Terms of auction.

Acceptance and bidder eligibility

1.1 Binding Agreement. Registration to bid, the placement of any bid, or any participation in a Common Hour auction constitutes your acceptance of these Terms and any auction-specific Special Terms published for that sale. If you do not agree, do not bid.

1.2 Eligibility. You must be at least 18 years of age, legally able to enter into a binding contract, and not on any sanctions list to bid. Common Hour reserves the right to refuse, suspend, or revoke registration in its sole discretion.

1.3 Registration & Verification. Bidders must register and provide accurate identifying information. Common Hour may require government-issued ID, proof of funds, lender pre-approval, or a credit-card pre-authorization as a condition of registration. Providing false information voids your registration and any bids placed.

1.4 Buyer's Agents. If you are represented by a licensed Tennessee real estate agent, your agent must register you separately under Common Hour's Realtor Co-Op Program at least 48 hours before the auction closes for the agent to be eligible for a co-op fee. Failure to register your agent does not affect your obligations as Bidder.

Commissions and fees are not set by law and are fully negotiable.

All sales "as is, where is"

2.1 No Warranties. ALL PROPERTY, REAL AND PERSONAL, IS SOLD "AS IS, WHERE IS, WITH ALL FAULTS," without representation or warranty of any kind, express or implied, including but not limited to warranties of condition, fitness for a particular purpose, merchantability, title (except as expressly conveyed by deed at closing for real estate), authenticity, age, provenance, or value. Bidders bid in reliance solely on their own inspection and due diligence.

2.2 Inspection Opportunity. Common Hour publishes preview times, addresses, and contact information for each auction. Bidders are strongly encouraged to inspect property before bidding. Failure to inspect does not relieve a Bidder of any obligation under these Terms or excuse non-payment.

2.3 Descriptions Not Warranties. Catalog descriptions, photographs, video, square-footage figures, acreage estimates, condition reports, and any other marketing content are provided for convenience only. They are not warranties, are not part of any contract of sale, and may contain errors. Bidders must verify all information independently.

2.4 No Seller Disclosure. For real estate sold at auction, the Seller is not required to provide a Tennessee Residential Property Condition Disclosure or any other state-law condition disclosure. Bidders waive any right to such disclosure as a condition of bidding. Federal disclosures required by law (including the Lead-Based Paint Hazard Reduction Act for housing constructed prior to 1978) will be provided when applicable.

Bidding

3.1 Auction Format. Common Hour conducts live, online, and hybrid auctions. The format, opening bid, bid increments, and registration requirements for each auction are published with the listing. Common Hour may modify these in its reasonable discretion before the auction begins.

3.2 Bid Acceptance. All bids are subject to acceptance by the Auctioneer. The Auctioneer may reject any bid in its sole discretion, including for non-compliance with these Terms, suspected collusion, technical malfunction, or any other reason. The fall of the hammer (or its online equivalent) constitutes acceptance of the highest bid and forms a binding contract of sale.

3.3 Bid Withdrawal. Bids are irrevocable once placed. Bids may not be withdrawn. If you do not intend to buy, do not bid.

3.4 Disputed Bids & Reopened Bidding. If a dispute arises during bidding, the Auctioneer may, in its sole discretion, reopen bidding, declare a winner, or rescind the sale of the disputed lot. The Auctioneer's decision is final.

3.5 Auction Extensions (Online). For online auctions, Common Hour may extend the scheduled close time when bids are placed near the close, to allow other Bidders a reasonable opportunity to respond. The auction is not concluded until the system clock indicates closing.

3.6 Reserve Auctions. If an auction is conducted with a Reserve, the Property will not sell unless bidding equals or exceeds the Reserve. Whether the Reserve is published or confidential is disclosed in the auction-specific Special Terms. In an Absolute Over Reserve auction, once any bid meets the Reserve the Property sells to the highest Bidder at the fall of the hammer.

3.7 No Shill Bidding. Bidding by the Seller, the Seller's agent, the Auctioneer, or any related party on behalf of the Seller is prohibited unless expressly disclosed in the auction-specific Special Terms.

Buyer's premium

4.1 Standard Buyer's Premium. A buyer's premium of twelve percent (12%) of the hammer price (the "Buyer's Premium") shall be added to the hammer price and paid by the Winning Buyer, except as expressly modified in writing by the Auctioneer for a particular auction.

4.2 Common Hour's Compensation. The Buyer's Premium is the Auctioneer's compensation for conducting the sale. It is retained by Common Hour and is not part of the Seller's sale proceeds. Cooperating broker fees, if any, are paid out of the Buyer's Premium.

4.3 Real Estate, Premium Serves as Earnest Money. For real estate sales, the Buyer's Premium also serves as the non-refundable earnest money deposit for the transaction. The Buyer's Premium is non-refundable under any circumstance, including failure of the Winning Buyer to close, failure to obtain financing, or any other Buyer-side reason for non-performance. At closing, the Buyer's Premium is released from escrow to Common Hour as the Auctioneer's compensation; the hammer price is paid by the Winning Buyer to the Seller (less customary closing costs and prorations).

