Because Time is Always of the Essence

Because Time is Always of the Essence

8150 Warren Rd Elsie, MI Shiawassee County (78+/- Acres)

by Sheridan Realty & Auction Co.

When

Mar 29, 2012 - Online bidding ends at 12:00 PM Eastern

Where

Gary Gregor
8150 Warren Rd
Elsie, MI 48831

Notes

78+/- Acres offered in two (2) tracts.

Tract #1: 38+/- Acres 001-04-400-004
Tract #2: 40+/- Acres 001-04-400-003

Fairfield Township, Shiawassee County

26 marked trees on the property have been previously sold. Buyer agrees to let these trees be harvested, which will happen no later than April 28, 2013. Buyer will assume the sellers rights and position in the timber contract found in the file section of the website.

Open house March 20, 1-3pm

Contact Troy Crowe 989.666.6339 or Doug Sheridan 517.749.7976 for more information.

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Conducted By

Sheridan Realty & Auction Co.

740 S. Cedar St.
Mason, MI 48854

517.676.9800

http://www.sheridanauctionservice.com

Contact the Auctioneer

740 S. Cedar St.
Mason, MI 48854
517.676.9800

Auction Listing

Tract #1: 38+/- Acres 001-04-400-004
Taxes: $317.50 (Winter ’11); 189.43 (Summer ’11)
SEV (2011): $34,200
Taxable Value (2011): $16,876
 
Tract #2: 40+/- Acres 001-04-400-003
Taxes: $819.35 (Winter ’11); $488.84 (Summer ’11)
SEV (2011): $71,000
Taxable Value (2011): $43,547
 
26 marked trees on the property have been previously sold. Buyer agrees to let these trees be harvested, which will happen no later than April 28, 2013. Buyer will assume the sellers rights and position in the timber contract found in the file section of the website.
 
Exhibit A
Terms and Conditions of Online Only Real Estate Auction

This online only auction is subject to seller confirmation and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate.

A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Sheridan Realty & Auction Co. within Forty Eight (48) hours.

Successful Bidders will deposit 10% of the sale price in the form of a cashier’s check or wire transfer with Sheridan Realty & Auction Co. within Forty Eight (48) hours of the completion of the auction. The earnest money deposit is non-refundable. The entirety of the remaining balance is due at closing on or before Thirty Days (30) from Auction Day. Purchaser will be responsible for all wire transfers.

Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, and all closing fees charged by the Title Company are shared equally between Buyer(s) and Seller(s).

Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made, and could be additionally liable for any and all costs incurred by Seller and Sheridan Realty & Auction Co. incurred in a subsequent resale of the property.

Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline.

Sheridan Realty & Auction Co. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Sheridan Realty & Auction Co. will reject the registration, and bidding activity will be terminated.

Buyer acknowledges they are buying property “as-is, where-is”, without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test.

Seller(s) will provide an owner’s policy of title and convey title with a Full Warranty Deed.

Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s). Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller, or bid on behalf of the seller, if necessary.

Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date.

Purchasers wishing to begin field preparation and planting can do so with the understanding that any seed, fertilizer, fuel, and/or the 2012 growing crop will be forfeited if purchaser does not close in the allotted time.

26 marked trees on the property have been previously sold. Buyer agrees to let these trees be harvested, which will happen no later than April 28, 2013. Buyer will assume the seller's rights and position in the timber contract found in the file section of the website.

All Sheridan Realty & Auction Co. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 pm receives a bid at 5:59 pm, the close time of the auction automatically extends to 6:05 pm. The auto-extend feature remains active until no further bids are received within the 5 minute time frame.

The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.