Terms &

Conditions

Terms and Conditions (E-SIGN)

SUMMARY OF TERMS AND CONDITIONS-

Before you start bidding, it's crucial that you thoroughly review the property information package, including the purchase agreement documents. This step is not just a formality, but a key to your successful navigation of the auction process. Remember, the purchase agreement documents take precedence over the terms and conditions.

To obtain the property information package, you must create an account by logging in to the AuctionNow.bid website. If you prefer a more formal request, you can send an email to info@auctionnow.bid.

  • Auction Manager:
  • Nick Pinotti, Realtor® and Auctioneer
  • (419) 283-8800 or nick@auctionnow.bid 

For general information on the auction process, please review the Frequently Asked Questions under “Learn.” We are here to support you throughout the process, so if you have any additional questions or need further clarification, please don't hesitate to reach out to us.

- Buyer's Premium: 10% of the highest bid or $4,000, whichever is greater, will be added to the final bid.

- Closing: Typically, 30 days. Property is sold As-Is, Where-Is with no contingencies.

- Deposit: A deposit of 10% or more than $4,000 is required upon winning the bid.

- Broker Co-op: Commission paid to the properly registered buyer-broker at closing.

- Agency Disclosure: The Broker, Realtors®, and Auctioneer act as agents for the seller.

- Minimum vs. Starting bid: The minimum bid is the seller's lowest acceptable price, while the starting bid is the initial bidding point. However, the seller reserves the right to accept the final bid.

      - Purchase Agreement: Takes precedence over the terms, conditions, and printed materials.

All bidders must agree to the Terms & Conditions of the Auction Transaction before bidding. This agreement sets the ground rules and ensures a fair and transparent auction process. We strive to maintain the highest level of transparency, and we want you to feel confident and secure in your participation. Please note that listings may be withdrawn or modified without notice at any time.

TERMS AND CONDITIONS for TIMED ONLINE AUCTIONS-

The following Terms and Conditions apply to online auctions by Nick Pinotti, Realtor® and Auctioneer. These auctions typically feature residential and commercial properties.

The Realtor® and Auctioneer is conducting this auction as a timed online auction. Bidders must acknowledge that they have read and understand these Terms and Conditions before registering and bidding on an auction. Sometimes, the Realtor® and Auctioneer may need to add additional terms and conditions (the “Additional Terms and Conditions”) to ensure a fair and transparent auction process. You must acknowledge that you have read and understand any Additional Terms and Conditions.

Agency for Seller: The Broker, Realtors®, and Auctioneer act exclusively as agents for the seller.

Auction Registration: Registration is available online at AuctionNow.bid. Next, the prospective bidder receives an email indicating you must provide proof of funds from your bank or financial institution. This ensures client funds cover the required earnest deposit before enabling online bidding. The proof of funds must be a verified copy of your current bank, brokerage, or institution's statement. The required statement must be in the bidder’s name and show sufficient funds for the amount of deposit needed. Please note that the proof of funds should be recent, typically within the last 30 days, and clearly show the available balance.

Documents Available: A bidder’s information package will be available online at AuctionNow.bid and include Purchase Agreement Documents.

Due Diligence: You are responsible for obtaining and reading the Property Agreement and Information Package relating to the property sold at this auction and any other information on the AuctionNow.bid website. You acknowledge that the sale is "as-is, where-is" with no warranties, and it is your sole responsibility to inspect the property and verify all information.

No Contingencies: You acknowledge and agree that the transaction completion following the auction's conclusion is not contingent upon any inspection or verification of any information. The Closing Date (as defined in the Purchase Agreement) will not be extended to permit any inspection or review concerning the purchase of the property. By registering to bid and bidding during this auction, you represent and warrant that you have conducted all necessary inspections or investigations and have determined to place a bid relying solely on your independent verification of material facts concerning the transaction and the suitability of the property for your intended use if you are the winning bidder.

Deposit Amount: 10% or more than $4,000 in guaranteed funds upon a winning bid.

Deposit Requirement: The winning bidder of Ohio Transactions must deliver the earnest deposit via Midland Title & Escrow, Ltd.’s online portal at Midland Title & Escrow Earnest Deposit. For Michigan Transactions, the deposit must be delivered to 3DX Real Estate’s online portal at 3DX Earnest Deposit via wire transfer or a cashier’s check made payable to the stated company.  The earnest deposit is due immediately following notification of the winning bid in the amount of 10% of the total purchase price or more than $4,000. The successful online bidder will be notified immediately following the auction's closing. The Purchaser must sign and return the purchase agreement as soon as possible and no later than 24 hours from the conclusion of an auction via electronic signature or in person. The balance will be paid in full at closing on or before 30+/- days. Please refer to the purchase agreement for a specific date.

Title Insurance: At the seller’s expense, a guaranteed certificate of title will be provided, giving marketable title subject to existing easements and restrictions. Midland Title & Escrow Ltd. will be the Ohio Closing Escrow Agent, and Bell Title Company will be the Michigan Closing Escrow Agent. The seller can choose the Title and Escrow Agent or Company.

Buyer’s Premium: A buyer’s premium ("Buyer’s Premium") in a percentage specified by the Realtor® and Auctioneer on AuctionNow.bid website for each specific property auction or in the Additional Terms and Conditions will be added to the successful bidder’s highest bid price. Any such Buyer’s Premium shall become part of the total purchase price in the Purchase Agreement and must be paid by the successful bidder. If the Buyer's Premium is not specified on the website for a specific property, the premium will be 10% or more than $4,000.

