Property Information Package
PROPERTY INFORMATION PACKAGE
Real Estate Auction 706 Front Street Dowagiac Live On-Site Saturday, November 23th @ 11AM Registration & Preview: 10AM-11AM
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
706 Front St., Dowagiac Michigan
Property Features: (source: public records) 1200 square feet. Aluminum siding, one and half story+.
Three bedrooms, one bath. One car attached garage,
Full basement. S.E.V. $46,700
ID# 14 - 160 - 200 - 116 - 00 Dowagiac School District Year Built unknown Nat. Gas forced air furnace w/ac. Lot size: 66X122 Current annual property taxes: $1,200 Closing: 60 days
Notes: Opening Bid: $10,000. This property to be SOLD on Auction Day. Plan Now. Be There.
Seller will provide a warranty deed, transfer tax, tax proration, and title insurance. It is the buyers responsibility to complete municipal inspection requirements if any. (see attached purchase contract for de- tails) Seller: Conservator for Martyn Loasby. Probate Court supervised sale. Agency Disclosure: John Bippus Co. acting as auctioneer/broker 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 This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time with out notice.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/AGENT PARTICIPATION (optional) 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 on the website or 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 ___________________________________________
BippusUSA.com, 11811 Anchor Lane Three Rivers, MI 49093 (269)244-1111 (888)481-5108
John Bippus
x
x
John Bippus
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