To our bidders & consignors, You have probably noticed that our bidding platform has changed. We have switched to a new system that has tons of new features that will help improve your bidding experience.
All previous bidders will use their same username & password.
You will need to update your credit card on file the first time you register for an auction
At 9:42 AM on Auction Day (August 10th) Please enter the live auction by clicking the blue enter auction box in the light blue box. If you can't hear the auction please click view live stream above lot picture.
To protect the integrity of the auction, Registration for Online Bidding will cease 10 minutes prior to the Live Auction starting.
METHOD OF SALE/UNDERSTANDING AUCTIONS
Dempsey Auction reserves the right to offer the property any way we see to obtain the SELLER the most money.
Tentative Order of Sale:
- Houses Pick and Choice
- Land Tract
- Combination Phase
- As a Whole
The Real Estate will be offered in tracts, combinations of tracts, and as a whole. We reserve the right to then offer the property in combinations and/or as a whole.
This will be an Absolute auction which means the property sells regardless of price.
The house tracts will be sold by the dollar and the land tract will be sold “BY THE ACRE”.
Buyers will be bidding by “ACRE Amount” for the land tract. For example, bidding $5000 on a 5-acre tract, would mean your total bid price is $25,000.
When the auctioneer says sold, the buyer will then tell us which Tract or Tracts he wants.
At this point, the auction starts over again until we are finished.
We are not designating what lots we are selling, you as the purchaser tell us which lot or lots you want when we say sold!
This is a 10% Buyers Premium auction sale: If you pay $10,000 for a Tract you must add 10% which is $1,000 and your final sales price is $11,000.
Sale day you will pay 10% of your sales price down and the closing can be on or before 30 days. We have already had the title run and we find many of our customers want to close on the following week of the sale so that they may take possession of their property, and we can assist you with that.
Helpful Tips to Keep in Mind Before & During Your Bidding Process
- · Dempsey Auction Company reserves the right to remove or cancel the bids and or bidding privileges of the party at any time deemed not to be in the best interest of the seller.
- · All properties are sold “as-is” without any further inspections or repairs.
- · An auction is not contingent on inspections or physical warranties; all inspections must be done prior to bidding
- · An auction is not contingent on financing; funds must be readily available in order to bid and purchase at auction and close within 30 days
- · You must sign the Sale Contract of Real Estate immediately following the live auction upon receipt of your contract package from Dempsey Auction Company.
- · You must make an earnest money deposit and execute the Sale Contract of Real Property within 24 hours of receipt of your contract package from Dempsey Auction Company (ONLINE BIDDERS ONLY).
- · You must close on the transaction on or before the date stipulated in the Terms and Conditions Real Property— there are no financing or inspection contingencies or other delays allowed.
- · You are not allowed possession of the property until after closing. NO EXCEPTIONS.
- · You will also be responsible for all of the closing costs. (Please refer to Terms and Conditions).
- · All properties are subject to prior sale or removal from the auction.
- · Again, please read and review the terms and conditions. It is the document that controls this auction.
- · When logging in to bid, please check your account to make sure your information is up to date. Email address, phone numbers, address, credit/debit card, and driver's license, etc... to make bidding easier. If you need help updating your information or if you are a new customer and need assistance setting up an account, feel free to call our staff at 7062660717 (ONLINE BIDDERS ONLY).
- · Dempsey Auction reserves the right to offer the property any way we see to obtain the SELLER the most money.
- · This is an absolute auction which means the real estate sales regardless of price.
- · This is a 10% Buyers Premium auction sale: If you pay $100,000 for the property you must add 10% which is $10,000 and your final sales price is $110,000.
- · At the conclusion of the auction, successful bidders will pay 10% of the sales price down and the closing can be on or before 30 days. We have already had the title run and we find many of our customers want to close on the following week of the sale so that they may take possession of their property, and we can assist you with that.
- · DEFAULT: In the event a winning bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Co and the Sellers as provided in the Terms and Conditions and the Sales Contract.
