Auction Terms & Conditions
Real Estate and Alcohol License
Bidding Soft Closes at 1 PM, June 20, 2018
Commonly referred to as: 1885 Dansville Road, Mason, MI 48854
The selling price of the real property, Liquor License, and Beer & Wine License shall be determined by competitive bidding via online only absolute multiple parcel "multi-par" auction.
" It is the Bidder's responsibility to read and fully understand all Terms and Conditions and property information prior to bidding.
" This auction is to be conducted by Epic Auctions and Estate Sale, Inc. hereinafter referred to as Auctioneer or Auction Company, on behalf of the owners of the property, hereinafter referred to as Seller.
" The terms Bidder and Buyer shall be defined as the individual or any company representing or represented by that individual, including any and all of its agents, employees, representatives, officers, owners, members, or directors.
" Auctioneer is not responsible for acts or representations of Seller.
" This is a cash only sale with no contingencies for financing, appraisal, repairs, or inspections
" Bidder is expected to have any needed pre-approvals in place for a mortgage, if necessary, prior to bidding.
" Auctioneer reserves the right to update the Terms and Conditions and any property information at any time. Those will be effective upon posting.
" The act of bidding shall constitute Bidder's acceptance of these Terms and Conditions in whole and individually. In the event that any individual Term or Condition is later found to be unenforceable, Bidder agrees that all remaining Terms and Conditions remain valid and in full effect.
" Seller will provide, at their expense, an Owner's Policy of Title Insurance and will execute a warranty deed conveying the property to Buyer at closing.
" Epic Auctions and Estate Sale, Inc., Auctioneer Robert Howe, Jr., and Auctioneer/Broker Bradley A. Stoecker are acting solely in the role of Seller's Agent. They are not acting as Agents of any potential Buyer and owe no fiduciary responsibility to anyone other than the Seller.
" Auction Company reserves the right to end this auction and cancel all existing bids at any time prior to the conclusion of the auction for any reason.
" All bidders are encouraged to attend an Open House to inspect the property to their full satisfaction. If the Bidder isn't satisfied with the condition of the property or they have any reservations about the bidding process, they are encouraged to discuss this with the auctioneer until they are satisfied, or refrain from the process of bidding.
" The information provided in auction advertisements and bidder information packets was obtained from sources believed by Auction Company and Seller to be accurate but is subject to verification by any and all parties relying on such information. No liability for its accuracy, errors, or omissions is assumed by Auction Company or Seller.
Real Property Information
" All properties are sold subject to any and all existing matters of record, all easements, and local zoning regulations.
" This property is sold "as-is" with no expressed or implied warranty provided by either Auctioneer or Seller.
" Specific property information is available either at the Epic Auctions and Estate Sales website or via email by request. Please read the property information on the listing and request a Bidder Information Packet from the Auction Company.
" Auction Company assumes no liability or responsibility for any defects or deficiencies of the property, either known or not known by Seller.
" Bidder is expected to read and understand all available information regarding the property and to perform their own due diligence to be fully informed about the property prior to bidding.
Liquor and Beer & Wine License Information
" Bidder/Buyer warrants that they are the proper person to be a holder of either an SDD Liquor License and/or SDM Beer and Wine license under the rules and regulations of the State of Michigan Liquor Control Commission and under applicable laws and that a transfer of either License will not be refused for any reason attributable to Bidder/Buyer.
" It is Buyer's responsibility to determine prior to the auction if either license can be transferred to the location of their choice.
" If the transfer of the license is refused for any reason attributed to Bidder/Buyer, there will be no refund or return of the monies that Bidder/Buyer has paid to Seller for the license and Bidder/Buyer is still required to close on the real property (if they were the accepted high bidder).
" Buyer agrees to sign the Purchase Agreement and submit the full purchase price for the license(s) in certified funds to the Auction Company within 24 hours of the end of the auction in the form of either a certified bank check or wire transfer.
" In order to facilitate collecting the funds for the licenses within 24 hours, we need to split the value of the licenses from the real estate which will close at a later date. The price of the license(s) will be deducted from the value of the real estate if it sells in any combination. We will use the following method to determine the final purchase price:
o If either license is sold separate from the real estate, the final purchase price will be the final high bid, plus the ten percent (10%) Buyer's Premium.
o If the Liquor License is sold in combination with the real estate, the final purchase prices will be the higher of either the last bid submitted for the license separately plus the ten percent (10%) Buyer's Premium or $50,000 plus the ten percent (10%) Buyer's Premium.
o If the Beer & Wine license is sold in combination with the real estate, the final purchase prices will be the higher of either the last bid submitted for the license separately plus the ten percent (10%) Buyer's Premium or $15,000 plus the ten percent (10%) Buyer's Premium.
" Example: The real estate and the liquor license sell together for a high bid of $500,000 and the Beer & Wine license sells separately for a high bid of $20,000. To determine the final selling price of the Liquor License, we will review what the last bid was for that license as a separate lot. For this example, the last bid for the license by itself was $40,000. The final sales price for the license will be $50,000 plus the Buyer's Premium. The Buyer will have 24 hours to submit the $55,000 final purchase prices to the auction company. The purchase price for the real estate will be $500,000 minus the $50,000 paid for the liquor license, plus the Buyer's Premium for a total of $495,000. The final purchase price for the Beer & Wine license sold by itself will be the final high bid plus the Buyer's Premium for a total price of $22,000
" Buyer agrees to file with the Michigan Liquor Control Commission its application for transfer of the licenses within 10 calendar days of the closing of the auction.
" There is no alcoholic beverage inventory associated with these Licenses and none shall be sold or transferred.
