AUCTION TERMS & CONDITIONS Property: 312 Lexington Ave, Fort Wayne, IN Online Auction Start Time: Wednesday, September 11, 2024 – 9:00 am Online Auction Real Estate End Time: Wednesday, September 11, 2024 – 6:00 pm ** The close of bidding is a “soft close/ automatically extended.” if a bid is received during the last two minutes of bidding, it will automatically be extended an additional two minutes. PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON THIS PROPERTY IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS - DO NOT PLACE A BID BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE PROPERTY UNDER THE FOLLOWING TERMS AND CONDITIONS: UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be emailed a Real Estate Contract to either sign digitally or to print and sign without any modifications and return the completed and signed contract to The Steffen Group Inc. by email, fax or in person by 10:00 AM the day following the auction. Along with the completed, signed contract, the Winning Bidder will be required to send the specified non-refundable earnest money deposit as stated in the property description. This non-refundable earnest money deposit will be held in escrow until closing, and that amount will then be credited to the Buyer as part of the purchase price of the property. A successful bidder not executing and returning the completed contract and earnest money deposit by 12:00 Noon the day after the auction will be considered in default (unless other arrangements have been made with auctioneer). Such default by the successful bidder will result in the Bidder’s liability to both the Seller and The Steffen Group, Inc. Seller shall have the right to (a) declare this contractual agreement canceled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with The Steffen Group Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and The Steffen Group Inc. In addition, The Steffen Group Inc. also reserves the right to recover any damages separately from the breach of the Buyer. Method of Payment: A non-refundable earnest money deposit in the amount of 10% of the purchase price will be required at the conclusion of the online auction, with the balance due the day of final closing. Closing shall be within 30 days of the auction. This real estate is being sold for cash, and your bidding is not contingent upon financing. Have your financing prearranged prior to auction day. Buyers Premium: A 2% Buyers Premium will be charged to the Buyer and added to the winning bid. Thus, determining the final selling price of the real estate. Acceptance of Bid: The property is selling with reserve and subject to the confirmation of the seller. Title: Seller will provide the buyer with a commitment of title insurance in the amount of the purchase price insuring the transfer and marketability of the title. The seller will provide the buyer with a fully executed Personal Representatives deed conveying title to the buyer. Taxes: Taxes will be prorated to the day of final closing. Possession: Day of final closing. ** Any items that are at the property at closing become the responsibility of the Buyer. The Buyer will not be cleaning out the home; place your bids accordingly. Survey: The Seller will not provide buyer with a survey. If the buyer or buyer's lender requires a survey, it will be at the sole cost of the buyer. Agency: The Steffen Group Inc. is acting as the exclusive agent of the seller. Property Disclosure: This property is being sold as-is and where is with no warranty being expressed or implied as to the physical condition, specific zoning or available permits by the Seller, Auction Company or its Agents. The Buyer shall conduct his or her own investigation of the property and bid accordingly. Disclaimer and Absence of Warranties: All information contained in the brochure, website, and all related materials are subject to the terms and conditions outlined in the purchase agreement. The conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. BIDDING AND REGISTRATION INFORMATION BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, The Steffen Group Inc. has the right to reject the registration, and bidding activity will be terminated. The Seller and The Steffen Group, Inc. reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. If the registered bidder's user name is offensive to The Steffen Group, Inc. or, in their sole opinion, detrimental to Bidding Activity, then The Steffen Group, Inc. reserves the right to delete the bidder from bidding or unilaterally change the username with notification to the Bidder.