ABSOLUTE REAL ESTATE AUCTION

Transcription

1 ABSOLUTE REAL ESTATE AUCTION SAT., SEPT. 23, 2017 at 11 AM 1050 Angus Lane,York PA Acres Dover Township, York County Zoning: R-1 (Low Density Residential) & C (Commercial) Property ID: 24000KG Taxes: Approximately $4, Clean & Green 2100 Sq Ft 2-Story Stone Home Barn and 2-Car Garage Open House Dates: Sat., Sept 2nd and Sat., Sept. 9th from 12 2PM General Terms: 10% at auction, balance on or before 45 days. A 2% Broker Participation fee will be offered to any Broker / Realtor that register their clients a minimum of 48 hours prior to the auction, is ultimately the successful winning bidder, and settles on the property. Must be someone the auction company has not already been in contact with independently of the broker. See website to download registration form. Provided for informational purposes only, buyer should do all of their own due diligence on the property and their intended use thereof. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein. Property is being sold in As-Is Condition, with no warranty given as to the condition of the property, any hazards that may be contained herein or warranty as to the buyer s intended use. Seller: Estate of Esther M. Hake / Attorney: Douglas P. France, Esq.

2 Dear Prospective Buyer: Jennings and Grosh, Inc. DBA Jennings Auction Group is pleased to have been chosen to offer you this outstanding York County property. Please take the opportunity to review this information. This property is available to be inspected on Sat., Sept. 2 nd and Sept. 9 th from 12:00 PM to 2:00 PM or by appointment. After reviewing this information, please feel free to call with any additional questions that you may have that have not been answered in the enclosed information packet. All the information that is provided in this packet is believed to be accurate, but is subject to verification by any interested parties. It is the responsibility of the potential purchaser to verify property boundary lines. We look forward to seeing you at the auction on Saturday, September 23, 2017 at 11:00 A.M. Sincerely, BJ B.J. Jennings, President Jennings and Grosh, Inc. 15 HYKES MILL ROAD YORK HAVEN, PA PHONE Fax

3 CONDITIONS OF PUBLIC SALE FOR REAL ESTATE Estate of Esther M. Hake 1050 Angus Lane, York PA The conditions for the public sale of real estate at 1050 Angus Lane, York PA; being offered for sale on behalf of The Estate of Esther M. Hake., on September 23, 2017 beginning at 11:00 A.M.: 1. The sale is to be held by Jennings Auction Group on behalf of The Estate of Esther M. Hake. The sale of real estate is being sold Absolute with no reserve. 2. Heirs to The Estate of Esther M. Hake, if they so choose, are permitted to bid on the property. They will be subject to all the same conditions and requirements as all bidders; including signing of the Agreement of Sale and payment of the non-refundable 10% deposit if they are the declared high bidder. 3. A bid constitutes an agreement to purchase if the bidder is ultimately announced to be the High Bidder at the conclusion of bidding. If any disputes arise as to any bid, the AUCTIONEER reserves the right to cause the property to be immediately be put up for sale again. 4. Immediately upon being declared the high bidder, such bidder shall sign a bid acknowledgement form. 5. The sale shall be free and clear of all liens and encumbrances of any nature, excepting zoning use requirements and easements of record. The seller of this property, The Estate of Esther M. Hake, the seller s attorney, or the auctioneer, makes no representations regarding the real estate as to its use, restrictions or any other matter. 6. The current taxes, sewer rents, and utility services, if any, shall be prorated as of the date of the settlement. 7. The seller shall convey a good and marketable fee simple title to the purchaser by a standard Pennsylvania Executor s deed. In the event such title cannot be given by the seller, then the down payment shall be returned to the purchaser and the purchaser shall have no further claim against the seller. 8. The purchaser of the real estate shall pay ten (10%) percent down in cash, PA check or in some other acceptable form as specified in the Agreement of Sale at the time the property is struck down by the auctioneer. Any request for exceptions to this down payment requirement shall be

