Online Auction Ends Wednesday, November 20th, 2024 at 4 pm Preview Property in advance with a Licensed Realtor of your choice Visit apexrealestateauctions.com for all information and to participate in online auction. Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only. Disclaimer: Information contained herein is believed to be correct to the best of the auctioneer/agent’s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representative and auctioneer/agent shall not be PROPERTY INFORMATION PACKAGE apexrealestateauctions.com 7622 S. Sprinkle Rd, Portage MI 49002 - Auctioneer /Broker - James Bippus/Jessica Cooper

 

The information included herewith is a summary of information available from several sources, most of which have not been independently verified. The sources from which the information was gathered are believed to be reliable; however, all information contained within this package is subject to verification by all parties relying on it. No representations or warranties, expressed for implied, as to the accuracy or completeness of the information in this and/or other advertising materials shall be deemed made. No legal commitment or obligation shall arise, by reason of this package or its contents. This summary has been provided only of the use of prospective bidders for the ONLINE public auction Wednesday, November 20th, 2024 , at 12:00 PM EDST through Wednesday, November 20th, 2024 , at 4:00 PM EDST. Buyer must rely on his/her own information, inspection, review of public records and own determination to bid, consulting whatever advisors he/she may feel appropriate. A 10% Buyer's Premium based on High Bid Price applies to all APEX AUCTIONS & REAL ESTATE Auctions. 10% down payment based on High Bid Price is due immediately at the conclusion of the auction with signed contract. Seller provides a clear warranty deed, title insurance, tax pro-ration, and transfer tax. This is not a foreclosure sale of any kind. Other terms apply. APEX AUCTIONS & REAL ESTATE is a Michigan Licensed Real Estate Broker acting as agent of the seller.

 

SUBJECT TO PROBATE COURT CLOSING 45-90 days.

Seller will provide a warranty deed, transfer tax, tax proration, and title insurance.

 

APEX AUCTIONS & REAL ESTATE Real Estate Auction Terms & Conditions (NOT TAX SALES) YOU ARE URGED TO INSPECT THE PROPERTY BEFORE THE AUCTION The information provided is subject to inspection and verification by all parties relying on it. Buyers must rely solely upon their own inspections and determinations to bid. Property information provided by Seller or Auctioneer is not guaranteed. No liability for accuracy, errors or omissions is assumed by the seller or agents. All square footage, lot size measurements, and dimensions provided are approximate. No warranties or guarantees are expressed or implied. Seller's disclosure statement may be available prior to sale except on; lender owned, court supervised, and estate sales. Properties are sold "AS IS" "WHERE IS" and should be fully inspected prior to bidding.

CONDITIONS If you do not agree with any of the terms and conditions stated DO NOT BID. The terms of sale are nonnegotiable. The Auctioneer's decision is absolute and final in the event of a dispute over any matter. If there is a tied bid, the auctioneer will reopen the bidding. The auctioneer reserves the right to accept bids in any increments he feels are in the best interest of his clients and reserves the right to waive any previously announced requirements.

STARTING TIMES Live auctions only take minutes to sell a property. Please be prompt. There will be an explanation of the Auction Process and Terms and Conditions before each property is sold. When at the discretion of the auctioneer present, the auction is opened for bid, all property designated to be sold absolute will be sold to the highest bidder. All properties will be sold ON-SITE, RAIN OR SHINE, unless otherwise noted.

FINANCING INFORMATION Buyers are to obtain their own financing. No purchase is contingent upon financing.

BROKER PARTICIPATION Cooperating Brokerage is encouraged with licensed real estate brokers. A commission of one to three percent (1-3%) will be paid by APEX AUCTIONS & REAL ESTATE to a cooperating buyer's broker who registers the successful bidder who closes on the property. See the Registration form in the Property Information Package for details specific to this auction. (No commission will be paid if the bidder fails to close). Brokers must register his/her client/bidder either by email to contact@apexrealestateauctions.com or by text to 269-350-5166 with APEX AUCTIONS & REAL ESTATE and the broker registration form must be received no later than 4:00 PM EST on the last business day prior to the auction. On-line Auction registration must be submitted before published conclusion of the auction. Registration must be on the broker registration form provided by APEX AUCTIONS & REAL ESTATE and must be signed by broker/salesperson and client/bidder. Additionally, the cooperating broker/salesperson must attend the auction with his/her client/bidder. Brokers acting as principals are not eligible for this commission. There can be NO EXCEPTIONS to this procedure and no broker registrations can be accepted at the live auction site on auction day. If there is a minimum commission or if the commission is reduced in negotiations, all parties shall share proportionately in this figure equally up or down on the same percentage basis. APEX AUCTIONS & REAL ESTATE shall have full and complete control with regard to commissions negotiated with Seller.

