PUBLIC ONLINE AUCTION
By order of the U.S. Bankruptcy Courts
(19) Investment Properties by the Liquidating Trust of J&E Land Company, inc., LLC
Residential Properties including some with tenants.
Residentail Lots
Commercial Properties
Online Bidding Ends October 30th @ 12:00noon.
You have several options to bid.
1. Bid online
2. Bid Center: Pearce & Associates will hold a bid center at a location to be determined. You may attend the bid center on the last day of bidding and recieve registration/bidding assistance from a Pearce staff member.
3. Absentee Bid Form. You can request an absentee bid form. This form will require that bidders place their maximum bids along with a deposit in the amount of 10% of the maximum bid amount per parcel. Non winning bidders will have their deposits returned within 5 business days.
Terms
REAL ESTATE AUCTION
By order of the U.S. Bankruptcy Courts
These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.
Properties sell subject to court confirmation.
All bidders are required to register with a valid credit card. At the conclusion of the online auction, all winning bidders will be automatically charged $1,000 per parcel on their credit cards to be applied towards their earnest money (10%).
Winning bidder must sign a non contingent contract and pay the balance of earnest money within 24 hours of auctions end.
The property will be sold by legal description and transferred by statutory warranty deed free and clear of all liens.
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.
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.
Closing Attorney: Scott Thornley of Maddox, Thornley and Sanders, 818 19th Street W, Jasper, Alabama 35502.
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
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 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.
REAL ESTATE AUCTION
By order of the U.S. Bankruptcy Courts
These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.
Properties sell subject to court confirmation.
All bidders are required to register with a valid credit card. At the conclusion of the online auction, all winning bidders will be automatically charged $1,000 per parcel on their credit cards to be applied towards their earnest money (10%).
Winning bidder must sign a non contingent contract and pay the balance of earnest money within 24 hours of auctions end.
The property will be sold by legal description and transferred by statutory warranty deed free and clear of all liens.
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.
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.
Closing Attorney: Scott Thornley of Maddox, Thornley and Sanders, 818 19th Street W, Jasper, Alabama 35502.
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
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 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.