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Rules and Regulations of the Aucton
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ALL VEHICLES ARE SOLD "AS IS" unless announced inspected. Buyers may arbitrate claims concerning an excessively rusted or bent main frame and under carriage. Vehicles may also be arbitrated for an odometer discrepancy. Any claims must be submitted by 4:00 P.M. on the Thursday following the auction. All Announcements during the auction take precedence over printed announcements. Please inspect all vehicles before bidding...know what you are bidding on. Make sure you are not buying a standard transmission when you really wanted an automatic.
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VIEWING OF VEHICLES: Auctions are held every Tuesday evening at 6:00 P.M. the night of the auction. Buyers should inspect the vehicles before bidding. Check to ensure you are buying the right year, make, model, mileage, equipment and condition. The No Run auctions is held every Tuesday at 5 P.M. Doors open at 4:30 P.M. for inspection of No Runs. Doors open at 5 PM for viewing of the 6:00 PM auction.
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SUBJECT TO SELLERS APPROVAL: All sellers have until 4:00 P.M. on the Thursday following the auction to accept or reject the high bid. The buyer's deposit is not refundable until the seller has rejected the offer.
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REGISTRATION: All bidders MUST BE REGISTERED before the auction. To register, stop by the auction office and obtain a bidders badge. This badge costs $50.00 and is non-refundable and good for a whole year after the purchase date. This badge must be worn visible to the auctioneer. The name you obtain your bidders badge in, will be the name your vehicle title will be made out to. PLEASE NOTE: A $50.00 BUYER NAME CHANGE FEE WILL BE INCURRED IF A NAME CHANGE IS MADE AFTER A BID IS WON. Should you wish to buy a vehicle for another person, please register in their name...but be advised that the person must be present at the time the vehicle is paid for and removed.
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PURCHASE TERMS AND METHOD OF PAYMENT: Once a bid had won one a vehicle, please proceed to the lower auction block and leave a deposit of $300.00 per vehicle purchased. All buyers have two(2) days to pay the remaining balance. PLEASE NOTE: All vehicles must be paid in full no later than the Thursday following the auction by 4:15 P.M. or your deposit will be forfeited. DEFAULTING ON A SALE WILL RESULT IN THE BUYER BEING BARRED FROM ANY FUTURE AUCTIONS. METHOD OF PAYMENT: CASH ONLY. BUYERS FEES ARE AS FOLLOWS:
| Price Range |
Buy Fee |
| $0-$249 |
$140 |
| $250-$499 |
$160 |
| $500-$999 |
$190 |
| $1000-$1499 |
$200 |
| $1500-$1999 |
$210 |
| $2000-$14,999 |
$290 |
| $15,000-$19,999 |
$340 |
$20,000 and up
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$390 |
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TITLES: The seller of any vehicle has ten(10) business days to provide LAB Auction with a clean title. If a clean title is not received within 10 business days, the purchaser must physically stop by the auction premises to request a refund. A refund will only be made upon a satisfactory inspection of the actual vehicle. Please do not invest any additional monies into a vehicle until you receive a clean title for the purchased vehicle...LAB Auctions will not be responsible for any charges in addition to the sell price plus auction fees. No reimbursement will be made for invested monies including but not limited to: vehicle removal, work done to vehicle, or towing expenses for the return of vehicles. All titles are strictly assigned according to the name appearing on your bidders badge. Maryland residents purchasing a vehicle will be provided with a notarized bill of sale. PLEASE NOTE: A $85.00 PROCESSING FEE IS CHARGED ON EACH VEHICLE PURCHASED.
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PUBLIC SELLERS: The fee for selling a vehicle is $200 which includes Car-Fax and Autocheck vehicle history reports fees. This is a non-refundable fee. All vehicles must be registered will full description on Thursday and Friday by 4 P.M. All vehicles must be free and clear of all liens. The title must be presented at the time of registration. Please Note: You must have owned the vehicle in your name for at least one year prior to registering it in an auction. Vehicle must remain on the auction lot at the time of registration - NO EXCEPTIONS.
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STORAGE: A $60.00 late fee and a $35.00 per day storage fee will be charge against any vehicle left on the auction premises past the Friday following the auction. All vehicles not removed from the auction premises within thirty (30) days will be disposed of, resulting in forfeit of any monetary deposits.
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DEALERS: Please issue a check for each individual transaction. All checks must be pre-approved before auction day.
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DUE TO NEW INSURANCE REGULATIONS AND OUR CONCERN FOR SAFETY, CHILDREN UNDER THE AGE OF 12 ARE NOT PERMITTED ON THE AUCTION PREMISES. WE APOLOGIZE FOR ANY INCONVENIENCE.
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ANY RULE IS SUBJECT TO CHANGE THE DAY OF THE AUCTION. RULES OF THE AUCTION WILL BE ANNOUNCED THE DAY OF THE SALE. ANY RULE ANNOUNCED AT THE SALE, WILL TAKE PRECEDENCE OVER THE RULES LISTED ON THIS WEBSITE!
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