PEAC definition
Examples of PEAC in a sentence
Bidders should be familiar with the basic procedures and terminology of the PEAC Auction process.
PEAC discloses that it represents the Seller only as the auction company as more particularly set forth on the disclosure form or format required by the state in which the Auction is being conducted.
If a Buyer intends to use cash to complete their purchase transaction, the Buyer must provide satisfactory proof to both PEAC and the Seller upon the opening of escrow of their ability to produce sufficient funds to complete the transaction through payment of cash by the close of escrow.
In the unlikely event that the Seller does not honor any bid or fails to convey title in accordance with the Winning Bid or Purchase Contract entered into with respect to the Property, PEAC will not be held responsible or liable in any way.
As more specifically discussed above, prospective Bidders are not considered eligible bidders in the Auction until PEAC receives this Sealed Bid registration form and registration funds.
ACCEPTANCE OF PROPERTY AS-IS; NO RELIANCE ON INFORMATION PROVIDED BY SELLER, BROKER OR PEAC The Buyer of the Property will agree that they are purchasing such Property “AS-IS, WITH ALL FAULTS” and that they are not relying upon any representations or warranties of the Seller, Broker, PEAC or any other parties acting on their behalf concerning the condition of the Property and any matters related thereto.
The Buyer will indemnify and hold the Seller, Broker and PEAC, its employees, agents, officers, directors and employees harmless from any claims, costs liabilities and expenses arising from or pertaining to any inspections of the Property by the Buyer and anyone acting on its behalf before the Auction.
Each Broker must register and execute with Client by filling out the Broker/Agent Registration form provided by PEAC; available at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.
BIDDER’S INITIALS 5 PEAC TERMS & CONDITIONS Previous Value - “Previous Value” refers to the higher of the appraised value of the Property in connection with the most recent mortgage on the Property, the most recent sales price, the most recent asking price, the assessed value or the most recent broker price opinion for the Property.
Property specific documentation, including a preliminary title report, will be available on the PEAC website or contact ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and we will be glad to email the documentation.