Real Estate: 55+/-A in 3 tracts
Washtenaw County
Augusta Twp, Sect. 16
Lincoln Consolidated Schools
Tract 1: 27± acres
Parcel ID: T-20-16-200-019
SEV: $209,300 (2015)
Taxable Value: $204,673 (2015)
Taxes: $10,624.37 (2014)
Zoning: 101 Agricultural
Tract 2: 18± acres
Parcel ID: T-20-16-200-015
SEV: $711,200 (2015
Taxable Value: $585,507 (2015)
Taxes: $18,789.65 (2014)
Zoning: 101 Agricultural
Tract 3: 10± acres
Parcel ID: T-20-16-100-039
SEV: $32,400 (2015)
Taxable Value: $11,169 (2015)
Taxes: $889.60 (2014)
Zoning: 402 Residential Vacant
Closing on real estate on or before 60 days from date of auction.
PERSONAL PROPERTY TERMS<br>
A Buyer's Premium of 10% is added to the high bid. Please take this into consideration when bidding. Bid price + buyer premium = sale price. <br>
<br>
All items to be picked up Monday, August 17, 10am-2pm at 7474 Judd Rd, Ypsilanti. Building tear-down/removal will be 90 days, but everything must be paid for on load out day. The cost of the tear-down/removal is the responsibility of the buyer. <br>
<br>
If you have large items or need help loading your lot(s), you MUST bring your own help to the load out.<br>
<br>
All purchases must be paid for in U.S. funds at load out. Cash, Visa, MasterCard, American Express, Discover, or good personal checks (w/bank letter if over $5000) are accepted. Should you choose to pay with a credit card, you will be charged an additional 3% handling fee.<br>
<br>
No item is to be removed from the auction site until full settlement arrangements have been made. Auction Company and/or sellers not responsible for accidents on auction/load out day, or accidents involving machinery or items after sold.<br>
<br>
All sales are FINAL- no refunds.<br>
<br>
All titled vehicles subject to 6% Michigan sales tax (calculated based on sale price), $75 broker fee, and $15 title transfer fee.<br>
<br>
All Sheridan Realty & Auction Co. Online Only Auctions are timed events that have an auto-extend feature. Any bid placed on an item within 5 minutes of the auction ending will automatically extend the auction for 5 minutes on that item. 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 on a per-item basis until no further bids are received within the 5 minute time frame.<br>
<br>
Bidding increments are as follows: <br>
$0 - $200 = $5<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>
All items sold AS IS, WHERE IS with all faults and without warranty expressed or implied. Sheridan Realty & Auction Co. is not responsible for any missing or incorrect listing information. We have attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by the auction company are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have either personally inspected the items being sold, hired an agent to inspect the items being sold or waive your right to inspect the items being sold. By placing a bid, this creates a contractual agreement to purchase the items being sold at the high bid price plus Buyers Premium and any additional fees. <br>
<br>
Sale on all items is subject to seller approval. Auction company reserves the right to confirm the sale with the seller, and bid on behalf of the seller, if necessary. Items may have reserves that may or may not be noted.<br>
<br>
Items must be removed at load out unless other arrangements have been made. If you do not come to the load out, we reserve the right to charge your credit card for the high bid price, plus buyer premium and any other fees associated with the item.<br>
<br>
The successful bidder not attempting to settle their invoice after the conclusion of the auction will be considered in default and will be black flagged in our database. Sheridan Realty & Auction Co. reserves the right to sell to the next highest qualified bidder in the event the successful high bidder does not comply with the terms of the sale. By bidding on the items in the auction, the buyer agrees to all terms and conditions set forth. By registering and placing a bid you agree that if you happen to become a default bidder, Sheridan Realty & Auction Co. has the right to charge your credit card for the entire balance of your invoice, plus any and all costs incurred by the seller and Sheridan Realty & Auction Co. in a subsequent resell of the item(s). If Sheridan Realty & Auction Co. is able to sell your item to the next highest qualified bidder at a price lower than the auction high bid price, the default bidder agrees to allow Sheridan Realty & Auction Co. to charge their credit card for the difference in their high bid price and the actual selling price to the backup bidder. <br>
<br>
During this auction process there is a chance that you will be outbid. At that time you will receive an outbid notification by email. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, sometimes email notifications can be delayed. We are not responsible for the failure of any part of the bidding process or internet bidding. <br>
<br>
If you are bidding against someone who has placed a max bid in the system, the max bid that is placed first will take precedence over a bid placed after. This means that the person who placed the bid first will have the high bid, in the event that the same bid is placed. <br>
<br>
Sheridan Realty & Auction Co. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Sheridan Realty & Auction Co. or the Seller. <br>
<br>
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Sheridan Realty & Auction Co., MarkNet Alliance and the Seller reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Sheridan Realty & Auction Co., MarkNet Alliance or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary. <br>
<br>
Your use of this site and bid placement constitutes your acceptance and agreement to adhere to these terms. Please print a copy for your records. All bidders are responsible for reading all terms and conditions carefully. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations.<br>
<br>
Sheridan Realty & Auction Co. reserves the right to revise The Terms and Conditions.<br>
<br>
REAL ESTATE TERMS<br>
Exhibit A<br>
Terms and Conditions of Online Only Real Estate Auction<br>
This online only auction is subject to seller/lender 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>
$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 Sixty (60) days 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 Sixty (60) 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. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test.<br>
<br>
Successful buyer of Tract 1 acknowledges that they will assume responsibility for 1/3 drain basin electric and maintenance costs. <br>
<br>
All tracts sell subject to land division approval and recent boundary updates per survey. Sale is subject to lender approval, which could take 7 days for confirmation. <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 that are rented are subject to Tenant’s Rights. There are no security deposits for any properties. 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.
