In order to register for the auction, you must have:
1) Pre-inspected the property and must confirm that you have done your own inspection prior to registration.
2) You must provide proof of funds from your bank that you have sufficient funds to cover the required earnest money down payment in order to obtain a Sealed Bid Submission Form. This may be accomplished by emailing to email@example.com at least 2 hours prior to the auction bid deadline. Proof of funds consists of a copy, fax, or original of a current bank statement in bidder’s name showing sufficient funds for 10% earnest money deposit. Alternative proof of funds verification subject to Seller approval.
3) Accompany your Sealed Bid Submission Form with a Certified Check made out to Ganek PC with your name as the remitter. If your bid is accepted as the winning bid this check will be delivered to and deposited by Ganek and credited toward your earnest money deposit. The remaining deposit funds must be wired within 24 hours following the auction.
Written sealed bids must be submitted on the Sealed Bid Submission Form by mailing or
delivering to Auction Management Corporation, C/O Amy Martin Auctioneer, 1827 Powers Ferry Rd. Bldg #5, Atlanta, GA 30339 or emailing to amy@AMCbid.com by Auction deadline. Forms may also be submitted by Adobe sign, by request. Bid forms should include bidder’s name(s), address, phone number, email and amount of bid. It is the bidder’s sole responsibility to ensure that their Sealed Bid Submission Form is received by Auction Management Corporation, C/O Amy Martin Auctioneer, before auction closing. No verbal bids will be accepted for sealed bids. Bid forms should be accompanied by a certified check made out to Ganek PC with bidder shown as remitter for $5000.00 as a bid deposit. Auctioneer will return Bid Deposits for unsuccessful bids to bidders within 48 hours of the conclusion of the Sealed Bid Auction (or by March 4th).
With prior notification by bidder to Auctioneer, Checks and Sealed bids will also be accepted from 11am until 1:30 pm on the day of the auction at the auction property -1101 Hudson Rd Warm Springs, GA. Contact Auctioneer to arrange meeting at amy@AMCbid.com or 404.734.3606
Sealed Bids Process:
C. Bidder Participation, Terms & Conditions
Anyone submitting a bid acknowledges they are making a legal and binding offer to purchase the subject property and agree to be bound by the Terms and Conditions as set herein. This acceptance of terms will also include a live Auction event, if needed. All persons participating in this auction must be at least 18 years or older.
A ten percent (10%) buyer’s premium will be added to the accepted offer amount (bid) to form the contract price.
There are no contingencies, including financing. As is, where is with all faults, if any. No warranty as to condition or suitability for any purpose is expressed or implied.
Buyer shall solely rely on their own information, judgement and inspection of the property and records. Buyers may conduct independent inspections with seller’s permission prior to the end of auction.
Buyers pay all closing costs and any other costs pertaining to this sale.
Closing shall occur within 30 days of binding date on sales contract.
Closing Attorney and Escrow agent will be GANEKPC, attn Mimi McCain, Phone: (678)606.9868 (PonceyHiClosing@titlelaw.com&MimiM@titlelaw.com).
Seller will pay pro-rated taxes at closing.
LEAD BASED PAINT DISCLOSURE: Since the property was built prior to 1978, lead base paint may exist. This property is selling on an “as-is” basis. If concerned, prospective bidders should conduct ny risk assessments or inspections prior to bidding. At the conclusion of the auction, the successful bidder will be asked to sign a form waiving their right to conduct any assessments or inspection of lead base paint.
Bidder understands that Auction Management Corporation is exclusively representing the SELLER in the sale of this property.
Auction Management Corporation: Firm RE License: #H-20307, Au C002503
Amy Martin Auctioneer 404-734-3606 Re License#341898, GAL #2837
1827 Powers Ferry Rd. Bldg #5, Atlanta, GA 30339
Final Buyer’s Note: Property is being sold “AS IS, WHERE IS” with no warranties expressed or implied. Buyers should carefully verify all aspects of this offering. Property is subject to prior sale. Bid increments in Live Auction are at Auctioneer’s discretion. All sales are final.
AUCTION INFORMATION: All available material and updates are posted to www.AMCbid.com. Due diligence materials, Broker Registration forms, and other information may be obtained by visiting the website.
SEALED BID SUBMISSION FORM: Is available at https://www.amcbid.com/auctions/detail/warm-springs-ga-3br-2ba-sfr-and-custom-log-cabin-on-62.7-acr-bw45822 click on the Documents Tab and the document tab to download.
ATTORNEY REVIEW: We recommend that all bidders have the Sealed Bid PSA, also available on our site in the documents tab, reviewed by the bidder’s attorney prior to bidding. The terms of this sale are governed by the terms of the Agreement.
INSPECTION: Property may be inspected on Sunday, February 23 from 2:00PM - 4:00PM or by appointment prior to the auction. No invasive tests are allowed, and parties must pay to repair any damage caused to Property caused during inspection.
BUYER'S PREMIUM: Property will be sold with an 10% Buyer’s Premium. The bid amount plus Buyer's Premium equals the final purchase price. For example, a $500,000 Winning Bid plus the 10% Buyers Premium produces a Total Purchase Price of $550,000 ($500,000 Bid Plus $50,000 BP)
CASHIER’S Or CERTIFIED CHECK FUNDS ARE REQUIRED: A cashier’s or certified check in the amount of $5,000, as a required Bid Deposit, is required to bid. Checks are to be made payable to Ganek PCwith bidders name as remitter.
