Tract 1
5802 Ferris Rd, Eaton Rapids, MI 48827
P.P.#: 33-13-13-05-300-004
100A, 95.94A tillable
Ingham County, Onondaga Twp, Sect. 5
Property Class: 101 Ag-Imp
Zoning: Ag
School District: Eaton Rapids
Improvements:
1,944sf House, 2,160sf Pole Barn/Shop,
1,792sf General Purpose Barn. Built in 1900.
SEV: $164,300 (2014)
Taxable Value: $65,033 (2014)
Taxes: $2370.24 (2013)
Soils: Spinks/Brady Sandy Loam, Oshtemo
Sandy Loam & Gilford
Properties are sold subject to Tenant’s Rights. The 2015 growing crop (spelt) and harvesting rights belong to the tenant. Rent from this tenancy will go to the new buyer. Irrigation system (center pivot) belongs to the tenant.
Tract 2
P.P.#: 33-09-09-03-100-010
75.5A, 72.07A tillable
Ingham County, Aurelius Twp, Sect. 3
Property Class: 102 Ag-Vac
Zoning: A-2 Secondary A
School District: Mason
SEV: $83,600 (2014)
Taxable Value: $52,575 (2014)
Taxes: $2055.93 (2013)
Soils: Capac Loam,
Marlette Sandy Loam
Properties are sold subject to Tenant’s Rights. The 2015 growing crop (spelt) and harvesting rights belong to the tenant. Rent from this tenancy will go to the new buyer.
Tract 3
P.P.#: 33-13-13-18-400-023
29.4A, approx. 20A tillable
Ingham County, Onondaga Twp, Sect. 18
Property Class: 102 Ag-Vac
Zoning: Ag-Res
School District: Eaton Rapids
SEV: $41,500 (2014)
Taxable Value: $24,915 (2014)
Taxes: $971.93 (2013)
Soils: Owosso/Marlette Sandy Loam
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>
Once you place a bid, it cannot be removed, even if you have bid incorrectly. Please verify your bids before submitting.<br>
<br>
Bidding increments are as follows: <br>
<br>
$200 - $1000 = $25<br>
$1,000 - $10,000 = $100<br>
$10,000 - $25,000 = $500<br>
$25,000 - $500,000 = $1,000<br>
$500,000 - $1,000,000 = $5,000<br>
$1,000,000 and up = $10,000<br>
<br>
A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. Example: Final bid price on a property is $100,000. Add the 10% buyer’s premium of $10,000 to get a final price of $110,000. This is the actual sales price that will be used on the purchase agreement, and the number upon which transfer tax and title insurance are based. 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.<br>
<br>
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. <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, subject to harvest rights of tenant, 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. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test. <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). 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. <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. Properties are sold subject to Tenant’s Rights. The 2015 growing crop (spelt) and harvesting rights belong to the tenant. Rent from this tenancy will go to the new buyer. Irrigation system (center pivot) belongs to the tenant. Center pivot will be removed by tenant no later than 30 days past crop harvesting. Taxes and assessments will be pro-rated to the closing date. <br>
<br>
All rental units must comply with city building codes to obtain or keep occupancy permits. All expenses are the responsibility of the buyer.<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>
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.
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>
Once you place a bid, it cannot be removed, even if you have bid incorrectly. Please verify your bids before submitting.<br>
<br>
Bidding increments are as follows: <br>
<br>
$200 - $1000 = $25<br>
$1,000 - $10,000 = $100<br>
$10,000 - $25,000 = $500<br>
$25,000 - $500,000 = $1,000<br>
$500,000 - $1,000,000 = $5,000<br>
$1,000,000 and up = $10,000<br>
<br>
A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration when bidding. Example: Final bid price on a property is $100,000. Add the 10% buyer’s premium of $10,000 to get a final price of $110,000. This is the actual sales price that will be used on the purchase agreement, and the number upon which transfer tax and title insurance are based. 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.<br>
<br>
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. <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, subject to harvest rights of tenant, 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. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test. <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). 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. <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. Properties are sold subject to Tenant’s Rights. The 2015 growing crop (spelt) and harvesting rights belong to the tenant. Rent from this tenancy will go to the new buyer. Irrigation system (center pivot) belongs to the tenant. Center pivot will be removed by tenant no later than 30 days past crop harvesting. Taxes and assessments will be pro-rated to the closing date. <br>
<br>
All rental units must comply with city building codes to obtain or keep occupancy permits. All expenses are the responsibility of the buyer.<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>
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.