Beautiful 4/BR Home on 1.3ac in Belmont County
Lot 1:
Description
Real Estate Terms & Condition
Location: 53760 Farmington Road Bridgeport Ohio 43912
Auction date: September 17, 2025
Time: Contents at 4pm & Real Estate at 6pm
All capitalized terms used in this Summary of Real Estate Auction Terms & Conditions (“Summary”) shall have the
same meaning assigned to them in the Real Estate Auction Purchase Agreement (the “Purchase Agreement”), and
the Auction Listing Agreement (“Listing Agreement”), which is incorporated herein by reference. This Summary is
not intended to address every provision of the Purchase Agreement; rather it is a limited summary of certain
important terms and conditions governing real estate auctions conducted by Cambridge Realty & Investments,
LLC (“Broker”).
1. INSPECTIONS. Any desired inspections of the Property must be completed prior to bidding. The Closing of the
transaction contemplated by the Purchase Agreement is not contingent upon the satisfactory state of any
inspections required after the date of the auction. The Property sells in its present physical condition, “AS IS”.
2. DEED. Sellers will provide to Buyer a general warranty deed (or fiduciary deed, if appropriate) to the Property,
subject only to the Permitted Exceptions, as provided in the Purchase Agreement. Buyer will pay the CAUV tax
recoupment, if any, due and payable after the Closing.
3. ESCROW. The escrow agent/title agent (“Escrow Agent”) shall be chosen by Seller, unless, as a condition to
Buyer’s loan. Buyer’s lender requires use of a different Escrow Agent, in which case the Escrow Agent shall be
chosen by Buyer’s lender. (1) Seller, through escrow agent shall provide an Owner’s Policy of Title Insurance in the
amount of the Purchase price. (2) Seller shall pay the cost of the title search, deed preparation, and county
conveyance fees. (3) Seller and Buyer shall each pay one-half of the escrow agent’s standard closing fees. Seller
and Buyer shall each pay one-half of the commitment fee and premium for an Owner’s Policy of Title Insurance.
Buyer shall pay any additional costs, including, without limitation, the cost of a loan policy, title endorsements,
location survey or other items required by Buyer or Buyer’s lender. Broker advocates the use of title insurance in all
real estate transactions. Buyer or Buyers shall pay the cost, in charges for each newly surveyed parcel.
4. ACREAGE. The acreage comprising the Property, dimensions of the Property and road frontage amounts,
including lot markers, are approximate and subject to final survey, if required. In the event of an adjustment in
acreage the price of the property will be adjusted based on the per acre sale price. This is for properties which have
been sold using a per acre amount, not for properties sold as a lump sum price. Surveys will be at buyers cost.
5. DEPOSIT. Buyer shall deposit with Broker, on the day of the sale, in immediately available funds, a Deposit in an
amount of 10% of hammer price. The Deposit is non-refundable. By bidding at the auction, Buyer acknowledges
that its obligations under the Purchase Agreement will not be contingent on obtaining financing and Buyer
represents to Broker and Seller that it either has cash or is approved for a loan in an amount sufficient to discharge
any payment obligations it incurs at the auction. In the event that Buyer does not close in compliance with the
terms of the Purchase Agreement, the entire Deposit shall be forfeited and paid to the Seller as damages in
addition to other remedies Seller may be entitled to at law or equity; provided, however, that Broker shall be
entitled to retain a portion of the Deposit equal to the expenses paid by and billable
6. BUYER’S PREMIUM. Buyer and Seller acknowledge and agree that Broker may collect from Buyer, in addition to
the other fees agreed to between Seller and Broker, a buyer’s premium in the amount of
10% of the highest valid bid amount. The buyer’s premium, if any, will be added to the highest valid bid amount to determine the Purchase
Price of the Property.
7. CLOSING COSTS. Closing Costs related to the Purchase Agreement and Listing Agreement shall be allocated as
follows: Seller shall pay: (a) the cost of the title search and/or mineral search, (b) deed preparation, (c) county
transfer and conveyance fees. (d) real estate taxes and assessments related to the Premises prorated to the date of
Closing, except that Seller shall be responsible for any delinquent real estate taxes and assessments (e) If the Real
Property requires a survey, unless otherwise noted, the seller shall pay all surveying charges for each newly
surveyed parcel and any parcel requiring a survey for transfer; (f) Broker’s fees; and (g) the following fees specific to
the auction: NA. Buyer shall pay escrow agent’s standard closing fees and commitment fee and premium for an
Owner’s Policy of Title Insurance. Buyer shall pay any additional costs, including, without limitation, the cost of a
loan policy, title endorsements, location survey or other items required by Buyer or Buyer’s lender, and the
following fees specific to the auction: BUYER PAYING CLOSING COSTS.
8. INDEMNITY. Buyer and Seller mutually agree to indemnify and save harmless Broker, its employees, agents,
directors, and officers from and against any claim, demand, cost, damage, expense or liability arising from, or in
any way related to, the auction including without limitation the Seller’s failure to disclose any information related to
the Property, whether or not known by the Seller at the time of the execution of the Purchase Agreement. This
clause shall survive the Closing of the transaction and transfer of title to the Property.
9. NO BROKER REPRESENTATIONS. Buyer and Seller acknowledge they are obligated to conduct their own due
diligence relative to the Property and may not rely upon any such statements of Broker. The Property sells subject
to any announcements made on the day of sale. I, or we, as Buyer(s) & Seller(s) understand and agree to above
terms and conditions.
Share this lot:
