Online Municipal Real Estate Auction
309 Maple Avenue, Panama City, Florida
Bidding Opens September 18th
Bidding Ends October 2nd at 2PM
MORE INFORMATION TO COME!
Breco Benton Auction, LLC
266 W. Washington St.
Madison, GA 30650
www.brecobenton.com
706-342-3355
This auction will be an Online Only auction.
All Properties Sold Subject to Sellers Approval.
10% Buyers Premium on all Properties.
10% Down Payment due within 48 hours
Buyer pays closing costs.
AUCTION END TIMES & AUTO EXTEND FEATURES: Our Auctions are timed events with an auto extend feature. The auto extend time typically starts out at either 3 or 5 minutes and may decrease if the auction continues to extend past the scheduled closing time. For example, if the auction is scheduled to begin closing at 2:00 PM and someone places a bid at 1:59, the system will auto extend 3 minutes to allow the previous bidders time to bid again. The auto extend feature remains active until no further bids are received within a 3 minute time frame.
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
ALL PROPERTIES SOLD SUBJECT TO SELLER APPROVAL: Please note that all bids will have to be approved by the seller. Although some may be confirmed that day, others may take additional time to receive approval.
CONTRACTS: Once all lots have closed, our office will begin preparing the Sales Purchase Contract to send to you for your signature. Please allow us 24 hours to get the contract sent to you. Once you receive the contract, we ask that you return it within 48 hours along with the Earnest Money Deposit.
DOWN PAYMENT: 10% Down Payment. Deposit Due within 48 hours with the balance due within 30 days.
CLOSING COST: All cost incurred for the closing will be paid by the buyer.
CLOSING AGENT: tbd
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.
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 48 hours.
No conditions may be added to the agreement by the buyer.
Please note that you may need to refresh your screen during the last minutes of the auction to ensure the most accurate information.
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)
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.
Please Note: Descriptions, Acreage, Aerials & Pictures etc.. may be derived from tax assessors records on file. Please be sure to conduct your own due diligence to verify all information provided. Seller reserves the right to add or delete any properties at anytime prior to the close of the auction.
Agent Disclosure: Members of sellers are licensed agents in the state of Georgia
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. If property is selling with reserve or subject to owner confirmation, L.W. Benton Company reserves the right to or have the system bid on behalf of the seller up to the reserve amount.
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 Contract for Sale of Real Estate
Please do you own due diligence before bidding. By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer and to fulfill the terms and conditions to the fullest. If a bidder cannot satisfy the terms of the auction, the bidder should not bid. If you are unsure about what you are bidding on, Do Not Bid!
Breco Benton Real Estate Auction | 706-342-3355 | www.brecobenton.com
GA RE 75054 GA AU-C003044 FL AU5285 FL BK 3543788 FL BK 3365093
______________________________________________________________________________________________________________________________________
General Auction Info
Thoroughly read the auction information document and familiarize yourself with the properties offered and the auction terms and conditions. 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.
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.
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 terms of the auction for each property in the form of cashier’s check, personal or company check or wire transfer to Breco Benton Auction, LLC. 266 W. Washington St., Madison, GA 30650. For Wiring Instructions, please contact our office at 706-342-3355. Purchaser shall be responsible for all wire transfer fees. The entirety of the remaining balance is due at closing within 30 days from the sale date.
Contract Documents will be sent by e-mail to the successful bidder, who must execute and email back to Breco Benton Auction, LLC within 48 hours. 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 $3,000.00 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, L.W. Benton Company will reject the registration, and bidding activity will be terminated.
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 any way 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 during inspections or during removal and transport of any item, (II) buyer's use of Breco Benton Auction LLC’s or L.W. Benton Company’s websites and (III) a dispute with another bidder.
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. The auction reserves the right to place bids on behalf of absentee bidders, phone bidders and/or the seller on any properties being sold with reserve/subject to owner confirmation. 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. Due to the nature of how an auction works, having a 10 day post inspection period is not feasible. By registering to bid and confirming the terms & conditions online, bidders agree that they have or will inspect the properties 10 days PRIOR to the Auction if desired and further agree to waive the 10 day post sale inspection period. Any announcements made from the auction stand or announcements posted to the auction take precedence over all other prior announcements either announced, published, posted, verbal, or communicated in any form.