LIVE AUCTION BIDDER REGISTRATION AND DOWNPAYMENT REQUIREMENTS Cashier's check, certified check (made payable to yourself) in the amount of $5,000.00 must be shown at registration. The high bidder will turn the certified funds shown at registration over as part of your deposit; if you are not the high bidder; simply re-deposit your check back into your bank account. ³ An escrow deposit of 10% of the contract price is required of the winning bidder at the conclusion of the auction. The balance of your deposit may be paid with a personal or business check. ³ The minimum deposit is $5,000.00

ON-LINE AUCTION BIDDER REGISTRATION AND DOWNPAYMENT REQUIREMENTS Registration to bid requires a deposit made by credit card authorization in the amount of $2,000.00 to be held at registration. If you are the high bidder, you will turn the $2,000 received at registration over as part of your deposit; if you are not the high bidder; funds will be credited back to your credit card account. ³ A down payment escrow payment of 10% of the contract price is required of the winning bidder at the conclusion of the auction in cash, personal, business check or cashier’s check. The minimum deposit is $2,000.00.

ON-LINE AUCTION END OF SALE PROCESS Immediately after the bidding ends the auction company will contact you by phone and email to confirm and congratulate you on being the winning bidder. We will make arrangement for you to deliver in person or overnight mail the down payment and the signed contract to us. Contracts are signed and the down payment is made at the close of the auction. Your failure to sign contracts and make the 10% deposit immediately at the conclusion of the auction will forfeit your winning bid status. Any winning bidder that fails to complete the signing and down payment requirements will be charged a $2,500 non-refundable Internet Service Fee on their credit card.

ADDITIONAL TERMS FOR PROPERTIES A 10% Buyers Premium will be added to the final bid and included in the contract price. ³ A published "suggested opening bid" and "opening bid" auction is sold with reserve and subject to seller confirmation. ³ Seller will furnish deed, free and clear of liens. ³ Seller to provide title insurance, transfer tax, and prorated property taxes based on where property is located. ³ Buyer and Seller will split the title office closing fee ³ OTHER This auction is conducted by acting as auctioneer/listing real estate broker. APEX AUCTIONS & REAL ESTATE is solely responsible for the terms and conditions of the auction and the manner in which it is conducted. Announcements made sale day or sale ending day take precedence over previously disseminated material. Listing may be withdrawn or modified without notice at any time. All rights reserved.

 

APEX AUCTIONS & REAL ESTATE Frequently Asked Questions Regular Real Estate Auctions (not applicable to tax sales) “Winners don’t dawdle, dither, or delay. Winners Act.” John Bippus

• If I win the bid, when is the ten percent down payment due? Live auction: The down payment is due, and the contract is signed at the conclusion of the bidding. On-line auction: Immediately after the bidding ends the auction company will contact you by phone and email to confirm and congratulate you on being the winning bidder. We will make arrangement for you to deliver in person or overnight mail the down payment and the signed contract to us.

 

• Why is the property being sold at auction instead of using the ordinary listing method? Some owners require an accelerated sale for various reasons including, foreclosure, divorce, bankruptcy, estate settlement, transfer, surplus disposal or corporate liquidation. Our Clients need to know when their property will be sold.

 

• Why sell at auction? To sell on a known date, with the maximum number of interested parties present, and prepared to purchase on the day of the sale.

 

• What is the minimum or starting bid? If the property is designated as an absolute property: the property will be selling to the highest and last bidder regardless of price. The bidders will start the bidding. If the property is not designated as an absolute property: the sale is subject to seller confirmation. In the event there is no minimum bid, and/or no suggested opening bid: the bidders will start the bidding. The final bid is subject to seller approval and or probate court approval. The seller is very motivated, and APEX AUCTIONS & REAL ESTATE expects to sell the property on auction day. (NOTE: the seller reserves the right to make the sale absolute day of sale.)

