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Residential Auction - House & large lot in Helena, Alabama (#163004)
03/14/2022 10:00 AM CDT - 04/07/2022 1:00 PM CDT CLOSED!
Starts Ending 04/07/2022 1:00 PM CDT

Lot #1Residential Auction - House with 3 Acre Estate lot in Helena, Alabama

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Lot closed - Winning bid:$250,000
(30 bids)

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Residential Auction - House & large lot in Helena, Alabama (#163004)
03/14/2022 10:00 AM CDT - 04/07/2022 1:00 PM CDT CLOSED!
Starts Ending 04/07/2022 1:00 PM CDT

Description

OPEN HOUSE - Friday, March 25th - 10am - 11am & Friday, April 1st, 10am - 11am.

Realtors can show the house anytime by lockbox. Contact Chip Pearce @ 205-296-8256 or email [email protected]

PUBLIC AUCTION - Online Bidding Only. Bidding ends April 7th, starting at 1:00pm (soft close).

Selling subject to the sellers confirmation.

By order of the current owner. Up for auction is this House & 3 acre estate lot located at 100 Chestnut Lane, Helena, Alabama 35080. A fantastic investment opportunity for a home owner looking for a house to remodel to live in, flip or use as a rental investment property! A RARE RARE opportunity in Shelby County Alabama where we have such limited inventory of homes for sale or rent.

The current owner has been using this property as an investment and has had family members renting it from her over the past few years. Due to the death of a family member, she no longer needs this property. It is up for auction instead of a traditional listing because it is in need of a remodel and repairs. Property will sell subject to the approval of the seller.

Address: 100 Chestnut Lane, Helena, Shelby County, Alabama 35080. Lot #1 of Chestnut Glenn Subdivision. This lot fronts County Road 93 (Over 570' Road Frontage). It is considered the first lot in this subdivision before you turn into the estate subdivision. Located just West of Cherokee Beach Campgrounds.

3 Acres, more or less.

Parcel ID#12-6-23-0-000-001.011

2021 Shelby County Alabama Property Appraisal - $220,920. There has not been a recent professional appraisal done by the seller.

2021 Property Taxes - $931.40 (current).

Approx 1800 Sq Ft on main & upper level of house. The basement has approx 1335 Sq ft with 1/2 being finished, heated and cooled. The basement has a full bath. The house has what can be considered 4 bedrooms and 4 bathrooms. Eat in kitchen, living room/den in front, hallway, several storage rooms and laundry areas.

According to the owner, the roof had some leaks (metal roof with screws that seals deteriorated) but the roof was repaired in Nov 2021. The screws were replaced as well as flashing. No appliances are included with the house! The (2) HVAC systems were replaced in 2015 at a cost of $10,000. A back deck was built in 2019. The current owner and tenant had began scraping off the popcorn ceilings and prepping the house for repaint. It was never completed and is ready for the next owner to finish.

Unincorporated Shelby County

No HOA

Part of Chestnut Glenn Subdivision with Covenants & Restrictions

Check back for open house dates/times.

2% Brokers Participation .

TERMS & CONDITIONS: Please read the terms and conditons of this auction in full when you register for this auction.

12% buyers premium. Subject to sellers approval. 2% brokers participation offered to licensed agents/brokers. Winning bidder must submit 10% down on the day of the day of the auction and close within 30 days. Time is of the essence. Seller guarantees free and clear title. Purchaser pays all closing cost and title insurance. The house sells AS IS, without contingencies. Appliances are not included. Utility Buildings located on the property are not included. Auctioneer is representing the seller in this transaction and not the buyer.
Terms and conditions

Terms

REAL ESTATE AUCTION

These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.

Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.

The property will be sold by legal description and transferred by warranty deed.

A 10% buyers premium will be added to the winning bid to determine the final sales
price.

Example: $200,000 bid, plus $20,000 (10% buyers premium) equals $220,000 gross sales price.

The terms are 10% down payment with the balance due within 30 days.

Purchaser to receive possession of the property upon delivery of deed at closing.

Purchaser to pay closing cost and title insurance. Seller guarantees
title to be free and clear.

Ad Valorem taxes will be prorated at closing.

PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.

BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “As
Is” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure of any bidder to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of a bid, offer or earnest money after its opening
or tender.

All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.

Default by the Seller: If the Sellers are unable to make conveyance and to give title as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.

Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.

AGENCY DISCLOSURE: Larry “Chip” Pearce Jr. has not been an agent for the Buyer in this
transaction. Larry “Chip” Pearce Jr. has been an agent for the Seller in this
transaction and is to be paid a commission by the Seller.

The Auctioneer reserves the right to reject bids from anyone who does not comply
with the terms and conditions of this auction.

Bidding: Bidding info- When you bid your max the current bid price doesn't automatically go to your max bid. Someone else has to bid to increase the current price and the
computer will automatically bid up to your max in the increments specified.

This auction has what is called an auto extend feature, meaning the auction will not close until all bidding parties are satisfied. If any bids are placed within the last 5 minutes of the auction, the bid on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes.