Auction Rules

General Online Rules

Please read the following carefully!

Terms and Conditions:

 At the close of bidding, you will receive an email with details on pick-up.  If you wish to have your item shipped fees will be applied to your payment, a $40 charge will be added to any shipping fee for handling charges.  

All auctions are pick-up auctions, however, shipping is available.  If for some reason you cannot pick up the items during our pick-up hours, please call to make other arrangements, otherwise, a storage fee will apply (see below for storage fees), WE CAN ONLY HOLD AN ITEM FOR 24 HOURS! In most cases, the property owners will take back their home or relinquish the property to a new owner.  We will no longer have access to those items after that time.  If Pengo Estate Sales is asked to ship any item or items purchaser must pay for the shipping and handling as well as any insurance.

By registering you are acknowledging that your credit card will be charged the winning bid price on the item you have bid and won. The sale price includes Buyer’s Premium of 8% and will be added to the final bid accepted by the Auction site. There will be a 2% credit card fee added to all sales. If a credit card must be entered manually it will be assessed a 5% fee. 

WARRANTY: 

EVERYTHING IN THE AUCTION IS BEING SOLD “AS IS, WHERE IS” WITHOUT WARRANTY WITHOUT GUARANTEE OF ANY KIND, AS TO THE AGE, YEAR OF MANUFACTURER, MAKE, MODEL, AND CONDITION ETC. It is the buyer’s responsibility to determine age, value, quality, and quantity.

This AUCTION company has NO LIABILITY policy.

Once an object has been legally transferred over to the winning bidder, Pengo Estate Sales ceases holding any liability over the object. Any damages incurred due to its use or misuse is not Pengo Estate Sales responsibility

Pengo Estate Sales requires that winning bidders pay all or part of the winning bid immediately after the auction. Failure to do so may result in financial penalties or the forfeiture of the item.

SUCCESSFUL BIDDERS:

The highest Bidder “Acknowledged” by the auction site is the buyer. The auction site shall be the sole determinant of all winning bidders and shall hold the official record of all sale prices. The auction site declaration of the winning bidder will be recorded and that record of the sale price shall take precedence over any incorrect notification regarding the winning Bidder’s and/or the final hammer price for any lot sold.

ACCEPTANCE OF TERMS:

Bidding on any item indicates the bidder’s acceptance of the above and below terms and conditions.

DISCLAIMERS AND ABSENCE OF WARRANTIES:

The information in the auction advertising was obtained from sources believed to be accurate but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors, or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries, and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis, and no warranty or representations, expressed or implied, are made by the Seller or the auction company. All announcements made by the auction company during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials is subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The auction company reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The auction company reserves the right to extend auction times or end the auction at any time without notice.  The Property is available for and subject to sale prior to the auction. Again, Bidding on any item indicates the bidder’s acceptance of the above terms and conditions. 

You must be a resident of the state in which you are purchasing firearms unless you carry an FFL license. The exception to this rule is if the firearm in question is antique and inoperable.

BE ON TIME FOR PICKUP WITHIN THE STATED PICKUP TIMES. A MINIMUM LATE PICKUP FEE OF $25.00 WILL BE CHARGED FOR PICKUP AFTER THE STATED TIMES UNLESS ARRANGEMENT HAS BEEN MADE PRIOR TO THE STATED PICKUP TIMES.

STORAGE

  • All items that are not picked up by 6:30 on the final day of stated pick-up dates and will go into storage.
  • Storage fees will be assessed on a $5.00 per item per day basis until the item is picked up.
  • The storage fees must be paid in full prior to the piece being released from the storage space. After 30 days in
    storage from the final sale date, the buyer relinquishes all rights to each item that was stored.
  • Relinquished items will be liquidated. All labor costs that incur from moving an item to a storage facility must
    also, be paid in full before an item can be retrieved.

 

General Live Auction Rules

  • Pengo Estate Sales, LLC is NOT responsible for accidents or injuries.
  • Please bring your own help to load larger purchases. We will be happy to assist when we are able to, however we hold no liability to the item being loaded.
  • We do not accept personal checks.
  • Pengo Estate Sales does not accept returns or issue refunds for any reason.
  • All items are sold “As Is, Where Is”.
  • We have only one entrance and one exit at our auctions for security purposes.
  • Animals are not allowed inside the auction premises — with the exception of service animals.
  • No smoking is allowed at any time, which includes e-cigarettes.
  • Once you buy an item, you are completely responsible for that item.

Bidder Registration

  • All bidders must register and receive a bidder number for use at the auction.
  • Bidders must use their bidder number on the bid sheet for their bid to be valid.

