LENDER OWNED ONLINE ONLY PROPERTY AUCTION
6,026± SF Former Restaurant on a 1.04±Acre Lot
4627 Williamson Rd NW, Roanoke (Roanoke County) VA 24012
Online Only Auction
Bid Deadline Wednesday, October 7th, 2015 at 1 PM ET
For property information, auction terms, bidding instructions, and updates, go to www.auctionEbid.com
TOLL FREE 877-980-9565
Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, Greater of 10% or $2,500 EM Deposit, close in 30 days.
- The vacant property was built in 1976 and has been utilized as a Hooters restaurant from 1996 untilrecently. The 6,026+- sf building is located on a 1+/- acre site zoned CG-Commercial General, at the corner of Williamson Road (183 feet of frontage, one curb cut) and Oaklawn Avenue (262 feet offrontage, one curb cut). There are a total of 66 marked parking spaces on the site. It is denoted as City of Roanoke Parcel Number 2170301.
- An October 23, 2006 ESA found no onsite RECs on the property.
- Because the property was built in 1976, it is possible there are lead based paint and asbestos containing materials in the building.
- Parcel ID: 2170301; Zoned: CG
- PROPERTY TOUR: Monday, September 28 from 12pm-2pm
This Auction is being conducted in cooperation with Auction Management Corporation
1827 POWERS FERRY ROAD, BLDG. 5
ATLANTA, GA 30339
770-980-9565
AUCTION REGISTRATION: In order to register for the auction, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. The online registration form will need to be completed before online bidding is enabled. In addition, you must provide proof of funds from your bank that you have sufficient funds to cover the required earnest money down payment in order to obtain a bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to info@auctionebid.com at least 24 hours prior to the auction. Proof of funds consists of a copy, fax, or original of a current bank statement in bidder’s name showing sufficient funds for 15% earnest money deposit.
AUCTION INFORMATION: All available material and updates are posted to www.auctionEbid.com. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 877-980-9565, or by visiting the website.
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 $10,000 bid, plus the 10% ($1,000) buyer's premium, equals the $11,000 final purchase price.
CONDUCT OF THE AUCTION: Register to bid at our website at www.auctionEbid.com. Online bidding will begin one week prior to the auction. The auction ends when the highest bid is recognized by the auctioneer. Bid increments and bidding methodology are subject to change at the sole discretion of auctioneer.
EARNEST MONEY REQUIREMENT: Immediately following the auction, the successful bidder must deliver earnest money via wire transfer to escrow agent immediately following the auction, in the amount of ten (10%) of the purchase price (calculated by adding the high bid amount plus a 10% buyer’s premium). Balance will be paid in full at closing. Successful bidder will be notified immediately following the closing of the auction and emailed the sale contract, to sign and return immediately upon receipt. If you have questions, you may contact Heidi Googe at heidi@auctionEbid.com or 404-821-8069.
PURCHASING AND CLOSING: Buyer shall execute an Auction Purchase and Sale Agreement (“Auction PSA”) 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 theproperty 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.
Earnest Money for a successful online bidder must be in the form of wire transfer only.
Closing must occur no later than Friday, November 6, 2015 unless extended in writing by mutual consent of the parties. Balance of purchase price will be paid in full at closing. Buyer not closing within the contractual time period to close will forfeit his/her earnest money deposit.
BROKER PARTICIPATION INVITED: A broker commission of one percent (1%) of written opening 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/ Written Opening Bid form available as a download at the AMC website listing for this asset prior to bidder 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 published auction date. 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. In the event a Prospect makes initial contact with Auctioneer, a Broker Registration will be disqualified.
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.
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 bealf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (770) 980-9565.
TITLE: Property sold is subject to all matters of record, including, without limitation, recorded easements, existing roads and planned roads, power line and other utility easements, ingress and egress easements, and other easements of record.
BUYER'S NOTE: Auctioneer reserves the right to add or delete property from this auction or to alter the order of sale from that published herein. 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 Special Warranty Deed. Sale shall be closed at the designated office of First American Title Insurance Company, (“Closing Agent”), as noted in Auction Purchase & Sale Agreement, or as announced at the auction. Closing may occur remotely through overnite, email, and wire transfer. Each party shall pay its own attorneys’ fees. 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) reasonable title corrective expenses, in Seller’s sole determination; (3) 0% of closing fees charged by Closing Agent; and (4) Prorated property taxes as set forth in the Purchase and Sale Agreement and back taxes due, if any. All other closing costs, including but not limited to surveys, title examination, title insurance, transfer taxes, 100% of closing fees charged by Closing Agent, loan closing costs, and purchaser’s attorney fees are at the expense of the Buyer.
Information was gathered from reliable sources and is believed to be correct as of the date this material 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. Unless advertised and promoted as an Absolute Auction, all assets herein are sold subject to Seller confirmation. Seller and its agents reserve the right to bid up to the amount of Seller’s published or unpublished reserve price, at Seller’s sole option. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through.
Auction Management Corporation
1827 POWERS FERRY ROAD, BLDG. 5
ATLANTA, GA 30339
770-980-9565
www.auctionEbid.com
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