ABSOLUTE AUCTION
Online Bidding Only!
Prime Commercial/Investment Property
31 Wesley Avenue
Town of Fairview
East Cullman County, Alabama 35056
Pearce & Associates Auction Company has been commissioned by the owners family to conduct an Absolute Public Auction for this living estate. The owner has been moved to an assisted living facility and is not longer able to manage this investment property. The out of state family members have authorized Pearce & Associates to sell it to the highest bidder.
Property Information per Cullman County Property Appraisal Link:
1.5 Acres, more or less * Dimensions - 295x232.3 * Commercial Building containing retail & warehouse space * Currently the property has (4) Tenants
*Approx 10,000 Sq Ft total space
1. Truth Assembly Church - occupied 10 years
2. Cullman County Library Extension - occupied since August 2011
3. Style Designs - occupied 10 to 15 years
4. Trendy Treasures - occupied 1 year.
Currently the property brings in $1500 per month
Parcel ID# 11-04-19-0-001-010.004
2011 Taxes - $692.64
Assessed at $133,200
Located across from East Cullman County Water System offices &
Dollar General Store
Located near the intersection of Hwy 69N and Wesley Ave.
Auction Terms: <br>
<br>
REAL ESTATE AUCTION<br>
<br>
Terms & Conditions<br>
<br>
These<br>
announcements supersede any prior oral or printed statements and will be attached to<br>
and become a part of the contract.<br>
<br>
The property will be sold by legal<br>
description and transferred by deed. <br>
<br>
A 10% buyers premium will be added to the winning bid to<br>
determine the final sales price.<br>
<br>
Example: $100,000 bid, plus $10,000 (10%<br>
buyers premium) equals $110,000 gross sales price. <br>
<br>
The terms are 10%<br>
down payment sale day with the balance due within 45 days. <br>
<br>
Purchaser<br>
to receive possession of the property upon delivery of deed at closing.<br>
<br>
Purchaser to pay closing cost and title insurance. Seller guarantees<br>
title to be free and clear. <br>
<br>
Ad Valorem taxes will be prorated at<br>
closing.<br>
<br>
PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding<br>
easements of any kind on said property, including but not limited to, roads, right of<br>
ways, utilities, water lines, and the like; any mineral, oil and past conveyances,<br>
leases or reservations; to any cemeteries that might exist on the property,<br>
outstanding leases recorded or unrecorded; zoning ordinances affecting the property;<br>
restrictions of record; wet lands; all rules and regulations of any appropriated<br>
authority having jurisdiction over the property, and any recorded encroachments of<br>
record.<br>
<br>
BUYERS NOTE: Prior to the auction all prospective purchases<br>
should examine the property and all surrounding documents carefully as each bidder is<br>
responsible for evaluating the property and shall not rely on the sellers nor the<br>
auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the<br>
property and are satisfied and accept it “As Is” without warranties expressed or<br>
implied. Personal on-site inspection of the property is recommended. Failure of any<br>
bidder to inspect or to be fully informed as to the condition of all or any portion<br>
of the property offered, will not constitute any grounds for any claim or demand for<br>
adjustment or withdrawal of a bid, offer or earnest money after its opening or<br>
tender.<br>
<br>
All information was obtained from sources deemed<br>
reliable. Although every precaution has been taken to insure accuracy, the sellers<br>
and all of their agents will not be responsible for any errors or omissions<br>
herein.<br>
<br>
Default by the Seller: If the Sellers are unable to make<br>
conveyance and to give title as herein agreed, the earnest money shall be refunded to<br>
the buyer and all obligations of either party shall wholly<br>
cease.<br>
<br>
Default by the Buyer: Should the Buyer default in the<br>
performance of his/her contract in the time and the manner specified, then the<br>
earnest money shall be retained as partial liquidated damages and the seller may sue<br>
for specific performance.<br>
<br>
AGENCY DISCLOSURE: Larry “Chip” Pearce Jr.<br>
has not been an agent for the Buyer in this transaction. Larry “Chip” Pearce Jr. has<br>
been an agent for the Seller in this transaction and is to be paid a commission by<br>
the Seller.<br>
<br>
The Auctioneer reserves the right to reject bids from<br>
anyone who does not comply with the terms and conditions of this auction.
<br>
REAL ESTATE AUCTION<br>
<br>
Terms & Conditions<br>
<br>
These<br>
announcements supersede any prior oral or printed statements and will be attached to<br>
and become a part of the contract.<br>
<br>
The property will be sold by legal<br>
description and transferred by deed. <br>
<br>
A 10% buyers premium will be added to the winning bid to<br>
determine the final sales price.<br>
<br>
Example: $100,000 bid, plus $10,000 (10%<br>
buyers premium) equals $110,000 gross sales price. <br>
<br>
The terms are 10%<br>
down payment sale day with the balance due within 45 days. <br>
<br>
Purchaser<br>
to receive possession of the property upon delivery of deed at closing.<br>
<br>
Purchaser to pay closing cost and title insurance. Seller guarantees<br>
title to be free and clear. <br>
<br>
Ad Valorem taxes will be prorated at<br>
closing.<br>
<br>
PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding<br>
easements of any kind on said property, including but not limited to, roads, right of<br>
ways, utilities, water lines, and the like; any mineral, oil and past conveyances,<br>
leases or reservations; to any cemeteries that might exist on the property,<br>
outstanding leases recorded or unrecorded; zoning ordinances affecting the property;<br>
restrictions of record; wet lands; all rules and regulations of any appropriated<br>
authority having jurisdiction over the property, and any recorded encroachments of<br>
record.<br>
<br>
BUYERS NOTE: Prior to the auction all prospective purchases<br>
should examine the property and all surrounding documents carefully as each bidder is<br>
responsible for evaluating the property and shall not rely on the sellers nor the<br>
auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the<br>
property and are satisfied and accept it “As Is” without warranties expressed or<br>
implied. Personal on-site inspection of the property is recommended. Failure of any<br>
bidder to inspect or to be fully informed as to the condition of all or any portion<br>
of the property offered, will not constitute any grounds for any claim or demand for<br>
adjustment or withdrawal of a bid, offer or earnest money after its opening or<br>
tender.<br>
<br>
All information was obtained from sources deemed<br>
reliable. Although every precaution has been taken to insure accuracy, the sellers<br>
and all of their agents will not be responsible for any errors or omissions<br>
herein.<br>
<br>
Default by the Seller: If the Sellers are unable to make<br>
conveyance and to give title as herein agreed, the earnest money shall be refunded to<br>
the buyer and all obligations of either party shall wholly<br>
cease.<br>
<br>
Default by the Buyer: Should the Buyer default in the<br>
performance of his/her contract in the time and the manner specified, then the<br>
earnest money shall be retained as partial liquidated damages and the seller may sue<br>
for specific performance.<br>
<br>
AGENCY DISCLOSURE: Larry “Chip” Pearce Jr.<br>
has not been an agent for the Buyer in this transaction. Larry “Chip” Pearce Jr. has<br>
been an agent for the Seller in this transaction and is to be paid a commission by<br>
the Seller.<br>
<br>
The Auctioneer reserves the right to reject bids from<br>
anyone who does not comply with the terms and conditions of this auction.