City of Johnstown Terms and Conditions of the Auction

INTERNET TERMS (in addition to standard terms below):

1.     Registration.  All bidders are required to register and provide suitable I.D. (photo copy acceptable) prior to the auction.  Auctioneer reserves the right to decline registration if I.D. produced is not sufficient.  Notarized copy of bidder’s signature on copy of bidder’s valid acceptable photo identification or passport must be provided to auctioneer. NO EXCEPTIONS.

2.    Bidder approval for internet. In order to bid online, you will need to complete the Internet Bidding Packet (IBP) that will be emailed to you via electronic link from DocuSign. A sample IBP can be found at the top of the auction web listing approximately 30 days prior to the auction. Completed documents must be received by auctioneer/broker no later than 4:00PM on Monday, November 28, 2022, to be approved to bid online for this auction. NO EXCEPTIONS.

3.     INTERNET BIDDING through our Provider is offered as a service to our customers, and bidders shall not hold City of Johnstown and/or Absolute Auction & Realty, Inc, responsible for any failure due to the loss of the internet connection supplied to Absolute Auction & Realty, Inc., by the Provider.

STANDARD TERMS:

1.     Purchaser shall be responsible for the payment of an eleven percent (11%) buyer’s premium (1% buyer’s premium discount for cash or guaranteed funds) in addition to the accepted purchase price, advertising fee of 1.5% of the bid price and the closing fees/costs.

2.     a) $1,000.00 or 20% of the total contract price (bid price + buyer’s premium), whichever is higher shall be paid as a down payment at the auction upon execution of a contract of sale. All required deposits must be paid in full for all successful bids by the end of the auction. Any successful bidder, who fails to tender the deposit at the end of the auction, will be forbidden to participate in this or any other auction.  If a purchaser fails to close on the parcels(s) that he /she bids on at the auction, he/she will be prohibited from participating at future auction held for the City of Johnstown. All deposits are to be made by credit card (MasterCard, Discover Card or Visa) for the deposit amount ONLY, cash, money order or bank check, made payable to the “City of Johnstown” No exceptions. The Purchaser paying by credit card(s) agrees that they shall NOT attempt a charge back on their credit card(s) used in this/these transaction(s) for any reason whatsoever. In such event that a charge back is initiated by Purchaser and that such attempt is upheld in favor of Auctioneer/City of Johnstown, Purchaser agrees and authorizes to compensate Auctioneer with a $750.00 recovery fee as a new charge to their credit card(s) without requiring additional Purchaser signature(s). Failure to pay such recovery fee will result in collection action against said Purchaser(s).

3.     All required deposits must be paid in full for all successful bids immediately upon being declared the successful bidder. Any successful bidder, who fails to tender the deposit, will be forbidden to participate in this or any other auction. Any parcels which the City did not receive deposits for, as per these terms and conditions, will be considered to be defaulted and the bidder will be disqualified from further bidding.  Furthermore, upon a default in payment for any one parcel, either during the auction or subsequent thereto, the bidder shall not be permitted to purchase any other parcel(s) bid on, and any deposit monies paid thereon will be forfeited to the City.

4.     The entire balance of the purchase price, the buyer’s premium, and all closing costs/fees must be paid by cash or guaranteed funds to the City of Johnstown on or before December 30, 2022.  Any school, city, village, sewer and water taxes levied and unpaid as of the day of the closing will be the sole responsibility of the successful bidder and should be paid to the appropriate taxing jurisdiction. Credit card payment is NOT acceptable for balance due. All payments must be made by cash, money order or bank check.

5.     All real property, including any buildings thereon, is sold ”AS IS” and without any representation or warranty whatsoever as to the condition or title, and subject to: (a) any state of facts an accurate survey or personal inspection of the premises would disclose; (b) applicable zoning/land use/building regulations; (c) water and sewer assessments are the responsibility of the purchaser, whether they are received or not; (d) easements, covenants, conditions and right-of-way or record existing at the time of the levy of the tax, the non-payment of which resulted in the tax sale in which City of Johnstown acquired title; (e) 2022-2023 City taxes, school taxes, water & sewer charges (including, but not limited to, omitted and pro rata taxes, demolition charges, any service charges levied against property by municipality, interest and penalties); (f) federal and/or state taxes, liens, judgments and encumbrances of record; and (g) for purposes of taxation, the purchaser shall be deemed to be the owner prior to the next applicable taxable status date after the public auction.

6.     The City makes no representation, expressed or implied, as to the condition of any property, warranty of title, or as to the suitability of any for any particular use or occupancy. Purchasers shall be responsible for investigation and ascertaining from the appropriate Building Inspector’s records the legal permitted use of any property prior to Auction.

7.     Conveyance shall be by quit-claim deed only, containing a description of the property as it appeared on the tax roll for the year upon which the City acquired title. The deed will be recorded by the City upon payment in full of the purchase price, buyer’s premium, school, town and city taxes (if any), and closing fees/costs.  POSSESSION OF PROPERTY IS FORBIDDEN UNTIL THE DEED IS RECORDED WITH THE CITY CLERK CONVEYING TITLE TO THE PURCHASER.  TITLE VESTS AT THE RECORDING OF THE DEED.  It is agreed between the City and the Purchaser that delivery and acceptance of the deed occurs upon recording of the deed.

