This online only auction is subject to seller confirmation and is a cash sale not contingent on or subject to financing, appraisal, survey, perk tests, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate.

Once you place a bid, it cannot be removed, even if you have bid incorrectly. Please verify your bids before submitting.

Bidding increments are as follows:
$200 - $1000 = $25
$1,000 - $10,000 = $100
$10,000 - $25,000 = $500
$25,000 - $500,000 = $1,000
$500,000 - $1,000,000 = $5,000
$1,000,000 and up = $10,000

A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. Example: Final bid price on a property is $100,000. Add the 10% buyer’s premium of $10,000 to get a final price of $110,000. This is the actual sales price that will be used on the purchase agreement, and the number upon which transfer tax and title insurance are based. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Sheridan Realty & Auction Co. within Forty Eight (48) hours.

Successful Bidders will deposit 10% of the sale price in the form of a cashier’s check or wire transfer with Sheridan Realty & Auction Co. within Forty Eight (48) hours of the completion of the auction. The earnest money deposit is non-refundable. The entirety of the remaining balance is due at closing on or before Thirty (30) days from Auction Day. Purchaser will be responsible for all wire transfers.

Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, or as soon as the 2016 wheat crop is harvested. Closing fees charged by the Title Company are shared equally between Buyer(s) and Seller(s).

Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made, and could be additionally liable for any and all costs incurred by Seller and Sheridan Realty & Auction Co. incurred in a subsequent resale of the property.

Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, perk tests, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline.

Sheridan Realty & Auction Co. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Sheridan Realty & Auction Co. will reject the registration, and bidding activity will be terminated.

Buyer acknowledges they are buying property “as-is, where-is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection. Purchase is not contingent on satisfactory perk test results.

Seller(s) will provide an owner’s policy of title and convey title with a Full Warranty Deed.

Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s). Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller, or bid on behalf of the seller, if necessary.

Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. This property is rented and subject to Tenant’s Rights. The 2016 wheat crop belongs to tenant. There are no security deposits for any properties. Taxes and assessments will be pro-rated to the closing date by dividing the total tax bill by the acre, and recalculating by that factor. These taxes will be escrowed and paid in May 2016. The buyer will be responsible for the entire December tax bill as it’s reassessed by the Township/County.

Please note that the current property is a qualified agricultural property (PA260). This property is subject to the recapture tax provided in the agricultural property recapture act if the qualified agricultural property is converted by a change in use.

Drain assessments will be paid by seller.

If a new parcel is created and a land division is necessary, survey, ICRC safe driveway permit, perk test, well permit, and Delhi Land Division fees will be split between buyer and seller. If a buyer buys more than one tract, there will be a perimeter survey only. Property divisions have been preliminarily approved, but are subject to final approval of land division by Delhi Township. Any future divisions shall be allocated at closing at seller’s discretion.

All Sheridan Realty & Auction Co. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 pm receives a bid at 5:59 pm, the close time of the auction automatically extends to 6:05 pm. The auto-extend feature remains active until no further bids are received within the 5 minute time frame.

A two percent (2%) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Sheridan Realty & Auction Co. twenty four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility.

The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.

104+/- Acres, Harper Rd & Eifert Rd, Holt