Erie County Real Estate 11.11.24

- Sold As Is - Subject to County Approval

See Lot #1A for Bidder Package in order to register. See Lot Descriptions for Details pertaining to each property.

THESE PREMISES ARE OFFERED at public auction upon the following terms and conditions.

1. The Purchase Price will be the combined sum of the Hammer Price (winning bid) plus a Buyer’s Premium of six percent (6%) (in other words, if the winning bid is $1,000, the purchase price will be $1,060). A reduced buyer’s premium is offered if the deposit is paid by Cash or Certified Check rather than by Card.

2. The successful bidder (Purchaser) will be required to pay an earnest deposit of sixteen percent (16%) of the Hammer Price which will be held in Monahan Real Estate & Development, L.L.C. Escrow Account at Citizens Bank in Buffalo, New York. The deposit is nonrefundable if buyer defaults and is to be paid within 24 hours of approval to the offices of Monahan Real Estate & Development, LLC:

1. 1. If paying by Card, the buyer will be invoiced electronically.
   2. If paying by Cash or Certified Check, the Buyer’s Premium will be reduced to five and a half percent (5.5%) resulting in a total deposit of fifteen and a half percent (15.5%).

3. The balance of the Purchase Price is to be paid in cash, certified funds or by wire transfer at Closing on January 10th, 2025 or such other time and place to be agreed upon between the purchaser and seller. If the purchaser is not ready to close title on or before January 10th, 2025 any adjournment granted by the seller at the request of the purchaser shall be only upon the provision that all adjustments shall be as of January 10th, 2025.

4. The terms of this sale require cash at Closing. The contract is not subject to any conditions of financing or other contingencies. In the event purchaser arranges financing, purchaser must secure financing in advance and arrange to satisfy any lender requirements prior to the Closing at purchaser’s expense. Prior to closing, Purchaser will have to establish access to parcel(s) from a public right of way, or land under their control, otherwise deposit will be forfeited, and property will be offered to next highest bidder.

5. This property is sold in its present “AS IS” condition, with all faults in all respects. No warranties or representations, express or implied, as to the value, physical condition, habitability, tenancies, use for a particular purpose or compliance with any environmental statutes, rules, regulations, or any building and/or zoning laws, codes or ordinances, including those relating to water supplies, septic systems or lead based paint are made by either the Seller or Auctioneer unless specifically stated herein. The Purchaser acknowledges that the property is sold in “AS IS” condition with all of the above exclusions and that the Purchaser’s obligation to consummate the sale is not contingent upon any right of inspection or other due diligence. Costs and responsibility for curing deficiencies, obtaining any permits, variances, or certificates, if any, is the exclusive obligation of the Purchaser. The property is sold subject to all utility and any other easements, restrictions, and rights of way, as well as all applicable zoning ordinances.

6. Rentals, mortgage interest, taxes, insurance premiums, water and sewer charges and any other matters appropriate for prorating and adjustment shall be prorated between the Seller and the Purchaser as of the closing date or January 10th, 2025 whichever shall first occur. Any installments for assessments for local improvements not due and payable at the time of closing shall be paid for by the Purchaser as they thereafter become due.

7. No Abstract of Title will be provided. At the time of closing, the Seller shall tender to the Purchaser Deed to said Premises, free and clear of all liens and encumbrances except as otherwise provided herein. Purchaser shall pay the cost of any New York State Transfer Taxes to be affixed to the deed. Should the Purchaser require a survey for any reason, the Purchaser shall bear the cost of the survey. The Seller will provide any existing survey that it has in its possession.

8. The existence of any liens, unpaid taxes or assessments shall not be deemed an objection to title provided an amount sufficient to discharge same is allowed the Purchaser at the time of closing, or in the alternative, discharged and paid by the Seller at the time of closing.

9. In the event that the Purchaser shall raise any bona fide objections to the Seller’s title, which, if valid, would render the title unmarketable, the Seller shall have the right to cancel this agreement by giving written notice of such cancellation to the Purchaser, and shall repay to the Purchaser the deposit made hereunder, whereupon all liability by reason of the agreement shall cease, provided however, that if the Seller shall be able, within a reasonable length of time, to cure the objection, or if thereafter either party secures a commitment for title insurance containing standard exceptions only, the Seller shall pay the cost thereof and in such event this contract shall remain and continue in full force and effect. 

10. Any statements made in sales brochures or advertising relating to this Property are not to be considered as a part of these terms and conditions of sale.

11. The Purchaser will be required to sign a written acknowledgment of the Purchaser’s bid and these Terms of Sale, WHICH, WHEN SIGNED, SHALL CONSTITUTE A BINDING AND ENFORCEABLE CONTRACT. WE RECOMMEND THAT THE PURCHASER CONSULT AN ATTORNEY BEFORE BIDDING SINCE NO CHANGES OR CONTINGENCIES TO THIS CONTRACT WILL BE ACCEPTED. The Purchaser must review the Terms of Sale with their attorney PRIOR to bidding to obtain their written approval or shall otherwise be deemed to have elected to waive attorney approval.

