House w/ Dock on Lake Lanier

CORPORATE LIQUIDATION
ONLINE AUCTION

1295 Timber Lake Trail, Cumming, GA 30041
Forsyth County
 
BID DEADLINE (Starts to Close): Thur, August 1st @ 11 AM

 
ASSET DESCRIPTION: Built in 1972, this property is a 4 bedroom / 3 bath ranch on a .54+/- acre lakefront lot. Property consists of approximately 2,912+/- sq.ft. Property highlights include: master on main, finished basement, hardwood floors on main, carpet in bedrooms, tile in bathrooms, new stainless steel range and dishwasher, walk out acces to back deck from living room and master, firepit, 2 fireplaces, basement is stubbed for 2nd kitchen (water and electric), double decker dock w/ single boat slip, new roof (2024), and approximately 124.81' of rear property line that backs up to the Corp. line and Lake Lanier. Forsyth County Tax Parcel ID: 198-198.

Property is located approximately 1 mile from Marketplace Blvd. (quick access to major retailers, etc.) and approximately 3.5 miles from the Cumming City Center.

ONLINE BIDDING REGISTRATION: Online bidding to begin on July 21st, 2024.

INSPECTION: Please contact Auctioneer for instructions.

You are STRONGLY advised to inspect the property and reply on your own findings. Please contact Scott Schwartz at 404-550-3490 or scott@bullseyeauctions.com or Rick Sammons at 770-490-0798 or rick@bullseyeauctions.com

TERMS: Non-refundable earnest money deposit of $20,000 required within 24 hours of contract acceptance. Earnest money to be wired directly to Trustee. Closing to occur within 30 days of contract acceptance.  

CLOSING ATTORNEY: Property to close at the offices of William Phalen, Sherman & Phalen, LLC, 1165 Northchase Parkway SE, Suite 450, Marietta, GA 30067, Phone: 770.579.0109. 

LEGAL CONTRACT: Your participation in our auction is your acknowledgement and acceptance of the terms and conditions presented here. Your failure to adhere to any of these terms and conditions may constitute a breach of contract and may cause irreparable harm to Bullseye Auction & Appraisal and/or our client. In this event, we and/or our client(s) may attempt to recover any financial or other damages by pursuing any action afforded by law.

BUYER’S PREMIUM: There is an 8% Buyer’s Premium for this auction. Example: For a high bid of $100,000, an 8% buyer’s premium of $8,000 will be added making the purchase price $108,000.

BUYER’S NOTE: Real estate is being sold “AS IS, WHERE IS” with no warranties expressed or implied. Buyers should carefully inspect. The real estate is subject to sale prior to auction end date. Online bid increments are at Auctioneer’s discretion.

CLOSING: Purchaser responsible for designating closing attorney and all associated costs. Property to close within 30 days of contract acceptance. Please click "Documents" for auction terms and conditions.

SALE MANAGERS:
Scott Schwartz at 404-550-3490, GAL# 2643
Rick Sammons at 770-490-0798, GAL# 3575

Auction Conducted By:
Bullseye Auction & Appraisal, LLC
6470 E Johns Crossing, Suite 160, Johns Creek, GA 30097
770-544-7479

AUCTION TERMS AND CONDITIONS

AUCTION START & DEADLINE:  Online bidding to start on July 21^st at 6 AM.  The auction will start to close on Thursday, August 1st at 11 AM.  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:  Bullseye Auction & Appraisal, LLC is acting exclusively as agent for the Seller.

TERMS: A $20,000 non-refundable earnest money deposit must be wired to Bullseye Auction & Appraisal, LLC Escrow 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 Georgia law.

BUYER’S PREMIUM: There is an 8% Buyer’s Premium for this auction. Example: For a high bid of $100,000, an 8% buyer’s premium of $8,000 will be added making the purchase price $108,000.

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, Bullseye Auction and Appraisal, LLC, 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.

SALE MANAGER:  Please view individual website posting for Auction Sale Manager’s contact information.