Breco Benton Real Estate Auction | 706-342-3355 | www.brecobenton.com
GA RE 75054 GA AU-C003044 FL AU5285 FL BK 3543788 FL BK 3365093
All Properties Sold Subject to Sellers Approval.
10% Buyers Premium on all Properties.
10% Down Payment due within 48 hours
Buyer pays closing costs.
AUCTION END TIMES & AUTO EXTEND FEATURES: Our Auctions are timed events with an auto extend feature. The auto extend time typically starts out at either 3 or 5 minutes and may decrease if the auction continues to extend past the scheduled closing time. For example, if the auction is scheduled to begin closing at 2:00 PM and someone places a bid at 1:59, the system will auto extend 3 minutes to allow the previous bidders time to bid again. The auto extend feature remains active until no further bids are received within a 3 minute time frame.
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
ALL PROPERTIES SOLD SUBJECT TO SELLER APPROVAL: Please note that all bids will have to be approved by the seller. Although some may be confirmed that day, others may take additional time to receive approval.
CONTRACTS: Once all lots have closed, our office will begin preparing the Sales Purchase Contract to send to you for your signature. Please allow us 24 hours to get the contract sent to you. Once you receive the contract, we ask that you return it within 48 hours along with the Earnest Money Deposit.
DOWN PAYMENT: 10% Down Payment. Deposit Due within 48 hours with the balance due within 30 days.
CLOSING COST: All cost incurred for the closing will be paid by the buyer.
CLOSING AGENT: tbd
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.
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 48 hours.
No conditions may be added to the agreement by the buyer.
Please note that you may need to refresh your screen during the last minutes of the auction to ensure the most accurate information.
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)
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.
Please Note: Descriptions, Acreage, Aerials & Pictures etc.. may be derived from tax assessors records on file. Please be sure to conduct your own due diligence to verify all information provided. Seller reserves the right to add or delete any properties at anytime prior to the close of the auction.
Agent Disclosure: Members of sellers are licensed agents in the state of Georgia
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. If property is selling with reserve or subject to owner confirmation, L.W. Benton Company reserves the right to or have the system bid on behalf of the seller up to the reserve amount.
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 Contract for Sale of Real Estate
Please do you own due diligence before bidding. By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer and to fulfill the terms and conditions to the fullest. If a bidder cannot satisfy the terms of the auction, the bidder should not bid. If you are unsure about what you are bidding on, Do Not Bid!
Breco Benton Real Estate Auction | 706-342-3355 | www.brecobenton.com
GA RE 75054 GA AU-C003044 FL AU5285 FL BK 3543788 FL BK 3365093
______________________________________________________________________________________________________________________________________
General Auction Info
Thoroughly read the auction information document and familiarize yourself with the properties offered and the auction terms and conditions. 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.
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.
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 terms of the auction for each property in the form of cashier’s check, personal or company check or wire transfer to Breco Benton Auction, LLC. 266 W. Washington St., Madison, GA 30650. For Wiring Instructions, please contact our office at 706-342-3355. Purchaser shall be responsible for all wire transfer fees. The entirety of the remaining balance is due at closing within 30 days from the sale date.
Contract Documents will be sent by e-mail to the successful bidder, who must execute and email back to Breco Benton Auction, LLC within 48 hours. 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 $3,000.00 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, L.W. Benton Company will reject the registration, and bidding activity will be terminated.
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 any way 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 during inspections or during removal and transport of any item, (II) buyer's use of Breco Benton Auction LLC’s or L.W. Benton Company’s websites and (III) a dispute with another bidder.
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. The auction reserves the right to place bids on behalf of absentee bidders, phone bidders and/or the seller on any properties being sold with reserve/subject to owner confirmation. 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. Due to the nature of how an auction works, having a 10 day post inspection period is not feasible. By registering to bid and confirming the terms & conditions online, bidders agree that they have or will inspect the properties 10 days PRIOR to the Auction if desired and further agree to waive the 10 day post sale inspection period. Any announcements made from the auction stand or announcements posted to the auction take precedence over all other prior announcements either announced, published, posted, verbal, or communicated in any form.
Breco Benton Real Estate Auction | 706-342-3355 | www.brecobenton.com
GA RE 75054 GA AU-C003044 FL AU5285 FL BK 3543788 FL BK 3365093