By Order of Secured Creditor:
COMMERCIAL REAL ESTATE – ONLINE AUCTION ONLY
Ending Wed., March 29, 2023 @ 4:00 PM
Location: 903 Lowell Street, Elyria, Ohio 44035
Formerly known as the Lowell Place Café, we are offering this 2304 sq. ft. commercial building located on the corner of Lowell St. and Rockfern Ave., Elyria, Ohio. This property has 140 ft. of frontage along Lowell St and 170 ft. of frontage along Rockfern Ave., improved with 36 ft. X 64 ft. single story commercial building last used as a restaurant.
Offering the real estate and remaining contents, commercial equipment and fixtures as one.
Online bidding only starts March 20 @ 9:00 am and ends Wed., March 29 @ 4:00 with 2 min. extended bidding.
Terms: $10,000 down within 24 hours of conclusion of auction, balance due at closing. 10% buyer’s premium added to final bid price to determine the final sale price. Real Estate and all contents offered “as is” with no warranties. Sale subject to the approval of the Lorain County Commons Pleas Court Case No. 21CV203940.
Taxes: Currently $811.78 per year, prorated via the local method. All taxes to be brought current at closing. Closing ASAP, 10 days upon delivery of clear title evidence to the buyer(s).
Inspection: Upon request of your buyer’s agent.
2% buyer’s agency offered to the agency with the winning, registered buyer.
WILSON AUCTION & REALTY CO.
825 N. Main St. Bryan, OH 43506 / 419-636-5500
Toll Free: 866-870-5500
Auctioneers/Realtors: Brent J. Wilson CAI, David A. Breitigam,
Bart Westfall, Bailey Breitigam, Ryan Ruble, Kevin Gray, Wayne M. Wilson CAI
ON-LINE BIDDING TERMS
Wilson Auction & Realty Co., Ltd. has put forth every effort in preparing for this auction to provide accurate descriptions of all items. THE REAL ESTATE IN THIS AUCTION IS SOLD “AS IS” “WHERE IS”. Wilson Auction and the sellers provide NO warranty or guarantee either expressed or implied in the description or nomenclature. The P available at this auction are sold to the highest bidder on an “AS IS - WHERE IS” and “WITH ALL FAULTS” basis. By placing a bid and/or purchasing the assets, the offeror acknowledges that he, or she, or an agent, have inspected all the assets upon which a bid has been placed. The seller expressly disclaims any warranty as to the fitness or usability of all the assets offered herein, and by placing a bid the offeror expressly waives any claim in respect to the possible future use of any asset purchased for any purpose whatsoever. We encourage buyers to avail themselves of the opportunity to make inspections prior to bidding. You, as a bidder, should determine for yourself the actual, proper description, count, and usability of the products. Wilson Auction reserves the right to group, reduce, add, or delete lots as well as advance, accept or reject any or all bids. All items are described in general, and all counts are approximate. The auction company reserves the right to refuse service to any person.
**Condition of online auction items** All high bids are considered legal binding contracts and all sales are final. The working condition of an item may not be known and may not always be listed in the item’s description. Sometimes we do know and list the condition of the items, but many times do not. No refunds will be given! Please note that if an item(s) is not paid for within 2 days and picked up within 10 days from the date of the auction, unless specified otherwise in the items description or in writing from the auctioneer, the item(s) and bidder will be in default, and the item(s) may be resold by the auctioneer. Any deficiency will become the expense of the high bidder who defaulted. This amount will be immediately due and payable upon the resale of that item. The auctioneer will notify the defaulted bidder of this amount, and take any legal collection actions, including charging the credit card on file, and/or the use of an attorney or collection agency for this deficiency.
Wilson Auction & Realty Co., and its auctioneers are licensed in the State of Ohio by the Dept. of Agriculture, 8995 E. Main St., Reynoldsburg, OH 43068
This auction is conducted in compliance with all auction laws of the State of Ohio.
10% BUYERS PREMIUM is added to final bid price to determine final sale price. For example: If the accepted bid is $100, 10% or $18 is added to make the final selling price of $110. Please adjust your bidding accordingly.
All accounts must be settled at the conclusion of the auction. We accept Visa, MasterCard & Discover ONLY. Your credit card will be charged for your purchases plus buyer's premiums and any taxes. A pre-auction authorization will be performed to establish available credit. Debit cards may show a hold on funds for a short period of time. NOTHING will be charged to your card until a purchase is made.
Wire Transfer (contact us for information) 419-636-5500 or Toll Free 866-870-5500
- Credit Card (Visa, MasterCard & Discover)
The purchaser agrees to pay all reasonable attorney fees and costs incurred by the auction company in the collection of funds. The purchaser also agrees that a fee of 2% per month be added to the balance of any unpaid balance due the auction company and any other costs or losses incurred by the purchaser's failure to adhere to these terms. Any debt collection or dispute proceedings will be heard in Williams County, Ohio.
Our on-line auctions move quickly! If you are interested in an item, bid quickly. If you win an item in the auction you will be notified by email. In order to have enough time to conduct authorizations, registration must be completed at least 24 hours in before the auction.
In order to better serve our customers, all bidders must provide their name, address, daytime phone number, and email address where they can be contacted. Bidder must call in 24 hours before bidding to give Wilson Auction a valid credit card to put on file. Wilson Auction will also try to call you to obtain this information when you register. It is the bidder’s responsibility to make sure Wilson Auction obtains this information prior to approving you as a bidder. This is to assure good communication between Wilson Auction & Realty Co., Ltd. and the bidder throughout any transactions.
It is strongly recommended that bids be placed early to avoid losing out due to an ill-timed, last minute bid. All times based on Eastern Standard Time. When a bid is placed on a lot within the last 120 seconds the ending time will automatically extend back to 2 minutes giving other bidders time to advance their bids.
The auction company shall not be held responsible for any "missed" bids or bids unseen by the auctioneer or software.
Automatic Bidding (max bid, auto bid, proxybid)
Automatic Bidding (auto bid) option makes bidding convenient allowing you to enter the maximum bid amount* that you are willing to bid on an item. Based on your Account Preferences for notification, you may be notified whenever your auto bid increases &/or when it is exceeded.
Your auto bid will not “jump” to the maximum amount. The auto bid will increment up only with competing bids until either the item completes with you as the high bidder, or until your auto bid has been exceeded by another bid.
If another bidder already has an auto bid in place when you place your auto bid, the (2) competing auto bids will continue to increment until either the lower auto bid is maxed out; or if both auto bid amounts are the same the auto bid that was placed first will become winning position of the bid.
*Buyer’s premium and sales tax will be in addition to the winning bid amount.
By bidding on any item, the bidder shows acceptance of the terms of the auction.