Auction Terms and Conditions for The Clarence W. Barhorst Trust Real Estate Auction


Property Description: 171.1580 acres Per Recent Survey Located North of Anna Ohio on County Rd. 25A and Wells Rd.

Property will be offered in 4 Tracts as follows:

Tract # 1 Shelby County Parcel # 08-0528100.010 Containing a total of 26.8550 Acres per Shelby County Auditor. 832.69’ of road frontage along Wells Rd. This parcel has a permanent 50’ perpetual easement from the centerline of the closed ditch for maintenance of a drainage improvement maintained by Shelby County.

Tract # 2 Shelby County Parcel # 08-0528100.001 Containing a total of 40.3810 Acres per Shelby County Auditor. 1310.76’ of road frontage along Well Rd. and 1334.76’ along County Rd. 25A. This tract also includes a billboard lease.

Tract # 3 Shelby County Parcel # 08-0528200.009 Containing a total of 64.1670 Acres per Shelby County Auditor. 1802.80’ MOL of road frontage along Wells Rd. with a natural gas line running North and South along I-75

Tract # 4 Shelby County Parcel # 08-0528200.001 Containing a total of 39.7550 Acres per Shelby County Auditor. 905.09’ of road frontage along County Rd. 25A. This parcel also has the improvements of several older outbuildings in need of repair. New owner will need to install a culvert for access.

All tracts will be offered individually with bidding on any combination.

This Property is being offered via an Online Only Auction Event.
Bidding platform will open for individual tracts on September 8th. 9:00 a.m. Bidding for combination round shall open on September 9th. at 9:00 a.m. All tracts will begin closing September 9th. 2:00 P.M. 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(s) subject to owner confirmation using the Multi Parcel auction method with a soft close. Example of the soft close: If a bid is placed within 3 minutes of the auction close, bidding will automatically be extended an additional 3 minutes on all tracts and combinations. The last bidder will be notified via e-mail and text that they have been outbid. Bidding will remain open until all bids have remained silent for 3 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 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(s) 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: $ 20,000.00 per Tract shall be required within 24 hours of the auction close as good faith earnest money for each offered tract. If one bidder purchases All tracts the deposit shall be $ 80,000.00 This deposit shall be made payable to Gay Smith and Associates Realty and will be held in Escrow until closing at which time it will be returned to the buyer. If the buyer fails to perform per the terms of the auction purchase agreement the deposit will be forfeited and paid to 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 take place no later than October 9th. 2025. Any delays or extensions due to buyer or lender being unprepared to close shall incur a $ 1,000.00 per day penalty paid to seller. Closing shall be held at a mutually agreed location.

POSSESSION: Possession to all tillable acreage shall be granted upon removal of the 2025 crop by the current tenant farmer to be no later than November 30th. 2025. The seller shall retain all rents or payments for the 2025 crop year.

REAL ESTATE TAXES and FEES: All real estate taxes and assessments, if any, shall be pro-rated to date of closing using the long proration method customary in Shelby County, State of Ohio. Any CAUV recoupment due to change of current use shall be the responsibility of the purchaser. Any and all closing fees, transfer tax, deed stamps etc. shall be the responsibility of the purchaser.

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

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

SURVEY: A new survey of all tracts has been completed and approved by the Shelby County Engineer.
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 to perform all of their own inspections and have those results satisfactory to their expectations before bidding.

Owner: The Clarence W Barhorst Trust UA dated 02/28/2023

Justin Vondenhuevel CAI Auctioneer/ REALTOR
www.ohioagdirt.com
www.vasbid.com
Gay Smith/Associates Realty Sidney, Ohio
937-492-1078

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