1. The seller guarantees the title of vehicles that are sold through the Auction. This guarantee of the title warrants that title shall be marketable and free and clear of all liens and encumbrances, including any brand. Seller will NOT be paid for vehicles until a transferable title is received.
2. All titles submitted by Seller must be in Seller’s company name on title or on reassignment form. Any sale without proper documents is subject to rejection.
3. If the Auction does not receive the title and all documents required for transfer within 30 days of sale, the buyer may return the vehicle for “no title” after giving TAA 24 hours notice. Buyer must receive a Car Return confirmation number from the auction office. Vehicle must be returned to Auction within 48 hours of notification or buyer waives right to return vehicle.
4. If the sale is canceled due to no title, the seller will pay TAA both a seller’s fee and a buyer’s fee. Seller will also be responsible for Buyer’s reasonable transportation expenses to and from the Buyer’s dealership to the Auction.
5. If the seller does not provide a title within 30 days TAA may cancel the sale or take necessary steps to secure title. All expenses in obtaining such title will be charged to the seller.
6. Vehicle must be in same condition as when purchased and not exceed anything over 250 miles from the date of purchase. There may be a charge of $.10 per mile for excessive mileage on a returned vehicle. The vehicle must be received and INSPECTED by TAA management before the Buyer is able to cancel the transaction.
7. In addition, buyer is cautioned not to sell or repair, or put excess miles on unit until title is received. Expenses incurred on vehicles sold under the Title Delay light will NOT be reimbursed.
8. If title is mailed from Auction to Buyer, Buyer may not return vehicle. TAA will not be responsible for titles mailed from Auction and not received. Buyer has the choice of alternative delivery methods and will pay Auction cost.