Real Estate Auction Terms & Conditions
Addendum “F” to the Real Estate Offer to Purchase
Addendum “F” is attached to and made part of the Offer to Purchase dated December 18, 2018 the Buyer, with respect to the property located at N6680 County Road H, Camp Douglas, WI 54618
Owned by Ellen Tiber, Cathy Jo Berry POA
Legal Discription per taxes: Section 09, T 16 N, R 02 E PT. SW 1/4 NE 1/4
Parcel #29010084 Town of Fountain , Juneau County
DO NOT BID unless you have read and understand the following
Addendum "F" ---- REAL ESTATE AUCTION TERMS AND CONDITIONS --Addendum "F"
1. Auction Bidding Process and Times: The on-line auction will close at a specified time on December 18, 2018. The on-line platform has an auto-extend feature. Any bids placed in the final 10 minutes of an auction end time will automatically be extended 10 minutes from the time the bid was placed.
2. Terms and Conditions will be made part of the Wisconsin Real Estate Offer to Purchase. The buyer will execute an Offer to Purchase, in the form provided, without modification, immediately after being declared the high bidder.
3. ALL offers are CASH OFFERS and are not subject to any contingencies, whatsoever. Offer is not subject to financing, inspections or appraisals.
4. A buyer’s fee in the amount of 10% will be added onto the highest bid to determine the actual offer amount. (Example. On-Line Bid Amount is $100,000.00, 10%=$10,000, Offer to read $110,000.00)
5. The earnest money shall be in the form of a bank certified check, wire transfer, or verified personal check payable to First Choice Realty Trust Account - in the amount of $5,000. Earnest money to be made available within 24 hours of declaration of buyer having highest bid. Balance of purchase price to be paid at closing.
6. Seller reserves the right to accept, reject, or counter-offer any and all bids/offers submitted.
7. If/when the buyer’s offer is accepted by seller, (POA for Ellen Tiber), buyer’s earnest money will apply to the purchase price at the time of closing. If the buyer’s offer is rejected, the earnest money will be refunded in full to the buyer. Earnest money will remain in First Choice trust account if offer is countered, up to the time there are no longer negotiations, or it closes. Buyer agrees to release earnest money to seller as liquidated damages if the buyer fails, for any reason, to complete the transaction. Earnest money is non-refundable. This sale is subject to the Seller's confirmation of offer.
8. Bid rights are provisional. Wagenson Auction Service has the right to reject any registration and stopbidding activity based upon a bidder not being verifiable with the First Choice Realty Inc, or Wagenson Auction Service. All passwords and user names are the buyers responsibility. All local, state, and federal laws are applicable and violation will result in buyer termination of bidding.
9. First Choice Realty Inc will email all offer documents to buyer. First Choice Realty uses electronic signatures. All documents to be signed within 24 hours of close of auction. The buyer may sign documents at First Choice Realty office, 900 Superior Ave., Tomah, WI within 24 hours of notification of close of auction. Fax is also an acceptable form for signing 608 374 3700
10. First Choice Realty & Wagenson Auction Service, llc are acting on behalf of the seller. Buyers to sign an agency disclosure and an Addendum S “Lead Base Paint” disclosure. Any testing for lead base paint to be buyers cost and buyers remediation costs. Any inspection result does not negate the offer.
11. Buyer is buying the property in present "AS IS, WHERE IS, HOW IS", condition, with all faults - known or unknown, whether disclosed or not disclosed. This is done without expressed or implied warranties or representations as to fitness or a particular use, physical or environmental condition. The buyer agrees that neither the seller, broker or auctioneers offer any warranties or represenations, of any type, now or in the future. It is agreed that buyer will not sue for any non-disclosures or errors. All descriptions, measurements and acreage provided by the seller and the First Choice Realty Inc are to be used as a guide only. The buyer shall have satisfied themselves as to the location and condition of the Property, and all descriptions with respect therefor, prior to bidding. Seller to keep property in same condition as day of auction.
12. Closing Date: January 15, 2019 or before.
13. Buyer may have tests, inspections or appraisals done at their expense and under the authorization of seller. The offer to purchase is not contingent upon any of the above. Seller will not cure. Mound sytem installed recently.
14. Acres of 2.78 per 2017 tax statement
15. Title Insurance/Deed: Seller to provide buyer with title insurance and a deed. Title to property will be free and clear of all mortgages, any back taxes, judgement and or leins. Property lines have not been marked and neighbors well my encumber onto seller's property.
16. Real Estate Taxes will be prorated at closing and credited to the buyer by seller. Taxes for 2017 were $2,515.45. Tax Assessment for 2017 10.026 acres, $9,500 land, $114,500 Improvement, Total Estimate Fair Market Value: $124,800. No appraisal has been completed on property. Property is zoned residential. Property taxes may change if reassessed for different usage. Offer is not contingent upon the buyer's future use of the property or future assessment.
17. Additional closing cost to the buyer: $30.00 to file deed. Any Testing or inspections to be buyer's expense. Any bank loan fees. Title Company Closing Fee, approximately $300.00
18. Any remaining debris in or around buildings to be the buyers responsibility. No additional clean-up by seller. Home is in "AS IS" condition with no warranties or further disclosure or condition.
19. First Choice Realty of Tomah, Inc and Wagenson Auction Service, and the Sellers of the property or any agents or representatives make no warranties as to the accuracy and completeness of this information. All future and announcements on day of auction take precedence over written material. First Choice Realty of Tomah, Inc, & Wagenson Auction Service are agents of the seller.
I Agree to the Terms and Conditions for this auction and understand that bidding is a written binding contract.
Drafted by broker, Mary Jo Hill, First Choice Realty of Tomah, Inc.