4 considered by the AUCTIONEER, but she/he is under no obligation to grant any exceptions. This deposit shall be non-refundable for any reason except the Seller s inability to provide a good and marketable title. 9. The purchaser shall also sign a written agreement of sale (as prepared by the seller s representatives) for the real estate immediately following the conclusion of the public auction. 10. The balance of the purchase price for the real estate is to be paid in cash or other guaranteed funds to the seller on or before November 7, 2017 at the office of Douglas P. France, Esquire, located at 2675 Eastern Boulevard, York, PA 17402; or any other location agreed upon between the parties, at which time settlement shall occur. Time shall be of the essence. 11. The purchaser shall pay the 2% realty transfer tax. 12. The sale of the real estate shall be in an as is condition without warranty or representation by the seller as to the use or condition of the property. All risk of loss with respect to the property shall remain with seller until the date of settlement. All potential bidders agree that they have performed a thorough property inspection, completed all necessary due-diligence, or by bidding in today s auction are waiving their right to do so. 13. This purchase of the real estate is in no way contingent upon the purchaser s ability to obtain financing. If the purchaser of the real estate shall fail to pay the balance of the purchase price or to comply with any of the terms of the written agreement, the deposit shall be forfeited as liquidated damages, and the seller may proceed to resell the real estate where such breach occurred, at either public or private sale, without further liability to the purchaser. 14. Should the purchaser need or desire a perimeter survey of the real estate, such survey shall be conducted by the purchaser at the expense of the purchaser. The requirement of the survey shall not delay or extend the settlement date. 15. The sale of the property is for the real estate only and does not include any personal property as may be present at the time of sale. All personal property shall be removed as of the time of settlement. Any personal property not removed by time of settlement shall convey with the real estate and become the property of the purchaser. 16. Possession of the real estate shall be given to the purchaser at settlement.

5 JENNINGS AND GROSH, INC. dba Jennings Auction Group 15 Hykes Mill Rd. York Haven, PA AGREEMENT OF PUBLIC SALE OF REAL ESTATE OFFERED BY: The Estate of Esther M. Hake LOCATED AT: 1050 Angus Lane, York PA PARCEL NO: 24000KG Highest Bidder. This property is being sold Absolute to the highest bidder. The highest and best bidder shall be the BUYER. If any disputes arise to any bid, the SELLER / AUCTIONEER reserves the right to cause the property to be immediately put up for sale again. 2. The purchase price shall be the high bid. 3. Real Estate Taxes. All real estate taxes for the current tax period shall be pro-rated between the BUYER and SELLER to the date of settlement on a fiscal year basis. All real estate taxes for prior years have or will be paid by SELLER. 4. Transfer Taxes. BUYER shall pay 100% of the realty transfer taxes. 5. Terms. Handmonies equaling 10% of the purchase price shall be paid in the form of cash, good PA check, cashier's check or certified check at the conclusion of the auction and with the signing of this agreement. In lieu of cash, PA check, cashier's check or a certified check; out of state personal / business checks will only be accepted if accompanied by an irrevocable Bank Letter of Guarantee. Any checks are to be made payable to Jennings and Grosh, Inc. This deposit is non-refundable for any reason other than the SELLER S inability to provide a good and marketable title. The balance due, without interest, shall be paid at settlement, which shall take place on or before November 7, 2017 when a standard Pennsylvania Executor s deed will be delivered and actual possession will be given to BUYER. The BUYER shall also sign this agreement and comply with these terms of sale. 6. Forfeiture. The time for settlement shall be of the essence. In case of noncompliance by the BUYER with any terms of this Agreement, the SELLER shall have the option, in addition to all other remedies provided by law, equity and this Agreement, all such remedies being cumulative and not alternative, to exercise any one or more of the following remedies: (a) To retain the BUYER S deposit money as liquidated damages, regardless of whether or not, or on what terms, the property is retained or resold; and/or (b) To resell the property at public or private sale, with or without notice to the present BUYER, and to retain any advance in price, and to hold the present BUYER liable for any loss resulting from such resale, meanwhile holding the deposit money paid hereunder as security for payment of such loss. 7. Marketable Title. A good and marketable title will be given free and clear of all liens and encumbrances. The real estate is being sold subject to any and all restrictions and rights-of-way of record in the York County Courthouse and which may, or may not, be visible by inspection of the premises. 8. Risk of Loss. SELLER shall maintain the property, grounds, and fixtures specifically sold with the property in its present condition, normal wear and tear excepted. SELLER shall bear the risk of loss for fire or other casualties until the time of settlement. In the event of damage by fire or other casualty to any property included in this sale that Buyer s Initials Seller s Initials: 1