4.4 Personal Property, Premium Paid with Hammer Price. For personal property, the Winning Buyer shall pay the hammer price plus the Buyer's Premium in full within the timeframe set forth in Section 5.

Commissions and fees are not set by law and are fully negotiable.

Payment terms

5.1 Payment Recipient. All payments (Buyer's Premium, earnest money, hammer price, and any handling fees) are payable to Title Escrow of Robertson County (or such other escrow agent as the Auctioneer designates in writing for a particular auction). Common Hour does not accept direct payment of the Buyer's Premium or hammer price; all funds flow through the designated escrow agent.

5.2 Real Estate, Buyer's Premium Within 24 Hours. The Winning Buyer of real estate shall deliver the Buyer's Premium (which serves as the earnest money) to Title Escrow of Robertson County within twenty-four (24) hours of the close of the auction, by wire transfer, certified funds, or other method accepted by the escrow agent. The remaining balance (the hammer price plus any closing costs allocated to Buyer) is due at closing, which shall occur within thirty (30) days of the auction unless otherwise stated in the auction-specific Special Terms.

5.3 Personal Property, Full Payment Within 24 Hours. The Winning Buyer of personal property shall pay the hammer price plus the Buyer's Premium in full within twenty-four (24) hours of the close of the auction, to Title Escrow of Robertson County. Personal property will not be released for pickup until payment has cleared.

5.4 Accepted Forms of Payment. Wire transfer, certified or cashier's check, ACH, or other forms accepted by the escrow agent in writing. Personal checks and cash are not accepted unless expressly approved in advance.

5.5 Sales Tax. Tennessee state and local sales tax will be collected at the rate in effect on the auction date for personal property sales, unless the Buyer provides a valid resale or exemption certificate prior to payment. Real estate is not subject to sales tax.

Commissions and fees are not set by law and are fully negotiable.

Personal property: pickup and handling

6.1 Pickup Window. Personal property must be picked up by the Winning Buyer at the time, date, and location published in the auction-specific Special Terms (the "Pickup Window"). It is the Winning Buyer's sole responsibility to arrange transportation, labor, packing, and any equipment needed for pickup.

6.2 Late Pickup, Handling Fee. If property is not picked up during the published Pickup Window, a handling fee of $100.00 per day will accrue against the Winning Buyer for each calendar day (or part thereof) that the property remains uncollected, up to a maximum of three (3) days.

6.3 Abandonment After Three Days. Property not picked up within three (3) calendar days after the close of the published Pickup Window shall be deemed abandoned by the Winning Buyer. Common Hour may, in its sole discretion, donate, dispose of, resell, or otherwise transfer abandoned property without further notice. The Winning Buyer remains liable for: (a) the full hammer price plus the Buyer's Premium; and (b) the full $300.00 in handling fees ($100.00 per day for three days), regardless of whether the property is donated, disposed of, or otherwise removed.

6.4 No Refund of Payment. Abandonment of property by the Winning Buyer does not entitle the Winning Buyer to any refund of the hammer price, Buyer's Premium, sales tax, or handling fees. Common Hour shall have no obligation to recover or return abandoned property.

6.5 Risk of Loss. Risk of loss for personal property passes to the Winning Buyer at the fall of the hammer. The Winning Buyer is responsible for insuring the property from that moment.

Commissions and fees are not set by law and are fully negotiable.

Real estate closing

7.1 Closing Date. Closing of real estate auctions shall occur within thirty (30) days of the auction's close date, at the offices of Title Escrow of Robertson County (or other escrow agent designated by the Auctioneer), unless extended by mutual written agreement of Buyer and Seller.

7.2 Financing Not a Contingency. Real estate sold at auction is sold without a financing contingency. Failure of the Winning Buyer to obtain financing is not a basis for refund of the Buyer's Premium or release from the obligation to close.

7.3 Title. Seller shall convey marketable title by general warranty deed (or such other deed as expressly stated in the auction-specific Special Terms), subject to recorded easements, restrictions, and encumbrances of record. Title insurance is recommended and is the Buyer's expense.

7.4 Closing Costs & Prorations. Customary closing costs are allocated as follows: Seller pays the deed preparation, transfer tax, and recording of any release of liens; Buyer pays title insurance, recording of the deed, lender fees, and any other Buyer-side costs. Property taxes are prorated through the closing date. The auction-specific Special Terms may modify these allocations.

7.5 Buyer Default at Closing. If the Winning Buyer fails to close, the Buyer's Premium (held in escrow as earnest money) shall be forfeited and released to Common Hour, and the Winning Buyer shall remain liable to the Seller for any additional damages arising from the breach, including the difference between the hammer price and the resale price, plus all costs of resale. The Buyer's Premium is non-refundable under all circumstances.

Commissions and fees are not set by law and are fully negotiable.

Default and remedies

8.1 Buyer Default. A Winning Buyer is in default under these Terms if the Buyer: (a) fails to deliver payment within the times specified in Section 5; (b) fails to close real estate within the time specified in Section 7; (c) fails to pick up personal property within the time specified in Section 6; or (d) breaches any other material provision of these Terms.

