Live Real Estate Auction

Tuesday, January 16, 2024 at 4pm.

Live Auction will be conducted at a Separate Location and NOT at the Property Address. The Live Auction for this Property will be Held at Wolf’s Wine Company, 50738 State Route 113, Amherst, Ohio 44001. Doors will open at 3:15pm for Registration and Auction will Begin at 4pm.   

3102 State Road Vermilion, Ohio is Being Offered at Live Public Auction. This “Fixer-Upper” Vermilion 2,054sqft Ranch Was built in 1964 on 0.44 Acre (Lot 100x200) and Has 3 Bedrooms, 1 Full Bath and 1 Half Bath, Living room with Gas Fireplace, Kitchen, Eating Area, Laundry/Mud Room, A family Room Area with Wood Burner, Attached Green House, an attached 2 Car Garage with Extra Storage Space on the Back, Enclosed Back Porch/Seating Area, and a Large Storage Shed.  The Current Home Owners Replaced the Hot Water Tank  August of 2017,  New Roof in April of 2022, and New Forced Air Gas Furnace Was Just Installed January 2024. Public Water. Aeration Tank Sewer. Vermilion Local School District. 2022 Full Year Taxes $1,839.46.   

OPEN HOUSE & INSPECTION: Property Available for Viewing at OPEN Houses Scheduled for Wednesday  January 10, 2024, 4pm to 6pm And Saturday January 13, 2024, 1pm to 3pm with Agent/Auctioneer Onsite. OR, by Scheduled Viewing with your own Real Estate Agent. Real Estate Agents, please call Warner L. McConaughey Realtor/Auctioneer King Realty at 440-554-9853 for Scheduled Showings and Lock Box Information. Potential Buyers will be permitted to Obtain Inspections at Their Own Expense. Any and All Inspections must be scheduled with the Real Estate Agent/Auctioneer Directly and Completed No Later than 24 Hours before the Beginning of the Live Auction.

Warner L. McConaughey Auctioneer/Realtor

Ohio Auctioneer Lic#2015000143

Ohio Real Estate Lic#SAL2019005080

**Auction Terms & Conditions for 3102 State Rd., Vermilion, Ohio 44089**

Real Estate Auction Terms & Conditions

*Live In Person ONLY Bidding

*Bidder Registration: All bidders are required to be registered to bid in this Real Estate Auction. To Register for this Auction all bidders Must Provide A Valid State ID, and a Current Phone Number.

*Buyers Contract: All Real Estate is sold "AS-IS, WHERE-IS" with no warranty, guarantee, or Contingencies expressed or Implied of any kind. The Seller(s) WILL NOT make any Repairs, or Provisions for any repairs to this Property What-so-ever. A bid is a legal binding contract. Buyers are responsible for honoring their purchases. There are and will be no financing contingencies.

*Required Deposit: $10,000.00 shall be deposited by the purchaser Within 24 Hours of the Auction Bidding Being Closed as a non-refundable down payment, via wire transfer Only to Network Land Title Agency, 105 Cleveland Street Ste. 200, Elyria, Ohio 44035. This non-refundable down payment will be applied to the purchase price at closing and will be held in the trust account of Network Land Title Agency. Wire Transfer Information will be provided to the Purchaser with the Signing of the Auction Purchase Agreement.

*There is a 10% Buyer's Premium in effect for this Real Estate Auction. 10% of the high bid will be calculated and added to The High Bid to determine the final contracted selling price of the real estate. This property is being sold at Public Live Auction, without recourse. Personal on-site inspection of the property by purchasers is strongly recommended. Bidders and Buyers are Strongly Encouraged to do their own Due Diligence on all Real Estate Auctions performed by this Auction Firm.

*Bidders/Purchasers agree to sign and acknowledge all required documents presented at and after the auction. The broker hereby acknowledges that it represents the seller. An Agency Disclosure Statement must be signed by the high bidder/Purchaser and the seller in accordance with Ohio law.

*This Real Estate Auction is being held as a "Reserve Auction" and is Subject to the Confirmation and acceptance of the High Bid by the Seller. The minimum Opening Bid required for this Real Estate Auction will be $50,000.00 USD and in no way represents a minimum Purchase Price for the Real Estate.

*Property will NOT be Sold before the close of the Auction.

*Purchaser will be responsible for all deed preparation fees, recording fees, transfer tax, and ALL other closing costs associated with the Real Estate. Parcel #12-00979.000 +/- 0.44 Acres. Full Year Gross Taxes without State and/or Homestead Exemption will be $1,839.46 annually According to the Erie County Auditor's Website and pro-rated on that amount to date of closing. The seller will provide a General Warranty Deed.

* Closing will take Place within 30 Days or Less of the Close of the Auction. Purchaser may request a closing extension in writing and Extensions may be agreed to by the Seller at a cost of an additional$200 per day.

*Purchaser agrees that Possession will be given Day of Closing.

*Closing shall take place at Network Land Title Agency 105 Cleveland Street Ste 200, Elyria, Ohio 44035.

*Purchaser acknowledges that they have had the opportunity Prior to the Close of the Auction to fully inspect the Property and have Fully Read a copy of these "Real Estate Auction Terms and Conditions".

*Purchaser acknowledges and agrees to be bound by all these Real Estate Auction Terms and Conditions and acknowledges that they cannot be altered except in writing and signed by all parties to the purchase contract.

*Purchaser agrees that any disputes will be resolved in Erie County, Ohio in the Common Pleas Court

*OPEN HOUSE & INSPECTION: Property Available for Viewing at OPEN House Scheduled for Wednesday January 10, 2024, 4pm to 6pm And Saturday January 13, 2024, 1pm to 3pm with Agent/Auctioneer Onsite. Or  by Scheduled Viewing with your own Real Estate Agent. Real Estate Agents, please call Warner L. McConaughey Realtor/Auctioneer King Realty at 440-554-9853 for Scheduled Showings and Lock Box Information. Potential Buyers will be permitted to Obtain Inspections At Their Own Expense. Any and All Inspections Must be Scheduled With The Real Estate Agent/Auctioneer Directly and Completed No Later than 24 Hours Before the Beginning of the Live Auction.

* There is a 2% Co-Broker Commission being offered on this Real Estate Auction ON THE HIGH BID AMOUNT ONLY OF YOUR CLIENT and ONLY IF your client is the Winning Bidder AND Seller Confirms and Accepts the High Bid. Broker/agent MUST have a "Buyer Broker Registration Form" on File with Auctioneer/Auction Company NO LATER than 48 Hours Prior to the Start of the Live Auction. For Buyer Broker Registration Form Contact, Warner L. McConaughey Realtor/Auctioneer King Reality /Auctions Plus, Inc. at 440-554-9853.