Auction Terms & Conditions

The following Auction Terms & Conditions are Legendary Marketing Group, LLC (“Legendary”) and the Seller’s entire agreement with the Bidder/Buyer relative to the property included in this sale. The Auction Terms & Conditions and all other publicized elements of the Auction are subject to amendment by the posting of notices on-line or through advertisements and e-mails.  By participating in any sale, you acknowledge that you are bound by these terms and conditions.

  • Bidding. All bidding is open to the public without regard to race, color, sex, religion, familial status, handicap or national origin. Auction sales are not subject to financing and no financing contingency shall be provided. Seller reserves the right to reject any bid. The Highest Bidder during the Auction will be the Buyer provided the Seller’s reserve has been met. In the event of any dispute between bidders, or in the event of doubt on Seller’s part as to the validity of any bid, the Seller will have the final discretion to determine the successful Buyer, cancel the sale, or to reoffer and resell the property in dispute. If any dispute arises after the sale, the Auction records shall be conclusive.  Legendary and the Seller are not responsible for any errors or omissions in connection therewith. Prospective Bidders should also consult www.LegendaryHomeAuction.com for the most up to date information regarding the properties offered in this sale.  Each Seller is represented by a licensed Colorado real estate broker.
  • Reserve.  Each property has a reserve price which is the price above which the Seller must convey the property to the High Bidder in the Auction (the “Reserve”).  Seller and Seller’s broker shall establish the Reserve for each Property.   Unless authorized by Seller, the Reserve will not be revealed during the Auction.
  • Bidder’s E-Card. Every bidder must provide Legendary with their detailed contact information and agree to these Terms and Conditions of Sale prior to submitting a bid. See www.LegendaryHomeAuction.com for more information. Within two (2) business days following the bidder’s original bid or, if earlier, twenty-four (24) hours before the close of the Auction, the bidder must submit to Legendary, by email or fax, a prequalification letter from bidder’s lender or financial representative.  By agreeing to these Terms and Conditions, a bidder authorizes Legendary to discuss with bidder’s lender and/or financial representative, information about bidder and bidder’s financial qualifications. Legendary reserves the right to reject a bid at any time if the required prequalification letter is not timely received, or if Legendary is unable to substantiate or become satisfied (in its sole discretion) with respect to the bidder’s prequalification letter, lender or financial representative.
  • Earnest Money. Within two (2) business days following the Auction or Seller’s acceptance of your bid, the Highest Bidder above the Reserve or accepted by Seller on each property shall be required to pay an earnest money deposit for the property equal to five percent (5.00%) of the total contract price. The deposit shall be a wire transfer or other good funds in an amount equal to five percent (5.00%) of the total contract price (the “earnest money”). The earnest money deposit will be held in an account by Land Title Guarantee Company (“Land Title”) and then applied to the total contract price at the time of closing.  Additional information about depositing your earnest money can be found at www.LegendaryHomeAuction.com.
  • Other Terms. As used in these Auction Terms & Conditions, the term “High Bid” means the highest bid submitted during the Auction, and the term “Total Contract Price” means the High Bid exclusive of any applicable closing costs in accordance with the Contract.
    • The Highest Bidder shall be the Buyer if the Seller’s Reserve has been met. The Seller may, in the event of any dispute between bidders, determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the Auction, the Auction record of the High Bid, and the Total Contract Price shall be conclusive (see paragraph 1).
    • Seller reserves the right to withdraw the property before or during the Auction in his/her sole discretion and shall have no liability whatsoever for such withdrawal. If Seller perceives attempted collusion, Seller will cancel the Auction. Collusion between bidders or Sellers and bidders is prohibited. All decisions of the Seller are final as to methods of bidding, bidding increments, cancellation or any other matters that may arise before, during or after the Auction. Seller reserves the right to deny any person bidder status to the Auction or expel anyone who Seller believes may disrupt or interfere with the Auction in any way.
