Common use of Your Intent to Purchase Clause in Contracts

Your Intent to Purchase. Bidding on a property indicates your intent to purchase that property and is considered a legally binding offer to purchase the property, which offer remains open until the Buyer fulfills the obligations under these Terms and Conditions. As a Buyer, you are obligated to complete the transaction if you submit the Highest Bid. NOTWITHSTANDING THE FOREGOING OR ANYTHING IN THIS AGREEMENT, THE BUYER IS NOT ELIGIBLE TO RECEIVE ANY BENEFIT FROM THE AUCTION OF A PROPERTY UNLESS THE BUYER STRICTLY COMPLIES WITH ALL TERMS OF THIS AGREEMENT AND APPLICABLE LAW.