Terms and Conditions
Terms and Conditions

Terms and Conditions ~ Personal Property

Everything Sold As-Is, Where-Is, No Warranties Written or Implied:
Everything sold as-is, where-is, no warranties written or implied. Buyers shall rely entirely on their own judgment and inspection of property. Nor is any item guaranteed to be of any particular age, year of manufacture, model, make or condition. Both buyer and seller acknowledge their person and property are at the auction site at their own risk. No person shall have any claim against auctioneers, their agents, employees or principals for any injuries sustained nor for damages to or loss of property which may occur from any cause whatsoever. All oral statements made auction day supersede any printed materials. Food, beverages and restrooms are available on-site for our Live Auctions.

Any Condition statement is given as a courtesy to a client, it is only an opinion & should not be treated as a statement of fact. Sachs 5th Real Estate and Auction shall have no responsibility for any error or omission. Furthermore, the absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear & tear, imperfections, or the effects of aging.

Terms of Payment:
Complete payment due day of sale or at the assigned pick up times (when applicable) for local bidders. No property removed until settled. All funds must be verified before merchandise can be released. Sachs 5th Real Estate and Auction accepts cash, major credit, debit cards. Checks with a bank letter of guarantee will be accepted or pre-approved and already known and established accounts with Sachs 5th Real Estate and Auction. No out of town checks accepted. Please have proper identification with you. No dealer's drafts will be accepted. The only payment accepted from Internet bidders is by credit card up to $2,000 and wire transfer for over $2,000. Credit Card charge backs will not be accepted. Local Bidders: We do not automatically charge your credit card you provided online. Please pay when you pick up your items with cash, credit card, or debit card of your choice.

Absentee Bids & Online Bids Policy:
Live Auction Bidders: Absentee bids (for Live Auctions) are welcome. Sachs 5th Real Estate and Auction requires a bid of at least $50.00 per lot for absentee bids. The bid you make will be the maximum you are willing to bid. We may start the bidding at 2 increments below the maximum bid, at the discretion of the auctioneer. However, $50.00 is the minimum for absentee bids. (If your maximum absentee bid is $50.00 the bidding will start at $50.00. If your maximum absentee bid is, for example, $100.00, the starting bid would be 2 increments below that bid.) We require a credit card number to accept an absentee bid. Absentee bids cannot be withdrawn after the start of the auction. Absentee bids accepted during the auction cannot be withdrawn. Absentee bids are subject to all of the same Terms and Conditions as is the on-site & online bids are.
Online Bidders: Online bidders can bid at the opening bid or more. Online bidders are only restricted to bidding at the opening bid amount (as stated in the catalog), not the $50.00 minimum as required for absentee bids for our live auctions. Online maximum bids are not subject to the bid starting at 2 increments below the the bidder's maximum bid unless stated in the Terms and Conditions on Proxibid for that particular auction. Your bid will only increase as other bidders bid until it reaches your maximum bid amount.

Bank Letter of Guarantee:
A personal or company check will be accepted only when accompanied by a bank letter guaranteeing payment. This letter must be on a bank letterhead and must state (1) that payment is guaranteed; (2) that the guarantee is valid for 30 days after receipt in the Sales Office; and (3) that the guarantee covers the purchase from Sachs 5th Real Estate and Auction. The letter must be signed by a bank official authorized to guarantee payment. (See example below.) Sachs 5th Real Estate and Auction reserves the right to hold merchandise until such time the Bank Letter of Guarantee can be verified.

Special Note:
Local Bidders: Pick up items on the day of sale (for Live Auctions only) or Monday after the sale between the hours of 10 a.m. and 4 p.m. (for Live and Online Auctions). Bring help and tools to remove your items. Everything must be removed by 4 p.m. the Monday after the sale, unless prior arrangements have been made. Additional times for pick up may be offered.

The venue & jurisdiction is Valencia County in the State of New Mexico and none other. Credit card charge backs will not be accepted.

Local Bidders: We do not normally accept checks. If a check is accepted (See Terms of Payment) a $35.00 fee will be charged for any returned check for any reason. Any check must be approved by management. Save us all the hassle, and bring your credit, debit card, or cash when you pick up your winning bids.

Notice to Consignors:
Disposition of items will be as per contract.

Sample Bank Letter

Letter of Guarantee Sample


Real Estate Auctions

Real Estate Auctions are a totally different animal. The Terms and Conditions of a Real Estate Auction will be available to all bidders.

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225 N. Main Street, Belen, New Mexico 87002 (Only 30 miles south of Albuquerque) • MAP
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