Fayetteville, GA: 2 Historic Homes on 2.07± Acres at 240 & 260 N Jeff Davis Drive, Fayetteville, GA 30214 (Fayette County)
Selling Separately
Excellent Redevelopment Site
Bid Deadline: Tuesday May 14, at 11:00 AM
Inspection: Friday, May 3 and Monday, May 13 at 12 Noon SHARP or By Appointment
Sale Manager: Larry Goff 678-296-3648 Larry@amcbid.com or Jeb Howell 770-841-9924 or Jeb@AMCbid.com
Bid Deadline: Tuesday May 14, at 11:00 AM
Inspection: Friday, May 3 and Monday, May 13 at 12 Noon SHARP or By Appointment
Sale Manager: Larry Goff 678-296-3648 Larry@amcbid.com or Jeb Howell 770-841-9924 or Jeb@AMCbid.com
Lot 101: 240 North Jeff Davis Drive, Fayetteville, GA 30214
The 2,838±SF building at 240 North Jeff Davis Drive, like many of the structures on the street, was built at the turn of the last century. It features 12 foot ceilings and ornate finishes on the main level, a small ballroom, a parlor, and a commercial kitchen and preparation area with a walk-in cooler as a staging area for events. The attic is accessed by a narrow stairwell as well as a large dumbwaiter which drops down into the hallway of the main level.
The 2,838±SF building at 240 North Jeff Davis Drive, like many of the structures on the street, was built at the turn of the last century. It features 12 foot ceilings and ornate finishes on the main level, a small ballroom, a parlor, and a commercial kitchen and preparation area with a walk-in cooler as a staging area for events. The attic is accessed by a narrow stairwell as well as a large dumbwaiter which drops down into the hallway of the main level.
The property has been extensively renovated in the past 10 years with modern appliances, HVAC system, kitchen and baths and was used with 260 North Jeff Davis Drive as an event facility until early 2023. All utilities are available to the site and it is zoned DMU-BC under the new Universal Development Ordinance adopted May 4, 2023 by the city of Fayetteville, which provides for a number of commercial uses including Event Facility. The lot has 160 feet of frontage and between 332 and 334 feet of depth.
The property was acquired by the bank through foreclosure on June 7, 2023. Current ordinances state that if the site has not been in use as an event facility for over a year, a conditional use application must be filed with Fayetteville Planning and Zoning to continue to use it as an event facility.
Fayette County Tax Parcel 052301054
2023 Fayette County Appraised Value $289,240; Assessed Value $115,696
2023 Fayette County Property Taxes $3,876.73 (paid)
2023 Fayette County Appraised Value $289,240; Assessed Value $115,696
2023 Fayette County Property Taxes $3,876.73 (paid)
Lot 201: 260 North Jeff Davis Drive, Fayetteville, GA 30214
The 2,267±SF building at 260 North Jeff Davis Drive was built ca.1920. Like 240 N Jeff Davis Drive, it has been extensively renovated with modern facilities in the past 10 years. It features 12 foot ceilings and ornate finishes on the main level, a luxuriously appointed bridal suite with an adjoining bathroom with a large jetted spa bathtub, as well as a room previously used for weddings, a full dining room, and an office on the main level. The upstairs, accessed by an ornate spiral staircase, includes an area with a beauty parlor on one side for the bride and attendants, and a game area with bar and sink for the groom and groomsmen.
The 2,267±SF building at 260 North Jeff Davis Drive was built ca.1920. Like 240 N Jeff Davis Drive, it has been extensively renovated with modern facilities in the past 10 years. It features 12 foot ceilings and ornate finishes on the main level, a luxuriously appointed bridal suite with an adjoining bathroom with a large jetted spa bathtub, as well as a room previously used for weddings, a full dining room, and an office on the main level. The upstairs, accessed by an ornate spiral staircase, includes an area with a beauty parlor on one side for the bride and attendants, and a game area with bar and sink for the groom and groomsmen.
The property was previously used with 240 North Jeff Davis Drive as an event facility until early 2023. All utilities are available to the site and it is zoned DMU-BC under the new Universal Development Ordinance adopted May 4, 2023 by the city of Fayetteville, which provides for a number of commercial uses including Event Facility. The lot has 112 feet of frontage and between 325 and 332 feet of depth.
The property was acquired by the bank through foreclosure on June 7, 2023. Current ordinances state that if the site has not been in use as an event facility for over a year, a conditional use application must be filed with Fayetteville Planning and Zoning to continue to use it as an event facility.
