Absolute Auction
Online Only
2 Bedroom 2 Bath Home
Storage Building
Bidding Starts January 20, 2021
Ends February 10, 2021 at 6:00 PM CST
Please Read Terms and Conditions.
Buyer's Premium Fee of 10% is added to Highest Bid
SOLD "As Is” "Where Is"
Open House Dates
Wednesday, January 27, 2021 ~ 1:00 pm until 4:00 pm
Saturday, February 6, 2021 ~ 1:00 pm until 4:00 pm
By placing your bid you agree to the Terms and Conditions of this Auction. All information has been gathered by Elmore County GIS among other sources and is believed to be accurate but not guaranteed. Interested parties should do their own due diligence. Conveyance is by a Limited/Special Warranty Deed, not a General Warranty Deed. Bidder must complete any desired inspections and risk assessments for the presence of lead-based paint or hazards prior to auction; otherwise, bidder waives the opportunity to conduct such inspection or risk assessment. Upon making a winning bid, Bidder must immediately complete and sign the lead-based paint disclosure form.
Terms and Conditions of the Auction
Auction: 408 King Street, Tallassee, AL 36078
Please carefully read these Terms and Conditions. This document describes the Bidder/Purchaser’s responsibility and many disclosures the Bidder/Purchaser should be aware of. Failure to read and understand these Terms and Conditions is a failure of the Bidder/Purchaser and not an excuse to void a bid placed or a contract signed by the Bidder/Purchaser. All sales are final.
Southern Auction Solutions, Ron Young Auctioneer, Al #5390, Southern Auction Solutions staff will hereby be known throughout this document as “Auction Company”.
“As Is” “Where Is”
- Due Diligence – It is the Bidder/Purchaser’s responsibility to examine the property they are bidding on independently. We have disclosed any known defect with this property. We believe the information provided is factual but not guaranteed. We strongly urge you to perform your own study of the property before placing a bid.
- The information provided in the property information package in regards to the size of the property, or any other factors are estimates only used for the convenience of the Bidder/Purchaser unless confirmed by recent survey. Auction Company is not responsible for exact size amounts.
- All information is believed to be either estimates or to be accurate, neither the descriptions nor any oral statements made by the Auction Company, shall be construed as a warranty, either expressed or implied. I the Bidder/Purchaser have inspected the property I am bidding on and accept it and any and all faults.
- Lead-Based Paint Waiver. Bidder/Purchaser must complete any desired inspections and risk assessments for the presence of lead-based paint or hazards prior to auction; otherwise, bidder/purchaser waives the opportunity to conduct such inspection or risk assessment. Upon making a winning bid, Bidder/Purchaser must immediately complete and sign the lead-based paint disclosure form.
1. Purchase Contract: The property is offered under the specific terms provided in the Real Estate Sales Contract. A sample Real Estate Sales Contract and all other documents are available at www.SouthernAuctionSolutions.com for the property under the document tab. The entire property information package with the Real Estate Sales Contract is available at www.SouthernAuctionSolutions.com. Please download the Property Information Package to view.
a. Bidders will be manually approved for registration to bid online.
b. Deposit is 10% of the high bid. The deposit is due to the Auction Company within 24 Hours after the online auction is concluded via wire transfer or cashier’s check.
Notice to Non-U.S. Citizens: All deposits must be arranged through wire transfers to Southern Auction Solutions. Non-U.S. Citizens’ Certified checks will not be accepted.
c. The winning Bidder/Purchaser will be required to sign a binding, non-contingent Real Estate Sales Contract and Lead Based Paint Disclosure Form, immediately following the auction sale.
d. Bidding Increments are as follows: A minimum of $500.00 bid increments for the property. However, this may change as the Auctioneer sees fit. Bidders may enter a higher amount but no bids below the bid increments set will be accepted.
THE BID AMOUNT THAT IS SHOWN AS THE HIGH BID IS WITHOUT A BUYER’S PREMIUM. ALL BIDS IN THE ONLINE BIDDING WILL HAVE A 10% BUYER’S PREMIUM ADDED TO DETERMINE THE FINAL SALES PRICE PLUS THE COST OF CLOSING.
2. Terms of Sale: At the conclusion of the auction, the winning Bidder/Purchaser(s) will be emailed or faxed a Real Estate Sales Contract to be executed and returned to Ron@SouthernAuctionSolutions.com and or fax to: 256-357-2323. Successful Bidders will deposit Ten Percent (10%) of the High Bid Price by wire transfer or certified check to the Auction Company, Southern Auction Solutions trust account with the Real Estate Sales Contract within 24 hours of auction conclusion. The entirety of the remaining balance is due at closing on or before 30 DAYS. This must be completed within 24 hours of receipt of the documents or the Bidder/Purchaser shall be in default.
