ONLINE AUCTION TERMS
Minerals: All mineral interests owned by the Seller, if
any, will be conveyed to the Buyer(s).
Taxes: Real estate taxes will be prorated to closing.
Conditions: This sale is subject to all easements, covenants,
restrictions of record, and leases. Each Bidder
is responsible for conducting, at their own risk, their
own inspections, inquiries, and due diligence concerning
the property. All property is sold on an “AS ISWHERE
IS” basis with no warranties or guarantees,
either expressed or implied, by the Seller or Farmers
National Company.
Possession: Possession will be granted at closing on
May 20, 2021 or such other date agreed to by the parties.
Earnest Payment: A 10% earnest money payment is
required on the day of the bidding. The payment may
be in the form of cashier’s check, personal check, company
check, or wired funds. All funds will be deposited
and held by the closing agent.
Contract and Title: Immediately upon conclusion of
the bidding, the high bidder(s) will enter into a real estate
contract and deposit with the closing agent the
required earnest payment. The Seller will provide an
owner’s policy of title insurance in the amount of the
contract price. The cost of title insurance will be equally
paid by both the Seller and Buyer(s).The cost of any
escrow closing services will be equally paid by both
the Seller and Buyer(s). Sale is not contingent upon
Buyer(s) financing.
Closing: The sale closing is on May 20, 2021, or such
other date agreed to by the parties. The balance of the purchase
price will be payable at closing in guaranteed funds
or by wire transfer at the discretion of the closing agent.
Survey: At the Seller’s option, the Seller shall provide
a property survey sufficient to provide good title where
there is not an existing legal or where new boundaries
are created. The Seller will pay the survey cost. Final
contract prices will be adjusted to reflect any difference
between the advertised and actual surveyed acres.
Sale Method: The real estate will be offered in two individual
tracts. All bids are open for advancement
starting Wednesday, April 7, 2021, at 9:00 AM until
Thursday, April 8, 2021 at 1:00 PM, subject to the automatic
bid extend feature outlined in these terms and conditions.
Auctions are timed events and subject to extended
bidding due to bidding activity. Any bid placed within
five minutes of the auction ending will automatically extend the auction for five minutes from the time the bid is placed. The auto-extend feature remains active until no further bids are placed within the five minute time frame. All decisions of Farmers National Company are final.
Approval of Bids: Final sale is subject to the Seller’s
approval or rejection.
Agency: Farmers National Company and its representatives
are acting as Agents of the Seller.
Announcements: Information provided herein was
obtained from sources deemed reliable, but neither
Farmers National Company nor the Seller makes any
guarantees or warranties as to its accuracy. All potential
bidders are urged to inspect the property, its condition,
and to rely on their own conclusions. All sketches,
dimensions, and acreage figures are approximate or
“more or less”. Any announcements made auction day
by Farmers National Company will take precedence
over any previous printed materials or oral statements.
Farmers National Company and the Seller reserve the
right to preclude any person from bidding if there is any
question as to the person’s credentials or fitness to bid.
Online Bidding Procedure:
This online auction begins on Wednesday, April
7, 2021, at 9:00 AM. Bidding closes on Thursday,
April 8, 2021, at 1:00 PM.
To register and bid on this auction go to:
www.fncbid.com
All bids on the tracts will be visible on-line, but the identity
of bidders is confidential. See auction terms and
conditions for minimum bid requirements and details.
Server and Software Technical Issues: In the
event there are technical difficulties related to the
server, software, or any other online auction-related
technologies, Farmers National Company reserves
the right to extend bidding, continue the bidding, or
close the bidding. Neither the company providing the
software nor Farmers National Company shall be
held responsible for a missed bid or the failure of the
software to function properly for any reason. E-mail
notification will be sent to registered bidders with updated
information as deemed necessary by Farmers
National Company.