FARM AUCTION
7563 POTTER ROAD
TOWNSHIP OF THROOP NEW YORK
PROPERTY INFORMATION
PROPERTY TAX MAP ID #:
101.00-2-14.21
CURRENT PROPERTY TAX ASSESSMENT:
2020 Assessed Value: - $174,700
2020 Full Market Value Assessment: $189,891
SCHOOL DISTRICT:
Weedsport
ZONING:
Residential / Agricultural
IN AG DISTRICT:
Yes
SITE PROPERTY CLASS:
241 – Rual Res & Ag
HOUSE DETAILS:
House is being sold as is.
Building Style: 2 Story Farmhouse
Living Area: 2,084 Square Feet
Bedrooms: 3
Baths: 1
Year Built: 1888
Buildings on Site: 1 Garage and 2 Barns
Detached Garage: 20 x 24
Barn 1 Dairy: 38 x 60
Barn 2 Gen: 20 x 40
UTILITES:
Sewer Type:
Private Septic System
Water Supply:
Private Well
Fuel Type:
Oil
Utilities:
Electric
Heat Type:
Hot Air
Central Air:
No
ESTIMATED ANNUAL PROPERTY TAXES:
2019 Town & County Tax:
$3,081.60
2019 School Tax:
$3,986.46
LAND TYPES:
2 Parcels with Access to 2 different roads. Total combined road frontage = 2,405 feet.
58.80 Acres Tillable
20.00 Acres Wasteland
1.00 Acre Primary
Total Acreage: 79.80
AUCTION
Bidding Starts @ $ 176,400
AUCTIONS ENDS: May 27th 2021
All bids will be considered subject to the following Bidding Procedure and its Terms and Conditions shall be applicable to Bidders and to any bids they wish to submit:
1. The acceptance of any bid shall be conditioned upon the following:
A. Acceptance of Bid: After the close of auction Seller will decide if the Bidder is awarded the winning contract. The acceptance of any bid shall be conditioned upon the following signing by the Bidder and Seller of a written purchase contract of sale, including all required addenda and setting forth terms and conditions satisfactory to both parties. Therefore, the highest bid does not automatically award the bidder the winning contract to purchase. The Seller may select the winning bid based on the most favorable terms to Seller from each bidder’s offer, which may include the highest bid price, largest deposit amount, quickest payment method, and/or the least amount of contingencies. Seller specifically reserves the right to reject any and/or all bids.
B. Deposit Requirements: Bidding Deposit does not get collected unless the online bidder is awarded the contract to purchase. Bidders will then have 1 Business Day to submit a deposit to the auctioneer to be made part of the purchase price. Bidding deposit, in the amount of 10% of the Buyers Bid Price, shall be due at the time of purchase contract/bid submission, in the form of a check or wire transfer, to be made payable to and held by Michael DeRosa Exchange, LLC until the purchase contract is signed/accepted by Seller, at which time it shall become part of the Purchase Price and shall be deposited in an Escrow account at Manufacturers & Traders Trust Co. (M&T) bank or returned to Buyer if the purchase contract/bid is not accepted.
C. Proof of Bidders Ability to Purchase: Bidder shall provide a loan pre-approval letter, if obtaining financing, within 10 days following the selecting of the winning bid by Seller.
D. Verification of Available Funds: Bidder shall provide a letter or statement from Bidders financial institution, if paying cash, within 10 days following the selecting of the winning bid by Seller.
E. Due Diligence & Financing: Financing, Inspections and Attorney Review of Title and Purchase Contract conditions can be a condition in purchase contract for buyer, but must be acceptable to Seller.
F. Auction Buyer Premium: A Buyer’s Premium equal to 10% of the acceptable bid price will be applied to the winning bidders bid and shall become due and payable upon acceptance of bid and made part of the Purchase Price. The Buyer’s Premium will be added to the bid in the Purchase Contract to determine the Total Purchase Price. For Example: Bid Price $100 +10% Buyer Premium =Total Purchase Price $110
G. Opening Bid: The opening bid for this property is $176,400. The Opening Bid is not the Reserve Price. The system will counter you until you meet the unpublished reserve. If the Reserve Price is not met, Seller is under no obligation to sell the Property; however, Seller may accept a bid that is below the Reserve Price in its sole and absolute discretion.
H. Bid Deadline / Close of Bidding: Thursday, May 27th @ 7pm EST. The Auctioneer must receive your bid on or before the close of bidding.
I. Placing Bids: All bids must be submitted online to auctioneer through its worldwide internet bidding portal. There will be no physical bidding on-site at the property. All bids will be presented to Seller by the Auctioneer.
2. Bidding Terms & Conditions:
I. Seller shall have sole and absolute discretion to accept or reject any bids received, prior to or after the bid deadline and reserves the right to extend bid deadline. Seller is not required to accept any particular bid, regardless of its terms, and has the absolute right and discretion to reject all bids.
II. After receipt of bids, Seller shall have the absolute right to conduct negotiations through Auctioneer to deal with one or more Bidders, to further negotiate the terms and conditions of any bid. In so doing, Seller shall have no obligations to negotiate, communicate or counter with each and every other Bidder, or with any Bidder.
III. Under no circumstances shall any verbal communications between a Bidder and Seller and/or any Agent or Broker constitute or create an obligation on the part of the Seller to sell any property to anyone under any terms.
IV. All bids must be in writing; no verbal bids will be presented or accepted. The acceptance of any bid shall be conditioned upon the following signing by the Bidder and Seller of a written purchase contract of sale, including all required addenda and setting forth terms and conditions satisfactory to both parties.
V. The Designated Escrow Agent and Bank for the Bidding Deposit is as follows: Bidders Deposit shall be made payable to: Michael DeRosa Exchange, LLC (Escrow Agent) / Manufacturers & Traders Trust Co. (Bank).
VI. In the event an accepted bid does not result in a closed transaction, or Seller rejects bids, Seller reserves the right to re-open negotiations with any Bidder and Seller may request Auctioneer to re-open bidding to solicit new bids.
3. By placing a bid, you acknowledge your understanding and acceptance of all of the above procedures and terms & conditions.
