Property # 7 – Cowart Ln, Colquitt, Ga
Bidding Opens: Tuesday, January 25th @ 6:00am EST
Bidding Closes: Thursday, February 10th @ 4:00pm EST
Location: Cowart Lane, Colquitt, Ga
Size: Lot Size: 212' X 210'
Type: Vacant Residential Lot
Bank Owned - Great Investment Opportunity
Call to schedule your inspection.
10% Buyer's Premium
Conditions of the Real Estate Auction
Terms: the successful purchasers will be asked to sign the seller’s real estate purchase agreement on sale day and make an earnest money deposit equal to fifteen percent (15%) of the contract price. Sale will close within thirty (30) days after the date of auction at which time the purchaser will pay the balance of the purchase price. A 10% buyer’s premium will be added to all purchases to arrive at a contract price.
The information contained in this brochure and all related materials are subject to the terms and conditions of the purchase agreement. The property is being sold on an “as-is, where-is with all faults” basis. The property will be sold for all cash. Your complete inspection of the property and pertinent documents is recommended. Announcements made at the podium at the time of the sale take precedence over all printed materials, except for the fully executed purchase agreement and subsequent conveyance/closing documents.
Conduct of the auction and increments of bidding are at the direction of the auctioneer. All properties will be sold subject to the sellers reserving the right or confirmation within ninety-six (96) hours. Since the sellers are highly motivated to sell on the date of the sale, the announcement of acceptance of final bids could be synonymous with the time and place of the auction.
Survey: if the property sells divided, all property must be surveyed prior to closing by a licensed Georgia registered surveyor. The cost of the survey is to be paid by the purchaser. The number of acres surveyed times the contract price per acre shall determine the final or actual purchase price to be paid at closing. J. Durham and Associates, Inc., will have the final approval of the selected surveyor.
Representation disclosure: J. Durham and Associates, Inc., represents the seller in this transaction, not the purchaser, but does not have authority to make representations on behalf of the seller with respect to any matter.
Property size & dimensions: all acreages and property line dimensions are subject to change. They have been calculated for auction purposes only and are approximate and may be general in nature and are being sold subject to final survey. They are not guaranteed by the seller of J. Durham and Associates, Inc.
After you register and receive your bidder number, if you are not a regular customer or known buyer, you will be required to make a $250.00 bid deposit before your bidder number will be activated. Mail your bid deposit check, attention: Joe Durham, payable to J. Durham & Associates, Inc. To 1216 Dawson Road, Suite 102, Albany, Ga 31707. Or, contact Joe Durham to remit the deposit via credit card or wire transfer. The winning bidder’s $250.00 deposit will be applied to the down payment. All other bidder’s deposits will be refunded within ten days after the auction closing date. We reserve the right to waive the bidder deposit for known buyers and regular customers.
What to expect if you are the winning bidder
- Our office will call you shortly after the end of the auction. At that time we will verify the name(s) to be entered on the contract as purchaser and on the deed.
- Next, we will email you the completed contract package. The email will include directions for returning the signed documents and sending the earnest money deposit (wire, cashier’s check or cash)
- Please return all documents and earnest money within 24 hours
- Upon receipt of these, our office will forward the contract package to the seller for signature.
- After the seller has signed, we will send you a copy of the signed documents for your records. At the same time, copies of the documents and closing information will be forwarded to the closing attorney/title company.
- Then the closing attorney/title company will contact you to schedule the closing for the property.
- Prior to the closing, the attorney/title company will supply you with a copy of the preliminary hud settlement statement showing the accounting of the transaction and any remaining funds that you will need to bring to closing.