PUBLIC AUCTION - By order of the Heirs of the Glasgow Estate
37 Acres, more or less located at the Interstate I-20 exit #199 (Heflin, Cleburne County, Alabama) and County Road 9. Located adjacent to and across from many commercial businesses including America's Best Value Inn - Shell Gas Station - Buster Miles Chevrolet - Buster Miles Ford - Southern Immediate Care and more. This estate property offers an incredible development opportunity for both residential and commercial uses.
Property offered in (3) Parcels with extend one, extend all by the Glasgow Estate.
If you are interested in more than one parcel, you can bid with confidence that none of the tracts will end without giving you the opportunity to bid on them. If any single tract receives a bid in the last 5 minutes, ALL of the parcels will extend allowing you the opportunity to continue bidding. You are bidding on each tract individually! Seller reserves the right to accept or reject bids on one or more tracts.
Parcel #1 - 32 Acres, more or less. This parcel has road frontage on County Road 9 at (2) points as well as a 50' right of way road that fronts I-20 and runs in front of America's Best Value Inn. Parcel ID#18-15-05-21-0-001-002.002 * 2019 County Tax Appraisal $1,586,000.
Parcel #2 - 4 Acres, more or less. This parcel fronts County Road 9 and Stephens Street. A prime commercial investment property. Parcel ID#18-15-05-16-4-000-020.000 * 2019 County Tax Appraisal $181,900
Parcel #3 - 1 Acre, more or less. This parcel fronts County Road 9, directly across from McDonalds and includes a 2500 Sq home (old Glasgow Home). This tract also presents itself as a great commercial site. Parcel ID#18-15-05-21-0-001-002.000 * 2019 County Tax Appraisal $120,620. NOTE: This home is currently tenant occupied and is not available for inspection.
Bidding on this land will be open in late March. You can bid online or if you would like help setting up an account or would like to bid in person, there will be a Bid Center on April 27th starting at 10 A.M. held at the Pearce & Associates corporate office at 720 Fulton Springs Rd., Alabaster, AL 35007.
Terms: 10% buyers premium. To become a qualified bidder, you must submit a deposit in the amount of $2500 payable by credit card, certified funds or bank wire transfer. We can put a hold on your credit card for the deposit. Winning bidders must pay 10% down in earnest money and close within 30 days. Buyer will be required to execute a non contingent sales contract within 24 hours. Time is of the essence. In the event that a buyer does not complete his or her contract in the time required, the property will be offered to the backup bidder. Any loss incurred will be paid by the original buyer by default. Purchaser pays closing cost and title insurance. Seller guarantees free and clear title to the property. The property has not been recently surveyed. We will sell the property by parcel ID#, according to the information recorded in the Cleburne County Alabama GIS website.
REAL ESTATE AUCTION
37 Acres, more or less, offered in (3) Tracts, Combinations and its entirety.
Hwy 9, Heflin, Cleburne County, Alabama
To become a qualified bidder, you must submit a deposit with the auction company in the amount of $2500 by Cashiers Check (payable to Pearce & Associates), Bank Wire Transfer or Credit Card. Winning bidder will have their deposit credited towards earnest money. Non winning bidders will have deposits returned within 48 hours (business days). Pearce & Associates reserves the right to waive deposits.
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. Time is of the essence.
The property will be sold by legal description and transferred by warranty deed.
Property sells subject to the confirmation of the seller.
A 10% buyers premium will be added to the winning bid to determine the final sales
Example: $100,000 bid, plus $10,000 (10% buyers premium) equals $110,000 gross sales price.
The terms are 10% down payment with the balance due within 30 days. Time is of the essence.
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. The Auctioneer reserves the right to bid on behalf of the Seller, Estate Heirs, Lien Holders including banks and lenders and any Government Agency having an interest in the property.
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.