Bankruptcy Properties - Selling in one grouping including Smith Lake lot - $138,500 total tax value for all!

by Pearce & Associates

When

June 05, 2018

Where

Winston, Walker and Winston Counties , AL

How

Online Only

Notes

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ABSOLUTE PUBLIC ONLINE AUCTION - Selling to the highest bidder without reserve!

Selling Land Lots in one (1) package from the former J&E Land Company, LLC U.S. Bankruptcy Case.  The seller will provide purchaser with a statutory warranty deed on each parcel identified.  There has been a recent title search on the tracts that can be provided to the purchaser however, the seller does not provide title insurance.  All parcels are sold as is.

Total Tax Appraisal for all properties - $138,500

Online bidding ends Tuesday, June 5th @ 7:00pm central time.

You are bidding on all of the described lots for one bid.

1.  Winston County, Alabama (Arley) - Smith Lake Lot - Parcel ID#67-20-03-08-0-200-007.009                                                                                        This lot appears to be waterfront on Smith Lake.  It has frontage in a slew.  Paved road frontage with utilities available in this subdivision.  2017 Tax Appraisal - $89,600.  2017 property taxes - $497.95

NOTE:  You are also receiving a small unknown tract nearby which appears on the tax map as Parcel #67-20-03-08-0-200-007.048               The county shows this as little value.

2.   Walker County, Alabama - (2) Residential Lots located in the Eagles Nest Subdivision (Garden Homes).                                                 They consist of Parcel ID#64-17-02-03-4-000-013.006  - 2017 Tax Appraisal $17,500.  2017 property taxes $140.00                                    and Parcel ID#64-17-02-03-4-000-013.008 - 2017 Tax Appraisal $17,500.  2017 property taxes $140.00                                                    and Parcel ID#64-17-02-03-4-000-006.000 - 2017 Tax Appraisal $1,000

3.  Cullman County, Alabama - 1 acre, more or less.  Parcel ID#25-02-10-0-001-005.000 2017 Tax Appraisal $8,400                                   and Parcel ID#25-02-09-0-007-001.001 Tax Appraisal $4500                                                                                                                            and Parcel ID#25-02-09-0-003-005.000      (NOTE:  The Cullman County parcels title search noted that "To the extent that he is still alive, rights of Robert C Bales, as life tenant under that deed book 470, page 34 in Probate Office of Cullman County, Alabama (Cullman Parcel 1)"  It is believed that Mr Bales is deceased but not verified or guaranteed by the auctioneer or seller.

Terms

REAL ESTATE AUCTION

These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.

This online auction is listed to sell a package of land lots from the former J&E Land Company, LLC U.S. Bankruptcy Case. All of the remaining tracts are selling for one (bid), in its entirety. Lots are located in Winston, Walker and Cullman Counties, Alabama. All are sold as is. A statutory warranty deed for each tract will be provided by the seller to the purchaser.

Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.

The property will be sold by legal description and transferred by warranty deed.

A 10% buyers premium will be added to the winning bid to determine the final sales
price.

Example: $100,000 bid, plus $10,000 (10% buyers premium) equals $110,000 gross sales price.

The terms are 20% down payment with the balance due within 30 days.

Purchaser to receive possession of the property upon delivery of deed at closing.

Purchaser to receive a statutory warranty deed by mail upon payment of proceeds. Warranty Deed will be provided by the seller. The seller does not provide title insurance.

Taxes will be up to date.

PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.

BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “As
Is” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure of any bidder to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of a bid, offer or earnest money after its opening
or tender.

All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.

Default by the Seller: If the Sellers are unable to make conveyance as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.

Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.

AGENCY DISCLOSURE: Larry “Chip” Pearce Jr. has not been an agent for the Buyer in this
transaction. Larry “Chip” Pearce Jr. has been an agent for the Seller in this
transaction and is to be paid a commission by the Seller.

The Auctioneer reserves the right to reject bids from anyone who does not comply
with the terms and conditions of this auction.

Bidding: Bidding info- When you bid your max the current bid price doesn't automatically go to your max bid. Someone else has to bid to increase the current price and the
computer will automatically bid up to your max in the increments specified.

This auction has what is called an auto extend feature, meaning the auction will not close until all bidding parties are satisfied. If any bids are placed within the last 5 minutes of the auction, the bid on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes.

Conducted By

Pearce & Associates

205-664-4300, 888-783-4056, 251-600-9595

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