BANK OWNED DEVELOPMENT PROPERTY. 4.8 Acres, more or less. Located on Kelley Road, just off of Mountain Home Road, Trinity, Morgan County, Alabama. The adjacent property address is 257 Mountain Home Road as a reference. This property has significant road frontage and was originally intended to be sold by the previous owners as residential lots. It is located across Mountain Home Road to several major developments including Hidden Creek subdivision and Mountain Home Subdivision.
(3) Parcels selling together as one tract, containing 4.8 Acres, more or less according to the tax map. ID# 02-04-18-0-000-007.004 PIN#471 ID# 02-04-18-0-000-010.000 PIN#474 ID# 02-04-18-0-000-011.000. PIN#475
Terms
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% buyer’s premium will be added to the winning bid to determine the final 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
or tender.
All information was obtained from sources deemed reliable. Although every precaution has been taken to ensure 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.
The Auctioneer reserves the right to reject bids from anyone who does not comply
with the terms and conditions of this auction.
AGENCY DISCLOSURE: Larry “Chip” Pearce Jr. (Broker) and Damon Folmar (Agent) have not been an agent for the Buyer in this transaction. Larry “Chip” Pearce Jr. and Damon Folmar have been an agent for the Seller in this transaction.
