Real Estate ONLINE AUCTION TERMS AND CONDITIONS OF SALE



PROPERTY DETAILS:

- Address: 1334 Maplewood Drive Piqua, Ohio 45356
- Parcel No.: N44-062510
- Sale Date: Bidding will open Monday, November 10th. at 9:00 a.m. and begin closing on Tuesday, November 11th. with extended bidding. 
- Buyers' Premium: 10% or $5,000 (whichever is greater)

- Deposit: $5,000.00

- Closing Date: On or before December 21st. 2025


BIDDING PROCESS



1. Due Diligence Required: Bidders must complete all due diligence (home inspections, appraisals, etc.) before the end of the online bidding. The Sales Contract (Memorandum of Auction Sale Agreement) contains no contingencies. This property is sold AS IS, WHERE IS, and is not subject to any financing. Please view the Sample Memorandum of Auction Sale Agreement in the documents section of the information page for any additional or auction-specific Terms.

2. Deposit and Contract Requirements: The winning bidder must execute the Memorandum of Auction Sales Agreement within 24 hours of notification of bid acceptance with an electronic signature via DocuSign. A deposit of $5,000.00 shall be made payable to Gay Smith and Associates. Deposit shall be in the form of a certified, personal, or business check. Upon successful closing of the property, this deposit shall be returned to the purchaser. If the purchaser fails to perform according to the stated terms, this deposit shall be forfeited to the seller and the auction sale terminated. Furthermore, the defaulting bidder may still be liable under Ohio Law for damages to the Seller.

3. Outbid Notification: If another bidder outbids you, you will receive an email notice so you can return and increase your bid if you so desire.

4. **Open Bidding Format**: The bidding will be open, and everyone can access the bid history during the auction.

5. **Auto-Extend Feature**: As the auction nears the end, it will auto-extend until bidding is silent for 3 minutes.

6. **Tying Bids**: If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.

7. **Winning Bid Notification**: The high bidder will be notified via email or phone within 2 hours after the auction ends of acceptance of the high bid.

## PROPERTY INSPECTION AND CONDITION

8. **Property Inspection**: Bidders are strongly advised to physically inspect the property prior to bidding. Property showings can be arranged by contacting the auctioneer at the number provided in the listing. Virtual tours may be available for certain properties.

9. **Lead Paint Disclosure**: If a residential structure was built before 1978 on the property, the winning bidder will sign a Lead Paint Hazard Disclosure Statement (available in the documents section of the website) and waive the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based hazards inspection under Federal and Ohio law.

10. **Property Disclosure**: The winning bidder will sign the Ohio Residential Property Disclosure or Estate Exempt Disclosure if applicable.

11. **AS-IS Condition**: The property will be auctioned in an "AS-IS, WHERE-IS" condition as of the date and time of sale. Vondenhuevel Auctioneers LLC, Gay Smith/Associates Realty, nor the seller(s), their agents, employees, or representatives make any expressed or implied warranties of any kind concerning the property and this sale. Any remaining personal property left on the premises after closing shall become the property of the new owner, and the seller shall have no responsibility or liability for any items left behind.

12. **Information Disclaimer**: The information listed in materials describing the property is obtained from sources that are deemed reliable, but not guaranteed. It is the bidder's responsibility to verify all property information prior to placing any bids. The decision to purchase or not purchase the property is each bidder's sole and independent business decision. Auctioneer assumes no responsibility for the condition of the property or the performance of this Contract by any parties. Purchaser hereby warrants and represents that Auctioneer has not made any statements, representations, or warranties regarding the condition of the premises, zoning conditions, governmental requirements, or environmental matters, guarantees, or warranties of the like, upon which Purchaser has relied and which are not contained in the Contract. Vondenhuevel Auctioneers LLC shall not be responsible or liable in any way if the owner fails to honor the bid, refuses to settle, or cannot close in accordance with the Sales Contract.

## AUCTION TERMS

13. **Auctioneer Rights**: Vondenhuevel Auctioneers reserves the right to withdraw any property from sale and may cancel any auction sale prior to the start of bidding.

14. **Bidding Increments**: Bidding increments are made in amounts acceptable to the Auctioneer, who may set a minimum bidding increment as the sale progresses. Any bid may be rejected by the Auctioneer if it is merely nominal or, at his or her discretion, it may negatively affect the auction process. Auctions will be either Absolute or Reserve. If this is an Absolute Sale, the high bidder shall be the Purchaser. If this is a Reserve sale, the seller may accept or reject the high bid; however, if the bid exceeds the predetermined Reserve Price, the auction will become an Absolute auction and will be sold to the high bidder.

15. **Dispute Resolution**: In the event of a dispute between bidders, the Auctioneer in its discretion may determine the successful bidder or re-offer the property for sale.

16. **Buyer's Premium**: A Buyer's Premium in the amount of 10% of the final bid price or $5,000.00, whichever is greater, will be added to the high bid and will be due from the winning bidder. The Buyer's Premium is in addition to the winning bid. When added together with the winning bid, this figure represents the Final Contract Purchase Price to be paid by the purchaser at settlement.

## SETTLEMENT AND CLOSING

17. **Closing Timeline**: Settlement is to occur within Forty (40) calendar days of the auction sale date. The purchaser should secure any necessary financing.

18. **Jurisdiction**: By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders shall be deemed to have consented to the jurisdiction of the State and Federal courts of the State of Ohio.

19. **Closing Costs**: The purchaser is responsible for the cost of all documentary stamps, transfer taxes, title insurance, recording fees, and other costs incident to settlement.

