Bidding Process and Policies

Registration is needed to bid on properties. All listed properties are auctioned to the highest bidder. A credit card is required to register. Bids will be placed in increments of $100.

All winning bidders will be contacted within 3 business days of the auction end date. The winning bidder must tender a $300 non-refundable fee in the form of a cashier’s check or money order made payable to the Wayne County Land Bank, which will be applied to the purchase price at closing. If the winning bidder fails to close on the property, the $300 will be forfeited.

TERMS AND CONDITIONS OF SALE

READ THESE TERMS OF SALE CAREFULLY. BY PARTICIPATING IN THE AUCTION YOU AGREE TO THESE TERMS AND MAKE REPRESENTATIONS AS SET OUT HEREIN. THESE TERMS ARE LEGALLY BINDING AND IF YOU VIOLATE ANY OF THESE TERMS WAYNE COUNTY LAND BANK AND ITS EMPLOYEES, AGENTS AND REPRESENTATIVES, HEREAFTER REFERRED TO AS “WCLB“, MAY SEEK LEGAL RELIEF, INCLUDING BUT NOT LIMITED TO REPORTING YOUR CONDUCT TO APPROPRIATE LAW ENFORCEMENT ENTITIES. PLEASE NOTE THAT THESE TERMS INCLUDE AN AGREEMENT BY WHICH YOU INDEMNIFY THE WCLB.

TERMS OF SALE: IF YOU SUCCESSFULLY BID ON A PROPERTY, YOU WILL BE REQUIRED TO PUT A NON REFUNDABLE $300 DEPOSIT DOWN IN THE FORM OF A CASHIER’S CHECK OR MONEY ORDER MADE PAYABLE TO WAYNE COUNTY LAND BANK. THIS IS A CASH SALE AND IS NOT CONTINGENT ON THE BUYER’S ABILITY TO OBTAIN FINANCING. EARNEST MONEY IS NOT CONSIDERED AN “OPTION” PAYMENT. YOU ARE AGREEING TO CLOSE ON THE PROPERTY WHEN YOU SUCCESSFULLY BID ON THE PROPERTY. IF YOU ARE NOT CERTAIN THAT YOU WANT TO PURCHASE THE PROPERTY, DO NOT BID ON IT. IT IS YOUR RESPONSIBILITY TO INSPECT THE PROPERTY PRIOR TO PLACING A BID.

THE $300 WILL BE YOUR EARNEST MONEY DEPOSIT FOR THE PROPERTY AND WILL NOT BE REFUNDED UNDER ANY CIRCUMSTANCES.

THE SUCCESSFUL BIDDER FOR EACH PROPERTY SHALL EXECUTE A PURCHASE AGREEMENT FOR EACH PROPERTY AFTER BEING DECLARED THE SUCCESSFUL BIDDER. A SAMPLE PURCHASE AGREEMENT IS AVAILABLE FOR YOUR REVIEW BY CLICKING HERE 

CLOSING: ALL PROPERTIES MUST CLOSE ON OR BEFORE 30 DAYS AFTER THE PURCHASE AGREEMENT SIGNING. ALL PROSPECTIVE BIDDERS SHOULD CONSIDER ENGAGING COUNSEL OF THEIR OWN CHOOSING TO EXAMINE THE COMMITMENT FOR TITLE INSURANCE AND ALL MATTERS REFERRED TO THEREIN AS AFFECTING THE STATE OF TITLE OF PROPERTIES ON WHICH THEY INTEND TO BID.

BUYER WILL BE REQUIRED TO PAY ALL CURRENT AND PAST DUE TAXES AND WATER BILLS AGAINST THE PROPERTY PRIOR TO THE DATE OF CLOSING. BUYER MUST BRING A RECEIPT FOR THE PAYMENT OF ALL PAST DUE TAXES TO THE CLOSING APPOINTMENT.

