SOLD....................$523,800.00 5020 Bixby Road Groveport Ohio 43125
9132 SR 62 suite B Orient, Ohio 43146
mobile 614 499-5257
Real Estate Exclusive Right to Sell Agreement Addendum A
AKA Buyer’s Terms & Conditions
Re: This addendum supplements the addendum language references within section 2 of the Exclusive Right to Sell Agreement for entered into between William Wilson & Morgan Wilson and Key Realty, Ltd., an Ohio limited liability company (“Key Realty”).
5020 Bixby Road Groveport, Ohio 43125. Parcel No: 180-004916-00 hereinafter the “Property.”
Buyer’s Terms and Conditions:
This is a Public Reserve Real Estate Auction with a minimum reserve bid of $385,000 and a buyer’s premium of 8% for buyers not represented by a real estate agent and 11% for buyers represented by a real estate agent whichever is greater and sells AS-IS with two contingencies: 1) Seller provides a marketable title 2) A septic easement is fully executed and then recorded with Franklin County, Ohio by World Class Title along with the new DEED after the successfully funded closing.
High bid will constitute the purchase price for the Property which shall be payable by such bidder as the buyer of the Property in accordance with the terms set forth in the terms of the purchase agreement upon which the Property was auctioned (the “Purchase Agreement”); additionally, the buyer shall pay the applicable buyer’s premium as stated above. Immediately following the auction, the winning bidder will be obligated to sign the Purchase Agreement as the buyer and to make a non-refundable down payment equal to $20,000 as $5,000 personal or business check the day of the auction to World Class Title Company (the “Title Company”) and the remaining $15,000 wired per Title Company instructions to World Class Title by the end of the next business day to be held as buyer’s non-refundable down payment and distributed pursuant to the terms of the Purchase Agreement. Buyer’s funds deposited as all, or part of the down payment credited and/or distributed pursuant in accordance with the terms of the Purchase Agreement. If the buyer defaults and does not complete the transaction according to agreed terms of the auction or the Purchase Agreement, the down payment funds collected by the auctioneer and/or the Title Company will be split fifty percent (50%) to the auctioneer and fifty percent (50%) to the Seller. The auctioneer will solicit backup bidders to compete for the buyer’s original Purchase Agreement position and/or with the Seller’s consent may reschedule the auction event with a minimum 30-day marketing period, as the same reserve auction structure with all other auction terms and conditions maintained. Each registered bidder must have a State issued photo Identification and register by signing the “Auction Registration Form” and “Terms & Conditions Form”. All registered bidders must sign a letter of Irrevocable Instructions acknowledging that the buyer’s down payment is a non-refundable deposit. Auctioneer may make changes to terms and condition within his fiduciary responsibility to the Seller (client), in the best interest of the client. If changes are made, they must be reduced to writing and signed by both parties, (buyer and Seller). If the high bid is $400,000 the buyer’s premium is $32,000 for buyers not represented by Ohio licensed real estate agents and $44,000 for buyers represented by Ohio licensed real estate agents. In all instances the non-refundable down payment shall be $20,000. The winning bidder may ask for an extension of time to close and pay a $500 per diem split 50/50 with the seller and broker. All closing costs and any title insurance premiums are the buyer’s responsibility. No Tax credits or proration shall be made in connection with the closing or given to buyer.
Once a bidder has met the requirements to bid and then becomes the winning bidder they agree to: (1) sign all necessary transactional documents, including but not limited to the Purchase Agreement reflecting the terms upon which the Property was contracted, any applicable agency disclosure statement, a lead paint disclosure form completed in a manner which permits closing upon the Purchase Agreement, and when appropriate such forms that are reasonably necessary to facilitate the closing; (2) timely pay the $20,000 non-refundable down payment in the manner(s) described above; and (3) satisfy the buyer’s obligations set forth within the terms of the Purchase Agreement, with the purchase price and applicable buyer’s premium amended by the high bid at auction, and the time for closing amended to 30 days following the auction date. The winning bidder(s) will then have 30 days from the date of the live auction event to close the transaction with the Title Company.
Real Estate agents that want to be eligible for representing a prospective buyer of the Property and a co-op commission of 3.0% must submit a signed agency disclosure statement to the listing agent/auctioneer and conform to all terms and conditions within this agreement and addendum.
John D. Rogers II | Realtor ™, Licensed Real Estate, Licensed Auctioneer, Certified Personal Property Appraiser (CAGA)