Name 7-15-2017 Real Estate Reserve Auction 111 Pin Oak Beaufort
Auctioneer Brown & Thigpen Auctions
Type Online-Only Auction
Date(s) 6/15/2017 - 7/15/2017
06/15/2017 - 07/15/2017 Online Only Bidding Auction ends 07/15/2017 at 8:00 PM with extended closing.
Preview Date/Time Vacant Lot View on your own.
Checkout Date/Time Winning bidder must sign the purchase contract and deliver 10% earnest money deposit by 4PM on July 16, 2017. Buyer must be ready to close the sale by August 16, 2017.
Location 111 Pin Oak Court
Beaufort, NC 28518
Buyer Premium 13% BP, 10% for Cash/Check
Description
· ONLINE BIDDING ONLY - RESERVE AUCTION - Real Estate -111 Pin Oak Court, Beaufort, NC 28516. · This 2.248 acre lot with 149' water front on the Neuse River and 140' on Pin Oak Court. It's only 1,300' from Merrimon Bay home owners’ association boat ramp and dock. Paved streets & underground power to lot. Will need well & septic system installed. Owner has septic permit. Online auction sign on property and at each turn from US-70 at Merrimon Rd stop light. 26 miles from Morehead and 22 miles from Beaufort, NC 28516 This will be a online reserve auction ending July 15, 2017 at 8 PM with a 10% buyer's premium with Brown & Thigpen http://www.auctionzip.com/online-auctions/?country=US&pageNum=1&catID=MU8Q47S BT3 · Agent Remarks: This 2.248 acre lot with 149' water front on the Neuse River and 140' on Pin Oak Court. It's only 1,300' from Merrimon Bay home owners’ association boat ramp and dock. Paved streets, underground power, needs well & septic system but has septic permit. Online auction sign on property. 26 miles from Morehead and 22 miles from Beaufort, NC 28516 · Legal: L137 MERRIMON BAY SEC 2A · Carteret County Tax Pin #740500562874000 · Showing Instructions: Vacant lot with direction signs from US-70 hwy · Appointment Contact: Doug Brown, NC Realtor #39199 · 910-298-4464 · Directions to Property: From Beaufort take US-70 4.4 miles to stoplight (where US-70 takes a right) keep straight on Merrimon Rd at stop light for 12.2 miles then turn left to stay on Merrimon Rd. go 1.4 miles and road name changes to 4-H Rd. go 1.1 miles turn right onto Merrimon Bay Drive go .5 miles, turn right onto Garbacon Dr. go 2.5 miles turn left onto Pin Oak Court and lot is on your left. · Property sells to the highest bidder over the reserve price of $114,100.00 plus 10% buyer premium. Any inspections must be completed before you bid. Sold as is. Free and Clear deed will be delivered to buyer at closing.
Terms and Conditions · Questions: All questions should be directed to Doug Brown, Principal Broker - Auctioneer. Brown & Thigpen Auctions 910-285-9955 (office) & Brown & Kennedy Construction Co. Inc dba Brown Realty & Auctions. Office 910-298-4464 or (Mobile) Doug Brown Broker/Auctioneer 910-289-0523 Open for Inspection at anytime. · Registration: Registration is free but does require several important pieces of information. Bidders must be registered with a full name, address, and telephone number. An email address is also required so bidders may be sent bid notifications. Information from a Credit Card must be entered and verified - this information is obtained to deter defunct bidding. Registration may only be completed with an acknowledgement that the bidder has read and understood all terms and conditions for the sale and online bidding. To Register, first READ ALL TERMS & CONDITIONS. Then click on the link at the top of page to register. · Penalties: Any bids found to be fraudulent will result in all appropriate legal action. Delinquencies will also prevent the individual from participating in any further auctions conducted by Brown & Thigpen Auctions and or Brown & Kennedy Construction Co. Inc dba Brown Realty & Auctions. · Buyer’s Premium: A 10% buyer’s premium will be added to the winning bid to determine the final contract selling price. For example, if the closing bid is $125,000, the Buyer’s Premium would be $12,500 resulting in a final contract selling price of $137,500.00. Bidding: · Bidding: Online bidding is to be understood as a binding contract. Bids will be taken with the understanding that the bidder will honor their winning bid with sufficient funds in the specified time frame. Notification of the winning bid will be made immediately at the auction's close. · Online bids can be made using two methods: “Your Bid” and “Your Maximum Bid.” “Your Bid:” This feature allows the bidder to input a single bid as in a live auction. For example: the bid is currently $50,000 placed by bidder A. Bidder B wishes to bid $51,000. By placing a bid of $51,000 in the “Your Bid” box, Bidder B now has the current winning bid of $51,000. If Bidder A wishes, he/she may bid again, continuing the auction cycle. “Your Maximum:” This feature does your bidding without the bidder having to constantly view, log in, and bid. Setting a maximum online is much like coming to a live auction with a preset spending limit in mind. The program will bid for you, in the prescribed increments, and only up to your spending limit for the item. For example: the current bid is $40,000 with Bidder A having the winning bid. Bidder B wants to place a bid and is willing to bid as much as $62,000. If Bidder B places a maximum bid of $62,000 the bid rises only to $40,250. Bidder A returns to the property online and places a maximum bid of $41,000. The program automatically does the bidding: