The following information is provided to you as a matter of convenience only, and no representation or warranty, expressed or implied, is made as to its accuracy or completeness.
Prospective Purchasers of the auction property are responsible for conducting such due diligence of their own as they consider appropriate, prior to bidding at auction sale. Please review all information supplied and seek appropriate assistance prior to bidding at auction.
All information contained within this Property Information Packet was derived from reliable sources and is believed to be correct, but is not guaranteed. Buyers shall rely entirely on their own judgment and inspection. All documents and information are being furnished to the bidder 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 bidder’s risk. These documents are being provided without any warranty or representation, express or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness.
All parties acknowledge and agree that the Property is being sold “AS IS” with any and all faults, the Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for Purchaser. Such repairs or replacements shall be the sole responsibility of Purchaser.
Purchaser and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is Taylor Auction & Realty, Inc., and has acted as agent for the Seller in this transaction. Taylor Auction & Realty, Inc. has not acted as agent in this transaction for the Purchaser.
Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical in order to produce the best offer to the Seller.
Announcements from the Auction block Website will take precedence over any previously printed material or any other oral statements made.
This is an online auction only, with the bidding ending on Thursday, Oct. 6, 2011 at 12:00 PM and 1:00 pm respectively.
4 Commercial Buildings @ 12:00 noon
12 lots @ 1:00 pm
This property is being offered “As Is, Where Is” with any and all faults. We encourage you to read through the Property Information Packet featured in the files section and the Terms carefully. We also encourage you to preview the property. The sale is not contingent upon your ability to acquire mortgage financing. You are expected to pre-qualify yourself with a lender before the auction. Don’t forget the 10% buyer’s premium and that 10% escrow deposit is due at contract signing.
Terms and Conditions of Online Only Real Estate Auction
10% Buyer's Premium added to hammer bid to determine contract price.
10% escrow deposit due at the close of Bidding/closing day of auction on contract price
Chancery Court to approve contracts
Closing Time: 45 days
Rents and Rental Agreements: Prorated at closing. Seller makes no warranties in regard to tenants rental agreements, Seller will only convey the agreements that are in place at the time of the closing.
Deed Preparation: Seller’s Responsibility
Taxes: Prior years and 2011 is Seller’s responsibility
Survey fees, title work, and other fees associated with the closing: Buyer’s responsibility
POSSESSION: Purchaser shall receive possession of property at closing.
RESTRICTIONS: Subject only to all City of Grenada, Mississippi, Grenada County and State of Mississippi laws, ordinances and regulations. Property is selling to all easements of record. Seller is placing no restrictions on the property.
CLOSING ATTORNEY: Jay Gore, III Gore, Kilpatrick and Dambrino, PLLC P.O. Box 901,Grenada, Ms 38901 firstname.lastname@example.org 662.226.1891
PROPERTIES ARE BEING OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS OF THIS AUCTION THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE TERMS FOR SALE OF REAL ESTATE, DO NOT BID.
Inspection: By appointment Call Benny or Ruthie Taylor @ 1.662.226.2080 or email us at email@example.com or firstname.lastname@example.org
Ultimate Choice Bidding Method:
The Goodwin Real Estate is being offered in two separate catalogs. Parcels 1 – 4 which are commercial buildings and lots will be offered and sold by the Total Dollar Amount. Parcels 1 – 4 will be featured in the catalog closing at 12:00 Noon.
BUYER’S PREMIUM: A 10 % Buyer’s Premium will be added to your final bid to equal the contract price.
Buyer’s Premium example for Total Dollar Amount Bids
Bid price - $100,000.00
+ 10% Buyer’s Premium – $ 10,000.00
= Total Contract price - $110,000.00
Escrow Deposit - $11,000.00
Buyer’s Premium example for surveyed acreage amounts:
The catalog that ends at 1:00 pm will feature Parcels 5 – 16 which are acreage parcels. Parcels 5 -16 will be sold per surveyed acres. For example: when you place a bid, the total you enter will be total dollars. Before you enter that total dollar amount, estimate what you want to give per acre. Example Parcel 10 – approximately 2 acres If you want to pay $3000 per acre, enter $6000.00 and the system will display the per acre amount of $3000.00.
