335 11th Street, Elyria, Ohio 44035 Real Estate Auction Terms & Conditions *Online ONLY Bidding *Bidder Registration: All bidders are required to be registered for this Auction and Provide Verified Credit Card registration on Hibid.com. This Online Only Real Estate Auction will be held Online Only at https://auctionsplusinc.hibid.com (Please Note; Your Credit card On File is for Registration Purposes ONLY and Will NOT Be Processed for this Purchase.) *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 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. *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 Online Only 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 is $15,000.00 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. Bid Increments for this Auction will be $500 each bid and a Soft Close will be in effect with 5 additional minutes added if a bid is placed within the final 5 minutes of the Close of Bidding. *Purchaser will be responsible for deed preparation fees, recording fees, transfer tax, and ALL other closing costs associated with the Real Estate. Parcel #0626015102010 Sub Lot 19 66'x165'. Taxes without State and/or Homestead Exemption will be $2,275.68 annually According to the Lorain County Auditor's Website and pro-rated on that amount to date of closing. The seller will provide a General Warranty Deed. *$5,000.00 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. * 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. *By Placing an Online Bid the 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. * By Placing an Online Bid the 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". * By Placing an Online Bid the Purchaser acknowledges and agrees to be bound by all of 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. * By Placing an Online Bid the Purchaser agrees that any disputes will be resolved in Lorain County, Ohio in the Common Pleas Court *OPEN HOUSE & INSPECTION: Property Available For Viewing at OPEN House Scheduled for Thursday January 11, 2024 3pm to 5pm And Saturday January 20, 2024 1pm to 3pm with Agent/Auctioneer Onsite. Or by Scheduled Viewing with your own Real Estate Agent. Agents, please call Warner L. McConaughey Realtor/Auctioneer King Realty at 440-554-9853 for Scheduled Showings. * There is a 2% or $1,000 (Whichever is Greater) 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 Close of the Online Only Auction. For Company Form Contact, Warner L. McConaughey Realtor/Auctioneer King Reality /Auctions Plus, Inc. at 440-554-9853.