Name Online Only - Absolute Auction Real Estate
Auctioneer Tim Narhi Auctioneer & Associates LLC
Type Online-Only Auction
Date(s) 12/5/2022 - 12/8/2022
12/5 to12/8/2022 7pm Soft Close
Preview Date/Time November 25th 2022 From 10am to 2pm & November 29th 2022 9am to 1pm, December 7th 2pm to 6pm
Checkout Date/Time .
Location 805 Exchange St
Owosso, MI 48867
Buyer Premium 10% BP+3% Check & Credit surcharge
Description
On Line Only Absolute Auction Real Estate December 5th to December 8th 7pm Soft Close Tim Narhi Broker 810.348.6442 Property Specifications 805 E. Exchange St. Owosso MI 48867 o House with fenced back yard & detached garage " Property #; 050-380-003-015-00 " Legal Description - W 22' OF S ½ OF LOT 7 & E 22' of S ½ OF LOT 8 BLK 3 LAUBENGAYERS ADD " 4 Bedrooms o All 2nd Floor (sizes approximate) " North 9 X 15 ½ " South 9 x 15 " East 10 ½ x 11 " West 11 x 15 " 1 Bath1st Floor o at base of 2nd Floor stairway 7 ½ x 8 ½ " Dining Room 11 x 18 " Living Room 25 x 12 ½ " Kitchen 11 x 14 " Rear entry 5 x 11 " Approx 1750 Sq Ft. Living Space " Full unfinished basement w/ cement floor o Furnace " Forced Air Natural Gas Heat o Washer/Dryer and Laundry sink o Water Softener o Electrical " 150 Amp Service Panel " City Water & Sewer " 18 x 24 Detached Garage " Fenced Back Yard " Nearby Schools o Owosso o Emerson " Appliances o Electric Stove o Refrigerator o Clothes Washer o Clothes Dryer To be Offered & Sold Separate from 805 Exchange St Owosso MI 48867 804 E. Mason St. and 810 E. Mason St Owosso MI 48867 o Two vacant Lots to be sold together. " 804 E. Mason St. o Property #; 050-380-003-015-00 o Legal Description - E 22' OF N ½ OF LOT 8 & W 22' of N ½ OF LOT 7 BLK 3 LAUBENGAYERS ADD. " 810 E. Mason St. Owosso MI 48867 o Property #; 050-380-003-013-00 " Legal Description - E 44' OF N ½ OF LOT 7BLK 3 LAUBENGAYERS ADD.
Auction Terms & Conditions Auction Terms & Conditions: Bidder Packet or call Tim at 810.348.6442. Ask About Our "Purchase Now" Option. ONLINE ONLY REAL ESTATE AUCTION TERMS & CONDITIONS The Property offered in this On Line Only Real Estate Auction is being offered by Tim Narhi Auctioneer & Associates L.L.C. and representatives who are Exclusive Agents for the Seller. This Real Estate will be sold to the highest bidder at Absolute Auction. Any notice made after the initial posting of this Auction will take precedence over any and all prior statements correspondence, conditions, arrangements and or notices either written or verbal. The Auction Company encourages all bidders to attend the scheduled Property Preview, make and rely on their own inspection of the property. This Property is being sold As Is, Where Is, and with all faults without any guarantees or warranties of any kind. The sale of the property is neither subject to or to be delayed by any timing or findings of any inspection. The Buyer(s) also wave the 10 day lead base paint test. All bidders must register and provide a digital photo of their Drivers license, proof of capability to pay cash at closing via a current bank statement or a letter of approval from the bank addressing this Auction. Those bidding in behalf of a corporation or separate entity must provide Power of Attorney, or sufficient Letters of Authorization. Please send the information to info@narhiauctions.com with "Perkins Trust Real Estate" in the information line. Tim Narhi Auctioneer & Associates L.L.C. reserves the right to terminate, cancel and or reject any bids that are determined to not be in the best interest of the seller or from bidders whose identity cannot be verified. The Bidding increments are preset in amounts predetermined by the Auction Company. Be sure to verify your bids before you submit them. Be aware of the 10% Buyer Premium, double check the price and be sure your decimal point is where you want it. Bids placed cannot be removed once they have been submitted. This Auction will be conducted using a "Soft Close". The "Soft Close" feature will extend the bidding time for 5 minutes when a bid is placed within the last 5 minutes. This feature prevents someone from biding at the last few seconds and not allowing others to compete. This Auction will also allow you to place your maximum bid as early as you wish. The software will keep your bid placed and only increase it as other competition comes in. This is a Cash Sale with the successful high bidder required to enter into a Purchase Agreement Contract and make a $5,000.00 (for House Property) and $3,000.00 (for vacant lots) Earnest Money Deposit(s),(cash, certified, or wire transfer) immediately following