Successful Bidders

The highest Bidder “acknowledged” by the auctioneer is the buyer. The auctioneer shall be the sole determinant of all winning
bidders and shall hold the official record of all the sale prices. The auctioneer’s declaration of the winning bidder will
be recorded in-house, and that record of the sale price shall take precedence over any and all electronic records or online
readout or any other incorrect notification regarding the winning bidder and/or the final hammer price for any lot sold.

Terms

ALL PURCHASES ARE TO BE PAID IN FULL THE DAY OF THE AUCTION. Payment is expected within 30 minutes after the last item is sold. We accept CASH, DEBIT CARDS, and CREDIT CARDS. The final sale price will include a 8% buyer’s premium which will be added to the final bid accepted by the auctioneer.  Credit cards that have to be entered manually will be assessed a 5% fee. We require that winning bidders pay all or part of the winning bid immediately after the auction. Failure to do so may result in financial penalties or forfeiture of the item. We do not accept personal checks.
Buyers are liable for any expenses associated with trying to collect payment including the cost of attorney fees.

 DISCLAIMERS AND ABSENCE OF WARRANTIES

As stated earlier, everything in the auction is being sold “As Is, Where Is” WITHOUT WARRANTY OR WITHOUT A GUARANTEE OF ANY
KIND as to age, year, manufacturer, make, model, or condition.

THE AUCTION HOUSE HOLDS NO LIABILITY

Once an object has been legally transferred over to the winning Bidder, Pengo Estate Sales ceases to hold any liability over the
object. Any damages incurred due to its use or misuse is not the responsibility of Pengo Estate Sales. The information in the auction
advertising was obtained from sources believed to be accurate but is subject to verification by all parties relying on it.
All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller
or Pengo Estate Sales. All Bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence
concerning the property. The property is being offered on an “AS IS, WHERE IS” basis and no warranty or representations,
expressed or implied, are made by the Seller or Pengo Estate Sales. All announcements made by the Auctioneer during the auction take
precedence over any previously printed material or any other oral statements made. All information contained in the advertising
and all related materials is subject to the terms and conditions outlined in the purchase agreement. Advertising may contain
pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on
behalf of the Seller up to, but not beyond the Seller’s reserve, if applicable. The property is available for and subject
to sale prior to the auction. Again, bidding on ANY ITEM indicates the Bidder’s acceptance of the above terms and conditions.

ACCEPTANCE OF TERMS:

Bidding on any item indicates the Bidder’s acceptance of the above terms and conditions. Pengo Estate Sales accepts phone bids and
absentee bids. Feel free to contact us with your information for absentee bids.

DISCLAIMERS AND ABSENCE OF WARRANTIES:

The information in the auction advertising was obtained from sources believed to be accurate but is subject to verification
by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions
is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations,
inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no
warranty or representations, expressed or implied, are made by the Seller or the auction company. All announcements made by
the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made.
All information contained in the advertising and all related materials is subject to the terms and conditions outlined in
the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only.
The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable).
The property is available for and subject to sale prior to the auction. Again, bidding on any item indicates the Bidder’s acceptance
of the above terms and conditions.

————————

Land Auction Terms and Conditions 

(These Terms and Conditions are subject to change) 

  • DOWN PAYMENT: The successful bidder(s) shall be required to make a 10% non-refundable down payment of the
    total purchase price immediately following the close of bidding. Cash or cashier’s check will be accepted from on-site
    Bidders. Winning Bidders whose documents and deposit are not received within the required time frame are subject to
    paying liquidated damages amount equal to the down payment. Down payment received by wire transfer (or by certified funds), must be received by the close of the business auction day.
    Winning Bidders whose documents and deposit are not received within the required time frame are subject to paying a liquidated
    damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid
    in any future Auctions.
  • FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended
    that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.
  • CONTRACT SIGNING: The successful bidder(s) shall execute a purchase agreement immediately following the
    close of bidding.
  • CLOSING: Buyer(s) shall close within 45 days of the auction date. Possession will be delivered at closing
    subject to any remaining rights of the current tenant(s), if applicable.
  • EVIDENCE OF TITLE: Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the
    amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).
  • REAL ESTATE TAXES & ASSESSMENTS: Yearly taxes are to be prorated as of the closing date.
  • BUYER’S PREMIUM: A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the
    the total purchase price to be paid.

Sample calculation             —              High bid            =          $50,000 Buyer’s Premium                 =
$  5,000  (10% of 50,000) Total purchase price           =           $55,000

DISCLAIMERS AND ABSENCE OF WARRANTIES

The information in the auction advertising was obtained from sources believed to be accurate but is subject to verification
by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions
is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations,
inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no
warranty or representations, expressed or implied, are made by the Seller or the auction company. All announcements made by
the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made.
All information contained in the advertising and all related materials is subject to the terms and conditions outlined in
the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only.
The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable).
The Property is available for and subject to sale prior to the auction.