Auction Terms & Conditions
First Choice Realty, Inc
Wagenson Auction Service
Real Estate On-Line Auction Terms and Conditions
ADDENDUM M:to the Real Estate Offer to Purchase
Addendum M attached and made part of the Offer to Purchase dated:
made by the buyer, with respect to the property located at:
354 Fawn Court, Oxford, WI 53952
If, you do not understand these terms or the bidding platform, DO NOT BID.
Please call Carol at 608-548-3161 or Mary Jo at 608-343-5656
1. Per Adams County assessor property consists of 3.36 acres with house and outbuildings. Driveway access is off Fawn Ct. NE ¼ of NW ¼ -metes and bounds description, located in Section 3 of Township of Jackson. Approximate boundary dimensions: South side boundary, road side of Fawn Ct, 610’ ; West side 406’ on Hwy G, North side 580’ and East 385’. These are approximations per GIS mapping.
2. Buyer’s Fee: There will be a 10% buyer’s fee added onto the highest bid price to determine the actual offer to purchase price: Example: Bid Price $100,000 plus $10,000 (10% buyer’s fee) equals purchase price of $110,000.
3. Terms and Conditions will be made part of the Wisconsin Real Estate Offer to Purchase. The buyer will execute an Offer to Purchase, in the form provided, without modification, immediately after being declared the high bidder. This Addendum M is part of the offer to purchase. A sample of the Offer to Purchase may be delivered to bidder by calling 608-374-7355 and request the offer to purchase document. Do NOT Bid unless you understand the Offer to Purchase contract.
4. All offers are CASH OFFERS and are not subject to any contingencies, whatsoever. There will be no modification of the offer to purchase. Seller does not agree to any contingencies, such as financing, appraisal, survey or inspections of any kind. Real Estate Broker will work with buyers & financial institutions, but the offer to purchase is not contingent upon financial institutions or appraisal requirements. This is agreed to by bidder, at the time of on-line registration, prior to bidding.
5. Each property is offered under the terms provided in the Wisconsin Real Estate Offer to Purchase contract. The , offer to purchase contract includes this Addendum “M” Real Estate Online Auction Terms and Conditions. Samples of the Offer to Purchase are found at wifirstchoicerealty.com. Please review. Do Not Bid if you do not understand the Offer to Purchase contract. Please call Carol or Mary Jo.
6. Terms: Buyer to pay $1500.00 EARNEST MONEY, which is non-refundable, in the form of a certified check, cash or wire transfer within 24 hours of the close of auction. Call First Choice Realty for wiring information. The balance of the purchase price is due at closing. Earnest money is payable to First Choice Realty Trust Account, 900 Superior Ave., Tomah, WI 54660. Purchaser shall be responsible for any wire transfer fees.
7. EARNEST MONEY Cont.: Upon acceptance of the real estate offer to purchase, by seller, Victoria K Marshall, the buyer’s earnest money will apply towards the purchase price. Ms. Marshall has all intent to sell the property upon closing of on-line auction. If the buyer’s offer is rejected, the earnest money will be refunded in full to the buyer. Earnest money will remain in First Choice Realty Trust Account if offer is countered, up to the time there are no longer negotiations or property closes. Buyer agrees to release earnest money to seller as liquidated damages if the buyer fails, for any reason, to complete the transaction.
8. Buyers’ Responsibility for Signing Documents: Successful bidders not executing and returning contracts with earnest money deposit, within 24 hours, will be considered in default and the seller may take legal action. Bidding is considered a binding legal contract. If the first buyer is in default, the immediate back-up bidder will be given the first opportunity to purchase under the same terms and conditions.
9. Offer to Purchase Documents will include the following: Wisconsin Real Estate Offer to Purchase; Real Estate Condition Report; Addendum M Terms and Conditions of the Auction; Description of Parcels; On-Line Auction Information and Terms; Addendum D-electronic email delivery. Agency Disclosure
10. Agency: First Choice Realty Inc and Wagenson Auction Service are representatives and agents of the Seller. At the execution of the offer to purchase buyers will sign an agency disclosure.
11. Co-Broke & Buyer’s Agency: All buyers are responsible to notify auctioneer or real estate company of any potential buyer’s agency contracts in place, before registration and bidding on the auction. No buyer’s agencies will be recognized 24 hours prior to auction close.
12. Evidence of Title: Seller shall provide an owner’s title insurance policy in the amount of the purchase price. Seller to provide buyer with a clear title. If seller is unable to provide a clear title the buyer may void the offer.
13. Deed: Seller shall provide a deed and transfer to the property at seller’s cost. Seller to pay transfer tax. Seller is responsible to have any unpaid taxes, any judgements, any encumbrances cleared at the time of closing.
14. Closing & Possession: Closing to be no later than November 11, 2019. Possession is at closing. No exceptions.
15. Closing fees to buyer: Any bank fees for acquiring a loan; any testing or inspections, $30.00 to file deed, title company closing fees..up to $350.00
16. Real Estate Taxes: All taxes will be prorated to the day of closing, using previous year’s tax amount. Any unpaid taxes will be paid prior to closing by the seller.
