TERMS & CONDITIONS

Updated November 11, 2026

For Sale by Online Public Auction: 2.39 Acre Lot Newton Street, City of Salamanca, County of Cattaraugus, State of New York Tax Parcel: 73.063-1-4 Lot Size: 2.39 Acres Bidding Opens Monday November 9, 2026 Bidding Ends Monday November 23, 2026 6:30pm 1. This property is sold "as is, where is", with no warranty or guarantee, expressly written or implied. The Seller shall not be responsible for the correct description, authenticity, genuineness, or defects herein, and makes no warranty in connection therewith. Any descriptions or representations are for identification purposes only and are not to be construed as a warranty of any type. 2. PREVIEW. This property is available for inspection, at the specified dates included in the auction information. It is the Prospective Bidder's responsibility to inspect and research the property to satisfy himself or herself as to the condition and value and to bid based upon that judgment solely. 3. Approval. This auction is subject to approval of the Executor within 24 hours of the auction close. The Executor/Seller holds the sole right to approve or reject the bids for the auction. 4. Buyers Premium. The successful high bidder will be responsible to pay a buyer's premium of 3.5% on and above the sale price, due immediately upon acceptance of the winning bid. Buyers Premium shall be held in escrow until closing. 5. Deposit. A 10% deposit in cash or secured funds, shall be due within five business days and/or upon signing the Contract for Purchase. 6. Closing. The balance owing shall be due at the negotiated closing. Buyer is responsible for all closing costs except for attorney fees of the Seller. The Seller shall provide a Deed to the Buyer, that is clear of any liens. 7. Default. In the event that the sale is not completed due to default of the Seller, the deposit and buyer's premium will be refunded to the Buyer. In the event that the sale is not completed due to default of the Buyer, the deposit and buyer's premium will be forfeited to the sellers. 8. Indemnity. Buyer/s agree to indemnify and save harmless Seller and Auctioneers and their employees, licensees, agents, successors or assigns, against any and all claims, injury, loss, liabilities, lawsuits, accidents, damages, demands, action or cause of action whatsoever in any manner arising from this auction or privately negotiated sale; including costs, expenses, or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the Bidder now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any items or lots purchased or any law or regulation applicable thereto. The Estate of Joseph E Reed

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