A wonderful opportunity to purchase a complete farm or add to your current operation. First round of bidding for individual parcels only will Open March 29th. 9:00 a.m. Combination round will Open Tuesday March 31st. 9:00 a.m. Property Description: 14573 State Route 274 Botkins, Ohio. Current Shelby County Parcel #’s 10-05-10-400-003, 10-05-10-400-002 and 10-05-10-400-001. Being offered in 4 parcels subject to survey. See proposed Plat.
This Property is being offered via an Online Only Auction Event. Property will be offered as individual units or any combination. Bidding platform will open ___March 29th.___and end _April 1st._ at 2:00 P.M. register and place your bids at www.VASBID.com
AUCTION PROCEDURE: The above real estate will be sold to the highest bidder(s) subject to estate confirmation using the multi parcel auction method with a soft close. If a bid is placed within 10 minutes of the auction close, bidding will automatically be extended an additional 10 minutes and the last bidder will be notified via e-mail that they have been outbid. Bidding will remain open until all bids have remained silent for 10 minutes. Our system also offers a Max Bid or proxy bidding feature in which a bidder may enter their maximum bid and the computer will bid on their behalf in designated increments.
BUYER’S PREMIUM: A 4% buyer’s premium will be charged. This buyer’s premium will be added to the final high bid to determine contract price.
NOTIFICATION OF ACCEPTANCE OF OFFER: The successful bidder(s) will be notified via phone within 2 hours of the auction close if their bid has been accepted. The successful bidder(s) will be required to enter into a NON CONTINGENT MEMORANDUM OF AUCTION SALE AGREEMENT with the sellers within 24 hours of the auction close. This shall be completed at the auction office located at 135 South Wilkinson Ave. Sidney, Ohio. Your bidding is considered to be a binding contract.
DEPOSIT: $ 10,000.00 shall be required the day of the auction as good faith earnest money for each offered parcel. If one bidder purchases all parcels deposit shall be $ 40,000.00 This deposit shall be made payable to Western Ohio Title Agency and will be held in Escrow until closing at which time it will be returned to the buyer. If the buyer fails to perform per these terms the deposit will be forfeited and paid to seller.
TITLE: At closing the seller shall convey marketable title to the property free and clear of all liens and encumbrances in the form of a general warranty deed. If the seller’s title is found to be defective the seller shall have the right to remedy the defect within 60 days. If this cannot be done, then, at the option of the buyer, the deposit shall be returned and the auction sale terminated.
CLOSING: The full contract purchase price is due at closing which shall take place no later than May 15th. 2020. Closing shall be held at Western Ohio Title Agency Sidney, Ohio.
POSSESSION: Seller shall deliver possession to the property(s) at closing with the exception of Tract 1 considered the home site. Tract 1 possession 30 days after closing or with notification of vacancy by current tenant. All fixtures, personal property, as well as any and all debris remaining in the building(s) at the time of possession shall become the property and responsibility of the buyer(s). Neither the present owner nor auctioneers assume any responsibility for any remaining items located in or on the premises.
REAL ESTATE TAXES, UTILITIES: Real estate taxes and assessments shall be pro-rated to the day of closing. The seller shall pay all accrued utility bills to the date of possession by buyer(s). Any CAUV recoupment due to change in use shall be the responsibility of the buyer(s).
SECTION NINE – LEAD PAINT CONTINGENCY
Tract 1 Buyer waives all contingencies based upon a risk assessment or inspection of the Premises for the presence of lead-based paint and/or lead based paint hazards. And will receive the pamphlet Protect your family from lead in your home.
SALE CONTINGENCIES: Your agreement to purchase this property is subject to no contingencies of any type including financing.
AGENCY: Justin Vondenhuevel CAI as auctioneer and Gay Smith and Associates Realty are exclusive agents of the seller.
SURVEY: Current owner will provide a new survey if required by combination splits. If farm is sold as a whole unit a new survey will not be completed.
DISCLAIMER AND ABSENCE OF WARRANTIES: The property and all fixtures are being sold on an AS-IS WHERE IS BASIS with no warranty or representation, either expressed or implied, concerning the property by the sellers, Broker or auction Company. Buyers are responsible to perform all of their own inspections and have those results satisfactory to their expectations before bidding.
Owner: The Estate of Mary Edna Fullenkamp, Gary Fullenkamp Executor, Ralph Keister Attorney
Justin Vondenhuevel Auctioneer/ REALTOR
Gay Smith/Associates Realty Sidney, Ohio
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