17. Zoning: Property is zoned residential. Buyer is responsible for any change of zoning for future use if required.
18. Easement: Subject to any and all easements of record.
19. Dumpsites: Any scrap iron, dumpsites, iron or wood piles to be buyer’s responsibility. Any remaining personal property at the time of closing to become buyer’s ownership.
20. Accessibility: Road accessibility is township roadway, Fawn Ct. Utility companies will have easements.
21. Inspections: Any and all inspections that a buyer may want done would be at buyer’s expense and must be requested in writing, prior to the end of the auction. Any inspection done after the auction is conducted, does not alter or void the offer to purchase.
22. Septic and Well and Condition:
a. Seller is selling buildings as uninhabitable.
b. Adams County has indicated that the septic system is a dry well system. If a new home were to built on the property a new septic system would be required. The present system is NOT disallowed. Adams County zoning is 608-339-4222.
c. Per Adams County zoning: The septic may be used for a weekend camping trailer, but no permanent connection can be made for the septic. It may be used in the present condition if working.
d. Well is a sand point in the basement of the home and would be considered non-conforming. It is unknown if well is usable.
e. Per seller: foundation, plumbing, heating are not safe or not working.
f. Carpenter ants have been present in the past.
g. Asbestos and Lead Base Paint may be present in the house-no tests have been conducted to see if there is any asbestos or lead.
h. House is considered unsafe.
i. If the buyer(s) and any persons associated with the buyer, is determined to gain entry into the house or any other building on the property, the buyer will release seller from any liability, not limited to injury to self and others by signing this agreement. No entry, prior to signinga release from liability waiver. Personal property on the property at time of closing will become the responsility of the Buyer.
23. Buyer is buying property in its present “AS IS, Where IS, How IS” condition, with all faults-known or unknown, whether disclosed or not disclosed. The buyer agrees that neither the seller, broker or auctioneer offer any warranties or representations, of any type, now or in the future. It is agreed that buyer will not sue for any non-disclosures or errors. Property Condition Report is available and will be part of the offer to purchase. All descriptions, easements, measurements and acreage provide by the seller and First Choice Realty Inc. are to be used as a guide only. The buyer shall be satisfied as to the location and condition of the property, all descriptions with respect thereto, prior to bidding.
24. Damage to Property prior to closing: Seller is to keep property in same condition as day of auction.
25.Due Diligence: Each buyer is responsible to conduct their own due diligence on the property, before bidding.
26. Seller, Victoria Marshall has 48 hours , from close of auction, to accept or counter any or all offers.
ON-LINE Auction Information and Terms for 354 Fawn Court, Oxford, WI 53952
1. Auction End Times: Wagenson Online-Only Auctions are timed events. Bidding will close on Thursday, October 10, 2019 at 6 PM. At the discretion of the auction service, dates and times may be adjusted .
2. Automatic Extend Feature: The on-line auction has an auto-extend feature. Any bids placed in the final 10 minutes of the on-line auction will automatically be extended 10 minutes from the time the last bid was placed. All three parcels will extend even if bidding is on only one parcel. Example: A bid on parcel 3 comes in at 5:59 bidding will be extended to 6:09 to all parcels. The auto-extend feature remains active until no further bids are received, within a 10 minute time frame. Auction company employees and/or the auction company may bid on auction items.
3. Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. First Choice Realty of Tomah, Inc. will e-mail documents to be immediately executed, via electronic signature, face-to-face, fax or e-mail. First Choice Realty of Tomah, Inc. to receive signed documents by 5 PM October 11, 2019. The seller has the right to accept or counter the final bid within 48 hours of close of auction.
4. Bidder Verification: Wagenson Auction Service and First Choice Realty have the right to reject a buyer’s registration. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Wagenson Auction Service will reject the registration, and bidding activity will be terminated. The seller and selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, financials, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any local and all local state and federal laws. Violations will result in termination of web site use privileges. By obtaining a bid number you agree to being contacted by email.
5. UPDATES, NEW DATA, CORRECTIONS AND CHANGES: Please make a final review on website at Wagensonauctionservice.com and or wifirstchoicerealty,com, prior to scheduled auction end time, to be aware of any changes, corrections, or additions to the property information.
6. Disclaimer & Absence of Warranties: All information in regard to this auction are subject to the terms and conditions outlined in the purchase agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the seller or the auction company. All measurements are approximate
Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information provided is subject to verification by all parties relying on it. Wagenson Auction Service, First Choice Realty Inc, seller, Vicky Pasch and agents have no liability for its accuracy, errors, omissions or assumptions. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. All decisions of the auction company are final. Any dispute between auction company and buyers will be dealt with through arbitration in Monroe County Wisconsin for Real Estate.. By bidding on the property at auction, buyer agrees to all terms and conditions as set forth.
7. Any information gathered from this web site by Wagenson Auction Service, not limited to data collected for page visitors, visted pages and all correspondence is agreed upon. You give Wagenson Auction Service and First Choice Realty permission to send marketing emails to this email address.
Seller User Terms
Bidder User Terms