Online Auction Terms and Conditions of Sale
Address: 213 North Ohio Ave. Sidney, Ohio 45365
Parcel: Shelby County Parcel #'s 01-18-36-204-014, 01-18-36-204-011
Sale Date: Bidding will open June 3rd. 9:00 A.M. and begin ending with a soft close with extended bidding at 2:00 June 3rd.
Buyers' Premium: 10%
Closing Date: On or before July 3rd. 2025
Opening Bid: $ 60,000.00 Selling with owner confirmation.
1. Bidders must do all of their due diligence (inspections, appraisals, etc.) before the end of the online bidding. The Sales Contract (Memorandum of Auction Sale Agreement) will not contain any contingencies. This property is sold AS IS, WHERE IS, and is not subject to any financing. Please view the Sample Memorandum of Auction Sale Agreement in the documents section of the information page for any additional or auction-specific Terms.
2. The winning bidder must execute the Memorandum of Auction Sales Agreement within 24 hours of notification of bid acceptance. This will be via electronic signature. A non-refundable deposit in the amount of $ 5,000.00 shall be made payable to Gay Smith and Associates. This deposit shall be returned to the purchaser upon successful closing of the property. If the seller fails to perform by the stated terms, this deposit shall be paid to the seller, and the auction sale terminated; furthermore, the defaulting bidder may still be liable under Ohio Law for damages to the Seller
3. If another bidder outbids you, you will receive an email and text notice so you can return and increase your bid if you so desire.
4. The bidding will be open, and everyone will have access to the bid history during the auction.
5. As the auction nears the ending time, it will auto-extend until bidding is silent for 5 minutes.
6. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
7. The high bidder will be notified via email or phone within 2 hours after the auction ends of acceptance of the high bid.
8. Bidders have been advised to physically inspect the property on their own behalf.
11. The property will be auctioned in an “AS-IS, WHERE-IS” condition as of the date and time of sale. Vondenhuevel Auctioneers LLC, Gay Smith/Associates Realty, nor the seller(s), their agents, employees, or representatives make any expressed or implied warranties of any kind concerning the property and this sale.
12. The information listed in materials describing the property is obtained from sources deemed reliable but not guaranteed. It is the bidder’s responsibility to verify all property information before bidding and the sale. The decision to purchase or not purchase the property is each bidder's sole and independent business decision. Auctioneer assumes no responsibility for the property's condition or any party's performance of this Contract. Purchaser hereby warrants and represents that Auctioneer has not made any statements, representations, or warranties regarding the condition of the premises, zoning conditions, governmental requirements, or environmental matters, guarantees, or warranties of the like, upon which Purchaser has relied and which are not contained in the Contract. Vondenhuevel Auctioneers LLC shall not be responsible or liable in any way if the owner fails to honor the bid, refuses to settle, or cannot close per the Sales Contract.
13. Vondenhuevel Auctioneers reserves the right to withdraw any property from sale and may cancel any auction sale before bidding.
14. Bidding increments are made in amounts acceptable to the Auctioneer, who may set a minimum bidding increment as the sale progresses. The Auctioneer may reject any bid if it is merely nominal or, at his or her discretion, it may negatively affect the auction process. Auctions will be either Absolute or Reserve. If this is an Absolute Sale, the high bidder shall be the Purchaser. If this is a Reserve sale, the seller may accept or reject the high bidder; however, if the bid exceeds the predetermined Reserve Price, the auction will become an Absolute auction and be sold to the high bidder.
15. In the event of a dispute between bidders, the Auctioneer may, in its discretion, determine the successful bidder or re-offer the property for sale.
16. A Buyer’s Premium of 10% or $5000.00, whichever is greater, will be added to the high bid and due from the winning bidder. The Buyer’s Premium is in addition to the winning bid, and when added together with the winning bid, this figure represents the Final Purchase Price to be paid by the purchaser at settlement.
17. Settlement is to occur within Thirty (30) calendar days of the auction sale date. The purchaser should secure any necessary financing if required.
18. By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders shall be deemed to have consented to the jurisdiction of the State and Federal courts of the State of Ohio.
19. The purchaser will pay the cost of all documentary stamps, transfer taxes, and other costs incident to settlement.
20. Vondenhuevel Auctioneers LLC may accept telephone bids from registered bidders. Phone bids will be placed online under “Phone Bidder”.
