TERMS AND CONDITIONS OF SALE
Online Real Estate Auction • 211 East North Street, Anna, Ohio 45302
These Terms and Conditions of Sale (the “Terms”) govern the online-only auction of the real property described below. By registering to bid and by placing a bid, each bidder (“Purchaser”) acknowledges having read, understood, and agreed to be bound by these Terms. Announcements made at or through the auction platform take precedence over any prior printed or oral statements.
1. THE PROPERTY
The Property is a single-family residential parcel located in the Village of Anna, Dinsmore Township, Shelby County, Ohio:
Parcel: Parcel 09-0528456.006 — 211 East North Street, Anna, Ohio 45302. Lot 253, whole, of Linden Park (Plat Volume 5, Page 58), a 95' × 165' lot containing approximately 0.36 acre, located within the Anna Corporation and the Anna Local School District.
The parcel is improved with a one-story conventional frame dwelling built in 1965 containing approximately 2,344 square feet of finished living area (approximately 2,688 total finished area) with eight (8) rooms, including three (3) bedrooms, one (1) full bath, and one (1) half bath; a partially finished basement of approximately 1,000 finished square feet; a one-car basement garage; and central heating and central air conditioning. The Property is offered and sold as one (1) unit and will not be divided.
2. ONLINE-ONLY AUCTION FORMAT
The Property is offered exclusively through an online auction conducted on Auctioneer’s platforms (bids.vondenhuevelauctioneers.com / vasbid.com). Bidding opens Tuesday, August 25, 2026 at 9:00 A.M. (ET) and closes Tuesday, August 25, 2026 at 2:00 P.M. (ET), subject to the soft-close feature described in Section 17. There is no live, in-person bidding. Registration, bidding, and all notices are handled through the platform.
3. BUYER’S PREMIUM AND FINAL CONTRACT PRICE
A buyer’s premium equal to ten percent (10%) of the final high bid will be added to the high bid to determine the total purchase price (the “Final Contract Price”). Example: a high bid of $150,000 plus a 10% buyer’s premium of $15,000 results in a Final Contract Price of $165,000. The Final Contract Price is the amount the Purchaser is obligated to pay.
4. METHOD OF SALE — RESERVE (SUBJECT TO SELLER CONFIRMATION)
This is a reserve auction. The Property is offered subject to a confidential reserve and to Seller confirmation. The high bid at the close of the auction constitutes an offer that becomes a binding contract only upon Seller’s acceptance. Seller reserves the right to accept or reject the high bid. The reserve amount is confidential and will not be disclosed.
5. BIDDER REGISTRATION AND ELIGIBILITY
All bidders must register on the auction platform and provide accurate contact and, where required, financial information prior to bidding. Registration and the placement of any bid constitute the bidder’s agreement to these Terms. Bids are not retractable. Bidders are responsible for their own bids, including bids placed in error. Auctioneer reserves the right to refuse or revoke registration and to reject any bid in its sole discretion.
6. EARNEST MONEY DEPOSIT
Within twenty-four (24) hours of the close of the auction, the successful Purchaser shall deposit earnest money of Five Thousand and 00/100 Dollars ($5,000.00) with Gay Smith and Associates Realty, to be held in its trust account. The earnest money is not applied against the Final Contract Price; the Purchaser shall bring the full Final Contract Price to closing. The earnest money is returned to the Purchaser at successful closing. Except as provided in Section 10 (uncured title defect), the earnest money is non-refundable, and if the Purchaser fails to close it is subject to forfeiture as provided in Section 16.
7. PURCHASE CONTRACT
Upon being declared the successful high bidder and upon Seller confirmation, the Purchaser shall execute the Memorandum of Purchase Contract in the form posted on the auction platform, without modification. The Purchaser’s failure or refusal to execute the Memorandum does not relieve the Purchaser of the obligation to complete the purchase, and Auctioneer may execute the Memorandum on the Purchaser’s behalf as the Purchaser’s agent for that limited purpose.
Notification of Seller’s Decision. Auctioneer will notify the high bidder of the Seller’s acceptance or rejection of the high bid within two (2) hours of the close of the auction, using the email address or telephone number provided by the bidder at registration. Bidders are responsible for providing accurate contact information and for monitoring it following the close of the auction.