6 is not repaired or replaced prior to settlement, BUYER shall have the option of rescinding this Agreement and promptly receiving all monies paid on account of the purchase price or of accepting the property in its then condition, together with the proceeds of any insurance obtainable by SELLER. BUYER is hereby notified that BUYER may insure BUYER'S equitable interest in the property as of the time of execution of this Agreement. 9. Warranty. The BUYER expressly acknowledges and understands that the BUYER is buying the property in its present As-Is condition and that the SELLER makes no representation or warranty of any kind whatsoever with regard to the condition of the premises or any components thereof, including but not limited to, the roof, the electrical system, the plumbing system, the heating system, or any other part of the structure(s), or any other improvements on the land. A. Radon. SELLER has no knowledge concerning the presence or absence of radon. The SELLER makes no representation or warranty with regard to radon or the levels thereof. B. Lead-Based Paint. If the building was built before 1978, there may be lead-based paint present. SELLER has no knowledge of lead-based paint and/or lead-based paint hazards in the building and has no reports or records pertaining to lead-based paint and/or hazards in the building. BUYER waives any ten (10) day lead-based paint assessment period. C. Property Inspection. BUYER has inspected the property, or hereby waives the need for inspecting the property. BUYER understands the importance of getting an independent property inspection and has thought about this before bidding upon the property and signing this Agreement. D. Fixtures and Personal Property. No warranty is given to Buyer as to the working / functional condition of any fixtures or equipment that shall remain on property. All other personal property that is not a fixture is reserved to Seller, which personal property may be removed prior to settlement. Any personal property remaining on the property at the time of settlement shall become the property of the Buyer. E. Ventilation / Mold. The SELLER makes no representations or warranties with regard to mold or the absence of mold, adequate or inadequate air exchange or venting, or any other matters of construction wherein mold may be present in the real estate. F. "As Is". The property is being sold "AS IS" at the time of sale. The SELLER herein makes no representations or warranties as to the condition of the real estate or any improvement or structure erected on the real estate, including without limitation, any system or portion thereof. The Purchaser accepts the property "AS IS". No representation is made or warranty given regarding the presence or absence of any hazardous or toxic substances, materials or waste, or that the real estate is in compliance with any federal, state or local environmental laws or regulations. The Purchaser waives any claims for any liability imposed through any environmental actions. This agreement shall survive closing. A seller's disclosure (if applicable) has been made available to BUYER prior to the public auction and shall be exchanged by BUYER and SELLER upon the signing of this agreement. If the SELLER is an estate, the personal representative will not deliver a disclosure to BUYER inasmuch as they are not required by law. 10. Financing. This contract is in no way contingent upon the BUYER s ability to obtain financing. In the event the BUYER does obtain financing, the SELLER will not pay points, settlement costs, or otherwise render financial assistance to the BUYER in this regard. 11. Dispute Over Handmonies. In the event of a dispute over entitlement of handmoney deposits, the escrow agent holding the deposit shall retain the monies in escrow until the dispute is resolved. In the event of litigation for the return of deposit monies, the agent holding handmoney shall distribute the monies as directed by a final order of court or a written agreement of the parties. BUYER and SELLER agree that, in the event any agent is joined in the Buyer s Initials Seller s Initials: 2

7 litigation for the return of deposit monies, attorney s fees and costs of the agent will be paid by the party joining the agent. 12. Zoning. The parties acknowledge that no representation whatsoever is made concerning the use of the property that may be permitted under local zoning ordinances, and that the BUYER has satisfied himself that the zoning of the property is satisfactory for his contemplated use thereof. The BUYER hereby waives any applicable requirement for the SELLER to provide a certification of zoning classification prior to settlement pursuant to the Disclosure Act of July 27, 1955, P.L. 288, Section 3, as amended and reacted (21 P.S. Section 613). 13. Entire Agreement. This Agreement represents the entire Agreement between the parties, and supersedes any previous Agreements or understandings, oral or written. This Agreement may not be changed or modified except in a writing signed by the parties and executed with the same degree of formality as this Agreement. (a) This Agreement of Sale shall also incorporate the Conditions of Sale. 14. This Agreement shall survive closing. SELLER: Dated: By: Randy L. Hake as Co-Executor of the Estate of Esther M. Hake Dated: By: Ricky L. Hake as Co-Executor of the Estate of Esther M. Hake Buyer s Initials 3 Seller s Initials:

