General Information: All persons participating in this sale (“Bidder(s)” or “User(s)”) are responsible to read, understand, and comply with the Conditions of Sale (the “Conditions of Sale”) as specified herein and agree to be bound thereby. Use of the Maltz Auctions, Inc. d/b/a Maltz Auctions (“Maltz”) auction site marks your full acceptance of all Conditions of Sale &/or Terms & Conditions of Sale of Maltz as referenced herein and the specific terms for each individual auction as identified in the Terms & Conditions of Sale and/or Bid Procedures (the “Specific Auction Terms”).
Auctions may be timed-online, timed-online and then live, or live-only. All bidding will take place during the days and times indicated on the auction-specific page on MaltzAuctions.com. All assets are being offered for sale on behalf of various sellers (“Seller(s)”) and Maltz is solely acting as the agent of each Seller.
The placement of a Successful bid at a Maltz auction establishes a legally binding contract between the successful high bidder (the “Successful Bidder”) and the Seller. At the close of bidding, the high bid amount by the indicated bidder establishes the contract which may be subject to final acceptance by the Seller. This contract is bound by these Conditions of Sale as well as any Specific Auction Terms published by Maltz for the specific auction. The Successful Bidder is legally bound to pay for assets awarded in accordance with his/her bid.
Registration: First-time Bidders must create an account and validate with credit card information (only required once). Visit https://remotebidding.maltzauctions.com/ and click on "Register to Bid" next to the desired auction. Credit cards are required during registration to verify your identity only. The credit card will be charged $1.00 for this process. This is an authorization only and the amount is released after verification. Bidders will need to accept the Terms & Conditions in order to establish an account.
Deposit: Each Bidder must review the specific auction requirements posted on the website to determine if a bid deposit is required to qualify to bid. If a bid deposit is required, you must submit the deposit along with the Online Bidding Authorization Form (available on the website) by the deadline published on the site and/or form. Please see the specific auction for the deposit details (i.e., forms of payment accepted, due dates, bid deposit form, etc.). Once the deposit is received, the Bidder will be sent an email notification confirming they are approved to bid. If Bidder has downloaded the Maltz Auctions Bidding Application, Bidder will also receive an approval text alert on Bidder’s mobile device. Unsuccessful deposit checks and wire transfers will be returned within 2 business days. In the case of Bidder default/non-payment, the bid deposit may be forfeited, and the Bidder agrees to not dispute such charge/forfeiture.
Additional Deposit: Pursuant to the Specific Auction Terms, the Successful Bidder may be required to provide Maltz, Seller or Seller’s attorney with an additional deposit immediately following the auction. Failure to post said deposit shall be deemed an immediate default under the Specific Auction Terms and forfeiture of all earnest monies paid, including the buyer’s premium, if applicable.
Buyer’s Premium: A buyer’s premium is a percentage added to the high bid to formulate the total purchase price. Example: The high bid is $200,000 with an eight (8%) percent buyer’s premium. The total purchase price is $216,000. Most auctions are subject to a buyer’s premium and the amount of said buyer’s premium will vary between assets. By placing an online bid, Bidders acknowledge having read and understood the amount of the buyer’s premium as defined in the Specific Auction Terms. Transfer tax and/or sales tax is/are calculated on the total purchase price.
Condition & Description: General information pertaining to the condition and description of the assets are been posted on the website. Bidders may obtain additional information by attending the live previews and visually inspecting the items. Lot numbers are for administrative purposes only and do not describe the assets. Bidders are responsible to ensure the catalog or announced/online description of any item they intend to purchase matches the property/merchandise inspected. Sale of property/merchandise will not be canceled due to Bidder misunderstanding, failure to pay attention to the bidding, or failure to inspect property/merchandise.
The Bidder understands and agrees; (1) that any description or sample of the property/merchandise given or furnished is derived from records and documents that may be unverified as to the accuracy, is solely for identification, and DOES NOT CREATE ANY WARRANTY, expressed or implied, that the property/merchandise actually conforms to such description or sample; (2) all weights, measurements, and descriptions must be considered approximations and do not create any warranty; (3) that the property/merchandise is purchased and accepted by the buyer "AS IS," and "WITH ALL FAULTS." MALTZ MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL, OR IMPLIED AS TO SIZE, MARKETABILITY, AGE, YEAR OF MANUFACTURE, MAKE, MODEL, ODOMETER READING, QUALITY, QUANTITY, CONDITION, USABILITY, SALABILITY, WEIGHT, CONTENT, MATERIALS, MEASUREMENTS, OR OTHER SPECIFICATIONS.
