INSPECTION AND PRE-REGISTRATION: Inspection for warehouse auctions, Tuesday, from 10:00 AM to 4:00 PM.  On-site auction inspection is usually the day before the auction from 11:00 AM to 1:00 PM or sometimes the day of the auction only, check the specific auction you are interested in for preview and inspection times.   All buyers are encouraged to inspect all items prior to bidding.  Cunningham & Associates, Inc and AuctionAZ.com, LLC (real estate brokerage) provides information it gathers from sources deemed reliable, but does not guarantee accuracy of this information.  Bidders are encouraged to verify all information and all due diligence is the responsibility of the bidder.  By registering with our real estate a personal property auctions bidders are confirming that they have done all due diligence PRIOR to bidding.  Please DO NOT bid if you have not conducted and completed your own due diligence.

REAL ESTATE DUE DILIGENCE AND TITLE:  When bidding on real estate Bidders have agreed that they have conducted all due diligence PRIOR to bidding.  This includes, but is no limited to, title searches, land investigations, on-site inspections.  Upon winning the bid at one of our real estate auctions you will be given either a Quit Claim Deed giving you title to the interest in real estate that we sold, or you will get a Bankruptcy Trustee's Deed issued by the Federal Court.  This Deed will give you ownership of the Bankruptcy Estate's interest in the property sold.  Sometimes this is a 100% free and clear interest, sometimes it is subject to unpaid property taxes, sometimes it is a partial interest in the property, etc.  Or, you will get a General Warrantee Deed.  This Deed will give you ownership of the property according to the information provided by a private party seller.  As the successful bidder you certainly have the right to get title insurance, but that is at your expense and after you have paid in full for the property.  The only reason we would refund any payment made is if we cannot deliver title to what we described in the auction.

REGISTRATION: All purchasers are required to register and give the necessary information requested. The bidder shall give his/her name, physical address and mailing address and his/her driver’s license or credit card number.  A $25, $200 or $1,000 (depending on what you are bidding on) cash deposit will be required of all non-permanent  bidders, or a hold for that amount will be placed on Bidder's credit card.  Bidders will be required to post a $1,000 bidder deposit in order to bid on most real estate properties.  Check the specific auction you are interested in for any special deposit requirements.  The bidder deposit will be refunded to you upon full payment for your purchases or may be applied to the payment of your purchases.  If you are not the winning bidder on any items your bidder deposit will be refunded to you upon your request.  You  are responsible for all purchases made with your number, whether by you or by anyone you might allow to use your number.

TERMS: All purchases require PAYMENT-IN-FULL prior to removal see "PAYMENT DEADLINES" below for more details. CASH, CASHIER’S CHECK, WIRE TRANSFERS ($10,000 or more), CERTIFIED FUNDS and CREDIT CARDS (3% buyers premium) accepted. Wire transfers of $10,000 or more will be accepted, wire transfers of less than $10,000 will be accepted with a $20 transaction fee.  There is a 3% buyers premium with a 3% discount for cash or cash equivalent.  Buyers must furnish a copy of Arizona resale license prior to bidder registration if buying for resale.  Fax a copy of the resale license to 602-595-6813.

BUYERS PREMIUM:  There is a 3% buyers premium.  There is a 3% discount for cash payment or cash equivalent.  So there is still no buyers premium for cash buyers.

SALES TAX: Unless a tax resale license is provided prior to date of sale, the purchaser will be required to pay the combined Arizona State and local sales tax totaling 9.3%.  This percentage may be different when we are conducting in other municipalities.  Out of state bidders will not be charged sales tax if the items are shipped to the bidder, proof of out of state residency must be provided.  No sales tax charged on real estate purchases.

DEFAULT: In default the second highest bidder will be given the option to become the successful bidder at his/her last bid. The bidder in default will be responsible for the difference in the bids, or the entire amount of his/her bid should the second highest bidder not take the option to become the successful bidder.  The default bidder will also forfeit his deposit.  A service charge of 1½% per month, 18% APR, will be added to all overdue accounts. The bidder in default is also liable for all legal and collection fees.

PAYMENT DEADLINES:

A.  WAREHOUSE AUCTIONS (the first and third Wednesday's of each month):  Non-paid accounts are in default at 2PM Arizona time the Friday following the auction and all items are forfeited and will be re-sold in the next auction.  In order to bid in future auctions the bidder in default must pay the difference in the sale price of the items or $100 whichever is greater.

B.  ON-SITE AUCTIONS:  Non-paid accounts are in default at 12 Noon the first business day following the auction and all items are forfeited.  Bidder in default is responsible for the cost of transport admin and remarketing of the assets and must pay these costs in order to be eligible to bid in future auctions.