3. Bidder Verification: Bidder/Purchaser must register to participate in the auction. Southern Auction Solutions will verify all Bidder/Purchaser registrations. If the Auction Company is unable to verify the Bidder/Purchaser and/or the Bidder/Purchaser does not comply with the online terms the bidding rights shall be terminated or extinguished without notice. The Auctioneer may require a proof of funds letter be submitted prior to or during Bidder/Purchaser participation.
4. Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price to determine the final sale price. Example:
Bid Price: $100,000
Plus 10% Buyers Premium: $10,000
Total Sale Price: $110,000
5. Bidding Format: BidWrangler (our bidding platform) and affiliated companies, utilize timed auction events in an online setting. You will need a continuous internet connection, high speed connection is recommended.
Our online only real estate auctions also include an auto-extend feature. Any bid placed within 2 minutes of the auction ending will automatically extend the auction for an additional 2 minutes from the time the bid is placed. A maximum bid can be placed on any property. For technical assistance please call 334-646-9627.
(Example:) If an auction scheduled to end at 4:00 p.m. receives a bid at 3:59 p.m., the conclusion of the auction automatically extends to 4:01 p.m. The auto-extend feature remains active until no further bids are received within the 2-minute time frame. The winning Bidder/Purchaser is the final Bidder/Purchaser whose bid has not been raised in the 2-minute time frame. The countdown clock on our web site is the time in which we will go by. In this auction all tracts will extend if a bid comes in within the last 2 minutes on any tract. Once all bidding has ceased the auction will close.
6. Auction Bid Default: In the event a winning Bidder/Purchaser fails to submit the executed Real Estate Sales Contract as well as the required earnest money deposit as provided in the Auction Terms, there may be remedies for the seller as a result of default.
7. Closing: Closing will occur within 30 days of the auction. The Seller shall convey the property by Limited/Special Warranty Deed. The Seller shall pay for their prorated share of taxes. The Bidder/Purchaser shall be responsible for all other costs of closing and transfer. Bidder/Purchaser acknowledges that this Auction is not contingent upon post Auction inspections or financing approval. Any closing that is delayed beyond 30 days without the written authorization of Seller and Auction Company due to any actions or inactions of Bidder/Purchaser or anyone working on behalf of Bidder/Purchaser, including lenders, inspectors, appraisers, etc., will cause Bidder/Purchaser to be considered to be in breach of contract. Bidder/Purchaser will forfeit all down payment and will be held responsible for any costs incurred by either Auction Company or Seller from the resale of the properties, all legal claims will be properly filed in Randolph County, in the State of Alabama.
8. Agency Disclosure: Southern Auction Solutions, Ron Young and all affiliates and partners represent the SELLER in ALL transactions.
9. Disclaimer: All information contained herein is believed to be correct. Accepting the Terms & Conditions you acknowledge you have read and understand them. The information is being furnished to Bidder/Purchasers for the Bidder’s convenience, and it is the responsibility of the Bidder/Purchaser to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Each Bidder must conduct and rely solely upon their individual investigation and inspection. The property is being sold “AS IS, WHERE IS” with any and all faults. All properties are sold subject to any and all existing matters of record, all easements, and local zoning regulations. There are no contingencies for financing, appraisals, repairs, or inspections or any other requirements that may be required by a mortgage company. Please review all information supplied and seek appropriate assistance prior to bidding.
Bidder acknowledges that hardware malfunctions, software malfunctions, viruses and similar issues do occur and are beyond the knowledge, scope, and control of the Auction Company. We are NOT responsible for your system malfunctions, connection to the Internet or your email stopping any of our emails to you in regard to bid confirmations and/or outbid notifications.
Read the descriptions and view photographs carefully. If you have any questions, please call the Auctioneer at 334-885-1787. Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. The property is sold AS-IS, WHERE IS; this is an AUCTION and all SALES ARE FINAL. Bids cannot be retracted and are binding contracts between Bidder/Purchaser and Auctioneer/Seller. Bidder/Purchaser is accountable to be informed about the property and associated costs before bidding.
The starting bid is not the Reserve Price. Auctioneer reserves the right to reopen bidding. Auctioneer’s decisions will be final.
10. Changes, Alterations and Announcements: The Auctioneer reserves the right to deny any person admittance to the auction, to postpone or cancel the auction, to withdraw the property from Auction and to change or alter the terms of the Auction upon announcement prior to or during the course of the Auction sale, without prior notice.
11. **Disclosure***: Any items left in the home will be the winning Bidder/Purchasers. Southern Auction Solutions nor the Seller will be responsible for removal of items or cleaning of the home. Southern Auction Solutions nor the Seller will be liable or responsible for providing any ownership documents of any personal property which may or may not be found on the property.
12. Deed Type and Transfer: The type of deed to be conveyed is a Limited/Special Warranty Deed, not a General Warranty Deed. If you have any concerns or questions please consult legal advice.
