PROPERTY INFORMATION PACKAGE
PURPOSE: To provide Terms and Conditions of sale for the subject property.

LEGAL DESCRIPTION: .3168 Acres, Lamar County, Texas

Property ID: 91695 - Fairview Addn. Block 31, Lot PT of 15 & All of 16

ADDRESS:

1719 N Center St., Bonham,, Fannin County 75418-2605

SPECIFIC TERMS and CONDITIONS
Terms and Conditions of the sale may change. Certain requirements may vary from sale to sale. Such changes shall be considered specific terms of the sale. Specific terms and conditions may include, however not limited to the amount of Option Money Required, Escrow Deposits, Time to Close, Auctioneer Fees, Real Estate Brokerage Requirements. Other terms that apply to the property being offered. Such terms may change without individual notice. It is incumbent on the purchaser to read all terms and conditions prior to bidding or making an offer.

ORDER OF SALE
The Broker Auctioneer shall determine the order of sale and shall retain the right to schedule, reschedule or determine the platform and how the sale will be processed.

A property may be offered as a single property or the property may be divided into separate parcels. {*Most single-family homes would be offered in a single listing. Land may be divided into multiple tracts. *}
The method that produces the best offer to the seller will determine how this property sells. Property is selling subject to owner confirmation. Owners have initiated the liberty of bidding and may make adjustments accordingly. Seller has authorized to refuse bidding privileges to persons that do not qualify or to those that will not comply with bidding procedures.

PROCESSING of BIDS (OFFERS)
Broker Auctioneer under the direction of the seller may process bids (offers) submitted with proper qualifications that satisfy the sales process. Additional information may be found under the Bid Administration tab. Bids (Offers) may be subject to additional payments or fees such as auctioneers fee, buyer premiums, closing costs.

OPENING BID

Property ID: 91695
Total for .3168 Acres
An opening bid is required to initiate purchase rights. Bids (offers) may be lower than the suggested opening bid, however may not warrant suitable or acceptable requirements of the seller. All being subject to Multiple Offer Management. Opening bids or subsequent bids remain conditional.

PURCHASE AND SALE AGREEMENT (CONTRACT SAMPLE)
Will be available for review prior to bidding upon request. Purchaser will be required to execute and return immediately after the bid award along with required payments.

SALE TYPE - AGENCY
Seller Confirmation. Brokers - Auctioneers represent Sellers.

TAXES
Taxes currently due shall be prorated on the day of closing. Estimate Annual Taxes $_______________.

INSPECTIONS PREVIEW
Purchasers may conduct inspections Tuesday, March 23, 2021, 10:00 AM CST prior to sale date. Special requests considered. Text (469) 460-4848.

SALE DATE
Actual day the purchase and sale agreements or other contract documents are executed to confirm the sale bids are due no later than Tuesday, March 23 2021, 11:00 am. Subject to change at seller direction. Property may be sold prior to bid date without notice or announcement.

EXPECTATIONS
Purchasers are to inspect the property at their own expense. Escrow deposits in addition to closing costs, buyer's premium shall be the purchaser's responsibility. This transaction shall be non-contingent on financing. Close the transaction on or before Thursday, April 22, 2021.

BROKER PARTICIPATION
A duly qualified broker may be paid up to 3 % more or less commission based on the purchase amount at bid award with proper registration subject procuring cause rights. May be listed in the MLS or in special terms and conditions.

TERMS OF REAL ESTATE
The successful Purchaser(s) shall sign and return a real estate sales contract immediately after closing of bids or fully accepted offer, transfer by wire or certified funds, immediately after acceptance of offer. A 10% Buyer's Premium will be calculated the bid price on Real Estate then payable to Myers Jackson Licensed Broker, Auctioneer (LINKS LICENSE DISCLOSURES) immediately after confirmation and acceptance of offer. * All calculations are per contract.

Option Money 1%
Escrow Deposit 2%

CERTIFICATIONS
Purchaser(s) proof of payment will be certified by the Purchaser at closing. Certified funds will be required to bid in the amount for purchase including option money, escrow deposits and auction fee to be tendered on the day of execution of contract with proof of funds.

TITLE
Seller will warrant transfer of title. Purchaser(s) may purchase title insurance at purchaser's expense at the time of closing. Subject to exceptions, and Specific General Terms and Conditions.

OPTIONS
The Buyer may or may not propose an option period to purchase this property. Option money shall be paid at direction of the Seller. Extended option periods may increase the actual amount of option money paid. No option money is paid if option period is not requested.

ESCROW DEPOSIT
Money will be held at CAPITAL TITLE OF TEXAS, 1105 GLADE RD. STE. 200, COLLEYVILLE, TX 76034, Izzy Lane at (817) 916-8930. Earnest Money will be applied toward the purchase of property Auctioneers fee or option may belong to the Auctioneer and or Seller at the time of contract certifications. Appropriation of all funds shall be reflected on the closing document.

CLOSING
Time is of the essence this transaction shall close on or before Thursday, April 22, 2021. The balance of monies owed shall be made with funds with delivery notification 72 hours prior to closing.

APPRAISALS
Purchasers may conduct an independent appraisal prior to bid award.

DISCLOSURE
Additional disclosures may be available up request at MyersJackson.com and Acre.bid

AUTHENTICITY
The information shall be deemed true and correct; however, the purchaser shall be responsible for independent verification prior to bidding at purchaser's expense.

NOTABLE OBSERVATIONS
Subject Property: Compatible with the Neighborhood

Energy Source: Electric

Dimensions: Regular Conforming

Proximity: Average for Schools, Commerce, Employment

USE Zoning: Agriculture/Residential, Fannin County, Bonham, TX

Location: Fannin County, North Texas

Landscaping: Natural

Upgrades: Not Applicable

Physical Deficiencies: None Observed

Environment Impact: No Negative Impact Known

Neighborhood Boundaries: Fannin County

Market Conditions: Favorable

Overall Condition of the Property: Any observation shall not be meant to be any warranty of condition; no guarantee shall be made to the accuracy of the noted element. Property shall transfer by deed of record and any claims attached unless otherwise announced. Subject to Zoning, Planning, any government regulation as recorded at time of purchase.

PERSONAL PROPERTY
Personal property shall be considered a separate purchase and held separate from the sale of real property.


REGISTRATION
Each person participating in the sale or any person that wishes to attend an open house must register in advance of entry into the property all being subject to seller requirements of preferential invitation. Seller and Auctioneer will comply with all fair housing regulations; however, entry may be restricted based on the following: Registration may be subject to additional requirements. However, Broker Auctioneers may reduce, alter, amend requirements on a case by case basis.

Registration in writing, Myers Jackson Bidding Platform or other approved method.
Proper Statement of Funding and/or Proof of funds that show capabilities to purchase.
Agree to Conditions of Sale in advance of entering property: home or grounds.
Enter Factual Buyer information at https://acre.bid

HOW TO REGISTER AND BID ON-LINE
Logon to: https://acre.bid
Read, accept term and conditions
Enter factual buyers' information
Make the highest possible bid
Follow, check for additional bids
If awarded the bid, prepare to sign contract
Understand on-line bidding may be combined with live auctions

Commercial Building for sale in Bonham, Fannin County, Texas. 1 Story 923 sqft Information About Brokerage Service can be found at: myersjackson.com/texas-information-about-brokerage-services/ Final Inspection Auctioneers Will Be Live Onsite 10:00 AM CST Tuesday, March 23, 2021