Gull Lake Waterfront Real Estate Auction **Selling by order of the Barry County Circuit Court**

Auction Photos:

TERMS & CONDITIONS

Open House Times:

• Saturday April 8 10am-11:30am
• Monday April 17 10am-11:30 am
• Wednesday April 26 1pm-auction time 3pm

Registration:

• Onsite registration begins at 2pm. Online bidders may register with Proxibid.com

Deposit for Real Estate:

• A deposit of 10% is required at the auction. 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 and are capable of paying cash at the closing.

Conditions:

• 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 merchantibility, usability, fitness for a particular purpose, or any matter whatsoever type or nature. Any improvements, which must be made, are the responsibility of the purchaser. All information advertised or stated was derived from sources believed correct but is not guaranteed. All property dimensions are only approximations. Buyers shall rely entirely on their own information, judgement and inspection of the property and records. 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. Sale is subject to an undisclosed reserve price. Sells Subject to approval of Barry County Circuit Court Judge. The auction company reserves the right to bid to protect the owner’s investment. Any announcements made at the auction site take precedence over printed material. Real Estate sells subject to secured creditors acceptance or rejection of high bid.

Closing Terms:

• Balance of purchase price due at closing within 30 days. The seller will pay taxes and assessments due on or before the auction. 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 $450 will be divided evenly between the buyer and the seller.

Broker’s Co-Op:

• A 2% Broker Co-Op will be offered. A Broker Co-Op form must be filled out and submitted 24 hours prior to the auction.

Buyers Premium:

• $500,000-999,000 is 7%
• $1,000,000-1,500,000 is 6%
• Greater than 1.5 million is 5%

Deposit:

• The Buyer will need to deposit a total of 10% down of which $15,000 must be in the form of a cashier’s check made payable to Miedema Auctioneering Inc. In order to receive a bidder number, the bidder will need to present the $15,000 cashier’s check to the auction staff.

Buyers 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 nonrefundable 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 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 new information and changes.

Bidders Packet:

• Complete Bidder’s packets, including copies of the buy/sell agreements and more detailed information will be available at the open house or by calling to request a packet be mailed to you. Call Miedema Auctioneering for details at 1-800-LASTBID.

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