For example if the auction ends with a total bid price of $10,000.00 and it surveys at exactly 2 acres your contract price will be as stated below
Bid price - $10,000.00 for exactly 2 acres
+ 10% Buyer’s Premium – $ 1,000.00
= Total Contract price - $11,000.00
However, if the acreage on Parcel 10 surveys at 1.75 acres and your last bid was $10,000.00 for 2 acres which is $5000.00 an acre your contract would reflect as the example below.
If the acreage came to 1.75 when surveyed:
Bid price – 1.75 X $5000.00 $8,750.00
+ 10% Buyer’s Premium – $ 875.00
= Total Contract price - $9,625.00
You only pay the amount of acres surveyed. Remember whether more or less than stated acreage, you only pay for the amount of surveyed acres. BUYER IS RESPONSIBLE FOR THE COST OF THE SURVEY. Recommended surveyor is Joe Sutherland whom is familiar with the property.
The commercial buildings and the parcels are being offered in two separate catalogs by the Ultimate Choice Bidding Method. The commercial buildings will close at 12:00 noon. The parcels will close at 1:00 pm.
To view an example of the Ultimate choice bidding method visit this link: This link is featured at the bottom of our home page.
You may bid on a combination of parcels or a single parcel. In Catalog for Parcels 1 – 4 you can select and bid on a combination of the commercial buildings and the lot or just one. In the catalog for Parcels 5 -16 – vacant acreage, you can bid on a combination of vacant lot parcels or just one also.
If a vacant lot or a building parcel is in a combination, the ultimate choice bid method will allow you to extract a single parcel from a combination subject to a specified increase over the current high bid.
Opening bids are entered on each parcel individually for a base price to begin the bidding of the tracts individually or to assist with combinations. This allows bidders to bid on any tract, group the tracts in any desired combination, or bid the whole property, subject to a specified increase over the current high bid.
There is an extended bidding feature at our website. Therefore, please be online before closing to bid further if activity extends the bids.
AUCTION END TIMES:
All online only real estate auctions are timed events and all bidding will close at a specified time unless bidding is placed in the last five minutes. Our online Auctions have an auto extend feature of 10 minutes. Any bid placed in the final 5 minutes of an auction, the auction ending time will be automatically extended 10 minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 pm receives a bid at 5:58, the close time will automatically extend to 6:08. The auto-extend feature remains active until no further bids are received within the 5 minute time frame. Our on-line auctions move quickly especially at the ending time! If you are interested in bidding, bid quickly. If you win you will be notified by email.
In order to have enough time to conduct authorizations, registration must be completed at least 24 hours in advance of the auction. If the day before an auction falls on a holiday or weekend, the deadline is the day before the holiday or the Friday prior to the auction.
In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder’s identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.
BUYER’S PREMIUM: A 10 % Buyer’s Premium will be added to your final bid to equal the contract price.
AUCTION CONTRACTS: Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Taylor Auction & Realty, Inc. within 24 hours of the end of the auction. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.
Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate.
Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.
LIQUIDATED DAMAGES: If the buyer chooses not to close within the stated time and no written extension has been granted by the seller, the buyer will forfeit his deposit. If such action occurs, Taylor Auction & Realty, Inc. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.
Taylor Auction & Realty, Inc.’s INVOLVEMENT IN THIS CONTRACT: Taylor Auction & Realty, Inc. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not acting as a buyer’s agent. Please sign and return Working with a Real Estate Broker before you bid acknowledging your understanding of agency. TAR reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in agreement hereto or as stated in listing agreement hereby made a part of.
BIDDER BROKER PARTICIPATION: A Broker Participation Form with complete instructions is available at www.taylorauction.com
DISCLAIMER: All information contained herein is believed to be correct to the best of the auctioneer's 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 conduct and 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.
SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.
Please contact us if you have any questions:
Taylor Auction & Realty, Inc.
Office: 662.226.2080/Cell No: 662.417.0397
Benny Taylor CAI AARE CAGA
Taylor Auction & Realty, Inc.
By bidding on any item, the bidder shows acceptance of the terms of the auction.
Taylor Auction & Realty, Inc. and their representatives are Exclusive Agents to the Seller.
The Houston Goodwin property is located on Hwy 8 West, Dowdle Road and Goodwin Road in Grenada, MS.