PUBLIC ONLINE AUCTION
By order of the Investor/Owner.
Pearce & Associates in association with our MarkNet Alliance Partner, Breco Benton Auction Company is conducting an online auction to liquidate commercial buildings and some tracts of land for a Georgia investor. Many of these properties were previously owned and purchased from Alabama Power Company as an investment for the current owner. The owner is liquidating his Alabama Properties to invest in other opportunities in his home state.
This auction includes the following properties in Alabama:
1. Commercial Building (former APC office) - 724 Commerce Drive, Alexander City, Alabama (2 leasable buildings)
2. Commercial Building (former APC office) - 19275 North 3rd Street, Citronelle, Alabama
3. Commercial Building (former APC office) - 440 College Street, Sulligent, Alabama
4. Commercial Building (former APC office) - 105 Jennifer Lynn Drive, Daleville, Alabama
5. Commercial Building (former APC office) - 7 Reed Street Street, Clayton, Alabama
6. 29 Acres undeveloped LAND - 2990 Lacy Road, Birmingham, Alabama
7. 2.07 Acres undeveloped LAND - Pike Road, Montgomery, Alabama
8. .31 Acres undeveloped LOT - McMillan Street, Talladega, Alabama
Check back as we are preparing a bidding catalog with details on each property. Open house inspection dates will be posted soon as well.
Sale Manager: Damon Folmar, AL #3028 - [email protected] - 205.966.8114
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 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.
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.
Properties sold subject to sellers confirmation. The auctioneer reserves the right to bid on behalf of the lender, mortgage holder, any government authority having an interest in the property and/or the seller up to the reserve amount.
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.