Real Estate Auction Terms Bidding Soft Closes at ~ 7 PM, Wednesday, May 12 Commonly referred to as: 1717 and 1723 Heron Ridge Drive, Bloomfield Hills, MI 48302 Showings and Open Houses will be conducted according to current health and safety regulations. Property to be sold as Two Lots. Lot 1 with Home. Lot 2 vacant lot. General Terms " The selling price of these two lots shall be determined by competitive bidding via online only auction. " It is the Bidder's responsibility to read and fully understand all Terms and Conditions and property information prior to bidding. " This auction is to be conducted by Epic Auctions and Estate Sale, LLC, hereinafter referred to as Auctioneer or Auction Company, on behalf of the owner(s) of the property, hereinafter referred to as Seller. " The terms Bidder and Buyer shall be defined as the individual or any company representing or represented by that individual, including any and all of its agents, employees, representatives, officers, owners, members, or directors. " Auctioneer is not responsible for acts or representations of Seller. " Auctioneer reserves the right to update the Terms and Conditions and any property information at any time. Those will be effective immediately upon posting and the Bidder will be bound by those updated Terms and Conditions. " The act of bidding shall constitute Bidder's acceptance of these Terms and Conditions in whole and individually. If any individual Term or Condition is later found to be unenforceable, Bidder agrees that all remaining Terms and Conditions shall remain valid and in full effect. " Epic Auctions and Estate Sale, LLC, is acting solely in the role of Seller's Agent and will not act as Agents of any potential Buyer and owes no fiduciary responsibility to anyone other than the Seller. " Auction company staff and Seller's family members may bid on their own behalf with the intent to purchase and take possession of the property. " Auction company reserves the right to bid on behalf of the seller up to any reserve amount. " Bidders are encouraged to attend an Open House to inspect the property to their full satisfaction. If the Bidder is not satisfied with the condition of the property or they have any reservations about the bidding process, they are encouraged to discuss this with the auctioneer prior to the auction until they are satisfied or refrain from bidding. " Any information provided in auction advertisements and bidder information packets was obtained from sources believed to be accurate but are subject to verification by any parties relying on such information. No liability for accuracy, errors, or omissions is assumed by Auction Company or Seller. " Buyer Agents are not required for bidders to participate in the auction process, but Agents are welcome to assist Buyers with the process. Real Property Information " All properties are sold subject to any existing matters of record, all easements, and local zoning regulations. " This property is part of the Heron Bay Subdivision Homeowners Association. The property sells subject to all subdivision by-laws and related documents as recorded with the register of deeds. Those documents are available on our website. The bidder is agreeing that by registering to bid in this auction that they are waiving their 9 day right of rescission which will require the buyer to sign that they have received the HOA by-laws, documents, and Master Deed (Declaration), and waive their right of rescission. " The vacant parcel is being sold subject to a Right of First Refusal (ROFR) held by the developer. The developer has up to 20 days after receiving notice of the pending sale to match the purchase offer subject to all of the same terms of the auction. Closing on that parcel cannot commence until that ROFR has been formally released by the developer. If the ROFR is exercised by the developer to purchase the parcel, the $50,000 earnest money deposit will be refunded to the buyer with no other recourse due to the buyer. " This property is sold "as-is" with no expressed or implied warranty provided by either Auctioneer or Seller. " Specific property information is available either at the Epic Auctions and Estate Sales website or via email by request. Please read the property information on the listing and request a Bidder Information Packet. " Auction Company assumes no liability or responsibility for any defects or deficiencies of the property, either known or not known by Seller. " Bidder is expected to read and understand all available information regarding the property and to perform their own due diligence to be fully informed about the property prior to bidding. Registration " Prior to bidder approval, all bidders will provide a deposit of $50,000 to the Auction Company in the form of a wire transfer or certified bank check. Bidder deposits will be mailed to non-winning bidders within 2 business days after the auction in the form of an Auction Company check. " All bidders are required to provide Auction Company a letter from your financial institution showing proof of your ability to purchase this property. " All bidders must provide their full legal name, mailing address, phone number, email address, and valid credit card information to register. " All bidder identities will be verified to the satisfaction of the auction company. Any party that cannot be fully identified will have their bidder registration suspended and any bidding activity will be deleted. " All bidders must be 18 years of age as of the date of bidder registration. " Online bidder registration requires the submission of valid credit card information to be registered for a unique username and password. " Online bidder identities will be kept confidential except to Auction Company staff and Seller. " Auction company reserves the right to request proof of funds for the Earnest Money Deposit. " Auction Company reserves the right to waive any or all registration requirements. " Auction Company reserves the right to decline any registration or ban any registered bidder at any time. Online Bidding " Bidding will be conducted online via online only auction. " Soft close means bidding will extend until no bids are submitted during the extended bidding period. " Bidding will extend on both lots if a bid is submitted on either lot in the final minutes of the auction. " If after we say a lot has closed there is determined to have been an internet service interruption or online bidding software interruption in the final 2 hours of bidding, Auctioneer reserves the right to re-open the lot for further bidding. However, if there is no internet outage or service interruption, then we will consider "closed" to mean "Sold". Auction Company will contact the final bidder directly to confirm when the lot is considered sold. " Neither Auctioneer nor Seller are responsible for failure