 

• What will the house/property sell for? It is not possible to give a correct answer. It all depends on the bidders on the day of auction.

 

• How much will the house/property bring? There is no way of predicting the selling price prior to the day of sale. Neither APEX AUCTIONS & REAL ESTATE nor any Realtor is able to accurately predict the outcome of a sale.

 

• How much is the house/property worth? A current appraisal or the last list price may give a guide.

 

• What is S.E.V.? State Equalized Value and Assessed Value are essentially the same thing. They are calculated at 50% of market value by the tax assessor.

 

• What about title? Will I buy a property with unpaid taxes or liens? What is the mortgage? The properties are sold with insurable title, no liens, judgments, mortgages or back taxes. If the title cannot be cleared and insurable title delivered the down payment will be refunded to the buyer. There are no assumable mortgages on auction properties. If a property has a mortgage, and the price comes in below the mortgage, the seller will bring cash to closing to pay off the mortgage.

 

• If I can't be present at the auction can someone bid for me? Can I bid by telephone? Yes. You may appoint a representative to bid on your behalf or APEX AUCTIONS & REAL ESTATE offers remote bidding by telephone for both live and on-line auctions.

 

• Can I make an offer before the auction? You will have to ask the auctioneer about the specific property you are interested in. You must be prepared to tell the auctioneer the price you are willing to offer when you ask. We will not provide you a price. We will write the offer and present it to the owner for acceptance. Terms and Conditions of the auction should be followed. We recommend that you make your best offer at this time.

 

• What happens if the high bidder fails to close?

APEX AUCTIONS & REAL ESTATE may notify the back-up bidder to secure a new purchase agreement. The property may also be made available to other registered bidders and the open market.

 

• What guarantees are there? The seller provides title insurance and a warranty deed at closing, guaranteeing insurable title, clear of liens. The real property is sold "as-is". Any inspections must be completed prior to the auction. You are relying on your own inspections and determinations to bid. Personal property is not included in the sale and may or may not be removed prior to closing. In most cases personal property that remains after the closing becomes the property of the new owner.

 

• What is the Buyer's Premium? The buyer's premium becomes part of the purchase price. Ten percent will be added to the bid to become the total cost of acquisition.

 

• Is there any financing? No. The buyer is responsible for their own financing. Many of our buyers close with financing. If you win the bid and plan to close with financing let us know. We will work with your lender to aid them in getting the transaction to closing.

 

• Who is responsible for municipal inspections? It is the buyer’s responsibility to pay for and obtain all required municipal inspections, make required repairs, and obtain any certificates of occupancy, including payment for the same.

 

• This is my first auction, what should I do? First, we recommend that you call your lender and pre-qualify. Then check out the values in the neighborhood and inspect the property. Set a range of value or limit for your bidding and be prepared to bid up to that limit. For a live auction: Arrive early at the auction-site to register and get to know the auction staff. Get comfortable and relax. Listen closely to the Auctioneer. Raise your bid card to signal a bid. The Auctioneer will use his rhythmic "chant" to call bids. Bid assistants will be available to help you. Don't be bashful or you may miss a great opportunity.

 

• How long will the auction last? Live auctions take only a few minutes and start precisely on time. It is advised that bidders arrive 15 to 30 minutes before sale time.

 

• How big is the response to auctions? How many people show up or bid on-line? There is no way to predict this. You never really know how many bidders will participate.

 

AUCTIONEER'S NOTE: If you are interested in an advertised property, whatever price you have in mind, BippusUSA.com strongly encourages you to participate in the auction. The process doesn't take long and it can be fun. We are not in this business for practice, at the end of the sale someone will be the lucky winning bidder. Why shouldn't it be you! “Winners don’t let what they can’t do get in the way of what you can do.” John Bippus These are typical and general Q&A. Specifics are listed in each property information package. This auction is conducted by APEX AUCTIONS & REAL ESTATE acting as auctioneer/listing real estate broker. APEX AUCTIONS & REAL ESTATE is solely responsible for the terms and conditions of the auction and the manner in which it is conducted. Announcements made sale day or sale ending day take precedence over previously disseminated material. All rights reserved.