Real Estate Auction Terms & Conditions
6505 Pearl Rd., Parma Heights, Ohio 44130.
* Online ONLY Bidding
*Bidder Registration: All bidders are required to be registered for this Auction and Provide Verified Credit Card registration on Hibid.com. This Online Only Commercial Real Estate Auction will be held Online Only at https://auctionsplusinc.hibid.com
*Buyers Contract: All Real Estate is sold "AS-IS, WHERE-IS" with no warranty, guarantee, or Contingencies expressed or Implied of any kind. The Seller(s) WILL NOT make any Repairs to this Property What-so-ever. A bid is a legal binding contract. Buyers are responsible for honoring their purchases. There are and will be no financing contingencies.
*There is a 10% Buyer's Premium in effect for this Real Estate Auction. 10% of the high bid will be calculated and added to The High Bid to determine the final contracted selling price of the real estate. This property is being sold at Public Online Only Auction, without recourse. Personal on-site inspection of the property by purchasers is strongly recommended. Bidders and Buyers are Strongly Encouraged to do their own Due Diligence on all Real Estate Auctions performed by this Auction Firm.
*Bidders/Purchasers agree to sign and acknowledge all required documents presented at and after the auction. The broker hereby acknowledges that it represents the seller. An Agency Disclosure Statement must be signed by the high bidder/Purchaser and the seller in accordance with Ohio law.
*This Real Estate Auction is being held as a "Reserve Auction" and is Subject to the Confirmation and acceptance of the High Bid by the Seller. The minimum Opening Bid required for this Real Estate Auction is $150,000.00 USD and in no way represents a minimum "Reserve" Purchase Price for the Real Estate.
*Property may be sold before the close of the Online Only Auction if a Purchaser makes an acceptable Offer and the Seller Accepts that offer.
*Bid Increments for this Auction will be $10,000 each bid up to $300,000.00 and $5,000.00 each bid for over $300,000.00 and a Soft Close will be in effect with 5 additional minutes added if a bid is placed within the final 3 minutes of the Close of Bidding.
*Purchaser will be responsible for all deed preparation fees, all recording fees, all transfer tax, and ALL other closing costs associated with the Real Estate. Includes Parcel #472-22-005. Taxes without State and/or Homestead Exemption will be $7,237.98 annually According to the Cuyahoga County Auditor's Website and pro-rated on that amount to date of closing. The seller will provide a General Warranty Deed.
*$25,000.00 shall be deposited by the purchaser Within 48 Hours of the Auction Bidding Being Closed as a non-refundable deposit, Via wire transfer Only To Network Land Title Agency 105 Cleveland Street, Elyria, Ohio 44035. This non-refundable deposit will be applied to the purchase price at closing and will be held in the trust account of Network Land Title Agency.
* Closing will take Place within 30 Days or Less of the Close of the Auction. Purchaser may request a closing extension in writing and Extensions may be agreed to by the Seller at a cost of an additional $200 per day.
*Purchaser agrees that Possession will be given Day of Closing.
*Closing shall take place at Network Land Title Agency 105 Cleveland Street Ste 200, Elyria, Ohio 44035.
*Purchaser acknowledges that they have had the opportunity prior to the Close of the Auction Bidding to fully inspect the Property and have Fully Read a copy of these "Real Estate Auction Terms and Conditions".
*Purchaser acknowledges and agrees to be bound by all of these Real Estate Auction Terms and Conditions and acknowledges that they cannot be altered except in writing and signed by all parties to the purchase contract.
*Indemnification: Purchaser agrees to indemnify Auction Plus, Inc. and King Realty, its affiliates, and/or clients for any damages or losses. Purchaser further agrees they will not hold Auction Plus, Inc. or King Realty, its owners, affiliates, clients, or its employees, liable for accidents, injury, theft, or incidents related to this purchase.
*Purchaser agrees that any disputes will be resolved in Cuyahoga County, Ohio in the Common Pleas Court.
*OPEN HOUSE & INSPECTION: Property Available For Viewing at OPEN House(s) Scheduled for Saturday May 3, 2025 1pm-3pm and Monday May 12, 2025 11am-1pm with Agent/Auctioneer Onsite Or by Scheduled Viewing Appointment. Bidders or Real Estate Agents, please Call or Text Warner L. McConaughey Realtor/Auctioneer King Realty at 440-554-9853 to Schedule appointments for Showings.
* There is a Buyer Broker Commission Being offered on this Real Estate Auction ON THE HIGH BID AMOUNT ONLY OF YOUR CLIENT and ONLY IF your client is the Winning Bidder AND Seller Confirms and Accepts the High Bid. Call Agent for details. Broker/agent MUST have a "Buyer Broker Registration Form" on File with Auctioneer/Auction Company NO LATER than 48 Hours Prior to the Close of the Online Only Auction. To obtain a Buyer Broker Registration Form Contact, Warner L. McConaughey, Realtor/Auctioneer King Reality /Auctions Plus, Inc. at 440-554-9853.

Online Only Auction. Commercial Corner Property Opportunity - Parma Heights, Cleveland Suburb An excellent investment opportunity awaits in the highly desirable Parma Heights suburb of Cleveland. This 2,173 SQFT commercial property, most recently operated as a Drive-Thru Beverage Store since 2016, was formerly an automotive garage-offering flexibility for a wide range of commercial uses. Key Property Features: " Corner Lot Location with prime visibility " Located on a high-traffic road with 15,000+ vehicles daily " Includes large overhead doors and drive-thru bays " Built in 1990 (per owner) " Lot Size: 0.2857 acres " Zoning: Commercial " Exterior: Concrete Block/Stucco with Flat Roof " Utilities: City Water & Sewer, Gas Heat " Annual Taxes (2024): $7,237.98 " Partial Walk-out Basement " Separate Office & Bathroom " Paved Parking Area Liquor Licenses: Current ownership holds transferable licenses (available at additional cost): " C1 - Beer " C2 - Wine & Mixed Drinks " D6 - Sunday Sales These can be transferred to new ownership if the winning bidder chooses to continue operating as a Drive-Thru Beverage Store. Community Highlights: " Parma City School District " Median Home Value: $243,400 " Median Household Income: $85,395 This versatile property is ready for your next business venture-whether continuing as a drive-thru, opening retail or automotive service, or launching something entirely new. Please be sure to read the Terms and Conditions of this Commercial Real Estate Auction carefully.