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ONLINE AUCTION TERMS AND CONDITIONS
Auction: The auction will be conducted as a timed ONLINE Auction. The auction will end at 7:00 PM on Wednesday September 20, 2017. You can participate in the bidding from your computer or mobile device by logging on and registering at www.AssetRealtyAdvisors.com.
Registration: All bidders must register with a valid credit card to participate in the auction.
Buyer Premium: A ten percent (10%) buyer premium will be added to the high bid amount to determine the full contract purchase amount to be paid by the buyer. The full purchase price for the real estate is defined as the sum of the final bid amount plus the ten percent (10%) buyer premium amount. For example, if the high bid amount is $60,000, the buyer premium would be $6,000 and the final contract price to be paid by the buyer would be $66,000.
Payment: A non refundable down payment of $5,000 is required at the auction conclusion. The down payment cannot be paid by credit card. The declared winning bidder must sign the Contract to Purchase at Online Auction, Agency Disclosure Statement, Residential Property Disclosure Form, Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards, and wire transfer the funds within 48 hours of being declared the winning bidder. The winning bidder should contact Cindy Chambers at 513.724.1133 for wiring instructions. Or the winning bidder can hand deliver the signed contract and forms listed above and a Cashiers Check for the down payment to Asset Realty Advisors located at, 278 N. Third St., Williamsburg, OH 45176 from 8AM to 5PM Monday thru Friday. If either the deposit or contract with ancillary paperwork is not received by September 22, 2017 at 7PM, the winning bidder agrees to allow an additional nonperformance charge of $5,000 to the credit card used in registration.
Limited Power of Attorney: By participating in the online auction, the winning bidder hereby grants to Asset Realty Advisors a Limited Power of Attorney (POA) only in a case of noncompliance with the terms by the bidder. Should winning bidder not sign and return the Contract to Purchase by September 22, 2017, winning bidder grants authority to Asset Realty Advisors to sign buyer’s name by POA creating a binding contract.
Collection and Attorney Fees: In the event Asset Realty Advisors has to engage counsel or collection companies to assist in enforcing any part of the auction terms and conditions or collection of all or part of the down payment or full purchase amount from any bidder, Buyer, or other such party, Buyer or other such party shall be responsible and agrees to pay for all reasonable fees including without limitation attorney fees, collection costs, and all expenses incurred by Asset Realty Advisors including without limitation costs and expenses relating to evaluating, analyzing, assessing, enforcing, preparing for and conducting litigation of any kind or nature, whether or not legal proceedings are commenced.
Property Inspections: All property inspections and other due diligence must be performed prior to bidding. The property is being sold in
as is, where is condition, with caveat emptor/all faults. I understand that my bid is treated as a cash sale with no contingencies
regarding financing or inspections. Inspections can be arranged by appointment with Asset Realty Advisors.
Closings/Possession/Taxes: Closing shall take place on or before and no later than October 20, 2017.The closing shall take place at a Buyer’s designated title company, attorney office, or bank, any of which shall prepare the closing statement for review and approval. In addition the location of the closing must be within 30 miles of the auctioned property location or approved by the seller. The real estate is selling free and clear of any and all liens. Buyer shall receive insurable title at closing. The property will be conveyed by Warranty Deed. Possession will be given to the purchaser at closing. Real Estate taxes will be pro-rated to the date of closing.
Agency: Asset Realty Advisors its agents and employees are acting exclusively as agent for the Seller.
By registering to bid the bidder acknowledges that they have reviewed the Contract to Purchase at Online Auction, Agency Disclosure Statement, Residential Property Disclosure Form, and the Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards pertaining to this auction/property.
Buyer Broker/Agent Co-Op Commission: A 2% buyer broker/agent commission is offered to any active Ohio licensed real estate broker/agent. Brokers/Agents must register their client with auction firm on auction firm approved forms prior to the client registering to bid on the auction firm’s web site.
278 N. Third Street Managing Auctioneer: Mark Euton
Williamsburg, OH 45176 Mobil Phone: 513-678-7347
AssetRealtyAdvisors.com Email: [email protected]
Office Phone: 513-724-1133