ONLINE REAL ESTATE AUCTION TERMS & CONDITIONS:

1.     Online Bidding – All bidding will be done Online and is open to the public @ www.BidNow.us.  Anyone can watch the bidding throughout the 12-day auction period.  Bidders will be required to register for a bidder number unless they are already a current online registered bidder @ www.BidNow.us.  Albrecht Auction reserves the right to call a bidder at any time during the auction to question the person’s credentials.  Albrecht Auction reserves the right to reject a bid/bidder if believed to be in the best interest of the Seller.

2.     5% Buyer’s Premium:  A 5% buyer’s premium will be added to the final bid price and become part of the purchase price.

3.     Phone Bidding:  This is an Online Auction but buyers can place bids over the phone w/ Albrecht Auction if they have made prior arrangements. You can also make arrangements to bid on our computers at the office in Vassar on Tuesday, September 12^th while the Auction is closing at 5:00 p.m.  Call for Details 989.823.8835 and ask for Dave or Drew.

4.     As-Is Where-Is:  The real estate is being sold in the ‘As-Is, Where-Is’ condition with no expressed or implied warranty of any kind.  All inspections must be done prior to bidding.  An official wetlands determination has not been completed and would be necessary before attempting to build on this parcel.

5.     Earnest Money Deposits:  The successful bidder must deposit within 48 hours the earnest money deposit in the form of personal or business check, cashier’s check or certified check in the following amount: 10% deposit of high bid. The deposit will apply to the purchase price at closing.  Your bidding is “NOT” subject to obtaining financing.  Deposits are non-refundable, so make sure your financing is arranged or you are capable of paying cash at closing.  

6.     Closing:  The closing will be handled by United Title of Bad Axe, MI.  The successful bidder will be required to sign the purchase agreement immediately upon acceptance of offer.  The 10% earnest money deposit will be held by the title company.  The title company closing fee will be shared between the buyer and seller.  Closing to be within 45 days following the auction or as soon thereafter as applicable closing documents have been completed.   Note: If you need more than 45 days to close, please call to discuss prior to bidding.  Call Dave or Drew @ 989.823.8835.

7.     Possession: Possession at closing.  Ground can be worked prior to closing per agreement with Seller.

8.     Title:  Seller shall provide an Owner’s Policy of Title Insurance to the purchaser.

9.     Terms:  Cash or Conventional Mortgage at closing.

10.  Acreage:  All acreages, dimensions and boundaries are based on aerial photos and legal descriptions.

11.  Survey: If a survey is performed by the Buyer and acreage amounts change, it will not affect the sale price. The land is being sold by the parcel, not by the acre.

12.  Division Rights - Mineral Rights: All division rights (splits) will transfer to the buyer. All mineral rights owned will transfer to the buyer. 

13.  Property Taxes:  Will be prorated in arrears based on a calendar year.  Any special assessments would be assumed by buyer.

14.  Transfer Taxes:  State and County Transfer Taxes will be paid by the Seller.

15.  Easements: Sale of property is subject to any and all easements of record. 

16.  Agency:  Albrecht Auction Service, LLC and its representatives are Exclusive Agents of the Seller.

17.  Announcements:  Announcements made on the website will take precedence over printed and/or verbal statements.   Information in the flyer and other printed materials has been obtained from sources deemed reliable but the seller and/or Albrecht Auction Service, LLC makes no guarantees as to its accuracy.    The seller, broker and auction company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc.  All decisions of the auction company are final.  If there would be a malfunction with the server which hosts the online auction, Albrecht Auction reserves the right to extend the auction until the problem is corrected.

18.  It is illegal to discriminate against any person because of religion, handicap, race, sex, family status or national origin.

5% Buyer’s Premium:  A 5% buyer’s premium will be added to the final bid price and become part of the purchase price.

Location:  Located in Section 16 of Verona Twp., Huron Co., MI. NE ¼ of NW ¼ of Section 16., Bad Axe, Michigan 48413.  Parcel #27-016-005-00.   SEV:  $63,100. Property Class: 402 Residential, Vacant.

Directions:  Approx. 1 Mile North of Bad Axe on M53 to Learman Rd., then East 2¼ Miles on Learman Rd. to property.  Approx. Address for GPS:  1700 Learman Rd., Bad Axe, MI.