Real Estate Auction
58.37 Acres Vacant Land - Timber, Tillable and Recreational
Wednesday, July 18, 2018 at 6:30 p.m.
Property location: off Leavitt Road between Russia Road and State Route 113
Auction location: South Ridge Hall, 110 W. Main St., S. Amherst, OH
Property to be auctioned is in Amherst Township, Elyria address in Lorain County.
58.37 acres of vacant land consists of approx. 44+/- acres is heavily wooded and the remaining ground is tillable and currently fallow with no lease in place.
This rare offering is a total of 6 parcels selling as one, with standing timber, great recreational and hunting use with future development potential.
Located within minutes of Ohio turnpike and 35 miles to Cleveland. Visit our website or call agent for more information.
Agent on site July 10, 2018 from 4:00-6:00 p.m.
United Country Real Estate and Auction Services, LLC
740-965-1208 OR 614-206-1135
Seller: Henry C Marsico Trust - Daniel Marsico, Trustee
TERMS AND CONDITIONS
Pursuant to the pre-auction sale bills and applicable law, THESE TERMS AND CONDITIONS REPLACE AND SUPERSEDE ALL PRIOR TERMS AND CONDITIONS OF ANY NATURE, WHETHER WRITTEN, VERBAL, OR OTHERWISE. IT IS THE BIDDER’S RESPONSIBILITY TO BE FAMILIAR WITH THESE TERMS AND CONDITIONS. By registering for this auction and placing a bid, bidder acknowledges that these terms and conditions have been disclosed to bidder, and bidder agrees to be bound by these terms and conditions. Property sells subject to Trustee confirmation day of sale.
1. Buyer to pay a Ten percent (10%) NONREFUNDABLE down payment upon execution of the purchase agreement, to be applied on the purchase price at closing, or retained by Seller if the closing does not occur. Balance of purchase price is due in cash at closing which shall occur on or before September 3, 2018. Real estate taxes shall be prorated to the day of closing based upon the most recent available tax rate and valuation. Seller will not pay CAUV recoupment. Survey: A new survey will be provided by seller if necessary for transfer, otherwise a new survey will not be provided. The survey will be at the Sellers expense and any issues regarding the survey will be at the Seller’s discretion. Seller will pay for conveyance fee, Seller's portion of title agency closing fee not to exceed $150.00, and deed preparation only. Seller will pay no other closing costs. Seller to provide title commitment from Ohio First Land Title Agency, LLC if buyer desires title insurance on the property it will be at the buyer’s expense.
2. All real property and improvements are selling in their present “AS IS” condition with no warranties expressed or implied by Seller or Seller’s agent. No representations have been made by Seller or Seller’s agent with regard to fitness of the real property or improvements for a particular use or any particular Buyer’s development plans. It is Buyer’s responsibility to have any inspection Buyer desires completed prior to auction. It is the Buyer’s responsibility to pay for and obtain any and all due diligence inspections and inquiries as to feasibility of Buyer’s intended development plans prior to bidding. United Country Real Estate and Auction Services, LLC, and all agents associated, represent only the Seller in this transaction. Successful Buyers shall sign an agency disclosure form acknowledging that United Country Real Estate and Auction Services, LLC and its associated agents are working on behalf of the Seller.
3. All prospective Buyers who desire to participate in the auction must register the day of sale prior to bidding, and must then provide such personal information as requested by the auctioneer. Realtor cooperation is welcome; however, you must register your clients 48 hours prior to sale with an agency disclosure, show the property and attend the auction. Realtor cooperation fee is one (1%) if registered 48 hours prior to auction, cooperation fee is half a percent (½%) if registered less than 48 hours prior to auction. No exceptions.
4. Seller has specifically reserved the right to have the auctioneer determine the minimum bid advancement that will be accepted from all bidders. The auctioneers will handle any disputes at the time of the auction and all decisions will be final. The auctioneer, the seller and/or the attorney for the seller reserve the right to demand satisfactory written evidence of the authority of an agent to enter a bid or to execute a purchase contract on behalf of another party. This auction may be subject to online, phone or proxy bidding.
5. Successful bidder will be required to immediately execute the posted purchase contract, and deposit with the auctioneer the down payment described above. In case of conflict with these terms and conditions, the terms and conditions in the signed contract control the transaction.
6. Please view the posted title commitment for any questions on easements, rights of way, leases etc. Any reports, disclosures, letters or other documents from third parties are deemed reliable but not guaranteed by seller nor United County Real Estate and Auction Services LLC.
7. Any personal property left on the grounds of the real estate as of the date of closing becomes the property of the buyer of the real estate. Buyer will assume all responsibility and costs associated with these items as of the date of closing.
8. All mineral rights owned by seller will transfer at closing.
9. All information contained in this brochure and all related material came from sources deemed reliable but are not warranted by seller or auctioneers. Announcements made day of sale shall take precedence over printed material.
United Country Real Estate and Auction Services, LLC
BONDED – LICENSED BY THE OHIO DEPARTMENT OF AGRICULTURE