PUBLIC ONLINE AUCTION - Residential Property

325 Ashton Park Drive; Millbrook, Alabama (Elmore County)

Selling By Order Of The U.S. Bankruptcy Court

Selling Subject to the approval of the Bankruptcy Courts

Online Only Auction

Bidding Ends Tuesday Aug. 30th @ 2:PM

Great Location Convenient To I-65

House Has Nice Inground Pool and Adjoins The Pines Golf Course

Features Include:

4 Bedrooms, Each With Walkin Closet Except Master Bedroom Which Has 2 Walkin Closets

3 & 1/2 Baths Including Master

Great Room

Dining Room

Kitchen With Breakfast Area

12x24 Inground Pool

Screened In Back Porch (needs re-screening

2 Car Garage with Storage Room

Schools: Coosada Elementary, Airport Road Intermediate, Millbrook Middle, Stanhope H.S.

NOTE: This House Needs Minor Repairs Including But Not Limited To Paint And New Carpet, Dishwasher, & Swimming Pool Pump Motor.

This house will be SOLD IN AS IS CONDITION with any and all faults. All information has been derived from sources believed to be correct but is not guaranteed by the Seller or Pearce Auction Company. It is Highly Suggested that prospective purchasers view the property prior to bidding.

INSPECTION DATES:

Friday Aug. 12th, 4-6:PM

Friday Aug. 19th, 4-6:PM

Tuesday Aug. 30th, 12:00 Noon - 2:PM

For More Information:

205-664-4300 (Office)

251-600-9595, Pete Horton, Auction Manager

Real Estate Broker | Auctioneer AL #213

Licensed In Alabama & Florida

AUCTION TERMS AND CONDITIONS:

REAL ESTATE AUCTION

By order of the United States Bankruptcy Courts

These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.

Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.

The property will be sold by legal description and transferred by statutory warranty deed.

Property sells subject to court approval.

The trustee reserves the right to accept or reject the final bids. The trustee reserves the right to continue the auction indefinitely without other or further notice.

A 10% buyers premium will be added to the winning bid to determine the final sales

price.

Example: $100,000 bid, plus $10,000 (10% buyers premium) equals $110,000 gross sales price.

The terms are 10% down payment with the balance due within 30 days.

Purchaser to receive possession of the property upon delivery of deed at closing.

Purchaser to pay closing cost and title insurance. Seller guarantees

title to be free and clear.

Ad Valorem taxes will be prorated at closing.

PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.

BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “AsIs” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure of any bidder to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of a bid, offer or earnest money after its opening or tender.

All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.

Default by the Seller: If the Sellers are unable to make conveyance and to give title as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.

Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.

AGENCY DISCLOSURE: Larry “Chip” Pearce Jr. has not been an agent for the Buyer in this transaction. Larry “Chip” Pearce Jr. has been an agent for the Seller in this transaction and is to be paid a commission by the Seller.

The Auctioneer reserves the right to reject bids from anyone who does not comply

with the terms and conditions of this auction.

Bidding: Bidding info- When you bid your max the current bid price doesn't automatically go to your max bid. Someone else has to bid to increase the current price and thcomputer will automatically bid up to your max in the increments specified.

This auction has what is called an auto extend feature, meaning the auction will not close until all bidding parties are satisfied. If any bids are placed within the last 5 minutes of the auction, the bid on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes.

Selling for US Bankruptcy Court; 325 Ashton Park Drive; Millbrook, AL