Fayette County Tax Parcel 052301053
2023 Fayette County Appraised Value $316,470; Assessed Value $126,696
2023 Fayette County Property Taxes $3,540.14 (paid)
2023 Fayette County Appraised Value $316,470; Assessed Value $126,696
2023 Fayette County Property Taxes $3,540.14 (paid)
The homes are accessed by three joining driveways entering from 240 & 260 N Jeff Davis as well as a side driveway from Carver Street, which bounds the north side of the property.
Both buildings are extensively furnished with vintage and reproduction Victorian furniture. The very deep back yards are decorated with a variety of wrought iron pieces and furniture, as well as a gazebo and a large three-peaked tent with tables and chairs to host sizable outdoor events. All outdoor items as well as indoor furniture will be sold following the real estate auction as posted to our website. If you purchase one or both homes, you will have the opportunity to bid on furniture or equipment/ accessories at the personal property auction.
Terms: Must register and submit proof of funds to bid, 10% Buyers Premium added to bid to determine Purchase Price, Earnest Money Deposit of 10% of Purchase Price within 24 hours of end of auction, sign as-is contract, 2% broker co-op, close in 30 days.
Julian E Howell, Auction Management Corporation GAL#2503
AUCTION REGISTRATION: In order to register for the auction, you must confirm that you have done your own pre-registration inspection or plan to inspect the property prior to the auction's conclusion. Additionally, you must confirm that you have reviewed the provided materials including these Terms, the Title Commitment, Purchase and Sale Agreement, and all due diligence documents posted for the property. You must provide Proof of Funds showing that you have sufficient funds to cover the required 10% Earnest Money deposit payment. A current bank statement in the bidder's name, with the account number blacked out, should be faxed to 770-980-9383 or emailed to Info@AMCbid.com. The online registration, written agreement to the Terms, and submission of Proof of Funds will need to be completed before online bidding is enabled. Last minute registration is not guaranteed to be processed and it’s recommended to provide all documentation 24 hours in advance of the auction deadline. There will be NO opportunity for a post auction property inspection or due diligence period, prior to closing.
AUCTION INFORMATION: The auction information office is located at 1827 Powers Ferry Road, Building 5, Atlanta, Georgia 30339. Phone (770) 980-9565, fax (770) 980-9383, or email Info@AMCbid.com. All available material and updates are posted to our website. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 770-841-9924, or by visiting the website at www.amcbid.com.
ATTORNEY REVIEW: We recommend that all bidders have the PSA reviewed by the bidder’s attorney prior to bidding. The terms of this sale are governed by the terms of the Agreement.
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 $500,000 bid, plus the 10% ($50,000) buyer's premium, equals the $550,000 final purchase price.
INSPECTION: Preview is by Appointment Only on Monday, April 29, at 12 NOON ET SHARP. Please call or email for Inspection Appointments. The property is being offered for sale in its existing condition subject to the terms of the Agreement. The Purchaser may not rely upon disclosures, representations or warranties other than those provided in the Agreement. We strongly recommend you thoroughly inspect the property prior to the auction. Those inspecting the property assume all risks associated with any inspection.
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 $500,000 bid, plus the 10% ($50,000) buyer's premium, equals the $550,000 final purchase price.
INSPECTION: Preview is by Appointment Only on Monday, April 29, at 12 NOON ET SHARP. Please call or email for Inspection Appointments. The property is being offered for sale in its existing condition subject to the terms of the Agreement. The Purchaser may not rely upon disclosures, representations or warranties other than those provided in the Agreement. We strongly recommend you thoroughly inspect the property prior to the auction. Those inspecting the property assume all risks associated with any inspection.
CONDUCT OF THE AUCTION: 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 the auctioneer.
EXTENDED BIDDING: This auction uses an extended bidding feature. Any bid within the last five minutes of bidding (on Thursday, May 2, 2024 at 12 noon ET) causes an automatic 5 minute extension of the bidding. When 5 minutes passes with no more bidding, bidding will close with the high bidder being declared the winner. The auction will feature a group extension feature. Any bid placed on either of the houses starting at 12 noon extends the bidding on both houses for 5 minutes. If you wish to purchase both houses, you will therefore have the opportunity to bid on each of them as the auction gets extended.
EARNEST MONEY REQUIREMENT: Winning online bidder (Buyer) must deliver earnest money via wire transfer 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). Escrow Agent, James Ottley, is also the Closing Agent. Balance will be paid in full at closing. The successful bidder (Buyer) will be notified immediately following the closing of the auction and emailed the PSA to sign and return.
