Commercial Assets in Lithonia and Dallas
Lender Owned and Lender Forced Auctions
Selling Online Only
Lender Owned and Lender Forced Auctions
Selling Online Only
Bid Deadline Wednesday Feb 22nd at 11 am
Sold for $96,525
101: 2,300±SF Office Building on 0.5± Acres in Lithonia, GA (Dekalb County)
2523 Panola Road, Lithonia GA 30058
Bidding Opens: Wednesday, February 15 at 11:00 AM ET
Bid Deadline: Wednesday, February 22 at 11:00 AM ET
Inspection: Monday, February 20 at 11:00 AM ET
Sale Manager: Jeb Howell 770-841-9924 or Jeb@AMCbid.com
2,318±SF Single story masonry building constructed in 1965 on lot located on west side of Panola Road near corner of Dividend Drive. Per the tax plat and zoning map, lot is 100 feet wide by 225 feet deep. Legal description from title work indicates a larger parcel with greater width and depth (over 130 feet of frontage on Panola and over 230 deep of depth) and a lot size of 0.71 acres. Conveyance will be according to the legal description.
Zoned C-1 with conditions, Local Commercial District. Zoning Condition CZ-04-131**
Tax Parcel # 16 040 01 011
2016 DeKalb County Taxes $4,122.18
Per GDOT, 2015 annual average daily traffic counts on this part of Panola Road were 28,700.
**The property is zoned Commercial (per confirmation by Dekalb Co Zoning). It has a zoning restriction which limits the use to a Beauty Salon.The property was given this conditional zoning in approx 2004 (see document in our due diligence section). At that time the surrounding area was said to be residential. Today the surrounding area is largely commercial. The property would not need to be "rezoned" per se, but if an owner wants to use the property in a capacity other than a beauty salon, they would need to go through the process of having the condition removed.
Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, EM Deposit of 20% of purchase price, close by March 22, 2017.
Sold for $82,500
103: 1,896±SF Commercial Building on 0.5± Acres in Dallas, GA (Unincorporated Paulding County)
1001 Merchants Drive, Dallas GA 30132
Bidding Opens: Wednesday, February 15 at 11:00 AM ET
Bid Deadline: Wednesday, February 22 at 11:00 AM ET
Inspection: Monday, February 20th at 3:00 PM Sharp
Sale Manager: Amy Martin 404-734-3606 or Amy@AMCbid.com
1,896±SF former SFR built in 1959 on 0.5± acres with upgrades (updated wiring for new lights and security, newer metal roof) completed in 2003. Property features a showroom, two office spaces, a storage space, two separate store fronts, and a detached metal building that could be used for a two car garage. Central heat and air in main structure.
Zoned B2-100, Highway Business District
Paulding County Tax Parcel# 138.3.1.023.0000
2014-2016 Taxes Due Total $6,766.68
Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 20% EM Deposit, close by March 22, 2017. Buyer to pay all closing costs and any past due or current taxes.
Broker Co-op invited!
Please Note: All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window. This feature is in place partially to prevent "sniping" which can occur on online auctions with a hard deadline. It recreates the action of a "Live Auction". If your opponent bids in the waning seconds of the auction, you still get another chance to bid. With that in mind, don't wait out the bid until the last second, because the auction will remain open. Waiting it out can only put you at risk not getting your bid in before the 5-minute clock runs out. Auctioneer is not responsible for bidding errors caused by internet outages, bid platform failures, or power failures.
AMC GAL#2503
TERMS & CONDITIONS FOR 1001 MERCHANTS DRIVE, DALLAS GA 30132:
AUCTION REGISTRATION: In order to register for the auction, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. You must provide proof of funds from your bank showing sufficient funds to cover the required 20% earnest money down payment in order to obtain a bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to info@amcbid.com in advance of the auction. Proof of funds consists of a copy, fax, or scanned pdf of a current bank statement in bidder’s name showing sufficient funds for earnest money deposit. If you are unable to provide these in advance, please contact the auctioneer for instructions.
AUCTION INFORMATION & OFFICES: All available material and updates are posted to www.amc.bid. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 770-980-9565, or by visiting our website.
BROKER PARTICIPATION INVITED: Unless noted otherwise in property listing or herein, a broker commission of two (2%) of the Winning Bid will be paid on real estate. A commission will only 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/ ∓Opening Bid form posted to the website for the property listing prior to bidder registration. The registration form must be signed by the prospect and the Broker, and must be received at an office of Auction Management Corporation no later than 5:00 PM two (2) days prior to each bid deadline via fax or mail. In no case will a broker registration be accepted after a bidder has registered. If bidder bids onsite, Broker must also attend the auction and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
CONDUCT OF THE AUCTION: Register to bid at our website at www.AMCbid.com . Online bidding will begin one week prior to 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 sole discretion of auctioneer.
TERMS OF SALE FOR REAL ESTATE: Winning bidders will pay an earnest money deposit of twenty (20%) of the purchase price (bid amount plus buyer’s premium). Upon conclusion of the bidding, Buyer will sign an Auction Purchase and Sale Agreement (“PSA”), and must submit earnest money deposit in the form of a wire transfer to seller-designated escrow agent (See Auction Purchase & Sale Agreement). The earnest money deposit is non-refundable.
