Tract 1

Updated Auction Terms and Conditions

 

Sales Method: The property will be offered in 1 tract. There will be opening bidding. Bidders will be able to

increase their bids until the auctioneer announces the tract is sold.

Down Payment: 10% down payment on the day of the auction. The down payment must be by personal check,

business check, or cashier’s check.

Financing: Bidders’ must have their financing arranged prior to the auction. No bids are conditional upon

financing.

Absentee and phone bids: ALL absentee and phone bidders must register with Dye Real Estate and Land

Company prior to the auction. Anyone bidding on behalf of an absentee bidder will be equally responsible for

the bid and required to enter into a contract to purchase at the end of the auction.

Auction Dispute: If any dispute arises between or among bidders, the decision of the Auctioneer shall be final

and absolute.

Online Bidders: All online bidders must be registered prior to the day of the auction.

TECHNOLOGY DISCLAIMER: Dye Real Estate and Land Co., L.L.C., its affiliates, partners and vendors, make no

warranty or guarantee that the online bidding system will function as designed on the day of sale. Technical

problems can and sometimes do occur. If a technical problem occurs and you are not able to place your bid

during the live auction, Dye Real Estate and Land Co., L.L.C., its affiliates, partners and vendors will not be

held liable or responsible for any claim of loss, whether actual or potential, as a result of the technical failure. I

acknowledge that I am accepting this offer to place bids during a live outcry auction over the Internet in lieu of

actually attending the auction as a personal convenience to me.

Property Inspection: Potential purchasers are responsible for conducting their own inspection of the property

and any due diligence, inquiries, and inspections will be conducted at their own risk. Seller and real estate

company disclaims any and all responsibility for the bidder’s safety during any physical inspection of the

property.

Acceptance of Bids: Any and all successful bidders will be required to enter into a purchase agreement with the

seller immediately following the sale, seller may be signing the contract(s) electronically. All final bids are

subject to the seller’s confirmation. This offer will remain irrevocable and available to the seller for 5 business

days after delivery of this offer to the sellers, its counsel, or Agent.

Evidence of title: Dye Real Estate and Land Company will provide a preliminary title opinion, certificate, or

report to be made available to prospective bidders for review prior to bidding. The certificate is given for the

protection of Dye Real Estate and Land Company only. No other person or entity may rely on the opinion

expressed herein; nor is any liability assumed by the certification except to. If any buyer elects to purchase title

insurance, the cost thereof will be at buyer’s sole expense. Seller will convey title free and clear of liens, but

otherwise subject to all easements and matters of record. All tracts are being sold “AS IS”.

Deed: Seller to provide a general warranty deed.

Closing: The balance of the purchase price is due at closing, which will take place within 45 days after the

auction. In the event the Buyer fails to close and pay their balance when due, Seller reserves all rights allowed

by law, including a suit for damages, specific performance or cancellation of the sale with the Seller to retain the

 

earnest money deposit. Any action taken after default shall be solely at the Seller's option with all costs incurred

by Seller being paid by the Buyer.

Possession: Possession will be at closing.

Real Estate Taxes: All taxes and assessments shall be prorated to the day of closing. In prorating taxes and

assessments, the most current available tax information shall be used. Property is currently in CAUV. If

purchaser removes the property from CAUV purchaser will be responsible for the payment of any CAUV tax

recoupment. New taxes may be established due to the creation of new parcels.

Tract Map and Acreage: All dimensions, proposed boundaries, and tract acreages are approximate and are

based on aerial photos and auditor information. Final surveyed acreages are subject to change by the closing of

the sale. All final prices will be established by multiplying the per acre price by the new surveyed acreage.

Mineral Rights: The sale will include 100% of the mineral rights, if any, owned by the seller.

Survey: The seller will provide a new survey and legal description if required by local governmental authority to

transfer title. If a new survey is created the sales price will be adjusted by the price per acre that is realized on

the day of the auction.

Agency: Dye Real Estate and Land Company, and its representatives, are sole agents for the seller.

Disclaimer and Absence of Warranties: All information contained in this brochure and all related materials are

subject to the terms and conditions in the purchase agreement. The properties are being sold “AS IS, WHERE IS”

with no warranty or representation, either expressed or implied, concerning the property is made by the Seller

or Dye Real Estate and Land Company. All sketches and dimensions in this brochure are approximate. Each

potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries,

and due diligence concerning the property. The information contained in this brochure is subject to verification

by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the seller or Dye Real

Estate and Land Company.

ANY ANNOUNCEMENTS DAY OF AUCTION TAKE PRECEDENCE OVER PRINTED MATERIAL. THE ABOVE TERMS

AND CONDITIONS ARE TO BE AN ADDENDUM TO THE PURCHASE CONTRACT.

Seller: Liberty Oaks Properties LLC

Auctioneer and Real Estate Broker: Devin Dye

Assisting Auctioneers: Mike Reindel and Matthew Bowers

Licensed and Bonded in favor of the State of Ohio.

American Legion Post 300
500 Glenwood Ave.
Napoleon, Ohio 43545
United States