Auction Terms & Conditions Tarter Realty, Auction & Appraisal Company (IN Auction License AU11400074) will offer this property for sale at public auction.
ONLINE REAL ESTATE AUCTION NOTICE - BUYER'S ARE TO FOLLOW WITH NO WAIVER. PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, DO NOT BID. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS.
AUCTION DATE(S): Bidding begins Thursday, December 15th 2022 @ 8:00 AM EST; Bidding closes: Thursday, December 15th 2022 @ 6:00 PM EST (**See AUCTION END TIMES).
SELLER: Edna Fields North, Deborah Smiley, and Diana Heshelman
LOCATION OF REAL ESTATE: TBD 400 N and 250 E, Ward Township, Randolph County, Indiana.
LEGAL DESCRIPTION: Below is a partial legal description, the full one will be provided at closing. E SW 35-21-14 40 A & E Sw 35-21-14 40 A (See Attached Exhibits)
* AT THE CONCLUSION OF THE AUCTION: All bidders who have registered for the online auction can call our office to receive a sample of an offer to purchase. The winning bidder or bidders will be emailed a Purchase Agreement to execute fully and correctly without any modifications. Bidder is to execute the Purchase Agreement by 3:00 PM of the day following the auction. Along with the executed contract, the winning bidder or bidders will be required to send the specified non-refundable earnest money deposit as stated herein. This non-refundable earnest money deposit will be held in escrow until closing and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms can be provided to the Buyer along with the contract after the auction. Purchaser shall be responsible for all wire transfer fees.
Successful bidders not executing the Purchase Agreement as specified herein and/or submitting the earnest money deposit by 3:00 PM the day after the auction will be considered in default. Such default by the winning bidder will result in that bidder’s liability to both the Seller and Tarter Realty Auction & Appraisal Company. Seller shall have the right to (a) declare this contractual agreement canceled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property and in such an event, the winning bidder shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Tarter Realty Auction & Appraisal Company. In addition, Tarter Realty Auction & Appraisal Company also reserves the right to recover any damages separately from the breach of the winning bidder.
The winning bidder shall indemnify Tarter Realty Auction & Appraisal Company for and hold harmless Tarter Realty Auction & Appraisal Company from any costs, losses, liabilities, or expenses, including attorney fees resulting from Tarter Realty Auction & Appraisal Company being named as a party to any legal action resulting from Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.
* ONLINE REGISTRATION: Registration for this online auction finalizes each bidder’s agreement to the terms and conditions of sale as stated herein as well as in the Purchase Agreement which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the Real Estate, all bidders must be signed in through www.bidtarter.com. There is no fee to register, but a valid credit card will be required to verify identity and ensure payment of the Earnest Money, if applicable. By bidding you are representing to Tarter Realty Auction & Appraisal Company and the Seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated, DO NOT BID or you will be bound by those terms and conditions. By bidding you agree to all disclosures.
* CONDUCT OF THE AUCTION: The Seller and Seller’s Agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, validity of the credit card, fitness to bid, financial ability to buy, etc. All decisions of the Auctioneer are final.
THE SALE WILL BE CONTROLLED BY THE AUCTIONFLEX/BIDOPIA SOFTWARE. Tarter Realty Auction & Appraisal Company is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid.
* BIDDING: Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved by the way of verified identity and credit card information. The bidding will be open for a time as determined by Tarter Realty Auction & Appraisal Company. The auction ends at a predetermined time with an Overtime Period, if necessary, which is defined as follows: if a bid is placed within five (5) minutes of the close of bidding, then another five (5) minute period commences from the time of the last bid until no bids are placed within the next five (5) minutes. The last bid shall be made final.
* AGENCY DISCLOSURE & GENERAL OFFICE POLICIES: Tarter Realty Auction & Appraisal Company will represent the Seller exclusively.
* DISCLAIMER & ABSENCE OF WARRANTIES: All information contained online or in the brochure and related material is subject to the terms and conditions outlined in the Purchase Agreement. The Property is being sold on an "AS IS, WHERE IS" basis. No warranty or representation, either expressed or implied, concerning the Property, its condition, or the condition of any other components on the Property, is made by the Seller or Tarter Realty Auction & Appraisal Company. All sketches and dimensions online or in the brochure are approximate. The information contained online or in the brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or Tarter Realty Auction & Appraisal Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to the conclusion of the sale. This should be done prior to the conclusion of the sale as any formal offers will have inspections waived by the Buyer.
* EARNEST MONEY: An Earnest Money deposit of 10% is due by 3:00 pm the day following the conclusion of the online auction. In the event the winning bidder fails to provide the Earnest Money, Tarter Realty Auction & Appraisal Company is authorized to charge the credit card for the amount of the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The Earnest Money will be totally forfeited in the event the Seller accepts the successful bidder's Purchase Agreement in writing and the successful bidder subsequently refuses to proceed to Closing.