Purchase Agreement: If you are the winning bidder, you must sign a purchase and sale agreement and other required documents within 24 hours, as the Realtor® and Auctioneer specified. The terms of the Purchase Agreement are not open to negotiation and must be signed in the name of the highest bidder. The Purchase Agreement cannot be assigned to another person unless explicitly permitted in writing by the Seller or Realtor® and Auctioneer. The Purchase Agreement and other related documents will outline the specific terms and conditions of the auction sale, including the deadline for completing the property purchase. You can find copies of these documents on the AuctionNow.bid website or obtain them from the Realtor® and Auctioneer. It's your responsibility to acquire, review, and understand these documents before participating in the auction. The Seller's obligations to the winning bidder are outlined in the Purchase Agreement.  

Fair Housing: AuctionNow.bid is a technology platform licensed real estate brokers, agents, and sellers use to market properties and manage bids for those properties. We are committed to upholding the principles of the Fair Housing Act, which prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, because of race, color, religion, sex (including gender identity and sexual orientation), familial status, national origin, and disability. This information ensures that all potential bidders know their legal rights and responsibilities.

Fair Housing Website: https://www.hud.gov/program_offices/fair_housing_equal_opp

Bidding Time: The auction is timed, and bidding will start and end at specific times on the AuctionNow.bid website. All times are in Eastern Time, so remember to convert to local time when bidding on properties in other time zones. Check the AuctionNow.bid website for the scheduled bidding closing time. https://auctionnow.bid/

Extended Bidding Time: Please remember the following: The auction is set to start at the "Starting Date and Time" and end at the "Scheduled Ending Date and Time" as listed on the property page of the AuctionNow.bid website. However, an automatic extension feature will kick in if a bid is received just before the scheduled ending time. This feature will extend the ending time and keep the auction open for an additional period every time a subsequent bid is received.

Bidder Responsibility: Bidders are responsible for carefully entering their bids. Each bidder is accountable for all bids placed under their approved registration. Once a bid is entered and recorded online, it is considered final and cannot be modified, retracted, or rescinded in whole or in part.

Bidding Increments: Once bidding has started, any increases to a bid must be at least as significant as the ones we have determined. We reserve the right to change or adjust the required bid increments at any time during the auction.

Technical Issues: We have taken reasonable steps to enable online bidding for this auction. However, you acknowledge technical issues with hardware, software, internet connectivity, and human errors may occur. These issues may affect, among other things, the AuctionNow.bid website, our online bidding platform, program and process, your or our internet service and access, and your connection to this auction’s bidding program and process.

COMMUNICATION CONCENT-

BIDDERS EXPRESS WRITTEN CONSENT. WE VALUE YOUR PRIVACY AND SECURITY. BY SUBMITTING YOUR CONTACT INFORMATION, YOU ARE PROVIDING YOUR EXPRESS WRITTEN CONSENT TO RECEIVE COMMUNICATIONS FROM US AT THE EMAIL ADDRESS AND TELEPHONE NUMBERS YOU ENTERED INTO OUR CONTACT FORM OR THAT YOU LATER PROVIDE TO US OR ENTER INTO YOUR CONTACT PAGE. REST ASSURED, YOUR INFORMATION IS SAFE WITH US AND WILL ONLY BE USED FOR AUCTION-RELATED COMMUNICATIONS.

E-MAILS, CALLS, AND TEXTS. THESE COMMUNICATIONS MAY INCLUDE TELEMARKETING MESSAGES THROUGH THE USE OF EMAIL, LANDLINE PHONE, FAX, CELLULAR PHONE, AND TEXT MESSAGES (INCLUDING SMS AND MMS).

AUTODIALING. WE MAY USE AN AUTOMATIC TELEPHONE DIALING SYSTEM (OR “AUTO-DIALER”), WHICH MAY EMPLOY AN ARTIFICIAL OR PRE-RECORDED VOICE OR “ROBOTEXTS.” YOUR CARRIER’S STANDARD RATES AND CHARGES MAY APPLY.

NO PURCHASE NECESSARY. AGREEING TO THESE COMMUNICATIONS IS NOT A CONDITION OF PURCHASING ANY PROPERTY, GOODS, OR SERVICES FROM US.

OPTING OUT. YOU MAY REVOKE YOUR CONSENT TO RECEIVE COMMUNICATIONS AT ANY TIME BY REPLYING “STOP” TO ANY OF OUR TEXTS OR BY ANY OTHER REASONABLE MEANS. WE WILL MAKE A COMMERCIALLY REASONABLE EFFORT TO COMPLY WITH ANY COMMUNICATIONS FROM YOU OPTING OUT, BUT REPLY “STOP” WILL AUTOMATICALLY UNSUBSCRIBE YOU, AND WE RECOMMEND THAT METHOD. WE MAY TAKE 30 DAYS TO STOP COMMUNICATIONS IF YOU USE A METHOD OTHER THAN THE AUTOMATIC REPLY “STOP.” YOU CONSENT TO RECEIVE A FINAL TEXT MESSAGE CONFIRMING YOU OPT-OUT.

COMMUNICATION FREQUENCY. HOW OFTEN WE SEND YOU COMMUNICATIONS WILL VARY BECAUSE THE INDIVIDUAL SALESPERSON OR REALTOR WHO COMMUNICATES WITH YOU WILL DETERMINE IT.

YOUR CONSENT IS ALSO YOUR EXPRESS WRITTEN CONSENT TO YOUR PAST RECEIPT OF OUR ELECTRONIC COMMUNICATIONS.

You represent and warrant that:

  • You are at least 18 years old.
  • You live in the United States
  • You have not registered on a national or statewide Do Not Call list
  • You are the account holder for the email addresses and phone numbers you provided, or you have authorization from the account holder to give this consent.
  • The email addresses and phone numbers you provided are accurate, and you will let us know if you release them to another person or individual.
  • Our mobile service is available only in certain states. Certain mobile features may be incompatible with your carrier or mobile device. Contact your carrier with questions regarding these issues.