A Buyer's Premium of 10% is added to the high bid. Please take this into consideration when bidding. Bid price + buyer premium = sale price. <br>
<br>
All items to be picked up Monday, August 17, 10am-2pm at 7474 Judd Rd, Ypsilanti. Building tear-down/removal will be 90 days, but everything must be paid for on load out day. The cost of the tear-down/removal is the responsibility of the buyer. <br>
<br>
If you have large items or need help loading your lot(s), you MUST bring your own help to the load out.<br>
<br>
All purchases must be paid for in U.S. funds at load out. Cash, Visa, MasterCard, American Express, Discover, or good personal checks (w/bank letter if over $5000) are accepted. Should you choose to pay with a credit card, you will be charged an additional 3% handling fee.<br>
<br>
No item is to be removed from the auction site until full settlement arrangements have been made. Auction Company and/or sellers not responsible for accidents on auction/load out day, or accidents involving machinery or items after sold.<br>
<br>
All sales are FINAL- no refunds.<br>
<br>
All titled vehicles subject to 6% Michigan sales tax (calculated based on sale price), $75 broker fee, and $15 title transfer fee.<br>
<br>
All Sheridan Realty & Auction Co. Online Only Auctions are timed events that have an auto-extend feature. Any bid placed on an item within 5 minutes of the auction ending will automatically extend the auction for 5 minutes on that item. 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 on a per-item basis until no further bids are received within the 5 minute time frame.<br>
<br>
Bidding increments are as follows: <br>
$0 - $200 = $5<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>
All items sold AS IS, WHERE IS with all faults and without warranty expressed or implied. Sheridan Realty & Auction Co. is not responsible for any missing or incorrect listing information. We have attempted to provide accurate descriptions. However, it is the bidder's responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by the auction company are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have either personally inspected the items being sold, hired an agent to inspect the items being sold or waive your right to inspect the items being sold. By placing a bid, this creates a contractual agreement to purchase the items being sold at the high bid price plus Buyers Premium and any additional fees. <br>
<br>
Sale on all items is subject to seller approval. Auction company reserves the right to confirm the sale with the seller, and bid on behalf of the seller, if necessary. Items may have reserves that may or may not be noted.<br>
<br>
Items must be removed at load out unless other arrangements have been made. If you do not come to the load out, we reserve the right to charge your credit card for the high bid price, plus buyer premium and any other fees associated with the item.<br>
<br>
The successful bidder not attempting to settle their invoice after the conclusion of the auction will be considered in default and will be black flagged in our database. Sheridan Realty & Auction Co. reserves the right to sell to the next highest qualified bidder in the event the successful high bidder does not comply with the terms of the sale. By bidding on the items in the auction, the buyer agrees to all terms and conditions set forth. By registering and placing a bid you agree that if you happen to become a default bidder, Sheridan Realty & Auction Co. has the right to charge your credit card for the entire balance of your invoice, plus any and all costs incurred by the seller and Sheridan Realty & Auction Co. in a subsequent resell of the item(s). If Sheridan Realty & Auction Co. is able to sell your item to the next highest qualified bidder at a price lower than the auction high bid price, the default bidder agrees to allow Sheridan Realty & Auction Co. to charge their credit card for the difference in their high bid price and the actual selling price to the backup bidder. <br>
<br>
During this auction process there is a chance that you will be outbid. At that time you will receive an outbid notification by email. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections/speed, sometimes email notifications can be delayed. We are not responsible for the failure of any part of the bidding process or internet bidding. <br>
<br>
If you are bidding against someone who has placed a max bid in the system, the max bid that is placed first will take precedence over a bid placed after. This means that the person who placed the bid first will have the high bid, in the event that the same bid is placed. <br>
<br>
Sheridan Realty & Auction Co. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and convenience of Sheridan Realty & Auction Co. or the Seller. <br>
<br>
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Sheridan Realty & Auction Co., MarkNet Alliance and the Seller reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Sheridan Realty & Auction Co., MarkNet Alliance or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary. <br>
<br>
Your use of this site and bid placement constitutes your acceptance and agreement to adhere to these terms. Please print a copy for your records. All bidders are responsible for reading all terms and conditions carefully. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations.<br>
<br>
Sheridan Realty & Auction Co. reserves the right to revise The Terms and Conditions.<br>
<br>
REAL ESTATE TERMS<br>
Exhibit A<br>
Terms and Conditions of Online Only Real Estate Auction<br>
This online only auction is subject to seller/lender 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>
$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 Sixty (60) days 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 Sixty (60) 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. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test.<br>
<br>
Successful buyer of Tract 1 acknowledges that they will assume responsibility for 1/3 drain basin electric and maintenance costs. <br>
<br>
All tracts sell subject to land division approval and recent boundary updates per survey. Sale is subject to lender approval, which could take 7 days for confirmation. <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 that are rented are subject to Tenant’s Rights. There are no security deposits for any properties. 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.