ONLINE REAL ESTATE AUCTION TERMS & CONDITIONS @ www.BidNow.us:

1.     Online Bidding – All bidding will be done Online and is open to the public @ www.BidNow.us.  Anyone can watch the bidding throughout the 8-day auction period.  Bidders will be required to register for a bidder number unless they are already a current online registered bidder @ www.BidNow.us.  Albrecht Auction reserves the right to call a bidder at any time during the auction to question the person’s credentials.  Albrecht Auction reserves the right to reject a bid/bidder if believed to be in the best interest of the Seller.

2.     6% Buyer’s Premium:  A 6% buyer’s premium will be added to the final bid price and become part of the purchase price.

3.     Acceptance of Bid:  The Seller has the right to a 24 hr. confirmation period to accept the offer following the auction.  Albrecht Auction will notify the high bidder of bid acceptance during the 24 hr. period.

4.     Phone Bidding:  This is an Online Auction but buyers can place bids over the phone w/ Albrecht Auction if they have made prior arrangements. You can also make arrangements to bid on our computers at the office in Vassar on Tuesday, June 25^th while the Auction is closing at 6:00 p.m.  Call for Details 989.823.8835 and ask for Drew.

5.     As-Is Where-Is:  The real estate is being sold in the ‘As-Is, Where-Is’ condition with no expressed or implied warranty of any kind. *See Seller’s Disclosure Form for the condition of the property*

6.     Inspections:  See Open House dates for home on website.  All inspections must be done prior to purchase. Winning bidder will be required to sign a waiver to a lead base paint inspection, as well as signing the Seller’s Disclosure Form.

7.     Earnest Money Deposits:  The successful bidder must deposit within 48 hours the earnest money deposit in the form of personal or business check, cashier’s check or certified check in the following amount: 10% deposit of high bid. The deposit will apply to the purchase price at closing.  Your bidding is “NOT” subject to obtaining financing.  Deposits are non-refundable, so be sure your financing is arranged or you are capable of paying cash at closing.  

8.     Closing:  The closing will be handled by Mid-State Title Services, Inc. of Vassar, MI.  The successful bidder will be required to sign the purchase agreement immediately upon acceptance of offer.  The 10% earnest money deposit will be held by the title company.  Closing to be within 45 days following the auction or as soon thereafter as applicable closing documents have been completed. Note: If you need more than 45 days to close, please call to discuss prior to bidding.  Call Drew @ 989.823.8835.

9.     Possession: Possession of the buildings and home at closing. Possession of the ground takes place after the seller takes off this season’s cuts of hay. (Approximately 3 cuts, wrapping up by end of August). Boulder in front yard, farm gates and 120-mile fencer NOT included. 15-mile fencer and gates ARE included. The manure pile will be spread after the final cut of hay is removed.

10.  Title:  Seller shall provide an Owner’s Policy of Title Insurance to the purchaser.

11.  Terms:  Cash or Conventional Mortgage at closing.

12.  Acreage:  All acreages, dimensions and boundaries are based on FSA maps, aerial photos and legal descriptions.

13.  Survey: If a survey is performed and acreage amounts change, it will not affect the sale price. The land is being sold by the parcel, not by the acre.

14.  Division Rights - Mineral Rights: All division rights (splits) will transfer to the buyer. All mineral rights owned will transfer to the buyer. 

15.  Property Taxes:  Will be current and prorated to the date of closing per local custom.  Any special assessments would be current and assumed by buyer.

16.  Transfer Taxes:  State and County Transfer Taxes will be paid by the Seller.

17.  Easements: Sale of property is subject to any and all easements of record. 

18.  Agency:  Albrecht Auction Service, LLC and its representatives are Exclusive Agents of the Seller.

19.  Announcements:  Announcements made on the website will take precedence over printed and/or verbal statements.   Information in the flyer and other printed materials has been obtained from sources deemed reliable but the seller and/or Albrecht Auction Service, LLC makes no guarantees as to its accuracy.    The seller, broker and auction company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc.  All decisions of the auction company are final.  If there would be a malfunction with the server which hosts the online auction, Albrecht Auction reserves the right to re-open or extend the auction until the problem is corrected.

20.  It is illegal to discriminate against any person because of religion, handicap, race, sex, family status or national origin.

6% Buyer’s Premium:  A 6% buyer’s premium will be added to the final bid price and become part of the purchase price.

Location: 1241 N Farley Rd, Essexville, MI 48732: Located in Section 21, Hampton (E) Twp. Bay Co.

From Munger: North 5 Miles off M-138, North 1/2 Mile off M25 on Farley Rd.

From Bay City: East 3 1/2 Miles on M25, North 1/2 Mile on Farley Rd.