20. **Phone Bidding**: Vondenhuevel Auctioneers LLC may accept telephone bids from registered bidders. Phone bids will be placed online under "Phone Bidder".

## BUYER BROKER PARTICIPATION TERMS FOR REAL ESTATE AGENTS

A commission of 2.0% will be paid to the licensed real estate Agent/Broker who meets the terms below and whose registered buyer pays for and settles on the property for which he/she was registered. All commissions are to be paid at settlement.

### TO QUALIFY TO RECEIVE A COMMISSION, THE REALTOR/BROKER MUST:

- Register his/her prospective client for specific property or properties, before any inspection of the property by his/her client

- The Realtor/Broker must register his/her client using our Broker Registration form located in the documents section of the website

### RULES REGARDING BUYER REGISTRATION:
1. The Agent/Broker must register his/her prospective client for specific property or properties before any inspection by his/her client. The Realtor/Broker must register his/her client using our Broker Registration form. It is the Realtor/Broker's responsibility to ensure the Broker Registration is received.

2. No broker will be recognized on a prospect who has previously contacted Vondenhuevel Auctioneers LLC or has been previously contacted by Vondenhuevel Auctioneers LLC.

3. The Agent/Broker must assist his/her client in bidding online for each desired property.

4. The Agent/Broker must work with the buyer throughout the escrow/closing process.

5. Broker agrees that Broker will not be entitled to a commission if:

- The broker or any member of the broker's family or firm participates as a principal at the auction
- The settlement does not occur within the specified settlement timeframe
- The person that he/she is representing does not settle on the property

6. There shall be no exceptions to this procedure, and verbal agreements will not be accepted.

7. Commissions will be paid only upon closing.
By participating in this auction, bidders acknowledge they have read and fully understand these terms and conditions and agree to be bound by them.



For questions or additional information, please contact Vondenhuevel Auctioneers LLC at 937-492-1078.

Real Estate Auction - 1334 Maplewood Drive, Piqua, Ohio

Be Home for the Holidays - Incredible 5-Car Garage!

This is your opportunity to own a spacious home in Piqua's desirable Maplewood subdivision - a well-established neighborhood with quiet streets and convenient access to everything you need. This 3 bedroom, 2 bath home offers 1,497 square feet of living space in move-in condition on a generous half-acre lot (108' x 191') with large, usable front and back yards. The location is exceptional with quick access to State Route 185 and U.S. Route 36, putting you minutes from Piqua schools, shopping, and dining.

The standout feature of this property is the EXTRAORDINARY 1,275 square feet of attached garage space - that's room for FIVE CARS! The original 2-car garage (575 sq ft) was expanded with a massive 35' x 20' addition (700 sq ft), creating opportunities far beyond vehicle storage. Perfect for car enthusiasts, hobbyists, woodworkers, auto restoration, home-based businesses, or any passion project requiring substantial workspace. Built in 1958, this property offers an updated furnace, central air conditioning, and all mechanical systems are operational. The home features generous room sizes including a spacious 23' x 14' living room and a 17' x 15' family/dining room with cozy fireplace - imagine opening presents here Christmas morning! The galley kitchen provides abundant cabinet space and comes complete with ALL stainless steel appliances included in the sale. As a special bonus, a beautiful baby grand piano also conveys with the property.

The full unfinished basement offers tremendous potential for additional living space, recreation room, home theater, or workshop - transforming this into a 3,000+ square foot home. The large half-acre lot provides excellent outdoor space with both front and back yards offering room for gardens, play equipment, or entertaining. Additional features include a back patio and storage shed for lawn equipment. With the online auction format closing on November 11th and a 40-day closing timeline, you could absolutely be settled in your new home before Christmas. This property offers solid bones and excellent potential - perfect for buyers with vision who want to add their personal touch while building instant equity.

Property Details:

• 1,497 Square Feet
• 3 Bedrooms, 2 Full Baths
• Vinyl Siding
• Half-Acre Lot (108' x 191')
• MASSIVE 1,275 Sq Ft Attached Garage (5 Cars!)
  • Original 2-Car Garage: 575 sq ft
  • Addition: 35' x 20' (700 sq ft)
• Full Unfinished Basement
• Back Patio & Storage Shed
• Updated Furnace
• Central Air Conditioning
• Fireplace in Family/Dining Room
• All Stainless Steel Appliances Included
• Baby Grand Piano Included
• Move-In Ready - Could Use Updating & TLC
• Built: 1958

Room Dimensions:

• Living Room: 23' x 14'
• Family/Dining Room: 17' x 15'
• Galley Kitchen: 17' x 8' (with abundant cabinet space)
• Master Bedroom: 12' x 15'
• Bedroom 2: 12' x 12'
• Bedroom 3: 12' x 9'

Auction Information:

• Opening Bid: ONLY $150,000
• Bidding Opens: Monday, November 10th at 9:00 A.M.
• Auction Date: Tuesday, November 11th at 2:00 P.M.
• Online Bidding Only
• 10% Buyer's Premium
• $5,000 Earnest Money Due Upon Acceptance of Offer
• 40-Day Closing

Open House Date:

• Wednesday, November 5th, 4:00 - 6:00 P.M.
• Additional showings by appointment

Location Highlights:

• Piqua City Schools
• Quiet, Well-Established Maplewood Subdivision
• Quick Access to State Route 185
• Quick Access to U.S. Route 36
• Close to Schools, Shopping & Dining
• Large Usable Front & Back Yards
• Half-Acre Lot

Don't miss this rare opportunity to bid your price on a home with incredible garage space and be settled before Christmas! Contact us to schedule a showing or attend our open house on November 5th.