Online Auction Start Time: Wednesday, April 10, 2024 – 9:00 am
Online Auction Real Estate End Time: Wednesday, April 17, 2024 – 2:00 pm
** The close of bidding is a “soft close/ automatically extended.” If a bid is received during the last two minutes of bidding, it will automatically be extended an additional two minutes.

How do I bid on this Property: To bid on this property, go to www.Steffengrp.com and click on the FWCS 6006 Ardmore Avenue Auction. You can access the bidding portal through this page.

Qualification of Registered Bidder: Prior to being approved as a registered Bidder ("Bidder may also be referred to interchangeably with "Buyer") for the Auction. The following will be required from all potential Bidders
1. A bank letter of Credit that is satisfactory to the Auctioneer showing that the Bidder has financial fitness and adequate bank preapproval to close on the Real Estate within thirty (30) days of the conclusion of the Auction.
2. Pursuant to IC-36-1-11-16, certain persons and entities who have been delinquent in the payment of real estate taxes may not bid on the Real Estate. The Auctioneer shall require the Buyer to attest that they do not owe any delinquent taxes, special assessments, penalties, interest, or costs directly attributable to a prior tax sale on a tract of real property listed under IC 6-1.1-24-1 and all applicable provisions under IC 6-1.24.1 Additionally, pursuant to IC 36-1-11-4(h), a trust as a potential bidder must identify to the Auctioneer each beneficiary of the trust as well as the settlor, to ascertain such persons are not ineligible to bid under IC 36-1-11-16.

PLEASE READ AND REVIEW THE REAL ESTATE TERMS THOROUGHLY PRIOR TO BIDDING ON THIS PROPERTY

UPON CONCLUSION OF THE AUCTION: The Winning Bidder will be emailed a Real Estate Contract to either sign digitally or to print and sign without any modifications and return the completed and signed contract to The Steffen Group Inc. by email, fax or in person by 5:00 PM the day of the auction. Along with the completed, signed contract, the winning bidder will be required to send the non-refundable earnest money deposit in the amount of ten percent (10%) of the bid price as stated in the terms and conditions. The earnest money deposit will be held in escrow until closing, and that amount will then be credited to the Buyer at closing.
A successful bidder not executing and returning the completed contract and earnest money deposit by 5:00 PM the day of the auction will be considered in default. Such default by the Successful Bidder will result in the Bidder’s liability to both the Seller and The Steffen Group, Inc. Seller shall have the right to (a) declare this contractual agreement canceled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with The Steffen Group Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and The Steffen Group Inc. In addition, The Steffen Group Inc. also reserves the right to recover any damages separately from the breach of the Buyer.
Method of Payment and Closing: A non-refundable earnest money deposit in the amount of 10% of the purchase price will be required on the day of sale, with the balance due the day of closing. The closing shall occur within 30 days after the execution of the purchase agreement at a title company selected by the Seller. This real estate is being sold for cash, and your bidding is not contingent upon financing. Have your financing prearranged before auction day. BIDDERS WILL BE REQUIRED TO PROVIDE THE AUCTION COMPANY WITH PROOF OF FINANCIAL ABILITY TO CLOSE THE TRANSACTION WITHIN 30 DAYS OF THE AUCTION. The closing fee charged by the Title Company to conduct and facilitate the insured closing shall be split 50:50 between the Buyer and Seller.
Buyer's Premium: In order to determine the final sales price of the real estate, a 1% buyer's premium will be added to the winning bid. Thus, determining the final purchase price of the real estate.
Acceptance of Bid: The property is selling with reserve which shall be set by and subject to the confirmation and approval of the Fort Wayne Community School Board of Trustees, which may reject any and all offers.
Title: Seller will provide the buyer with an owner's policy of title insurance in the amount of the purchase price, insuring the Buyer of a clear and marketable title to the Real Estate. The seller will convey title to the property by warranty deed.
Taxes: There shall be no tax credit given to the Buyer at closing as this Real Estate is owned by a non-taxable entity (school corporation).
Possession: Possession will be given to the Buyer on the day of final closing.
Property Condition Reports: Seller's environmental reports, title commitment, and surveys of the Real Estate will be available to bidders for review prior to the Auction but shall not be considered a warranty of any condition of the Real Estate, nor shall the provision of these documents alter the "As-Is" and "Where-Is" nature of this transaction. Any other reports or surveys that a Buyer may wish to obtain are at the Buyer's sole cost and expense and shall not delay or be a condition to closing.