Electronic Signature — DocuSign. The Memorandum of Purchase Contract and all related transaction documents will be transmitted for signature electronically through DocuSign. By registering and by placing a bid, each bidder consents to the use of electronic records and electronic signatures and agrees that a document executed electronically through DocuSign has the same legal force and effect as an original ink signature. Purchaser shall execute and return the Memorandum within twenty-four (24) hours of receipt.
8. CLOSING AND CONVEYANCE
Closing shall occur on or before September 25, 2026, at Lawyers Title Agency, Sidney, Ohio, which will serve as the title and escrow/closing agent. Seller shall convey marketable title by general warranty deed, free and clear of liens, subject only to easements, restrictions, and conditions of record and to matters that would be disclosed by an accurate survey or inspection. Time is of the essence as to the closing date.
Financing Is Welcome. Purchaser may pay cash, obtain a mortgage or other loan, or use any combination of funds Purchaser chooses. Neither Seller nor Auctioneer has any preference as to how the Purchaser funds the purchase. The only requirement is that the full Final Contract Price be delivered in cash or certified funds at closing on or before the date stated above. Financed buyers are encouraged to bid, and are strongly encouraged to have their loan approved and their lender committed to this closing date before placing a bid.
No Contingencies. Because the closing date is fixed, the sale is not contingent upon financing, appraisal, inspection, or any other condition. A Purchaser’s inability to obtain financing, or a lender’s failure to fund on or before the closing date, does not excuse performance, extend the closing date, or entitle the Purchaser to a return of the earnest money.
Delay in Closing. If closing does not occur on or before September 25, 2026 for any reason attributable to the Purchaser or the Purchaser’s lender, the Purchaser shall pay to the Seller a late-closing charge of Five Hundred and 00/100 Dollars ($500.00) per day for each calendar day beyond the scheduled closing date until closing is completed. The charge accrues automatically, is in addition to the Final Contract Price, and is payable at closing. Seller’s acceptance of any such charge shall not waive Seller’s right to declare the Purchaser in default under Section 16, and no delay caused by the Purchaser or the Purchaser’s lender shall be deemed an extension of the closing date.
9. CLOSING COSTS AND PRORATIONS
Purchaser shall pay all closing costs, including but not limited to the Ohio real property conveyance/transfer fee, recording fees, closing/escrow fees, and the premium for the owner’s title insurance policy. Seller shall be responsible only for preparation of the deed and for any expense necessary to deliver marketable title. Real estate taxes and assessments shall be prorated to the date of closing based on the most recent available tax figures, and thereafter assumed and paid by the Purchaser.
10. TITLE
Title Examination — Purchaser’s Responsibility. Every bidder is strongly encouraged to obtain a title examination, at the bidder’s sole expense, before placing a bid. Neither Seller nor Auctioneer will furnish a title examination, abstract, or title opinion to any bidder or to the Purchaser, and no bidder should assume that any such work has been performed on the bidder’s behalf. Any title information made available by Auctioneer or by Lawyers Title Agency is provided as a courtesy only, is not guaranteed, and is not a substitute for the bidder’s own examination.
Title Insurance. Seller shall furnish and Purchaser shall pay for an owner’s policy of title insurance in the amount of the Final Contract Price, issued through Lawyers Title Agency, Sidney, Ohio.
Title Defects and Cure Period. If a defect in title is disclosed, Seller shall have sixty (60) days from written notice of the defect within which to remedy it, and the closing date shall be extended as necessary for that purpose. If the defect is not cured within that sixty (60) day period, Purchaser may elect either to (a) proceed to closing and accept title in its then-existing condition without reduction in the Final Contract Price, or (b) cancel the purchase by written notice to Seller and Auctioneer, in which case the earnest money shall be returned to the Purchaser in full, this contract shall terminate, and neither party shall have further liability to the other. Return of the earnest money is the Purchaser’s sole and exclusive remedy for an uncured title defect.
11. POSSESSION
Possession of the Property shall be delivered to the Purchaser at closing and funding, free of tenancies.
