BIDDER REGISTRATION FOR JUNE 28 LAND AUCTION
Click here to view the bidder registration form. The form will also be available at the auction.
If you are planning to bid in the name of a corporation, business, or LLC, you must have the appropriate official documentation to show proof of eligibility to bid on behalf of that corporation, business, or LLC.
In the event a person is bidding on behalf of another party, an original notarized Power of Attorney must be presented at the time of registration. Power of Attorney must include the buying party's social security number and appropriate language for having the authority to bid/purchase real estate.
OTHER TERMS OF AUCTION
- Inspection of Property-The property is almost completely wooded. The property
is parcel 481270001000 on the Mahoning County Auditor's website.
The property has 400 feet of frontage on South Canfield-Niles Road and a depth of 2300 feet. Property is
zoned Residential R-1 for the first 150 feet in depth and the remaining easterly 2,150 feet are zoned as
an Agricultural-A-SER District.
City of Youngstown waterline runs past property all the way to Canfield. The County Auditor's website shows sanitary line crossing under State Route 46 about 600 feet north of New Road.
For information on Oil & Gas Lease that the School District entered into in 1977 see the following documents at: Volume 185 Pages 743-745, Volume 187 Pages 407-408 and Volume 1010, Pages 115-120 of Mahoning County Records.
More information on this property is also available on the township's website at austintowntwp.com.
- The bidder understands and agrees that the property is offered, purchased and accepted by the buyer "AS IS" and "WITH ALL FAULTS". The Township and its agent make no warranties or guarantees whatsoever whether written, oral, or implied as to quality, condition or habitability.
- If the high bid does not exceed the Township's reserve price, and the Township does not waive or lower the minimum reserve price, the auctioneer will close the bidding. The bidder who placed the bid accepted by the Township is legally bound to pay for property awarded to him/her in accordance with the successful bid. Payment of the full purchase price must be made within 30 days. Once the auctioneer accepts a bid, a contract is established and that successful bidder may not withdraw the bid. The auctioneer will not accept unilateral conditions asserted by any bidder. Once the Township accepts a bid, a final written sales contract will be prepared to include the individual information of the high bidder along with the accepted bid amount.
- Consideration of Bids
The Township reserves the right to reject any or all bids, and to waive any technical defects in bids. Property is sold with a minimum reserve price. If the minimum reserve price is not achieved, the Township may withdraw the property at any time before the sales contract is executed.
- Form of Payment
Cash, Cashier's or Certified checks made payable to the Austintown Township Trustees is the only form of payment accepted FOR THE EARNEST MONEY DEPOSIT OF $2,500. Forms of payment that are not accepted include: Personal or business checks, money orders, bank letters, or letters of credit.
- Financing & Evidence of Ability to Close
This is a cash sale. The buyer is responsible for obtaining his or her own financing arrangements as required. The Township does not provide financing for the purchase of any property offered under these terms and conditions.
Failure to obtain financing during the closing process does not relieve the buyer of his/her legal responsibility and obligation for completion of the contract. Failure to comply with all provisions of the sales contract regarding closing may result in termination of the contract because of buyer's default and may result in the forfeiture of any earnest/deposit funds.
Bidders shall present financial document(s) with their registration evidence that the bidder has the ability to close within 30 days through any combination of cash and/or loans. In the event Bidder is obtaining a mortgage or other Loan(s) from an institutional lender, Bidder shall provide the Township with a copy of the loan commitment for each such Loan which states the type, amount and terms of the Loan(s) for which Bidder has been approved. Other evidence can include, but is not limited to, includes a bank statement, open equity line of credit, money market account balance or certified financial statement.
Other information available:
Click for a Google Map overview of the property
Click here to view the property Quit Claim Deed
Click here to view the Oil and Gas Lease Information
Click here to view the June 2013 Wetlands Study
Click here to view the August 2006 Wetlands Study