BIDDING REQUIREMENTS: All bids must be submitted on the Sealed Bid Submission Form supplied in the Documents Section. Any bid submitted that does not conform may be rejected at Seller’s option for the bid's non-conforming elements. Any proposed modifications shall be submitted through Auctioneer. The deadline for a bidder's submission of proposed non-conforming modifications to the Agreement shall be two
(2) business days prior to the auction bid deadline. The Auctioneer will respond with the Seller’s acceptance or rejection of the proposed modification no later than one (1) business day prior to the auction bid deadline.
BID CONSIDERATION: Bids will be given priority based on the following criteria:
1. Highest purchase price.
2. Bids that conform to the terms and conditions of the Agreement.
No negotiations shall take place with parties other than the participants of the sealed bid program during the Consideration Period. Seller reserves the right, in its sole and absolute discretion, to reject any and all bids which do not conform to the form PSA. If Winning Bid is acceptable to Seller, Seller reserves the right to accept the offer.
BID AWARD: All bids are subject to Seller acceptance on or before the conclusion of the Consideration Period, which is March 2nd, 2020 at 5:00 PM. Bids must remain irrevocable by the bidders during this time. All bidders will be notified of the Seller’s decision in writing, with notice delivered by email, facsimile, overnight carrier, personal delivery or certified mail. Failure to notify the bidder does not constitute acceptance by the Seller, but converts the bid to a revocable offer.
DEPOSIT REQUIREMENT: Upon Seller acceptance of Sealed Bid PSA, the successful bidder (Purchaser) must deliver within one business day earnest money( less the $5000 deposit) via wire transfer to Escrow and Closing Agent equivalent to ten (10%) of the Purchase Price (Bid Amount Plus Buyer’s Premium). Balance of Purchase price will be paid in full at closing. Escrow and Closing Agent is Mimi McCain, Esq. (678) 606-9868 GANEK WRIGHT MINSK PC at 675 N. Highland, Suite 400 Atlanta, Georgia 30306.
Winning bidder will be notified immediately following Seller acceptance no later than Monday, March 2nd and electronically delivered the executed PSA. Escrow and Closing Agent wiring instructions will also be provided for transmittal of the Earnest money. Earnest Money for a Winning Bidder (Purchaser) must be in the form of wire transfer only.
PURCHASING AND CLOSING: Purchaser shall execute a Sealed Bid PSA for the property immediately after being declared the successful bidder by Auctioneer. The Sealed Bid PSA can be accessed by downloading, signing and returning the Agreement to Be Bound By Terms Document. The Sealed Bid PSA which Purchaser must sign contains an acknowledgment that Purchaser 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 SEALED BID PSA OR ANY EXHIBITS ATTACHED THERETO, AND PURCHASER WILL BE OBLIGATED TO EXECUTE AND DELIVER SAID SEALED BID PSA AT SEALED BID DEADLINE. Provided, however, Seller reserves the right to modify or amend said Sealed Bid 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.
Closing must occur no later than Thursday, March 27th, 2020. Balance of purchase price will be paid in full at closing. Purchaser not closing within the contractual time period to close may forfeit his/her earnest money deposit.
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.
AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at firstname.lastname@example.org or (770) 980-9565.
TITLE: Property sold is subject to all matters of record, including, without limitation, recorded easements, existing roads and planned roads, power line and other utility easements, ingress and egress easements, and other easements of record.
CUVA: This land is currently under a Conservation Use Value Assessment (CUVA) exemption established in 2012.Purchaser must assume CUVA or pay all penalties for breach of covenant. See document section for page with detailed description of requirements. here is the link to the law governing conservation use and transfer
Meriwether county tax office 706-672-4222
BROKER PARTICIPATION INVITED: A broker commission of twenty percent (20%) of Auctioneer’s commission 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, fax or hand delivery the prospect’s name and address on the Broker Registration form available as a download at the AMC website listing for this asset 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 date. Broker must also be present with their prospect during bidding and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction. In the event a Prospect makes initial contact with Auctioneer, a Broker Registration will be disqualified. No lease commissions shall be paid by Seller.
PURCHASER'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 purchaser 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. Sale shall be closed at the designated office of Mimi McCain, Esq. (678) 606-9868 GANEK WRIGHT MINSK PC at 675 N. Highland, Suite 400 Atlanta, Georgia 30306., (“Escrow and Closing Agent”), as noted in Auction Purchase & Sale Agreement, or as announced at the auction. Closing may occur remotely through overnite, email, and wire transfer. Only the following sale closing costs will be paid by Seller: (1) Commissions or brokerage fees to auctioneer and/or cooperating Brokers as set forth in separate agreement with auctioneer, and as established in these Terms and Conditions; (2) reasonable title corrective expenses, in Seller’s sole determination and (3) Prorated property taxes as set forth in the Purchase and Sale Agreement and back taxes due, if any. All other closing costs, including but not limited to surveys, title examination, title insurance, transfer taxes, 100% of closing fees charged by Escrow and Closing Agent, loan closing costs, and Purchaser’s attorney fees are at the expense of the Purchaser.
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 Seller or Auctioneer to update this information. ALL ANNOUNCEMENTS MADE AT THE SEALED BID DEADLINE TAKE PRECEDENCE OVER ALL ADVERTISING. The Seller and Auctioneer do 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 Sealed Bid PSA. Property is sold subject to Seller confirmation. There is no obligation on the part of the Seller to accept any backup bids in the event the high bid falls through.
Please contact the Sale Manager, Amy Martin, for more information at 404-734-3606 or Amy@AMCbid.com