SCHILLIG ESTATES AND AUCTIONS ONLINE AUCTION TERMS AND CONDITIONS
By registering for this auction you agree to the following TERMS & CONDITIONS:
ONLINE ONLY AUCTION: Property at 599 Glenmont Av., Columbus, OH 43214 is offered at online only auction that starts to close Tuesday, December 29, 2020 @ 3pm EST. The property will sell to the highest bidder with a minimum bid $100,000 (one hundred thousand dollars). A BUYER’S PREMIUM OF 10% (ten percent) of high bid will be applied to form the TOTAL PURCHASE PRICE.
Property is offered as is, where is with no warranty of any kind, expressed or implied, including merchantability and fitness for a particular use, subject to all restrictions, zoning and other matter of record. There will be no contingences for finance, inspection, or otherwise, except for a non-marketable title. THE PROPERTY IS BEING SOLD FREE AND CLEAR OF ALL LIENS. IF ANY LIENS ARE DISCOVERED THEY WILL BE PAID FROM THE SELLER’S PROCEEDS. Bidders shall perform their due diligence and rely on their own inspections and research and not upon any description by the auctioneer, owner, executor, or employees/agents of either. No liability for accuracy, omissions, or errors is assumed by the auctioneer/broker or their agents. All sales are final. No claims will be considered for allowance, adjustment or rescission of any sale based on the failure of the property to correspond to any standard or expectation.
PARTICIPATION IN THE AUCTION: Prior to registering Email this form, signed to: Cynthia@SchilligEstatesAndAuctions.com then.....
Load the Schillig Estates and Auctions phone App for mobile bidding
Go to www.SchilligEstatesAndAuctions.com and click on CURRENT AUCTIONS
CLICK ON THE AUCTION THAT YOU WANT TO BID ON
Register with name, address, phone #, email address
Submit a credit card to verify identity ($25 charge then reversed)
Create a PW (auctioneer cannot see)
Auctioneer will be notified to approve you and a bidding # will be sent
Start bidding (review terms and conditions again if needed)
Your identity is only the bidder number
Bidding starts at $100,000 with $5,000 (five thousand dollar) increments until we have a winner
You may place bids one by one or a MAX Bid that only the auctioneer sees
You will be notified by email if outbid. Bid again or set a new Max Bid
Auction begins to END 3pm EST Tues. Dec. 29
At 3pm the auctioneer will pause the bidding and join the auction remotely. Cynthia will go through the terms again and then restart the bidding where she left off with a $1000 increase with live “Bid Calling”. The 3 minuet extenstion will stop to give everyone the opportunity to bid until we all other bids stop and we have a last call for final bid. We will then have a WINNER. Step by step directions will be emailed to bidders and added to the documents tab. The live bid calling takes about 20 minuets.
PLEASE NOTE: Do not bid if you are unable to comply with the Purchase Contract, which must be executed immediately following the conclusion of the auction by electronic signature. A 10% (ten percent) of the total purchase price (high bid + the buyer premium) will be considered the earnest money and is NON REUNDABLE unless a clear and marketable cannot be delivered to the buyer. The earnest money will be applied at closing towards the purchase price. IF A LICENSED AGENT/BROKER REGISTERS AS A BIDDER WHO IS A PRINCIPAL IN THE TRANSACTION THEY WILL NOT RECEIVE A COMMISSION. THIS AUCTION IS TO REMAIN TRANSPARENT AND ALL TERMS ARE APPLIED TO ALL BIDDERS.
The earnest money must be wired to Coldwell Banker King Thompson Trust account by 3pm EST December 30, 2020. If the earnest money is not received you credit card will be charged .
CLOSING will occur on or before January 28, 2021 through Associates Title 1243 South High St. Columbus, OH 43206, 614-222-2123, Patrick McCray. The Wiring instructions will follow by email.
OCCUPANCY/POSSESSION: No one may enter or work on the property until after funding and closing.
TAX AND DEED: Buyer shall be responsible for transfer taxes, recording fee, title search and deed preparation. Seller shall be responsible for real estate taxes up to day of closing and shall deliver a marketable title. Buyer is responsible for all other costs associated with closing.
WARRANTY AND CONDITION OF PROPERTY: All property is offered “as is, where is”, with no warranty of any kind except for a marketable title, subject to all easements, restrictions, zoning, covenants and all other matters of record.
ARBITRATION: Any claim arising out of or relating to this contract and/or agreement or breach thereof, shall be settled by arbitration in accordance with t he Arbitration Rules of the American Arbitration Association. Venue will be Franklin county, OHIO.
LIABILITY: Auctioneer’s and seller’s liability shall be limited to th e refund of bidder’s payment. By registration of this auction, you specifically disclaim any other claim available in law or in equity.
DUE DILLEGENCE: Bidders shall rely on their own inspection and not upon description from the auctioneer, staff or agents. This real estate auction is to settle an Estate, therefore there are no disclosures. Bidders are permitted to inspect the property under the conditions that the inspection is completed at least 5 (five) days prior to auction closing (Dec. 29, 2020). No inspections after the auction closing. Inspection results cannot be conveyed to the auctioneer or the Executor since we are not licensed in those professions and cannot validate any findings if any.
LIENS: Property is being sold free and clear of liens however, the buyer may in performing their due diligence have the title searched again. If any liens are discovered they will be paid from the proceeds.
DAY OF SALE ANNOUNCMENTS: Announcements made day of auction take preced ence over any previous advertising or description. The auctioneer shall have the sole discretion to determine the increments of the auction and decisions as to the high bidder. The information contained on the website is subject to the inspection by all parties relying on it and no offer, contract, guarantee, expressed or implied is given on the information contained on the website. No liability for accuracy, omissions or errors is assumed by the auctioneer, owners or their agents. Bidder consents to receive any and all announcements by electronic mail as listed on the the bidder’s profile.
I AGREE TO THE TERMS OF THE AUCTION SET FORTH.________________________________________