Real Estate Auction Terms

7 Tract Multi Par Auction, Fort Wayne, IN

May 17th, 2022 @ 6:00 PM

Procedure: These properties are being offered by public auction with reserve in eight individual

tracts, any combination of tracts or all the properties to one buyer. Live and simulcast bidding

available during the auction. Bidding will start with individual tracts then as a whole and then

offered in combinations. These properties can sell in any way to net the Sellers the highest

amount. There will be a 3-minute timer used towards the end of the sale to determine when

the auction ends.

Agency: Bartkus Auctioneers Company and its representatives are exclusive agents of the

Sellers.

Down Payment: 5% Down Payment on the day of auction with the balance in cash at closing.

The down payment can be in the form of cashier’s check, personal check, or corporate check.

Your bidding is not subject to financing or condition of the dwellings so be sure you have

arranged financing.

Acceptance of bid: This is an auction with reserve. The Sellers have the right to accept or reject

any bids. The Successful bidder or bidders will be required to enter into a purchase agreement

at the auction immediately following the close of the auction and be prepared to deliver the

down payment.

Tenants Rights: The current tenants in these homes are under contract to rent. The new owner

will receive any deposits at closing. The Buyer will continue to rent until the contract date on

the lease at the contracted monthly rental amount. Refer to terms and conditions on each

individual tract.

Evidence of Deed and Title: Seller shall provide a deed and owners title insurance policy in the

amount of the purchase price on each individual tract at closing.

Closing: The balance of the purchase price is due at closing which will take place within 35 days

or 15 days of presentation of insurable title. Closing costs for an insured closing will be split by

the Seller and Buyer 50/50. If multiple tracts are purchased by a Buyer, the tracts will all still

have individual closings.

Possession: Possession shall be the day of closing on all tracts.

Real Estate Taxes: Real estate taxes will be prorated to the day of closing. 2022 taxes will be

listed on each individual tract’s terms.

Survey: A new boundary survey will be completed only if needed. The Seller shall order the

survey. The cost of the survey will be split by the Buyer and Seller 50/50.

Online Bidding Available: You may bid online during the auction at

www.bartkusauctioneers.com. You must register & submit a bank letter 24 hrs in

advance of the auction for your bids to be approved. For online bidding information, call

Bartkus Auctioneers at 260-433-8117. BIDDER PRE-REGISTRATION STRONGLY

ENCOURAGED!

NOT SUBJECT TO APRAISAL OR FINANCING. ALL SALES ARE FINAL AND SOLD AS IS. ANY

ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL

OR ANY OTHER ORAL STATEMENTS MADE.

*There will be a 3% buyer’s premium to be paid at closing. *

Auction to be held Trademark Title, 9625 Coldwater Road Fort Wayne

IN, 46825 on May 17th. Showing dates are May 3rd and 10th from 5-7

Southeast Fort Wayne, IN Investment Properties