Name ABSOLUTE REAL ESTATE AUCTION
Auctioneer Wester Auction & Realty, Inc. (NCAL 7026)
Type Online-Only Auction
Date(s) 6/24/2017 - 8/31/2017
Bidding ends on July 31, 2017 at approximately 8:00 PM.
Preview Date/Time All previews will be BY APPOINTMENT. Call Randy Wester at 984-500-9395 or John Martin at 919-522-9802
Checkout Date/Time See terms and conditions
Location 109 N Queen Street
KINSTON, NC 28501
Buyer Premium Each high bid will have a 5% BP added
Description
We are selling (2) commercial buildings in Lenoir County, NC and a 10 acre tract, ready for development, in Harnett County. Each lot will have a starting price, well below the tax and estimated value. Once the first bid is received, we guarantee to sell the property for the best and final bid. We will not accept any bid below the posted starting bid.
You must read the terms and conditions for this online auction. When you register to bid, you will be required to accept the terms and conditions, and will be required to honor all terms and conditions. AGENCY: In the interest of full disclosure, the listing Broker hereby discloses a vested interest in the properties being sold. The listing Broker and all employees of Wester Auction & Realty, Inc. are acting as Agents for the Seller(s). We recommend that all Bidders contract with a "Buyer's Agent" to assist with the transactions. PROPERTY CONDITION: Each property is offered free and clear of all liens and encumbrances. Each property will be sold with a guaranteed transfer by General Warranty Deed. All mineral and timber rights for property 3 (Harnett County) transfer with the sale. The rights to any potential community redevelopment funds that may or may not be available for properties 1 & 2 (Lenoir County) transfer to the new owner at closing. The properties are sold in AS IS condition, subject to governmental restrictions and current zoning. EARNEST MONEY DEPOSIT: Each registered Bidder will be required to provide a credit card at registration. This card will be used to post a 5% NON-REFUNDABLE earnest money deposit on each property purchased by the successful bidder. This NON-REFUNDABLE deposit will be charged to the successful bidder's credit card immediately after all bidding has concluded. If the deposit is declined, the successful bidder will receive ONE telephone call to the number given at registration. The successful bidder will be required to give another card that will accept the deposit charge. If the successful bidder fails to answer or cannot provide an acceptable card, the sale will be voided and the property will be offered to the next highest Bidder. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. TIMING OF BIDS: This is a timed auction event. Bidding on the first property will close at approximately 8:00 PM on July 31, 2017. Any bid placed in the final 5 minutes on any property, will automatically extend the bidding on that property for 5 additional minutes from the time the bid was placed. This additional time will give all prospective Bidders the opportunity to bid again. All properties will sell individually and will not be combined in any manner. If you want properties 1 & 2 (Lenoir County), it is imperative that you stay alert on BOTH lots, and buy them individually. PROPERTY INSPECTION(S): It is the exclusive responsibility of each Bidder to conduct inspections to determine the condition and feasible use for each property. Wester Auction & Realty, Inc. is not responsible for any missing or incorrect listing information. All information provided by Wester Auction & Realty, Inc. is done in good faith, but with NO GUARANTEE of accuracy or completeness. CONTINGENCIES: These properties are NOT being offered subject to the Buyer's ability to obtain financing, the sale of another property, appraisal, survey or inspections of any kind. This is a CASH SALE with the balance due at closing. SALES CONTRACT: The Buyer must complete and execute the sales contract, without any modifications and properly signed within 48-hours of the close of the auction. Failure to execute the contract properly may result in a voiding of the contract by the Seller, with NO REFUND of the earnest money deposit. The contract will be emailed to the Buyer within 2 hours after the conclusion of the bidding. The Buyer will be required to print the contract, execute the contract manually, and return the original, signed contract to Wester Auction & Realty, Inc. Delivery shall be in person or by certified, overnight delivery service. Failure to deliver the executed contract to Wester Auction & Realty, Inc. within 48 hours after receipt by email, may result in the voiding of the contract by the Seller, with NO REFUND of the earnest money deposit. CLOSING: The cash closing shall occur within 30 days of the contract execution date. If any party requires a delay of the closing, all parties must agree, IN WRITING, before the closing date will be changed. Seller's closing costs are limited to their portion of the prorated property tax, revenue stamps and the cost of deed preparation. All other closing costs are the responsibility of the Buyer. PROPERTY CONDITION: All properties in this auction are selling "AS-IS, WHERE IS" with all faults, if any. It is the Buyer's responsibility to conduct all inspections prior to the end of the auction. The due diligence period ends at 5:00 PM on the day before the bidding is scheduled to end. Wester Auction & Realty, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer's responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated due to the Buyer's failure to conduct his/her own inspection(s) prior to placing a bid or doing his/her due diligence. It is automatically acknowledged by placing a bid that the Buyer has personally inspected the property, hired an Agent to inspect the property, or waived his/her right to inspect the property.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 500.00 USD
Currency USD
Buyer Premium Each high bid will have a 5% BP added
Payment Terms
EARNEST MONEY DEPOSIT: Each registered Bidder will be required to provide a credit card at registration. This card will be used to post a 5% NON-REFUNDABLE earnest money deposit on each property purchased by the successful bidder. This NON-REFUNDABLE deposit will be charged to the successful bidder's credit card immediately after all bidding has concluded. If the deposit is declined, the successful bidder will receive ONE telephone call to the number given at registration. The successful bidder will be required to give another card that will accept the deposit charge. If the successful bidder fails to answer or cannot provide an acceptable card, the sale will be voided and the property will be offered to the next highest Bidder. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. SALES CONTRACT: The Buyer must complete and execute the sales contract, without any modifications and properly signed within 48-hours of the close of the auction. Failure to execute the contract properly may result in a voiding of the contract by the Seller, with NO REFUND of the earnest money deposit. The contract will be emailed to the Buyer within 2 hours after the conclusion of the bidding. The Buyer will be required to print the contract, execute the contract manually, and return the original, signed contract to Wester Auction & Realty, Inc. Delivery shall be in person or by certified, overnight delivery service. Failure to deliver the executed contract to Wester Auction & Realty, Inc. within 48 hours after receipt by email, may result in the voiding of the contract by the Seller, with NO REFUND of the earnest money deposit. CLOSING: The cash closing shall occur within 30 days of the contract execution date. If any party requires a delay of the closing, all parties must agree, IN WRITING, before the closing date will be changed. Seller's closing costs are limited to their portion of the prorated property tax, revenue stamps and the cost of deed preparation. All other closing costs are the responsibility of the Buyer.
not applicable