Auction Terms and Conditions for Becker Family Farms INC Real Estate Auction


Property Description: 123.0000 acres MOL Located South West of Botkins, Ohio, on Wenger Rd. South of State Route 274

The real property will be offered in 2 Tracts as follows:
Tract # 1 Shelby County Parcel #’s 08-0517300.002 and 08-0517300.005 Containing a total of 66.000 Acres MOL subject to new survey being completed.

Tract # 2 Shelby County Parcel #’s 10-0517100.013 and 10-0517100.014 Containing a total of 57.000 Acres MOL subject to new survey being completed.

Both tracts will be offered individually with bidding on any combination.

This Property is being offered via an online-only auction Event.
The bidding platform will open for individual tracts on March 24th. 9:00 a.m. Bidding for the combination round shall open on March 25th. at 9:00 a.m. Both tracts will begin closing on March 25th. 2:00 P.M. with 3-minute extensions until all bids have remained silent for 5 minutes.

AUCTION PROCEDURE: The above real estate will be sold to the highest bidder(s) subject to owner confirmation using the multi-parcel auction method with a soft close. If a bid is placed within 3 minutes of the auction close, bidding will automatically be extended an additional 3 minutes, and the last bidder will be notified via e-mail and text that they have been outbid. Bidding will remain open until all bids have remained silent for 5 minutes. Our system also offers a Max Bid or proxy bidding feature in which a bidder may enter their maximum bid, and the computer will bid on their behalf in designated increments.
BUYER’S PREMIUM: A 5% buyer’s premium will be charged. This buyer’s premium will be added to the final high bid to determine the final contract price.
NOTIFICATION OF ACCEPTANCE OF OFFER: The successful bidder(s) will be notified via phone within 2 hours of the auction close if their bid has been accepted. The successful bidder(s) will be required to enter into a NON CONTINGENT MEMORANDUM OF AUCTION SALE AGREEMENT (Purchase Agreement located in the document section of the website) with the sellers within 24 hours of the auction close. This shall be completed via electronic signature. Your bidding is considered to be a binding contract.
DEPOSIT: $ 20,000.00 per parcel or Tract shall be required within 24 hours of the auction close as good faith earnest money for each offered tract. If one bidder purchases both tracts, the deposit shall be $ 40,000.00. This deposit shall be made payable to Gay Smith and Associates Realty and will be held in Escrow until closing, at which time it will be returned to the buyer. If the buyer fails to perform per the terms of the auction purchase agreement, the deposit will be forfeited and paid to the seller.
TITLE: At closing, the seller shall convey marketable title to the property free and clear of all liens and encumbrances in the form of a General Warranty deed. If the seller’s title is found to be defective, the seller shall have the right to remedy the defect within 60 days. If this cannot be done, then, at the option of the buyer, the deposit shall be returned and the auction sale terminated.
CLOSING: The full contract purchase price is due at closing, which shall take place no later than April 25th. 2025. Closing shall be held at a mutually agreed location.
POSSESSION: Possession of all acreage shall be granted at closing.
REAL ESTATE TAXES and FEES: All real estate taxes and assessments, if any, shall be pro-rated to the date of closing using the long proration method customary in Shelby County, State of Ohio. Any CAUV recoupment due to a change of current use shall be the responsibility of the purchaser. Any and all closing fees, transfer tax, deed stamps, etc., shall be the responsibility of the purchaser.
SALE CONTINGENCIES: Your agreement to purchase this property is subject to no contingencies of any type, including financing.
AGENCY: Justin Vondenhuevel CAI with Gay Smith and Associates Realty are exclusive agents of the seller.
SURVEY: A new survey has been completed and is awaiting County Approval as of February 24th. 2025
DISCLAIMER AND ABSENCE OF WARRANTIES: The property is sold on an AS-IS WHERE IS BASIS with no warranty or representation, either expressed or implied, concerning the property by the sellers, Broker, or auction Company. Buyers are responsible for performing all of their own inspections and having those results satisfactory to their expectations before bidding.

Owner: Becker Family Farms

Justin Vondenhuevel CAI Auctioneer/ REALTOR
www.ohioagdirt.com
www.vasbid.com
Gay Smith/Associates Realty Sidney, Ohio
937-492-1078

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