TERMS AND CONDITIONS OF SALE

REAL PROPERTY LOCATED AT

110 MAIN STREET, TOWN OF SHERMAN

COUNTY OF CHAUTAUQUA, STATE OF NEW YORK, 

IDENTIFIED AS TAX PARCEL: SECTION 328.10 BLOCK 2 LOT 20

WILL BE OFFERED FOR SALE AT PUBLIC AUCTION

ON WEDNESDAY, APRIL 29, 2020. BIDDING TO BEGIN AT 6:00 PM

OnLine Bidding w/ Live Auction

The auction will be held on location at the property 

Viewing by appointment contact Peterson Auction & Realty

Auction Parcel: 

Approximate .03 acre village lot with row building, approximately 5,194 sq ft retail space and approximately 46.5’ of road frontage on Main Street.  Public sewer and water.

(1.)  This property is being offered for sale “AS IS, WHERE IS”, with no guarantees or warranties of any sort, either actual or implied, including but not limited to  the existence of a sewer system, water system, plumbing, heating, electrical, interior and exterior of all buildings, any fixtures, and the land. If required, the Purchaser will pay for a Chautauqua County health department sewer and water test at closing and will pay for any and all repairs or updates if required by Chautauqua County. 

(2.) All property boundaries are approximate, and no guarantees of any kind are given with respect to the acreage shown on tax maps or referred to in any existing deeds, surveys, or sale literature. If a land survey is required or desired, it is the responsibility of Purchaser’s to order and pay for prior to closing. 

(3.)  Prospective Purchasers are responsible for inspecting the property, being knowledgeable about its physical condition and any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, and understanding closing costs and fees, PRIOR TO THE AUCTION. 

(4.)  The sale will be subject to the approval of the Sellers within 48 hours of the auction. The Sellers reserves the right to accept or reject any and all bids, for any reason whatsoever.

(5.)  The successful high bidders will immediately sign a Contract for Sale of Real Property and will place $3,500.00 in the form of cash or good check with Mike Peterson Auction & Realty Service to be held in their escrow account until closing.  

(6.)  The deposit will NOT be refunded if the sale is not completed due to the default of the Purchasers for any reason and therefore will be forfeited to the seller.

(7.)  The deposit WILL be refunded in full to the Purchasers if the sale is not completed due to the default of the Sellers for any reason.

(8.)  The BALANCE will be due AT CLOSING, ON OR BEFORE JUNE 29, 2020. POSSESSION will be granted at closing.

(9.)  The Seller shall furnish an INSURABLE TITLE to the Purchaser, free and clear of any liens or encumbrances, subject to any leases, easements, rights of way, or deed restrictions of record. All sellers’ oil, gas, mineral, & timber rights will be conveyed to the purchasers at time of closing.

(10.)  CLOSING COSTS - The Seller will pay for the Title Search update. Purchaser’s will pay for Revenue Stamps, TP 584 Filing Fee, Deed Recording Fee, RP5217 Filing Fee, and any costs in obtaining financing. Each will pay own attorney fees.

(11.)  ALL PROPERTY TAXES will be PRORATED as of the CLOSING DATE.  

(12.)  Seller and/or Auctioneer reserve the right to cancel the auction for any reason prior to set auction date.

(13.) Michael W. Peterson is acting only as Sales Agent for the Seller, and has no personal interest in the property.  

     ANY  ANNOUNCEMENTS  MADE  BY  THE  AUCTIONEER  ON  THE  DAY  OF  THE SALE  WILL  TAKE  PRECEDENCE  OVER  ANY  PRINTED  MATERIAL.

     THE SELLER AND HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.

SELLER: James E. Chambers Jr

ATTORNEY: Mark Bargar     716-326-7733

                        31 East Main Street

                        Westfield, New York  14787

BROKER:      Michael W. Peterson, Mike Peterson Auction and Realty Service

                       164 Ivory Street, Frewsburg, New York 14738

                       Telephone:  716-665-0668             Fax:  716-661-9629

                       E-mail: peteauction@hotmail.com   Web Site:  www.petersonauction.com 

PROPERTY DESCRIPTION 

Location: 110 Main Street, Sherman, New York 14781

TAX PARCEL NUMBER:    Section 328.10 Block 2 Lot 20

                                                Deed Book: 2571   Deed Page: 801 Date: 5/4/2005  

TAX ASSESMENT FULL MARKET VALUE:   $ 56,000.00                                                

2020 TAXES:  Total: $ 2,259.28    School: $ 914.23

                                                        Village: $ 595.24

                                                        Town & County:  $ 749.81      

SCHOOL DISTRICT: Sherman

ALL MEASUREMENTS ARE APPROXIMATE

LAND: .03 acres

ATTACHED ROW BUILDING: 1900’s block construction with common walls, 5,194 sq ft retail space, basement with manual freight elevator to main floor. Rear access from parking lot, Public sewer & water. Gas & electric.