12. PROPERTY CONDITION — SOLD “AS-IS, WHERE-IS”
The Property is sold AS-IS, WHERE-IS, and WITH ALL FAULTS, without any warranty or representation of any kind, express or implied, including without limitation any warranty of condition, habitability, merchantability, or fitness for a particular purpose. Purchaser acknowledges the opportunity to inspect the Property and to investigate all matters of concern prior to bidding and is relying solely on Purchaser’s own inspection and judgment. Open houses: Wednesday, August 12, 2026, 11:00 A.M. to 12:00 Noon, and Saturday, August 22, 2026, 11:00 A.M. to 12:00 Noon, or by appointment. Inspections are at the bidder’s expense and must be completed before bidding; there is no inspection contingency. Any property information provided by Auctioneer or Seller is believed accurate but is not guaranteed; bidders must verify all information to their own satisfaction before bidding.
13. REMAINING PERSONAL PROPERTY
Any personal property remaining on or in the Property at the time of closing shall become the property of the Purchaser, at no additional cost and with no adjustment to the Final Contract Price. Seller and Auctioneer shall have no obligation to remove such items and no liability with respect to them, and Purchaser assumes responsibility for their disposition.
14. AGENCY DISCLOSURE
Vondenhuevel Auctioneers LLC, by Justin Vondenhuevel, CAI, Auctioneer and Realtor® (Ohio Auctioneer License #57199671009; Ohio Real Estate License #432565), and Gay Smith and Associates Realty represent the Seller only in this transaction and owe fiduciary duties to the Seller alone. Neither the Auctioneer nor the Seller’s brokerage represents any bidder or purchaser. Bidders may retain their own representation; see Section 15 and the separate Broker Participation & Buyer Registration form for cooperating-broker terms.
15. BROKER PARTICIPATION
A cooperating fee of three percent (3%) of the high bid (the winning bid amount only, excluding the buyer’s premium) will be paid at closing to the registered agent’s brokerage when a properly registered buyer is the successful high bidder and closes. The cooperating fee is paid out of Auctioneer’s commission and is not an additional charge to the Purchaser or Seller. To qualify, the agent must register the buyer on the Broker Participation & Buyer Registration form before the buyer bids and must otherwise comply with that form, including the requirement that the agent attend all open houses and inspections with the buyer. Registration must be received no later than 5:00 P.M. (ET) on Monday, August 24, 2026 — the day before the auction closes.
16. DEFAULT
If the Purchaser fails to deposit the earnest money, execute the Memorandum of Purchase Contract, or close as required, the Purchaser shall be in default. Upon default, the earnest money shall be forfeited, and the Seller and Auctioneer may pursue any and all remedies available at law or in equity, including specific performance and recovery of any late-closing charges accrued under Section 8, any deficiency, costs, and reasonable attorney fees. Pursuit of one remedy shall not waive any other.
17. BIDDING TECHNOLOGY AND SOFT CLOSE
The auction uses an extended-bidding (“soft close”) feature: any bid placed within the final minutes of the scheduled closing time automatically extends the closing time until bidding activity ceases. Neither Auctioneer nor the platform provider is responsible for any failure of internet service, hardware, software, or power, or for any bid that is not received or recorded for any reason. Bidders bid at their own risk and are encouraged to bid early and to allow time for extensions.
18. ANNOUNCEMENTS AND LIMITATION OF LIABILITY
Announcements made at or through the auction platform take precedence over any prior printed or oral statements. Auctioneer reserves the right to add to, delete from, postpone, cancel, or otherwise modify the auction or these Terms at any time prior to the close of the auction by posted announcement. The liability of Auctioneer and Seller, if any, is limited to the return of the earnest money.
19. GOVERNING LAW
These Terms and the sale are governed by the laws of the State of Ohio and are subject to all applicable federal, state, and local laws. If any provision is held unenforceable, the remaining provisions shall remain in full force and effect.
OHIO AUCTION RECOVERY FUND
All auctioneers are licensed by the State of Ohio Department of Agriculture and participate in the Auction Recovery Fund, Ohio Department of Agriculture, 8995 East Main Street, Building 1, Reynoldsburg, Ohio 43068.
