REAL ESTATE SALE TERMS
Bidding Procedure: The property(ies) will sell to the highest bidder(s) via Public Auction using the Multi-Parcel Auction Method - bid on any individual tract or combinations of any tracts. The properties will sell subject to confirmation of the Seller.
Acceptance of Bid Prices: Successful bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Successful online bidder(s) will sign a Confirmation of Sale Agreement within 24 hours after Auction. Bidding IS NOT CONDITIONAL UPON FINANCING.
Seller's Acceptance of Offer(s): The sale of the Property is contingent upon approval by the State of Ohio Controlling Board to sell the Property to the highest bidder(s) at the Public Auction within forty-five (45) days following the Public Auction date.
Down Payment: Purchaser(s) will deposit 5% of the accepted bid amount(s) as down payment with the Auction Company upon signing of Confirmation of Sale Agreement. Onsite Purchaser(s) will place deposit date of auction; online Purchaser(s) will place deposit within 24 hours of auction's end. Balance will be due at closing.
Deed: Seller shall furnish a transferable and recordable GOVERNOR'S deed conveying to Purchaser, or nominee, a marketable title to the Property. The Conveyance shall be subject to (a) legal highways and public rights-of-way; (b) any mortgage assumed by Purchaser, (c) all installments of taxes and assessments becoming due and after the closing; (d) rights of tenants in possession; (e) zoning, building and other laws, ordinances, restrictions, and regulations; and (f) leases, licenses, easements, covenants, conditions, reservations, permits, memoranda of understanding, agreements, and restrictions of record, The cost of any title examination and title insurance shall be borne by Purchaser.
Real Estate Taxes: Taxes will be prorated to the date of closing (long proration method). Purchaser(s) will pay for any Current Agricultural Use Valuation (CAUV) recoupment fees due to a change in land use.
Closing Date: Closing will occur on or before 45 calendar days from approval of the purchase contract by the State of Ohio Controlling Board. Purchaser will pay customary portion of closing costs at closing. Closing will be conducted by HOME SITE TITLE AGENCY, XENIA, OH, unless mutually agreed in writing by Seller and Purchaser.
Land Lease: The tillable land on both Tracts is leased for the 2026 calendar year. Lease payments will be prorated to the date of the transaction's(s') closing(s).
Cash Rent Proration: Cash rent of $49,970 for 2026 will be prorated to the date of the Closing(s) based on a six-month (May 1 -October 31) convention.
Possession: Date of closing subject to tenant's right to harvest 2026 cash grain crops on or before December 31, 2026.
Property Survey: Both tracts will convey based on new survey approved by the Greene County GIS department.
Agency: SHERIDANS LLC and its representatives are Exclusive Sales Agents for the Seller.
Online Bidding: Auctioneer will accept online bids during auction in real time. Auctioneer retains full discretion to modify these terms at any time prior to or during the auction. Bidders' use of online bidding option and bid placement constitutes acceptance and agreement to adhere to these terms. All bidders are responsible for reading all terms and conditions. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations. Auctioneer is not responsible for the failure of any part of the bidding process or internet bidding. See additional online bidding terms online.
Disclaimer & Absence of Warranties: All information contained in this brochure and all related materials is subject to the terms and conditions outlined in the Confirmation of Sale Agreement. Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information. The property is sold on an "AS IS, WHERE IS" basis, and no warranties or representations, either expressed or implied, concerning the property are made by the Seller or the Auction Company. Each bidder is responsible for conducting his/her own independent inspections, investigations, inquiries, and due diligence concerning the property prior to bidding. The information contained in this auction marketing information is believed to be accurate, but is subject to verification by all parties relying on it. Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, legal capacity, etc. All decisions of the Auctioneer are final.
Choice of Law: This Contract shall be governed by the laws of the State of Ohio and Purchaser consents to the jurisdiction and venue of an Ohio state court of proper jurisdiction.
