Secluded Rustic Log Home Auction
Secluded Rustic Log Home Auction
3 Bedroom Home - 8.79 Acres – Outbuilding – Tons of Potential
Tuesday, October 29, 2024 5:30pm
6744 Rice Road, Spencer, Ohio 44275
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Live Auction held on location with on-line bidding available at RES.BID
Real Estate: Located on a quite road, a nice rustic log home, outbuilding with double bays, woods with a trail all on 8.79 acres - full of nothing but upside potential. If you are looking for a slice of heaven that needs some updating, here it is. Also a perfect mini-farm, with land for a small pasture. OR a great hunting cabin with a great manageable woods. All kinds of opportunities to improve this property while loving how secluded it is.
This log home boasts 2 separate front porches, a large attached 2 car garage with lots of storage above. A great room to enter into with windows on both sides as well as a sky light above, and a door that can lead to a back porch- should you decide to add one. The kitchen has good space and an island in-between the dining room. The second entry and porch opens between the dining room and the large living room with stoic stone fireplace. Off of the living room is a office or den or great sitting room. A full bathroom finishes the first floor. Up the wooded stairs are the 3 bedrooms, some built-in storage as well as closets and a full bathroom that is currently inoperable. The downstairs has poured concrete walls, lots of storage space, a walk-out door and houses the boiler, fueled by wood or coal.
Outside is a large outbuilding with 2 overhead bays, electricity, water and gas overhead heat. This was once a workshop and man cave, and with a little work could be turned back into that again. The upper area is a great place for all kinds of storage. There is also a covered lean-to that used to be used for animals. Back behind this mowed area with lots of mature trees is the trail to the woods with plenty of places for tree stands and food plots. Here is a once in a lifetime opportunity, do not delay!!
Open House: Home will be open for inspection Tuesday, October 8 from 4:30-5:30pm & Tuesday, October 22nd 4:30-6PM. For private showings please call Mary Hartley 419-651-3586 or Andy White.
Taxes/Legal: Located in Medina County, parcel number 004-09C-14-002, Chatham township, Cloverleaf Local School District. Current annual taxes are $3,438.54 and will be prorated to the day of closing.
Terms: A 10% buyer’s premium will be applied to the final bid to determine purchase price. We require a 10% down payment the day of the auction with the final amount with in 45 days. All inspections need to be made prior to bidding. Property sold as is.
Auction by order of: Sandra Repp
Andy White – Mary Hartley 419-651-3586 – Drew Turner – Seth Andrews, Broker
TERMS AND CONDITIONS
1. Any person who registers or bids at this auction (the “Bidder”) agrees to be bound by these Terms and Conditions and any auction announcements. A bid placed by Bidder will be deemed conclusive proof that Bidder has read, understands, and agrees to be bound by these Terms and Conditions.
- There will be a 10% Buyer’s Premium added to the final bid, which is your final purchase price and the price that is recorded at the county auditor’s website.
- The bidding will be by the dollar.
- Any desired inspections must be completed prior to bidding. This purchase agreement is not contingent upon the satisfactory state of any inspections required after the date of the auction.
- Sellers will provide a marketable deed and convey the property as per terms of the Real Estate Purchase Agreement.
- Property Sells “AS IS”
- Property sells subject to articles in the present Deed, Title, and any articles or notices of public record.
- Buyer will pay CAUV tax recoupment if any, due and payable after deed conveyance.
- Seller, through Seller’s title agency, shall provide to Buyer: Warranty Title, The Escrow Agent shall be chosen by the Seller, however, if required as a condition of the load, the Escrow Agent shall be chosen by Buyer’s Lender.
- Seller shall pay for the cost of the title search, deed preparation and county conveyance fees. Seller and Buyer shall each pay one-half of the Escrow Agent’s standard closing fee. If an owner’s policy of title insurance is selected, the buyer and seller will split the owner’s title insurance 50/50, including, without limitation, the additional cost of the premium for insurance of an owner’s policy, the cost of a loan policy, title endorsements, location survey, or other items required by Buyer, or Buyer’s lender. Buyer shall pay for all recording fees. RES advocates the use of title insurance in all real estate transactions.
- Acreage and frontage amounts, including lot markers, are approximate and subject to final survey. (If required)
- RES requires a nonrefundable down payment (earnest money) of 10% of the purchase price at the time of purchase. The sale is not subject to any contingencies for financing.
- Earnest Money Deposit is NONREFUNDABLE; the contract contains no provisions for contingency on financing. In bidding, you are asserting you have the fundings to close. In the event Buyer does not close in compliance with the terms of this purchase agreement, all earnest money shall be forfeited and paid to the Seller as liquidation damage.
- Buyer agrees to indemnify and save harmless RES, its employees, and agents, from any liability stemming from any incorrect information given or any material information Seller fails to disclose whether or not known by the Seller at the time of the execution of the purchase agreement.
- Property sells subject to any announcements made the day of sale.
- It is the sole responsibility of Bidder to monitor RES’s website with respect to any updates or information regarding any Real Estate on which Bidder is bidding. Bidder acknowledges that information regarding the Real Estate may be updated or changed on RES’s website at any time prior to the conclusion of bidding and that Bidder has timely reviewed the Real Estate information or assumes the risk of not having done so.
- Once submitted, a bid cannot be retracted.
- The Bidder uses the online bidding platform at their own risk. RES is not responsible for errors or omissions in bid submissions or acceptance. RES does not guarantee the platform’s uninterrupted function, availability, or compatibility with the Bidder’s hardware or software. RES is not liable for any damages resulting from its use or attempted use, including failures, interruptions, or delays.
- In the event that Bidder is the successful bidder, Bidder must immediately execute the Contract for Purchase and Sale and tender a nonrefundable earnest money deposit in the form of cash, check, or immediately available, certified funds and in the amount set forth by RES, by 1:00 p.m. (EST) on the business day following the auction. The balance of the purchase price will be due at closing on the specified closing date. The Real Estate must close within 45 days of the date of the auction, or as otherwise agreed to by Seller and Bidder.
- Bidder acknowledges the closing may be delated for reasons beyond the control of Seller, Buyer, or Broker. Delays caused by survey, title issues, county agency approvals, lender processes shall automatically extend the closing date. Bidder agrees to cooperate in good faith to proceed to closing by the closing date or as soon after as practicable.
- RES has the right to establish all bidding increments.
- RES may, in its sole discretion, reject, disqualify, or refuse any bid believed to be fraudulent, illegitimate, not in good faith, made by someone who is not competent, or made in violation of these Terms and Conditions or applicable law.
- Bidder warrants and represents that they are at least 18 years of age and are fully authorized to bid.
