Thank you for participating in this Online Auction Event. Outlined below are the Terms & Conditions of Sale. Please read them carefully. By placing a bid, you are acknowledging your acceptance of these Terms.Auction Firm: For the purposes of Terms of Sale, Gryphon Auction Group, Borror Inc., Richard F. Kruse, Auctioneer, Cushman & Wakefield, Zane Fry are collectively known as "Auction Firm".Inspection: The property will be available for inspection by appointment. Real estate brokers/agents may show by appointment following the registration of their prospective client with through the auction information portal at www.ecotcre.com. Registration: To obtain a buyer number for the real estate auction, the buyer must complete online registration with Auction Firm and agree, if the highest bidder, to tender a deposit of $50,000 with the Purchase & Sale Agreement and execute a Purchase & Sale Agreement for delivery to Auction Firm not later than the next business day following the conclusion of the auction. Be it understood that Auction Firm advises all potential buyers to seek legal counsel if for any reason they do not understand any part of the auctions TERMS and CONDITIONS.Agency: Auction Firm represents the Seller ONLY in this transaction. Other agents of Borror or Cushman & Wakefield may represent buyers and all registrants to the auction hereby consent to Dual Agency.Contracts: The successful bidder for the purchase of the real property shall sign and return all documents to Auction Firm on the next business day following the conclusion of the auction. Transmission may be by email to Richard F. Kruse, Auctioneer at [email protected]
or by contacting Auction Firm at 614-885-0020 to make arrangements for hand delivery in Columbus, Ohio.A copy of the Purchase and sale Agreement is available by contacting Richard F. Kruse, Auctioneer at [email protected]
, Zane Fry at [email protected]
or visiting our website at www.ecotcre.com. Deposits: A deposit in the amount of $50,000 will be collected from the high bidder by wire transfer to HBI Title not later than 5pm on the business day following conclusion of the auction. Buyers Premium: A Buyers Premium of 10% shall be added to the high bid at the close of bidding. The high bid plus buyers premium shall constitute the Total Contract Price paid by the Buyer to the Seller.Closing: Within forty five (45) calendar days following the date of Court Approval of the Auction. Closing shall occur through HBI Title or another Closing Agent of Sellers choosing. Seller shall pay title search fees, taxes through the date of closing and transfer tax. All other closing costs shall be paid by Buyer. At Closing, Buyer shall receive a fiduciary deed to the Property in transferable and recordable form. Possession: Buyer shall be entitled to possession at closing.Contingencies: The sale shall be subject to the review and approval of the Franklin County Court of Common Pleas overseeing the Receivership Case.Real Estate Brokers: Real estate brokers shall be paid a fee equal to 2% of the high bid amount provided that brokers register their buyers with Auction Firm prior to (a) any interaction between prospective bidder and Auction Firm and (b) the registration by prospective buyer for participation in the online auction. Broker Registration forms are available by contacting Richard F. Kruse, Auctioneer at [email protected]
, Zane Fry at [email protected]
or you may register at the auction website . www.ecotcre.com Condition of Sale: BUYER ACCEPTS THE PREMISES "AS-IS WHERE IS", WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND BY SELLER INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PREMISES. THE WARRANTIES EXCLUDE, BUT ARE NOT NECESSARILY LIMITED TO, FREEDOM FROM STRUCTURAL DEFECTS, CONSTRUCTION IN A WORKMANLIKE MANNER AND FITNESS FOR HABITATION. Jurisdictions: The respective rights and obligations of the parties with respect to the herein terms and conditions and the conduct of the Public Auction shall be governed and interpreted by the laws of the State of Ohio. By bidding at the Public Auction, whether present in person or by agent, by written bid, online or other means, the buyer shall be deemed to have consented to the jurisdiction of the Court. Any controversy or claim arising from or relating to the any purchase contract or incidental document associated therewith, or breach thereof, shall be determined and settled by the County Court of Common Pleas in Franklin County, Ohio.High Bidder Notification: At the conclusion of the auction winning bidders will receive an email advising of the item won as well as provided with an invoice for payment. Bidders will receive an email only and are responsible for checking your email account.BUYER BEWARE: By placing a bid, the bidder acknowledges that s/he has been provided an opportunity to conduct an inspection of the property and is entering into this agreement as the result of a thorough inspection, or acknowledged opportunity to inspect, of the property being purchased and in an AS-IS, WHERE-IS, and AS-INSPECTED condition with any and all faults. The above-stated Terms & Conditions of Sale cannot be altered except in writing by Richard F. Kruse, Auctioneer. By registering to bid, you agree that I have read and understand the previous terms and conditions.