Auction Information
Name Absolute Auction Prime 8.314 Acres Mooresville NC
Auctioneer
Type Online-Only Auction
Date(s) 7/13/2017 - 7/25/2017
Auction Date/Time Info
Ends at 4:00 PM 7/25/17
Preview Date/Time 8 am to 8 pm daily
Checkout Date/Time Closing on or before 45 days. See terms for more information.
Location
Buyer Premium 10% Buyer Premium added to final bid.
Description
ABSOLUTE AUCTION! Prime 8.314 Acres located just North of Hwy 150 on Highway 21 (Charlotte Highway) Selling both Parcels PIN: 4657-35-4329 and PIN: 4657-35-2096 together to the highest bidder. This wonderful property is currently Zoned HB. This Prime Piece of Real Estate offers Approx. 389' on Neelam Drive. Approx. 435' of Frontage on US Highway 21 in the 2500 Block and Approx. 200' Frontage on the Off Ramp Where you merge onto US Highway 150. ONLINE ONLY Terms and conditions listed.
Auction Terms and Conditions Purchase & Sale Contract: This property is offered under the terms provided in the contract for sale of real property. A copy of the sale contract is available at the end of this package and at www.assetservicescorporation.com A Valid MasterCard or Visa is required to register & bid. Auction End Times: This is a timed auction with the bidding ending at the time specified above. (Note: online auctions are subject to extended bidding due to the bidding activity at the closing of the auction. If a bid is placed within 10 minutes of ending, the clock will automatically extend the time for 10 minutes. This will continue until there is no more bidding within the last 10-minute period.) Example: If an auction is scheduled to end at 4:00 pm and receives a bid at 3:58, the clock will adjust itself to end the auction at 4:08. If someone bids at 4:06, the clock will reset to end at 4:16 etc. Once there is no more bidding for 10 minutes, the bidding will end. Terms: At the auction's conclusion, the successful bidder will be emailed a contract package, which will include the sale contract and any additional sale documents. These need to be properly executed and returned to Asset Services Corporation by email at dhorton@assetservicescorporation.com or delivered to our office at 122 Backstretch Lane, Mooresville, NC. Successful high bidders not executing and promptly returning their contract, along with their earnest money deposit within 24 hours of receipt will be considered in default and subject to a nonrefundable administrative fee as defined below. The successful bidder will deposit $ 50,000.00 in the form of cashier's check or bank wire transfer within 24 hours of receipt of the contract package. The remaining balance is due at closing as stipulated in the Contract for Sale of Real Property. Buyer must close within 45 days from the signing of the sale contract, which will be on or before September 8, 2017. Instructions for the wire transfer and/or cashier's check transmittal will be sent by email to the successful bidder(s). Purchaser will be responsible for all/any wire transfer fees. Buyer's Premium: A 10% buyer's premium will be added to the high bid to determine the contract purchase price. Example: if the high bid on the property is $1,000,000, buyer's premium is $100,000 for a total contract purchase price of $ 1,100,000 Auction Administrative Fee: In the event a winning bidder fails to submit the properly and fully executed Contract for Sale of Real Estate and related sale documents and deposit the earnest money as provided in the auction terms, the winning bidder will be charged an administrative fee of $2500.00 on the credit card provided at auction registration. Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Asset Services Corporation will reject the registration and bidding activity will be terminated for an unverified bidder. Bidder's responsibilities include, but are not limited to, agreeing to keep user name and password strictly confidential, as a bidder is responsible for ANY and all activity involving the account. Outbid /Back-In Notification: During the auction process, you can be outbid or knocked out of the leading position. At that time you will receive an Outbid Notification. To continue, you will need to bid again, at which time, you will receive another notification that you are the high bidder. If you wish to continue, it is your responsibility to bid again should you become knocked out of the high-bid position. