1,560±SF Home in Gated 55+ Adult Community at 5439 Mariesa Avenue, West Palm Beach FL 33417 (Palm Beach County)
Auction: Auction of Partially Complete Home on Lake Greenwood SC, 2± Commercial Acres in Stone Mtn GA & 1,560±SF Home in W Palm Beach FL


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105:
By Order of US Bankruptcy Court Case # 07-69302-PWB
Online Only Absolute Auction of 1,560±SF Home in Master Planned Community
5439 Mariesa Avenue, West Palm Beach FL 33417 (Palm Beach County)

Bidding Opens: Wednesday, May 2 at 11:00 AM ET
Bid Deadline: Wednesday, May 9 at 11:00 AM ET
Inspection: Monday, May 7from Noon - 2:00 PM ET
**If you would like to inspect the property, you MUST submit your name, phone number and email address to us 24 hours in advance or you will not be allowed access to the community.
Sale Manager: Julian E (Jeb) Howell, 770-841-9924 or jeb@AMCbid.com or Chris Fisher, 386-690-1295 or chris@AMCbid.com
 
Please Note: It has come to our attention that the final court approval of the sale will not be obtained until June 6th. The auction contract has been modified to allow for 21 days after final court approval for buyer to close.
 
The property is on a .1 acre (4,225±SF) lot with the left portion of a 2BR/ 2BA duplex structure built in 1984. The 1,562±SF structure includes 1,246±SF of air conditioned space and the remainder is covered porches and storage. All windows except those in the addition have storm shutters, and lawn maintenance and sprinkler system are provided by the HOA and paid from HOA Fees. It is in the 988 home Cypress Lakes Subdivision and is known as Cypress Lake PL 6-A Lot 577.
Cypress Lakes is a gated 55+ adult community offering amenities such as an 18-hole private golf course & Pro Shop, tennis/ basketball courts, pool, miniature golf course, mens & ladies gyms, jacuzzi, and 500+ capacity auditorium/ banquet room.
Activities & Clubs include: Christian Club, Craft Club, Art Club, Ceramics, Karaoke & Dance Club, Dream Club, Jewish Culture Club, Showtime Club, Democratic Club, Water Aerobics, Tai Chi, Yoga, Wii Bowling, Men’s Bocci, Line Dancing, Shuffleboard, Bingo, Cards, & Poker.
 
Approximate Size of Rooms:
Dining Area:   7’8” X 7’4”
Kitchen:          12’ X 7’7”
Hall:                16’9” X 3’6”
Living/Dining  11’6” X 28’6”
Front BR:        11’6” X 12’3”
Master BR       11’6” X 14’9”
Hall Bath:       5’ X 8’4”
Master Hall:    3’7” X 8’ (not including his/her closets)
Master Bath:   8’3” X 4’10”
Patio:               10’9” X 8’6” Plus 11’ X 13’ air conditioned addition
 
HOA fees total $267.00 per month (master HOA fees $208.00 + plat 6 fees $45.00 + plat 6 paint fee $14.00)
Zoned RS Single Family Residential
Palm Beach County Parcel# 00-42-43-14-06-000-5770
2017 Tax Value $92,110
 
Julian E. Howell #BK3008009; FL Broker AMC# CQ1029847
 
 
 
TERMS AND CONDITIONS FOR FLORIDA ASSET:
AUCTION REGISTRATION: In order to register for the auction, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. The online registration form will need to be completed before online bidding is enabled. In addition, 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 bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to info@AMCbid.com at least 24 hours prior to the auction. Proof of funds consists of a copy, fax, or original of a current bank statement in bidder’s name showing sufficient funds for 20% earnest money deposit.
 
AUCTION INFORMATION: All available material and updates are posted to www.AMCbid.com. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 877-980-9565, or by visiting the website.
 
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 $100,000 bid, plus the 10% ($10,000) buyer's premium, equals the $110,000 final purchase price.

CONDUCT OF THE AUCTION: Online bidding will begin one week prior to 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 auctioneer.
 
GROUPED EXTENSION: This auction may use the grouped extension bidding feature, where it is placed with other assets in an extension group. Any bid within the last five minutes of bidding for an auction lot causes an automatic extension of bidding on that auction lot and on ALL auction lots. When 5 minutes passes with no more bidding on any of the lots, then bidding on all lots will close simultaneously.
 
EARNEST MONEY REQUIREMENT: Winning online bidders must deliver earnest money via wire transfer to the Escrow and Closing Agent account immediately following the auction (See Auction PSA), in the amount of twenty percent (20%) of the purchase price (calculated by adding the high bid amount plus a 10% buyer’s premium) Balance will be paid in full at closing. The successful bidder will be notified immediately following the closing of the auction and emailed the sale contract, to sign and return. If you have any questions, you may contact Heidi Googe at heidi@AMCbid.com or 404-821-8069.

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 websites 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 no later than 21 days from Final Court Approval, which is presently scheduled for Wednesday, June 6th, 2018.  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.
 
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, fax or hand delivery 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 48 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.
 
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 (877) 980-9565.
 
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.
 
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 purchaser of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Special Warranty Deed. Sale shall be closed at the offices of Allen Falk, 561-493-9200 (“Escrow and Closing Agent”), as noted in Auction Purchase & Sale Agreement, or as announced at the auction. 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; (3) 0% of closing fees charged by Closing Agent; and (4) Prorated property taxes as set forth in the Purchase and Sale Agreement and back taxes and HOA assessments 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 Closing Agent, loan closing costs, and purchaser’s attorney fees 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 Auctioneer 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 liable for system failures resulting in Buyer’s bid not being properly submitted. The Sellers 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 Auction PSA. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through. Please note that unless specifically noted otherwise, Auctioneers and Brokers represent the Sellers only.