8.     The closing costs/fees which the purchaser shall be required to pay shall consist of: (a) New York State Transfer Tax [$2.00 for each $500.00 of the purchase/bid price]; (b) filing Fee for the Real Property Transfer Report (RP-5217) of $125.00 if the property is classified as agricultural, a 1-3 family dwelling, an apartment, or a condominium, and $250.00 if the property is otherwise classified (vacant, commercial, entertainment, community service, industrial, public service, forest, etc.); (c) filing fee for Combined Gains Tax-Transfer Tax Affidavit [$5.00]; and (d) all other fees and surcharges required by the City Clerk for recording of the deed.

9.     Purchaser shall provide information necessary to complete, and shall execute, the necessary forms and documents required for recording the deed in the City Clerk’s Office, at the time of bidder registration. Entities such as corporations, limited partnerships, limited liability companies, etc. are required to provide AT REGISTRATION: 1) a copy of the state entity incorporation filing receipt, 2) EIN number and 3) a corporate resolution duly embossed with incorporation seal authorizing the registrant to purchase real property for said entity.

10.  All sales shall be final, absolute and without recourse, and in no event shall City of Johnstown and/or Absolute Auction & Realty, Inc., be or become liable for any defects in title for any cause whatsoever, and no claim, demand or suit of any nature shall exist in favor of the purchaser, its heirs, successors or assigns, against City of Johnstown and/or Absolute Auction & Realty, Inc., arising from this sale.

11.  Notice is hereby given that the premises being sold may lie within an Agricultural District as designated upon the tax map.  It is the sole responsibility of any bidder to ascertain which specific parcel(s) is so designated and there sold subject to the provisions of law applicable thereto.

12.  By acknowledging and executing these Terms & Conditions, the purchaser certifies that he/she is not representing the former owner(s) of the property against whom City of Johnstown foreclosed and has no intent to defraud City of Johnstown of the unpaid taxes, assessment, penalties and charges which have been levied against the property.  The purchaser agrees that neither he/she nor his/her assigns shall convey the property to the former owner(s) against whom City of Johnstown foreclosed within 24 months subsequent to the auction date and, if such conveyance occurs, the purchaser understands that he/she may be found to have committed a fraud and /or intent to defraud and will be liable for any deficiency between the purchase price at the auction and such sums as may be owed to City of Johnstown as related to the foreclosure on the property and consents to immediate judgment by City of Johnstown for said amounts.

13.  City of Johnstown acquired title to these properties in accordance with Article 11, of the Real Property Tax Law of the State of New York, and all known rights of redemption under said provisions of law have been extinguished by the tax sale proceedings; and/or as a result of forfeiture.

14.  If a purchaser owes any outstanding and delinquent taxes to City of Johnstown, those delinquent taxes must be paid in full prior to closing on any purchases made at this auction. Failure to comply with this provision will be grounds for default and forfeiture of any deposits paid.  PREVIOUSLY DEFAULTING PARTIES ARE NOT ALLOWED TO BID!

15.  Sale of the City owned properties shall be as follows: (a) in the event that the high bid on a parcel meets or exceeds the minimum bid price established by City of Johnstown, and otherwise fully complies with the terms and conditions of sale, the sale of such parcel shall be final and absolute and will not be subject to confirmation by City of Johnstown; (b) in the event that the high bid on a parcel is less than the minimum price established by City of Johnstown, and otherwise fully complies with the terms and conditions of sale, the sale of such parcel shall be subject to confirmation by the City of Johnstown Common Council which will meet on December 19, 2022 before such sale shall be final.

16.  No personal property is included in the sale of any of the parcels owned by City of Johnstown.  The disposition of any personal property located on any parcel sold shall be the sole responsibility of the successful purchaser following the closing of sale.

17.  All informational tools, such as slides, tax maps, deeds, photos, auction listings, auction catalogs, auction signs, property record cards, etc., are for identification purposes only and are neither a guarantee nor a warranty as to location, dimensions, parcel use and/or size, or anything else.  THE CITY, THE AUCTIONEER, AND THE BROKER MAKE NO WARRANTY EXPRESSED OR IMPLIED IN CONNECTION WITH THIS SALE.

18.  The auctioneer’s decision regarding any disputes is final, and the auctioneer reserves the right to reject any bid that is not an appreciable advancement over the preceding bid.

19.  Evictions, if necessary, are solely the responsibility of the successful bidder after closing and recording of the deed.

20.  The successful purchaser on each auction parcel must remove the auction sign within seven (7) days after the recording of the deed.

21.  The purchaser shall be solely responsible for the payment of all taxes levied against the property subsequent to the auction.

22.  The purchaser may not assign his/her right to complete the sale.  ALL DEEDS SHALL BE EXECUTED SOLELY IN THE NAME OF THE BIDDER (AND SPOUSE, IF REQUESTED) AS REGISTERED AT THE AUCTION.

23. Bidder gives permission for Auctioneer and those acting pursuant to its authority to photograph, video tape, or use any other electronic method of recording my likeness and/or voice to be used at the Auctioneer’s discretion in auction-related publications and/or websites.