8 AGREEMENT OF BUYER(S): I/We Of Telephone No: Social Security No: hereby acknowledge that I/we have become the BUYER(S) of real estate known as: 1050 Angus Lane, York PA Property ID # 24000KG for the total purchase price of $ subject to the foregoing conditions of sale with which I/we agree to comply. Dated: Dated: Buyer Buyer Purchase Price $ Handmoney delivered to Jennings and Grosh, Inc. $ Balance due at final settlement (not including settlement costs) $ Jennings and Grosh, Inc. Dated: By: 15 Hykes Mill Rd. Billie J. Jennings, President York Haven, PA Jennings and Grosh, Inc. P: F: Estate of Esther M. Hake Dated: By: Randy L. Hake as Co-Executor of the Estate of Esther M. Hake Dated: By: Ricky L. Hake as Co-Executor of the Estate of Esther M. Hake Buyer s Initials 4 Seller s Initials:

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17 TAX PARCEL INFORMATION: PARCEL ID NUMBER PROPERTY ADDRESS 24000KG ANGUS LN SCHOOL TAX ($) 3, COUNTY TAX ($) MUNICIPAL TAX ($) OTHER TAX ($) 0.00 TOTAL TAX ($) 4, PROGRAM HOMESTEAD FARMSTEAD CLEAN & GREEN NO NO SCHOOL DISTRICT 006 MUNICIPALITY 24 CLASS F LAND USE CODE 910 ACRES DEED BOOK 105W DEED PAGE 0859

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20 Zoning DOVER TOWNSHIP 0, (&5. 6 & 7 0, ( ( "" "#$% < % ## 8 = ## ( "5 "#$% < 5 ## 8 > ## ( "5 "#$% < % ## 8 = ## 7 % "#$% < % ## 8 = ## 8, "#$%, ', * 6 * 9 : ( "#$% / "#$; * 6 33 ( &! & ( 2 of 5 5/18/17, 8:35 AM

21 Fields Aerial Map May 18, field,45acresinYorkCounty,PA York County, PA field acres township/section/apn owner (last updated) APN: 24000KG HAKE RICHARD E& ESTHER M HAKE(09/30/2015) AcreValue 2017 Granular, Inc. All Right Reserved. Use of this report is subject to Granular s Terms of Service. All information is provided without any express or implied warranties of any kind. Land prices are estimates of valuation and not certified appraised values. AerialMap:1of1

22 Fields Soil Survey May 18, field, 45 acres in York County, PA avg nccpi 44.5 county avg 49.5 W Rw ReB PoC PpC PpB quality All fields 45 ac Source: NRCS Soil Survey soil code soil description acres percentage of field soil class nccpi PpB Penn-Lansdale complex, 3 to 8 percent slopes % PoC Penn-Klinesville channery silt loams, 8 to 15 percent slopes % ReB Readington silt loam, 3 to 8 percent slopes % Rw Rowland silt loam % W Water % N/A N/A PpC Penn-Lansdale complex, 8 to 15 percent slopes % % 44.5 AcreValue 2017 Granular, Inc. All Right Reserved. Use of this report is subject to Granular s Terms of Service. All information is provided without any express or implied warranties of any kind. Land prices are estimates of valuation and not certified appraised values. Soil Survey: 1 of 1

23 Fields Crop History May 18, field, 45 acres in York County, PA All fields 45 ac Non-Cropland 60.0% 60.0% 61.5% 60.3% 58.2% Soybeans 32.7% 0.6% 32.6% 37.5% Corn 6.2% 37.6% 0.5% 2.2% Grass/Pasture 1.0% 1.0% 4.9% 12.2% 0.5% Double Crop 23.4% Other 0.7% 0.5% 4.1% 1.6% Source: NASS Cropland Data Layer AcreValue 2017 Granular, Inc. All Right Reserved. Use of this report is subject to Granular s Terms of Service. All information is provided without any express or implied warranties of any kind. Land prices are estimates of valuation and not certified appraised values. Crop History: 1 of 1

