Investment Real Estate Auction - Income Producing Properties & Lots

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!

This auction will be an online only auction with a live webcast beginning at 1PM. This auction will be conducted just like our live auctions, however there will be no physical live event. Live bidding will be online. Bidders who cannot be available for the Live Webcast may pre-bid, placing their max bid. The system will bid on behalf of the online pre-bidder up to their max bid in the increments the auctioneer is selling in.

This auction will be an online only auction with a live webcast beginning at 1PM. This auction will be conducted just like our live auctions, however there will be no physical live event. Live bidding will be online. Bidders who cannot be available for the Live Webcast may pre-bid, placing their max bid. The system will bid on behalf of the online pre-bidder up to their max bid in the increments the auctioneer is selling in.

All Properties Sold Subject to Sellers Approval.

10% Buyers Premium on all Properties.

10% Down Payment with a $300 minimum

Buyer pays closing costs.


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 $300 minimum. Deposit Due within 48 hours with the balance due within 30 days.

CLOSING LOCATION/AGENT:
Martin Wilson
3646 Vineville Ave
Macon, GA 31204
478-471-1991

BUYERS CLOSING COST: $500 Per Property

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

TRANSFER TAX: Transfer tax to be paid by the buyer

RENTS/INCOMES: Any Rents or Income will be prorated to the day of closing

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.
The owner does warrant that they have good and merchantable title to the real estate and that they will convey the same with a deed, free from all encumbrances, liens or judgments.
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 Has 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. Your 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.

PRE-BID Bidding Increments:
0-500 = 25
500-2000 = 50
2000-10000 = 100
10000-25000 = 250
25000-50000 = 500
50000-250000=1000
250000+...=2500
increments may be subject to change at the auctioneers discretion.

Due to the large number of properties being offered, the Seller will choose the closing attorney. All Closing must be closed within 30 days.

Please do you own due diligence before bidding. If you are unsure about what you are bidding on, Do Not Bid!

Terms & Conditions For Sale of Real Property: Each property may be offered under the specific terms and conditions provided in the property information. 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.

Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to L.W. Benton Company, Inc.. 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 L.W. Benton Company, Inc. within 24 hours of the end of the auction.

Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction 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 L.W. Benton Company, Inc. 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, L.W. Benton Company 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 .

Agency Disclosure: In all transactions, L.W. Benton Company, Inc. 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. L.W. Benton Company, Inc. 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 L.W. Benton Company, Inc. 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 & L.W. Benton Company, Inc. 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 & L.W. Benton Company, Inc. 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 & L.W. Benton Company, Inc., 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 L.W. Benton Company, Inc.'s 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 L.W. Benton Company, Inc. 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.