(c) The Seller in its absolute sole discretion reserves the right to amend, negotiate, modify, or add any terms and conditions to these Terms and Conditions and to announce such amendments, modifications, or additional terms and conditions on, during or before the Auction. The seller reserves the right to reject any and all bids. All high bids will only be binding upon seller when seller signs purchase agreement.
(d) Back-up bids will be recorded and received. Should the Property not close with the original winning bidder (Buyer), the Seller in its sole discretion will have the option to pursue back-up bids.
(e) Review of the Agreement (Sample Real Estate Purchase Agreement and applicable Addendums) before making any bids is strongly recommended. No modification to the form of the Agreement will be accepted, at Seller’s sole discretion.
(f) The Property may be withdrawn at any time without notice and is subject to additional deletions and / or prior sales. All Pre- Auction offers are encouraged and will be considered.
5. ANNOUNCEMENTS:
All announcements and updates prior to the Auction will take precedence over all previously printed material and any other oral statements made. As a bidder it is your responsibility to know and understand all announcements/updates before the auction begins. In the event of a dispute over any matter, the Seller shall make the sole and final decision and will have the right either to accept or reject the final bid or reopen the bidding. Bidding increments and order of sale shall be at the sole discretion of the Seller.
6. ONLINE BIDDING:
The Auction is being conducted solely by Online Internet bidding via www.fargoauctions.com. All Interested bidders must obtain, fully complete, and accept the proper forms as indicated above in order to receive your secure password and user ID with instructions allowing access to the online bidding platform.
7. DEFAULT:
If the Buyer fails to comply with any of these Terms and Conditions, or if the Closing shall not occur on or before closing date because of the fault of Buyer, the Seller may retain the earnest money deposit and any required deposit(s) under the Agreement as liquidated damages and not as a penalty. By retaining the deposits, Seller does not waive any right or remedies it may have because of the Buyer’s default. It is intended hereby that all of the rights and remedies of Seller available either pursuant to the terms of this Agreement, or under the law or otherwise, are cumulative and not exclusive of any other such right or remedy.
8. REPRESENTATIONS:
All information was derived from sources believed to be correct but is not guaranteed. Bidders shall rely entirely on their own information, judgment, and inspection of the Property and records. Neither Seller, Broker, Auctioneer its Agents nor Sub-Agents makes any representation or warranties as to the accuracy or completeness of any information provided. All sizes, dimensions, drawings are approximations only.
9. OFFICE OF FOREIGN ASSETS CONTROL (OFAC) COMPLIANCE:
All bidders are subject to providing appropriate government identification that includes full legal name and date of birth. In addition, all bidders are subject to being required to disclose their place of birth. By providing this information bidders agree to allow Seller to perform a search of the Specially Designated Nationals List, Blocked Persons List and Sanctioned Country List provided by the United States Office of Foreign Assets Control. Seller reserves the right to reject any bidder from registration after this search has been completed. By registering all bidders agree to abide by all of these Terms and Conditions.
10. RESERVE AUCTION:
This is a reserve auction. The opening bid will be posted. The seller has set an unpublished reserved price that is higher than the suggested opening bid. All bidders should be aware that the reserve price may be withdrawn at any time, at the seller's discretion. Accordingly, any bidder may become the high and winning bidder, without any prior notice.
11. BIDDING PROCESS:
All bids are an irrevocable offer to buy and shall remain valid and enforceable until the Seller signs a Real Estate Purchase Agreement and the auction has concluded. The bidder’s number, secure password and user ID is nontransferable.
12. BUYERS PREMIUM:
There will be a 5% buyers premium on this sale.
13. ENVIRONMENTAL DISCLAIMER:
The Seller, Broker, Auctioneer, agents, and their agents, contractors and employees do not warrant or covenant with Buyer(s) with respect to the existence or nonexistence of any pollutants, contaminants, mold, or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the premises. Buyer is to rely upon its’ own environmental audit or examination of the premise.
14. ALL SALES ARE FINAL:
By registering and bidding, the Buyer acknowledges they understand, accept, and agree to these Terms and Conditions. The Buyer acknowledges that they have read the Sample Real Estate Purchase Agreement and Addendum and the Terms and Conditions of the Auction Sale posted on the website and accept the Real Estate Purchase Agreement without any changes to the pre-printed text. The Buyer must sign the contract Addendum after the Auction concludes and deposit the required earnest money deposit as instructed. In the event a Winning Bidder fails to submit the signed Addendum and earnest money deposit as stipulated in the Agreement, the Winning Bidder will be charged an Administrative Fee. Additional default remedies are reserved by the Seller as provided in these Terms and Conditions. All administrative Fees are Non-Refundable.
15. HOLD HARMLESS:
Seller, Broker, and Auctioneer cannot, and will not, be held responsible for any interruption in service, errors, and / or omissions, caused by any means, therefore they cannot guarantee continual, uninterrupted or error free service as the website could be interfered with by means out of their control. Bidder acknowledges that the online auction is conducted electronically and relies on hardware and software that may malfunction without warning. The Seller may void any sale, temporarily suspend bidding and re-sell the Property that was affected by any malfunction. The decision of the Seller is final. Bidder agrees not to use any device, software or routine to interfere or attempt to interfere with the proper working of any transaction being conducted during the auction.
ACKNOWLEDGMENT AND ACCEPTANCE:
The Undersigned Bidder acknowledges receipt and copy of these Terms and Conditions and having read and understood the provisions set forth therein, accepts same and agrees to be bound thereby, by placing a bid on this auction.
