Auction Terms and Conditions
Sales Method: This property will be sold via the online only bidding format. The auction will start on September 27th @ 12:00 PM EST and end with a horserace finish on September 29th @ 8:00 PM EST. Horserace finish means there will be 10 minutes added to the end of the auction every time a bid is placed. The auction will end if no one bids and the time runs out.
Buyer Broker co-op: Buyers broker must register their buyer with Dye Real Estate and Land Company prior to the start of the auction to be eligible to receive 3% of the final sales price as a cooperating broker fee.
Reserve: Seller has the right to refuse the final bid if it does not meet their reserve. The reserve amount is not public knowledge and will not be disclosed to any party other than Dye Real Estate and Land Company and the seller.
Down Payment: $2,500 earnest money deposit due within 24 hours of the ending of the auction if you are the successful bidder. The down payment must be by certified bank check made payable to Dye Real Estate and Land Company.
Financing: Bidders’ must have their financing arranged prior to the auction. No bids are conditional upon financing.
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. You acknowledge that you are 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 yourself.
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 will 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: 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. The property is being sold “AS IS”.
Deed: Seller to provide a general warranty deed.
“AS IS”: This property is being sold “as is”. Seller has paid for and provided a home inspection that is available on the auction bidding site. Buyer is responsible for conducting his or her own inspections prior to the auction. Your bid is not conditional upon seller making any repairs or bank appraisal.
Closing: The balance of the purchase price is due at closing, which will take place within 40 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 upon closing.
Real Estate Taxes: Taxes will be prorated to the day of closing.
Tract Map, Acreage and Survey: All dimensions, proposed boundaries, and acreages are approximate and are based on aerial photos and auditor information.
Mineral Rights: The sale will include 100% of the mineral rights, if any, owned by the seller.
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 the marketing material 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 the marketing material 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.
THE ABOVE TERMS AND CONDITIONS ARE TO BE AN ADDENDUM TO THE PURCHASE CONTRACT.
Broker and Auctioneer: Devin Dye
Agent: Chad Wright
Licensed and Bonded in favor of the State of Ohio.