Auction Terms & Conditions TERMS AND CONDITIONS OF SALE REAL PROPERTY LOCATED AT
53 DEARBORN STREET, CITY OF JAMESTOWN
COUNTY OF CHAUTAUQUA, STATE OF NEW YORK,
IDENTIFIED AS: ALL OF TAX PARCEL: SECTION 387.18 BLOCK 3 LOT 46
Auction: Wednesday, September 23rd at 6PM w/ Webcast Bidding Available
Open House/Preview: Wednesday, September 23rd, 3PM-6PM
Auction Parcel: (All measurements & acreage is approximate)
A 50' x 114' city lot with a two story home and detached garage.
(1.) This property is being offered for sale "AS IS, WHERE IS", with no guarantees or warranties of any sort, either actual or implied, including but not limited to the septic/sewer, water system, plumbing, heating, electrical, interior and exterior of all buildings, any fixtures, and the land. City of Jamestown sewer and water.
(2.) All property boundaries are approximate, and no guarantees of any kind are given with respect to the acreage shown on tax maps or referred to in any existing deeds, surveys, or sale literature. If a land survey is required or desired it will be the responsibility of Purchaser to order and pay for prior to closing.
(3.) Prospective Purchasers are responsible for inspecting the property, being knowledgeable about its physical condition and any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, and understanding closing costs and fees, PRIOR TO THE AUCTION.
(4.) The sale will be subject to the approval of the Seller within 48 hours of the auction. The Seller reserves the right to accept or reject any and all bids, for any reason whatsoever.
(5.) The successful high bidder will immediately sign a Contract for Sale of Real Property and will place the following deposit of $3,500.00 in the form of cash or good check with Peterson Auction & Realty LLC to be held in their escrow account until closing.
(6.) The deposits will NOT be refunded if the sale is not completed due to the default of the Purchasers for any reason and therefore will be forfeited to the seller.
(7.) The deposits WILL be refunded in full to the Purchasers if the sale is not completed due to the default of the Seller for any reason.
(8.) The BALANCE will be due AT CLOSING, ON OR BEFORE October 30, 2020. POSSESSION will be granted at closing.
(9.) The Seller shall furnish an Executor's Deed to the Purchaser, free and clear of any liens or encumbrances, subject to any leases, easements, rights of way, or deed restrictions of record. All sellers' oil, gas, mineral, & timber rights will be conveyed to the purchasers at time of closing.
(10.) CLOSING COSTS - The Seller will pay for the Title Search update. Purchaser will pay for Revenue Stamps, TP 584 Filing Fee, Deed Recording Fee, RP5217 Filing Fee, and any costs in obtaining financing. Each will pay own attorney fees.
(11.) ALL PROPERTY TAXES will be PRORATED as of the CLOSING DATE.
(12.) Seller and/or Auctioneer reserve the right to cancel the auction for any reason prior to set auction date.
(13.) Michael W. Peterson is acting only as Sales Agent for the Seller, and has no personal interest in the property.
ANY ANNOUNCEMENTS MADE BY THE AUCTIONEER ON THE DAY OF THE SALE WILL TAKE PRECEDENCE OVER ANY PRINTED MATERIAL.
THE SELLER AND HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.
SELLER: Estate of Borge Rasmussen/ Kathy Ridgway, Executrix
ATTORNEY: Mark L. Bargar (716) 488-0758
3 Lakeview Avenue
Jamestown, New York 14701
BROKER: Michael W. Peterson, Peterson Auction and Realty LLC
Brokers License #: 10491210026
164 Ivory Street, Frewsburg, New York 14738
Telephone: 716-665-0668 Fax: 716-661-9629
E-mail: firstname.lastname@example.org Web Site: www.petersonauction.com
Location: 53 Dearborn Street, Jamestown, New York 14701
TAX PARCEL NUMBER: Section 387.18 Block 3 Lot 46
Deed Book: 1447 Deed Page: 122 Sale Date: 3/15/1973
FULL MARKET VALUE: $ 52,700.00
2020 TAXES: $ 811.75 Town/County: $ 811.75
School: $ 0
SCHOOL DISTRICT: Jamestown Public Schools
ALL MEASUREMENTS ARE APPROXIMATE:
House: 1,584 sq ft two story house with a detached garage (garage in very poor condition)
Includes Appliances: Kenmore side by side refrigerator/freezer, Maytag dishwasher, Whirlpool gas stove, Amana electric dryer, Rope washer
Roof: asphalt shingle
Foundation: poured walls
Basement: 24' x 24', concrete floor w/ drains, laundry hookups, sink/wash bin, toilet
Siding: wood shake
Electric: 100 amp w/ breakers (tube & wire knobing in attic)
Heating: Mongreif natural gas octopus gravity heat
Water Heater: 30 gln gas
Windows: thermo pane with some new vinyl
Jamestown Public Sewer & Water
1st Floor: 856 sq ft of living space
Full Covered Front Porch: 7' x 24'
Main Entryway: 6' x 8', carpet
