Terms & Conditions:

PROCEDURE: The property will be offered at oral auction. There will be open bidding during the auction as determined by the Auctioneer.

DOWN PAYMENT: $1,500 down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cash, cashiers check, personal check or corporate check. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, & are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: The Successful Bidder will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. Seller reserves the right to reject any & all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a General Warranty Deed.

CLOSING: The balance of the purchase price is due at closing. The targeted closing date will be approximately 30 days after the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) & Seller.

POSSESSION: Possession shall be on day of closing, immediately following the closing. REAL ESTATE TAXES: The 2020 Real Estate taxes due in 2021 shall be pro-rated to the day of closing. Buyer to pay all taxes thereafter.

ACREAGE: The lot size, dimensions & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: A new perimeter survey shall be prepared only if necessary to complete Title Commitment. Seller & successful bidder shall each pay half (50:50) of the cost of any survey. The type of survey performed shall be at the Sellers option & sufficient for providing title insurance.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, & no warranty or representation, either express, or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction & increments of bidding are at the discretion of the Auctioneer. The Seller & Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED.