Please see specific terms and information in the "Auction Info" link and in the 1st lot of the catalog.
auction recommendations
Thoroughly read the auction information document and familiarize yourself with the properties offered and the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. If you have questions about the terms, conditions or purchase agreement, contact our office and speak with one of the auction staff. Plan to inspect or drive-by each property in which you are interested. Establish a range of value for the property and bid within your limits. We do not recommend that you bid on a property that you have not seen. There is not an inspection period after the auction. The deposit listed in the terms is due upon being declared the winning bidder. The deposit is non-refundable. All information about the property has been provided by the seller or public records. All bidders must verify all information to their own satisfaction prior to bidding. Immediately upon completion of the auction, winning bidders will be required to execute an Auction Contract. Please be prepared to close the transaction within 30 days.
Buying real estate at auction is simple and easy.
Good luck in your bidding!
All Properties Sold Subject to Sellers Approval.
10% Buyers Premium on all Properties.
10% Down Payment with a $500.00 minimum
Buyer pays closing costs.
UNDER CONTRACT: Please note that one of the properties was under contract when the auction started. This property has been noted in the descriptions. They are set to close before the end of the auction. If they close as planned, we will take the properties off of the website and notify the bidders. If they do not close, we will continue the auction through to the end time and present the high bids from the auction to the Receiver.
APPROVAL OF BIDS: Please note that all bids will have to be approved by the court. Although some may be confirmed quickly, other may take up to 5 days or more to get confirmation.
CLOSING COST: Seller will be responsible for the cost of preparing the deed. All other cost incurred for the closing will be paid by the buyer.
DOWN PAYMENT: 10% Down Payment with a $500.00 minimum. Deposit Due within 48 hours with the balance due within 30 days.
CLOSING LOCATION/AGENT:
Hall, Bloch, Garland and Meyer LLP
577 Mulberry Street, Suite 1500
P.O. Box 5088
Macon, Georgia 31208
478-745-1625
POSSESSION: Purchaser shall receive possession of the property at the time of closing. There will be no exceptions to this condition
TITLE INSURANCE: Title Exam & Insurance will be the buyer’s expense
TAXES: Taxes will be prorated to the day of closing (if applicable)
TRANSFER TAX: Transfer tax to be paid by the buyer (if applicable)
RENTS/INCOMES: Any Rents or Income will be prorated to the day of closing (if applicable)
BUYERS FEE: A 10% Buyer Fee will be added to your final bid resulting in the final purchase price. Example: if the final bid on the property is $100,000.00, add the 10% buyers fee of $10,000.00 in this case, for a total purchase price of $110,000.00
SPECIAL NOTES: All properties are sold “As Is, Where Is” with no warranties expressed or implied as to current or future use of property. Failure of any bidder to inspect or to be fully informed as to the condition of the properties will not constitute grounds for any claim or demand for adjustment or withdrawal of any contract signed by the bidder. A copy of the contract may be reviewed prior to the Auction by contacting the Auctioneer.
At the conclusion of bidding, the successful bidder will be emailed a Sale/Purchase contract and will be required to return a signed copy within 24 hours.
No conditions may be added to the agreement by the buyer.
No certifications will be made. Please do your own due diligence on all properties.
Survey: Properties will be sold by the existing plats of record recorded in the county where the property is located. If there is no plat of record or legal description and the property requires a survey, the cost of the survey will be at the buyer’s expense. Please do your own due diligence prior to bidding.
Place Bid vs. Force Bid Button
This auction may have two bidding options: You may place your max bid in the Place Bid field and the system will bid on your behalf against other bidders max bids in the increments set for the auction. You may also force your bid to a bid amount of your choice by using the Force Bid field. For example, if you want to "jump" your bid to $5000 you would use the Force Bid field and your bid would now be $5000.
Auction End Times: Our Online Auctions are timed events and all bidding will close at specified time. Our Online Auctions also have an auto extend feature. Any bid placed in the final 5 minutes of an auction, the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend 6:04.The auto extend feature remains active until no further bids are received within a 5 minute time frame. ALL PROPERTIES IN THIS SALE EXTEND IF ANY ONE OF THEM IS EXTENDED.
Extend All Feature: This auction will have an extend all feature. If any property extends, all properties extend until there is no more bids in a 5 minute period on any lot.
You may need to refresh your screen constantly during the closing minutes of the bidding!
SERVER SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Breco Benton Auction reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Breco Benton Auction 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 the email address provided in your registration with updated information as deemed necessary by Breco Benton Auction.
TERMS: 10% of the final bid price as non refundable earnest money in the form of a certified check, cash or wire transfer within 48 hour of the close of auction, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees and any currency exchange fees to US dollars. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Contract for Sale of Real Estate
Bidding Increments:
1000 - 5000 = 100
5000 - 10000 = 250
10000 - 25000 = 500
25000 - 100000 = 1000
100000 - 200000 = 2500
200000+... = 5000
increments may be subject to change at the auctioneers discretion.
Please do you own due diligence before bidding. If you are unsure about what you are bidding on, Do Not Bid!
Breco Benton Auction LLC
266 W. Washington St.
Madison, GA 30650
Jack Bone - 706-342-3355
www.brecobenton.com
GAL#304
General Terms & Conditions For Sale of Real Property: Each property is offered under the specific terms and conditions provided in the property information package. Please read and review the terms & conditions thoroughly prior to bidding on any property. If you have not read and reviewed the Terms & Conditions of Real Property, Do Not Bid.
Extend All Feature: Due to the types of properties, this auction will have an extend all feature. If any property extends, all properties extend until there is no more bids in a 5 minute period on any lot.
Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Breco Benton Auction, LLC.. Successful bidders will deposit an earnest money deposit as stated in the property information package for each property in the form of cashier’s check, personal or company check with bank letter or wire transfer with the onsite broker listed for the specific property. The entirety of the remaining balance is due at closing within 30 days from the sale date. Purchaser shall be responsible for all wire transfer fees.
Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Breco Benton Auction, LLC. within 24 hours of the time the email was delivered
Successful bidders not executing and returning their contract within 24 hours and earnest money deposit within 48 hours of the as specified will be considered in default.
Auction Bid Default: In the event a winning bidder fails to submit the signed “Contract for Sale of Real Property” and the earnest money deposit as provided in the pre-stipulated Auction Terms, the winning bidder will be charged a penalty fee of $2,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Breco Benton Auction LLC. and the Seller as provided in the Auction Terms & Conditions and the “Contract for Sale of Real Property”.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Breco Benton Auction LLC will reject the registration, and bidding activity will be terminated.
A 10% buyer’s premium will be added to the bid price to determine the final contract price.
Buyer's premium
A 10% buyer's premium will be added to the bid to establish the contract price the successful bidder must pay. For example, a bid of $100,000 will be assessed a $10,000 buyer's premium, creating a contract price of $110,000.
Closings: Time being of the essence, these sales shall be closed with 30 days of the sale date. The seller will pay for preparation of the deed of conveyance, and prorated taxes up to the date of closing. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. Rents/Incomes will be prorated to the date of closing. The purchaser will pay all other closing costs associated with this sale .
Broker Participation: A two and a half percent (2.5%) of the bid price commission is available to properly registered brokers. Please review the broker participation form for eligibility.
Agency Disclosure: In all transactions, Breco Benton Auction LLC. is acting as agent for the seller, not as buyer’s agent. This transaction is not contingent on the buyer obtaining financing or upon any other event except as specifically referred to in these terms and conditions.
Multiple tract sales
Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. Breco Benton Auction LLC reserves the right to offer the property in individual tracts or lots, combinations of tracts or lots, as a whole or in anyway that we see fit in order for it to bring the most money for the seller. The sale of combinations supersedes the sale of individual tracts. The decision of the auctioneer is final. Seller and Breco Benton Auction LLC reserve the right to amend any terms or conditions prior to or during the auction.
Release
By its acceptance of the deed, buyer shall be deemed to release seller & Breco Benton Auction LLC from any and all claims and liabilities relating to any defect, deficiency of other matter concerning the property including, without limitation, the quality, condition, quantity, or use of the property. Sellers & Breco Benton Auction LLC give no warranties of any kind either expressed or implied, with respect to the condition, merchantability, use, size, configuration, design, or suitability of the property.
Legal courses of action
Bids are a binding offer to enter a contract and you are responsible for honoring them. Every legal remedy available will be used to ensure buyer's performance of this contract. Buyer accepts responsibility for and agrees for buyer and all of buyer's agents, representatives, successors and assigns to indemnify, defend and hold harmless sellers & Breco Benton Auction LLC, their employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents, and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs, and expenses including reasonable attorneys' fees and expenses related to, arising from, or associated with (I) the sale of the property, including, but not limited to, personal injuries or property damage incurred on the sale premises or during removal and transport of any auction item, (II) buyer's use of Breco Benton Auction LLC website and (III) a dispute with another bidder.
Bid retraction
By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer. If a bidder cannot satisfy the terms of the auction, the bidder should not bid.
Disclaimer: All information contained herein is believed to be correct to the best of the Breco Benton Auction, LLC 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. Each bidder must conduct and rely solely upon their own investigation and inspection. The property is being sold “AS IS” with any and all faults. By Georgia Law, all properties are sold with reserve/subject to owner confirmation unless advertised Absolute. Please review all information supplied and seek appropriate assistance prior to bidding. Note: Under Title X, the purchaser of a single family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. All bidders must sign a waiver of the 10 day post sale inspection period. Any announcements made from the auction stand take precedence over all other prior announcements either announced, published, posted, verbal, or communicated in any form.
