START: 3/7/2017 4:00 PM END: 4/22/2017 10:00 AM
AUCTION TYPE: Personal Property Auction AUCTIONEER: Dwight Tankersley
3900 Sf home on 83.4 acres
live & online bidding
Property to be offered in 3 tracts. Tract 1 with home is 39 acres.
Tract 2 with Barn is 6.4 acres and tract 3 is 38 acres. Live Auction
starts at 10:00 am on April 22nd. Bid Online in Real Time during the
auction or Pre-Bid online. Open House/Preview on Thursday April 6th
from 2-5 pm and Sunday April 9th 2-5pm or Preview by appointment.
Mark Hampton AAL# 5114 (256) 565-5907
Dwight Tankersley AAL# 5325 (256) 345-7831
Offered in conjuction with
JA Sasser of Avast realty (256) 318-2373
AUCTION TERMS AND CONDITIONS
PROPERTY TO BE AUCTIONED:
583 Bell Point Road, Laceys Spring, Alabama 35754
. SELLER(S): William B. Tatum, as Administrator, with the
will annexed, of the Estate of Mary Yeager Wilson, deceased, Madison
County, Alabama, Probate Court, Case No. 61624
3. DATE AND LOCATION OF AUCTION:
Live Auction starts at 10:00 am on April 22nd. Bid Online in Real Time
during the auction or Pre-Bid online. Open House/Preview on Thursday April
6th from 2-5 pm and Sunday April 9th 2-5pm or Preview by appointment.
4. TERMS OF SALE:
A ten percent (10%) buyers premium will be charged and added to the
Buyers bid price to determine the purchase price for all property sold at
auction. The purchase price of the property, including the buyers premium,
will be payable in cash or certified funds as follows: (a) earnest money
based on ten percent (10%) of the purchase price will be payable within 24
hours of the close of the auction; and (b) the balance of the purchase
price will be payable at the Closing of the sales transaction. The
following is an outline of the terms of sale:
OUTLINE OF TERMS OF SALE
High Bid Amount $___________________
Buyers Premium (10%)+ $___________________
Purchase Price $___________________
Earnest Money (10%)- $___________________
Balance Due At Closing $___________________
The Buyers obligation to close the sales transaction will not be
contingent on Buyers ability to obtain financing. The earnest money will
be nonrefundable, except as otherwise provided in the Real Estate Sales
Contract, hereinafter described. If you are the High Bidder on any of the
property offered for sale, you will sign an auction sales contract, lead
paint disclosure, agency disclosure and buyers net sheet at the conclusion
of the auction.
. CONDUCT OF AUCTION. All announcements made from the
auction block will take precedence over any previous written or oral
statements. United Country reserves the right to announce additional Terms
and Conditions of the auction and sale prior to or during the auction. All
bidders will be bound by announcements made at the auction, even though a
bidder may not have heard the announcements. The Real Estate Sales Contract
for the purchase and sale of the property shall represent the final terms
In the event of a dispute over any matter at the Auction, United Country
shall have the absolute and sole right to make the final decision to
resolve the dispute and will also have the right to either accept or reject
the final bids or re-open the bidding. Increments of bidding are at the
direction of United Country and the Auctioneer conducting the auction.
United Country reserves the right to accept absentee bids in advance and
place those bids during the course of bidding. United Country reserves the
right to accept phone bids and/or absentee bids (arrangements must be made
prior to auction date). United Country Reserves the right to cancel the
auction or remove any property or tract from the auction.
The property shall be sold at public auction to the highest bidder,
subject to Seller reporting the sale to the Probate Court of Madison
County, Alabama, and the said court confirming the sale in all respects
and authorizing Seller to convey to Buyer by statutory warranty deed
all right, title, interest and claim which the decedent, Mary Yeager
Wilson, had, held, owned and possessed in the Property at the time of
Auctioneer reserves the right to cancel, postpone or withdraw the
property before or up to the start of the auction.
The auctioneer reserves the right to offer this property in any manner and
reserves the right to sell the property in any manner he so desires up to
the start of the auction. The auction does not start until the auctioneer
accepts the first bid, day of the auction.
. ORDER OF AUCTION. Tracts will be offered as individual
tracts, combinations of tracts, and as a whole. They will be bid by the
acre. The size/acreage of the property was taken from the Morgan County
Revenue Commissioners tax records. The price will not be adjusted based on
any survey now or in the future. The Auctioneer may at his discretion, when
selling tracts, offer to the high bidder and then other bidders the
privilege of selecting any of the remaining tracts at the last high bid on
a first come first serve basis, if he so desires. When all 3 tracts have a
high bid the property will be offered in combinations and as a whole. The
opening bid will be a $100 per acre increase of the total per acre price
rounded up to the nearest whole dollar amount. The probate court of Madison
County must confirm the final bid price.
. BACK-UP BIDS. An unsuccessful bidder may make a back-up
bid to purchase the property in the event of default by the high bidder. A
Back-up Bidder Form for that purpose will be provided by United Country,
through its representatives at the request of the unsuccessful bidder.
