Bidding Procedure: The properties will sell to the highest bidder(s) via Public Auction. Multi-Parcel bidding will be available exclusively within the Tracts 3-6 combinations. Tracts 1 and 2 will be offered separately and will not be part of any combinations. All properties will sell subject to confirmation of the Seller.
Acceptance of Bid Prices: Successful bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Successful online bidder(s) will sign a Confirmation of Sale Agreement within 24 hours after Auction. Bidding IS NOT CONDITIONAL UPON FINANCING.
Down Payment: Purchaser(s) will deposit 5% of purchase price as down payment with the Auction Company upon signing of Confirmation of Sale Agreement. Onsite Purchaser(s) will place deposit date of auction; online Purchaser(s) will place deposit within 3 days of auction. Balance will be due at closing.
Real Estate Taxes: Seller will credit to purchaser an amount equal to all 2021 real estate taxes owed and to be paid in 2022.
Cash Rent: Seller will receive all 2021 cash rents.
Closing Date: December 7, 2021, time being of the essence.
Possession: Date of closing with tenants in possession rights reserved to harvest 2021 grain crop, if necessary.
Section 1031 Tax Deferred Exchange: The Seller reserves the right to use all or part of the proceeds from the transaction(s) for the completion of an IRS Section 1031 tax deferred exchange of like-kind property. Seller does not expect that this will inconvenience Purchaser(s), but Purchaser(s) will agree to comply with all reasonable requests related to the administration of the Section 1031 transaction.
Agency: SHERIDANS LLC and its representatives are Exclusive Sales Agents for the Seller.
Online Bidding: Auctioneer will accept online bids during auction in real time. Auctioneer retains full discretion to modify these terms at any time prior to or during the auction. Bidders’ use of online bidding option and bid placement constitutes acceptance and agreement to adhere to these terms. All bidders are responsible for reading all terms and conditions. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations. Auctioneer is not responsible for the failure of any part of the bidding process or internet bidding.
Disclaimer & Absence of Warranties: All information contained in this brochure and all related materials is subject to the terms and conditions outlined in the Confirmation of Sale Agreement. Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information. The property is sold on an "AS IS, WHERE IS" basis, and no warranties or representations, either expressed or implied, concerning the property are made by the Seller or the Auction Company. Each bidder is responsible for conducting his/her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this auction marketing information is believed to be accurate, but is subject to verification by all parties relying on it. Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, legal capacity, etc. All decisions of the Auctioneer are final.
Additional Online Bidding Terms:
PLEASE NOTE: All online bidders agree that they have read and fully understand these terms and agree to be bound thereby:
No Online Bidding Fees: No buyer premiums or other online bidding fees will be charged for online bidding.
Bidder Registration: All online bidders must pre-register on the Online Portal prior to the auction date and all registered bidders must be authenticated by the Auction Company prior to activation of their account.
Online Bidding: No pre-bidding will be permitted prior to the auction. Bids will be accepted in real time once the auction has started and the auction will end when designated by the auctioneer with no scheduled ending time. Auctioneer retains full discretion to modify these terms at any time prior to or during the auction. Bidders’ use of online bidding option and bid placement shall be deemed a live public bid and constitutes acceptance and agreement to adhere to these terms. All bidders are responsible for reading all terms and conditions. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations. Auctioneer is not responsible for the failure of any part of the bidding process or internet bidding. Bidding increments are at the discretion of the Auctioneer.
Modifications and Technical Difficulties: Auctioneer retains full discretion to modify the date, time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Auctioneer or the Seller. In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Sheridan and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither Sheridan nor the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary.
Bidder’s Agreement: Any use of this online bidding option constitutes your acceptance and agreement to adhere to these terms. Please print a copy for your records. All bidders are responsible for reading all terms and conditions carefully. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations.
Bid Onsite or Online!
Take a look at these three diverse and productive NE Clark County farms, ranging from 105 to 193 acres and from highly productive black soils to gently rolling and picturesque land with beautiful wooded acreage. Each of the properties is situated along major roadways with easy access to Springfield, Dayton, and Columbus, and just minutes away from I-70.
Sale by Order of
Paul J. Gross & Jon Stafford (Tracts 1&2)
GCSquared, LLC (Tracts 3-6)