Bidding Procedure: The property will sell to the highest bidder(s) via the Multi-Parcel Auction Method subject to confirmation of the Seller.
Acceptance of Bid Prices: The successful bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. 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: Taxes will be prorated to date of closing using long proration method.
Survey: Seller will execute and bear the costs of new survey for Tract 1-4 prior to the closing(s). Tract 5 will sell based on the current legal description
Closing Date: Later of July 17, 2020, or seven days following recording of new survey, time being of the essence, but not later than August 31, 2020. Purchaser will pay customary portion of closing costs at closing.
Possession: Date of closing.
Agency: Sheridan & Associates, Auctioneers, Real Estate Broker, Appraisers, LLC and its representatives are Exclusive Sales Agents for the Seller.
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.
Purchase Contract: Online Purchaser(s) will sign the Confirmation of Sale Agreement (i.e. Purchase Agreement) via electronic signature promptly upon presentation from Auctioneer within 24 hours of auction unless other arrangements are agreed upon by Purchaser and Seller
Down Payment: Online bidders agree to deliver to Auctioneer via overnight mail or personally delivered funds the 5% down payment on purchases within 48 hours of the auction. Personal delivery may be made at 200 Parkview Lane, Cedarville, Ohio (please call prior for appointment). All funds will be paid for in U.S. funds.
Online Bidding: Online pre-bidding will be available beginning May 20, 2020. Auctioneer will also accept online bids during auction in real time. Auctioneer retains full discretion to modify thee 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.
Online bidding features will include pre-Auction and real time livestream bidding during the auction. No "max bids" will be accepted (i.e. bidders may not enter a starting bid with an automatic "not to exceed" bid; bidders will enter all bids manually). The auction will end upon the Auctioneer's declaration and all "SOLD" tracts will be declared sold at the same time based on the winning set of bids. 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: Your 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.
This is a test auction for Sheridan & Associates staff