Hazel Green, AL: 2 Commercial Buildings totaling 4,300±SF in Madison County SELLING ABSOLUTE

Bidding Starts to Close: Thursday, November 14, 2024, at 12 PM CT
Inspection (By Appointment Only): Tuesday, November 12, 2024, from 12 PM–2 PM CT
Property Address: 12883 Hwy 231/431 N Hazel Green, AL 35750
Sale Manager: Larry Goff, 678-296-3648 or Larry@AMCbid.com

 

 

Property Description:
Rustic, fully finished 944±SF office connected to 3,000±SF warehouse on a fenced yard with an automatic security gate on 100’ x 200’ (.46 acre). 

 

The front office has a log cabin appearance and a large covered front porch. The office has a 23’ x 28’ (944±SF) footprint, a spacious open area downstairs, an office, bathroom, and closet. It is connected to the warehouse area at the rear by a 14’ x 17’ finished office/breezeway.

 

The warehouse has an office, kitchen, and bathroom on either side of a hallway leading to a 39’ x 43’ open warehouse space with 10’ ceilings and a 12’ wide garage door opening to a drive-up loading dock with a sloped ramp alongside the building to ground level. A stairway leads to a 59’ x 11’ finished mezzanine level with closets for additional office/storage space. The entire office/warehouse structure is covered with a sloped metal roof. 

 

The fenced secured area is around the rear portion of the lot and contains the warehouse area and a 10’ x 13’ stand-alone shed with an 8.5-foot wide garage door. A stairway leads up to a finished mezzanine area. All utilities are at the site with septic instead of sewer. 

 

The property, plus several others fronting on US 231/431, is part of a commercial subdivision named Jacobs Landing. There is no apparent zoning in the county; however, restrictive covenants were recorded in May of 1997 “to fix and establish additional restrictions, covenants, conditions, stipulations, and reservations [...] to establish a uniform plan of development.” Details are posted on our website.

 

Madison County Tax Parcel: 08-03-06-0-000-003.015; PIN: 146838
2024  Madison County Tax Value: $82,800 (Improvements), $60,100 (Land)
2024  Madison County Property Taxes: $1,007.11  

Terms: 
Proof of Funds Required to Bid
10% (ten percent) Auction Premium will be added to the winning bid to determine the sale price
10% (ten percent) Earnest Money Deposit
2% (two percent) Broker Co-Op
Close by December 13, 2024. 
The property is selling As-Is with all faults and without reliance on any warranty whatsoever.

 

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Auction Management Corporation, Julian E Howell ALAL #1682 
 

All registrations must be completed online at our website before the auction.

 

Last-minute registration is not guaranteed to be processed, and it is recommended to provide all documentation 24 hours before the auction deadline. There will be NO opportunity for a post-auction property inspection or due diligence period before closing.

 

AUCTION INFORMATION: All available material and updates are posted on our website. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 678-296-3648 or visiting the website.
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AUCTION PREMIUM: The property will be sold with a 10% (ten percent) Auction Premium. The bid amount plus the Auction Premium equals the final purchase price. For example, A $100,000 bid, plus the Auction Premium, equals the Final Purchase Price.
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INSPECTION: Inspection is by appointment only on Tuesday, November 12, 2024, at 12 PM CT. Please call or email the Sale Manager for inspection appointments.​

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CONDUCT OF 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 auctioneer's discretion.
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EXTENDED BIDDING: This auction uses an extended bidding feature. Any bid within the last 5 minutes of bidding (on Thursday, November 14, 2024, at 12 PM CT) causes an automatic 5-minute extension of the bidding. When 5 minutes pass with no more bidding, bidding will close with the high bidder being declared the winner.
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​EARNEST MONEY REQUIREMENT: Winning online bidder (Buyer) must deliver an Earnest Money Deposit via wire transfer immediately following the auction (See Auction PSA), in the amount of 10% (ten percent) of the purchase price calculated by adding the high bid amount plus a 10% Auction Premium. The remaining balance must be paid in full at closing. Escrow Agent, Donald Warren of Burr & Forman LLP, is also the Closing Agent. Buyer will be contacted immediately following the conclusion of the auction, and the PSA will be emailed to sign and return.

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ESCROW AND CLOSING AGENT: Donald Warren of Burr & Forman LLP will order the Title Commitment, which will be posted on our website and serve as the basis for the conveyance of title to the Buyer. Donald Warren of Burr & Forman LLP will act as Escrow Agent. Buyer must reimburse Escrow Agent for this service and the Title Commitment at closing.

 

Burr & Forman LLP

Attn: Donald Warren
​420 North 20th Street, Ste. 3400
​Birmingham, AL 35203
​205-458-5128
​dwarren@burr.com

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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 on our website. The Auction PSA acknowledges that Buyer has inspected the property before 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 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 Deposit must be made via wire transfer only. Closing must occur by December 13, 2024. This deadline must be met unless extended in writing by mutual consent of the parties. The remaining balance of purchase price must be paid in full at closing. Buyer not closing within the contractual period to close will forfeit their Earnest Money Deposit. Escrow Agent, Donald Warren of Burr & Forman LLP is serving as Closing Agent.

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​DEED IN LIEU: Because this property was acquired by the bank through a deed in lieu instead of a judicial foreclosure, the former borrower has no right of redemption under Alabama law.

 

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.

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PLATS/SKETCHES/DRAWINGS AND PHOTOS: These 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.
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​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.

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BROKER PARTICIPATION INVITED: A broker commission of 2% (two percent) of the 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, or hand deliver the prospect's name and address on the Broker Registration form, which is available for download at the AMC website listing, before 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 24 hours prior to the published auction bid deadline. Commissions are to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction. A Broker cannot represent an immediate family member.
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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 Buyer of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Statutory Warranty Deed.

 

A 10% (ten percent) Auction Premium will be held by Escrow Agent on Seller's behalf as a part of the 10% (ten percent) Earnest Money Deposit and will be paid by Seller to Auctioneer at Closing. No other closing expenses will be paid by Seller.

 

All other closing costs, including but not limited to escrow fees, survey (if Buyer opts for one, although closing will not be extended while waiting for a survey), title examination, title policy, title insurance, transfer taxes, 100% of closing fees charged by the Closing Agent, loan closing costs, and Buyer's attorney fees are at the expense of the Buyer. Please contact Donald Warren for a good faith estimate of closing fees charged by Burr & Forman LLP.
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​Information was gathered from reliable sources and is believed to be correct as of the date this material was 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(s) to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. Auctioneer provides Internet bidding as a service to Buyers using a third-party bidding system. Under no circumstances shall Bidder hold Auctioneer or Seller liable for system failures resulting in Bidder's bid not being properly submitted. The Seller has no liabilities whatsoever for any oral or written representations, warranties, or agreements relating to the property except as expressly outlined in the Auction PSA. There is no obligation on the Seller's part to accept any backup bids if the high bid falls through. Please note that unless specifically noted otherwise, Auctioneer represents the Seller only.
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ACTS OF OTHERS: Persons in attendance during the inspection, sale, or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as directed by Auctioneer, and local, state and federal regulations. Neither Auctioneer, its agents, employees, or representatives shall be liable because of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases Auctioneer, its agents, and representatives from all liability thereof.

 

RIGHT OF REMOVAL: Auctioneer reserves the right to remove any person from the asset site and to refuse that individual’s bid, whether offered live, by proxy, or by the Internet. In such an event, any outstanding deposit will be immediately returned.

 

BIDDER'S NUMBER: The bidder’s number is non-transferable. All bids made using the bid number will be the Buyer's responsibility.