All registered Buyers have to familiarize themselves with and accept the Rules of Auction and Conditions of Sale upon registration and before placing any bid at auction. Failure to comply with these terms allows the Seller to elect to place the Buyer in breach of contract. In the event of the Seller placing the Buyer in breach of contract, and the Buyer does not rectify his breach within the required time period, then the Seller has the right to cancel the sale. In the event of a cancelation of the sale, the Seller retains a portion of the deposit and can further elect to re-auction the property at the cost of the defaulting party and take further legal action if desired.