. CLOSING. The sale of the property shall be closed and
the deed delivered on or before 30 days from seller reporting the sale to
the Probate Court of Madison County, Alabama, and said Court confirming the
sale in all respects and authorizing Seller to Convey to Buyer by statutory
warranty deed all right, title, interest and claim which the decedent, Mary
Yeager Wilson, had, held. owned and possessed in the property at the time
of her death. The buyer will select the closing attorney.
. CLOSING COSTS AND PRORATIONS. All costs associated with
the Closing of the transaction evidenced hereby shall be paid by the buyer.
Ad valorem property taxes for the then-current tax will be pro-rated
between the Seller and Buyer as of the date of the Closing. All property
taxes applicable to the property for prior tax years remaining unpaid at
the time of the Closing shall be paid in full by Seller prior to or at the
time of the Closing. Any tax arising from a change in use of the property,
which results in rollback tax shall be borne by Buyer.
10. CONDITION OF PROPERTY.
The property shall be sold AS IS, WHERE IS and WITH ALL FAULTS AND
DEFECTS. Seller and United Country make no representations or warranties,
express or implied, regarding the fitness, suitability or condition
(environmental, structural or otherwise) of the property. Seller and United
Country shall have no duty, liability, obligation and/or responsibility to
Buyer or any other person or entity regarding the fitness, suitability or
condition (environmental, structural or otherwise) of the property. Seller
disclaims any and all warranties as to the status of mineral rights
affecting the property, environmental conditions, availability of
utilities, zoning, accesses to the property, or quantity of land in the
. PROPERTY INSPECTION. It is the Buyers responsibility to
inspect the property prior to the auction. Buyers must rely on their own
information, judgment, inspections and any public records concerning the
property. The failure of the Buyer to be fully and adequately informed as
to the condition of the property will not constitute grounds for adjustment
of the price or withdrawal of the buyers bid for the property, or return
of any earnest money paid in connection with the sale of the property.
. CONVEYANCE. Seller shall convey to the Buyer of any
property sold at auction good and marketable fee simple title to such
property by Statutory Warranty Deed subject only to (i) current city, state
and county ad valorem taxes not yet due and payable; (ii) easements for the
installation or maintenance of public utilities serving the property; (iii)
easements and restrictions of record; (iv) rights of way for public roads;
(v) subdivision regulations and zoning ordinances of applicable
governmental entities; (vi) matters of survey, and (vii) such other
matters, if any, as may be acceptable to the Buyer, all of which items
collectively are the Permitted Exceptions.
13. TITLE INSURANCE.
Title Insurance will be at the Buyers expense.
Seller and United Country (Or United Countries associated salespersons and
the closing attorneys) make no representation relative to (a) the legal and
tax consequences of the purchase or ownership of the property; (b) the
availability of utilities or sewer service; (c) the environmental status of
the property; (d) the investment or resale value of the property; (e) the
quantity of land comprising the property; (f) the status of the title of
property; (g) the status of mineral rights to the property: or (h) matters
of survey affecting the property.
15. REAL ESTATE SALES CONTRACT.
Real estate sales transactions arising out of the auction shall be
evidenced and governed by the Real Estate Sales Contract attached hereto,
which shall be executed by Seller and the Buyer of the property at the
auction. The terms of the Real Estate Sales Contract are controlling in the
event of any perceived inconsistency between its terms and any statements
in these Auction Terms and Conditions or any advertisement or other
material concerning the property or the auction. It is therefore
recommended that all bidders carefully review the attached Real Estate
Sales Contract before the commencement of the auction.
16. BIDDER REGISTRATION.
All bidders must register with United Country before the auction. By
registering in person at our office or online bidder acknowledges receipt
of the terms and conditions.
. BROKER PARTICIPATION. A qualified, duly licensed Alabama
real estate broker whose prospect is the successful bidder at the auction,
and who closes the sale of the property, will be entitled to receive a
commission based on 2% of the prospects opening bid for the property,
excluding the buyers premium, and 1% of the difference between the
prospects opening bid and the prospects successful bid for the property,
also excluding the buyers premium. To qualify for the commission, a broker
must first register the prospect, using the attached BROKER PARTICAPATION
REGISTRATION FORM, printed on the brokers letterhead, mailed, faxed or
hand delivered to United Country. The registration must include the
signatures of the broker and prospect, the brokers real estate license
number. The registration must be received by United Country at least 48
hours prior to online bidding ending. The registration must be received by
United Country before the buyer registers to bid online. The buyers first
bid online will be considered their opening bid. The buyer must place their
opening bid online at least 24 hours before the scheduled close of bidding.
The buyer/bidder will still need to complete the online registration
process. UNDER NO CURCUMSTANCES WILL BROKER REGISTRATION BE ALLOWED ON THE
LAST DAY OF BIDDING FOR THE AUCTION. In addition, to qualify for a
commission, must have shown the property to the prospect before the
auction, and the sale of the property to prospect must close. A BROKER
CANNOT ACT AS A PRINCIPAL AND BROKER ON THE SAME TRANSACTION.
. AGENCY. United Country Auctions is acting exclusively as
an agent for the Seller. United Country Is not acting as an agent for the
buyer with respect to any transaction contemplated under these terms and
conditions. United Country has the exclusive right to list and sell the
property put up for sale at the auction. All negotiations concerning the
sale of the property must be conducted through United Country Four Oaks