SCHILLIG ESTATES AND AUCTIONS ONLINE AUCTION TERMS
By registering for this auction through the Schillig Estates And Auctions website/bidding platform, you agree to the following TERMS & CONDITIONS:
ONLINE ONLY AUCTION: Property is offered at online only auction through Schillig Estates And Auctions. A BUYER’S PREMIUM OF 10% (ten percent) of high bid will be applied to that high bid 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 contingencies for finance, inspection, or otherwise, except for a non- marketable title. SELLER SHALL BE RESPONSIBLE FOR PROPERTY TAXES UP TO THE DATE OF ACCEPTANCE OF THE OFFER. THE TAXES WILL BE PAID AT CLOSING FROM THE SELLER’S PROCEEDS. The winning bidder will pay all associated closing costs. 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:
To ensure you receive all alerts, Load the Schillig Estates and Auctions phone App on to your phone to register or bid (Free at the APP Store)
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 (Perform your due diligence and review terms and conditions again in their
Your identity is only the bidder number
Bidding will be in $2,000.00 increments
You may place bids one by one or a MAX Bid that only the auctioneer sees. The system will “bid” for you with the same preset increments as other bidders.
YOUR BID WILL NOT BE "PUSHED" TO YOUR MAX ONLY TO TE NEXT INCREMENT
You will be notified by email if outbid. Bid again or set a new Max Bid
Auction begins to END 3pm EST on Wed. June 8, 2021
Winning bidder will execute the purchase contract immediately following the auction byelectronic signature.
The $10,000 non-refundable (unless a marketable title cannot be issued) The deposit must be wired by 3pm Wed. June 9, 2021 to Coldwell Banker Realty. TIME IS OF THE ESSENCE. Wire instructions will be emailed to the winner following the conclusion of the auction
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 deposit of $10,000 will be considered the earnest money and is NON REFUNDABLE 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 OR SPOUSE OF AGENT/BROKER IN THIS TRANSACTION, YOU WILL NOT RECEIVE COMPENSATION. THIS AUCTION IS TO REMAIN TRANSPARENT AND ALL TERMS ARE TO BE APPLIED EQUALLY TO ALL BIDDERS.
The earnest money must be wired to Coldwell Banker Realty Trust account by 3pm EST June 9, 2021 TIME IS OF THE ESSENCE. If the earnest money is not received you credit card will be charged.
CLOSING will occur on or before 30 days after auction ending ( through Associates Title 1243 South High St. Columbus, OH 43206, 614-222-2123, ATTN: Patrick@associatestitleinc.com. CLOSINGS CAN BE DONE REMOTELY. The Wiring instructions will follow by email. TIME IS OF THE ESSENCE. No one may enter or work on the property until after funding and closing. 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.
ARBITRATION: Any and all claims relating to this contract shall be settled by arbitration in accordance with the Arbitration Rules of the American Arbitration Association. Venue will be Franklin county, OHIO.
LIABILITY: Auctioneer’s and seller’s liability shall be limited to the refund of bidder’s payment. By registration of this auction, you acknowlege and agree that no other claim can be made.
DUE DILIGENCE: 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. No inspections after the auction closing. Inspection results cannot be conveyed to the auctioneer or the Executor/administrator, since we are not licensed in those professions and cannot validate any findings if any. 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 prior to closing they will be paid from the proceeds.