Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.rowellauctions.com. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property, Do Not Bid!
This real estate is offered in 6 tracts. The equipment is offered in 40 tracts.
Tract 100: 5.841 ± acres
Tract 200: 4.96 ± acres
Tract 301: 16.713± acres
Tract 302: 5.012 acres
Tract 303: 5.871 acres
Tract 304: 10.179 acres
Tract 305: Metal Gin Building
Tracts 400-439 Equipment
Each tract is offered individually, in combination with other tracts , in combination with the equipment and the property in its entirety. The equipment and building is being offered separately and in combination with the real estate. The configuration that produces the best offer to the seller will determine how the property sells.
This property sells subject to bankruptcy court approval. Please refer to the Contract for Sale of Real Property for complete terms.
Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.
Open House Date: Friday, December 11th, 1:00 pm to 4:00 pm
Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Example: Rowell Auctions, Inc. Online Only Real Estate Auctions have a “Dynamic Close” auto extend feature. Any bid placed within 10 minutes of the advertised auction end time will automatically extend the auction for 10 minutes from the time the bid is placed. Example: If an auction scheduled to end at 2:00 p.m. receives a bid at 1:59 p.m., the “Dynamic Close” auction extension is activated and the close time of the auction automatically extends to 2:09 p.m. The “Dynamic Close” auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the auto extend time frame and which time the auction will close. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.
Bidder Verification: The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Rowell Auctions, Inc. reserves the right reject the registration, and bidding activity is subject to termination.
Real Estate Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Rowell Auctions, Inc. Successful bidders will deposit 15% of contract price in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.
10% Buyer's Premium Example:
Bid Price: $100,000
Plus 10% Buyer's Premium: $10,000
Total Contract Price: $110,000
Real Estate Contracts: Contract Packages will be sent by e-mail to the successful high bidder at the conclusion of the auction. Successful high bidder must execute and fax, email or hand deliver the package back to Rowell Auctions, Inc within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed 'Contract for Sale of Real Property' and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the 'Contract for Sale of Real Property'. All administrative fees are non refundable.
Real Estate Closing: Time being of the essence, these sales shall be closed on or before January 18th, 2016 or 30 days from bankruptcy court approval, whichever is later. The purchaser will pay for all closing costs associated with the transaction. The 2015 ad valorem taxes will be paid by the Seller and the 2016 ad valorem taxes will be responsibility of the Purchaser. (Please refer to the Contract for Sale of Real Property).
Equipment Terms :
All items sell “as is, where is” with no guarantees or warranties express or implied. All purchases are considered verified by the purchaser as to grade and authenticity. The purchaser will rely solely on his/her judgment in any purchase. Equipment sales are subject to bankruptcy court approval.
* Due to vandalism, copper wiring has been removed from the building and some equipment. Seller/ Broker makes no representations as to condition of wiring in building or equipment. Onsite inspections are encouraged and recommended prior to bidding.
The successful Purchaser(s) will make payment in full at the close of the auction. A 10% Buyer’s Premium will be added to the bid price to obtain the contract price. Sales tax of 8% will be charged on all applicable purchases. Dealers buying for resale may be exempt from paying sales tax if the dealer has the sales tax number and signs the sales tax exemption form. Acceptable payment includes cash, wire transfer and certified check. Payment by credit card not accepted.
Equipment/ Real estate Combinations
If equipment sells in combination with the real estate tract on which it is situated, the equipment purchase and real estate purchase will be combined under the terms of the real estate transaction. The winning bidder will make the 15% earnest money deposit with the balance due at closing for both the equipment and real estate.
On all equipment electrically hard wired to the building it is the purchaser’s responsibility and expense to disconnect power at the nearest junction box. All exposed wires must be capped with wire nuts and taped.
Upon the close of the auction and full payment successful purchasers may pay and retrieve equipment via scheduled retrieval time with Rowell Auctions Coordinator Mark Manley. Cell# 229-891-1377/ Office # 229-985-8388. Possession of the personal property will be granted upon final payment. NO EXCEPTIONS. All equipment must be removed by January 31st, 2016.
Onsite inspections are encouraged and recommended.
Rowell Auctions, Inc. will not provide cranes or rigging services.
*Equipment purchasers are required provide proof of insurance along with a liability waiver in amount of one million with Seller/ Broker designated as loss payee prior to removal of any equipment from the premises.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the
responsibility of the bidders to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid on the Seller’s behalf. On all other auctions, auctioneer reserves the right to bid on auctioneer’s behalf when permitted by law.
Two Ware House Buildings, Hwy 96, Reynolds
Directions: From downtown Reynolds at the intersection of Fall Line Freeway (GA Hwy 96) and GA Hwy 128, travel west on Fall Line Freeway for .7 miles to the property on the right. Watch for Auction Signs!
Warehouse Building, Sumter Street, Reynolds, GA
Directions: From downtown Reynolds at the intersection of Fall Line Freeway (GA Hwy 96) and GA Hwy 128, travel west on Fall Line Freeway for 1.1 miles. Turn right onto Sumter Street and travel .7 miles to the property on the left. Watch for Auction Signs!
Shaw Gin & Cotton Company, Butler Road Reynolds, GA
Directions: From downtown Reynolds at the intersection of Fall Line Freeway (GA Hwy 96) and GA Hwy 128, travel west on Fall Line Freeway for 1.1 miles. Turn right onto Sumter Street and then immediately into the gin property. Watch for Auction Signs!