Online Only Foreclosure Auction of 1,180±SF Condo in Hallandale Beach, FL (Broward County)

Inspection: Tuesday, July 26th  at 12 noon SHARP. Persons wishing to enter must sign a Right of Entry document prior to gaining access.

Sale Manager: Julian E (Jeb) Howell, 770-841-9924, jeb@amcbid.com and Chris Fisher, 386-690-1295, chris@amcbid.com

The property is identified on the tax roll as an 1,180±SF unit, presently configured as  one bedroom and two baths. An accordian wall can be pulled out which effectively turns it into a 2 bedroom unit. It is located on the top level of the building. Association Dues are $362 per month, and according to the Homeowners Association, there are over $6,000 in unpaid dues and special assessments. These must be paid within 30 days of issuance of Certificate of Title. The former borrower is deceased and the Secured Creditor obtained a  Final Judgement of Foreclosure in June which specified this auction. In addition, 2015 taxes must be redeemed from the party who bid upon them at tax sale, and 2016 taxes must be paid in entirety (no pro-rations) by the purchaser at the foreclosure auction.

A mold study in November 2015 revealed high spore counts, believed to be from condensation around windows. 

Directions: From I-95 Exit 19 east on Pembroke, right (south) onto US 1, left on NE 7th to Hallandale Gardens Condominium on the left.

Terms:  Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 10% EM Deposit based on Sale Price, close by Friday, August 26th

Julian E Howell, FL Broker 3008009

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 10% 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, form of Certificate of Sale, and other information may be obtained by calling 770-980-9565, or by visiting our websites.

CONDUCT OF THE AUCTION:

Online bidding will begin seven days prior to the auction. The auction ends when the highest bid is recognized by the auctioneer. Any bid within the last five minutes of the bid deadline causes an automatic extension of bidding. When 5 minutes passes with no bidding, the auction  closes. Bid increments and bidding methodology are subject to change at the sole discretion of auctioneer.

TERMS OF SALE:

The Terms of the auction sale are specified in the Final Judgement of Foreclosure recorded 6/7/2016, Broward County instrument 113738766. Those terms are specified below. Paragraphs 16 through 19 below are those in the Judgement, available at our website.

14.   The purchase price shall be equal to the amount of the highest bid plus a buyer’s premium in the amount of 10% of the highest bid.  The Auctioneer shall report in writing by sworn affidavit to the Clerk three (3) days after the auction sale, the results of the sale by indicating the name and address of the buyer, the sales price, and the amount of the cash proceeds received.  Simultaneously with the filing of the Auctioneer’s affidavit, the Auctioneer shall turn over to the Clerk all proceeds and deposits received.  Upon the filing of the Auctioneer’s affidavit, the Clerk shall promptly issue and file the Certificate of Sale substantially similar to the form set forth in §45.031(3), Florida Statutes.

15.   On filing of the Certificate of Sale, the Defendants’ rights of redemption are extinguished.

16.   The successful high bidder shall, on the date of the sale, be required to deliver a cash deposit to the Auctioneer of at least 10% of the total purchase price.  The balance of the purchase price shall be paid in cash by the high bidder to the Clerk of this Court on or before thirty (30) days after the day of the auction sale.  If the buyer defaults, the next highest bidder shall have five (5) days within which to pay to the Clerk of this Court the full cash amount of the purchase price of the next highest bidder, at which time the Property shall be deemed to have been sold to the back-up bidder.  In the event there is no back-up bidder, the Plaintiff shall be deemed the purchaser of the Property based on its credit bid.  The deposit of any defaulting buyer shall be disbursed by the Clerk to be applied to the Plaintiff’s mortgage debt.  Upon payment in full of the purchase price of the Property, the Clerk shall issue and file the Certificate of Title in favor of the high bidder.

The balance of the Purchase Price Closing must be paid no later than Friday, August 26th, 2016. Buyer not paying within the contractual time period to close will forfeit his/her earnest money deposit. Buyer shall be issued a preliminary Certificate of Sale after being declared the successful bidder by auctioneer and wiring 10% of the Purchase Price to Auctioneer’s escrow account. A form Certificate of Sale is available at our website. All payments (ie, Earnest Money, Closing Funds) must be in the form of cash or wire transfer only.

Upon issuance of the Certificate of Title by the County Clerk, the law firm of Stovash, Case & Tingley, P.A., attn Robert Case (“law firm”), would record the Certificate. If the Buyer wants title insurance, the law firm can issue a title policy after confirming payment of taxes, HOA dues, and any other title matters.

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.

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. 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 Foreclosure Deed. Only the following sale closing costs will be paid by seller: (1) Commissions or brokerage fees to auctioneer; and (2) 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 purchaser’s attorney fees are at the expense of the Buyer. We strongly recommend that bidders independently verify any and all information on the asset, including but not limited to title matters, habitability or suitability, or availability of financing.

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 Certificate of Sale. There is no obligation on the part of the Seller to accept any backup bids in the event the high bid falls through.