CONDITION OF ITEMS SOLD: The auctioneer shall not be responsible for the correct description, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No allowance will be made or sale set aside on account of any incorrectness, error in cataloguing, or any imperfection not noted.  No deduction will be allowed on damaged articles as all goods being exposed for public exhibition are sold as is and without recourse.

SALES LIST: The sales list is furnished by the auctioneer as a guide only. No guarantee as to the accuracy or description is made. Deletions and additions may take place.

SHIPPING: Bidders are responsible for the shipping of all items purchased.

REMOVAL: All items require PAYMENT-IN-FULL and an authorized receipt prior to removal. All items must be removed from the premises by 4:00 PM the second business day  following the auction.  Removal shall be at the expense, liability and risk of the purchaser.  Failure to remove items by the fifth business day following the auction constitutes forfeiture of the items and the bidder’s deposit (all monies paid by Bidder) and the assets will become the property of Cunningham & Associates, Inc. and will be sold  at the next scheduled auction.

STORAGE FEES: A $15.00 storage fee per lot will be charged per day if the items are not picked up by the second business day  following the auction. Storage fees must be paid prior to removal of the items.  When we have title documents for vehicles and other assets, those documents will be given to Bidders at the time of removal, not at the time of payment.

PERSONAL AND PROPERTY RISK: Persons attending the auction or preview, during exhibition, sale or removal goods assume all risks of damage of or loss to person or property and specifically release the auctioneer from liability therefore.  Neither the auctioneer nor his principal(s) shall be liable by reason of any defect in, or condition of the premises on which the sale is held.

PERMANENT BIDDER NUMBERS: Cunningham and Associates Auctioneers, Inc. issues permanent bidder numbers to those preferred customers, at their request, who have bid at our auctions without default for over five years.  There is no deposit required for these bidder numbers. Permanent bidder numbers may only be used by the person to whom they are registered.

DISPUTE BETWEEN BIDDERS: If any dispute between bidders occurs the auctioneer may decide to put the lot up for sale again.  The auctioneer’s decision is final and absolute.

SALE BY ESTIMATED WEIGHT, COUNT, OR MEASURE: When items are sold in this manner the purchaser will be billed accordingly.  If upon delivery a shortage exists, the purchaser will receive a refund at the rate of purchase.  However, if there is an excess the purchaser will be billed in the same manner and required to take the excess.

AUCTION TERMINOLOGY (live auction only) It is the responsibility of the bidder to understand the manner in which items are being sold.  When the auctioneer says "one times the money" or "all for one money" it means that the item(s) are being sold as a lot.  If the auctioneer says "times the bid" or "times the money" it means that the bidder will pay the bid amount times the number of items in the lot.  THE BIDDER MUST UNDERSTAND WHAT HE IS BIDDING ON AND HOW IT IS BEING SOLD.  NO REFUNDS.

ADDITION TO OR WITHDRAWAL FROM SALE (live auction only) The auctioneer reserves the right to withdraw from the sale any property listed and also to add property not listed to the sale. Also, the auctioneer may group lots or subdivide lots in order to benefit the seller.  The auctioneer reserves the right to sell the property listed in bulk.

RECORD: The record of sale that is kept by the auctioneer or his clerk will be taken as final word in the event of a dispute.

AGENCY: The auctioneer is only an agent and is not responsible for the actions of his consignor(s).

ANNOUNCEMENTS (live auction only) Any announcements on the day of the auctions shall take precedence over any previously distributed information or advertising. Listen to opening announcements, as they are important.  The auctioneer may announce additional information or terms during the course of the auction.

AUCTIONEER’S LIABILITY: If for any reason whatsoever the auctioneer fails to deliver an awarded lot, the auctioneer's sole liability shall be the return of any deposit or moneys paid on such non-delivered lot.

TITLE: When the item is announced "SOLD" by the auctioneer it immediately becomes the buyer’s responsibility.  Title to the item transfers to the buyer at that time.  The seller(s), however, maintain a first security interest in all items until payment is received, including the collection of all funds.  Cunningham and Associates, Inc. and its personnel assume no responsibility for any missing or damaged items and are not acting as the buyer’s security agent. CUNNINGHAM & ASSOCIATES, INC. WILL NOT REFUND ANY BUYER FOR MISSING, STOLEN OR BROKEN ITEMS.

BUYBACKS: Cunningham & Associates, Inc. does not permit consignors to repurchase or bid on their consigned items.  If you suspect that this is occurring, please bring it to the attention of the auctioneer.

REWARD: A $500 reward will be paid to anyone who leads to the arrest and prosecution of any person caught stealing, renumbering, or shuffling items from lot to lot; before, during or after the auction.  A reward of $500 will also be paid for information leading to the prosecution of anyone tampering with vehicles.