ONLINE REAL ESTATE AUCTION NOTICE AND PROCEDURE
AUCTION DATE: Sunday, November 17, 2024
SELLER: Herman Family Farm
PROPERTY: 5001 SW State Road 116-1 Bluffton, IN 46714
LEGAL DESCRIPTION: PT W PT FRL SE S OF RIV SEC 28 (47.791A)
ONLINE REGISTRATION: DON'T BID UNTIL YOU HAVE READ THE TERMS AND CONDITIONS FOR THIS ONLINE AUCTION.
Registration for this auction finalizes each bidder's agreement to the terms and conditions of sale as stated in the Purchase Agreement which are incorporated by reference into your bidding. Registration is free, but a valid credit card is required to verify identity and ensure payment of earnest money, if applicable. By bidding you are representing to Green Auction, and the Seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated, DO NOT BID. By bidding you agree to all disclosures and are bound by the terms and conditions of this auction.
BIDDING: Bidding starts at the nominal Opening Bid(s) indicated and is open to all who are registered and approved by way of a verified identity and credit card information. The bidding will be open for a minimum of 10 days. The auction ends at a pre-determined time with an Overtime period, if necessary, which is defined as follows: If a bid is placed within five (5) minutes of the close of bidding, then another five (5) minute period commences from the time of the last bid. Until no bids are placed within the next five (5) minutes. The last bid shall be made final. If you are the winning bidder, YOU MUST CALL THE OFFICE MONDAY MORNING 260-589-8474 TO ARRANGE SIGNING PURCHASE AGREEMENT DOCUMENTS & SUBMIT EARNEST MONEY.
AGENCY DISCLOSURE & OFFICE POLICY: Green Auction will represent the Seller exclusively.
DISCLAIMER & ABSENCE OF WARRANTIES: All information contained online or in any auction related material is subject to the terms and conditions outlined in the Purchase Agreement. The Property is being sold on an "AS IS, WHERE IS" basis. No warranty or representation, either expressed or implied concerning the property, its condition, or the condition of any other components on the Property, is made by the Seller or Green Auction. Dimensions and drawings are approximate. No liability for accuracy, errors, or omissions is assumed by the Seller or Green Auction. Each bidder is responsible for verifying all information, and conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to bidding.
TERMS: Earnest Money of 5% to be provided in the form of a personal check from a local bank, cashier's check, or money order by the end of business on Monday, November 18, 2024. In the event the winning bidder fails to provide the Earnest Money withing 24 hours, Green Auction, is authorized to charge the credit card for the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The balance is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. All bids accepted on the Real Estate are subject to Seller's approval. There is NO buyer's premium for this auction.
EXECUTION OF PURCHASE AGREEMENT: The successful bidder has earned the right to make an offer to the Seller; no sale has been completed. The bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money by 5PM on Monday, November 18, 2024, personal check drawn on a local bank, a certified or cashier's check payable to Green Auction. Buyer's offer expires 11:59 pm seven (7) days after the online auction date, unless Seller timely accepts it. The Earnest Money will be returned if Seller does not accept the successful bid as a primary or secondary offer, subject to any required approvals.
TITLE POLICY: Seller will provide a title insurance policy, a good clean title. Seller reserves the right to chose the Title Company.
CONDITIONS: The property is being sold for cash. No offer shall be accepted that is contingent upon financing. In the event the Seller accepts the successful bidder's Purchase Agreement in writing, and the successful bidder later refuses or is unable to proceed to closing then the Earnest Money shall be forfeited in its entirety.
TAXES: New buyer will assume taxes in the Spring of 2025. The seller shall pay real estate taxes which are payable during the year in which the closing occurs. The buyer shall assume and pay all subsequent taxes. If at the time of closing the tax bill for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax bill available to the closing agent. The succeeding year's tax bill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax bill available to the closing agent.
GAURENTY: Any individual submitting a bid or signing the Purchase Agreement on behalf of any entity agrees to individually be bound by all terms and conditions and individually be responsible for payment of the Earnest Money and balance due. This is a public auction meaning anyone with valid credentials may bid on the property this may include family, attorney, auction staff or auctioneers.
POSSESSION: The possession of the Property shall be upon closing.
SURVEY: The Seller has a legal description for the property so no survey will be provided. If a survey is requested, it will be paid for by the Buyer.
CLOSING: Balance of the purchase price is due in cash at closing, which will take place within 30 days after the acceptance date. Any extension must be agreed upon by both parties. The fee charged by any closing agent, including an attorney acting as a closing agent for both parties, and Buyer's lender acting in such capacity, for closing services shall be paid equally by the parties.
AUCTIONEER RESERVES: Auctioneer Reserves the right to make changes to the auction, cancel, suspend, or extend the auction event.
CONDUCT OF THE AUCTION: The Seller and selling agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, validity of the credit card, fitness to bid, financial ability to buy, etc. Green Auction is not responsible for software malfunctions or system errors of any kind. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. All decisions of the Auctioneer are final.
NOTE: Neither the Seller nor Green Auction is responsible for any personal property left in the residence and buildings, or on the land after the Real Estate possession is granted to Buyer and will be inherited by the new buyer.
STATEMENTS MADE BY AUCTIONEER WILL TAKE PRECEDENCE OVER PREVIOUS PRINTED MATERIALS OR ANY PREVIOUS ORAL STATEMENTS