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25 HOW TO BUY REAL ESTATE AT AUCTION Do your homework. We urge that you inspect the property and review the information packet; we want you to be comfortable and confident about purchasing real estate through the auction method of marketing. What does the term Reserve mean? Under a reserve auction the auctioneer will submit the highest and best bid to the seller. The seller has the right to accept or reject the bid. With a reserve auction the amount of the reserve is not typically disclosed ahead of the auction; in many instances this amount is somewhat flexible and will ultimately be decided on auction day. What does the term Absolute mean? In an absolute auction the property will be sold to the highest and last bidder regardless of price. In some instances a hybrid of the 2 auction types may be offered. A property will be advertised that it will sell to the highest and last bidder regardless of price above an opening bid of $100, (or an amount appropriate to the particular property being offered). This opening bid amount is typically significantly lower than the market value of the property. Do I need to pre-qualify? No, pre-qualification is not necessary to bid on a property. However, you must understand that if you intend to obtain bank financing, they will have lending criteria that you must be able to meet. The 10% deposit that is required at the conclusion of the auction for the successful buyer is non-refundable and not contingent upon your ability to obtain financing. We recommend that you talk to your bank ahead of the auction to be sure that you will be able to obtain the financing that you require. You will need to have at the auction a non-refundable down payment as described in the terms and conditions of the auction. This deposit may be require guaranteed funds, or if a personal check, accompanied by a Bank Letter of Guarantee. It is your responsibility to gather all information necessary to make a decision as to how much this property is worth to you. The auction will begin promptly at the scheduled time. You should plan on arriving 30 to 60 minutes ahead of the scheduled time to be able to complete the registration process. Please bring with you a driver s license, or another form of photo ID. If you have a non-photo ID for religious reasons, please bring another form of ID as well (check book with name and address, credit card, etc.). Listen carefully to any announcements and ask any questions that you may have prior to the start of the auction.

26 When the auction actually begins, the auctioneer will start the process by asking for an opening bid. In many instances the auctioneer may have additional personnel called ring men working with him / her that will talk to registered bidders ahead of the start of the auction, and they will present an opening bid to the auctioneer on behalf of someone at the auction. At the point that an opening bid is received, the auction begins, and the bidding for the property will go up by the auctioneer calling out the next bid that he / she is looking for. If you are willing to bid, simply raise your hand (or otherwise acknowledge your willingness to bid). Please be sure that your bid is noticed, in a large crowd this can sometimes be difficult, and the auctioneer will not want to miss your bid. If you intimidated about bidding, please make contact with one of the ring men that will assist you by bidding on your behalf to the auctioneer. In the instance of a reserve auction, the bidding may come to a slow down, but not necessarily be at a point where the seller is willing to sell the property. There will generally be a break in the auction at this point for the auctioneer to consult with the seller and the high bidder. This is often the point where the seller will agree to allow the property be sold, the reserve price has been met, and the property will sell to the ultimate last and highest bidder. The auctioneer will resume the bidding at this point with the approval of the seller, announce that the property is going to sell to the highest bidder because the seller has lifted the reserve. If during the bidding process in an auction with reserve we do not reach a price that is acceptable to the seller, the auctioneer will negotiate with the high bidder and the seller to hopefully reach an acceptable amount that the buyer will be willing to the property, and the seller will be willing to sell. If you are the winning bidder at the conclusion of this process and declared the purchaser, you will need to pay the required deposit monies and sign an agreement of sale. It s easy CONGRATULATIONS!

27 Sample Bank Letter of Guarantee (On Bank Letterhead) Dated: September 23, 2017 Addressed to: Jennings and Grosh, Inc. 15 Hykes Mill Road York Haven, PA To Whom It May Concern: This letter will introduce (purchaser s name) who is a valued customer of this bank. This bank will guarantee any checks drawn on this account # (insert account number) that are written by (insert your name) which shall be made payable to Jennings and Grosh, Inc.; and is good for a period of thirty days from date of auction on September 23, 2017 and for any amount up to (insert dollar amount). We hereby agree that this guarantee is irrevocable and that no stop payment will be issued in conjunction with this letter, and covers the deposit requirement for purchase of the real estate located at 1050 Angus Lane, York, PA as offered by Jennings and Grosh, Inc. (as agent) for The Estate of Esther M. Hake on September 23, Sincerely, President, Vice President, Or Loan Officer (Attention: This letter of guarantee must accompany any check written for the auction and must be approved at the time of registration.)

28 IMPORTANT CLOSING REMINDER: This auction is not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration and prior to bidding. This is also specified in the Agreement of Sale that you will sign immediately after the conclusion of the auction, when you are confirmed as the high bidder at the auction. Closing shall be scheduled to occur on or before 45 days of the auction. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender that you may involve you may be declared in breach of this contract, forfeit all deposits made and could be additionally liable for any and all cost incurred by the Seller and Jennings and Grosh, Inc. in the subsequent resale of the property. If you have any questions as to your ability to perform the closing within the time frame specified, please contact auctioneer prior to bidding in the auction. Sincerely, BJ B.J. Jennings, President Jennings and Grosh, Inc. dba Jennings Auction Group 15 HYKES MILL ROAD YORK HAVEN, PA PHONE Fax