1. The Online Timed Auction will be accessed on the Internet using the platform of www.liveauctionworld.com

2. All bidders will be required to pre-register prior to participating in the auction and the registration will include confirmation of a valid credit card as well as the collection of Purchaser’s Bank and Banker contact information.

3. The Title(s) shall be free and clear of all financial encumbrances except those implied by law including easements, utility rights-of-way, restrictive covenants and conditions that are normally found registered against property of this nature.

4. A Buyer’s Premium of 10% will be added to the final bid and will constitute a portion of the selling price. The 10% Buyer’s Premium plus GST will be retained by the Brokerage as commission for their services rendered.

5. The 5% GST will be added to the final purchase price.

6. The successful bidder will be required to complete an unconditional Offer to Purchase Contract.

7. The Offer is to be accompanied by a 20% Deposit. Both Offer and Deposit are to be received within 48 hours of the conclusion of the Auction. All Deposits will be held in accordance with the terms of the signed Purchase Contract. The Deposits must be held in trust according to the Real Estate Act of Alberta. The Deposit(s) will be non-refundable.

8. Completion Day will be 30 days following acceptance of Purchase Contract, unless otherwise suggested by the Vendor’s lawyer. Completion and closing of the real estate transaction will be handled by the Vendor’s lawyer. The Purchaser will be required to retain the services of a lawyer to complete the transaction, to ensure the purchase is executed by the closing date (“Completion Day”) The Purchaser and the Vendor shall be responsible for their own legal fees.

9. The sale will close with what is referred to as a “soft close”, this prevents individuals from entering a bid at the very last second before an auction closes with the intent to prevent others from bidding higher. Hansen Auctions has a two-minute soft close policy on each lot. This means that if a bidder enters a bid within two minutes of the lot's initial closing time, a two-minute extension would be added on. The lot will not close until bidding is static for two minutes.

10. The Purchaser shall accept the Property “AS IS”, “WHERE IS”, and “WITH ALL FAULTS” as of the closing date and the Purchaser specifically agrees that neither the Seller nor Hansen Land Brokers Inc. (The Brokerage) or Live Auction World make any representations or warranties of any kind whatsoever, expressed or implied, to the Purchaser as to the value, condition or fitness of the Property, environmental or otherwise, or any part thereof or improvements thereon. All descriptions, measurements and acreage provided by the Vendor and the Brokerage are to be used as a guide only. The Purchaser acknowledges and agrees that it is the Purchaser’s sole responsibility to make such legal, factual and other inquiries, inspections and investigations as Purchaser considers necessary prior to bidding on the Property, and Purchaser will warrant and represent that he shall have satisfied himself as to the location and condition of the Property, and all descriptions with respect thereto, prior to bidding, and that he has had the opportunity to do so.

11. Hansen Land Brokers Inc. may, in the event of any dispute between bidders, determine the successful bidder or re-offer the subject Property for auction. Should there be any dispute after the Auction, The Live Auction World’s record of the High Bid, and the Purchase Price shall be conclusive to resolve the dispute.

12. Hansen Auctions reserves the right to cancel, postpone or withdraw the Property(s) up to the start of the auction. Seller reserves the right to sell the property(s) in any manner it so desires before or up to the start of the auction. The Buyer’s Premium will still apply to any sales effected prior to or after the Auction as per the Exclusive Seller Representation Agreement.

13. The respective rights and obligations of the parties with respect to these Terms and Conditions and the conduct of the Auction shall be governed, enforced and interpreted by the laws of the Province of Alberta, without regard for conflicts of law principles.