REAL ESTATE

AUCTION

1937 Babcock Boulevard.

Township Of Ross

Allegheny County PA 15209

"Eight to ten miles North of Downtown Pittsburgh"

Inspection Tuesday November 3...10 am to 1 pm

or auction day at after 10:30 am

TUESDAY, November 10, 2009   12:00 noon

Zoned—General Commercial  37,432  +/-sq. ft lot

200 ‘ of Road Frontage. Tax ID # 219-G-260

Building 10,570 Sq. ft.

$10, 000 down auction day balance in 45 days.

For complete terms and information call.

Selling for PA Attorney General Asset Forfeiture.

AUCTION PROCEDURE

The auction will be held on site Tuesday, November 10, 2009

at  12 noon 

·        Pre-registration starts at 10:30 am

·        Pre-registration is required to participate in the bidding process of the Real Estate auction.   Signed terms and conditions of auction along with a check made payable to                      ZIEGLER AUCTION CO., LTD.  in the amount of $10,000. (TEN   THOUSAND DOLLARS) will be required to obtain a bidder card. The  TEN  thousand will be applied to the deposit money if you are the successful accepted bidder. If you are not the successful high bidder, the check will be returned immediately following the auction.

·        The successful accepted bidder will be required to sign the “Agreement of Sale”,  “Seller’s Property Disclosure Statement” and “Lead-based Paint Disclosure Statement” following the auction (see enclosures). The  TEN  THOUSAND DOLLARS will be placed in escrow. This will be included at settlement toward the purchase of the  property. (see “Agreement of Sale”, Section 5, Earnest Money).

CONDITIONS OF SALE OF REAL ESTATE

          AND AGREEMENT TO PURCHASE AT PUBLIC AUCTION

The conditions of the sale of real estate situated at 1937 Babcock Boulevard, Township of Ross, Allegheny County, Pennsylvania, owned by     COMMONWEALTH OF PENNSYLVANIA                                     , are as follows:

1.   By entering a bid on the property, the bidder will be conclusively deemed to have agreed to be bound by all of the terms and conditions set forth in these Conditions of Sale.

2.   Sale will be at public auction on the premises at,12 noon     E.D.T. on   Tuesday November 10 , 2009 .  All bidders must be pre-registered. 

     Registration start auction day at 11 am.

3.   Until specifically removed by announcement of the auctioneer, the seller reserves the right to reject any and all bid or bidders.  The purchaser shall be the person who, after the reservation has been specifically removed, is the highest bidder at the time the auctioneer declares the auction to be completed.  The Auctioneer shall have sole discretion and authority to resolve any conflict concerning the order or amount of any bid, or which bidder shall be considered the successful highest bidder.

4.  The Office of Attorney General specifically reserves    the right to reject bids or to void any previously accepted bids (or contract) on real estate forfeited pursuant to the      provisions of the Controlled Substances Forfeiture Act           submitted by or on behalf of anyone with criminal charges        pending, or a criminal conviction, or any spouse, parent,        child or sibling of such person, which arose from or was         associated with the criminal activity which resulted in the      forfeiture of the real estate.

5.   Each prospective bidder shall, at the time of registration as a bidder, pay an earnest money deposit in the amount of       $ 10,000  (  Ten thousand dollars)  by cash, certified check, bank money order, bank check, or other form acceptable to Seller, which shall be held by auctioneer until the day of sale.  If the prospective bidder becomes the purchaser, the purchaser shall sign an Agreement of Sale immediately upon completion of the auction of the property, and thereafter the earnest money deposit shall be placed in escrow pursuant to the terms and conditions of the agreement of sale.  In the event the bidder does not become the purchaser, his earnest money deposit will be returned to him on the day of the sale following his signature of a receipt.

6.   Settlement shall be held on or before the    31    day of    December ,2009, at                                            .

7.   At the time of settlement, Sellers shall convey the property to purchaser by special warranty deed (or in the case of an estate, by fiduciary warranty deed) prepared at purchaser's expense.  The property shall be conveyed, free and clear of all liens, and subject only to residential easements and restrictions of record, and those visible upon inspection, if any.

      The Office of Attorney General shall be held harmless from

     any defects in the chain of title that may be discovered at

     any time before, during or after the transaction that is the

     subject of this agreement.  Therefore, it is the recommended

     that the purchaser, at purchaser expense, obtain a policy of

     title insurance prior to the settlement date set forth in

     this agreement.

     In the event that either party discovers an error in the

     chain of title at any time before or after the closing date,

     the defect may be cured or this agreement may be rendered

     null and void at the sole discretion of the Office of

     Attorney General, and all monies held by the OAG will be

     returned to the purchaser.

8.   County, municipal and school district taxes and sewage and trash charges shall be apportioned between the seller and the purchaser as of the date of final settlement.

9.   Purchaser shall be solely responsible for the payment of any and all real estate transfer taxes required to be paid as as result of this transaction.

10.  Any survey and/or title insurance or title search required for financing by the purchaser or any other purpose shall be performed at the cost and expense of the purchaser.

11.  Purchaser agrees to purchase property upon his own physical inspection of the premises, said premises being sold in "AS-IS" condition and without any express or implied guarantee or warranty from seller, Auctioneer, or their agents.

12.  Possession shall be given at the time of settlement.

13.  Purchaser will be responsible for all real estate broker fees that may be owed as a result of any buyer's brokerage agreement.  Seller will be responsible for fee due Jay Ziegler, Auctioneer.

14.  The following personal property shall remain and be sold together with the real property:

a. This property will not be broom cleaned .

15.  The following fixtures are to be removed and will not be sold with the real property:

          a.           n/a                   

16.   Time is of the essence.

17.  The declared successful bidder will be required to sign a lead-based paint disclosure statement (see sample).

18.  By signing these conditions of sale, the prospective bidder acknowledges that he has read and understands the conditions, and agrees to be bound by them, and has read and understands the agreement of sale which is attached hereto and incorporated herein by reference, and in the event the prospective bidder becomes the purchaser, agrees to sign and be bound by same.

PURCHASER:

                                           Date

                                           Date

Valid PA Drivers license or state-issued ID required for Bidder Registration.  Announcements made on Auction Day take precedence over printed material. Seller reserves the right to remove any item from the auction until auction day.