PROPERTY INFORMATION PACKAGE
Real Estate For Sale at Online Auction 20977 East Street
Southfield, MI 48033 Starting Bid: $10,000
Online Auction Begins Monday, July 25, 2022 at 12:00 pm Online Auction Ends Wednesday, August 3, 2022 at 12:00 pm
Preview Property in advance with a Licensed Realtor of your choice
Visit www.BippusUSA.com for all information and to participate in online auction.
Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only. Disclaimer: Information contained herein is believed to be correct to the best of the auctioneer/agent ’ s knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representative and auctioneer/agent shall not be liable for inaccura- cies, errors, or omissions. All square footage a other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.
Bippus USA.com - Anchor Trade Centre - 11811 Anchor Lane, Three Rivers MI 49093 - Auctioneer /Broker - John Bippus
Notice to Bidders
The information included herewith is a summary of information available from several sources, most of which have not been independently verified. The sources from which the information was gathered are believed to be reliable; however, all information contained within this package is subject to verification by all parties relying on it. No representations or warranties, expressed for implied, as to the accuracy or completeness of the information in this and/or other advertising materials shall be deemed made. No legal commitment or obligation shall arise, by reason of this package or its contents. This summary has been provided only of the use of prospective bidders for the ONLINE public auction Monday, July 25, 2022, at 12:00 PM EDST through Wednesday, August 3, 2022, at 12:00 PM EDST. Buyer must rely on his/her own information, inspection, review of public records and own determination to bid, consulting whatever advisors he/she may feel appropriate.
A 10% Buyer's Premium based on High Bid Price applies to all BippusUSA.com Auctions.
10% down payment based on High Bid Price is due immediately at the conclusion of the auction with signed contract, 30 Days to close.
Seller provides a clear warranty deed, title insurance, tax pro-ration, and transfer tax. This is not a foreclosure sale of any kind. Other terms apply.
The property described is being sold in “AS - IS, WHERE IS” conditi on subject to “ALL FAULTS”. Neither BippusUSA.com nor the Seller or their respective agents make any express or implied warranties of any kind. This listing may be withdrawn and/or modified without notice at any time.
Bippus USA .com is a Michigan Licensed Real Estate Broker acting as agent of the seller.
Preview: By Appointment with any licensed Real Estate Agent of your choice.
20977 East Street Southfield, MI 48033 Property Features:
1,175 sf Two Story Brick Colonial, Built 1900, 2 Bedrooms, 1.5 Baths, Living room, Kitchen, Den, Laundry, Basement, crawl space, 2 Space Garage, Natural Gas forced Air Heat, .48+ Acres
Lot Size: 92’ x 225’ Taxes: $1,628 (2021) SA Solid Waste $240 Included tax amount SEV: $48,500 (2021) Closing: in 90 days with probate court approval
Seller will provide a warranty deed, transfer tax, tax proration, and title insurance.
Directions: Main cross streets are Shiawassee St and Inkster Rd. Go South on East St from Shiawassee St. Destination will be on the right.
Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only. 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 .
Bedroom 1 upstairs
Bedroom 2 upstairs
Driving Map for:
20977 East Street Southfield, MI 48033
Directions: Main cross streets are Shiawassee St and Inkster Rd. Go South on East St from Shiawassee St. Destination will be on the right.
GIS Parcel View: 20977 East Street, Southfield, Oakland County, MI 48033
Legal Description from County Records:
Southerly 92 feet of Lot(s) 36, except the east 10 feet taken for road purposes, Thomas Hitchman's Subdivision, according to the recorded Plat thereof, as rec- orded in Liber 10 of Plat(s), Page 49, Oakland County Records.
Broker Participation Terms & Acknowledgement
Note: You do not need a broker to buy property at auction.
Form is void unless received by BippusUSA.com prior to Wednesday, 12:00 pm on 8/3/22. Form not accepted after conclusion of auction. Email completed and signed form in advance to firstname.lastname@example.org
Auction date: Online Auction Bidding Ends Wednesday, August 3, 2022 at 12:00 pm Property Address: 20977 East Street, Southfield, Oakland County, MI 48033
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 successful high bid (not inclu ding buyer’s premium) will be paid with this required completed form received prior to your buyer registering to bid.
Broker agrees that if the commission pool is negotiated down 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. Broker agrees that he shall hold harmless and indemnify BippusUSA.com , including its reasonable attorney’s fees, fr om any and all claims with regard to such commission. State Law requires that Broker/Salesperson disclose that they are principals in a transaction. Brokers/Agents 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 #: Fax # Email address: PLEASE PRINT CLEARLY
Bidder/Buyer Name: Address: City, State, Zip: Phone #:
The undersigned buyer/bidder agrees to the terms set forth herein for the property located at
20977 East Street, Southfield, Oakland County, MI 48033
I agree to the terms set forth herein.
Received by BippusUSA.com
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 determinations 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 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 Cooperating Brokerage is encouraged with licensed real estate brokers. A commission of one to three percent (1-3%) 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 (email@example.com) or by text to 269-535-4961 with BippusUSA.com and the broker registration form must be received no later than 4:00 PM EST on the day before a published auction. On-line Auction registration must be submitted before the bidder begins bidding. 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. announced requirements. STARTING TIMES
LIVE AUCTION BIDDER REGISTRATION AND DOWNPAYMENT REQUIREMENTS Cashier's check, certified check (made payable to yourself) in the amount of $5,000.00 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 $5,000.00 ON-LINE AUCTION BIDDER REGISTRATION AND DOWNPAYMENT REQUIREMENTS Registration to bid requires a deposit HOLD made by credit card authorization in the amount of $2,000.00 to be held at registration. I f you are not the high bidder; funds will be credited back to your credit card account. A down payment escrow payment of 10% of the contract price is required of the winning bidder at the conclusion of the auction with cash, wire transfer, personal or business check or cashier’s check. The minimum down payment is $2000.00 per property. ON-LINE AUCTION END OF SALE PROCESS 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. Contracts are signed and the down payment is made at the close of the auction. Your failure to sign contracts and make the 10% deposit immediately at the conclusion of the auction will forfeit your winning bid status. Any winning bidder that fails to complete the signing and down payment requirements will be charged a $2,000 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 it is conducted. Announcements made sale day or sale ending day take precedence over previously disseminated material. Listing may be withdrawn or modified without notice at any time. All rights reserved. non-refundable Internet Service Fee on their credit card. ADDITIONAL TERMS FOR PROPERTIES
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.
This Property is Exempt From
Sellers Disclosure Statement
Transfers by a non-occupant fiduciary in the course of administration of a decedent's estate, guardianship, conservatorship, or trust are exempt from providing a Sellers Disclosure Statement.
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