Estate Auction

Selling on Behalf of the Roy A. & Nell Hendrick Estate

8,000+/- SF Showroom, Warehouse & Lot

839 Beecher Street, SW Atlanta, GA   30310

SELLING ON SITE

Wednesday, November 4^th @ 11am

839 Beecher Street, Atlanta (Fulton County) GA   30310-2717

Auction Date:  Wednesday, November 4^th @ 11am

Auction Location:  Property will be sold onsite.

Property Description:  8,000+/- SF renovated light industrial building with showroom, warehouse, and adjacent lot.  Building contains two offices, conference room, kitchen, 3 bathrooms, and side roll-up door.  The property will be sold with an adjoining vacant lot.  The total lot size for both tracts is .47+/- acres.  Property is near I-20/downtown Atlanta and is in the West End Historical area & Atlanta’s Beltline District. 

Property Inspection:  Call Scott Schwartz @ 404-550-3490 to schedule an appointment.

Property Directions:  From I-85/I-75, take I-20 West, take the Lee Street Exit, left on Lee Street, right on Beecher.

Terms:  10% Buyers Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, closing within 30 days from acceptance of contract.

Closing Attorney:  Sylvia Morrow-Nocon.  Seller to pay ½ of closing attorney fees.

Broker Co-Op: 2% Commission Paid to Properly Registered Brokers, see BROKER PARTICIPATION section in TERMS for details.

For additional property information, auction terms, and contract form, visit www.auctionEbid.com

Questions? Visit www.auctionEbid.com or call 770-980-9565, TOLLFREE 877-980-9565

1827 POWERS FERRY ROAD, BLDG. 5

ATLANTA, GA   30339

770-980-9565

www.auctionEbid.com

Questions? Visit www.auctionEbid.com or contact Scott Schwartz @ 404-550-3490 or email, scott@auctionEbid.com

AUCTION TERMS AND CONDITIONS:

AUCTION REGISTRATION:  Registration to begin one hour before the auction.  Bidders must bring a valid government-issued identification to register.

AUCTION INFORMATION & OFFICES: All available material and updates are posted to www.auctionEbid.com . Additionally, the auction information offices are located at 1827 Powers Ferry Road, Building 5, Atlanta, Georgia 30339, phone (770) 980-9565 Fax: (770) 980-9383. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling the office, or by visiting our website at www.auctionEbid.com.

BROKER PARTICIPATION INVITED: A broker commission of two (2%) of winning bid will be paid to the properly licensed broker whose prospect purchases and closes on the real estate. To qualify for a commission, the Broker must register by mail, email, fax or hand delivery the prospect’s name and address on the Broker Registration form available as a download at the AMC website listing for this asset  prior to online registration. The form must be signed by the prospect and the Broker, and must be received at the office of Auction Management Corporation no later than 48 hours prior to the bid deadline. Broker must also be present with their prospect during bidding and sign the Auction Real Estate Sales Contract if their client is the winning bidder.  Commissions to be paid only upon closing.  A Broker cannot act as a principal and a broker on the same transaction.

TERMS OF SALE FOR REAL ESTATE: Winning bidders will pay an earnest money deposit of ten (10%) of the purchase price (bid amount plus buyer’s premium). Upon conclusion of the bidding, Buyer will sign an Auction Purchase and Sale Agreement (“PSA”).  Upon contract acceptance, the earnest money deposit is non-refundable.

Closing must occur within 30 days, unless extended in writing by mutual consent of the parties. Buyer not closing within the contractual time period to close may forfeit his/her earnest money deposit. Buyer shall execute an Auction Purchase and Sale Agreement for the property immediately after being declared the successful bidder by auctioneer. A form Auction PSA is available at our website and at the auction site prior to the auction. The Auction PSA which Buyer must sign at the auction contains an acknowledgment that Buyer has inspected the property prior to the auction, is relying solely on his/her inspection, and is purchasing the property As Is with all faults and without reliance on any warranty of any kind whatsoever. NO CHANGES WILL BE MADE TO SAID AUCTION PSA OR ANY EXHIBITS ATTACHED THERETO, AND BUYER WILL BE OBLIGATED TO EXECUTE AND DELIVER SAID AUCTION PSA ON AUCTION DAY. Provided, however, Seller reserves the right to modify or amend said Auction PSA, to complete blank sections, to attach appropriate exhibits, and to comply with state and local laws as may be enacted or amended from time to time. All payments (ie, Earnest Money, Closing Funds) must be in the form of cash, wire transfer or cashiers check only.

