Auction Details

Type

Online Auction

Auction Dates

Oct 05 - Nov 05, 2018

Description

Approximately 2,500 Sq Ft Home with 4 bedrooms, 2 full baths
* 3 Lots - 2  vacant, over 1 acre of property
* Beautiful pecan trees * 2 car garage
* Updated Kitchen  * Great rental potential or ready to be flipped

Online Auctions FAQs


When should I register for an online auction?
We recommend that you register as soon as possible. This allows you to become familiar with the online process and makes things easier when the auction opens.


Am I obligated to bid once I register?
You are under no obligation to bid once you register. Registering for the auction gives you the option to bid, but nothing else.

If you ask for my credit card number during the registration process, do you actually charge my card?
Your credit card will be used as part of the authorization process. We will not charge your credit card.

Where do I register?
You can register for an online auction through the Southern Auction Solutions website.
Simply go to www.SouthernAuctionSolutions.com on the Home page, find the auction you are interested in and click the Auction Details button then click the “Bid Now” Then, follow the instructions to register. You must enter all information and accept the “Terms and Conditions” to complete registration. After your registration has been approved, you will be notified of your approval either immediately on the registration site, or by email notification, or both. After you have received that notification, you can return to the auction at any time when bidding is open, login, and click “Bid Now” to bid.

When will the auction start? When will bidding end?
Bidding on any Southern Auction Solutions online auction will begin and end at the times clearly shown on the Home page on Southern Auction Solutions website and in the Property Information Package for the particular auction. Please be careful to note that all times are expressed in Central Standard Time (CST).

Where can I find additional information on a property?
In our Property Information Package (PIP), which you can download from the Southern Auction Solutions website. Actually, we require that you download a PIP and assure us that you have done so when you accept the terms and conditions for your auction. To download a PIP for the auction of your choice, start on the Home page find the auction you’re interested in and click “Auction Details” Then click “Documents” select the PIP you wish to download. Click “Download”. You may also download any other documents that might be available for the auction in which you are interested.

Should I wait until the last minute to bid?
You can certainly bid whenever you choose during the time that bidding is open. We recommend, however, that you not wait until the last minute to bid, in order to make sure that you do not miss an opportunity to bid because of technical or other issues that might arise. There is no particular advantage to waiting until the very last moment, as all Southern Auction Solutions auctions feature an anti-sniping extension called auto-extend (see below) that limits a bidder’s ability to be the winning bidder by submitting a bid at the very last moment.

What is the auto-extend feature?
If someone bids within the last few minutes of the auction, the timer for the auction will automatically extend. Typically, the time periods are: any bid within the last 4 minutes of the auction will extend the bidding for an additional 4 minutes. These “auto-extend” time periods may change for particular auctions, however, so be sure to check the auto-extend times for your particular auction, which will be clearly noted in the “Terms and Conditions” for the auction. The extension process will continue happening until no further bids are taken before the closing time, as extended. For example in an auction with a 4 minute auto-extend provision, if bidding is scheduled to close at 11:00 AM and you bid at 10:59 AM, the bidding will automatically be extended for an additional 4 minutes, until 11:04 AM. If someone then bids at 11:02 AM, the bidding will extend again, for 4 additional minutes, until 11:08 AM … and so forth until no bids have been taken before the closing time for bidding, as extended.

What is the maximum bid feature?
The maximum bid feature allows you to put into the system your highest bid. The system will then bid on your behalf in the next increment up to but not exceeding that number. If no one bids against you the system will not further raise your bid. Max bidding is kind of a “set it and forget it” bid, but you will want to stay tuned to see if other bidders have exceeded your maximum.

What happens if two people enter the same maximum bid?
If two bidders enter the same number as a max bid, the bidder who entered the max bid first will be considered the current high bidder at the full max bid amount (tie goes to the runner, in this case to the max bidder who was first-in-time to enter the max bid at that amount). For this reason if you plan to enter a maximum bid we recommend you enter it as soon as possible once the bidding starts.

After I have entered a maximum bid, what happens when someone enters a manual bid that is less than my max bid, or at the same level as my max bid?
After you have entered a max bid, if another bidder enters a specific (manual) bid at an amount less than your max bid, your bid will be advanced to the next increment higher than the other bidder’s manual bid, subject always to not exceeding your max bid amount. If the other bidder enters a manual bid in the same amount as your previously-registered max bid, your max bid will match the manual bid and your max bid will be considered the high bid at that amount because it was entered earlier than the later manual bid at that same amount (again, tie goes to the runner, in this case the max bidder who had previously entered a max bid at that amount instead of the bidder who entered a manual bid at the same amount).

I won, what happens next?
An agent from our office will either call or email you soon after the auction bidding closes, typically, within 24 hours.
* If the auction did not have a reserve and did not require seller confirmation, our agent will provide you with instructions on increasing your deposit, scheduling the closing, and other post-auction details.

* If the auction was subject to a reserve or required seller confirmation, our agent will advise whether your high bid has been accepted. If your high bid is accepted, we will provide you with instructions on
increasing your deposit, scheduling the closing, and other post-auction details. If your high bid has not been accepted, we will advise you as to the next steps. Any bidder may make post auction offers on the property through Southern Auction Solutions’ agents.

What if I have further questions?
Call our office for more information on the auction in which you are interested. Telephone and email contact information can be found on the website www.SouthernAuctionSolutions.com . Our auction professionals will always be happy to help with any questions that you might have.
 

1

Bailey Online Only Auction

Bailey Online Only Auction - Approximately 2,500 sq ft home with 4 bedrooms, 2 full bathrooms, on 3 lots.  Beautiful pecan trees, 2 car garage and updated kitchen. "Sold As Is" "Where Is" Great Renal Potential or Ready to be Flipped. Year Built : 1930 Address: 2717 17th Avenue City: Valley State: Alabama Property Location - State: Alabama Property Location - Country: United States Property Location - County: Chambers APN/Parcel ID: 180362002001000 Property Record Card Appraised Value: $79,340.00

 Details

Terms & Conditions

Terms and Conditions of the Auction Sale

Auction: Bailey Absolute Online Only Auction

1. Purchase Contract: The property is offered under the specific terms provided in the Real Estate Sales Contract. A sample Real Estate Sales Contract is available at www.SouthernAuctionSolutions.com for the property. You may request a copy of the Real Estate Sales Contract from the auction company by emailing Ron@SouthernAuctionSolutions.com or by calling 334-885-1787. The entire property information package with the Real Estate Sales Contract is available at www.SouthernAuctionSolutions.com. Please download the Property Information Package to view.
See “”Online Auctions FACs” - Where can I find additional information on a property? For details on how to download PIP.

a. Bidders will be required to provide a credit card for registration to bid online in order to be qualified to bid. Also see section 4. “Bidder Verification” below.

b. Deposit is 10% of the high bid. The deposit is due to the auction company within the specified time frame in the Real Estate Sales Contract after the online auction is concluded via wire transfer or cashier’s check.
Notice to Non-U.S. Citizens: All deposits must be arranged through wire transfers to Southern Auction Solutions. Non-U.S. Citizens’ Certified checks will not be accepted.

c. The winning bidder(s) will be required to sign a binding, non-contingent Real Estate Sales Contract immediately following the auction sale.

d. Bidding Increments are a minimum of $2,500.00 for the property. However, this may change as the Auctioneer sees fit. Bidders may enter a higher amount but no bids below $2,500.00 for the property.
THE BID AMOUNT THAT IS SHOWN AS THE HIGH BID IS WITHOUT A BUYER’S PREMIUM. ALL BIDS IN THE ONLINE BIDDING WILL HAVE A 10% BUYER’S PREMIUM ADDED TO DETERMINE THE FINAL SALES PRICE.

2. Terms of Sale: At the conclusion of the auction, the winning bidder(s) will be emailed or faxed a Real Estate Sales Contract to be executed and returned to Ron@SouthernAuctionSolutions.com and or fax to: 256-357-2323. Successful bidders will deposit Ten Percent (10%) of the High Bid Price by wire transfer or certified check to the auction company, Southern Auction Solutions trust account with the Real Estate Sales Contract for sale within 24 hours of auction conclusion. The entirety of the remaining balance is due at closing on or before the contractual closing date stipulated in the Real Estate Sales Contract. This must be completed within 24 hours of receipt of the documents or the purchaser shall be in default.

3. Bidder Verification: Bidder must register to participate in the auction. Southern Auction Solutions will verify all bidder registrations. If the auction firm is unable to verify the bidder and/or the bidder does not comply with the online terms the bidding rights shall be terminated or extinguished without notice. The Auctioneer may require a proof of funds letter be submitted prior to or during bidder participation. A credit card is required to register. No charges will be made to your card unless you are determined to be the winning bidder and you fail to execute the Real Estate Sales Contract and pay the required earnest money deposit. At the discretion of the Auctioneer, a penalty of $2,500.00 will be charged to the credit card provided at registration if you fail to return the signed Real Estate Sales Contract and pay the required earnest money deposit within the required time period.

4. Buyer's Premium: A 10% buyer’s premium will be added to the bid price to determine the final sale price. Example:
Bid Price: $100,000
Plus 10% Buyer’s Premium: $10,000
Total Sale Price: $110,000


5. Bidding Format: HIBID and affiliated companies, utilize “timed auction events” in an online setting. You will need a continuous internet connection, high speed connection is recommended.
Our online only real estate auctions also include an auto-extend feature. Any bid placed within 4 minutes of the auction ending will automatically extend the auction for an additional 4 minutes from the time the bid is placed. A maximum bid can be placed on the property. A maximum bid is kept confidential. For technical assistance please call 334-885-1787.
(Example:) If an auction scheduled to end at 4:00 p.m. receives a bid at 3:59 p.m., the conclusion of the auction automatically extends to 4:03 p.m. The auto-extend feature remains active until no further bids are received within the 4 minute time frame. The winning bidder is the final bidder whose bid has not been raised in the 4 minute time frame.

6. Auction Bid Default: In the event a winning bidder fails to submit the executed Real Estate Sales Contract as well as the required earnest money deposit as provided in the Auction Terms, there may be remedies for the seller as a result of default, including, but not limited to, a debit to the credit card provided, see Real Estate Sales Contract for specifics.

7. Closing: Closing will occur within 30 days of the auction. The seller shall convey the property by Warranty Deed. The seller shall pay for deed preparation and their prorated share of taxes. The Buyer shall be responsible for all other costs of closing and transfer. All deposits of tenants shall be transferred or credited to the buyer at closing to the buyer at closing, if applicable. All leases due and payable shall be prorated to the date of the closing, as is standard and common practice to the area in which the property is located. Buyer acknowledges that this sale is not contingent upon post sale inspections or financing approval. Any closing that is delayed beyond 30 days without the written authorization of Seller and Auction Company due to any actions or inactions of Buyer or anyone working on behalf of Buyer, including lenders, inspectors, appraisers, etc., will cause Buyer to be considered to be in breach of contract. Buyer will forfeit all down payment and will be held responsible for any costs incurred by either Auction Company or Seller from the resale of the property, all legal claims will be properly filed in Randolph County, in the State of Alabama.

8. Agency Disclosure: Southern Auction Solutions, Ron Young and all affiliates and partners represent the SELLER in ALL transactions.

9. Disclaimer: All information contained herein is believed to be correct. 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 individual investigation and inspection. The property is being sold “AS IS, WHERE IS” with any and all faults. All properties are sold subject to any and all existing matters of record, all easements, and local zoning regulations. There are no contingencies for financing, appraisals, repairs, or inspections or any other requirements that may be required by the mortgage company. Please review all information supplied and seek appropriate assistance prior to bidding.
Bidder acknowledges that hardware malfunctions, software malfunctions, viruses and similar issues do occur and are beyond the knowledge, scope, and control of the Auctioneer. We are NOT responsible for your system malfunctions, connection to the Internet or your email stopping any of our emails to you in regard to bid confirmations and/or outbid notifications.
Read the descriptions and view photographs carefully. If you have any questions, please call the auctioneer at 334-885-1787. Using YOUR knowledge and experience, form your own opinion of the property and bid accordingly. If you are in doubt, DO NOT BID. The property is sold AS-IS; this is an AUCTION and all SALES ARE FINAL. Bids cannot be retracted and are binding contracts between Bidder and Auctioneer/Seller. Bidder is accountable to be informed about property and associated costs before bidding.
Except for properties noted “Absolute Auction,” all properties in auctions have a minimum selling price established by Seller (“Reserve Price”). The starting bid is not the Reserve Price. Except where prohibited by law, Auctioneer may counter bid on behalf of Seller on any property up to the amount of the Reserve Price (and no such bid will result in a sale of the property). If the Reserve Price is not met, Seller is under no obligation to sell the property; however, Seller may accept a bid that is below the Reserve Price in its sole direction. Auctioneer reserves the right to reopen bidding. Auctioneer’s decisions will be final.
All information has been gained from the Chambers County GIS and is believed to be accurate but not guaranteed.  Interested parties should do their own due diligence. 
10. Changes, Alterations and Announcements: The Auctioneer reserves the right to deny any person admittance to the auction, to postpone or cancel the auction, to withdraw the property from Auction and to change or alter the terms of the Auction upon announcement prior to or during the course of the Auction sale, without prior notice.

11. Auction subject to Prior Sale: Auction subject to prior sale does not mean it is our intention or goal to sell the property before the auction OR that there is a listed price posted on the property. Southern Auction Solutions is legally bound to present any and all offers to the Seller at the time they are presented. Although we endeavor not to encourage pre-auction offers unless they are exceptional, we are obligated to present all of them, regardless of when, how or from whom they arrive. Although the intent is to auction the listed property, the ultimate goal is to sell the property for a price satisfactory to the Seller. If the property is sold prior to auction, the Auctioneer will do his best to give notice to all other interested parties.
Ron Young, Auctioneer, Al License #5390.






 

Directions

Property Address
2717 17th Ave
Valley, AL

Property Card Record

Type: PROPERTYINFOPACKET

Chambers County Property Card Record

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Plat

Type: PROPERTYINFOPACKET

Plat

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Real Estate Sales Contract

Type: PROPERTYINFOPACKET

Real Estate Sales Contract

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Satellite View

Type: PROPERTYINFOPACKET

Satellite View

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Lead Based Paint Pamphlet

Type: PROPERTYINFOPACKET

Lead Based Paint Pamphlet

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Lead Based Paint Form

Type: PROPERTYINFOPACKET

Lead Based Paint Form

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Southern Auction Solutions
Office: (256) 357-9600
23 N Main St.
Wedowee, AL 36278