Eat-In Kitchen: 12' x 12', linoleum flooring, center light, porcelain double bowl sink drainboard, white cupboards w/ wood on top and metal on bottom
Den: 8' x 8', bow window, built in shelves, carpet, center light
Dining Room: 12' x 13', carpet, center light
Living Room: 13' x 15', carpet, ceiling light w/ fan, faux mantel/fireplace piece, built in shelves
Full Bathroom: 7' x 8', linoleum flooring, toilet, single sink, walk in shower, linen cabinet, broom closet, medicine cabinet w/ side lights, exhaust fan over shower, ceiling lights
2nd Floor: 728 sq ft of living space
Hallway has built in linen cabinet
1st Bedroom: 9' x 15', carpet, center light, large walk in closet, linen closet
2nd Bedroom: 8' x 12', carpet, center lights, large walk in closet
3rd Bedroom: 6' x 12' carpet, center light, small closet, access door to attic, door to roof top
Full Bathroom: 6' x 7', linoleum flooring, single sink, toilet, tub/w shower surround, exhaust fan, built in linen closet
REAL ESTATE AGENCY RELATIONSHIP DISCLOSURE AND ACKNOWLEDGMENT OF PROSPECTIVE PURCHASER -
I HEREBY ACKNOWLEDGE THAT I UNDERSTAND THAT:
MICHAEL W. PETERSON, Auctioneer, Broker, and Owner of PETERSON AUCTION & REALTY LLC., License Number 10491210026
Is employed by the SELLER- ESTATE OF BORGE RASMUSSEN/ KATHY RIDGWAY, EXECUTRIX, to act as Sales Agent for property located at 53 Dearborn Street, City of Jamestown, County of Chautauqua, State of New York: IDENTIFIED AS ALL OF TAX PARCEL: SECTION 387.18 BLOCK 3 LOT 46 to be offered at public auction,
And therefore they owe the SELLER the following fiduciary duties: reasonable care, undivided loyalty, confidentiality, full disclosure, obedience, and a duty to account.
In dealings with the PURCHASER(S), Seller's Agents are required to exercise reasonable skill and care in performance of the agents' duties; deal honestly, fairly, and in good faith, and disclose all facts known to the agents that materially affect the value or desirability of the property.
HEREBY ACKNOWLEDGE THAT I HAVE READ AND UNDERSTAND THE TERMS AND CONDITIONS OF THIS AUCTION. I understand that the property is being sold "as is, where is", and that I am responsible for inspecting its physical condition and being familiar with any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, PRIOR TO THE AUCTION.
BY ACCEPTING THE ABOVE TERMS & CONDITIONS YOU ARE ALSO ACCEPTING THE AGENCY DISCLOSURE SHOWN ABOVE.
A.) In order to participate in Peterson Auction & Realty LLC. online auctions, users must register with Peterson Auction & Realty LLC. by filling out a registration form. During the registration process the credit card you are putting on file will be charged $ 1.00 to verify that it is a valid credit card. This charge is nonrefundable and is the cost of registration to use the auction site. Upon approval of card and submission of the registration form, such user shall become a 'Registered User'. "Registered Users" agree that such information shall be (and kept) current, complete and accurate. Peterson Auction & Realty LLC. reserves the right to disapprove, suspend or terminate User accounts for any reason, at it's sole discretion, and prohibit such User(s) from participating in the Services.
B.) During the registration process, Users will select a 'Member ID', and password. Users are solely responsible in all aspects for all use of the login information provided by Peterson Auction & Realty LLC. Users agree to notify Peterson Auction & Realty LLC. immediately of any unauthorized use of any Member ID or password, or any other breach of security regarding the Site.
C.) Peterson Auction & Realty LLC. is not responsible and shall not be held liable for interruptions or loss of internet connectivity, user errors or software issues, system failures of the bidder, or their internet provider, or due to unforeseen acts of nature.
D.) Neither Peterson Auction & Realty LLC. or any Seller make any warranties or representations of any kind or nature with respect to the property in the online auctions. When bids are accepted by the seller then All sales are final and no refunds will be issued. All merchandise is sold "as-is", with no warranty, written or implied. No warranty is made with respect to the accuracy of any information provided to bidders regarding auction items, provided in either written or image form, and bidders should rely solely on their own investigation and/or research of the item or items they place bids on. Descriptions and photographs provided in online auction listings are for bidder convenience only. We recommend that all potential bidders personally and physically inspect all auction merchandise, before bidding.