of Auction Company computer systems, Bidder's computer system malfunctions, failure of Bidder to receive email notifications, vendor platform failures, internet connections, or any other event that prevents Bidder from bidding or Epic from receiving said bids. Buyers Premium " There will be a Ten Percent (10%) Buyers Premium charged for this auction. This amount will be added to Bidder's final bid to determine the final sales price. o As an example: If the Bidder's final bid is $100,000, the 10% buyer's premium will be added to this amount to arrive at the final sale price of $110,000. This final sale price will be the final price on which all transfer taxes and title insurance policies will be based. Contract Signing " The high bidders, at the conclusion of the auction event, will receive a phone call confirming their final bids. " The high bidders must meet with Auctioneer within 24-hours of the end of the auction to complete and sign the Purchase Agreement and deliver their earnest money deposit. Signing may be done via email. Earnest Money/Down Payment/Deposit for Real Property " The Earnest Money Deposit requirement for this auction is $50,000 per lot. Each winning bidder's $50,000 bidder deposit will be kept as their earnest money deposit requirement. If the same buyer wins both lots, an additional $50,000 deposit must be transferred to the auction company in the form of a certified bank check or wire transfer to be deposited with Auction Company within 24 hours after the completion of the auction. Winning bidders that fail to submit the fully executed Contract and full earnest money deposit amount will be considered in default. " Earnest money is 100% non-refundable. " Earnest money will be held by Auctioneer until closing. " Remaining balance to be paid in full on or before 45 calendar days after the auction at closing. Buyer Financing " Terms are Cash or Conventional Financing Only. " There are no contingencies for financing, appraisals, repairs, or inspections or any other requirements that may be requested by the mortgage company or any other entity on the Buyer's behalf. " Bidder is expected to have any needed pre-approvals in place for a mortgage, if necessary, prior to bidding. " Proof of adequate funds for Earnest Money Deposit may be required at Auctioneer's discretion. Closing " All closing costs will be paid by the Buyer including title insurance, recording fees, title fees, and transfer taxes. " Seller will execute a warranty deed conveying the property to Buyer at closing. " Closing will be handled by Mid-State Title from their East Lansing office. There will be no split closings. Closings can be handled remotely as needed. " Buyer must close within 45 calendar days from the close of the auction. " Seller will have up to 90 days from the date of official notice from the title company to clear any title defects that may be discovered prior to closing. " Taxes will be prorated to the date of closing. " Any closing that is delayed beyond 45 days without the written authorization of Seller and Auction Company due to any actions or inactions of Buyer or anyone working on behalf of Buyer, including lenders, inspectors, appraisers, etc., will cause Buyer to be considered to be in breach of contract. Buyer will forfeit all earnest money deposits and will be held responsible for any costs incurred by either Auction Company or Seller from the resale of the property. Disputes " In the event of any dispute regarding the auction and subsequent transfer of this property, all legal claims will be properly filed in Eaton County, in the State of Michigan. The information contained in this document is subject to verification by all parties relying on it. Though every effort has been made to gather accurate and correct information, neither the Seller nor Epic Auctions & Estate Sales assumes any liability for its accuracy, and/or any errors or omissions. Conduct of the auction and increments of bidding are solely at the discretion of the Auctioneer. 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, fitness, etc. All decisions of the Auctioneer are final. Sale shall include 100% of the mineral, oil, water, and gas rights that may be owned by the Seller. Neither Epic Auctions & Estate Sales nor the seller will not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. Epic Auctions & Estate Sales is acting only as the Seller's Agent regarding the sale of this property.

1717 and 1723 Heron Ridge Drive, Bloomfield Hills, MI 48203 Residential Real Estate Auction Selling in Two Separate Lots- Lot 1 - 1717 Heron Ridge with 6,250' Executive Home on Lake Lot 2 - 1723 Heron Ridge Drive - .585 Acre Vacant Building Lot on Lake Online Only Bidding Ends Wednesday, May 12 at 7 PM (soft close) Open Houses: Tuesday, May 4: 4 PM to 6 PM Saturday, May 8: Noon to 2 PM Monday, May 10: 3 PM to 5 PM * * * NOTICE - ALL Open House attendees must present mortgage pre-approval or bank letter proving ability to purchase at the security gate to view the properties. * * * This stunning 6,250 sq-ft waterfront executive home is located in the exclusive Heron Bay gated community and sits on the northern shore of Upper Long Lake. Heron Bay is located next to the beautiful Forest Lake Country Club. The home is built for luxury living and entertaining family and friends. Each of the 4 bedrooms is it's own suite with full bathrooms, walk in closets, and amazing views. The home is being offered by the original owner. The adjacent builing lot is just over half an acre with waterfront on Upper Long Lake. This property is one of the few remaining lake front building lots in this area. Buy it along with the home or buy only the lot to build your own stunning home. Home Features: - 4 Bedroom Suites - Living Space - 6,250 Sq. Ft. - Gross floor space - 9,630 Sq. Ft. - 3 Car Attached Garage - One Owner Home - Wine Cellar - Wet Bar - Huge Kitchen with breakfast area - Formal Dining Room - Solarium Greenhouse - 3 Season Room - HUGE Storage areas in basement - Indoor Hot Tub - Stunning Landscape - Brick Driveway - Gated Community with 24-Hour Security Gate Prospective bidders required to provide $50,000 bidder deposit prior to bidder approval. Deposits will be returned to unsuccessful bidders within 2 business days. Deposits in the form of certified bank check or wire transfer. A letter from your financial institution demonstrating your ability to purcahse and close on this home is required. Please read full terms and conditions for complete information. Please see our website for full listing details and the complete Bidder Information Packet. Winning bidder to sign the purchase agreement within 24 hours after the auction. Closing to occur within 45 calendar days. Closing and title work will be handled by Mid-State Title from their East Lansing office. Remote closings are available as well.