Disclaimers: (a) The property will be sold by WCLB to buyer on an “as is, where is, and with all faults” basis. Buyer accepts all faults of the property whether known or unknown, presently existing or that may hereafter arise. Buyer acknowledges and agrees that WCLB has not made, does not make and specifically negates and disclaims any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether expressed or implied, oral or written, past, present or future, or, as to, concerning or with respect to: (i) the value, nature, quality or condition of the property, including, without limitation, the water, soil and geology; (ii) the income to be derived from the property; (iii) the suitability of the property for any and all activities and uses which buyer may conduct therefrom; (iv) the compliance of or by the property or its operation with any laws, rules, ordinances or regulations of any applicable governmental authority or body; (v) the habitability, merchantability, marketability, profitability or fitness for a particular purpose of the property; (vi) the manner or quality of the construction or materials, if any, incorporated into the property; (vii) the manner, quality, state of repair of the property; (viii) the existence of any view from the property or that any existing view will not be obstructed in the future; or (ix) any other matter with respect to the property, and specifically, without limitation, that WCLB has not made, does not make, and specifically disclaims any representation regarding compliance with the Americans with Disabilities Act or with any environmental protection, pollution or land use laws, rules, regulations, orders or requirements, including solid waste (as defined by the U.S. Environmental Protection Agency regulations at 40 c.f.r., part 261), or the disposal or existence, in or on the property, of any hazardous substance (as defined by the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, and regulations promulgated thereunder).

(b) Buyer further acknowledges and agrees that having been given the opportunity to inspect the property, buyer is relying solely on buyer’s own investigation of the property and not on any information provided or to be provided by the WCLB. Buyer further acknowledges and agrees that any information provided by or on behalf of WCLB with respect to the property including, without limitation, all information contained in any property information package previously made available to buyer by the WCLB was obtained from a variety of sources and that WCLB has not made any independent investigations or verification of such information and make no representation as to the accuracy or completeness of such information.

(c) Buyer acknowledges that WCLB may have acquired the subject property by foreclosure or by deed in lieu of foreclosure and, accordingly, has little or no familiarity therewith. Buyer further acknowledges that WCLB has not built the property, WCLB makes no representations or warranties with respect to the physical condition or any other aspect of the property, including without limitation the structural integrity of any improvements on the property, the conformity of the improvements to any plans or specifications for the property that may be provided to buyer, the conformity of the property to applicable zoning or building code requirements, the existence of soil instability, past soil repairs, susceptibility to landslides, sufficiency of undershoring, sufficiency of drainage, or any other matter affecting the stability or integrity of the land or any buildings or improvements situated thereon.

(d) Buyer and anyone claiming by, through or under buyer hereby fully and irrevocably release WCLB and their respective employees, officers, directors, representatives and agents from any and all claims that buyer may now have or hereafter acquire against WCLB, their employees, officers, directors, representatives and agents for any cost, loss, liability, damage, expense, demand, action or cause of action arising from or related to any construction defects, errors, omissions or other conditions, including environmental matters, affecting the property, or any portion thereof. This release includes claims of which buyer is presently unaware or which buyer does not presently suspect to exist in his favor which, if known by buyer, would materially affect buyer’s release of WCLB. It is understood and agreed that the purchase price has been adjusted by prior negotiation to reflect that the property is sold by the WCLB and purchased by buyer subject to the foregoing.

(e) BUYER ASSUMES ENTIRE RESPONSIBILITY AND LIABILITY FOR ANY CLAIM OR ACTIONS BASED ON OR ARISING OUT OF INJURIES, INCLUDING DEATH, TO PERSONS OR DAMAGES TO OR DESTRUCTION OR LOSS OF PROPERTY, SUSTAINED OR ALLEGED TO HAVE BEEN SUSTAINED BY BUYER, ITS AGENTS, PRINCIPALS AND/OR EMPLOYEES, IN CONNECTION WITH OR TO HAVE ARISEN OUT OF OR INCIDENTAL TO THE AUCTION, INCLUDING BUT NOT LIMITED TO THE PERFORMANCE OF THIS CONTRACT, REGARDLESS OF WHETHER SUCH CLAIMS OR ACTIONS ARE FOUNDED IN WHOLE OR IN PART UPON ALLEGED NEGLIGENCE OR NEGLIGENT MISREPRESENTATIONS OF WCLB, OR THE EMPLOYEES, AGENTS, INVITEES, OR LICENSEES THEREOF. BUYER FURTHER AGREES TO INDEMNIFY AND HOLD HARMLESS WCLB AND THEIR REPRESENTATIVES, AND THE EMPLOYEES, AGENTS, INVITEES AND LICENSEES THEREOF IN RESPECT OF ANY SUCH MATTERS AND AGREES TO DEFEND ANY CLAIM OR SUIT OR ACTION BROUGHT AGAINST WCLB AND EMPLOYEES, AGENTS, INVITEES, AND LICENSEES THEREOF.

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