Auction Terms and Conditions
3663 Russia-Versailles Rd.
Court ordered On-Line Auction
Shelby County Case No. 16CV000130
Judge James Stevenson of the Common Pleas Court of Shelby County Ohio has ordered the Appointed Commissioner Justin Vondenhuevel to sell at On-Line Public Auction the following described real property to the highest bidder subject to court approval. Real property is located in Shelby County Ohio, Loramie Township. Shelby County Parcel #’s 27-25-18-200-001, 27-25-18-400-003, 27-25-07-400-004 to contain a total of 123.328 acres MOL with all improvements.
AUCTION PROCEDURE: First Round of On-Line bidding for Individual Tracts will open Sunday October 28th. NOON. Second Round Combination Bidding will Open Monday October 29th. with Auction Soft Close Wednesday October 31st. Auction will remain Open and Active until all bidding has remained silent for 15minutes. Should you require bidding assistance please contact the office at 937-492-1078 during normal business hours.
BUYER’S PREMIUM: A 4% buyer’s premium will be charged. This buyer’s premium will be added to the final high bid to determine contract price.
DEPOSIT: $ 20,000.00 per Tract/Parcel shall be required within 24 hours of the close of the auction as good faith earnest money. Payment shall be in the form of a Cashiers check. This deposit shall be made payable to Lawyers Title Agency Sidney, Ohio and will be held in Escrow until successful closing at which time it will be returned to the buyer.
ACCEPTANCE OF BID PRICES: The successful bidder will be required to enter into a NON CONTINGENT MEMORANDUM OF AUCTION SALE AGREEMENT with the court within 24hrs after close of the auction. This shall take place at Vondenhuevel Auctioneers LLC 135 South Wilkinson Ave. Sidney, Ohio 45365. Your bidding is considered to be a binding contract.
TITLE: At closing the court shall convey title to the property in the form of a Sheriff’s deed.
CLOSING: The full purchase price including buyer’s premium is due at closing which shall take place no later than 45 days following the conclusion of the auction. This closing shall take place at Lawyers Title Agency Courtview Center Sidney, Ohio
POSSESSION: Possession to the property shall be granted 30 days after closing. All fixtures, personal property, as well as any and all debris remaining in the building(s) at the time of possession shall become the property and responsibility of the purchaser. Neither the Court, present owners nor auctioneers assume any responsibility for any remaining items located in or on the premises.
REAL ESTATE TAXES/CONVEYANCE AND DEED STAMPS: Real estate taxes and assessments shall be pro-rated to the day of closing. Buyer shall pay all applicable conveyance fees and deed stamps as required for transfer.
SALE CONTINGENCIES: This property is being sold via COURT ORDER and is subject to No Contingencies of any type including financing.
DISCLAIMER AND ABSENCE OF WARRANTIES: The property and all fixtures are being sold on an AS-IS WHERE IS BASIS via a Court Order of Sale, with no warranty or representation, either expressed or implied, concerning the property by the Court, Commissioner or Auction Company. Buyers are responsible to perform due diligence and have those results satisfactory to their expectations before bidding.
Justin Vondenhuevel CAI Commissioner of Sale
Vondenhuevel Auctioneers LLC
937-538-6231
