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
· 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 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.
Auction Terms & Conditions 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 --------------------------------------------------------------------------------------- Sebae Data Solutions, Inc. SERVICE TERMS AND CONDITIONS ACCEPTANCE OF TERMS Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: USE AND REGISTRATION Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC. REGISTRATION OBLIGATIONS In consideration of your use of the Service, you agree to: (a) provide true, accurate, current and complete information about yourself as prompted by the Service's registration form (such information being the "Bidder Information") and (b) maintain and promptly update the Registration Data to keep it true, accurate, current and complete. If you provide any information that is untrue, inaccurate, not current or incomplete, or Sebae has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Sebae has the right to suspend or terminate your account and refuse any and all current or future use of the Service (or any portion thereof).  DESCRIPTIONS OF SERVICE Sebae provides the following services under the Auction Flex & HiBid trademarks: Integrated Web Service (for auctioneers), internet bidding (absentee, online-only, & webcast). You can learn more about these services in the following sections. HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.  The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.  INTERNET ABSENTEE BIDDING Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction. INTERNET-ONLY AUCTIONS Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction. WEBCAST AUCTIONS Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live". Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid. When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels). The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions. Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration. Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms. BIDDING The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal. Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. Failure to complete transaction without lawful reason is not only a breach of your contract with the Seller but also a breach of this User Agreement. The amount bid can be increased but cannot be decreased. The auctioneer may, at their discretion, allow you to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. You may forward a request to withdraw a bid and resubmit a correct bid by immediately sending an email to the auctioneer, however, there is no guarantee that any bid will be withdrawn. Although Sebae will use best efforts to forward all bids, Sebae does not accept any responsibility for lost bids or problems with the recipient auctioneer's ability to process your bid. Moreover, Sebae cannot guarantee that bids received will be processed by the individual auctioneers. Please note that Sebae's role is limited to the provision of the Site for dissemination and publication of information provided by the Sellers. THE WINNING BID The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid. NOTICE OF END OF SALE, PAYMENT & SHIPPING After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions. BUYER'S PREMIUM, TAXES AND DUTIES If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. Accordingly, it is your responsibility to check the applicable taxes and duties that may be imposed on an Item prior to bidding for it. PRIVACY We do not sell or rent your personal information to third parties for their marketing purposes without your explicit consent and we only use your information as described in the Privacy Policy. 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Sebae makes no warranty that (i) the service will meet your requirements, (ii) the service will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the service will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and (v) any errors in the software will be corrected. c. Any material downloaded or otherwise obtained through the use of the service is done at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that results from the download of any such material. d. no advice or information, whether oral or written, obtained by you from Sebae or through or from the service shall create any warranty not expressly state in the TAC. 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Accordingly, some of the above limitations of of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to you. INDEMNITY You agree to indemnify and hold Sebae harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party. LEGAL COMPLIANCE You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of our service and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of items. GENERAL INFORMATION The TAC constitute the entire agreement between you and Sebae and govern your use of the Service, superseding any prior agreements between you and Sebae. The TAC and the relationship between you and Sebae shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. You and Sebae agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Marion, Florida. The failure of Sebae to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Service or the TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred.
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
All items are to be sold "As Is/Where is".