ONLINE AUCTION TERMS AND CONDITIONS

Buyer agrees to immediately enter into a Real Estate Auction Purchase Agreement approved by Seller, if declared the high bidder (winning bidder) by the Auctioneer during the following auction:

Property Address: 1601 N. Hill Street, Muncie, IN 47303

Property Legal Description: COUNTRY TERRACE PT OF EACH LOT Lot # 6-7-8

Auction Location: Online at wagnerauctionandrealestate.hibid.com/auctions

Auction Date: October 14 - October 28, 2024 @ 6pm*
*This is a soft close online auction. Please see Item 19 for details.

Auctioneer: Curtis Cunningham of Wagner Auctioneering and Real Estate.
Auctioneer License: AU12400028
TERMS AND CONDITIONS

1) Seller Confirmation: The Property is being offered in an Online Only Auction, with all bids being subject to the Seller's approval.

2) Bidder Registration: Online bidder hereby agrees to properly register for the online auction via the HiBid platform. Contact Auctioneer for assistance.

3) Bidding Opens/Closes: The Online Only Auction bidding shall be opened and begin closing on the dates and times as stated above, subject to the soft close feature (details found in Item 19)

4) Property Previews: It is highly recommended that all Bidders personally inspect the property prior to placing any bids in the auction. Property visits can be scheduled through the Auctioneer or through the Bidder's Buyer's Agent, if employed.

5) Disclaimer: All information provided is believed to be accurate, however no liability for its accuracy, errors, and/or omissions are assumed. Photos, maps, measurements, etc. are approximate. Buyers to confirm accuracy. Property is being sold "As Is, Where Is" with no warranties expressed or implied. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller's reserve price, if applicable. Buyer acknowledges that any bid(s) placed is a binding agreement to purchase the Property, subject to the bid being approved by the Seller, if applicable.

6) Financing: By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the ability to obtain financing. Sale is NOT subject to an appraisal.

7) Buyer's Premium: No Buyer's premium will be assessed on this auction.

8) Purchase Agreement: The winning bidder hereby agrees to enter into a Real Estate Auction Purchase Agreement, which has been approved by the Seller, immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction, the winning bidder will be forwarded an email with the Real Estate Auction Purchase Agreement to be digitally signed. A signed Purchase Agreement must be received by Wagner Auctioneering and Real Estate no later than 24 hours from the time sent to the winning bidder. A sample Real Estate Auction Purchase Agreement is available for review prior to placing any bids.

9) Earnest Money Deposit: A 10% of winning bid amount non-refundable deposit will be wire transferred or hand delivered in the form of certified funds to Wagner Auctioneering and Real Estate no later than 24 hours following the close of the auction. These funds will be applied to the purchase at closing with the remaining balance due in full at that time.

10) Closing: Closing shall take place by November 18, 2024 at Randolph County Abstract.

11) Easements: The sale of the property is subject to any and all easements of records.

12) Survey: No survey is required to transfer title to the property. If Buyer desires a survey, it shall be at the Buyer's sole expense and shall not be a contingency or requirement in the purchase contract.

13) Inspections: Sale will NOT be contingent upon inspections. Property is being sold "As Is, Where Is." A recent inspection report is being provided and Buyers may order their own inspections prior to auction date for their own information only.

14) Title Work: Title work will be ordered immediately by the Seller at Randolph County Abstract who will also close the transaction. Closing fee charged by Title Company to be split 50/50. All other Buyer's closing costs to be incurred by Buyer.

15) Possession: Day of closing.

16) Deed: Seller to provide title insurance policy and will convey property via a General Warranty Deed.

17) Taxes: Buyer to be responsible for taxes due and payable starting Spring 2025.

18) Online Auction Technology Disclaimer: Bidder shall not have any claim against Wagner Auctioneering and Real Estate, Broker of record, or anyone else if Internet service fails before or during the auction. Online bidding is subject to technology faults and issues which are outside of the control of the Auction Company. Bidders are encouraged to use the "Maximum Bid" feature on the bidding platform if there are Internet capability concerns during the auction. The Seller and the Auction Company reserve the right to PAUSE the online auction bidding in the event of internal or external technology failure in order to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.

19) Soft Close: If a bid is received within the last 2 minutes of the auction, the auction close time will be automatically extended 2 additional minutes to allow other bidders an opportunity to competitively bid prior to the auction closing.

20) Buyer Brokers: Licensed real estate agents must disclose their buying client's name to Auctioneer 24-hours prior to the end of the auction via email to curtis@yourhoosierhome.com.


Curtis Cunningham - Wagner Auctioneering and Real Estate
Phone: (765) 717-2407
Email: curtis@yourhoosierhome.com

104 N. Main Street
PO Box 212
Farmland, IN 47340

IN Auctioneer License: AU12400028
IN Real Estate License: RB14042242
IN Real Estate Brokerage License: RC51000859

Selling with Seller Confirmation. Bring your tools an imagination! Whether you're looking for a fall project or a cash flowing addition to your portfolio, this property promises a rewarding challenge and a chance to make it your own. Situated in a convenient location, this 3-bedroom, 1-bathroom home offers a great opportunity for multiple exit strategies. Although in need of a complete rehab, this property stands as a prime candidate for renovation with a solid foundation to build upon. Selling with Seller Confirmation.