Obenauf Real Estate

TERMS & CONDITIONS

Open House Times:

• Vacant Land. Walk anytime.

Registration:

• Begins at 5pm.

Deposit for Real Estate:

• 10% of the successful bid price is required at the auction, cash, cashiers check or good personal 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 and 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 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, judgment and inspection of the property and records. The real estatewill 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. 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 will sell to the highest bidder with no minimums.

Closing Terms:

• Balance of purchase price due at the closing within 45 days. The seller will pay taxes and assessments due on or before the auction. Possession will be given at the closing subject to rights of tenants to harvest current crop. 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 $400 will be divided evenly between the buyer and the seller. The cost of the survey will be the cost of the buyer’s payable at closing.

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.

Bidder’s 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 the auction company for details at 1-800-LASTBID.

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