EXTENDED BIDDING: This auction uses an extended bidding feature. Any bid within the last five minutes of bidding (on Thursday, May 2, 2024 at 12 noon ET) causes an automatic 5 minute extension of the bidding. When 5 minutes passes with no more bidding, bidding will close with the high bidder being declared the winner. The auction will feature a group extension feature. Any bid placed on either of the houses starting at 12 noon extends the bidding on both houses for 5 minutes. If you wish to purchase both houses, you will therefore have the opportunity to bid on each of them as the auction gets extended.
EARNEST MONEY REQUIREMENT: Winning online bidder (Buyer) must deliver earnest money via wire transfer 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). Escrow Agent, James Ottley, is also the Closing Agent. Balance will be paid in full at closing. The successful bidder (Buyer) will be notified immediately following the closing of the auction and emailed the PSA to sign and return.
ESCROW AND CLOSING AGENT: Sale shall be closed at the offices of Escrow and Closing Agent, James Ottley, Attorney at Law, Stout Kaiser, Jottley@stoutkaiser.com, (770) 349-8214, 4675 N Shallowford Rd Suite 200, Atlanta, GA 30341, as disclosed in the PSA. James Ottley has procured the title commitment, which is posted to AMCbid’s website, and will serve as the basis for conveyance of title to the Buyer. James Ottley will act as Escrow Agent, and be reimbursed for that service by Buyer at closing, as well as being reimbursed by Buyer for the title commitment.
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. A form Auction PSA is available at our website 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. Earnest Money must be in the form of wire transfer only. Closing must occur by Thursday, June 13, 2024. 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. Escrow Agent, James Ottley, is also Closing Agent.
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.
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.
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.
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, or hand deliver 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 24 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. A Broker cannot represent an immediate family member.
PROPERTY OFFERED SUBJECT TO SELLER CONFIRMATION: Bid is subject to seller confirmation, and may be subject to Seller approval if below Seller’s reserve price.
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 Buyer of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Limited Warranty Deed. 10% Buyers Premium will be held by Escrow Agent on Seller’s behalf as a part of the 10% Earnest Money and will be paid by Seller to Auctioneer at Closing. No other closing expenses will be paid by Seller. All other closing costs, including but not limited to escrow fees, survey, title examination, title insurance, transfer taxes, 100% of closing fees charged by Closing Agent, loan closing costs, and Buyer’s attorney fees (should Buyer elect to engage another attorney to represent Buyer) 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 Auctioneers 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 or Seller liable for system failures resulting in Buyer’s bid not being properly submitted. The Seller does 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. If selling with reserve, Auctioneer has the right to bid on Seller’s behalf up to the reserve amount established by Seller. There is no obligation on the part of the Seller to accept any backup bids in the event the high bid falls through. The Seller and Auctioneer and their agents assume no liability for inaccuracies, errors or omissions in the auction marketing materials. ALL ACREAGE, SQUARE FOOTAGE, DIMENSIONS, AND TAXES IN THIS AND OTHER MARKETING MATERIALS ARE APPROXIMATE. This offering may be withdrawn, modified or canceled without notice at any time.
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 Buyer of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Limited Warranty Deed. 10% Buyers Premium will be held by Escrow Agent on Seller’s behalf as a part of the 10% Earnest Money and will be paid by Seller to Auctioneer at Closing. No other closing expenses will be paid by Seller. All other closing costs, including but not limited to escrow fees, survey, title examination, title insurance, transfer taxes, 100% of closing fees charged by Closing Agent, loan closing costs, and Buyer’s attorney fees (should Buyer elect to engage another attorney to represent Buyer) 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 Auctioneers 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 or Seller liable for system failures resulting in Buyer’s bid not being properly submitted. The Seller does 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. If selling with reserve, Auctioneer has the right to bid on Seller’s behalf up to the reserve amount established by Seller. There is no obligation on the part of the Seller to accept any backup bids in the event the high bid falls through. The Seller and Auctioneer and their agents assume no liability for inaccuracies, errors or omissions in the auction marketing materials. ALL ACREAGE, SQUARE FOOTAGE, DIMENSIONS, AND TAXES IN THIS AND OTHER MARKETING MATERIALS ARE APPROXIMATE. This offering may be withdrawn, modified or canceled without notice at any time.
SELLER’S AGENT: Auction Management Corporation and all licensees employed by or associated with Auction Management Corporation who are involved with this auction, represent the Seller in this real estate transaction.
