Terms and Conditions of Real Estate Auction

Property: 6658 Ridpath Rd., Grove City, OH 43123
Sellers: Curtis & Phoebe Frazier
Auctioneer: Daniel DeGarmo, DeGarmo Auctioneering & Appraisal Services, Ltd.
Brokerage: ERA Martin & Associates, Mark Cenci Broker

1. Auction Format

This property will be offered as one individual tract via online public auction. Bidding will take place online and will remain open until the published closing time. The auction is subject to a 10% Buyer’s Premium and seller confirmation of the final high bid.
The Sellers are open to pre-auction offers and will accept a Buy-It-Now price of $750,000. Interested buyers should contact the listing agent prior to the close of auction to submit a formal offer.

2. Buyer’s Premium & Deposit

There will be a 10% Buyer’s Premium added to the high bid (hammer price) to determine the final contract price. This 10% Buyer’s Premium is due immediately following seller confirmation and will serve as the non-refundable earnest money deposit. This amount will be credited toward the purchase price at closing. The Buyer’s Premium may be paid via certified funds, wire transfer, or approved personal check.
Your bidding is not conditional upon financing, so please ensure all financing is arranged prior to bidding.

3. Acceptance of Bid

All final bids are subject to the Sellers’ confirmation and acceptance. The winning bidder will be required to execute a binding purchase agreement immediately following auction close.

4. Evidence of Title

The Sellers will provide owner’s title insurance at their expense through Valmer Land Title, Grove City, OH. A general warranty deed will be conveyed at closing. All property is sold as-is, where-is with no contingencies for inspection or financing.

5. Closing & Possession

The balance of the purchase price shall be paid in full at closing, which will take place within 45 calendar days of the auction’s close and seller confirmation. All closing services will be handled through Valmer Land Title in Grove City, OH, unless otherwise agreed upon in writing by both parties. Possession of the property shall be granted to the Buyer at the time of closing, upon full payment of the purchase price. No early occupancy will be permitted under any circumstances. Buyers are advised to plan accordingly with movers, contractors, or lenders to ensure a smooth transition of ownership on the closing date.

6. Real Estate Taxes & Assessments

Real estate taxes shall be prorated to the date of closing. Buyer shall be responsible for all taxes and assessments thereafter.

7. Survey

No new survey will be provided. Property will transfer based on the existing legal description. If Buyer requires a survey, it shall be at their sole cost and will not affect the closing timeline.

8. Property Condition

The property is being sold as-is, where-is, with no warranties or guarantees expressed or implied. All prospective buyers are encouraged to conduct their own due diligence prior to bidding.
Showings are permitted but must be approved by the listing agent, Daniel DeGarmo (740.412.7866).
Please see full description for more details.

9. Agency Disclosure

Daniel DeGarmo is a licensed real estate agent with ERA Martin & Associates and is acting exclusively as an agent for the Seller in this transaction. Neither the Auctioneer nor the brokerage represents the Buyer in any capacity.

10. Fair Housing Disclosure

This property shall be offered and sold without regard to race, color, religion, sex, familial status, disability, ancestry, military status, or national origin, in accordance with the Ohio Fair Housing Act and the Federal Fair Housing Law.

11. Disclaimer & Conduct of Auction

All announcements made prior to the auction close shall take precedence over printed or advertised material. The Auctioneer reserves the right to accept or reject bids, clarify bidding increments, or disqualify bidders at their discretion. The Auctioneer’s decisions are final.
Neither the Sellers nor the Auctioneer are responsible for accidents, errors, or omissions.

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