Centre, AL: Cherokee Pines Golf Club

Selling Online Only

In Partnership with Our Friends at Bullseye Auction & Appraisal

Bidding Opens: Sunday, November 10, 2024 at 6 AM CST

Bid Deadline: Wednesday, November 20, 2024 at 1 PM CST

Inspection: Please contact Sale Manager for instructions.

Property Address: 270 County Road 382, Centre, AL 35960

Sale Manager: Scott Schwartz 404-550-3490 or Scott@bullseyeauctions.com

Property Description:

Property consists of a fully operational 18 hole golf course on 109± acres. The auction will include equipment and all proprietary information. Property provides a pro shop, banquet area, two kitchens, men's and women's bathroom, swimming pool, cart shed, parking, covered storage area, 35 individual unit private cart storage, driving range, practice green, maintenance shed, pump house and acreage for possible residential development.

Cherokee Pines Golf Club is deed restricted and must operate as a golf course until October of 2047.

From January 1st to October 21st, 13,411 rounds have been played. This number does not factor tournament rounds.

Currently, there is a Yamaha cart lease in place until May of 2027. There are 8 payments annually of $2,730. The carts are motor but, Yamaha will work with the new purchaser to convert to electric, should that be desired. In addition, each cart has a YamahaTrak GPS. The GPS is a separate lease that runs through December 2028 with a monthly payment of $1,225.00. There are a total of 35 carts. Purchaser will be responsible for assuming both leases.

Please contact Scott Schwartz at 404-550-3490 for a copy of both leases, membership report, and profit and loss statement.

Cherokee County Tax Parcels:

17-01-01-2-000-058.000

17-01-02-0-000-008.003

Terms:

10% Buyers Premium added to high bid to determine Purchase Price, Earnest Money Deposit of 10% of Purchase Price within 24 hours of end of auction, 2% broker co-op, close in 30 days.

Auction Conducted by Auction Management Corporation AL Auction #AU1682 / AL RE # 000069289 - 0

Online Auction Facilitator: Bullseye Auction & Appraisal, LLC, 6470 E. Johns Crossing, Suite 160, Johns Creek, GA 30097, Phone: 770-544-7479.

In Conjunction w/: Hilda W. Allen Real Estate, 212 Old Quitman Annex Road, Adel, GA 31620, Phone: 229-896-1492.

AUCTION TERMS AND CONDITIONS FROM BULLSEYE AUCTIONS:

AUCTION START & DEADLINE: Online bidding to start on November 10^th at 6 AM. The auction will start to close on Wednesday, November 20^th at 1 PM CST. Please note, a bid extension feature will be in place for this auction. For clarification, please contact Auctioneer.

INSPECTION: Bidders are encouraged to make their own inspections prior to bidding. Please contact Auctioneer for instructions on how to inspect property.

AUCTION REGISTRATION: Please visit individual auction posting to register for this auction.

AGENCY: Auction Management Corporation, 1827 Power Ferry Road, Bldg 5, Atlanta, GA 30339, Phone: 770-980-9565. AL Auction #AU1682 / AL RE # 000069289 - 0

TERMS: A 10% non-refundable earnest money deposit must be wired to Designated Escrow Agent’s Account within 24 hours of contract acceptance. Immediately following the auction, winning bidder will sign an “as-is” Auction Real Estate Sales Contract. A copy of the Auction Real Estate Sales Contract may be reviewed prior to the auction. Please contact Auctioneer for a copy. Wiring instructions will be sent to high bidder at the conclusion of the auction.

CLOSING: Unless otherwise noted, balance of the purchase price is due within 30 days of Auction Real Estate Sales Contract acceptance.

CLOSING ATTORNEY: Purchaser is responsible for designating the closing attorney. Purchaser is responsible for all closing expenses, except what Seller is required to pay by Alabama law.

BUYER’S PREMIUM: There is a 10% Buyer’s Premium for this auction. Example: For a high bid of $100,000, a 10% buyer’s premium of $10,000 will be added making the purchase price $110,000.

AUCTIONEER’S AUTHORITY: Bid increments are at the discretion of the Auctioneer. Auctioneer shall make the final decision as to the final high bid amount and winning bidder.

FINANCING: Financing is NOT a contingency to the Auction Real Estate Sales Contract. Bidders are encouraged to make have all necessary financing in place prior to registering for the auction.

BROKER PARTICIPATION: A 2% commission 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 using the Broker Registration Form posted to the website for the property listing within 48 hours of the scheduled auction. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.

INSURABLE TITLE: Unless otherwise noted and announced at the auction, Auction Real Estate Sales Contract is contingent upon Sellers ability to convey insurable title.

SPECIAL NOTE: Property is selling “as-is, where is” with all faults and is selling subject to easements, leases, restrictions, zoning, covenants, conditions and all other matters revealed by a survey or by inspection of the property or contained in public records. Real property to be conveyed by limited or special warranty deed. 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; and (3) prorated property taxes and back taxes due, if any. All other closing costs, including but not limited to surveys, title examination, tax stamps, loan closing costs, and closing attorney fees are at the expense of the Buyer. Unless noted otherwise, Buyers pay all closing fees charged by closing attorney.

Although every precaution has been taken to ensure the accuracy of all printed and announced information, neither the seller, Auction Management Corporation, nor their agents will be responsible for any errors or omissions herein. Bidders are encouraged to carefully inspect the property and information before registering for the auction and placing a bid. Auctioneer reserves the right to add or delete any property prior to the scheduled auction date. Announcements made on the day of the auction take precedence over all advertising.