Auction Terms and Conditions



Property Description: 43.6800 Acres (Subject to Survey) MOL Located on Logan Shelby Rd. Quincy, Ohio

NOTE: The new survey has been completed and recorded. NEW acreage amount per survey is 44.7550 Acres

Selling by order of the Ruby A. Brautigam Estate. Shelby County Probate 2023-EST-247

The property will be offered in 1 Parcel as follows:

Parcel (Tract) # 1 Champaign County Parcel # A0113330000300



This Property is being offered via an online-only auction Event.

The bidding platform will open on March 17th. 9:00 a.m. and will begin closing on Tuesday, March 18th. 2:00 P.M. EST with 3-minute extensions until all bids have remained silent for 3 minutes.



AUCTION PROCEDURE: The above real estate will be sold to the highest bidder subject to owner confirmation with a soft close. If a bid is placed within 3 minutes of the auction close, bidding will automatically be extended an additional 3 minutes, and the last bidder will be notified via e-mail/text that they have been outbid. Bidding will remain open until all bids have remained silent for 5 minutes. Our system also offers a Max Bid or proxy bidding feature in which a bidder may enter their maximum bid, and the computer will bid on their behalf in designated increments.



BUYER’S PREMIUM: A 5% buyer’s premium will be charged. This buyer’s premium will be added to the final high bid to determine the final contract price.



NOTIFICATION OF ACCEPTANCE OF OFFER: The successful bidder(s) will be notified via phone within 2 hours of the auction close if their bid has been accepted. The successful bidder will be required to enter into a NON CONTINGENT MEMORANDUM OF AUCTION SALE AGREEMENT (Purchase Agreement located in the document section of the website) with the sellers within 24 hours of the auction close. This shall be completed via electronic signature. Your bidding is considered to be a binding contract.

DEPOSIT: A deposit of $20,000.00 shall be required within 24 hours of the auction closing as good faith earnest money. This deposit shall be made payable to Gay Smith and Associates Realty and held in Escrow until closing, at which time it will be returned to the buyer. If the buyer fails to perform according to the terms of the auction purchase agreement, the deposit will be forfeited and paid to the seller.



TITLE: At closing, the seller shall convey marketable title to the property free and clear of all liens and encumbrances in the form of a Fiduciary deed. If the seller’s title is found to be defective, the seller shall have the right to remedy the defect within 60 days. If this cannot be done, then, at the option of the buyer, the deposit shall be returned and the auction sale terminated.



CLOSING: The full contract purchase price is due at closing, which shall occur no later than April 18th. 2025. Closing shall be held at a mutually agreed location.



POSSESSION: Possession shall be granted at closing.



REAL ESTATE TAXES and FEES: All real estate taxes and assessments, if any, shall be pro-rated to the date of closing using the method customary in Champaign County, Ohio. The purchaser is responsible for any CAUV recoupment due to a change of current use. The purchaser is also responsible for any and all closing fees, transfer tax, deed stamps, etc.



SALE CONTINGENCIES: Your agreement to purchase this property is subject to no contingencies, including financing.



AGENCY: Justin Vondenhuevel, CAI with Gay Smith and Associates Realty, are the seller's exclusive agents.



SURVEY: A new survey will be completed and filed by auction day..



DISCLAIMER AND ABSENCE OF WARRANTIES: The property is sold on an AS-IS, WHERE-IS BASIS, with no warranty or representation, either expressed or implied, concerning the property by the sellers, Broker, or auction Company. Buyers are responsible for performing all of their own inspections and having those results satisfactory to their expectations before bidding.



Owner: Estate of Ruby A. Brautigam Shelby County Probate 2023-EST-247



Justin Vondenhuevel CAI Auctioneer/ REALTOR

www.ohioagdirt.com

www.vasbid.com

Gay Smith/Associates Realty Sidney, Ohio

937-492-1078



ANY ANNOUNCEMENTS POSTED TO THE WEBSITE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS