Property Information Package
PROPERTY INFORMATION PACKAGE
Real Estate Auction 3117 Willow Street Dearborn, Michigan 48124 Live On-Site Wednesday, November 8th @ Noon Preview: Call John Bippus or your REALTOR to preview. 269-244-1111
www.BippusUSAcom
800-686-6416
BippusUSA.com - Anchor Trade Centre - 11811 Anchor Lane, Three Rivers MI 49093 - Auctioneer /Broker - John Bippus
Exclusive Listing
John Bippus AARE CAI CES GRA GMAS PSA BippusUSA.com 800 - 686 - 6416
3117 Willow Street, Dearborn Michigan
Property Features: (source: public records) 1000 square feet. Brick, one story+. Walk up attic / bonus space. Two bedrooms, one bath. Two car detached garage, 484 Sq. ft. Full unfinished basement. S.E.V. $90,700 ID# 82 09 352 11 002 Dearborn City Schools Year Built 1974 Natural gas forced air furnace w/ac. Lot size: 50 X 109
Homestead Property Taxes: $4,550 (estimated at current S.E.V.)
Notes: Opening Bid: $10,000. The power is off. The home needs a complete interior remodel. “fixer upper”
Seller will provide a warranty deed, transfer tax, tax proration, and title insurance. It is the buyers responsibility to complete municipal inspection requirements. (see attached purchase contract for details) Seller: The PR for the Estate of Gregory Ozimek a Wayne County Probate Court supervised sale.
Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller . Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent’s knowledge but is subject to inspection and verification by all parities relying on it. Sellers, their representative and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time with out notice. Announcements made sale day take precedence over previous printed material.
BippusUSA.com Real Estate Auction Terms & Conditions
(NOT TAX SALES) YOU ARE URGED TO INSPECT THE PROPERTY BEFORE THE AUCTION The information provided is subject to inspection and verification by all parties relying on it. Buyers must rely solely upon their own inspections and determination to bid. Property information provided by Seller or Auctioneer is not guaranteed. No liability for accuracy, errors or omissions is assumed by the seller or agents. All square footage, lot size measurements, and dimensions provided are approximate. No warranties or guarantees are expressed or implied. Seller's disclosure statement may be available prior to sale except on ; lender owned, court supervised, and estate sales. Properties are sold "AS IS" "WHERE IS" and should be fully inspected prior to bidding . CONDITIONS If you do not agree with any of the terms and conditions stated DO NOT BID . The terms of sale are non- negotiable. The Auctioneer's decision is absolute and final in the event of a dispute over any matter. If there is a tied bid, the auctioneer will reopen the bidding. The auctioneer reserves the right to accept bids in any increments he feels are in the best interest of his clients and reserves the right to waive any previously
announced requirements. STARTING TIMES
Live auctions only take minutes to sell a property. Please be prompt. There will be an explanation of the Auction Process and Terms and Conditions before each property is sold. When at the discretion of the auctioneer present, the auction is opened for bid, all property designated to be sold absolute will be sold to the highest bidder. All properties will be sold ON-SITE, RAIN OR SHINE, unless otherwise noted. FINANCING INFORMATION Buyers are to obtain their own financing. No purchase is contingent upon financing. BROKER PARTICIPATION (optionable) Cooperating Brokerage is encouraged with licensed real estate brokers. A commission of three percent (3%) will be paid by BippusUSA.com to a cooperating buyer's broker who registers the successful bidder who closes on the property. See the Registration form in the Property Information Package for details specific to this auction. ( No commission will be paid if the bidder fails to close ). Brokers must register his/her client/bidder either by email to (jbippus@bippususa.com) or by text to 269-535-4961 with BippusUSA.com. The completed broker registration form must be received no later than 4:00 PM EST on the day before a published auction. Registration must be on the broker registration form provided by BippusUSA.com and must be signed by broker/salesperson and client/bidder . Additionally, the cooperating broker/salesperson must attend the auction with his/her client/bidder . Brokers acting as principals are not eligible for this commission. There can be NO EXCEPTIONS to this procedure and no broker registrations can be accepted at the live auction site on auction day . If there is a minimum commission or if the commission is reduced in negotiations, all parties shall share proportionately in this figure equally up or down on the same percentage basis. BippusUSA.com shall have full and complete control with regard to commissions negotiated with Seller.
LIVE AUCTION BIDDER REGISTRATION AND DOWNPAYMENT REQUIREMENTS Cash, or Cashier's check, certified check (made payable to yourself) in the amount of $1,000.00 must be shown at registration. The high bidder will turn the certified funds shown at registration over as part of your deposit; if you are not the high bidder; simply re-deposit your check back into your bank account. An escrow deposit of 10% of the contract price is required of the winning bidder at the conclusion of the auction. The balance of your deposit may be paid with a personal or business check. The minimum deposit is $1,000.00 ADDITIONAL TERMS FOR PROPERTIES A 10% Buyers Premium will be added to the final bid and included in the contract price. A published "suggested opening bid" and "opening bid" auction is sold with reserve and subject to seller confirmation. Seller will furnish deed, free and clear of liens. Seller to provide title insurance, transfer tax, and prorated property taxes based on where property is located. Buyer and Seller will split the title office closing fee OTHER This auction is conducted by BippusUSA.com acting as auctioneer/listing real estate broker. BippusUSA.com is solely responsible for the terms and conditions of the auction and the manner in which the auction is conducted. Announcements made sale day take precedence over previously disseminated material. Listing may be withdrawn or modified without notice at any time. All rights reserved.
PC-1
11811 Anchor Lane Three Rivers MI 49093 800-686-6416 Office-Toll Free
PURCHASE CONTRACT
Date
Through you, as agent for the seller, I or we will give for the following described property located at: County of
, Michigan.
Legally described as: (attached if left blank)
.
The sum of ______________________________________________________________________________$______________________ PAYABLE AS FOLLOWS : Cash or Certified US funds upon execution and delivery of the deed, (warranty, limited warranty, special warranty, or quitclaim) conveying insurable title, free and clear of all encumbrances, assessments or liens except: the current and subsequent year’s property taxes, easements, covenants & restrictions of record, zoning, and all forms of governmental regulation. The property is purchased in absolute “as is, where is” condition. 1. Time is of the essence and this is an irrevocable offer to purchase with no contingencies. Seller has a deadline to accept in writing by ______________________ (date and time) or five business days if left blank. In the event offer is accepted and Buyer fails to perform according to the terms of this contract, the down payment shall be forfeited as partial liquidated damages, and not as a penalty, without affecting any of SELLER’S further remedies. Either party may demand specific performance of this agreement. 2. As evidence of good faith binding this contract, a non-refundable down payment of $_______________________ is made to be applied to the purchase price at closing. Down payment to be refunded only if title is uninsurable. If down payment is made with personal check, it shall be made payable to BippusUSA.com or _____________________________ 3. Improvements and fixtures. All realty improvements and fixtures are included in the price, including but not limited to the following: all electrical, gas, central heating and air, plumbing, including water softener, water heater and propane tanks (except rental units), built-in appliances, drapery hardware, attached carpeting, garage door opener, and __________________________________________________. Rented mechanical units and window a/c units are not included. Personal property and or equipment is not included. 4. Closing shall be on or before thirty (30) days from this date , subject to seller’s acceptance and confirmation, unless otherwise indicated in special provisions or as follows: Once this contract has been signed and accepted by the buyer and the seller it becomes Irrevocable and Absolutely binding on all parties, heirs and successors . An additional thirty (30) days to close can be allowed at the seller’s option. If checked: Yes This contract is subject to probate court approval and closing to be within, 60 days 90 days , with an additional 30 days allowed at the seller’s option. In the event the court does not approve this contract it becomes null and void and the buyers downpayment returned. 5. If Buyer defaults, Seller may enforce this agreement, or may declare Buyer’s right to purchase terminated, retain the down payment as partial liquidated damages, and pursue other legal remedies. If the Seller defaults, buyer may enforce this agreement, or may request the return of the down payment and pursue legal remedies. If this agreement is not closed in the time and manner provided, the Auctioneer/Broker shall have the absolute right to determine the respective positions of the parties, and is authorized by the undersigned to take such actions with respect to the down payment as Broker deems appropriate. Broker/Auctioneer is indemnified and held harmless by the undersigned parties for their actions taken. Broker/Auctioneer has no responsibility for the performance of this agreement by the parties. 6. The buyers, within time allowed for delivery of evidence of title and examination thereof, may have the Property surveyed at the buyer’s expense. When the closing occurs, Buyer shall be deemed to have accepted the location of such improvements on, and the boundaries of, the property. 7. This agreement is not subject to Buyer being able to qualify for financing. In case of such default, the provisions of Paragraph 1 shall apply. 8. The Buyer may assign interest in this agreement only with the expressed written consent of the Seller. 9. This agreement may be executed in a number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes. A fax signature shall be considered a binding contract. 10. Commercial/Business: Inventory is to be paid for at/or before closing and is not included in the contract price. The contract is not subject to SDM, liquor or any other license transfer. The business equipment included in the purchase price, if any, is
PC-2 on an attached list. Equipment not specifically listed in not included and may be removed at the seller’s option and expense. Rented equipment is not included. 11. The Buyer either has received all compliance materials or expressly waives all notices or paperwork related to: seller disclosure, lead based paint, fair housing act, radon, harmful molds, and all other disclosure or compliance laws or programs. The Buyer chooses to transact on these terms. 12. Possession of the above described property shall be given at closing, subject to the rights of tenants, if any, under existing leases and state law. 13. Unplatted lands: If the property is not a new land division or boundary change, the SELLER is transferring to the buyer all available divisions, if any, but makes no representations as to the number. Buyer has not relied on any information or opinions of the broker, salespeople, auctioneer, or the seller. If the property is being split from a larger parcel, no divisions are included. This contract is contingent upon the seller obtaining government approval of the proposed land divisions and if approval is denied this contract becomes null and void and the buyer’s down payment is to be returned. 14. Municipal Inspections: It is the buyer’s responsibility to pay for and obtain all required municipal inspections, make required repairs, and obtain any certificates of occupancy, including payment for same. The buyer hereby certifies that they will comply with said inspection and repair requirements. 15. Personal Property: The seller is not responsible to remove trash and personal property but may do so at their option prior to closing.
The property sells as is, where is, with no warranty expressed or implied, with all its faults and defects in its present condition.
All risks of loss with respect to the property shall remain with SELLER until the closing is completed.
COMPENSATION: Seller and Buyer acknowledge that Brokers shall be compensated for services rendered as previously agreed by separate written agreement(s) and or addendum and or acknowledgement form. The payment of a buyer’s premium by the buyer in no way constitutes the creation of an agency relationship between the Broker/Auctioneer and the buyer. TITLE INSURANCE : An ALTA Owner’s Policy of Title Insurance with standard exceptions in the amount of the purchase price shall be furnished to BUYER at SELLER’S expense and a commitment to issue a policy insuring insurable title vested in BUYER ; a real estate tax status report, shall be made available for BUYER’S inspection prior to closing. BUYER will pay the cost of mortgage title insurance, if required. TAXES AND ASSESSMENTS : Current real estate taxes, except special assessments, shall be prorated to the date of closing. The balance amount owing of the lien of any special assessments shall be paid by the seller at the time of closing; except that special assessments becoming a lien after closing will be paid by buyer. Seller shall pay real estate transfer taxes.
PRORATIONS: Items normally prorated in real estate transactions shall be adjusted to the date of closing. Buyer pays the title company’s closing fee. All rental security deposits shall be paid to buyer at closing.
INDEMNIFICATION AND HOLD HARMLESS : All parties to this agreement hereby agree to indemnify and hold harmless Broker/Auctioneer including attorney fees and court costs, incurred as a result of all aspects of this transaction.
VENUE & SETTLMENT OF DISPUTES : All parties to this agreement hereby agree that all disputes will be settled in the venue of the St. Joseph County Circuit Court, St Joseph County Michigan. Further it is agreed that all parties shall first submit to binding arbitration, in St Joseph County, Michigan should a dispute arise. Broker/Auctioneer may collect reasonable attorney fees should seller or buyer be adjudicated against in either arbitration or appeal.
BROKER /AUCTIONEER: BippusUSA.com is a D.B.A. for John Bippus Co. a Michigan Corporation
SPECIAL PROVISIONS : _________________________________________________________________________________________________________ _____________________________________________________________________________________________ _________________________________________________________________________________________________________ _______________________________________________________________________________________________
PC-3 We have read the entire contents of this contract, front and back, and acknowledge receipt of same. We are not relying on verbal statements not contained herein. We further certify that we have examined the property described herein and that we are thoroughly acquainted with its condition and accept it as such. Delivery of acceptance of this offer after signing by the parties is not necessary to create a binding contract.