8.2 Cumulative Remedies. In the event of default, Common Hour and the Seller may, jointly or separately and without limitation: (a) retain the Buyer's Premium and any other amounts paid; (b) re-list and re-sell the property at the defaulting Buyer's expense, with the defaulting Buyer liable for any deficiency between the original hammer price and the re-sale price; (c) recover all costs of resale, storage, transportation, attorneys' fees, and collection costs; (d) suspend or revoke the Buyer's bidding privileges with Common Hour; and (e) pursue any other remedy available at law or equity. All remedies are cumulative.

8.3 Interest & Collection Costs. Past-due amounts accrue interest at the lesser of 1.5% per month or the maximum rate permitted by Tennessee law, until paid in full. The defaulting Buyer is liable for all reasonable costs of collection, including attorneys' fees.

Commissions and fees are not set by law and are fully negotiable.

Limitation of liability

9.1 No Consequential Damages. IN NO EVENT SHALL COMMON HOUR, ITS PERSONNEL, AGENTS, AFFILIATES, OR THE ESCROW AGENT BE LIABLE TO ANY BIDDER OR BUYER FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS, LOST OPPORTUNITY, OR DIMINUTION IN VALUE, REGARDLESS OF THE CAUSE OF ACTION.

9.2 Liability Cap. Common Hour's total aggregate liability to any Bidder or Buyer arising out of or related to any auction shall not exceed the Buyer's Premium actually retained by Common Hour on the disputed lot.

9.3 Technology & Service Interruption. Common Hour is not responsible for internet outages, software errors, server downtime, transmission failures, browser incompatibilities, or other technical issues that may affect a Bidder's ability to bid. The Auctioneer's records of bids and timing are conclusive.

9.4 Indemnification. Each Bidder agrees to indemnify, defend, and hold harmless Common Hour, the Auctioneer, the Seller, and the escrow agent from and against any claims, damages, costs, and expenses (including reasonable attorneys' fees) arising out of the Bidder's breach of these Terms, the Bidder's bidding activity, or the Bidder's possession or use of any property purchased.

Commissions and fees are not set by law and are fully negotiable.

Privacy and bidder data

10.1 Use of Information. Common Hour collects and uses Bidder information to administer auctions, verify identity, process payment, and comply with applicable law. Common Hour does not sell Bidder information to third parties for marketing purposes. See the Common Hour Privacy Policy at bidsellsold.com for full details.

10.2 Recording. Live and online auction sessions may be recorded for compliance and training purposes. By participating, Bidders consent to such recording.

Governing law and dispute resolution

11.1 Governing Law. These Terms are governed by the laws of the State of Tennessee, without regard to its conflict-of-laws principles.

11.2 Venue. Any dispute arising out of or relating to these Terms or any auction shall be brought exclusively in the state or federal courts located in Robertson County, Tennessee, unless the Parties agree to arbitration under Section 11.3.

11.3 Arbitration; Jury Waiver. At the election of either Party, any dispute may be resolved by binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, with the arbitration seated in Robertson County, Tennessee. EACH PARTY KNOWINGLY WAIVES THE RIGHT TO A JURY TRIAL.

11.4 No Class Actions. Disputes shall be resolved on an individual basis only. Bidders waive any right to participate in a class action, consolidated proceeding, or representative action.

11.5 Attorneys' Fees. In any dispute, the prevailing Party shall be entitled to recover its reasonable attorneys' fees and costs.

Commissions and fees are not set by law and are fully negotiable.

General provisions

12.1 Entire Agreement. These Terms, together with any auction-specific Special Terms and any signed bidder registration, constitute the entire agreement between the Parties on the subject matter and supersede all prior discussions and writings.

12.2 Order of Precedence. If any conflict exists between these Terms, the auction-specific Special Terms, and a signed purchase and sale agreement, the documents control in the following order: (1) the signed purchase and sale agreement; (2) the auction-specific Special Terms; (3) these Terms.

12.3 Modification. Common Hour may modify these Terms at any time by posting an updated version at bidsellsold.com. The version in effect on the date of the auction governs that auction. The Auctioneer may announce additional or modified terms at the start of an auction; such announced terms supplement these Terms.

12.4 Severability. If any provision of these Terms is held invalid or unenforceable, the remainder shall continue in full force and effect, and the invalid provision shall be modified to the minimum extent necessary to make it enforceable.

12.5 No Waiver. Common Hour's failure to enforce any provision of these Terms shall not constitute a waiver of that provision or of any other provision.

12.6 Assignment. Bidders may not assign their rights or obligations under these Terms without Common Hour's prior written consent. Common Hour may assign to an affiliate or successor.

12.7 Notices. Notices to Common Hour shall be sent to balancealaska@gmail.com or to the address published at bidsellsold.com. Notices to Bidders shall be sent to the email and mailing address provided at registration.

12.8 Compliance with Law. These Terms and all auctions are subject to applicable federal, state, and local law, including Tennessee real estate licensing law (TN Code Title 62, Chapter 13), Tennessee auctioneer licensing law (TN Code Title 62, Chapter 19), and federal fair housing law. Nothing in these Terms is intended to waive any right that cannot be waived as a matter of law.