" All bidders must provide full legal name, mailing address, phone number, email address, and valid credit card information to register.
" All bidder identities will be verified to the satisfaction of the auction company. Any party that cannot be fully identified will have their bidder registration rejected and any and all bidding activity will be deleted.
" All bidders must be 18 years of age as of the day of the auction.
" Online bidder registration requires the submission of valid credit card information in order to be registered for a unique username and password.
" Online bidder identities will be kept confidential except to Auction Company staff and Seller.
" Auction Company reserves the right to waive some or all registration requirements.
" Bidding will be conducted online via a "multi-par" bidding process.
" Auction will be comprised of three (3) separate lots; Real Property, Liquor License, and Beer & Wine License.
" Bids can be submitted for any individual lot or for any combination of the 3 lots. At the conclusion of the auction, the combination of bids that produce the highest and best offer(s) will be the winning bid(s).
" All bids are final and constitute a binding contract.
" This online-only auction does not behave like nor conform to a live auction with which you might be familiar. If after we say a lot has closed there is determined to have been an internet problem, we may reopen the lot for further bidding. However, if there is no internet outage or service interruption, then we will consider "closed" to mean "Sold!"
" Neither Auctioneer nor Seller are responsible for failure of Auction Company computer systems, bidder's computer system malfunctions, failure of bidder to receive email notifications, vendor platform failures, internet connections, or any other event that prevents bidder from bidding or Epic from receiving said bids.
" There will be a Ten Percent (10%) Buyers Premium charged for this auction. This amount will be added to Bidder's final bid to determine the final sales price.
o As an example: If the Bidder's final bid is $100,000, the 10% buyer's premium will be added to this amount to arrive at the final offer price of $110,000. This final offer price will be the final price on which all transfer taxes and title insurance policies will be based.
" The high bidder, at the conclusion of the auction event, will receive an email confirming their final bid. The high bidder will be given instructions on how to sign and return the sales agreement and wire transfer information for the earnest money deposit.
Earnest Money/Down Payment/Deposit for Real Property
" $25,000 deposit in the form of a certified bank check or wire transfer will be deposited with Auction Company within 24 hours of the completion of the auction. Winning bidders that fail to submit the fully executed Contract and earnest money deposit will be considered to be in default.
" Earnest money is 100% non-refundable.
" Remaining balance to be paid in full on or before 45 days after the auction at closing.
" Title Company will be selected by Seller.
" Closing will be on or within 45 days from the close of the auction.
" Taxes will be prorated to the date of closing.
" Any closing that is delayed beyond 45 days without the written authorization of Seller and Auction Company due to any actions or inactions of Buyer or anyone working on behalf of Buyer, including lenders, inspectors, appraisers, etc., will cause Buyer to be considered to be in breach of contract. Buyer will forfeit all earnest money deposits and will be held responsible for any costs incurred by either Auction Company or Seller from the resale of the property.
" In the event of any dispute regarding the auction and subsequent transfer of this property, all legal claims will be properly filed in Ingham County, in the State of Michigan.
The information contained in this document is subject to verification by all parties relying on it. Though every effort has been made to gather accurate and correct information, neither the Seller nor Epic Auctions & Estate Sales assumes any liability for its accuracy, and/or any errors or omissions. Conduct of the auction and increments of bidding are solely at the discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.
Sale shall include 100% of the mineral, oil and gas rights that may be owned by the Seller.
Neither Epic Auctions & Estate Sales nor the seller will discriminate because of Race, Creed, Color, National Origin, Sex, Martial Status, Age, Handicap or families with children.
Epic Auctions & Estate Sales will act as the Seller's Agent in regards to the sale of this property.
Epic Auctions & Estate Sales
6461 Highland Ridge Drive
East Lansing, MI 48823
Sebae Data Solutions, Inc.
SERVICE TERMS AND CONDITIONS
ACCEPTANCE OF TERMS
Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: http://www.auctionflex.com/showtandc.ap
USE AND REGISTRATION
Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC.
In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).
DESCRIPTIONS OF SERVICE
Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections.
HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION
Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.
The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the www.hibid.com website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.
INTERNET ABSENTEE BIDDING
Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction.
Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction.
Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live".
Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid.
When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels).
The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions.
Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration.
Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer
Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms.
The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal.
Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement.
The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers.
Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers.
THE WINNING BID
The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid.
NOTICE OF END OF SALE, PAYMENT & SHIPPING
After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions.
BUYER'S PREMIUM, TAXES AND DUTIES
If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it.
All material and content as provided by the Service is protected by copyright and similar rights. You can not use or make available any of that material for any commercial purpose.
SPECIAL ADMONITIONS FOR INTERNATIONAL USE
Recognizing the global nature of the Internet, you agree to comply with all local rules regarding online conduct and acceptable content. Specifically, you agree to comply with all applicable laws regarding the transmission of technical data exported from the United States or the country in which you reside.
DISCLAIMER OF WARRANTIES
You expressly understand and agree that:
a. Your use of the service is at your sole risk. The service is provided on an "as is" and "as available" basis. Sebae expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
b. Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected.
c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material.
d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC.
LIMITATION OF LIABILITY
You expressly understand and agree that Sebae shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Sebae has been advised of the possibility of such damages), resulting from: (i) the use or the inability to use the service; (ii) the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the service; (iii) unauthorized access to or alteration of your transmissions or data; (iv) statements or conduct of any third party on the service; or (v) any other matter relating to the service.
EXCLUSIONS AND LIMITATIONS
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you.
You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.
You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items.
The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.