TERMS & CONDITIONS

Registration:

• Begins at 5PM. Auction Location: The Optimist Club: 788 Industrial Park Dr., Shelby, MI.

Land Inspection:

• You can walk the vacant land
  at any time at your convenience to inspect.

Deposit for Real Estate:

• 10% of the successful bid price is required at the auction by good check, cash or cashier’s check. This deposit is NOT refundable if the buyer does not carry through with the purchase. Your bidding is not conditional upon financing, so be sure you have arranged financing if needed or are capable of paying cash at the closing.

Conditions:

• The terms and conditions of this auction will be governed by the contract for the sale of Real Estate (herein called the buy/sell). The following terms are a summary provided for the convenience of the bidder. The buy/sell is available in the bidder’s packet and should be reviewed prior to the auction. All properties sell “AS IS WHERE IS” with no warranties of any type expressed or implied as to the merchantability, usability, fitness for a particular purpose, or any matter of whatsoever type of nature. Any improvements, which must be made, are the responsibility of the purchaser. All information advertised or states was derived from sources believed correct but is not guaranteed. All property dimensions are only approximations. Buyers shall rely entirely on their own information, judgment and inspection of the property and record. The real estate will be sold free and clear of all the liens. The property will however be sold subject to any easements and building and use restrictions of record. Any announcements made at the auction site take precedence over printed material. A 4% Buyers Premium will be added to the high bid.

Closing Terms:

• Balance of purchase price due at the closing. The seller will pay taxes and assessments due on or before the auction. Possession on the vacant land will be granted at closing. Seller shall provide an owners title insurance policy in the amount of the purchase price. Closings will be held at a local title company. Closing fees of approx. $450 will be divided evenly between the buyer and the seller.

Buyer’s Note:

• If you are the successful bidder, you must go to the closing table to sign all the purchase agreements immediately following the conclusion of the auction. At that time, your check will be endorsed as a non-refundable deposit on the property. Individual purchases are to be considered as singular transactions, not contingent on any other purchases of properties on the auction. The ability to obtain financing is NOT a contingency of the sale. The auction will be conducted at the sole discretion of the auctioneer and any bids may be recognized at their discretion.

New Data:

• New data, corrections or changes could be made after the printing of this brochure. Please arrive prior to the start of the auction to inspect and consider any information and changes.

Bidder’s Packet:

• Complete bidder’s packets including copies of the buy/sell agreements, Soil information, Title Commitments, etc. and will be available by calling to request a packet to be mailed at 1-800-527-8243 or visit our website at MiedemaAuctioneering.com.

All written material is subject to change. Announcements made day of sale take precedence over printed material.