    • SELLER MAY ACCEPT ANY BID DURING THE COURSE OF THE AUCTION THAT IS DEEMED ACCEPTABLE BY SELLER.  AUCTION DATES ARE THE MAXIMUM LENGTH OF THE AUCTION.
  • Closing. The Successful Bidder, whether through Seller acceptance during the Auction or by being the High Bidder above the Reserve at the close of the Auction, must sign all documents and the Seller’s Colorado Real Estate Commission approved Contract for Sale and Purchase (with the addition of the Total Contract Price and the Buyer) within one business day of notification of the status of Successful Bidder.  Further, the Successful Bidder (or his/her broker if applicable) will be required to make an appointment with the Seller’s broker within three business days of notification of the status of Successful Bidder (such appointment can occur by Phone) to schedule the Closing for the Property.   Closing must occur within forty-five (45) calendar days of notification of status of Successful Bidder as determined by Seller or as described in Paragraph 8 below.
  • Default. If closing is delayed by action, lack of action or failure to comply with these Terms & Conditions by the Successful Bidder, default will be declared and the earnest money will be retained by the Seller as liquidated damages in accordance with the agreement between them.
  • IF THE PROPERTY IS BEING SOLD SUBJECT TO BANK CONFIRMATION (SEE AUCTION INFORMATION ON EACH SPECIFIC PROPERTY). Once notified that he/she is the Successful Bidder, Successful Bidder shall post the required earnest money deposit, shall be declared the High Bidder and Buyer, the Auction Contract for Sale and Purchase shall be modified and executed to meet these Auction Terms & Conditions (the “Contract”), and the Contract shall be presented to the lien holders. The lien holders shall have five (5) business days following Buyer’s execution of the Contract to agree to accept the Contract in full satisfaction of any debt owed by the Seller. If the Contract is not fully approved as being accepted in full satisfaction of all debt owed by Seller within five (5) business days by all lien holders, unless the Seller waives this condition in writing or the parties executed an amendment, then the Buyer’s deposit shall be refunded, and the Contract shall terminate with no party having any further obligations.
  • Proration. Items such as real estate taxes, association fees (if any), water and sewer charges will be prorated as set out in the Contract.  See each specific property at www.LegendaryHomeAuction.com to see prorated items.
  • Closing Costs. The Buyer shall pay all closing costs for residential sales in the county and state where the property is located, with the exception of Buyer’s title search and title insurance (not lender’s), which shall be paid by the Seller (except that Buyer shall pay any costs associated with the deletion of the standard exceptions in Buyer’s title insurance policy if Buyer wants these exceptions deleted).
  • Auction Procedures. Updated information on the web site, www.LegendaryHomeAuction.com, posted during the Auction and advertising materials and e-mails shall take precedence over any and all previously disseminated material. Method, order of sale, Reserve and bidding increments shall be at the sole discretion of the Seller. The Auction does not begin until Seller accepts the first bid on the day of the Auction.  All sales shall involve a Colorado licensed real estate broker.
  • Disclaimer/Property Inspection. It is the Bidder’s sole responsibility to perform any inspections Bidder deems pertinent to the purchase of the property(s) and to be satisfied as to the property’s condition prior to bidding. The properties, both real and personal (if applicable), are being sold in their existing “AS IS WHERE IS” condition, with no expressed or implied guarantees or warranties whatsoever, unless required by law. Personal on-site inspection of the properties is recommended and bidders are advised to independently verify all information they deem important. Legendary, its employees, agents and affiliates, and the Sellers and their brokers assume no liability for errors or omissions in these or any other property listings or advertising, promotional or publicity statements and materials. Although information has been obtained from outside resources, neither Legendary, its employees, agents and affiliates, nor Seller or Seller’s broker make any guarantee as to the accuracy of any such information.  All information contained in the Bidder/Information Package, web site, or any other promotional materials, including but not limited to square footage, acreage, dimensions, maps, taxes, etc. was provided by the Seller and is believed to be accurate and complete. However, neither the Seller, Seller’s Broker, Legendary, its employees, agents and affiliates make any guarantee or warranty as to the accuracy or completeness of such information.

