TERMS:

(Buyer) agrees to immediately enter into the provided Real Estate Auction Purchase Contract approved by the Seller, when I am declared the high bidder (winning bidder) upon completion of the following auction:

• 2 (combined) vacant land tracts consisting of commercial & residential development land, and a dry detention basin, commonly known as: 7701 Tauromee Ave, Kansas City, KS, 66112, and 505 N 78th St, Kansas City, KS, 66112.

Legally described as: 

(25.72+/- acres) Commencing at the Northwest corner of the Southwest Quarter of Section 9, Township 11, Range 24, in Wyandotte County, Kansas; thence East 60 poles; thence South 40 poles; thence East 20 poles; thence South 40 poles; thence West 80 poles; thence North 80 poles to the point of beginning, less those parts in Southeast and Southwest corners taken for turnpike in Case No. 93021-A in the District Court of Wyandotte County, Kansas, and less that part on the West and North taken or used for road purposes.

(0.74+/- acres) Beginning at the northeast corner of the northwest quarter of the southwest quarter of Section 9, Township 11, Range 24, Wyandotte County, Kansas, thence west 20 poles, thence south 40 poles, thence east 20 poles, thence north 40 poles to the point of beginning, except that part on the north taken or used for public road purposes.

(Full Legal Description to be provided by Title Company)

Online Bidding Date/Time:

• Online Bidding Opens on Saturday, April 26th, 2025 at 6:00pm (CT)
• Online Bidding Closes on Saturday, May 24th, 2025 at 6:00pm (CT)

By signing below, I agree that I have read and fully understand the Online Auction Bidders Agreement and the Terms and Conditions for this auction. 

I understand and agree that an Online Auction Bidders Agreement MUST be signed and returned to United Country| Heritage Brokers & Auctioneers, prior to being allowed to bid in the Online Auction.  As a bidder, it is solely my responsibility to contact the auction company at (877) 318-0438 with any questions regarding the auction, purchase agreement, or terms & conditions, prior to placing any bids in said auction.  

Online Auction Terms & Conditions

1. Absolute Auction: This property will be sold to the highest bidder. 

2. Bidding Registration: Online bidder hereby agrees that they must be properly registered for the online auction by completing and signing the (Online Auction Bidders Agreement), which will be sent by email via DocuSign. Upon completing this registration form and receiving approval, bidding privileges will be turned on. If you need assistance with registration, you may contact Lucinda Terrel at (816) 420-6257 or by email at lucinda@buyheritage.com. Seller(s) may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.

3. Bidding Opens/Closes: The Online Only Auction (i.e. Internet Auction) bidding shall be opened and begin closing on the dates and times stated above, subject to the soft close feature as outlined below.    

4. Property Preview Dates: It is highly recommended that all bidders personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders and can be conducted at any time. 

5. Buyer’s Premium: A Ten Percent (10%) Buyer’s Premium shall be added to the final bid price place online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer’s Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property.  Example: (winning bid $100,000 + 10% buyer’s premium = total purchase price of $110,000). 

6. Cash Offer/No Financing Contingency: By participating in this auction, bidder hereby agrees that their bid shall NOT be subject to the bidder’s ability to obtain financing. By placing a bid in this auction, bidders are making a “cash offer” to purchase the property. Financing is NOT a contingency in the purchase agreement. All purchases are in U.S Funds only.

7. Purchase Contract: Winning bidder hereby agrees to enter into the provided Real Estate Auction Purchase Contract in its current form and which has been approved by the Seller, immediately upon being declared the Successful Bidder by the Auctioneer.  Upon the close of the auction the winning bidder will be forwarded via email an Auction Real Estate Sales Contract to purchase the property. A signed copy of the Auction Real Estate Sales Contract must be executed and received by United Country | Heritage Brokers & Auctioneers no later than 24 hours from the time said Sales Contract was sent to the winning bidder. The Auction Real Estate Sales Contract may be e-signed, hand delivered or scanned and emailed. A sample of the Auction Real Estate Sales Contract is made available to all bidders for review prior to placing any bids in the auction.    

8. Down Payment: A Ten Percent (10%) non-refundable down payment based on the total contract purchase price (which includes the buyer’s premium) will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below.  The balance of the purchase price will be due in full at closing. 

9. Closing: Closing shall be on or by Friday, June 20th, 2025. Closing shall take place at First American Title Insurance Company, 1100 Main St. Suite 1900, Kansas City, MO 64105. The title closer is Stephanie J. Quisenberry, email is squisenberry@firstam.com phone number is (816) 410-7911. Out of state buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds.

10. Easements: The sale of the property is subject to any and all easements of record.  Easements are outlined in the title insurance commitment and are available as a public record.   

11. Minerals: The seller’s share of minerals (if any) will transfer with the surface at closing.   

12. Survey: The property is legally described, and no survey is being provided by the seller. If the buyer desires a survey, it shall be at the buyer sole expense.

13. Possession: Possession of the property will be given upon payment in full of the purchase price and transfer of title at closing.

14. Title Insurance: Title Insurance in the full amount of the purchase price will be provided by the seller. Seller shall execute a general warranty deed conveying the property to the buyer(s).

15. Taxes: The Seller shall pay any previous years taxes upon closing.  The current year’s real estate taxes shall be prorated to the date of closing.

16. Personal Property:  No personal property is being sold or transferred with the real estate. 

17. Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against Seller, Auctioneer, or Broker of record if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the “Maximum Bid” feature on the bidding platform and lock in their maximum bid amount, if they are concerned about technology failure during the auction. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any technology failure that should arise, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.

18. Soft Close: If a bid is received within the last (3 minutes) of the auction, the auction close time will automatically extend by adding (3 minutes) to the clock on all lots, allowing other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates last second bidding "snipers" and encourages a fair and impartial bidding experience for all participants.

    19. Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice. Real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve price (if applicable). The property is available for and subject to sale prior to auction. By participating in this auction, Buyers hereby acknowledge that any bid(s) placed by them is a binding agreement to purchase the property, subject to the bid being approved by Seller (if applicable).

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