REAL ESTATE SALE TERMS & CONDITIONS

Attached to a part of the Purchase contract dated 6/___/25 covering the property commonly known as 10122 Jones Road, Bellevue, MI  49021

EARNEST MONEY DEPOSITS  Successful bidder must deliver an Earnest Money Deposit in the amount of $5,000.00 for Parcel 1, $10,000.00 for Parcel 2, and/or $5,000.00 for Parcel 3 within 48 hours of the conclusion of the auction.  Earnest Money Deposits are non-refundable and will be forfeited if Buyer does not consummate the transaction. 

BUYER DEFAULT  In the event the successful Bidder does not execute and return the Purchase Agreement with Earnest Money Deposit within 48 hours of the conclusion of bidding said Bidder will be considered in DEFAULT and may be liable for any/all costs incurred by the Seller and/or Spaul-Ding Associates, LLC for the subsequent resale of the property.

CONFIRMATION OF SALES   Successful bidders are required to execute a Purchase Agreement upon conclusion of the auction.  The Seller reserves the right to accept/reject any and all offers in its sole discretion.

CLOSING    The balance of the purchase price is due at closing.  Closings will  take place on or before July 29, 2025. All financing costs will be the Purchaser’s responsibility.  Any title company closing fees will be shared equally between Purchaser and Seller.

EVIDENCE OF MARKETABLE TITLE / DEED  An Owner's Policy of Title Insurance in the amount of the purchase price will provide evidence of marketable title subject to easements and restrictions of record.  The cost of the Owner’s Policy will be shared equally between Seller and Purchaser.  Sellers are responsible for all State/County Transfer Taxes.  Seller will convey title by Warranty Deed containing the following language:  “The grantor grants to the grantee the right to make ****  divisions under section 108 of the land division act, Public Act 288 of 1967 & Public Act 87 of 1997” and “This property may be located within the vicinity of farmland or a farm operation. Generally accepted agricultural and management practices which may generate noise, dust, odors, and other associated conditions may be used and are protected by the Michigan Right to Farm Act”.

**** Parcel 1 will receive __ splits,  Parcel 2 will receive _ splits, and Parcel 3 will receive__ splits. Sale is subject to Land Division Approval from Assryria Township and/or Barry County.

REAL ESTATE TAXES  Sellers are responsible for all real estate taxes/assessments billed in 2024 and prior years.  Real Estate taxes billed in 2025 will be pro-rateted to the date of closing.  The current drain assessment totaling $7,127.81 will be assumed by the Purchasers and divided between all 3 Parels.

MINERAL RIGHTS    Seller will convey 100% of all oil, gas and sub-surface mineral rights owned by the seller.  Seller does not warrant or guarantee said ownership.

SURVEYS/LEGAL DESCRIPTIONS    No survey has been completed for the parcel(s) being offered..  A survey will be required for any parcel where there is no existing legal description or where new boundaries are created by the parcel division of this auction.   The cost of the survey will be shared equally between the Seller and the Purchaser.  All acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.  Any maps used in the flyer to show boundaries are not a guarantee of exact lines.  They are merely being used to assist prospective purchasers in locating the parcels being offered.  All parcels are being sold in their entirety (not by the acre).  No adjustments will be made in the purchase price if an actual survey reveals acreage different than estimated in any pre-sale information and/or advertising materials.

PERSONAL PROPERTY There is NO personal property included in this sale.  Personal property includes, but is not limited to farm machinery, livestock, round bales, hunting blinds, any items stored in the buildings, and household furnishings.

POSSESSION   Possession will be on the date of closing.

CONDITION OF PROPERTY   The property is being sold in “As Is-Where Is” condition with no expressed or implied warranty of any kind.  The Seller and/or Spaul-Ding Associates, LLC assume that all Purchasers have inspected the condition of the property, its title, and rely on their own conclusions thereto when bidding on the property.

TIMED EVENT This Online Only Real Estate Auction is a timed event and has an auto-extend feature.  Any bid placed within 5 minutes of the auction ending time will automatically extend the auction 5 minutes from when the bid is placed.  The auto-extend remains active until no bids are received within the 5-minute time frame.

ANNOUNCEMENTS   made by Spaul-Ding Associates, LLC prior to the close of the auction will take precedence over printed and/or verbal statements.  Information in any/all ao the printed materials has been obtained from sources deemed reliable, however the Seller and/or Spaul-Ding Associates, LLC make no guarantees as to its accuracy. 

AGENCY DISCLOSURE  Spaul-Ding Associates, LLC its agents, employees and/or representatives are Exclusive Agents of the Seller.

AUCTION PREMIUM  A 10% auction premium will be added to the final bid and will become part of the total purchase price.

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Buyer                                                                                        date            Buyer                                                                                       date

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Seller                                                                                         date            Seller                                                                                        date