BUYER’S TERMS AND CONDITIONS REGARDING THIS SALE
The Buyer agrees when he/she/ it (Buyer) by registering to bid and by bidding that Buyer will comply with Ohio and local statutes and court decisions regarding this PSO (ORC 2329.152) and further agrees to the following terms and conditions:
This is a Court Ordered sale and is a public auction.
FINAL BID PRICE: There shall be a Buyer’s premium of 5% of the gross sales price, which will be added to the final bid price (the Bid). For example, if the final bid price is $100,000.00, the final contracted price will be $105,000.00. The 5% buyer premium is paid to the PSO.
DEPOSIT PAYMENT IS DUE IN 24 HOURS: If you have the highest bid, you will deposit the amount of that bid within 24 hours of the final bid by wiring the moneys to the title company appointed by the PSO. Failure to do so will subject you to the Court’s decision and the Seller has the option to cancel the bid and take the next bid. If this the bid is cancelled the Seller may also choose to have another sale at the provisional sales date. The deposit required for this auction is $5,000.
BIDDER MUST DO: The bidder who is selected to proceed with the purchase of the property has several obligations to fulfill under Ohio law, including:
PAYING THE WHAT IS OWED AND THE BALANCE DUE: Paying the balance due includes: (1) the balance outstanding on the bid amount (i.e., bid amount less the sale deposit made) plus any applicable fees, (2) county transfer taxes, (3) county deed recording fees, and (4) all closing costs, allowances, fees and taxes (which may include prepayment of taxes and any other amounts that the proceeds of the sale are insufficient to cover).
BUYER ASSUMES SOLE RESPONSIBILITY FOR: Buyer assumes all responsibility and liability for any occupancy, and assumes all responsibility, liability, and cost of taking possession. The property may be subject to leasehold interests or other rights or claims of various tenants or other occupants, and the buyer may be subject to certain limitations set forth in the Service Members Civil Relief Act, or other federal, state, or local law, as applicable.
DISCLAIMER: Property is sold in "as is" condition without any warranties. The PSO and the lienholder have not viewed the property in-person. You may not view the property, nor may you interfere with the residents (if any) until you have the deed recorded in your name. The property information and any photographs provided here are for reference only and are not guaranteed to be an accurate or recent depiction of the property. There is no survey, so the property lines, boundaries and the like are not guaranteed as accurate.
BANG AUCTIONS MARKETS THE PROPERTY: This property is being marketed on www.BangAuctions.com sold by the PSO noted below. The PSO is obligated, under Ohio law, to conduct the online auction using certain procedures, including submitting bids up to a fixed maximum amount on behalf of the lienholder who is a party to the foreclosure action and hiring the title insurance agent or company to perform the title, escrow and closing services in connection with this transaction.
YOU ARE RESPONSIBLE FOR DUE DILIGENCE: You should conduct their own due diligence before bidding, including, but not limited to conducting a title search and consulting an attorney. Please note that physical access to the property is not permitted. No interior access to any structure on the property is permitted. Any attempts to access the property, or disturb the occupants, may be considered trespassing. You agree not to trespass or disturb the occupants.
CASH ONLY SALE: This is a cash only sale. Do not bid on this property if you are unable to pay the bid amount and all related fees in cash at closing. If you fail to fulfill any of the obligations required to complete the sale, including, but not limited to, paying the sale deposit, the entire purchase price or any relevant taxes and fees associated with this transaction, the sale may be deemed invalid, and you may be subject to penalties imposed by the applicable Ohio court.
THE SELECTED BIDDER’S RESPONSIBILITIES: The bidder who is selected to proceed with the purchase of the property has several obligations to fulfill under Ohio law, including:
1. Providing the sale deposit in cash to the applicable escrow agent by 12PM ET the following business day.
2. Buyer assumes all responsibility and liability for any occupancy, and assumes all responsibility, liability, and cost of taking possession. The property may be subject to leasehold interests or other rights or claims of various tenants or other occupants, and the buyer may be subject to certain limitations set forth in the Service Members Civil Relief Act, or other federal, state, or local law, as applicable.
FURTHER INFORMATION TO CONSIDER: Please consider the following auction information:
The Court and or lienholder may cancel or postpone the auction at any time (including in the middle of the online auction event).
If a successful auction event is held, any final sale remains subject to confirmation by the court. The court may set aside, vacate, or decide to not confirm the sale. This decision maybe appealed in which case the deed will not be delivered to you until final determination by the courts.
For more information about Ohio foreclosure auctions, including, but not limited to, the role of the PSO, what happens if the PSO credit bid is the highest bid at the end of the auction, what a provisional sale is and the purpose of the start date noted above, please refer the questions to Bang Realty Auctions, Inc.
There shall be Online Bidding Only, as Bidding for this property is only permitted online.
All bids are subject to the Courts and or the Seller’s approval. The Court and or the Seller may reject any bidder and bid.
These terms are in addition to the terms listed on our website https://www.bangauctions.com/buy/pso-sale-terms-conditions and in the event of conflicting terms the above terms and conditions will prevail.
THE PROVISIONAL SALE WILL START ON May 4th, 2021 AND END AT 10:00 AM on May 11th, 2021.