AUCTION REGISTRATION: In order to register for the auction, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. The registration form will need to be completed before bidding. In addition, you must provide proof of funds from your bank that you have sufficient funds to cover the required earnest money down payment in order to obtain a bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to info@AMCbid.com at least 24 hours prior to the auction, or bringing it to the auction. Proof of funds consists of a copy, fax, or original of a current bank statement in bidder’s name showing sufficient funds for 10% earnest money deposit.
AUCTION INFORMATION: All available material and updates are posted to www.AMCbid.com. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 864-350-0323, or by visiting the website.
BUYER’S PREMIUM: Property will be sold with a ten percent (10%) buyer’s premium. The bid amount plus buyer’s premium equals the final purchase price. For example: A $300,000 bid, plus the 10% ($30,000) buyer’s premium, equals the $330,000 final purchase price.
INSPECTION: Tuesday, November 20 12 Noon – 2 PM
CONDUCT OF THE AUCTION: Onsite bids will be solicited by the Auctioneer after the opening announcements. The auction ends when the highest bid is recognized by the auctioneer. Bid increments and bidding methodology are subject to change at the sole discretion of auctioneer.
EARNEST MONEY REQUIREMENT: Winning online bidders must deliver earnest money via check delivered to the Auctioneer or via wire transfer to the escrow account of Escrow and Closing Agent to be named by CARTUS (Relocation Firm) immediately following the auction (See Auction PSA), in the amount of ten percent (10%) of the purchase price (calculated by adding the high bid amount plus a 10% buyer’s premium) Balance will be paid in full at closing. The successful bidder will be notified immediately following the closing of the auction and emailed the sale contract, to sign and return. If you have any questions, you may contact Heidi Googe at heidi@AMCbid.com or 404-821-8069.
PURCHASING AND CLOSING: Buyer shall execute an Auction Purchase and Sale Agreement (“Auction PSA”) for the property immediately after being declared the successful bidder by auctioneer. Buyer shall also initial and sign all pages of the SRED Disclosure (Seller Real Estate Disclosures). A form Auction PSA is available at our websites and at the auction site prior to the auction. The Auction PSA which Buyer must sign at the auction contains an acknowledgment that Buyer has inspected the property prior to the auction, is relying solely on his/her inspection, and is purchasing the property As Is with all faults and without reliance on any warranty of any kind whatsoever. NO CHANGES WILL BE MADE TO SAID AUCTION PSA OR ANY EXHIBITS ATTACHED THERETO, AND BUYER WILL BE OBLIGATED TO EXECUTE AND DELIVER SAID AUCTION PSA ON AUCTION DAY. Provided, however, Seller reserves the right to modify or amend said Auction PSA, to complete blank sections, to attach appropriate exhibits, and to comply with state and local laws as may be enacted or amended from time to time. Closing must occur no later than Friday, December 28, 2018. This deadline must be met unless extended in writing by mutual consent of the parties. Balance of purchase price will be paid in full at closing. Buyer not closing within the contractual time period to close will forfeit his/her earnest money deposit.
BROKER PARTICIPATION INVITED: A broker commission of two percent (2%) of winning bid will be paid to the properly licensed broker whose prospect purchases and closes on the real estate. To qualify for a commission, the Broker must register by mail, email, fax or hand delivery the prospect’s name and address on the Broker Registration form available as a download at the AMC website listing, prior to bidder registration. The form must be signed by the prospect and the Broker, and must be received at the office of Auction Management Corporation no later than 48 hours prior to the published auction bid deadline. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
FINANCING: Please note that financing is NOT a contingency of this transaction. Because financing is NOT a contingency, all potential bidders must make certain in advance that they are capable of obtaining the necessary financing to close the transaction.
PLATS/SKETCHES/DRAWINGS AND PHOTOS: Are not to be relied on. Existing legal descriptions are not guaranteed for complete accuracy. All acreage and dimensions are approximate and could be subject to change upon an actual field survey. All stakes, signs or flags indicating boundaries or location are for general location purposes only and are not to be construed as precise property corners.
AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (877) 980-9565.
EASEMENTS: All property sold is subject to recorded easements which include existing roads and planned roads, power line and other utility easements, ingress and egress easements, and other easements of record.
BUYER’S NOTE: Auctioneer reserves the right to add or delete property from this auction or to alter the order of sale from that published herein. Failure to inspect property prior to auction does not relieve purchaser of contractual obligations of purchase. Property sells As Is – Where Is with no warranties expressed or implied. Real property to be conveyed by Special Warranty Deed. Sale to be closed at the offices of Escrow and Closing Agent to be named by CARTUS. Closing may be done via overnight mail. Only the following sale closing costs will be paid by seller: (1) Commissions or brokerage fees to auctioneer and/or cooperating Brokers as set forth in separate agreement with auctioneer, and as established in these Terms and Conditions; (2) reasonable title corrective expenses, in Seller’s sole determination; (3) 0% of escrow and closing fees charged by Escrow and Closing Agent; and (4) Prorated property taxes as set forth in the Purchase and Sale Agreement and back taxes and HOA assessments due, if any. All other closing costs, including but not limited to surveys, title examination, title insurance, transfer taxes, 100% of closing fees charged by Escrow and Closing Agent, loan closing costs, and Purchaser’s attorney fees are at the expense of the Buyer.
Information was gathered from reliable sources and is believed to be correct as of the date this material is published, however, this information has not been independently verified by Sellers or Auctioneers. Its accuracy is not warranted in any way. There is no obligation on the part of Sellers or Auctioneer to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. Auctioneer is providing Internet bidding as a service to Buyer using a Third-Party Bidding System. Under no circumstances shall Buyer hold Auctioneer liable for system failures resulting in Buyer’s bid not being properly submitted. The Sellers do not have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property except as expressly set forth in the Auction PSA. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through. Please note that unless specifically noted otherwise, Auctioneers and Brokers represent the Sellers only.