Bidder and Bidder’s Broker shall bear the sole responsibility to confirm all information relevant to the properties prior to bidding. Neither the Seller, Seller’s Broker, Legendary, its employees, agents and affiliates shall be liable for any relief, or adjustments if the amount of acreage, square footage, zoning, environmental condition or any other information fails to conform to any specific standard, expectation, or any published information. Bidder is advised to seek outside legal and/or tax counsel related to any bids or purchases Bidder makes through the Auction process.

  • Broker Commission. A commission/referral will be paid on the High Bid above the Reserve or any Seller accepted offer to any properly registered and licensed real estate Broker whose client is the successful purchaser of a property. This client must close on the property and must pay the total contract price for the property.

In order to be entitled to any commission/referral, the Broker must:

  • Register his or her client by completing and executing the Cooperating Broker Agreement in full.
  • Submit the executed Cooperating Broker Agreement form via efax (303-265-9337) or scan and

e-mail to Legendary ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ).

  • Abide by the guidelines outlined therein.
  • No Financing Contingency. THIS IS A CASH TRANSACTION WITH NO CONTINGENCY FOR FINANCING. Buyer may finance a portion or all of the total Contract price, but Buyer’s obligation to proceed with the purchase is not contingent upon the Buyer obtaining financing. If the Buyer is unsuccessful in obtaining financing and is unable to close within the required time period, the deposit(s) provided by the Buyer shall be deemed liquidated damages and retained by Seller.
  • Governing Laws. The respective rights and obligations of the parties with respect to the conditions of sale and the conduct of the Auction shall be governed and interpreted by the laws of the state of Colorado. By bidding at an Auction, by written bid online, or other means, the Bidder shall be deemed to have agreed to the Auction Terms & Conditions and have consented to the exclusive jurisdiction of the courts sitting in Culorado.
  • Cancellation. SELLER RESERVES THE RIGHT TO CANCEL, POSTPONE OR WITHDRAW THE PROPERTY BEFORE OR DURING THE AUCTION. THE SELLER RESERVES THE RIGHT TO OFFER THIS PROPERTY IN ANY MANNER AND RESERVES THE RIGHT TO SELL THE PROPERTY IN ANY MANNER HE/SHE SO DESIRES. THE AUCTION DOES NOT START UNTIL THE FIRST BID IS RECEIVED. ALL ANNOUNCEMENTS MADE FROM THE AUCTION SITE OR VIA EMAIL WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL.  BIDDER CANNOT RELY ON ANY ORAL STATEMENTS MADE.
  • Indemnity. Bidder agrees to indemnify and hold harmless Legendary, Seller and their agents and employees, including Seller’s broker, from any damage, claim of liability from injuries to persons or property caused by the acts of bidder and/or it agents in connection with this Auction or the use of the property by the successful bidder. Neither Legendary, Seller or Seller’s agents will be responsible for any damage arising out of the successful bidder’s purchase and use of the property, including direct, indirect, consequential, or incidental damage.  Buyer is responsible for payment for all inspections, tests, surveys, engineering reports, or any other work performed at Buyer’s request (Work) and shall pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer shall not permit claims or liens of any kind against the Property for Work performed on the Property at Buyer’s request. Buyer agrees to indemnify, protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such Work, claim, or lien. This indemnity includes Seller’s right to recover all costs and expenses incurred by Seller to defend against any such liability, damage, cost or expense, or to enforce this section, including Seller’s reasonable attorney and legal fees.  This clause is for the benefit of the Seller of any property Buyer inspects as well as Legendary.
  • DISCLAIMER AS TO LEGENDARY: Bidder shall look only to Seller as to all matters regarding this agreement and the property. Legendary shall not be responsible or liable in any way if (a) Seller fails, refuses to, or cannot close under the Contract or (b) the property is affected in any way, is in need of attention or repairs, or is in any way unsatisfactory to Purchaser as Purchaser may determine before or after closing.

For further information or assistance, please call Legendary at +1-303-440-4999.
Properties are subject to Pre-Auction Offers and Sale.

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