A-$40,500, B-$40,750, A-$41,000, B-$41,250. The bidding stops at $41,250 with Bidder B winning because the next bid would be $41,500, which is more than Bidder A’s limit. Maximum bid amounts are kept confidential. · Bidding Increments: Online bids are in increments. $100 increment up to $49,999, $250 increments up to $99,999. · Close of Bidding: Bidding is scheduled to close beginning at 8:00PM Eastern Time, Saturday July 15, 2017 with Extended Bidding. · Extended Bidding (soft close): The close of bidding will be subject to extended ending, whereas, at the close of the auction, any bidding activity will automatically extend the closing for 5 minutes. The bidding will continue to remain open as long as there is activity within 5 minutes of the previous bid. If there is no bidding activity within another 5 minutes, bidding will then be closed. · Contract Execution: Following the auction, the successful bidder will be emailed a purchase agreement for electronic signatures to be signed and acknowledged no later than 4:00pm EST, Monday, July 17, 2016. A copy of this required purchase agreement is available for review online on the bidding page. The purchase agreement cannot be changed or altered in any way. · Down Payment: The buyer shall make a non-refundable down payment of 10% of the contract amount to Brown Realty Escrow. The down payment must be received by Brown Realty & Auction, no later than 4:00PM ET on Monday, July 17, 2017. The down payment may be in the form of cash, official bank cashier’s check, or wire transfer. · Closing: Closing must be on or before January 16, 2017, at which time the Buyer shall pay the balance of the purchase price. Buyer and Seller shall pay their respective closing costs as is common and customary to Carteret County, North Carolina. · Disclaimer: Any and all documentation provided in preparation for this auction has been obtained and forwarded in good faith to potential bidders for their convenience and information only. Such information is not warranted and as such the Auctioneer and Broker shall not be held liable for inaccuracies in the information. Potential buyers are encouraged to obtain or verify, before the close of bidding, any information they consider critical to their decision to purchase. · Online bidding is offered as a courtesy. The Auctioneer, Broker, Agent, Brown & Thigpen Auctions as auctioneer, Seller, and the internet and software providers do not guarantee or warrant the online bidding procedure and/or system to operate without interruption or malfunction. · Taxes: All real estate taxes due and payable in the calendar/fiscal year of closing shall be prorated between Buyer and Seller as of the date of closing as is common and customary to Carteret County. · "As-Is” Condition: Property is being sold and purchased in “as-is” condition, “with-all-faults”, with no guarantees or warranties of any kind as to condition, fitness, use, or future use of the property and with all defects, apparent, non-apparent and latent. BUYER hereby acknowledges that they have had the opportunity to inspect and research all aspects of the property to their complete and full satisfaction prior to bidding. All information provided in advertising and otherwise is believed correct, but is not guaranteed. Potential buyers are welcome to have any inspections they desire prior to the auction. The sale will not be contingent upon any inspection, either prior to or after signing of the Auction Purchase Agreement. ANY AND ALL INSPECTIONS MUST OCCUR BEFORE YOU BID. · Real Estate Information Documents: See the individual item description on the bidding page for links to real estate information documents. · Broker Participation: A broker or agent whose client is the buyer of the real estate may be entitled to a 3% broker co-op fee as determined under guidelines of the Cape Fear Multiple Listing Service. If co-op broker is not a member of Cape Fear Multiple Listing Service a co-op agreement form must be presented to listing broker in advance of prospective purchaser bidding on the property. · Penalties: Any bids found to be fraudulent will result in all appropriate legal action. Delinquencies will also prevent the individual from participating in any further auctions conducted by Brown & Thigpen Auctions and or Brown & Kennedy Construction Co. Inc dba Brown Realty & Auctions. · Bid Increments: Your bid must adhere to the bid increment schedule. Bid Amount Bid Increment 100.00 - 499.99 10.00 USD 500.00 - 999.99 25.00 USD 1,000.00 - 9,999.99 50.00 USD 10,000.00 - 49,999.99 100.00 USD 50,000.00 - 99,999.99 500.00 USD 100,000.00 - 249,999.99 1,000.00 USD 250,000.00 - 499,999.99 5,000.00 USD 500,000.00 - 999,999.99 7,500.00 USD 1,000,000.00 - 9,999,999.99 10,000.00 USD NCAL FIRM #7363
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 499.00 10.00 USD
499.01 - 999.00 25.00 USD
999.01 - 9,999.00 50.00 USD
9,999.01 - 49,999.00 100.00 USD
49,999.01 - 99,999.00 500.00 USD
99,999.01 - 249,999.00 1,000.00 USD
249,999.01 - 499,999.00 5,000.00 USD
499,999.01 - 999,999.00 7,500.00 USD
999,999.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 13% BP, 10% for Cash/Check
Payment Terms
Terms: Cash, Check, Debit & MasterCard/Visa.13% BUYER'S PREMIUM, 10% for Cash/Check . Announcements day of sale take precedence over printed material. Preview on your own. 910-285-9955. NCAL #7363 www.brownandthigpenauctions.com
All items are to be sold "As Is/Where is".