TERMS AND CONDITIONS OF SALE

REAL PROPERTY LOCATED AT

5557 ELLERY-CENTRAILIA ROAD, TOWN OF ELLERY

COUNTY OF CHAUTAUQUA, STATE OF NEW YORK, 

IDENTIFIED AS: ALL OF TAX PARCEL: SECTION 265.00  BLOCK 1 LOT 15

                WILL BE OFFERED FOR SALE AT PUBLIC AUCTION

ON SATURDAY, SEPTEMBER 12, 2020. BIDDING TO BEGIN AT 3 PM

Auction Parcel: (All measurements & acreage is approximate)

25 acre rectangular piece of land (420’ wide x 2595’ deep) with a ranch style home, attached two car garage and cold storage building with 420’ of road frontage on Ellery-Centrailia Road.

(1.)  This property is being offered for sale “AS IS, WHERE IS”, with no guarantees or warranties of any sort, either actual or implied, including but not limited to the septic/sewer, water system, plumbing, heating, electrical, interior and exterior of all buildings, any fixtures, and the land. The Purchaser will pay for a Chautauqua County health department septic and water test at closing and will pay for any and all repairs or updates if required by Chautauqua County.

(2.) All property boundaries are approximate, and no guarantees of any kind are given with respect to the acreage shown on tax maps or referred to in any existing deeds, surveys, or sale literature. If a land survey is required or desired, it will be the responsibility of Purchaser to order and pay for prior to closing. 

(3.)  Prospective Purchasers are responsible for inspecting the property, being knowledgeable about its physical condition and any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, and understanding closing costs and fees, PRIOR TO THE AUCTION.

(4.)  The sale will be subject to the approval of the Seller within 48 hours of the auction. The Seller reserves the right to accept or reject any and all bids, for any reason whatsoever.

(5.)  The successful high bidder will immediately sign a Contract for Sale of Real Property and will place the following deposit of $7,500.00 in the form of cash or good check with  Peterson Auction & Realty LLC to be held in their escrow account until closing. 

(6.)  The deposits will NOT be refunded if the sale is not completed due to the default of the Purchasers for any reason and therefore will be forfeited to the seller.

(7.)  The deposits WILL be refunded in full to the Purchasers if the sale is not completed  due to the default of the Seller for any reason.

(8.)  The BALANCE will be due AT CLOSING, ON OR BEFORE November 12, 2020. POSSESSION will be granted at closing. 

 (9.)  The Seller shall furnish an INSURABLE TITLE to the Purchaser, free and clear of any liens or encumbrances, subject to any leases, easements, rights of way, or deed restrictions of record. All sellers’ oil, gas, mineral, & timber rights will be conveyed to the purchasers at time of closing. 

(10.)  CLOSING COSTS - The Seller will pay for the Title Search update. Purchaser will pay for Revenue Stamps, TP 584 Filing Fee, Deed Recording Fee, RP5217 Filing Fee, and any costs in obtaining financing. Each will pay own attorney fees.

(11.)  ALL PROPERTY TAXES will be PRORATED as of the CLOSING DATE. 

(12.)  Seller and/or Auctioneer reserve the right to cancel the auction for any reason prior to set auction date.

(13.) Michael W. Peterson is acting only as Sales Agent for the Seller, and has no personal interest in the property. 

ANY  ANNOUNCEMENTS  MADE  BY  THE  AUCTIONEER  ON  THE  DAY  OF  THE SALE  WILL  TAKE  PRECEDENCE  OVER  ANY  PRINTED  MATERIAL. THE SELLER AND HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.

SELLER: Thelma A Dowd/ Ralph J Dowd, POA

ATTORNEY: TBD

BROKER:      Michael W. Peterson,  Peterson Auction and Realty LLC

                    Broker License#: 10491210026

                   164 Ivory Street, Frewsburg, New York 14738

                   Telephone:  716-665-0668             Fax:  716-661-9629

                    E-mail: peteauction@hotmail.com   Web Site:  www.petersonauction.com