Northern Ohio Real Estate Auction - 70± Acres in 4 Tracts

Terms & Conditions:

PROCEDURE:  The property will be offered in 4 individual tracts, any combination of tracts, and as a total 70± acre unit. There will be open bidding on the tracts and the entire property during the auction as determined by the auctioneer. Bids on individual tracts, tract combinations, and the total property may compete.

This auction will be conducted using the Multi-parcel Auction Method.  The definition of the “Multi-Parcel Auction” means any auction of real or personal property in which multiple parcels or lots are offered for sale in various amalgamations, including as individual parcels or lots, combinations of parcels or lots, and all parcels or lots as a whole.

DOWN PAYMENT:  A 10% down payment is required on the day of the auction. The down payment may be made in the form of cashier’s check, personal check, or corporate check.  YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING

ACCEPTANCE OF BID PRICES:  The successful bidder(s) will sign a Purchase Agreement at the conclusion of the auction.  All final bid prices are subject to Seller’s acceptance or rejection.

EVIDENCE OF TITLE:  The Seller will provide a preliminary title opinion, certificate, or report to be made available to prospective bidders for review prior to bidding.  If any Buyer elects to purchase title insurance, the cost thereof will be at such Buyer’s sole expense.  Seller will convey title free and clear of liens, but otherwise subject to all easements and matters of record.  All tracts sold “AS IS”.

DEED:  Appropriate deed will be delivered at closing.

CLOSING:  Closing will take place 45-60 days after auction date, or as soon thereafter as Seller’s applicable closing documents are completed.

POSSESSION:  Possession at closing with tenant’s rights to the 2023 crop year. Any and all income will be retained by the Seller.

REAL ESTATE TAXES: Seller will pay the 2023 real estate taxes due and payable in 2024. Buyer will pay 2024 real estate taxes due and payable in 2025 and thereafter.

TRACT MAPS; ACRES:  Tract maps, depicted boundaries, and stated acres are approximates based on county parcel data, current legal descriptions, and/or aerial mapping software and are not provided survey products.

SURVEY:  The Seller will provide a new survey only where there is no existing legal description sufficient to convey the Property or where new boundaries are created by the tract divisions in this auction for which legal descriptions do not exist. Any need for a new survey will be determined solely by the Seller. Seller and Buyer will each pay one-half of the cost of the survey. The type of survey performed will be at the Seller’s option and sufficient for conveyance of the Property. Combination purchases will receive a perimeter survey only.

EASEMENTS:  Sale of the property is subject to any and all easements of record.

MINERAL RIGHTS:  The sale will include 100% of the mineral rights (if any) owned by the Seller.

AGENCY:  The Wendt Group, Inc. and its representatives are exclusively the agents of the Seller.

AUCTION CONDUCT:  Conduct of the auction and increments of bidding are at the sole discretion of the Auctioneer.  The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc.  All decisions of the Auctioneer are final.

DISCLAIMER AND ABSENCE OF WARRANTIES:  All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the purchase agreement. ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the seller or the auction company. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auction company. The seller and auction company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the auction company are final.