Witness/Auctioneer/Broker: ___________________________________________ License # ___6505304016_______________________
Buyer’s X
Buyer’s Address
(Signature) Name Printed __________________________________________
Buyer’s X _____________________________________________ (Signature) Name Printed _________________________________________
Telephone: _________________
_______________ ________
(W) _________________
________________________
________________________________________
(Fax) _____________________________
_________
Marital Status or Entity
(e-mail)_____________________________________
**************************************************************************************************** The above proposition is hereby accepted this _________________ day of _____________________________, 2022 at __________AM / PM and SELLER acknowledges receipt of a copy of this contract.
Seller________________________________________
Seller ___________________________________________
Broker Participation Terms & Acknowledgement Note: You do not need a broker or agent to buy property at auction.
Form is void unless received by BippusUSA.com not later than 5:00 p.m. EST on the last business day prior to the auction date. email to jbippus@bippususa.com or text to 269-535-4961 Auction Date: Property Address: 3117 Willow Street, Dearborn ,Michigan A commission will be paid based on the following schedule to any properly licensed real estate broker whose Buyer/Bidder is the successful purchaser for this property and who closes and pays the Total Contract Sale Price for this Property. Payment made to Broker upon closing. 3% of the bid price, not including the buyers premium. Broker and Agent agrees that if the commission pool is negotiated down in order to confirm the sale, they will accept a proportionate cut. Maximum broker participation shall not exceed 3% of the high bid. Oral registration will not qualify Broker for commission. Agent or Broker MUST attend the auction. Broker agrees that he shall hold harmless and indemnify BippusUSA.com , including its reasonable attorney’s fees, from any and all claims with regard to such commission. State Law requires that Broker/Salesperson disclose that they are principals in a transaction. Brokers acting as principals are not eligible for this commission. No exceptions will be made to the terms of this form.
Name of Broker:
Broker License #
Name of Company: Name of Sales Assoc.:
Assoc License #
Address: City, State, Zip: Phone #: Email address:
Fax #
PLEASE PRINT CLEARLY ************************************************************************************************************************************************************************************ Bidder/Buyer Name: Address: City, State, Zip: Phone #: Email address: ************************************************************************************************************************************************************************************ The undersigned buyer/bidder makes an opening bid of $ for the property located at . Opening Bid does not include the Buyer's Premium. I agree to the terms set forth herein.
Date:
Broker or Agent Signature
Bidder/Buyer Signature
Received by BippusUSA.com Date
BippusUSA.com Frequently Asked Questions
Regular Real Estate Auctions (not applicable to tax sales)
“Winners don’t dawdle, dither, or delay. Winners Act.” John Bippus
• If I win the bid, when is the ten percent down payment due? Live auction: The down payment is due, and the contract is signed at the conclusion of the bidding. On-line auction: Immediately after the bidding ends the auction company will contact you by phone and email to confirm and congratulate you on being the winning bidder. We will make arrangement for you to deliver in person or overnight mail the down payment and the signed contract to us. • Why is the property being sold at auction instead of using the ordinary listing method? Some owners require an accelerated sale for various reasons including, foreclosure, divorce, bankruptcy, estate settlement, transfer, surplus disposal or corporate liquidation. Our Clients need to know when their property will be sold. • Why sell at auction? To sell on a known date, with the maximum number of interested parties present, and prepared to purchase on the day of the sale. • What is the minimum or starting bid? If the property is designated as an absolute property: the property will be selling to the highest and last bidder regardless of price. The bidders will start the bidding. If the property is not designated as an absolute property: the sale is subject to seller confirmation. In the event there is no minimum bid, and/or no suggested opening bid: the bidders will start the bidding. The final bid is subject to seller approval and or probate court approval. The seller is very motivated, and BippusUSA.com expects to sell the property on auction day. (NOTE: the seller reserves the right to make the sale absolute day of sale.) • What will the house/property sell for? It is not possible to give a correct answer. It all depends on the bidders on the day of auction. • How much will the house/property bring? There is no way of predicting the selling price prior to the day of sale. Neither BippusUSA.com nor any realtor is able to accurately predict the outcome of a sale. • How much is the house/property worth? A current appraisal or the last list price may give a guide. • What is S.E.V.? State Equalized Value and Assessed Value are essentially the same thing. They are calculated at 50% of market value by the tax assessor. • What about title? Will I buy a property with unpaid taxes or liens? What is the mortgage? The properties are sold with insurable title, no liens, judgments, mortgages or back taxes. If the title cannot be cleared and insurable title delivered the down payment will be refunded to the buyer. There are no assumable mortgages on auction properties. If a property has a mortgage, and the price comes in below the mortgage, the seller will bring cash to closing to pay off the mortgage. • If I can't be present at the auction can someone bid for me? Can I bid by telephone? Yes. You may appoint a representative to bid on your behalf or BippusUSA.com offers remote bidding by telephone for both live and on-line auctions. • Can I make an offer before the auction? You will have to ask the auctioneer about the specific property you are interested in. You must be prepared to tell the auctioneer the price you are willing to offer when you ask. We will not provide you a price. We will write the offer and present it to the owner for acceptance. Terms and Conditions of the auction should be followed. We recommend that you make your best offer at this time.
