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Bidding extended on Open items for 10 minutes since last bid.
Category: AUCTION TERMS (18 records) Pesik Estate Online Land Auction (Shiawassee Co.) November 12th, 138 Acres in 2 Parcels - BIDDING OPEN NOVEMBER 5th THRU TUESDAY NOVEMBER 12th @ 6:00 P.M.

Item Photo Description Bids High
Bidder
Current
Amount
Next Bid
Required
Maximum
Bid
100 T100-1.jpgOnline Bidding: All bidding will be entered Online and is open to the public. Anyone can view the bidding. Bidders will be required to register for a bidder number unless they are already currently a registered bidder with Lotter Auction Service @ www.AuctioneersNow.com.  Lotter Auction Service reserves the right to reject a bid/bidder if believed to be in the best interest of the seller, or call a bidder at anytime during the auction to confirm the persons credentials.

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101 T101-1.jpg3% Buyers Premium: A 3% buyers premium will be added to the final bid price and become part of the purchase price.

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102 T102-1.jpgBIDDING EXTENSION: If there is Bidding Activity on an Item in the Last 10 Minutes before the Item Closes, Bidding Time will be Extended for 10 minutes. Bidding will Close on Each Item when there is no more bidding activity within the bidding extension (the bidding time 'countdown' is shown next to the bidding box on the last day of the Auction, When bidding is extended, the countdown clock turns Red.).

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103 T103-1.jpgInspection: Land walkover inspections can be conducted at any time, November 7th 12 Noon Thru 5:00 p.m. We will be available at the Lennon farm to answer questions on either property, to demonstrate the bidding process and to allow opportunity to inspect the home and buildings. Buyers should rely solely on their own investigation of the property and records prior to bidding on the property.         ended
104 T104-1.jpgAcreage: All acreages, dimensions and proposed boundaries are based on FSA Aerial Maps and current legal descriptions.

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105 T105-1.jpgAcceptance of Bid: The Seller has the right to a 24 hr. confirmation period to accept the offer following the auction. The high bidder will be called following the auction to determine a time to meet to sign the purchase agreement.

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106 T106-1.jpgEarnest Money Deposits: The successful bidder must deposit with the auctioneers the day following the auction earnest money deposits in the form of personal or business checks, cashiers checks, certified checks or cash in the following amounts: 5% deposit of high bid. Checks would be made out to the title company at closing. The deposits will apply to the purchase price at closing. Your bidding is NOT subject to obtaining financing. Deposits are non-refundable, so make sure your financing is arranged or you are capable of paying cash at closing.

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107 T107-1.jpgClosing: The closing will be handled by MID-STATE TITLE SERVICES INC. of Vassar, MI. The successful bidder will be required to sign the purchase agreement immediately following the auction. The earnest money deposit will be held by the title company. The balance of the purchase price will be due within 10 days of all paperwork being ready for closing but not later than 30 days after the auction.

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108 T108-1.jpgPossession: The Buyer will take possession of buildings at closing. Possession of land subject to the 2013 farm land lease.

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109 T109-1.jpgTitle: Seller shall provide an Owners Policy of Title Insurance to the purchaser.

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110 T110-1.pngTerms: Cash or Conventional Mortgage at closing.

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111 T111-1.jpgSurvey:  No survey will be provided by seller.

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112 T112-1.jpgDivision Rights & Mineral Rights: All division rights (splits) will transfer to the buyer.

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113 T113-1.jpgProperty Taxes: Taxes will be prorated to the date of closing per local custom. Per Michigan law, assessments may be uncapped and re-assessed.

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114 T114-1.jpgTransfer Taxes: State and County Transfer Taxes will be paid by the Seller.

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115 T115-1.jpgEasements: Sale of property is subject to any and all easements of record.

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116 T116-1.jpgAgency: Lotter Auction Service and its representatives are Exclusive Agents of the Seller.

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117 T117-1.jpgAnnouncements: Announcements made on the website will take precedence over printed and/or verbal statements. Information in the flyer and other printed materials has been obtained from sources deemed reliable but the seller and/or Lotter Auction Service makes no guarantees as to its accuracy. The real estate is being sold in the As-Is, Where-Is condition with no expressed or implied warranty of any kind.

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