The following announcement has been made regarding the opportunity for prospective bidders to view the home at 205 W. Lima Ave. beginning September 7.
The undersigned Trustee of the DeBow Freed Trust will offer for private sale the residence of Dr. DeBow Freed, former president of Ohio Northern University, located at 205 West Lima Avenue, Ada, Ohio 45810.
This is a modern home containing 15 rooms, including a library, a study, three (3) bedrooms, and three (3) full baths with a finished basement set on 1.794 acres of beautiful lawn.
The terms of sale are as follows: The home will be open for inspection on Wednesday, September 7, 2022, from 1:00 p.m. to 5:00 p.m. A private sale of the residence will be closed on or before October 22, 2022. All interested buyers are invited to submit their sealed, written bids to the Trustee no later than 2:00 p.m. September 15, 2022, to Charles P. VanDyne, at the Freed residence at 205 West Lima Ave, Ada, Ohio 45810. The sealed bids will be opened in the presence of two witnesses on September 15, 2022 at 2:00 p.m. at the residence, 205 West Lima Avenue, Ada, Ohio. When the bids are opened, the high bid will be announced. All bidders present in person or through a representative with proper legal authority will be permitted to increase their bids if they so desire. When bidding has been completed, the high bid will be announced. The Trustee will then decide whether he will accept the highest bid. The Trustee retains the right to accept or reject any and all bids received, including the high bid received. If the high bid is accepted, such person(s) must make a payment of $25,000.00 by 5:00 p.m. the following business day at the above office of Attorney Charles P. VanDyne as an earnest money deposit with the remaining purchase price being fully due and payable at closing. The closing will take place at a place and time no later than October 22, 2022, as mutually agreed upon by Attorney Charles P. VanDyne and the accepted bidder. If the accepted bidder fails to timely make the earnest money deposit, or to close timely, the Trustee retains the right to accept the next highest bid offer without notice and to close upon the same terms.
The property will be sold “as is.” Clear title will be transferred to purchaser by fiduciary deed with fiduciary covenants. The Trustee will provide no title insurance at closing but a buyer’s policy of title insurance may be purchased by purchaser from a title insurance agent of their choosing.
Anyone desiring more information may call Charles P. VanDyne, Trustee, at 419-634-5791. Any announcements made at the time of sale will take precedence over any information contained herein.