• What happens if the high bidder fails to close? BippusUSA.com may notify the back-up bidder to secure a new purchase agreement. The property may also be made available to other registered bidders and the open market. • What guarantees are there? The seller provides title insurance and a warranty deed at closing, guaranteeing insurable title, clear of liens. The real property is sold "as-is". Any inspections must be completed prior to the auction. You are relying on your own inspections and determinations to bid. Personal property is not included in the sale and may or may not be removed prior to closing. In most cases personal property that remains after the closing becomes the property of the new owner. • What is the Buyer's Premium? The buyer's premium becomes part of the purchase price. Ten percent will be added to the bid to become the total cost of acquisition. • Is there any financing? No. The buyer is responsible for their own financing. Many of our buyers close with financing. If you win the bid and plan to close with financing let us know. We will work with your lender to aid them in getting the transaction to closing. • This is my first auction, what should I do? First, we recommend that you call your lender and pre-qualify. Then check out the values in the neighborhood and inspect the property. Set a range of value or limit for your bidding and be prepared to bid up to that limit. For a live auction: Arrive early at the auction-site to register and get to know the auction staff. Get comfortable and relax. Listen closely to the Auctioneer. Raise your bid card to signal a bid. The Auctioneer will use his rhythmic "chant" to call bids. Bid assistants will be available to help you. Don't be bashful or you may miss a great opportunity. • How long will the auction last? Live auctions take only a few minutes and start precisely on time. It is advised that bidders arrive 15 to 30 minutes before sale time. • How big is the response to auctions? How many people show up or bid on-line? There is no way to predict this. You never really know how many bidders will participate. AUCTIONEER'S NOTE: If you are interested in an advertised property, whatever price you have in mind, BippusUSA.com strongly encourages you to participate in the auction. The process doesn't take long and it can be fun. We are not in this business for practice, at the end of the sale someone will be the lucky winning bidder.
Why shouldn't it be you!
“ Winners don’t let what they can’t do get in the way of what you can do.” John Bippus
These are typical and general Q&A. Specifics are listed in each property information package. This auction is conducted by BippusUSA.com acting as auctioneer/listing real estate broker. BippusUSA.com is solely responsible for the terms and conditions of the auction and the manner in which it is conducted. Announcements made sale day or sale ending day take precedence over previously disseminated material. All rights reserved.
Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
Lead Warning Statement Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller’s Disclosure (a) Presence of lead-based paint and/or lead-based paint hazards (check (i) or (ii) below): (i) ______ Known lead-based paint and/or lead-based paint hazards are present in the housing (explain). _______________________________________________________________________________________ (ii) _____ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b) Records and reports available to the seller (check (i) or (ii) below): (i) ______ Seller has provided the purchaser with all available records and reports pertaining to lead- based paint and/or lead-based paint hazards in the housing (list documents below). _______________________________________________________________________________________ (ii) _____ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser’s Acknowledgment (initial) (c) ________ Purchaser has received copies of all information listed above. (d) ________ Purchaser has received the pamphlet Protect Your Family from Lead in Your Home. (e) Purchaser has (check (i) or (ii) below): (i) _____ received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assess- ment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or (ii) _____ waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Agent’s Acknowledgment (initial) (f) ________ Agent has informed the seller of the seller’s obligations under 42 U.S.C. 4852(d) and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate. __________________________________________________ __________________________________________________ Seller Date Seller Date __________________________________________________ __________________________________________________ Purchaser Date Purchaser Date __________________________________________________ __________________________________________________ Agent Date Agent Date
BippusUSA.com, 11811 Anchor Lane Three Rivers, MI 49093 (269)244-1111 (888)481-5108
John Bippus
x
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John Bippus
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Free e - book download @
John Bippus AARE CAI CES GRI GMAS PSA
800 - 686 - 6416 NaƟonwide 269 - 244 - 1111 Michigan jbippus@bippususa.com
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