Lake Gerald Properties Online Auction This Online Auction starts ending Tuesday, May 19th at 6pm CST Lake Gerald is a private, residential lake community located near Delta, Alabama, in Clay County. The lake encompasses approximately 77.5 acres, offering property owners a peaceful setting for recreation, waterfront living, and outdoor enjoyment. Lake Size: Approximately 77.5 acres Location: Near Delta, Alabama (Clay County) Type: Private residential lake community Primary Uses: Fishing, boating, residential living Setting: Quiet, rural lake environment Property Types: Waterfront homes and residential lots Allowed: Swimming, Fishing, Motorized Boating Here's what will be offered: Tract 1 – 3-bedroom, 2 bath 1344 sqft 2002 manufactured home on .41± acre with 158± feet of waterfront located in Delta, Alabama on Lake Gerald. Tract being lot 60 of Lake Gerald Subdivision. Tract 2 – .59+/- acre Waterfront lot being lot numbers 58 and 59 of Lake Gerald Subdivision with approximately 185± feet of waterfront. Tract 3 – .71+/- acre being lot number 63 of Lake Gerald Subdivision. Combination 1+2 – Purchase the manufactured home and adjoining waterfront lot together to create an expanded lakefront property with additional privacy, space, and investment potential. TRACT 1 – 3 Bedroom Manufactured Home on Waterfront Lot Property Features: • 3 Bedroom, 2 Bath 1344 sqft 2002 Manufactured Home • Situated on .41± acre lot • Approximately 158± feet of waterfront • Direct access to Lake Gerald • Established yard with lake views • Ideal for full-time living, weekend retreat, or investment property • Located in Delta, Alabama — convenient to surrounding communities while offering peaceful lake living Location & Opportunity: This property offers the opportunity to enjoy lakefront living in a quiet setting on Lake Gerald. Whether you are looking for a primary residence, vacation home, or rental investment, this property provides immediate lake access and the lifestyle that comes with waterfront ownership. TRACT 2 – .59+/- acre Waterfront Lot Property Features: • Waterfront lot in Lake Gerald Subdivision • .59± acre parcel • Approximately 185± feet of waterfront • Direct Lake access Development Potential: This waterfront lot provides an excellent opportunity. With generous frontage and flexible use options, this tract offers long-term value for end users. TRACT 3 – .71+/- acre lot This .71± acre lot in Lake Gerald Subdivision offers additional opportunity for multiple uses. Combination 1 and 2 Buy the Manufactured Home and Waterfront Lot Together Purchasing Tract 1 and Tract 2 together creates a larger lakefront property with expanded waterfrontage, additional privacy, and increased long-term value. This combination is ideal for buyers who want room to grow, build additional structures, or secure additional shoreline on Lake Gerald. Buy One, Buy Some, or Buy Them All! Key Auction Details • Real estate auctions — we guarantee free and clear title to the property • Public Auction: Open to all qualified bidders • Buyer's Premium: 10% added to the high bid • 20% Non-Refundable Downpayment • Terms: SOLD "As Is, Where Is" • Requirement: Proof of Funds or Pre-Approval Letter Required Before Bidding • Auctioneer: Ron Young (334) 885-1787 | AL License #5390 | GA License #4397 Sold As Is, Where Is Multi-Parcel Bidding Terms and Strategy Guidance- This auction utilizes a multi-parcel (multi-par) format. The property is divided into multiple tracts that are offered for sale individually AND in various combinations. The purpose of this format is to achieve the highest total sales price by allowing bidders to purchase individual tracts, combinations of tracts, or the entire property. a. How Multi-Parcel Bidding Works: • Bidding opens on all individual tracts • Combination bidding opens AFTER each individual tract receives at least one bid • The platform automatically calculates which configuration produces the highest total dollar amount in REAL-TIME • The configuration producing the highest total becomes the winning sale method • The platform shows bidders their status as "HIGH BIDDER" or "OUTBID" based on the current winning configuration • Only bidders whose bids are part of the winning configuration at auction close will be obligated to purchase b. How the Platform Determines the Winning Configuration: The platform automatically compares all possible sale configurations in real-time, including: • All individual tracts sold separately (sum of high bids) • Various combinations of tracts sold together • The entire property sold as one unit The platform continuously calculates which configuration produces the HIGHEST TOTAL DOLLAR AMOUNT. This determines which bidders are currently winning and what they would purchase. Bidders can see their status update automatically as bids are placed. c. Bidding on Combinations: • A combination bid must be at least one full increment higher than the sum of the current high bids on the individual tracts included in that combination • Example: If Tract 1 = $75,000 and Tract 2 = $70,000 (total $145,000), a bid on Combination 1+2 must be at least $147,000 ($145,000 + $2,000 increment) d. Understanding Your Bidding Status: • The platform will show you as "HIGH BIDDER" or "WINNING" if your bid is currently part of the winning configuration • You may show as "OUTBID" even if no one has bid higher than you on your specific tract - this means a different configuration is currently winning overall • Your bidding status can change based on bids placed on ANY tract or combination, not just the one you bid on • Being "OUTBID" does not necessarily mean you have lost - the configuration may shift back in your favor as other bids are placed • The platform automatically updates your status in real-time as the winning configuration changes Important: You can be “OUTBID” in two different ways: 1. Someone bid higher than you on the same tract/combination 2. A combination bid is now producing a higher total (even though you're still the highest bidder on your specific tract) e. Bidding Increments: Individual Tracts: $1,000 minimum increment Two-Tract Combinations: $2,000 minimum increment Three-Tract Combinations: $3,000 minimum increment Bidders may enter amounts higher than the minimum increment. f. No Maximum (Auto) Bidding: • This auction format does NOT allow maximum bids or auto-bidding • All bids must be placed manually at the next increment or higher • Bidders must actively monitor and place bids throughout the auction • The platform does NOT proxy bid on your behalf g. Extended Close for All Tracts: • If ANY bid is placed on ANY tract or combination within the last two minutes of the auction, bidding will remain open for ALL tracts and combinations for an additional two minutes • This process continues until no bids are placed on any tract or combination for a full two-minute period • The extended close applies simultaneously to all tracts and combinations h. Bidding Strategy to Avoid Unintentionally Winning Multiple Tracts: To avoid unintentionally winning multiple tracts, we strongly recommend following this bidding strategy: If you bid on an INDIVIDUAL TRACT, we recommend you ONLY bid on COMBINATIONS that include that same tract. Examples: ✓ RECOMMENDED: You bid on Tract 2 individually → Also consider bidding on Combination 1+2, Combination 2+3, or Combination 1+2+3 (all include Tract 2) ✓ RECOMMENDED: You bid on Combination 1+3 → Also consider bidding on Tract 1, Tract 3, Combination 1+2, or Combination 1+2+3 ⚠ NOT RECOMMENDED: You bid on Tract 2 individually → Avoid bidding on Tract 1, Tract 3, Combination 1+3, or any other option that doesn't include Tract 2 Why We Recommend This Strategy: As bidding progresses and the high bidder shifts between individual tracts and combinations, you could unintentionally become the winning bidder on MULTIPLE TRACTS simultaneously. Example of what could happen: You bid on Tract 2 ($65K) - you're high bidder on Tract 2 Someone bids Combination 2+3 ($145K) - now you're outbid on Tract 2 (it's included in the winning combination) You bid on Tract 3 ($85K) - you're high bidder on Tract 3 Someone bids on Tract 1 alone ($80K) - now Combination 2+3 is no longer the winner, so you're suddenly the high bidder on BOTH Tract 2 AND Tract 3 ($150K total) You would be obligated to purchase both tracts when you may have only wanted one EXCEPTION - When You're Released From Your Bid: If someone directly outbids you on the EXACT tract or combination you bid on, you are released from that obligation and free to bid on any other tract or combination without restriction. i. Examples of Multi-Parcel Outcomes: EXAMPLE 1: Individual Tracts Win Final Bids: • Tract 1: $80,000 (Bidder A) • Tract 2: $70,000 (Bidder B) • Tract 3: $90,000 (Bidder C) • Combination 1+2+3: $225,000 (Bidder D) Result: Individual tracts total $240,000 vs. Combination of $225,000 WINNER: Tracts sell separately. Bidder A purchases Tract 1, Bidder B purchases Tract 2, Bidder C purchases Tract 3. EXAMPLE 2: Combination Wins Final Bids: • Tract 1: $75,000 (Bidder A) • Tract 2: $65,000 (Bidder B) • Tract 3: $85,000 (Bidder C) • Combination 1+2+3: $245,000 (Bidder D) Result: Individual tracts total $225,000 vs. Combination of $245,000 WINNER: Entire property sells as one. Bidder D purchases all three tracts. Bidders A, B, and C do NOT purchase anything. EXAMPLE 3: Mixed Configuration Wins Final Bids: • Tract 1: $75,000 (Bidder A) • Tract 2: $65,000 (Bidder B) • Combination 2+3: $160,000 (Bidder C) • Combination 1+2+3: $230,000 (Bidder D) Result: Tract 1 alone ($75,000) + Combination 2+3 ($160,000) = $235,000 total vs. Combination 1+2+3 ($230,000) WINNER: Mixed configuration. Bidder A purchases Tract 1, Bidder C purchases Tracts 2+3 combined. Bidders B and D do NOT purchase anything. j. Bidder Acknowledgment: By bidding in this multi-parcel auction, Bidder acknowledges and agrees that: • They understand how multi-parcel bidding works and how the platform automatically determines the winning configuration • They may show as "OUTBID" even if no one bids higher on their specific tract • Only the winning configuration at auction close creates binding purchase obligations • The platform's automatic determination of the winning configuration based on highest total value is final • All bids are binding if they become part of the winning configuration at auction close Questions? Call us and we'll walk you through it. Multi-parcel bidding is common in land auctions and ensures everyone gets a fair shot! Contact: Ron Young, Auctioneer (AL#5390, GA#4397) Cell: 334-885-1787 Email: Ron@SouthernAuctionSolutions.com