AUCTION TERMS AND CONDITIONS
Article 1: The above described property is sold such and in the condition in which it is located at the time of the sale without any indemnification and fully benefit and the buyer’s damages.
Article 2: The sale of each of the properties carried out in one lot, according to local practice in two stages:
1. a first, commitment, by bidding.;
b. Second, the exit by Dutch auction. This is done one after the other in a single session.
2. The offer shall be made by bidding openly clearly visible manner.
3. Bidding by Dutch auction orally by calling the word “mine” when calling the amount by the auctioneer or by the notary.
4. Bringing more people at a time the highest bid, then immediately auctioned by auction complementary between them. If aforementioned persons do not bid in this supplementary auction, the highest bidder shall be designated during the session by lot in the presence of the notary.
5. The amount which is afgemijnd in turn, serves as the highest bid. The bid must be higher than the opening bid. Afgemijnd is not there, then the opening bid is regarded as the highest bid. 6. If the vendor brings more registered property at auction, he can these plots to the exit, except separately, also offer one or more combinations, provided that it is intention that purpose made appearance takes place at the start of the auction phase of the turn. Bid of less than FIVE HUNDRED DUTCH Antillean guilder (ANG 500, -.) Is not adopted unless the executor decides otherwise. All allocations are made only if the bidder also otherwise complies with the provisions of these terms and conditions. Article 3: He who declares, for having given is obliged to call his principal one another and, if he can not provide an instrument of mandate to the satisfaction of the executor, these do ratify his actions immediately; he may with the consent of the executor reserved the right to name his principal within ten days after the auction by deed of lastnoeming. Any delay, by negligence or refusal of endorsement or adoption of the sale by him who acted or should have been bought, the highest bidder shall be deemed to themselves to have offered. – 2 – The bidder and its principal are jointly and severally liable for the payment of the purchase price and the costs and in general for the performance of any obligation arising under the auction.
Article 6: The executor is entitled to refuse any bid without giving reasons and accepting previous bidder, ie each bidder to held to his bid at the end of the auction, subject to the right of the executor to then proceed immediately to re-auction . The executor is also entitled to detention or delay the auction without giving reasons. Article 7: For sale on behalf of all purchasers are jointly and severally liable to be liable for the payment of the purchase price and the costs and further fulfillment of the contents of these conditions.
Article 8: Difference between actual and this protocol specified location, boundaries, extent and further description of the auctioned goods, gives no ground to increase or reduce the purchase price or annulment of the sale.
Article 9:
1. The buyer will be above the purchase price to pay the fees of the notary stamps, stamp duty, payable and overdue property taxes and ground rent and the cost of delivery.
2. For account of the buyer are also the costs of bail or other security, the act of command or discharge of any purification and legal arrangement concerning herds, which were now resting on the property. The buyer will itself have to take care of any purification and grade control.
Article 10: The costs of execution, including the costs of the bailiff and advertisements, the possible reward of the auctioneer and the room rent and all other costs of preparing the public – 3 – auction are under Section 3: 277 paragraph 1 of the Civil Code paid from the purchase price. Article 11: The buyer will own and wear their own account for the evacuation of the property care and all that effect the rights and powers executor may have now are in this to the extent necessary, now for then issued to the purchaser and transferred .
Article 12: Within fourteen days of the date the buyer shall, notwithstanding any disturbance and without any offsetting whatever name and for whatever reason, to pay the purchase price at the office of the notary. The costs referred to in Article 9 paragraph 1 shall be paid within twice twenty-four hours after the auction and the office of the notary.
Article 13: The buyer after payment of the sale proceeds and the cost themselves at their own expense in the possession and enjoyment of providing purchased by him and will be available at the discretion thereof. The property is at the expense and risk of the buyer from the eyes of token allocation.
Article 14: The buyer neither the delivery of the allowed claim they buy nor an average, a copy or extract of the minutes may require in order himself to provide the delivery, after before having paid the costs and buy tokens .
Article 15: All disputes are to be decided is held by the notary public before whom the auction might arise regarding the auction will be the highest court.
Article 16: If the buyer fails to comply within the time limit the purchase price and expenses, he will be in default by the end of the period and the executor shall be entitled:
a. to rescind the purchase agreement writ, without that it will be necessary that it was seeking the court to dissolve, and proceed to re-auction. The buyer remains in default will be required within fourteen days after it its task will be done, as compensation to meet the executor: 1. if a lesser amount is offered, made the difference between his bid and the bid for the re-auction, while the advantage of a higher yield will be enjoyed by the executor or other person entitled.
2. the costs of the auction to the extent that these costs are not paid by the buyer on the re-auction; – 4 –
3. an interest rate of one percent (1%) per month on the total amount of counting the day he was in default until the date of payment; or b. to demand fulfillment of the agreement writ with compensation for all damages and costs and an interest rate of one percent (1%) per month to charge the whole amount from the day that he was in default until the date of payment.
Source: Citizens & Fung-A-Loi Notaries
