Online Home Buying Auctions

Terms & Conditions

Pogue Auctions, LLC

  1. The auction will be conducted by Pogue Auctions, LLC (the “Auction Company”) on behalf of the owners of the property (the “Seller”). The Auction Company reserves the right to periodically change these terms and conditions, which shall be effective immediately upon posting. It is your responsibility to review any and all changes made to these terms and conditions prior to bidding on property.
  2. In order to place an offer on any property available by auction, you must register and create an account at onlineoffers14.com. By creating your account, you agree to accept AND you understand the Terms and Conditions of the auction process and this offering platform. You agree to keep your username and password confidential as you are responsible for ANY and ALL activity involving your account.  When using the website, you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.
  3. You are required to be represented by a real estate agent or attorney licensed to practice in the state where the property to be bid upon is located. You must enter your agent’s contact information in your online account prior to participating in an auction. If do not have an agent the Listing Agent for this property may refer you to a Selling Agent.
  4. You must either provide Proof of Funds if paying in cash OR a FULL Underwritten Loan Approval Letter from a mortgage lender prior to getting access to the offering area. Registration and documents must be received NO LATER than 12:00 pm PST the day of the auction. If you are not registered and/or you have not provided suitable documentation by 12:00 pm on the day of the auction, you will NOT be allowed to offer on a property.
  5. By participating in an auction, you represent, irrefutably warrant and covenant that: A. You shall not misrepresent your ability to close the transaction pursuant to the terms and conditions of the auction. B. You have the capacity to close the transaction and that any bid they make on the property constitutes an irrevocable offer to buy the property for the full amount of the bid plus Buyer’s Premium and applicable taxes. C. You have the legal authority to enter into an agreement to purchase the item.
  1. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc.
  2. The Auction Company does not rent or sell any information provided by you or your agent.
  3. It is strongly encouraged that you or your agent to login to your account prior to the end of the offering time on the property you wish to offer on. It is IMPORTANT to understand the steps and functionality needed to place your offer. Technical or agent support will not be available after 12:00 pm on the final day of the auction.
  4. You are responsible to conduct your own due diligence on the property before bidding. You acknowledge that Auction Company and Auction Company’s agents owe no duty to conduct an independent inspection of the Property or to conduct an independent investigation of the Seller, and owe no duty to independently verify the accuracy or completeness of any statement made by either party. The Auction Company makes no warranty or guaranty in connection with whether or not the Property will be sold or exchanged hereunder. The Auction Company shall not be liable for any loss suffered by a bidder relating to the Property or subject matter hereto including but not limited to a seller refusing to enter into a purchase contract or otherwise not completing a sale of the Property.
  5. Auto Offer Option – You may place your offer up to the “maximum high” that you are willing to offer on the property. The system is designed to raise your offer in increments of $1,000 above the last offer placed only. Example: If the current offer is $100,000 and you set your “maximum high” of $150,000 the system will raise your offer only to $101,000 and you will be shown as the high offeror. If someone places another offer of $102,000, the system will automatically increase your offer again to $103,000 and so on. If someone places a higher offer, say $120,000 the system will automatically increase your offer to $121,000 and so on. However, if someone places an offer of $151,000 or greater this person will be selected as a high offeror and the system will no longer increase your offer since your “maximum offer” would have been exceeded.
  6. Offering Auto Extend – Our system prevents last second offering by automatically extending the offering time. If a bidder places an offer within 5 minutes of the end of the offering time, the system will automatically extend the offering time by 5 minutes in order to allow other offerors the opportunity to respond.
  7. Seller has reserved the right to confirmation on auction day. Seller shall have the right to accept or reject any and all bids. The winning offer will be finalized only after it has been memorialized by and incorporated into a binding sales contract executed by Seller.
  8. There will be a 6.38% Buyer’s Premium added to the winning offer to arrive at the final purchase price.
  9. The winning bidder will be notified via email when their offer is accepted by the Seller. If you are the winning bidder, you or your agent must email to Seller’s real estate agent a purchase contract within 24 hours after receiving the Seller’s acceptance email. The purchase contract shall be the most recent version of the applicable Northwest Multiple Listing Service/Oregon Real Estate Forms purchase and sale agreement form. The purchase contract must meet the following criteria: A. The Purchase Price shall be equal to the amount of the winning offer plus the Buyer’s Premium, where the Buyer’s Premium is equal to 6% of the total Purchase Price (or 6.38% of the winning offer.) B. The Offer Expiration Date, if any, shall be no sooner than two (2) days after delivery of the purchase contract to Seller’s real estate agent. C. The Closing date shall be no later than 30 days after delivery of the Purchase Contract to Seller’s real estate agent unless otherwise directed by Seller. D. The contract shall require an Earnest Money deposit of not less than $1,000.00. E. The purchase contract must be fully executed by the Winning Offeror and his or her real estate agent, if any.
  10. Seller will not accept any offer for the Property from any party other than the winning bidder during the 48 hours immediately following the conclusion of the auction. Seller may accept, reject, or counteroffer the winning bidder’s purchase contract at Seller’s sole discretion. Neither Seller nor Auction company shall be liable for any damages arising from Seller’s failure or refusal to enter into a purchase contract for the Property with the winning bidder.
  11. In the event that the Winning Bidder fails to timely deliver the purchase contract to Seller’s real estate agent as set forth above, the winning Offer shall pay to the Seller a Penalty Fee in the amount of $500.00. The winning offeror will be invoiced for the $500.00 Penalty Fee, which shall be payable directly to Seller and shall be due thirty days after the date of the invoice. The Penalty Fee shall thereafter accrue interest at the rate of 12% per annum if not paid when due.
  12. The Auction Company shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses resulting from: (i) the use or the inability to use the auction service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the auction service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the auction service; or (v) any other matter relating to the auction service.
  13. The results of the auction may be rendered void if malfunction, shutdown, or temporary loss of service occurs. In such an event, the Auction Company reserves the right to remedy the situation in whichever way best represents the seller, including the cancellation of existing bids. The Auction Company shall not be held liable in any way for any malfunctions, shutdowns, or loss of service. You acknowledge and understand that this service may or may not function correctly at the close of the auction. Under no circumstances shall you have any kind of claim against Auction Company or anyone else if the internet service fails to work correctly during the close of the auction. The Auction Company will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the Auto Offer Option described above.