E.) Once the system accepts your online bid, you have entered into a binding contract with Peterson Auction & Realty LLC., and are obligated to pay for your winning bid(s). By bidding, you are agreeing to be held personally liable for the bid amount, buyer's premium, and any other fees or applicable taxes specified in the item description. Bidders agree that bidding on the Site is the legal equivalent of a firm purchase order. Peterson Auction & Realty LLC. reserves the right, and you acknowledge and agree to its exercise of this right, to notify third parties, including law enforcement authorities, credit bureaus, other auction companies and industry regulators and authorities, about bidder's involved with or connected to fraudulent bidding or the failure to fully pay invoices in accordance with our terms and conditions and the terms and conditions of the auction involved.
F.) By using this service, you agree that any dispute concerning an auction, any bid, use of the online auction service, or goods purchased shall be governed by and resolved in accordance with the laws of the State of New York, that you consent to personal jurisdiction over you in New York State, and that the exclusive locale and venue for any claim, dispute or legal action concerning same shall be the New York State Supreme Court, County of Chautauqua . A proceeding commenced in any other jurisdiction or venue shall be immediately dismissed and/or transferred to the Chautauqua County Supreme Court. If you commence a claim or legal action in other than the Chautauqua County Supreme Court, then you agree to be liable for all attorney's fees, court costs and disbursements incurred by Peterson Auction & Realty LLC. in connection with obtaining a dismissal and/or transfer of the matter. If you fail to pay for your winning bid, including the buyer's premium, or any portion thereof, then you shall be liable for all attorney's fees, court costs and disbursements incurred by Peterson Auction & Realty LLC. in attempting to collect the amounts due. In all other respects, attorney's fees, disbursements, and court costs associated with any claim, dispute or legal action between the parties to this Agreement shall not be recoverable by one party against the other.
G.) If a purchase agrrement is not signed by bidder / purchaser witin the required time period the pre-auction deposit will be forfited with no recourse and the property will be offered to the backup bidder(s) and/or re-listed in the online auctions. Peterson Auction & Realty LLC. reserves the right to offer any real estate that was not paid for to any qualified buyer in order to satisfy the needs of our selling clients.
H.) Peterson Auction & Realty LLC. does not transfer legal ownership of items from the Seller to the Buyer. The Buyer will become the Item's lawful owner upon physical receipt of the Item. Peterson Auction & Realty LLC. shall not be responsible for dispute claims filed after an auction Item has been removed from the Seller's premises by the Buyer, the transportation company hired by the Buyer, or any and all other agents of the Buyer.
I.) All items listed on www.petersonauction.com are sold 'Subject to Seller Approval' after the auctions close unless otherwise stated as being sold absolute to the highest bidder. Sellers that consign merchandise or Real Property to our auctions reserve the right to accept or decline bids after the auction has concluded. Members who are the high bidder on a specific lot or item will be notified of approval or decline of such bids and auctions they have participated in by email within 48 hours of close of the auction.
J.) For payments made with cash, money order, wire-transfer or guaranteed funds, no buyer's premium will be added to the high bid price unless stated in the terms of an individual auction. A 3.5% convievce fee will be added to the high bid price for payments made with credit cards, debit cards, personal or business checks. Read the payment terms in each auction listing to see whether there is a buyer's premium charged. All buyers will be charged appropriate sales tax unless they provide a completed resale certificate or other appropriate tax-exempt documentation with their payment.
K.) Peterson Auction & Realty LLC. reserves the right to reject or void bids, whether winning or not, which it believes were not been made in good faith, or are intended to manipulate the auction process, or are prohibited by law. If Peterson Auction & Realty LLC. determines that a Seller or someone associated with the Seller has bid on that Seller's own item (shill bidding). Peterson Auction & Realty LLC. will ban the Seller from future use of Peterson Auction & Realty LLC., internet auction site. Cancel the involved transaction(s) and the Seller will be charged a Seller Default Penalty of a minimum of $ 1000.00 (one thousand dollars), or 25% of the high bid placed, whichever is greater.
L.) Peterson Auction & Realty LLC. reserves the right to withdraw, cancel, or postpone any auction listing at our discretion, and Peterson Auction & Realty LLC will have no liability to prospective bidders or Sellers as a result of any withdrawal, cancellation or postponement of any auction.
M.) Peterson Auction & Realty LLC. makes every effort to accurately describe real estate, vehicles and equipment using standard industry terms. Buyers must refer to the pictures contained in the auction listings to clarify their understanding of the specific item characteristics. Peterson Auction & Realty LLC. cannot be responsible for misinterpretation or oversight by the Buyer.
N.) Without limiting other remedies, we may limit, suspend, or terminate our service and user accounts, prohibit access to our website, delay or remove hosted content, and take technical and legal steps to keep Users off the Site if we think they are creating problems, possible legal liabilities, or acting inconsistently with the letter or spirit of our policies, terms and conditions. We also reserve the right to cancel accounts that have been inactive for over a one year period.
O.) If any provision of this Agreement is held or determined to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.