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for the failure of any part of the bidding process or internet bidding. Property Information & Inspection: By registering and bidding in this auction, the bidder expressly acknowledges and warrants that he/she has personally inspected the property, has arranged for an agent to conduct an inspection of the property, or has waived the right to inspect the property. The bidder further agrees to abide by the terms and conditions as set forth herein. Asset Services Corporation (Auctioneer) is not responsible for any missing or incorrect information. Descriptions provided by the auctioneer are provided in good faith and are matters of opinion. It is the bidder's sole responsibility to conduct inspections to determine the condition of the property and feasibility of bidder's intended use. By placing a bid, this creates a contractual agreement by the bidder to purchase the property at the high-bid price plus buyer's premium and any additional fees included in the closing of the real property transaction. Title: Sellers will convey to the successful buyer(s) good and marketable title to said property by special warranty deed subject only to permitted encumbrances. Bid Confirmation: This property is being sold at absolute auction to the highest bidder. There will not be an upset-bid period on this auction. Real Estate Taxes: The 2017 real estate taxes will be prorated between buyer and seller as of the date of the closing. Personal Property: This auction excludes any personal property. Survey: A new survey is available in this bidder's packet and at our website or in person upon request. Copies will be available in an information box on the property. Possession: Shall be granted to the buyer at the closing. Auction Preview & Inspections: From 8:00 AM to 8:00 PM daily, the broker will be showing the property by appointment made by calling the numbers provided in the auction marketing. Agency Disclosure: In all transactions, Asset Services Corporation and Hall Auction & Realty are acting exclusively as agents for the seller and not as buyer's agent. Special Note: This property is being sold subject to any easements of record and any local, state, county or federal laws, ordinances, or regulations relating to zoning, environment, subdivision, occupancy use, construction, development of the said property, including existing violations of said laws, ordinances or regulations, and any other matters revealed in the new survey or an inspection of the property, and /or contained in public records. Sellers and brokers make no warranties as to the permitted uses of the said property. Broker Participation: A broker participation commission of 2% of the bid price is available to properly registered brokers whose prospect (bidder) purchases the real estate in this auction and closes in full. A broker participation form with complete instructions is available at www.assetservicescorporation.com. Broker must be currently licensed in North Carolina and must register a bidder within 24 hours prior to the client's submitting a bid, using the Asset Services Corporation broker participation form and in accordance with the guidelines set forth. Asset Services Corporation will not pay any commissions to brokers acting as principles. Please Read The Guidelines. Bidding Increments: $1000 - $5000 = $100 Increment $5000 - 10,000 = $250.00 Increment $10,000 - 25,000 = $500.00 Increment $ 25,000 - 50,000 = $1,000.00 Increment $ 50,000 - 75,000 = $1,500.00 Increment $ 75,000 - 100,000 = $2,000.00 Increment $ 100,000 - 200,000 = $2,500.00 Increment $ 200,000 - 400,000 = $5,000.00 Increment $ 400,000 -or greater = $10,000.00 Increment Auctioneer's Discretion: Asset Services Corporation has full discretion to modify date and time, order and details of the auction for any reason, including but not limited to technical issues, emergencies, and convenience for Asset Services Corporation and the sellers. Asset Services Corporation has the sole authority to resolve any bidding disputes as they may arise. Server & Software Technical Issues: In the event there are technical issues related to the server, software, or any other online auction related technologies, Asset Services Corporation, Auction Flex, and the seller reserve the right to extend bidding, continue the bidding, or close the bidding. The company providing the software, Asset Services Corporation and/or the seller shall NOT be responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Asset Services Corporation. Disclaimer: Asset Services Corporation and the seller have gathered this information from sources deemed reliable and believe it to be correct to the best of our knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. Bidders must rely solely upon their own investigations and inspections. The property is being sold AS IS with any and all faults. Please review all information supplied and seek appropriate assistance prior to bidding. This auction is being conducted by Asset Services Corporation located at 122 Backstretch Lane, Mooresville NC 28117 in conjunction with Hall Auction & Realty of 1326 Carter Mill Road, Elkin NC 28621 NCAL- 4703 & NCAL- 807, NCAF - C14873, NCREB - 220970, NCREB - 19703
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 50,000.00 1,000.00 USD
50,000.01 - 75,000.00 1,500.00 USD
75,000.01 - 100,000.00 2,000.00 USD
100,000.01 - 200,000.00 2,500.00 USD
200,000.01 - 400,000.00 5,000.00 USD
400,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 10% Buyer Premium added to final bid.
Payment Terms
$50,000 earnest money deposit required by winning bidder, made payable to Jones, Childers, and Donaldson Trust Account, applied to the purchase price at closing.
Closing will be within 45 days...see terms
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.