Inspection: Bidders are urged to inspect assets prior to bidding. Failure to inspect shall not constitute cause for cancellation of the sale. Assets are available for inspection only at places and times specified. Absolutely no access to property/merchandise is allowed without prior authorization. When available, Maltz may, at its discretion, provide photographs, “stock photos”, slides/samples, or a video presentation as a courtesy to Bidders. Bidders are warned against bidding on any assets based solely on the sample displayed or on the basis of photographs. No warranty will be made in relation to these samples or photographs.
Placing a Maximum Bid: Please be aware that all bids placed are maximum bids. The website will enter the next bid increment and enter your bid as a maximum bid. The website will bid on your behalf up to your set maximum bid by the preset bid increment. Example: The current bid is $500,000 and the bidder enters a maximum bid of $600,000 with a bid increment of $10,000. The system will bid one increment ($510,000) until the Bidder’s "Maximum Bid" is exceeded. If the maximum bid is exceeded, the Bidder will be notified by email or text (mobile devices) they have been outbid. Bidders may increase the bid but not lower it. In the case of a tie bid, precedence is given to the earliest bid.
Technical Problems and Transmission Issues: Maltz has made every reasonable effort to facilitate online bidding. However, it is possible that technical problems and transmission issues may arise and affect the Maltz website, bidding system and/or computer or server or Bidder’s computer, personal device or software which is beyond the control of Maltz. By bidding online, Bidder acknowledges that Maltz is not responsible for technical problems or transmission issues associated with a bid and that, in the event technical problems interfere with or prevent a bid, it may be necessary to withdraw assets from bidding due to technical errors or uncontrollable circumstances. Further, in the event of the occurrence of a technical problem during any bid in any auction, Maltz in its sole discretion reserves the right to declare an asset sold, postpone or cancel the auction, extend the bidding time for this auction and/or re-list the asset for auction at another date and time. The decision of Maltz on this matter shall be final. Bidder acknowledges that, by bidding in any auction held by Maltz, Bidder accepts the terms and conditions of this Disclaimer.
Condition for Online Bidding: Bidders participating in a Maltz auction, acknowledge, accept and agree that bids that have been submitted by Bidder are final and cannot be revoked or retracted. Maltz is not responsible for errors made by Bidder during the bidding process. Timed-Online Auction lots typically close in one (1) minute increments (intervals) unless a bid is received within one (1) minute of a lots scheduled closing time, in which event Maltz will extend the sale of that lot by an additional interval of one (1) minute from the time of the last recognized bid on that lot. Bidders are hereby cautioned not to delay until the final seconds of the auction to place a bid. Bids not received by Maltz by the lot sale closing time shall not be recognized. In the event of a bidding error or dispute, Maltz reserves the right to determine, in its absolute discretion, the Successful Bidder, to reopen the bid, to cancel the sale or to re-offer and re-sell any lot in dispute. All sales are subject to final acceptance by the Seller and the Seller reserves the right to accept or reject any bid. All referenced time periods are subject to change.
Auction End & Bid Approvals: When the auction closes, the page will display either SOLD or ENDED. SOLD indicates the reserve (if there is a reserve) was met and establishes the high bid. Successful Bidders will be notified via email of their status as the winning bidder and will be bound by the payment terms as found in the Specific Auction Terms for each specific auction. ENDED indicates the final bid did not meet the reserve. In this case, Maltz will provide the high bid to the Seller for consideration. If the Seller accepts the high bid, the Bidder will be notified.
Reserve: Seller reserves the right to accept or reject any and all bids. Assets are offered subject to acceptance of the Seller. The auctioneer or the Seller may withdraw the property/merchandise at any time and reserves the right to approve final transfer of asset to the Successful Bidder, even after the auction closes.
