Land selling in two tracts, you may bid on each tract individually, or in combination.
Tract 1: 820+/- acres (frontage on CR 442, based on foresters survey)
Tract 2: 80+/- acres (access via easement to CR 442)
Sec. 7, 18, 19, Columbus Twp, Luce County; 4 miles north of McMillan, MI
Near DNR land & State Forest in the UP
Walkover inspections welcome, please WEAR ORANGE
Land Contract terms available: 40% down payment, balance amortized over 25 years, 5 year balloon payment, 6% interest. No timber harvest until land contract has been satisfied.
Land will sell subject to mineral rights reservation, with previous owners, dating back to 1965.
P.P.# 001-001-007-0410; 001-001-019-0100; 001-001-018-0110
SEV (2011): $132,400
Taxable Value (2011): $127,084
Taxes: $4019.59 (summer ’11); $668.91 (winter ’11)
Exhibit A<br>
Terms and Conditions of Online Only Real Estate Auction<br>
<br>
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.<br>
<br>
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 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.<br>
<br>
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).<br>
<br>
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.<br>
<br>
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.<br>
<br>
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.<br>
<br>
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. <br>
<br>
Seller(s) will provide an owner's policy of title and convey title with a Full Warranty Deed.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s).<br>
<br>
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. Land will sell subject to mineral rights reservation.<br>
<br>
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.<br>
<br>
A two percent (2%) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Sheridan Realty & Auction Co. twenty four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents to the Seller.
Terms and Conditions of Online Only Real Estate Auction<br>
<br>
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.<br>
<br>
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 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.<br>
<br>
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).<br>
<br>
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.<br>
<br>
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.<br>
<br>
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.<br>
<br>
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. <br>
<br>
Seller(s) will provide an owner's policy of title and convey title with a Full Warranty Deed.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s).<br>
<br>
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. Land will sell subject to mineral rights reservation.<br>
<br>
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.<br>
<br>
A two percent (2%) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Sheridan Realty & Auction Co. twenty four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents to the Seller.