Auction Type Timed Online Auction
september
october
Date
October 5, 2023
Inspection
Property will be open for inspection on TBD. Because of the mold issue, prospective bidders may be asked to sign a waiver of liability before entering the building.
Time
Ends 11:00am EDT (GMT-4)
Location
4083 Business US-27
Buchanan, GA 30113 (Haralson County)
Event Details
Selling Online Only to the Highest Bidder – Regardless of Price! Bid Deadline: Thursday, October 5 at 11:00 AM ET Sale Manager: Larry
Event Details
Selling Online Only to the Highest Bidder – Regardless of Price!
Bid Deadline: Thursday, October 5 at 11:00 AM ET
Sale Manager: Larry Goff, 678-296-3648 or larry@amcbid.com; Michael Presto, 818-203-7273 or mpresto@gaglobl.com
Description: 26,600±SF 34-room brick- sided assisted living facility on two tracts totaling 10.8± acres on the east side of Business U.S. 27. Property was in service as an assisted living facility prior to being forced to shut down during Covid.
All 34 rooms were designed for either single or double occupancy. Amenities offered by the facility included an activity center, a dining room and commercial kitchen, a salon, a nurses station and conference room, a therapy room, and a laundry facility. Gated access, and 43 parking spaces with 9 dedicated as handicapped-only use.
An easement benefiting a 7.48-acre tract to the east of the site runs along the course of the drive servicing the property from Business U.S. 27 and continues along the north boundary of the property. Public water, sewer and natural gas serve the property (CONFIRM).
Zoned C-1 by the city of Buchanan with 365± feet of frontage on Business U.S. Highway 27 in Buchanan. C-1 zoning allows for a variety of uses, as can be seen on the Buchanan zoning ordinance, posted to our website.
Permitted uses include but are not limited to retail stores, banks, health clubs/spas, barbershops, cafes and restaurants (without drive-through windows).
Conditional uses include but are not limited to auto service stations, appliance repair, bus terminal, theater (excluding drive-in theaters) wholesaling establishments, places of worship, public and private schools, golf, swimming, tennis or country clubs, hotels and motels, professional and business offices, hospitals, clinics and convalescent or nursing homes, dry cleaning shopping centers, and funeral homes.
After the property became vacant, vandals damaged a water line and a portion of the building flooded. This has resulted in a mold outbreak in the building which has not been addressed.
Haralson County Tax ID# 0074 0075AA (6.83 acres) and 0074 0075A (4 acres). All improvements with the exception of a small portion of the driveway are located on the 6.83 acre tract.
2022 Tax Value $3.146 million (6.83 acres) and $55,000 (4 acres). Because the owner is a non-profit, the 6.83 acre site with most of the improvements has not been subject to property tax. If the asset is not sold to an exempt non-profit, taxes for that portion of the property will be assessed at or following closing. 2022 taxes for the 4 acre site in the amount of $822.61 plus any 2023 taxes due must be paid by the buyer at closing.
Sold subject to insurable title free of any liens, to be conveyed through a Limited Warranty Deed.
Directions: Buchanan is 55 miles (1 hour) west of Atlanta GA. From I-20, take US Highway 27 (exit 11) north, go 7.4 miles, then turn left onto US 27 Business, go 2.3 miles through Buchanan to the brick entrance monument for Kelly Foundation.
Broker Participation Invited: A two percent (2%) Commission will be paid on the final contract price to any properly registered broker whose prospect purchases real estate at the auction and closes in full. Please see Auction Terms for full details.
Escrow Agent and Closing Attorney: Vickey Atkins P.C., 129 E Elm St, Rockmart, GA 30153-2923, (770) 684-1414, vickey@vralaw.com. All escrow, title and closing attorney fees paid by the buyer.
Terms: 10% Buyers Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, 2% Broker Co-Op, close within 30 Days.
Auction Management Corporation GAL# 2503.
Auction Photos
Terms & Conditions
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. The online registration form will need to be completed before online bidding is enabled.
AUCTION INFORMATION: All available material and updates are posted to our website. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 770-841-9924, or by visiting the website.
BUYER’S PREMIUM: Property will be sold with a ten percent (10%) buyer’s premium. The bid amount plus buyer’s premium equals the final purchase price. For example: A $1 million bid, plus the 10% ($100,000) buyer’s premium, equals the $1.1 million final purchase price.
INSPECTION: Call for an appointment.
CONDUCT OF THE AUCTION: Online bidding opens September 15th. The auction ends when the highest bid is recognized by the auctioneer following the October 5th Bid Deadline. Bid increments and bidding methodology are subject to change at the sole discretion of the Auctioneer.
EXTENDED BIDDING: This auction uses an extended bidding feature. Any bid within the last five minutes of bidding (Bid Deadline) causes an automatic 5 minute extension on the asset. When 5 minutes passes with no more bidding, bidding will close simultaneously, with the high bidder being declared the winner.
EARNEST MONEY REQUIREMENT: Winning online bidder must deliver earnest money via wire transfer to the Escrow and Closing Agent account immediately following the auction (See Auction PSA), in the amount of ten percent (10%) of the purchase price (calculated by adding the high bid amount plus a 10% buyer’s premium). Escrow Agent, Vickey Atkins P.C. is also Closing Agent. Balance will be paid in full at closing. The successful bidder will be notified immediately following the closing of the auction and emailed the sale contract, to sign and return. If you have any questions, you may contact Larry Goff at larry@AMCbid.com or 678-296-3648.
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 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. Earnest Money must be in the form of wire transfer only. Closing must occur within thirty (30) days after the auction date. This deadline must be met unless extended in writing by mutual consent of the parties. Balance of purchase price will be paid in full at closing. Buyer not closing within the contractual time period to close will forfeit his/her earnest money deposit. Escrow Agent, Vickey Atkins P.C. is also Closing Agent.
BROKER PARTICIPATION INVITED: A broker commission of two percent (2%) of 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, fax or hand deliver the prospect’s name and address on the Broker Registration form available as a download at the AMC website listing, prior to 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 to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
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.
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. Failure to inspect property prior to auction does not relieve the purchaser or purchasers of contractual obligations of purchase. Property sells As Is – Where Is with no warranties expressed or implied. Real property to be conveyed by Limited 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; (3) 0% of closing fees charged by Closing Agent. All other closing costs, including but not limited to escrow fees, prorated portion of 2023 property tax, surveys, title examination, title insurance, transfer taxes, 100% of closing fees charged by Closing Agent, loan closing costs, and purchaser’s attorney fees are at the expense of the Buyer.
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 Auctioneers to update this information. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. Auctioneer is providing Internet bidding as a service to Buyer using a Third-Party Bidding System. Under no circumstances shall Buyer hold Auctioneer liable for system failures resulting in Buyer’s bid not being properly submitted. 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 Seller to accept any backup bids in the event the high bid falls through. Please note that unless specifically noted otherwise, Auctioneer represents the Seller only.