Auction Terms & Conditions
This property is being sold at an online-only Public Auction. Property is sold AS-IS with NO warranty or guarantees of condition. Seller has provided a full inspection report from Sherlock Homes Inspection. If you can't open the file here please email and we will send you a copy at EDSIndiana@gmail.com. Any other inspections of the property must be completed PRIOR to close of auction.
Brokers/Realtors, you must register your bidder to receive the 2% Co-Op Commission on this sale. Please email EDSOnlineAuctions@gmail.com and we will email you the registration form. Bidders must be registered prior to bidding. All Bids must be placed directly by the registered buyer, not by the Agent representoing the buyer. Bids placed by an agent, for a buyer, will not be accepted and will be canceled. Realtors, if you are bidding on this property for your own portfolio please let us know by phone or email.
Auction opens at 8PM on Monday October 23rd, 2017 and closes with a soft close at 8PM on Tuesday November 14th, 2017. Bidding increments will be $500 dollars. Soft close means any bid placed with 5 minutes or less left in the auction will automatically extend the closing time by 5 minutes.
Bidding is by internet only. If you can't bid on-line, or if you have any questions about the process, please call us at 812-822-2508 or email EDSIndiana@gmail.com. Leave us a message 24 hours a day and we will return your call.
This Real Estate Auction has a $125,000.00 opening bid. This is also the reserve price. This means that once the opening bid is achieved, this property will sell without further reserve. This property will sell to the highest bidder. Also please remember there is NO BUYER'S PREMIUM. What you bid is what you pay with no add ons. Please email questions to EDSIndiana@gmail.com for more information.
The Auction company will contact the high bidder within 24 hours of the close of the Auction by phone. At this time Auction staff will set an appointment to meet with the buyer to sign documents and discuss the closing and deposit details. Deposit will be paid directly to Title Plus of Bloomington IN and must be paid by direct wire transfer within 72 hours of Auction close.
Winning bidder will be required to pay a $5,000.00 dollar non-refundable deposit within 72 hours of the close of the Auction. This deposit will only be refunded to the Buyer in the event seller is unable to provide a clean deed and is unable to close the property. Buyer is committing to being financially able to close on the property and is agreeing to the terms of the auction when a bid is submitted. Failure to close due to any fault of the buyer will result in the loss of the $5,000.00 deposit. Seller and Auctioneer will retain the deposit in lieu of damages. PLEASE DON"T BID UNLESS YOU CAN CLOSE.
The deposit of $5000.00 will be paid directly to Title Plus and will be held in their Escrow account until final closing date. Deposit will be credited to the final purchase price. Title Plus has completed a preliminary title search and committment, the property has no liens or encumbrances.
Closing will be scheduled within a maximum of 45 days or sooner from the close of the Auction.
Balance of the sale price will be due in full at closing. Seller will provide title insurance. Closing fee to be shared by the Buyer and Seller equally. Preliminary title work has been completed by Title Plus of Bloomington, Indiana. Property has no liens or encumbrances excluding Taxes & City Fees to be paid in full to date of closing.
Answers to Your Questions About Buying Real Estate & Personal Property at On-Line Auctions!
Buying a home or parcel of land at an Auction doesn't have to be a scary experience. If you have never bid in an On-Line Auction or purchased items at a Live Auction take a look at these facts:
" When you register, we ask for a credit card for verification. We will NEVER hit that card for your purchase or deposit. This is simply a tool to assure we are dealing with a legitimate buyer and identity.
" After the Auction is completed one of our staff will call you to either verify and collect payment for Personal Property Auctions, or set up an appointment to sign documents and collect a deposit for Real Estate Auctions.
" Your information is never used, sold or seen by anyone except our trusted financial staff.
" Your ID is never exposed to other buyers unless you want to bid that way. When you register simply choose a user name and ask that your ID be private and no one will ever know you are bidding.
" There are no shill bidders in our Auctions. A shill is a nefarious bid cast by an insider, either Auction staff, or even the Owner of the item being sold, to drive the price up. We will not tolerate this activity.
" All of the Real Estate we sell at Auction closes like any traditional Real Estate transaction at a local Title Company.
" We always try to provide a preliminary title commitment, showing the property is free of liens, or that the lien is a traditional loan or other encumbrance that will be paid at closing by the Seller.
" When possible, we will provide a Pre-Auction inspection of the property, providing an online copy of that document imbedded in the auction for you to view and print.
" Our Seller's always provide you with a clean Deed and Title Insurance.
" When we have a No-Reserve Auction that means if the bidding is opened at the starting price, the item will sell. An Absolute Auction means there is no high starting bid and no reserve. We often start our Real Estate auctions at the Minimum price a seller will accept.
" A Reserve Auction can mean two things. We try to set up our auction with only a minimum bid reserve. That means if the minimum bid is achieved, the property will sell. The second option is most often listed as subject to seller or court approval. In this type of Auction, regardless of how high the bidding goes, court or seller approval is required to accept the high bid. This option is an undisclosed reserve.
" Real Estate that sells "Final Bid is Subject to Owner or Court Approval", means just that. Though you may be the high bidder, if the amount isn't satisfactory to the owner, or if the court believes the price is not adequate to protect a party's interest, the property may not sell, even though you were the high bidder.
" As-Is and Without Warranty or Guarantee means just that. You are buying the property as it sets and there is no guarantee of any condition, inspection or other issue. Once you bid in this scenario you agree to accept the property As-Is and there is no backing out because of any issue.
" A Non-Refundable Deposit means that the deposit will be lost if you can't or won't close on the property. This applies only to Real Estate Auctions.
" In the event the Seller cannot produce clear title to the property or cannot close for any Seller reason, your deposit is refunded in full.
" Your deposit is given to the closing Title Company and held safely in their Escrow Account until day of final closing. Funds may have to wire transferred to the Title Company for Security.
" If you want to conduct an inspection on Real Estate, or if you need to borrow the money to buy Real Estate at Auction, contact us as soon as possible. We will work with you and your lender to accommodate any questions or needs you or they may have.
" You should never Bid on Real Estate at Auction if you have not worked out loan approval with your lender first. If you fail to close because you can't get your loan approved, you will lose your non-refundable deposit in full.
Sebae Data Solutions, Inc.
SERVICE TERMS AND CONDITIONS
ACCEPTANCE OF TERMS
Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap
USE AND REGISTRATION
Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).
DESCRIPTIONS OF SERVICE
Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections.
HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION
Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.
The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.
INTERNET ABSENTEE BIDDING
Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction.
Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live".
Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid.
When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels).
The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions.
Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration.
Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer
Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms.
The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal.
Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement.
The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers.
Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers.
THE WINNING BID
The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid.
NOTICE OF END OF SALE, PAYMENT & SHIPPING
After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions.
BUYER'S PREMIUM, TAXES AND DUTIES
If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it.
All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose.
SPECIAL ADMONITIONS FOR INTERNATIONAL USE
Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that:
a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected.
c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC.
LIMITATION OF LIABILITY
You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service.
EXCLUSIONS AND LIMITATIONS
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you.
You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.
You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items.
The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.