ABSOLUTE REAL ESTATE AUCTION 4985 BIG RUN SOUTH GROVE CITY, OHIO 43123.
Office address 9132 SR 62 suite B Orient, Ohio 43146
johnrogersnetwork@gmail.com
mobile 614 499-5257
ABSOLUTE REAL ESTATE AUCTION FRIDAY MAY 20TH, 2022 AT 5PM
Real Estate Exclusive Right to Sell Agreement Addendum A
AKA Buyer’s Terms & Conditions
Details and Information
The auction is located onsite at the property and the house will be open to preview beginning at 2pm
Agents need to have their clients sign an agency disclosure statement to be eligible for the 3% buyer's agent commission
All buyers can be registered the day of the auction and a personal or business check is needed for the non-refundable down payment and personal government issued photo ID
Terms and Conditions below apply
Septic inspection documents attached. Septic tank has aeration, chlorination and filtration. The aerator pump needs to be replaced.
See photos attached.
Re: This addendum constitutes the entire addendum to complete paragraph # 2 of the exclusive right to sell agreement for 4985 Big Run South Grove City, Ohio 43123. Parcel ID #’s: 240-006577-00
Buyer’s Terms and Conditions:
This is an Absolute Real Estate Auction and a buyer’s premium of 10% (minimum $5,000 whichever is greater) for buyers not represented by a real estate agent and 13% (minimum $6,250 whichever is greater) for buyers represented by a real estate agent and sells AS-IS without contingencies whatsoever.
High bid plus buyer’s premium will constitute the total purchase price. The winning bidder will then make a total down payment of $5,000 as a non-refundable down payment to the assigned Title Company. The down payment will be a $5,000 personal or business check made payable to assigned Title Company. Down payment will be given back to the buyer when said buyer closes within the terms of this contract. If the buyer defaults and does not complete the transaction according to agreed terms, the down payment will be split 50/50 with Key Realty brokerage and seller within the terms of the listing agreement. If a default occurs, auctioneer will contact the backup bidder to offer “position of primary contract” within the terms of the auction. If the backup bidder declines a secondary auction will be held under the same terms and conditions as the first auction. Each registered bidder must have a State issued photo Identification and register by signing the “Auction Registration Form” and “Terms & Conditions Form”. All registered bidders must sign a letter of Irrevocable Instructions disclosing the down payment as non-refundable. Auctioneer may make changes to terms and condition within his fiduciary responsibility to the seller (client), in the best interest of the client. If changes are made, they must be reduced to writing and signed by both parties, (buyer and seller). If the high bid is $100,000 the buyer’s premium is $10,000 (without an agent representing the buyer) or total purchase price as $110,000 and $13,000 (with an agent representing the buyer) the total purchase price is $113,000. The non-refundable down payment is still $5,000. The winning bidder may ask for an extension and if agreed by the seller, buyer agrees to and will pay a $500 per diem split 50/50 with the broker and seller prior to the extension period. All closing costs are the buyer’s responsibility. No Tax credits or proration given to buyer.
Once a bidder has met the requirements to bid and then becomes the winning bidder (he/she) will sign all necessary contracts and submit a personal/business check for $5,000 at the moment of signing contract to the assigned Title Company. The winning bidder(s) will then have 30 days from the date of the live auction event to close the transaction with assigned Title Company. This exclusive listing agreement, terms and conditions shall be binding upon the parties, their heirs, administrator, executors, successors of interest and assigns.
Real Estate agents that want to be eligible for representing a prospective bidder and the subsequent co-op commission 3.0% (minimum of $1,250) must register their contracted client by faxing, presenting or scanning & emailing a buyer signed Agency Disclosure Statement showing their agent of record to John Rogers at fax - 614 635-2652 or scan and email to johnrogersnetwork@gmail.com before the final bid is accepted and the auctioneer declares the property is sold.
John D. Rogers II | Realtor ™, Licensed Real Estate, Licensed Auctioneer, Certified Personal Property Appraiser (CAGA)