Closing must occur no later than Wednesday, March 22, 2017 unless extended in writing by mutual consent of the parties. Buyer not closing within the contractual time period to close may forfeit his/her earnest money deposit. Buyer shall execute an Auction Purchase and Sale Agreement for the property immediately after being declared the successful bidder by auctioneer. A form Auction PSA is available at our website and at the auction site prior to the auction. The Auction PSA which Buyer must sign at the auction contains an acknowledgment that Buyer has inspected the property prior to 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 of any kind 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. All payments (i.e., Earnest Money, Closing Funds) must be in the form of wire transfer only.
BUYER'S PREMIUM: Property will be sold with a Ten (10%) percent buyer's premium. The bid amount plus buyer's premium equals the final purchase price. For example: A $100,000 bid, plus the 10% ($10,000) buyer's premium, equals the $110,000 final purchase price.
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.
PLATS/SKETCHES/DRAWINGS AND PHOTOS: 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.
AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (770) 980-9565.
TAX EXCHANGE: Sellers and Purchasers agree that certain Sellers may effectuate 1031 Tax Exchanges on certain properties sold herein. Buyers will agree to cooperate and execute necessary documents to enable Sellers to consummate said transactions.
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.
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. Auctioneer reserves the right to convert the bidding platform from an online to an onsite bidding platform if no bidders register and submit required bid deposit by the online bidding deadline. Personal on-site inspection of the property is strongly recommended. Failure to inspect property prior to auction does not relieve purchaser of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Covenant 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, loan closing costs, and closing attorney fees are at the expense of the Buyer. Sale shall be closed at the offices of Seller’s Designated Closing Agent (“Closing Agent”), as noted in Auction Purchase & Sale Agreement, or as announced at the auction.
Closing costs shall be paid in accordance with the Auction PSA, posted to the website.
Information was gathered from reliable sources and is believed to be correct as of the date this material is 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 to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. The sellers do not have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property except as expressly set forth in the Auction PSA. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through.
TERMS & CONDITIONS FOR 2523 PANOLA RD, LITHONIA GA 30058:
AUCTION REGISTRATION: In order to register for the auction, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. You must provide proof of funds from your bank showing sufficient funds to cover the required 20% earnest money down payment in order to obtain a bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to info@amcbid.com in advance of the auction. Proof of funds consists of a copy, fax, or scanned pdf of a current bank statement in bidder’s name showing sufficient funds for earnest money deposit. If you are unable to provide these in advance, please contact the auctioneer for instructions.
AUCTION INFORMATION & OFFICES: All available material and updates are posted to www.AMCbid.com. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 770-980-9565, or by visiting our website.
BROKER PARTICIPATION INVITED: Unless noted otherwise in property listing or herein, a broker commission of two (2%) of the Winning Bid will be paid on real estate. A commission will only 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/ ∓Opening Bid form posted to the website for the property listing prior to bidder registration. The registration form must be signed by the prospect and the Broker, and must be received at an office of Auction Management Corporation no later than 5:00 PM two (2) days prior to each bid deadline via fax or mail. In no case will a broker registration be accepted after a bidder has registered. If bidder bids onsite, Broker must also attend the auction and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
CONDUCT OF THE AUCTION: Register to bid at our website at www.AMCbid.com . Online bidding will begin one week prior to 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 sole discretion of auctioneer.
TERMS OF SALE FOR REAL ESTATE: Winning bidders will pay an earnest money deposit of twenty (20%) of the purchase price (bid amount plus buyer’s premium). Upon conclusion of the bidding, Buyer will sign an Auction Purchase and Sale Agreement (“PSA”), and must submit earnest money deposit in the form of a wire transfer to seller-designated escrow agent (See Auction Purchase & Sale Agreement). The earnest money deposit is non-refundable.
Closing must occur no later than Wednesday, March 22, 2017 unless extended in writing by mutual consent of the parties. Buyer not closing within the contractual time period to close may forfeit his/her earnest money deposit. Buyer shall execute an Auction Purchase and Sale Agreement for the property immediately after being declared the successful bidder by auctioneer. A form Auction PSA is available at our website and at the auction site prior to the auction. The Auction PSA which Buyer must sign at the auction contains an acknowledgment that Buyer has inspected the property prior to 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 of any kind 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. All payments (i.e., Earnest Money, Closing Funds) must be in the form of wire transfer only.
BUYER'S PREMIUM: Property will be sold with a Ten (10%) percent buyer's premium. The bid amount plus buyer's premium equals the final purchase price. For example: A $100,000 bid, plus the 10% ($10,000) buyer's premium, equals the $110,000 final purchase price.
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.
PLATS/SKETCHES/DRAWINGS AND PHOTOS: 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.
AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (770) 980-9565.
TAX EXCHANGE: Sellers and Purchasers agree that certain Sellers may effectuate 1031 Tax Exchanges on certain properties sold herein. Buyers will agree to cooperate and execute necessary documents to enable Sellers to consummate said transactions.
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.
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. Auctioneer reserves the right to convert the bidding platform from an online to an onsite bidding platform if no bidders register and submit required bid deposit by the online bidding deadline. Personal on-site inspection of the property is strongly recommended. Failure to inspect property prior to auction does not relieve purchaser of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Real property to be conveyed by Covenant 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, loan closing costs, and closing attorney fees are at the expense of the Buyer. Sale shall be closed at the offices of Seller’s Designated Closing Agent (“Closing Agent”), as noted in Auction Purchase & Sale Agreement, or as announced at the auction.
Closing costs shall be paid in accordance with the Auction PSA, posted to the website.
Information was gathered from reliable sources and is believed to be correct as of the date this material is 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 to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. The sellers do not have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property except as expressly set forth in the Auction PSA. There is no obligation on the part of the Sellers to accept any backup bids in the event the high bid falls through.
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