Residential/Commercial Botkins Real Estate Auction

Online Auction Terms and Conditions of Sale

309 East State Street. Botkins Ohio
Shelby County Parcel #'s 11-05-04-126-006, 11-05-04-126-007

1. Bidders must do all of their due diligence (home inspections, appraisals, etc.) and have those results satisfactory to their expectations prior to the end of the online bidding. The Sales Contract will contain no contingencies for these matters. This property is offered in AS IS, WHERE IS condition and is not being offered subject to financing. The property will be sold in “As is” condition without express or implied warranty as to the nature and description of the improvements. The property will be sold subject to all easements, agreements, restrictions or covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract
2. A Buyer’s Premium in the amount of 10% or $ 5000.00 whichever is greater will be added to the high bid. The Buyer’s Premium is in addition to the winning bid, and when added together with the winning bid this figure represents the Final Purchase Price to be paid by the purchaser at settlement.
3. Settlement is to take place no later than September 26th. 2018. Closing shall be held at Lawyer's Title Agency 100 South Main Ave. Sidney, Ohio or a mutually agreed upon location. Purchaser should secure any necessary financing and select a settlement agent or attorney immediately.
4. Property is selling with owner confirmation. Upon notification of acceptance the winning bidder must execute the Memorandum of Auction Sales Agreement and deposit with Re/Max One a down payment of $ 5,000.00 in the form of cash or check no later than 24 hours after the end of the online auction. This transaction shall take place at our office located at 135 South Wilkinson Ave. in Sidney, Ohio. Deposit will be returned to the buyer upon successful closing of the property.
5. If a residential structure is located on the property that was built before 1978 the winning bidder will be signing a Lead Based Paint Hazard Disclosure Statement and will waive the opportunity to conduct a risk assessment or inspection for the presence of lead based paint and or lead based hazards inspection under Federal and Ohio law.
6. If applicable the winning bidder will sign the Ohio Residential Property Disclaimer Statement.
7. Potential bidders have been notified of an underground fuel tank located on the property.
8. Real Estate taxes and assessments will be pro-rated to date of closing as Customary in Shelby County.
9. Utilities shall be paid by the seller to date of closing.
10. All transfer taxes shall be the responsibility of the purchaser.
11. As the auction nears the ending time it will auto-extend until bidding is silent for 10 minutes.
12. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
13. The information listed in materials describing the property is obtained from sources, which are deemed reliable, but not guaranteed. It is the bidder’s responsibility to verify all property information prior to bid and sale. The decision to purchase or not purchase the property is the sole and independent business decision of each bidder. Auctioneer assumes no responsibility for the condition or property or for the performance of this Contract by any and all parties. Purchaser hereby warrants and represents that Auctioneer has not made any statements, representation or warranty regarding the condition of the premises, zoning conditions, governmental requirements or environmental matters, guarantees or warranties of the like, upon which Purchaser has relied and which is not contained in the Contract. Vondenhuevel Auctioneers shall not be responsible or liable in any way if the owner fails to honor the bid, or refuses to settle or cannot close in accordance with the Sales Contract.
14. Vondenhuevel Auctioneers reserves the right to withdraw any property from sale and may cancel any auction sale prior to the start of bidding.
15. Bidding increments are made in amounts acceptable to the Auctioneer, who may set a minimum bidding increment as the sale progresses. Any bid may be rejected by the Auctioneer if it is merely nominal or, at his or her discretion, it may negatively affect the auction process.
16. In the event of a dispute between bidders the Auctioneer in its discretion may determine the successful bidder or re-offer the property for sale.
17. By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders shall be deemed to have consented to the jurisdiction of the State and Federal courts of the State of Ohio.
18. Vondenhuevel Auctioneers may accept telephone bids from registered bidders. Phone bids will be placed online under the name of “Phone Bidder”.