BURGESS AUCTIONS LLC
Trusted Auctions, Timeless Results.
540 Delbrick Lane, Indianapolis, IN 46229
Terms & Conditions of Sale
1. Property
540 Delbrick Lane, Indianapolis, IN 46229 (Marion County, Warren Township), together with all improvements thereon, sold by order of the Willits Guardianship ("Seller").
2. Auction Date, Time & Format
Friday, October 9, 2026, at 12:00 Noon. The auction will be conducted live on-site at the property with simultaneous online bidding available through BidBurgess.com (powered by Marknet). Bidders may register to bid in person or online.
3. Type of Sale
This is a SELLER CONFIRMATION AUCTION. Bidding will proceed to the highest bid, but the sale is subject to acceptance and confirmation by the Seller, through its duly authorized Guardian/Power of Attorney, immediately following the close of bidding at the auction. The Auctioneer will announce the Seller's decision to accept or decline the high bid before bidders are released. If the Seller confirms and accepts the high bid, the high bidder must immediately execute the Agreement to Purchase Real Estate at Auction and deposit the earnest money required herein. If the Seller does not accept the high bid, no sale occurs, no Agreement to Purchase shall be executed, and no earnest money is collected.
4. Opening Bid
Bidding will open at $150,000. This opening bid is set to generate interest and competitive bidding and does not represent an appraised value, reserve price, or reflection of the property's expected sale price.
5. Buyer's Premium
A 10% Buyer's Premium will be added to the final high bid to determine the total contract purchase price, regardless of bidding method (on-site or online).
6. Earnest Money Deposit
Once the Seller has confirmed and accepted the high bid, the high bidder must immediately execute the Agreement to Purchase Real Estate at Auction and deposit $5,000.00 in the form of cash, cashier's check, or certified funds made payable to and held in escrow by Fidelity National Title. This deposit is non-refundable. Online bidders will be contacted immediately following Seller's confirmation to remit the deposit and execute the purchase agreement.
7. Balance & Closing
The balance of the total contract purchase price is due in full at closing. Closing shall occur within 30 days of the auction date, on or before November 8, 2026, at a title company designated by the Auctioneer/Seller. Buyer shall be responsible for their own closing costs and any lender-related fees, if applicable; Seller shall provide and pay for an owner's title insurance policy and shall pay Indiana transfer tax, if any. Seller has paid the May 2026 installment of real estate taxes. Buyer shall be responsible for all real estate taxes due and payable thereafter, including the November 2026 installment and all subsequent installments; there shall be no proration of taxes between Seller and Buyer.
8. Financing
This sale is NOT contingent upon the Buyer obtaining financing, an appraisal, or a satisfactory inspection. Prospective bidders are strongly encouraged to arrange financing and complete all due diligence prior to auction day. Failure to close for any reason, including failure to obtain financing, will result in forfeiture of the earnest money deposit.
9. Condition of Property / As-Is Sale
The property is being sold AS-IS, WHERE-IS, with all faults and without any warranty, express or implied, as to condition, habitability, or fitness for a particular purpose. Prospective bidders are encouraged to inspect the property prior to auction day during scheduled preview times or by appointment. Information contained in marketing materials, the Property Information Packet, and online listings is believed accurate but is not guaranteed, and Bidders rely on their own inspection and due diligence.
10. Title
Seller shall convey marketable title by Guardian's Deed / Warranty Deed (as applicable), subject to all easements, restrictions, reservations, and covenants of record, and subject to zoning and building ordinances, if any. Seller is acting through its duly authorized Guardian/Power of Attorney, who has full legal authority to confirm the sale and execute all documents necessary to convey title.
11. Broker Participation
A 3% broker co-op commission is offered to properly registered cooperating real estate brokers who represent a registered, winning bidder, per the terms of the separate Broker Participation Agreement. Brokers must register their buyer with Burgess Auctions LLC in advance of the auction and accompany their buyer at registration and bidding to be eligible.
12. Registration & Bidder Requirements
All bidders must register prior to bidding and provide valid government-issued photo identification. Online bidders must register through BidBurgess.com and may be required to submit a pre-approval or proof-of-funds letter and/or a refundable bidding deposit. By registering to bid, all bidders consent to receive calls, texts, and email communications from Burgess Auctions LLC regarding this and future auctions.
13. Auctioneer's Discretion
The Auctioneer reserves the right to group, regroup, add, or withdraw property, to reject any bid, to resolve any bidding dispute, and to establish bidding increments, all in the Auctioneer's sole discretion. Announcements made by the Auctioneer on auction day take precedence over any previously printed or published material, including this document.
14. Default
If the high bidder fails to execute the purchase agreement, fails to deliver the earnest money deposit, or fails to close as required herein, the earnest money deposit shall be forfeited to Seller and/or Burgess Auctions LLC as liquidated damages, and Seller reserves all other rights and remedies available at law or in equity, including reoffering the property at a subsequent sale.
15. Agency
Burgess Auctions LLC and its auctioneers represent the Seller in this transaction. J. Snider Real Estate is the listing broker representing the Seller. Cooperating brokers, if any, represent their own buyer-clients as set forth in the Broker Participation Agreement.
16. Governing Law
This sale and all related agreements shall be governed by the laws of the State of Indiana.