- · All property, real and personal, is selling “AS IS, WHERE IS” and being conveyed by Seller as provided for below. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition; and any repairs, alterations, damage, cleanup, removal of debris, waste, personal property, etc., are the sole responsibility of the buyer. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Seller nor the Auction Company makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that he/she has inspected the Property and is not relying on any warranty or representation of the Seller, Auctioneer or any agent thereof. Buyer acknowledges and agrees that at closing there may be the existence of equipment, personal property and/or scrap materials located upon or within the property and agrees to accept the same in AS IS condition.
There are no bids for the lot at this time
Saturday, August 10, 2024 at 10:00 am Central — SELLING ON-SITE: 7985 County Rd 16, Centre, AL 35960
CENTRE, CHEROKEE COUNTY, AL
Income-Producing Properties with Prime Row Crop Land
Discover an exceptional investment opportunity near the Alabama/Georgia line with these income-producing properties and expansive row crop land. Located on County Road 16, each property offers convenience, comfort, and potential for growth.
Property #1 – 7935 County Road 16
- 2 Bedrooms, 1 Bath: This charming home provides cozy living spaces ideal for tenants seeking comfort and convenience.
- Spacious Yard: Enjoy ample outdoor space, perfect for recreation and relaxation.
- Utilities: Connected to Cave Spring water, Cherokee Electric Power, and accessible cable services from various providers ensure modern amenities.
Property #2 – 7985 County Road 16
- 3 Bedrooms, 1 Bath
- Renovation Opportunity: Ready for your personal touch, this property invites creative renovation to unlock its full potential, ideal handyman special!
- Expansive Yard: A large yard enhances the property’s appeal, providing room for outdoor activities and enjoyment.
- Modern Amenities: Enjoy the convenience of Cave Spring water, Cherokee Electric Power, and cable availability for connectivity needs.
Property #3 – 8015 County Road 16
- 2 Bedrooms, 1 Bath: Designed for comfortable living, this home boasts a practical layout suited for various tenant needs.
- Generous Yard Space: Similar to the other properties, a spacious yard complements the home’s setting, offering outdoor possibilities.
- Utilities: Benefit from reliable Cave Spring water, Cherokee Electric Power, and access to cable services for modern living essentials.
Prime Row Crop Land
- 45-Acre Tract: This expansive parcel of row crop land presents an opportunity for agricultural investment and income generation.
- Ideal Location: Situated conveniently near the Alabama/Georgia line, the land benefits from strategic positioning for agricultural operations.
Investment Potential Whether you’re seeking income from rental properties or looking to capitalize on agricultural ventures, this portfolio offers a diverse range of opportunities. Don’t miss out on this chance to acquire income-producing properties and prime row crop land in a desirable location. Contact us today to explore these properties and seize your investment potential on County Road 16.
TERMS AND CONDITIONS
45.65± Acres & Improvements
Cherokee County, Alabama
August 10, 2024
These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “B”, which will prevail over this document and any other agreement between the buyer and seller.
CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a listing agreement with David E. Wallace & Melinda A. Ryan, TO OFFER AT ABSOLUTE AUCTION, 45.65± acres and any improvements thereon.
All property, real and personal, is selling “AS IS, WHERE IS” and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability or environmental conditions including, but not limited to, any hazardous substances, hazardous waste, petroleum or petroleum by-products concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Seller makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that he/she has inspected the Property and is not relying on any warranty or representation of the Seller, Auctioneer or any agent thereof. For compliance with Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992, interested purchasers have had ten a (10) day inspection period prior to the auction for assessment of possible lead-based paint hazards.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the auction.
The Seller has the right, at their sole discretion, to add or withdraw all or any portion of the property before the auction’s opening announcement on Saturday, August 10th at 10:00 AM. This property is selling at ABSOLUTE AUCTION to the highest bidder.
RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to any and all Restrictions, Public Utilities, Encroachments, Zoning Ordinances, Protective Covenants as attached to the sales contract, Cherokee County Regulations, any Existing Easements or Right of Ways, and all other matters now of record or shown on attached plat. All personal property, equipment and crops are reserved. We are selling subject to the rights of the tenants at will, if applicable.
PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Co. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.
ONLINE PURCHASER’S PAYMENT: At the close of the auction, successful online bidders will be emailed a sales contract package to execute and return to Dempsey Auction Co. Successful online bidders will deposit 10% of the Contract Price as earnest money in the form of cashier’s check or bank wire transfer with Dempsey Auction Co within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Terms and Conditions”. The purchaser shall be responsible for all wire transfer fees. Successful online high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Dempsey Auction Company is providing online bidding as a service to Bidder. The bidder acknowledges and understands that this service may or may not function correctly on the day of the auction. Under no circumstances shall Bidder have any kind of claim against Dempsey Auction Company or anyone else if the internet service fails to work correctly. Dempsey Auction Company will not be responsible for any missed bids from any source.
DEFAULT: In the event a winning online bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning online bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Co and the Sellers as provided in the Terms and Conditions & Sales Contract.
SURVEY: We are selling this Property according to a registered boundary survey performed by Clay Richardson, RLS # 50072. A survey fee of $950 will be charged on Tracts 1, 2 & 3, and $3,900 will be charged on Tract # 4 and this will be due and collected today. The accuracy of the survey is the sole liability of the surveyor and the Purchaser, and the Purchaser does hereby release the Seller and Dempsey Auction Co from all liability in all matters concerning the survey.
CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. Closing will be conducted by Mr. Shane Givens of the Law Offices of Shane Givens Law, 1625 W. Main Street, Centre, AL, 256.927.7490. We encourage you to contact Ms. Ericka Smith at esmith@shanegivenslaw.com as soon as possible to discuss and schedule your closing.
CLOSING COSTS: The Seller will provide a Limited Warranty Deed at closing, guaranteeing Good and Marketable Title. If the Seller is unable to convey clear title to the property, the Purchaser(s) Earnest money deposit will be returned.
All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be the Purchaser’s expense.
POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before September 10, 2024.
TAXES: The 2024 Real Estate property taxes will be prorated to the date of closing. If any additional taxes are assessed resulting from the change of use by the purchaser, they will be the responsibility of the purchaser.
AGENCY: In accordance with the Alabama Disclosure Law / RECAD, Dempsey Auction Company is acting as agent for the seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between seller and the auctioneer. The auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms or conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is strongly recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information.
METHOD of SALE: DAC reserves the right to offer the property any way we see fit to obtain the seller the most money.
NOTE: This auction is being recorded by audio in its entirety for legal purposes.
In accordance with Alabama Disclosure / RECAD Law, Dempsey Auction Company is the “Listing Agent and Selling Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller.
I have received, read, understand, and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “B”.
Centre, Alabama 35960
United States
PROJECT MANAGER: Tom Lindsey – 770.546.2510 – tlindsey@dempseyauction.com
OPEN HOUSE: Dempsey Auction Representatives will be onsite Friday, August 9th from 1 – 4 PM. Out of respect to the Tenants, appointments for private showings will have Limited Availability.
TERMS AND CONDITIONS: Real Estate: 10% down on sale day, balance due at closing.
CLOSING: Closing to be on or before 30 days from sale date/contract acceptance.
SALE SITE: The property will be SOLD onsite under the Dempsey Tent.
ONLINE BIDDING: Simulcast Online Participation/Bidding is available now for Real Estate through our Online MarkNet Platform.
BROKER PARTICIPATION: Dempsey Auction Co will pay any licensed Broker/Agent a referral commission for any registered client who successfully closes on the property. CONTACT OUR OFFICE FOR PRECISE DETAILS.
For plats, brochures, inventory catalogs or further sales information on this auction, call us by name at 800.DEMPSEY (800.336.7739)