162± Acre Virginia Land & Timber Auction – Brookneal, VA

Auction Terms and Conditions:  In addition to the “General Terms and Conditions” referenced below, which apply to all of our services, the following Auction Terms and Conditions (“Auction Terms”) apply to the auction described above. Please review these Auction Terms and the General Terms and Conditions prior to participating or registering to participate in the auction, as they form a legally binding agreement between you and Nicholls Auction Marketing Group, Inc. (“Nicholls Auction”). Capitalized terms used but not defined in these Auction Terms will have the meanings ascribed to them in the General Terms and Conditions.

Approval to Bid: Approval to bid is subject to completing an on-site or on-line bidder registration form and verification of the required earnest money deposit by auction personnel.  The approval of online bidders is subject to confirmation by the auction coordinator.

Earnest Money: A $15,000 deposit is due immediately after confirmation of Final Bid, must be presented at registration before the auction begins, and the balance is due at closing within 45 days or as soon thereafter as seller’s closing documents are available (unless prior written arrangements have been made by contacting Mark Tomlin @ 434-941-1814 or Mason Thomas @ 434-665-7344 ). Deposit must be in the form of a cashier’s check or certified check (from a US bank/financial institution) made payable to yourself, which you will endorse over to Nicholls Auction if you are the successful bidder. The deposit is non-refundable. The deposit will be held in a non-interest bearing escrow account until settlement. Subject to Nicholls Auction’s sole discretion, there is a possibility of a lesser deposit if proof of pre-approved financing is presented prior to auction.

Closing: If you are the successful Buyer (as defined in the General Terms), you must sign all documents and contracts immediately after the acceptance of the Final Bid. Buyer will also be required to make an appointment with the closing agent to pay the balance of the purchase price and receive the deed to the property. Closing is to take place on or before 45 days from date of auction (unless prior arrangements have been made with and agreed to in writing by Nicholls Auction). Buyer acknowledges and agrees that time is of the essence. Buyer will pay for all of their closing costs associated with the transaction (please see the General Terms).

Real Estate Salesperson/Broker Acknowledgment: Although having a real estate salesperson/broker is not required, if you are working with a real estate salesperson/broker, the real estate salesperson/broker must complete the Auction Bidder Representation Form available here: “Auction Bidder Representation Form”.  In order for your real estate salesperson/broker to be compensated, the Auction Bidder Representation Form must be completed and properly submitted no later than 6 a.m. on the day of the auction, which is 11/4/2026 (no exceptions). A registered real estate salesperson/broker can only represent one buyer at each auction event. If the auction at which you wish to bid has a live bidding component, your real estate salesperson/broker must attend the auction event in person regardless of whether you are bidding live in person on site or bidding on line off site, and real estate salesperson/broker must adhere to all terms.

Auction Premium: A 10% auction premium will be added to the Final Bid and will become a part of the purchase price (10% Auction Premium Example: Bid Price: $100,000, Plus 10% Auction Premium of $10,000; Total Contract Price = $110,000).  The auction premium is non-negotiable.

Information is not Guaranteed; Sale is “AS IS” with all Faults: Please refer to the “Property Information Packet” (found within the “Documents” section for this auction at www.nichollsauction.com) for more details about this auction. All information and dimensions made available by Nicholls Auction concerning the property was derived from sources believed to be correct, but are not guaranteed to be correct. You agree to conduct your own investigation and inspection prior to bidding, and you agree to rely on your own information, judgment, and inspection of the property. Any reliance on any of the information or dimensions made available by Nicholls Auction concerning the property is solely at your risk. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding. All announcements made on the day of the auction will take precedence over all previously provided material and any other oral statements made.

No Contingencies: The sale of the property and Buyer’s obligation to purchase of the property is NOT contingent upon Buyer’s financing, the condition of property, an appraisal, an inspection, or any other condition (except to the extent provided in the applicable contract documents or required by applicable law).

Online Simulcast Bidding: Subject to the “Online Simulcast Terms” below, we are happy to offer online/simulcast bidding for bidders who cannot physically attend the live auction event. Please understand (and you hereby agree) that online bidding will only be allowed if you are physically NOT on site at the live auction. Online bidding will NOT be allowed if you are physically in attendance at the live auction event.  If compatible with your mobile or computer device, you can download our app in the Apple App Store or Google Play Store or use your web browser to register for and then bid during the live auction. Please see the next section for “Online Simulcast Terms.”

Online Simulcast Terms: The following additional terms form a part of the Auction Terms and apply to you if you are registered for or participating in LIVE ONLINE SIMULCAST BIDDING. If there is a conflict between any provision in these Online Simulcast Terms and the Auction Terms, the conflicting provision in these Online Simulcast Terms will control:

• Contact the Auction Coordinator with Questions: Please contact the auction coordinator (Mark Tomlin or Mason Thomas) immediately if you need additional information.
• Bidder Verification: The identity of all bidders will be and must be verified (via phone, email or text).  Bidding rights are provisional, and if complete verification is not possible, Nicholls Auction Marketing Group, Inc. will reject your registration, and your ability to bid will be terminated.
• Deposit Payment: If you are declared the successful bidder (or Buyer), the credit card that you provided at registration will be charged (and you agree Nicholls Auction is authorized to charge your credit card) $500 toward your deposit. The remaining earnest money deposit of $14,500 must be in the form of cashier’s or certified check (United States Bank) or wire transfer to Nicholls Auction Marketing Group, Inc. and is due immediately. The entirety of the remaining balance of the final Purchase Price is due at closing. Buyer shall be responsible for all wire transfer fees.
• Contract Package: At the close of the auction, and after seller confirmation, if you are the Buyer, Nicholls Auction will provide to you the contract package with all required contract documents for you to execute and return to Nicholls Auction.  Contract packages will be sent by e-mail or hand delivered to Buyer, who must execute and hand deliver, email, fax or overnight mail the documents back to Nicholls Auction within 24 hours of receipt. If you are the Buyer and you do not execute and return all required contract documents with the remaining earnest money deposit within 24 hours of receipt, you will be in default and subject to legal action. This is a legally binding contract.
• Administrative Fee: In the event you are the Buyer and you fail to submit the signed “Real Estate Contract of Purchase” and other contract documents and deposit earnest money as provided in these Auction Terms, you agree to pay Nicholls Auction (and you agree that Nicholls Auction is authorized to charge the credit card provided at registration) an administrative fee of $15,000. Additional default remedies are reserved by Nicholls Auction, and the seller, as provided in these Auction Terms, the General Terms and Conditions, and the “Real Estate Contract of Purchase” and related contract documents. All administrative fees are non-refundable.
• Technical Issues: Neither Nicholls Auction nor any of its affiliates or vendors, shall be held responsible or liable for a missed bid or any failure of the software or other computer systems or technology used for online bidding to function properly for any reason.  In the unfortunate event of a DDOS attack, server attack, shut down, internet disruption, or technological problem, Nicholls Auction reserves the right, but is not required, to extend the bidding time.  To minimize the chance of being affected by internet or software issues, please use the “Max Bid” feature.

General Terms and Conditions also Apply: Please review our General Terms and Conditions (the “General Terms”) found here: “General Terms and Conditions” which form a part of your agreement with us and govern your access to or use of any of our products or services, including, without limitation, our auctions, our website and our mobile applications.