Auction Terms & Conditions Auction Terms & Conditions ONLINE REAL ESTATE AUCTION NOTICE - CASH or FINANCING BIDDING PROCEDURE - BUYER'S ARE TO FOLLOW WITH NO WAIVER.
NOTE: THE ONLY ALLOWABLE AND/OR AUTHORIZED METHOD OF PAYMENT FOR THIS ONLINE REAL ESTATE AUCTION IS CASH. NO OFFERS SUBJECT TO FINANCING WILL BE PERMITTED. SHOULD YOU BE THE WINNING BIDDER, PLEASE HAVE PROOF OF FUNDS READY TO BE SUBMITTED TO THE AUCTION COMPANY.
DATE: 5/27/2021 thru 06/17/2021
SELLER: Leadership 101
LOCATION: 305 N Claypool Rd Muncie, IN
706 E 6th St Muncie, IN
LEGAL DESCRIPTION: Below is a partial legal description, the full one will be provided at closing.
305 N Claypool Rd Muncie, IN - MAYFIELD LOT 16
706 E 6th St Muncie, IN - GAL SUB LOT 159
--- BIDDERS PACKET: All bidders who have registered for the online auction can call our office to receive a sample of an offer to purchase.
--- ONLINE REGISTRATION: Registration for this online auction finalizes each bidder's agreement to the terms and conditions of sale as stated in the Purchase Agreement which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the Real Estate, all bidders must be signed in through www.bidtarter.com. There is no fee to register, but a valid credit card will be required to verify identity and ensure payment of the Earnest Money, if applicable. By bidding you are representing to Tarter Realty and the Seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated, DO NOT BID or you will be bound by those terms and conditions. By bidding you agree to all disclosures.
--- CONDUCT OF THE AUCTION: The Seller and selling agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, validity of the credit card, fitness to bid, financial ability to buy, etc. All decisions of the Auctioneer are final. THE SALE WILL BE CONTROLLED BY THE AUCTIONFLEX/BIDOPIA SOFTWARE. Tarter Realty is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid.
--- BIDDING: Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved by the way of verified identity and credit card information. The bidding will be open for minimum of 10 days. The auction ends at a predetermined time with an Overtime Period if necessary, which is defined as follows: if a bid is placed within five (5) minutes of the close of bidding, then another five (5) minute period commences from the time of the last bid until no bids are placed within the next five (5) minutes. The last bid shall be made final.
--- AGENCY DISCLOSURE & GENERAL OFFICE POLICIES: Tarter Realty Auction & Appraisal Company will represent the Seller exclusively unless a Tarter Realty Agent has a signed buyer agency agreement with Buyer, then that agent has a limited agency with Buyer.
--- DISCLAIMER & ABSENCE OF WARRANTIES: All information contained online or in the brochure and related material is subject to the terms and conditions outlined in the Purchase Agreement. The Property is being sold on an "AS IS, WHERE IS" basis. No warranty or representation, either expressed or implied, concerning the Property, its condition, or the condition of any other components on the Property, is made by the Seller or Tarter Realty. All sketches and dimensions online or in the brochure are approximate. The information contained online or in the Brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or Tarter Realty. Each potential bidder is responsible for conducting his or her own independent inspections , investigations, inquiries, and due diligence concerning the property (prior to the conclusion of the sale). This should be done prior to the conclusion of the sale as any formal offers should have inspections waived by the Buyer.
--- TERMS: An Earnest Money deposit of $2,500.00 is due within 24 hours of the online auction closing. In the event the winning bidder fails to provide the Earnest Money within 24 hours, Tarter Realty is authorized to charge the credit card for the amount of the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The balance is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. A Buyer's Premium of $2,500 per property will be added to the final bid and included in the total contract price.
--- TITLE POLICY: A preliminary title policy has been prepared by Empire Title Company, which will be preparing the final title policy plus conducting the Closing. Seller and Buyer agree to use Empire Title Company.
--- SUBJECT TO FINANCING CONDITIONS: **NOT APPLICABLE FOR THIS SALE** IF an offer is accepted that is contingent on financing. Buyer's to have a pre-approval letter from their lender approved by Tarter Realty.
--- CASH CONDITIONS: The Earnest Money will be totally forfeited in the event the Seller accepts the successful bidder's Purchase Agreement in writing and the successful bidder subsequently refuses to proceed to Closing.
--- EXECUTION OF PURCHASE AGREEMENT: The successful bidder has earned the right to make an offer to the Seller; no sale has been completed. The bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money within 24 hours to the Seller in a check payable to Tarter Realty. The Earnest Money will be returned if Seller does not accept the successful bid.
--- TAXES: The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax bill for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax bill available to the closing agent. The succeeding year's tax bill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax bill available to the closing agent.
--- GUARANTY: Any individual submitting a bid or signing the Purchase Agreement on behalf of any entity agrees to be individually bound by all these terms and conditions and individually responsible for payment of the Earnest Money and the balance due.
--- POSSESSION: The possession of the Property shall be at closing.
--- SURVEY: The Seller has a legal description for the property so no survey will be provided. If a survey is requested, it will be paid for by the Buyer.
--- CLOSING: Balance of the purchase price is due in cash at closing. The fee charged by any closing agent, including an attorney acting as a closing agent for both parties, or Buyer's lender acting in such capacity, for closing services shall be paid equally by the parties. Seller and Buyer will each be responsible for what the local market considers their respective customary closing costs to sell/buy a property.
--- AUCTIONEER RESERVES: Auctioneer Reserves the right to make changes to an auction, to split or combine lots, cancel, suspend or extend the auction event.
NOTE: Neither the Seller nor Tarter Realty is responsible for any personal property left in the residence and buildings, or on the land after the Real Estate possession is granted to Buyer and will be inherited by the new buyer.
STATEMENTS MADE BY AUCTIONEER WILL TAKE PRECEDENCE OVER PREVIOUS PRINTED MATERIALS OR ANY PREVIOUS ORAL STATEMENTS
Seller User Terms
Bidder User Terms