Following the close of the auction, the Seller may still approve the high bid achieved if the reserve price is not met. The high Bidder will be notified via email or phone within two business days following the close of sale if the Seller accepts the high bid not meeting reserve. ALL HIGH BIDS ARE CONTINGENT UPON SELLER APPROVAL.
Final Payment: All items must be paid in full as defined in the Specific Auction Terms. Please see the Specific Auction Terms for the payment submission details (i.e., forms of payment accepted, due dates, etc.). No extensions for final payment will be granted. PAYMENT MUST BE MADE BY SUCCESSFUL REGISTERED BIDDER. MONIES RECEIVED BY PARTIES OTHER THAN THE SUCCESSFUL REGISTERED BIDDER WILL BE DECLINED.
Refunds: Maltz shall not make refunds, adjustments, or accept returns. All purchases are final.
Default: Failure to make required payments or property/merchandise removal within the time specified shall be deemed forfeiture of any right, title, and interest Bidder may have acquired in the property/merchandise. Said property/merchandise shall revert and repossess to the Seller without further notice to the Bidder and will result in any monies paid being forfeited and the transaction shall be null and void as to Bidder.
Addition or Deletion from Sale: Maltz reserves the right to withdraw from sale any of the assets listed, to sell at this auction items not listed, and to group or subdivide lots. Maltz reserves the right to sell all the items listed in bulk, groups or individually as Maltz deems will be in the best interest of the Seller.
Removal of Personal Property: Removal must be completed pursuant to the Specific Auction Terms. All property/merchandise in a lot must be released to the original buyer at one time. MALTZ WILL NOT SHIP ANY ITEMS. IT IS THE SOLE RESPONSIBILITY OF THE BUYER TO REMOVE THE PROPERTY/MERCHANDISE PURCHASED BY THE REMOVAL DATE AND TO ARRANGE FOR ANY SHIPPING. REMOVAL IS AT THE EXPENSE, LIABILITY, AND RISK OF THE BUYER.
The Bidder must present a government issued photo identification at the time of property/merchandise release. Should the registered Bidder wish to send an agent to pick up property/merchandise, the Bidder must prepare and sign an authorization letter identifying the agent to act on his/her behalf, as well as provide the agent with a copy of Bidder’s government issued photo identification.
Removal must be completed on or before the times referenced or Bidder will default the terms of sale and property/merchandise will be resold by Seller. Property/merchandise must be removed from the storage location stated in each lot description.
Memorandum of Sale: Certain auctions requiring the immediate completion of a memorandum of sale. The Bidder understands and acknowledges that the failure to provide an electronic and originally executed Memorandum of Sale could result in the forfeiture of the Bid Deposit, in the Seller’s sole discretion. Furthermore, Bidder agrees and acknowledges that the failure to provide an electronic and originally executed Memorandum of Sale could result in the sale of the asset to another Bidder in the Seller’s sole discretion.
Sales Tax: Sales tax will be collected as required by law.
Waiver of Rights: Bidder waives any potential conflict of interest and hereby relieve the Seller, Attorneys for the Seller, Maltz and their professionals of all liability, shall hold harmless and shall indemnify all parties against any action, arbitration, award, claim, cost, damage, deficiency, demand, expense, injury, judgment, liability, loss, or suit of every kind, including attorneys’ fees and costs of defense, asserted by anyone as a result of, or in relation to, the Auction, this document, the transaction contemplated, or any related dealings.
Disputes & Rebids: The Maltz Sale Manager's decision is final in settling disputes. A Bidder's retraction does not revive any previous bid.
Announcements / Additional Information: Announcements/email communications made during the sale process shall take precedence over previous information pertinent to that property/merchandise. Announcements do not alter in any way the terms and conditions of sale.
Additional Terms & Conditions: The preceding contains only selected terms and conditions of sale. Complete terms and conditions as they apply to each specific auction/asset may be reviewed on www.MaltzAuctions.com.
Any service(s) or content made available or obtained through the use of Maltz’s auction site or Maltz’s bidding application is administered and processed by Auction Mobility, LLC. All use of Maltz’s auction site or Maltz’s bidding application is done at the User’s own discretion and risk. User will be solely responsible for any damage to User’s electronic device(s) or loss/theft of data that results therefrom.