Providence Estates

**TERMS & CONDITIONS OF SALE**
Associated Estate & Appraisal Co.

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### 1. AGENCY

Associated Estate & Appraisal Co. (?Auctioneer? or ?Company?) acts solely as agent for consignor(s) or owner(s) of property offered for sale.

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### 2. SCOPE OF SALES

These Terms apply to all sales conducted by the Company, including:

* Live auctions (in-person or simulcast)
* Timed/online auctions
* Buy-It-Now and private treaty sales

By registering, bidding, or purchasing, you agree to be bound by these Terms.

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### 3. BINDING CONTRACT

All bids and purchases are legally binding.
A bid, whether placed live, online, absentee, or via telephone, constitutes an irrevocable offer to purchase.

The Company reserves the right to modify or waive Terms at its sole discretion.

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### 4. CONDITION OF PROPERTY

All property is sold **?AS IS,? ?WHERE IS,? WITH ALL FAULTS**.

The Company and consignors make **no warranties**, express or implied, including:

* authenticity
* provenance
* condition
* merchantability
* fitness for a particular purpose
* title

Descriptions, images, and condition reports are opinions only and not guarantees.

Buyers are solely responsible for inspection prior to bidding.

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### 5. LIMITED AUTHENTICITY GUARANTEE

If a lot is proven to be a deliberate forgery or materially misrepresented:

* Buyer must notify the Company within **48 hours of receipt**
* Item must be returned in original condition

Remedy, if any, is at the Company?s sole discretion.

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### 6. REGISTRATION & BIDDER RESPONSIBILITY

All bidders must register and provide valid identification.

Bidders are responsible for:

* all bids placed under their account
* maintaining account security

The Company may refuse or revoke bidding privileges at any time.

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### 7. BUYER?S PREMIUM & PAYMENT

* Live bidders: **20% buyer?s premium**
* Online bidders: **25% buyer?s premium** (plus platform fees if applicable)

Payment is due immediately upon sale.

Accepted methods:

* Cash
* Wire transfer
* Approved checks
* Credit cards (**3% fee**)

International bidders: **wire transfer only**

Title does not transfer until payment clears.

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### 8. AUCTION FORMAT TERMS

#### A. LIVE AUCTIONS

* Conducted by an auctioneer in real time
* Auctioneer controls bidding increments and pace
* Auctioneer has final authority on disputes

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#### B. TIMED / ONLINE AUCTIONS

* Lots close at scheduled times
* The Company may employ a **?soft close?**, extending bidding if bids are placed near closing

**Max Bidding:**

* The platform may automatically increase bids on behalf of a bidder up to their maximum

**Technical Issues:**

* The Company is not responsible for:

* internet failures
* platform outages
* delayed bids
* user error

The Company reserves the right to:

* extend, pause, or cancel auctions
* reopen bidding in the event of system issues

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#### C. BUY-IT-NOW SALES

* Items are sold at a fixed price
* The first confirmed buyer secures the item
* Adding to cart does NOT guarantee purchase

The Company reserves the right to:

* cancel transactions due to errors or conflicting sales
* withdraw items at any time

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### 9. ABSENTEE, PHONE & ONLINE BIDDING

These services are offered as a convenience only.

The Company assumes no liability for:

* failure to execute bids
* missed communications
* technical issues

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### 10. RESERVES

Some lots may carry a confidential reserve.

The Auctioneer may:

* bid on behalf of consignor up to reserve
* open bidding at any level deemed appropriate

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### 11. AUCTIONEER DISCRETION

The Auctioneer has absolute discretion to:

* accept or reject bids
* determine the winning bidder
* resolve disputes
* withdraw or reoffer lots

All decisions are final.

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### 12. RISK OF LOSS

Risk transfers to the buyer immediately upon:

* fall of hammer (live auction)
* lot closing (timed auction)
* confirmation of purchase (buy-it-now)

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### 13. PICKUP, STORAGE & ABANDONMENT

All property must be removed within **5 business days** unless otherwise stated.

Failure to remove property will result in:

* storage fee: **10% of purchase price per month**
* administrative fee: **$200**

After **30 days**, property is deemed abandoned and may be resold or disposed of without refund.

The Company is not liable for loss, theft, or damage after the sale.

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### 14. SHIPPING

Shipping is the buyer?s responsibility.

If the Company assists:

* all packing and handling is at buyer?s risk
* no liability for carrier performance

Items will not be released until paid in full.

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### 15. DEFAULT

If a buyer fails to pay or comply:
The Company may:

* cancel the sale
* resell the property
* hold buyer liable for deficiencies and costs
* pursue legal remedies
* ban future participation

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### 16. CHARGEBACKS

Chargebacks are strictly prohibited.

Any buyer initiating a chargeback agrees to:

* pay all amounts due
* reimburse fees, penalties, and legal costs

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### 17. TITLE

The Company makes no guarantee of title.

Buyer assumes all risks related to ownership claims.

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### 18. WITHDRAWAL

The Company may withdraw any lot at any time prior to sale without liability.

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### 19. GOVERNING LAW

These Terms are governed by the laws of the State of Rhode Island.

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### 20. SEVERABILITY

If any provision is deemed unenforceable, the remaining provisions remain in full force.

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