the Auction with the balance due at closing. Closing will take place within 30 days after the close of the Auction or a soon as the title company is ready. In the event the high bidder does not make arrangement or notify Tim Narhi Auctioneer & Associates L.L.C. of a specific method of payment within 24 hours, the $5,000.00 (for House Property) and $3,000.00 (for vacant lots) Earnest Money Deposit(s),(and a 3% Credit Card use fee will be charged to the Credit Card that was used to register for the Auction ($5,150.00 and or $3090.00). The Earnest Money Deposit is non refundable upon default of the buyer. Wire Transfer, Credit Card Use and any other such fees or charges imposed to the high bidder for said service are the high bidders responsibility and are non refundable. If you are the High Bidder at the close of the Auction you are expected to contact Tim Narhi Auctioneer & Associates L.L.C. immediately following the close of the Auction, enter into the Purchase Agreement and deliver the Earnest Money Deposit. You will need to verify type of cash instrument you intend to use and or receive Bank Wire instructions. Failure to comply within 48 hours of the close of the Auction will deem you as the High Bidder to be in default. Once you are determined to be the High Successful Bidder, time is of the essences. If your closing is delayed by you or any party working in your behalf, you may be determined to be in breach of this contract, in forfeiture of your deposit and could be determined to be additionally liable for any and all cost incurred by the Seller(s) and incurred by Tim Narhi Auctioneer & Associates L.L.C. for subsequent resale of the property. A 10% Buyer's Premium will be added to the high bid to establish the "Selling Price". The "Selling Price" is the amount used to determine the Transfer Tax and Revenue Stamps. The Closing to be held within 45 days of the close or as soon as the title company is ready. Buyer is expected to make full payment of the balance due in cash at closing. This is a CASH sale. All financial arrangements should be made in advance. The sale of this property is not subject to the buyer's ability to obtain financing or a finance company determining a schedule. Be sure you have your money and or financing in order for closing. The Seller(s) will provide an owner's Title Policy and convey Title with a Warranty Deed at Closing. The Seller(s) will grant the Buyer(s) possession of the property at closing. Closing Fee/ Document Preparation charged by the Title Company will be shared equally by the Seller and the Buyer. The Buyer will pay recording fees and mortgage title policy (where applicable). The Seller has entered into a contract to sell the personal property at auction. The Seller will not be responsible for any abandoned or unsold lots; any personal property that has not been removed before closing will remain on the property and become part of the sale of the Real Estate. The Real Estate is sold subject to any and all existing matters of record, easements, local use and zoning laws & regulation. Taxes and assessments will be pro-rated to the date of closing. Tim Narhi Auctioneer & Associate L.L.C. and their representatives are exclusive Agents for the Seller(s). The Seller reserves the right to sell this property through Tim Narhi Auctioneer & Associate L.L.C. prior to the Auction. Broker Participation is available to any properly licensed Brokers who properly preregisters a Buyer. Broker must register the high successful bidder at least 24 hours in advance of the scheduled closing time of the Auction. A 2% commission derived from the high bid price will be available upon the successful closing. The terms and covenants of the purchase agreement, including these additional Terms & Conditions shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representatives and assigns of the Parties. --------------------------------------------- ------------------------------------------ --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 14.99 1.00 USD
15.00 - 49.99 2.50 USD
50.00 - 99.99 5.00 USD
100.00 - 249.99 10.00 USD
250.00 - 999.99 25.00 USD
1,000.00 - 2,499.99 50.00 USD
2,500.00 - 9,999.99 100.00 USD
10,000.00 - 19,999.99 250.00 USD
20,000.00 - 49,999.99 500.00 USD
50,000.00 - 99,999.99 1,000.00 USD
100,000.00 - 199,999.99 2,500.00 USD
200,000.00 - 499,999.99 5,000.00 USD
500,000.00 - 999,999.99 10,000.00 USD
1,000,000.00 - 9,999,999.99 25,000.00 USD
Currency USD
Buyer Premium 10% BP+3% Check & Credit surcharge
Payment Terms
See terms & conditions for payment information