PRE AUCTION OFFERS:  Must be on cash terms, and must be submitted to Auctioneers no later than 48 hours prior to each auction.

BUYER'S PREMIUM: Property will be sold with a ten (10%) percent buyer's premium. The bid amount plus buyer's premium equals the final purchase price. For example: A $1,000 bid, plus the 10% ($100) buyer's premium, equals the $1,100 final purchase price.

FINANCING: Please note that financing is NOT a contingency of this transaction. Because financing is NOT a contingency, all potential bidders must make certain in advance that they are capable of obtaining the necessary financing to close the transaction.

PLATS/SKETCHES/DRAWINGS AND PHOTOS: Are not to be relied on. Existing legal descriptions are not guaranteed for complete accuracy. All acreage and dimensions are approximate and could be subject to change upon an actual field survey. All stakes, signs or flags indicating boundaries or location are for general location purposes only and are not to be construed as precise property corners.

KEYS:  Neither Auctioneer nor Sellers warrant key availability on any property.  If available, keys will be provided at closing.   However, Buyers are strongly advised to re-key the properties immediately after closing.

AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (770) 980-9565.

TAX EXCHANGE: Sellers and Purchasers agree that certain Sellers may effectuate 1031 Tax Exchanges on certain properties sold herein. Buyers will agree to cooperate and execute necessary documents to enable Sellers to consummate said transactions.  

EASEMENTS: All property sold is subject to recorded easements which include existing roads and planned roads, power line and other utility easements, ingress and egress easements, and other easements of record.

BUYERS NOTE: Auctioneer reserves the right to add or delete property from this auction or to alter the order of sale from that published herein. Personal on-site inspection of the property is strongly recommended. Failure to inspect property prior to auction does not relieve purchaser of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by limited or special warranty deed. Only the following sale closing costs will be paid by seller: (1) Commissions or brokerage fees to auctioneer and/or cooperating Brokers as set forth in separate agreement with auctioneer, and as established in these Terms and Conditions; (2) Tax Stamps (unless Seller is exempt); (3) reasonable title corrective expenses, in Seller’s sole determination; and (4) Prorated property taxes and back taxes due, if any. All other closing costs, including but not limited to surveys, title examination, loan closing costs, and closing attorney fees are at the expense of the Buyer. All properties must close at the offices of the Seller- designated attorney announced by Auctioneer at the auction of each property. Unless noted otherwise, Buyers pay all closing fees charged by Seller-designated closing attorneys. Information was gathered from reliable sources and is believed to be correct as of the date this brochure is published, however, this information has not been independently verified by sellers or auctioneers. Its accuracy is not warranted in any way. There is no obligation on the part of Sellers or Auctioneer to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. The sellers do not have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property except as expressly set forth in the Auction PSA. There is no minimum starting bid required on any unit. Bid increments are at the sole discretion of auctioneer. Properties which are not indicated in the listings as selling regardless of price are sold with reserve. Bidder acknowledges that Seller and Auctioneer and their employees, agents, affiliates, and associates reserve the right to place bids on properties sold with reserve up to the seller’s reserve price, at their sole discretion. Neither Seller, Auctioneer, nor their representatives may bid above the reserve price. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through.

CLOSING:  Closing will be performed at the offices of closing attorney specified in property listing for each asset, with closing attorney fees to be shared between buyer and seller in accordance with the property listing. .

FOR DETAILED INFORMATION VISIT OUR WEBSITE AT www.auctionEbid.com  or contact:

Scott Schwartz, 404-550-3490, scott@auctionEbid.com

Jeb Howell, 770-980-9565, jeb@auctionEbid.com