This auction is a multi-tract auction. This means that you will be able to bid on multiple tracts for one bid price. The first round of bidding must be by the tract.
•All bidders must be preapproved to bid on the auction. To achieve preapproval, you must register for the auction on our bidding platform, provide proof of funds, and be in good standing with the auction company. All bidders must register on the online platform by 10am day of auction. Any registrations after 10am will be at the auctioneer’s discretion to approve or not approve bidders.
• The auction will have a buyer’s premium of 10% added to the final bid price.
• The property is NOT being subject to sale before the auction. All offers should be made as a bid on the bidding website.
• The property sell AS-IS with no warranty expressed or implied
• Down Payment of $10,000 Per Tract is required to be arranged by the buyer within 2 hours after of the closing bid. This can be paid via certified funds, wire transfer.
• Property is being sold with NO inspections or appraisals
• This auction will have a soft close. Any bids turned in within 5 minutes of the auction closing will extend the bidding process another 5 minutes. Auction will close after there is no bidding within a 5-minute time period.
• Any winning bidder(s) will be required to sign a purchase agreement day of auction closing.
• Bidding increments are set by the auction company. All bidders will be required to bid accordingly to the set increments.
• The closing date must take place within 30 days of the auction closing. Cash buyers are required to close within 10 days
• Closing Dates are NOT contingent upon financing.
• Any inspections, appraisals, or previews of the property must be done before the auction closing date. No previews will be offered for the property on the auction closing day.
• Please reference the purchase agreement for questions on taxes, AS-IS, inspection / appraisal, closing times, earnest funds, and other information.
• Property is being sold subject to sellers’ confirmation (sells with reserve). Highest and/or best bid could be accepted by the seller. Seller could accept a cash offer that is less than a financing highest bid.
• Closing will be held at John Bethell Title Company 2626 S Walnut St Bloomington, IN 47401
• This auction will be offering a “Swing Tract” Tract #3 will only be able to be purchased by a buyer of either tract #1, tract #2, or adjoining property owners.
• All bids placed online are considered legal and binding offers.
Broker Participation Terms, and Forms can be found under the document tab
