DeGarmo Auctioneering & Appraisal Services, Ltd.

Real Estate Auction Terms & Conditions.

Daniel DeGarmo is a licensed Ohio Real Estate Salesperson brokered through ERA Martin & Associates, Chillicothe, OH.

1.    DEFINITIONS: In these Real Estate Terms, the “Seller” shall refer to the consignor of the Real Estate Property and the “Buyer” shall refer to the bidder offering the highest bid accepted by DeGarmo Auctioneering & Appraisal Services for the Real Estate Property in a Live Auction Event.

2.    AUCTION EVENT: In addition to online auction bidding, there will be a live auction event held on March 4, 2023 at 12:00pm located at 62174 Chillicothe St. Hamden, OH.

3.    CASH SALE: This is considered a cash sale and is not contingent on the Buyer’s ability to obtain financing. If Buyer is financing it must be pre-arranged.

4.    OPEN HOUSES: Sunday, February 19^th from 2pm to 4pm.

5.    ROLES: Auctioneer will receive bids from any registered bidder, including online and live auction platforms. Bidders will be identified by number rather than by name to expedite the auction.

6.    MINIMUM BID: Unless expressly noted in the listing type, the Real Estate Property shall be sold to the highest bidder with a minimum/starting bid of $185,000.

7.    AS-IS: The real estate property is being sold “as is” with no contingencies than those stated in the sales contract. All information provided is to be utilized strictly as a guide as no liability exists for any errors or omissions in any printed or oral material provided. Buyer is relying solely on their own independent investigations, inquiries, and inspections and will be bidding accordingly.

8.    DUTIES OF WINNING/HIGHEST BIDDER: The successful bidder shall:

a.       Execute the sales contract/agreement of purchase immediately after being declared the high bidder.

b.       Tender the required deposit of $5000 at the time of the sale in the form of cash or check. Balance due at closing.

c.       Pay all closing costs allowable under state law including transfer of taxes.

d.       Settle the purchase agreement within 30 days of the auction.

9.    BUYER’S PREMIUM: A 10% buyer’s premium ($5000 minimum) shall be added to the final bid price to calculate total contract price.

10.  COMPLETION BY LEGAL REPRESENTATIVE: Completing and closing of all real estate transactions will be handled by legal representatives appointed by the Seller and Buyer, acting on behalf of the Seller and Buyer, respectively.  All deposit, earnest and purchase monies in respect of the Property shall be paid to and deposited in trust with the legal representative for the Seller.

11.  CLOSING: Closing will take place within 30 days of the date of the auction or creation of a Binding Obligation, or such other date as may be mutually agreed by the parties. Buyer to close at the title company of seller’s choice.

12.  TAXES: Any and all applicable Federal, Provincial or State taxes (including property transfer tax, if applicable) must be paid by the Buyer in addition to the Purchase Price, at or before closing. Any and all applicable property taxes shall be paid at or before closing by the Seller and Buyer pro-rata based on the date of closing.

13.  BUYER’S BROKER COMMISSION: In order for a commission to be paid to a buyer’s broker, that agent must accompany the buyer throughout the auction. A commission of 4% of the hammer price at the auction will be paid to the cooperating broker at closing.

14.  T & C PRECEDENCE: Announcements made the day of auction may take precedence over these terms of auction or other printed material. Auctioneer is licensed by the Ohio Department of Agriculture and participates in the auctioneer recovery fund. An aggrieved person may initiate a claim against the auction recovery fund created in section 4707.25 of the Revised Code as a result of the licensee’s actions.

This beautifully remodeled property sits on 1.5 acres and boasts a lovely 3BR/2.5BA home. The 2 car garage is perfect for storage or keeping both vehicles out of the inclement weather!  It also has an updated and regularly maintenanced in-ground pool surrounded by a large entertainment area.  With a starting bid of only $185,000 this is a great opportunity to get the home you've been dreaming of at the price YOU DETERMINE!  Any and all questions can be directed to the auctioneer and listing agent - Daniel DeGarmo (740.412.7866). Email - degarmoproperties@gmail.com. This listing is brokered through ERA MARTIN & ASSOCIATES Chillicothe, OH  740.774.4500