Terms and Conditions

TERMS AND CONDITIONS OF REAL ESTATE AUCTION

These Terms and Conditions (“Agreement”) govern the sale of real estate through auction by Fink Auction And Appraisal (Derek Fink “Auctioneer”) and are legally binding on all bidders and buyers participating in the auction. By registering for and bidding at the auction, all participants acknowledge that they have read, understand, and agree to be bound by these Terms and Conditions.

1. PROPERTY INFORMATION

1.1. The property is sold “AS IS, WHERE IS” with no warranties, representations, or guarantees, express or implied, by the seller or Auctioneer, except as otherwise stated in writing.

1.2. Buyers are encouraged to conduct their own due diligence prior to bidding, including inspections, appraisals, and title reviews.

1.3 Seller will make all due diligence to remove all personal property items prior to closing. As in most cases with Real Estate Auctions there may be extenuating circumstances that don’t allow all items to be removed. Any items not removed prior to the date of closing will become the property of the purchaser

2. AUCTION REGISTRATION & BIDDING

2.1. All bidders must register with the Auctioneer before participating. Registration may require proof of identity and a deposit.

2.2. The Auctioneer reserves the right to deny or revoke bidding privileges to any individual or entity at its sole discretion.

2.3. The auction may be conducted live, online, or both, and all bids are legally binding once placed.

2.4. The Auctioneer’s decisions regarding bidding increments, bid acceptance, and bid disputes are final.

2.5. Broker participation is welcomed. 2% of final bid price is being offered to a registered Broker/Agent. The Broker/Agent must register their client 24 hours prior to the auction, and prior to the Buyer registering for the auction. No Exceptions. A Broker Participation Agreement can be requested by email at auctions@bidfink.com or calling the auctioneer at 937-416-6779.

2.6 If you are represented by a registered agent, all questions about the real estate and bidding process must go through your agent. Please plan ahead of time to make sure you understand the entire bidding process.

2.7 Derek Fink will not represent any winning bidder. Any winning bidder without a registered buyer broker/agent will be representing themselves for the duration of the transaction.

3. PROPERTY DISCLOSURES & INSPECTIONS

3.1. The Seller and Auctioneer make no warranties regarding the condition, zoning, or use of the property.

3.2. If applicable, seller disclosures will be made available before the auction.

3.3. Buyers are responsible for verifying all property details, including square footage, lot boundaries, and legal descriptions.

4. BUYER’S PREMIUM & PAYMENT TERMS

4.1. The successful high bidder will be required to sign a Real Estate Auction Purchase Agreement within 24 hours upon conclusion of the bidding. This document will be sent via Dotloop and is required to be signed within 24 hours of the conclusion of the auction. A Buyer’s Premium of 10% of the final bid price will be added to the winning bid and payable by the buyer at closing.
4.2. A non-refundable Earnest Money Deposit of $5,000 is due within 24 hours of the auction’s conclusion. Earnest money will be deposited and held by Lawyers Title located at 100 S Main Ave #101-C, Sidney, OH 45365. Earnest money can be taken to the physical location or done via wire transfer. (fees will apply for wire transfer)
4.3. The balance of the purchase price is due at closing, which must occur within 35 days of the auction close, unless otherwise stated.
4.4. Failure to comply with the payment terms may result in forfeiture of deposit and legal action.

5. AUCTION TYPE & RESERVE PRICE

5.1. This auction will be a Reserve auction. The opening bid represents the reserve price. Once the opening bid has been cast the property will sell to the highest bidder at closing.
5.2. The Seller retains the right to withdraw the property at any time before the auction.

6. CLOSING & TRANSFER OF TITLE

6.1. The transaction shall close with Lawyers Title (see address above), within the required timeframe.
6.2. The Seller shall provide a marketable title, subject to standard exceptions, and deliver a deed upon full payment.
6.3. All closing costs, including title insurance, recording fees, and transfer taxes, shall be allocated to the Buyer as specified in the purchase agreement.
6.4. The Seller will be responsible to pay all prorated real estate taxes based off what is customary for the location of the home (some counties use long proration and others use short proration).
6.5 The Buyer shall take full possession the day of closing.

7. DEFAULT & REMEDIES

7.1. If the Buyer defaults, the earnest money deposit shall be forfeited to the Seller as liquidated damages.
7.2. If the Seller defaults, the Buyer is entitled to a refund of the deposit and may seek further legal remedies.
7.3. The Auctioneer is not liable for any default by the Seller or Buyer.

8. DISCLAIMERS & LIMITATION OF LIABILITY

8.1. The Auctioneer acts solely as an agent for the Seller and assumes no liability for representations made
by the Seller.
8.2. The Auctioneer is not responsible for errors, omissions, technical failures, or bidder miscommunications.
8.3. Participation in the auction constitutes acceptance of these terms, and any disputes shall be resolved under the laws of the State Ohio.

9. MISCELLANEOUS

9.1. The Auctioneer reserves the right to modify these Terms and Conditions at any time prior to the auction.
9.2. Announcements made on auction day supersede any prior statements or advertisements.
9.3. Any legal disputes shall be handled in the local courts of jurisdiction.
9.4. By registering and placing a bid, the bidder acknowledges they have read, understood, and agreed to these Terms and Conditions.

Auctioneer: Derek Fink 2024000214

Fink Auction and Appraisal LLC

Date of Auction: Bidding begins 2/27/25 at 9am and begins a staggered close on 3/6/25 at 7pm.

Auction Location: Online Platform at bidfink.com