Full Conditions of Sale for 103 East Louden
Conditions of Sale
Thank you for your interest in this property! To learn more about bidding on this property, please read these Conditions of Sale in their entirety.
These Conditions of Sale are intended to help guide you through the online judicial sale process in Pike County. Although they are binding on you, these Conditions of Sale do not cover all aspects of that process. You are encouraged to obtain the advice of counsel if you want to bid on a property.
ALL JUDICIAL SALES ARE ONLINE
All judicial sales in Pike County are conducted online at https://pikecountysheriff-il.roup.com. The Pike County Sheriff’s Office is no longer conducting in-person judicial sales.
SHERIFF’S FEE
The Pike County Sheriff’s Office will collect its $600.00 fee at the time of sale from the Plaintiff’s attorney in accordance with the Sheriff’s customary procedures.
2% BUYER’S PREMIUM
The winning bidder in every auction must pay a buyer’s premium equal to 2% of the winning bid. The buyer’s premium is equal to a percentage of the winning bid. As an example, if the winning bid is $50,000, the buyer’s premium is $1,000.
You should take the buyer’s premium into account when you decide how much to bid.
NO SALE DEPOSITS
Online sales are not subject to a sale deposit. You may bid on a property without paying a sale deposit.
PAYMENT DEADLINE
If you are not a party to the case and you are the winning bidder, your deadline for payment is 10:00 a.m. on the Friday following the sale. The entire balance of the purchase price (i.e., your winning bid amount plus the buyer’s premium) is due by this deadline.
If you are the plaintiff or another party who submitted a credit bid and you are the winning bidder, the deadline for payment of the buyer’s premium is no later than twenty-one (21) days after the sale.
PAYMENT METHOD
All payments must be made by wire transfer or other electronic payment.
Cash and checks will not be accepted.
WHERE TO MAKE YOUR PAYMENT
You must make your payment to the title agency shown on the property details page. You will also receive detailed payment instructions by email soon after the auction ends. These instructions will include wire instructions or, if applicable, other electronic payment instructions.
THE AUCTION MIGHT BE CANCELED OR POSTPONED
An auction might be cancelled or postponed at any time. If this happens, a notice of cancellation or postponement will be posted on the property details page and, if you have registered to bid on the property, you will receive an email informing you of the cancellation or postponement.
CREATING AN ACCOUNT AND REGISTERING TO BID
Roup LLC provides the auction website for the Sheriff’s judicial sales. To bid on a property, you must create an account with Roup. Creating an account with Roup allows you to create login credentials (i.e., a username and password). You will have to create an account with Roup only once.
To bid on a property, you will have to register to bid on the property details page using your login credentials. If you want to bid on more than one property, you will have to register to bid on each property separately.
BIDDING AND MAXIMUM BIDS
Once you have registered to bid, you can bid one of three ways.
First, you can hit the "refresh" icon in the box where bids are entered. The system will enter a bid for you equal to the current bid plus the incremental bid amount.
Second, you can enter your bid manually.
Third, you can enter a maximum bid by entering the highest amount you are willing to pay for the property. As other people bid on the property, the system will enter bids automatically on your behalf in the minimum increment, allowing you to outbid others automatically until your maximum bid is reached. You can increase your maximum bid by entering a higher amount. You can decrease your maximum bid by entering a lower amount, however, you will not be able to lower your maximum bid below the current bid amount.
BIDDING PERIOD
Online bidding is open for three (3) days starting on Tuesday and ending on Friday at 10:00 am, unless extended. See EXTENSION OF THE AUCTION for more information about the possibility of an extension of the bidding period.
THE OPENING BID
Anyone may enter an opening bid. Bidding does not need to start with the plaintiff’s opening bid.
HOW THE SYSTEM TREATS IDENTICAL BIDS
If more than one person enters the same bid amount, the bid entered first will take priority.
MISTAKES IN BIDDING
Review your bid carefully before you submit it! Neither the Sheriff’s Office nor Roup will be able to correct any bid you enter by mistake. You will have a chance to confirm your bid before entering it, so please review your bid carefully!
EXTENSION OF THE AUCTION
If any bidding occurs in the final moments of the auction, the end of the auction will be extended automatically for successive periods of time to give everyone a fair chance to bid against the other participants. This extension of time is called the “anti-snipe time.” The auction will end after no bidding occurs during the anti-snipe time.
PURCHASE CONTINGENT ON COURT APPROVAL
The sale of the property is contingent upon the court’s entering an order approving the sale. There can be no assurance that the court will approve the sale. If the court does not approve the sale, you will not obtain title to the property and your payment of the winning bid amount and/or the buyer’s premium will be returned to you.
NO OTHER CONTINGENCIES
Aside from the court’s approval of the sale, the property is being sold without any contingencies. This means your purchase will not be subject to the kind of contingencies that may be agreed upon in a private sale of real estate, such as a financing contingency or an inspection contingency.
YOU ARE NOT ALLOWED TO ACCESS THE PROPERTY
If you are a third-party buyer, you are not allowed to access the property during the sale process because it does not belong to you. The Sheriff does not have authority to allow you to access the property.
YOU MUST CONDUCT YOUR OWN DUE DILIGENCE ON THE PROPERTY
You must perform your own due diligence on the property. You should independently verify all information about the property. Although information about the property has been obtained from sources thought to be reliable, the Sheriff’s Office does not make any guarantee or representations as to the accuracy or completeness of any information about the property and assumes no liability for any errors or omissions regarding any such information. Photographs of the property, if any, are not guaranteed to be recent or to accurately depict the property.
THE PROPERTY IS BEING SOLD “AS-IS”
The property is being sold in its existing “AS IS, WHERE IS, WITH ALL FAULTS” condition, with no expressed or implied guarantees, representations, or warranties whatsoever, and with all faults, defects, and limitations, whether apparent or not. You are assuming all risks associated with purchasing this property. You must accept the property in whatever state and condition the property is in, with all defects, both patent and latent, and with all faults, whether known or unknown, existing at the time or arising in the future.
SHERIFF’S DEED
Once the judicial sale is completed, a Sheriff’s Deed will be issued to the buyer for recording with the County Recorder of Deeds.
EVICTION PROCEEDINGS
The property might be occupied by the owner or a tenant. If you are the highest bidder, you will be solely responsible for all eviction proceedings.