Lot # : 5 - TERMS

Owner of this real estate has been served legal notice of required repairs from City of Ocheyedan. The repairs to the property or removal of the improvements MUST be completed on or before November 12, 2020. IT WILL become the buyer's responsibility to make the repairs or removal by that date, no exceptions or additional time will be granted according to City officials. Repairs required are: 1. Porch repair including roofing/shingle replacement. 2. Animal and animal tunnel removal around and near the home. 3. Inspect and repair foundation if needed. REAL ESTATE TERMS: Selling is the legal description that include improvements present. Abbreviated legal noted in property description. Electricity is on. NO other utilities will be activated for the auction, it will be responsibility of buyer to activate utilities at closing if desired. At the conclusion of the auction the winning bidder will be charged a $500 deposit (plus 3.5% processing fee) as an immediate non-refundable deposit. Buyer of the real estate will sign a purchase agreement and deliver the balance to amount to 10% of gross winning bid earnest deposit at the Klaassen Realty office at 120 9th Street in Sibley, Iowa within 48 hours of auction close. A continued abstract will be delivered to buyer for title examination prior to closing date. Possession and closing will be on or before October 23, 2020, at the Klaassen Realty office in Sibley, Iowa. Real estate taxes will be prorated to closing date. Any personal property or debris remaining at closing becomes property and responsibility of buyers. Contact Ocheyedan City office for determination of regulations for your intended use of the property and utilities available. Klaassen Realty is providing brokerage services, is an agent for and is representing the Seller at this auction. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied concerning the property is made by the Sellers or the Auction Company. This is not an absolute auction unless specifically stated in the auction heading. Bidders are encouraged to make their own physical inspection and rely solely on that inspection before bidding. Failure to inspect does not negate that Bidders responsibility to perform under the auction terms and conditions. You acknowledge that you have the right and responsibility to inspect, or to have a third party representative inspect for you. VIEWING: REAL ESTATE: September 25, 2020 by appointment AUCTION TERMS & CONDITIONS VERY IMPORTANT! READ CAREFULLY BEFORE YOU ATTEMPT TO BID. ONCE YOU BID, YOU WILL BE BOUND LEGALLY BY THE FOLLOWING TERMS AND RULES THAT ARE STATED HERE. TERMS GENERAL TERMS: All prospective buyers must be at least 18 years old and are required to register prior to bidding. By placing a bid, the bidder acknowledges he has received, read, and understands and agrees to be bound by the terms and conditions of the auction. The bidder, whether acting as principal, agent, officer or director of a company or otherwise, in any capacity whatsoever, and the company they represent, both jointly and severally agrees to indemnify and save harmless Auctioneer and its officers, directors, employees, agents, attorneys and its consignors, from any and all actions, causes of action, suits, damages, costs, and losses of any nature, including injury and death, arising from the purchase or use of any items, or the attendance or participation of bidder, his/her agents or employees, at the auction and/or on the auction site whether before, during, or after the auction. Auctioneer reserves the right to periodically change the terms and conditions of the Agreement, which shall be effective immediately upon posting. It is the Bidders responsibility to review any and all changes made to these terms and conditions prior to bidding on property. Auctioneer reserves the right to add or withdraw property from the auction, and/or regroup items. Auctioneer reserves the right to sell property absolute or with reserve, at Seller discretion. The Seller does have the right to make the final bid and the Auctioneer does have the right to bid on behalf of the Seller. The auctioneer reserves the right to open the bid as the result of a tie bid or discrepancies in the bid. Bidder must submit information found to be current, complete, and accurate for proper identification. Auctioneer does not sell or rent this information. Auctioneer uses email mailing lists to notify customers about online and live auctions. Customers who do not wish to be notified should contact the office of the Auctioneer and request removal from the email mailing list. Bidder is responsible for security of his/her bidding number/user name and password, and any and all bids placed under the assigned number/ID. Auctioneer should be notified immediately if Bidder believes number and/or password have been compromised. Auctioneer reserves the right to terminate registration, deny any person for any reason permission or access to bid, to reject any and all bids, and to suspend or ban Bidder from bidding, at Auctioneers sole discretion. Bidder registration is not transferable or assignable. Read the description of the lot and view photographs carefully. If you have any questions call Kevin Klaassen at 712-754-3500. Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. BIDDING IN THE ONLINE AUCTION: Once you are registered and have your User Name & Password, you may place bids as soon as a lot opens for bidding. Your bids are FINAL and constitute a binding contract. Please be aware that lots will close at various times as the live auction proceeds. You are responsible for monitoring these close times. Please bid early to avoid disappointment. Bidder acknowledges that hardware malfunctions, software malfunctions, viruses, and similar issues do occur and are beyond the knowledge, scope, and control of Auctioneer. We are NOT responsible for your system malfunctions, connection to the internet or your e-mail client stopping any of our e-mails to you in regard to bid confirmations and/or outbid notifications. An invoice will be sent to your registered e-mail address within 24 hours following the conclusion of the auction. Auction company employees and/or auction company may bid on auction items. NO Buyer premiums for this auction!