The balance of the purchase price is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. No Buyer’s Premium will be required for this sale.
* TITLE POLICY: A preliminary title policy has been prepared by Empire Title, which will be preparing the final title policy plus conducting the Closing. Seller and Buyer agree to use Empire Title. The Sellers will provide an Owner's Title Insurance Policy to the Buyer(s). Each Buyer is responsible for a Lender's Policy, if needed.
* DEED: The Seller will provide a Warranty Deed at closing.
* EXECUTION OF PURCHASE AGREEMENT: The winning bidder(s) has earned the right to make an offer to the Seller; no sale has been completed. Seller reserves the right to reject any and all bids. The winning bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money by 3:00 pm the day following the conclusion of the online auction. The Earnest Money will be returned if Seller does not accept the successful bid. This Real Estate contract is not contingent on or subject to Buyer’s financing, appraisal, survey or inspections of any kind or any other contingencies.
* TAXES & ASSESSMENTS: The Seller will pay the November 2022 installment along with any applicable assessments for the same installment(s). Buyer shall be responsible for all taxes and assessments due and payment thereafter.
* GUARANTY: Any individual submitting a bid or signing the Purchase Agreement on behalf of any entity agrees to be individually bound by all these terms and conditions and individually responsible for payment of the Earnest Money and the balance due.
* SURVEY: The Sellers reserve the right to determine the need for and type of survey provided. If an existing legal description is adequate for title insurance for a tract or tracts, no new survey will be completed. If the existing legal description is not sufficient to obtain title insurance, a survey will be completed, the cost of which will be shared 50/50 by the Sellers and the Buyer(s). The Sellers will choose the type of survey to be completed and warrant that it will be sufficient to provide an owner's title insurance policy for the tract(s).
* CLOSING: Balance of the purchase price is due in cash at closing. The fee charged by the closing agent shall be paid equally by the parties. Seller and Buyer will each be responsible for what the local market considers their respective customary closing costs to sell/buy a property.
* POSSESSION: Possession of land to be given upon closing.
* ACREAGE: The acres listed in this brochure as well as any and all advertising are estimates taken from the county assessor's records, GIS website, FSA records, and/or aerial photos. All acreage amounts are estimates and are subject to survey.
* ZONING AND EASEMENTS: Property is being sold subject to any and all easements and restrictions of record. Property is subject to all state and local zoning ordinances
* CRP: Not applicable.
* MINERAL RIGHTS: All mineral rights owned by the Sellers will be conveyed to the Buyer(s).
* RESTRICTIVE COVENTANT: None noted.
* AERIAL PHOTOS, Images and Drawings are for illustration purposes only and not surveyed boundary lines unless specified.
* NEW DATA, CORRECTIONS, and CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
* PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigation, inquiries and due diligence concerning the property. Further, Sellers disclaim any and all responsibility for bidder's safety during any physical inspections of the property. No party shall be deemed to be invited to the property by the Seller or Tarter Realty, Auction & Appraisal Company.
* AUCTIONEER RESERVES: Auctioneer Reserves the right to make changes to an auction, cancel, suspend, or extend the auction event
STATEMENTS MADE BY AUCTIONEER WILL TAKE PRECEDENCE OVER PREVIOUS PRINTED MATERIALS OR ANY PREVIOUS ORAL STATEMENTS
All information advertised for this sale and any related materials are subject to the Terms and Conditions outlined in the packet. This information is subject to verification by all parties relying upon it. No liability for its accuracy, errors or omissions is assumed by the Sellers or Tarter Realty, Auction & Appraisal Company and/or their representatives. STATMENTS/ANNOUCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIALS 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 are made by the Sellers or Tarter Realty, Auction & Appraisal Company. Each prospective bidder is responsible for conducting his/her independent inspections, investigations, inquiries and due diligence concerning the property. Except for any express warranties set forth in the sale documents, Buyer(s) accepts the property “AS/IS” and Buyers(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Sellers and Tarter Realty, Auction & Appraisal Company make no warranty or representation, express or implied, or arising by operation of law, including any warranty for merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall the Sellers or Tarter Realty, Auction & Appraisal Company be liable for any consequential damages. Conduction of the auction and increments of bidding are at the discretion of Tarter Realty, Auction & Appraisal company and or the auctioneer. The Sellers and Tarter Realty, Auction & Appraisal Company reserve the right to preclude any person from bidding if there is any question as to the person's credential, fitness, etc. All decisions of Tarter Realty, Auction & Appraisal Company and/or the auctioneer are final.
Seller User Terms
Bidder User Terms