12. Any and all risks of damage or loss to the Property from the date of sale until closing are the responsibility of the Purchaser. The Seller may elect to enforce performance of this contract by agreeing to assign any insurance claims or proceeds arising after this date to Purchaser at the time of closing. The Purchaser agrees to accept the property in an “as is” condition, and subject to tenants’ rights, if any. Notwithstanding, in the event that the Property suffers any substantial casualty loss prior to closing, the Seller at its sole option may elect to cancel this Agreement and refund the deposit to the Purchaser, provided that the Seller within five days of the loss gives written notice to the Purchaser of its election to cancel this agreement.

13. The Seller, through its agent, the Auctioneer, at their option, may recall the Property if the successful bidder fails to comply with these Terms of Sale, and the person or persons failing to comply shall forfeit any deposits made on account hereof, and may be held liable for any deficiency resulting from a subsequent resale, or in the alternative, the Seller may retain the deposit as liquidated damages.

14. The Seller, through the Auctioneer, reserves the absolute and unconditional right to reject any or all bids within 72 hours, Sundays and holiday excluded. Notice of approval or rejection will be given via phone call within one to four business days.

Final Bid Subject to Approval

By bidding with our auction company, you are agreeing to the following:

Bidders will need to complete and turn in a Bidder Package in order to register for the auction. This property will be sold subject to acceptance of the final bid. The Purchase Price will be the combined sum of the winning bid plus a buyer’s premium of six percent (6%) (in other words, if the winning bid is $100,000, the purchase price will be $106,000). The successful bidder will be required to pay a non-refundable deposit of ten percent (10%) of the Hammer Price (final bid) plus the six percent (6%) buyers premium, for a total deposit of sixteen percent (16%) due within 24 hours of approval. Monies will be held in Monahan Real Estate & Development, L.L.C.  Escrow Account at Citizens Bank in Buffalo, New York. A reduced buyer's premium of five and a half percent (5.5%) will be charged if paying by cash or certified check, resulting in a total deposit of fifteen and a half percent (15.5%). The balance, in certified funds, will be due at closing, made payable to Erie County. Closing will take place approximately 30 days from the end of the auction and is NOT contingent on the buyer's ability to secure funds. Cash Auctions by Monahan Real Estate & Development, LLC is acting as exclusive agent for the seller. 

1. All sales are final. Everything is sold "AS IS" with no guarantees unless otherwise stated by the auctioneer. It is the responsibility of the bidder to assure him or herself as to the condition prior to bidding. IF there is an open house, please see the details section for date & time.  Condition reports given by the staff of Cash Auctions by Monahan Real Estate & Development, LLC are subjective, and while we strive to be honest, we will not be held responsible or liable for any errors in description. Buyer is responsible for examining items before bidding. Auction company does not take responsibility for buyer's failure to examine. Merchandise is not subject to adjustments once the item has been sold.
2. Payment is due in full within the time limits posted in the auction. Personal checks are NOT accepted for this auction.  For the deposit, card, cash or certified check will be accepted. 
3. By bidding with our auction you are entering into a contract with our terms and conditions. You are accepting responsibility to perform your duties as winning bidder, and agreeing that Cash Auctions by Monahan Real Estate & Development, LLC, its employees, officers, owners, representatives, agents, and consignors will not be held liable for any losses, claims, liabilities, judgments, expenses, fees, or other damages arising from the use of our services, website, auction property, and this site, including property damage, injuries, dispute with another bidder, or breach by bidder of this site. Any liability to a purchaser will not exceed the purchase price actually paid.
4. Cash Auctions by Monahan Real Estate & Development, LLC will not be held responsible for any interruption in internet service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted or error free service or use of the Site. By bidding with our company you are accepting that this auction is conducted electronically and relies on hardware and software that may malfunction without warning.
5. Cash Auctions by Monahan Real Estate & Development, LLC has the right to void any sale, suspend bidding, re-sell any item/lots for any reason.
6. Bids cannot be retracted once the auction begins.
7. The Auction will be subject to the relevant parts of our Standard Terms found on our website (https://www.cashauction.com/policy-terms). The Terms stated above are for the Online Auction itself; the sale will also be subject to a more thorough and complete Terms of Sale (Contract) that can be found in Lot #1 and within the Bidding Package (Lot #1A).
8. Prior to closing successful bidder will have to establish access to parcel from a public right of way, or land under their control, otherwise deposit will be forfeited, and property will be offered to next highest bidder.

In the event of legal proceedings arising from this contract or from the auction in connection therewith, buyer consents to being subject to the personal jurisdiction of the courts of the State of New York, Erie County.