Coming in July...
Residential Property Auction - Nice Home located in Alabaster, Alabama.
A rare opportunity to purchase at your price!
Online Bidding Starts July 1st and ends on Thursday, July 31st @ 1:00pm central.
This house is agent owned and has been used as a rental property for the past several years. A local Church has used it to house ministry students. It is now being offered at Public Auction. The home is located at 1101 Independence Drive, Alabaster, Alabama 35007. Alabaster is a hot market with limited houses on the market, especially in this price range. The home has had updates in the last few years but will still be in need of some minor TLC. The current owner has decided not to update and allow a new purchaser to make their own paint, carpet and tile choices.
About the property...
* 1101 Independence Drive, Alabaster, Alabama 35007 * Parcel ID#13-8-34-1-005-024.000 * Built in 1987
* Zoned R-1 * Lot dimensions: 100X154X104X156 * 2018 Property Taxes - $1888 (property not homesteaded)
* City Water * City Sewer *
* 1922 Sq Ft Living Space * 3 Bedrooms * 2 1/2 Bathrooms * 698 Sq Ft Finished Space in Basement * 438 Sq Ft Unfinished
* New metal roof - 12-2014
* New A/C upper level 2015
* New A/C main level 2019
5% Buyers Premium. Property Sells subject to seller approval. Winning bidders pays 10% down in earnest money and must close within 45 days. Purchaser pays all closing cost and title insurance. Seller guarantees free and clear title to the property. Property sells as is without contingencies.
We will conduct several open houses in July. Check back for updates, photos, etc.
Why Auction over List?
1. The owner of this property is in the Auction Business! We do not list properties, we only auction them for clients including Alabama Power Company, Estate Executors, U.S. Bankruptcy Courts and many banks and lenders. We believe that an auction produces actual value.
2. The City of Alabaster is a hot area for Real Estate right now. There is a very low supply of homes available for sale, especially under $200,000. Many homes that come available for sale are receiving bids above the listing price.
3. You can still be represented by a Realtor/Broker. We will pay your agent 2% of the bid price if you are the successful buyer. Agent must complete a brokers participation form prior to you becoming a registered bidder and must represent you through closing.
4. The is a Cash transaction and is not subject to condition, inspection, repairs, buyer financing, selling of another home or appraisals. We encourage you to have your cash on hand or financing in place before you register and place a bid. An auction is always without contingencies!
Check back for open house dates.
REAL ESTATE AUCTION
These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.
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 5% buyers premium will be added to the winning bid to determine the final sales
2% Brokers Participation Fee to qualified brokers.
Example: $100,000 bid, plus $5,000 (5% buyers premium) equals $105,000 gross sales price.
The terms are 10% down payment with the balance due within 45 days.
Purchaser to receive possession of the property upon delivery of deed at closing.
Purchaser to pay closing cost and title insurance. Seller guarantees
title to be free and clear.
Ad Valorem taxes will be prorated at closing.
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
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 and to give title 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.