Residential Property Auction Details

100 West Howard Street, Lake Crystal, MN 56055
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100 West Howard Street, Lake Crystal, MN 56055
Auctioned: 3:15 PM Thursday, January 20, 2011
100 West Howard Street, Lake Crystal, MN 56055
316920 00-996-BC-JL/01-2011

2BR 1BA 1,092+/- sf single-family. Built in 1975. Approx .16ac lot.
Property ID:316920

Auctioned: 3:15 PM Thursday, January 20, 2011

REAL ESTATE AUCTION

Legal Description: HUNTS 2ND ADDITION 004 013 00 County: BLUE EARTH, MN APN: R09-07-32-387-007 Census Tract / Block: 9710.00 / 3 Alternate APN: 0732387007 Township-Range-Sect: Subdivision: HUNTS ADD 02 Legal Book/Page: Map Reference: 07-32 / Legal Lot: 4 Tract #: Legal Block: 13 School District: 2071 Market Area: Munic/Township: CITY OF LAKE CRYSTAL Neighbor Code:


Auctioned: 3:15 PM Thursday, January 20, 2011


Disclosures: Deed Restriction Disclosure. Buyer understands property has a short term (3 month) deed restriction prohibiting the property from being sold/encumbered for more than 120% of total purchase price.



Re-Keying the Property. Buyer acknowledges that seller will re-key the exterior doors to the property prior to closing and funding at the buyer's expense to be paid at closing.



Title/Closing Costs. Regardless of local custom, the buyer understands and agrees that the seller will pay for the owner's title policy and lender's title policy (if any) and that the buyer will pay all other closing/transfer costs including survey, escrow, all closing fees, and all realty transfer taxes.



Personal Property Not Included. Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.


Disclosures: Deed Restriction Disclosure. Buyer understands property has a short term (3 month) deed restriction prohibiting the property from being sold/encumbered for more than 120% of total purchase price.



Re-Keying the Property. Buyer acknowledges that seller will re-key the exterior doors to the property prior to closing and funding at the buyer's expense to be paid at closing.



Title/Closing Costs. Regardless of local custom, the buyer understands and agrees that the seller will pay for the owner's title policy and lender's title policy (if any) and that the buyer will pay all other closing/transfer costs including survey, escrow, all closing fees, and all realty transfer taxes.



Personal Property Not Included. Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.
Terms of Sale:

Registration at the auction confirms your agreement to the terms and conditions of sale as stated in the Contract for Sale and its Addenda (the 'Contract') which are incorporated by reference into your bidding. DO NOT BID unless you have registered, received a Bidder's Card and Sale Day Notes and have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming a high bidder.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Read the Contract and Sale Day Notes to determine the existence of any disclosures, exclusions, representations and disclaimers. Do not bid if you have not inspected the property(s). By bidding you agree to all disclosures.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.

An Auction Services Fee of $3,000 OR a Buyer's Premium (Buyer's Fee in WI) of 5% will be added to the high bid and included in the total purchase price. Please see the Sale Day Notes, The Contract for Sale, and/or the Auctioneer for specifics about the property you wish to bid on.

Each high bidder must make a 5% non-refundable deposit per property ($2,500 MINIMUM - whichever is greater) immediately following auction. Cash, cashier's checks, personal checks and business checks (electronically processed) are accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. The balance of the purchase price and all closing costs are due at closing. Closing costs generally total approximately $1,500 and include title exam, title policy, closing fee, filing costs and any other fees noted.

Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or re-schedule an auction. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding usually takes less than 3 minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.

Your inspection of the property(ies) and attendance at this auction are at your own risk. Broker and Seller, their agents and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damage to their person or property while in, on or about these properties, nor shall they be liable for any defects, dangers or conditions on the property(ies). All persons enter the property(ies) and attend the auction at their own risk and shall defend, indemnify, and save harmless Broker and Seller, their agents and employees, from any and all liability attendant thereto.

All auctions are subject to court or seller approval. Most sales are approved within 14 days. Buyers are not allowed possession until Closing and filing of the deed, at which time the property should be re-keyed. If for any reason the court or Seller approval is not granted, the Down Payment shall be returned in its entirety to the high bidder. "Showing" requests from Buyers after the auction may not be able to be accommodated.

If more than one property is being auctioned, the Auctioneer may choose to offer a group of the properties for auction at the same time. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. Anyone may bid at any time, including prior High Bidders.

Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the Contract and Sale Day Notes for a full and complete understanding of Williams & Williams and Seller's disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.



Legal Description: HUNTS 2ND ADDITION 004 013 00 County: BLUE EARTH, MN APN: R09-07-32-387-007 Census Tract / Block: 9710.00 / 3 Alternate APN: 0732387007 Township-Range-Sect: Subdivision: HUNTS ADD 02 Legal Book/Page: Map Reference: 07-32 / Legal Lot: 4 Tract #: Legal Block: 13 School District: 2071 Market Area: Munic/Township: CITY OF LAKE CRYSTAL Neighbor Code:
Property
100 West Howard Street,
Lake Crystal, MN 56055
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MN Broker:

Bradford P. White Re Lic 40225687
Cynthia Louise Dees Re Lic 40359755
Williams & Williams Re Lic RC147414


Auctioneer:

Cody Lowderman Auc Lic 4911077
Jack Lowderman Auc Lic 490-50-70