FORMER EAST-SIDE BANK BUILDING ONLINE AUCTION

20 FORMER BRANCHES IN 8 STATES


GALLIVAN, IN ASSOCIATION WITH AUCTION MANAGEMENT CORP., IS PLEASED TO OFFER THIS EAST-SIDE FORMER BANK BRANCH, ALONG WITH 19 OTHERS IN MULTIPLE STATES AT ABSOLUTE ONLINE AUCTION.  

ONLINE BIDDING ONLY
Began: 08/21/19 at 1:00 PM EDT
Ended: 08/28/19 at 12:00 PM EDT
INSPECTION
Began: 08/22/19 at 1:00 PM EDT
Ended: 08/22/19 at 4:00 PM EDT
Location: 8910 E 38th St, Indianapolis, IN 46226


ABSOLUTE AUCTION

No Minimums – No Reserves

20 Former Bank Buildings & Sites

In AR-IA-IL-IN-LA-MO-MS-TN

August 28, 2019

Online Only

 

ARKANSAS:       127 E Main St, Booneville, AR 72927                        Thursday, August 28th at 11 AM CT

                                825 Highway 463 N, Trumann, AR 72472               Thursday, August 28th at 11 AM CT

                                4902 E Nettleton Ave, Jonesboro, AR 72401         Thursday, August 28th at 11 AM CT

                                100 S Allis St, England, AR 72046                             Thursday, August 28th at 11 AM CT

IOWA:                  2532 Crossroads Blvd, Waterloo, IA 50702             Thursday, August 28th at 11 AM CT

ILLINOIS:           .23 Acres Jerome Ln, Cahokia IL 622066                 Thursday, August 28th at 11 AM CT

                                900 Upper Cahokia Rd, Cahokia, IL 62206             Thursday, August 28th at 11 AM CT

                                105 W Alabama, Casey, IL 62420                                Thursday, August 28th at 11 AM CT

INDIANA:           8910 E 38th St, Indianapolis, IN 46226                    Thursday, August 28th at 12 Noon ET

LOUISIANA:      911 W Main St. Homer, LA 71040                               Thursday, August 28th at 11 AM CT

MISSOURI:        127 E Main St, E Prairie, MO 63845                           Thursday, August 28th at 11 AM CT

423 1st Capitol Dr, St Charles, MO 63301                Thursday, August 28th at 11 AM CT

1416 Harvestowne Ind Dr, St Charles, MO 63304 Thursday, August 28th at 11 AM CT

MISSISSIPPI:    162 W Main St, Centreville, MS 39631                      Thursday, August 28th at 11 AM CT

                                200 Hwy 7 S, Greenwood, MS 38930                        Thursday, August 28th at 11 AM CT

                                117 N Jackson St, Houston, MS 38851                      Thursday, August 28th at 11 AM CT

TENNESSEE:   124 S Main St, Ridgely TN 38080                               Thursday, August 28th at 11 AM CT

                                144 E Main St, Whiteville, TN 38075                        Thursday, August 28th at 11 AM CT

                                202 E Main St, Rutherford, TN 38369                     Thursday, August 28th at 11 AM CT

6705 Morganton Rd, Greenback, TN 37742           Thursday, August 28th at 12 Noon ET    

For property information, auction terms, bidding instructions, and updates, go to

www.AMCbid.com

TOLL FREE 877-980-9565

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

1827 POWERS FERRY ROAD, BLDG. 5

ATLANTA, GA   30339

770-980-9565, TOLL FREE 877-980-9565

www.AMCbid.com

AMC LOGO

 

Questions? Visit www.AMCbid.com, email info@AMCbid.com, or 770-980-9565

 

 

Julian E Howell, TNAL#5451

Auctions conducted in cooperation and conjunction with:

Paul Colvin, AALB 1103

Brent Wears, IA Broker

Ahrens & Niemeier Auctioneers, IL License #040000762

Matt Gallivan, IN RB10437191, IN AU10500124

Buster Gay, LAAL #1108

 

 

AR-IA-IL-IN-LA-MO-MS-TN

Each Selling Online Only to the Highest Bidder – Regardless of Price!

 

 

ARKANSAS

Property #301 

 

Online Only Absolute Auction

4,984±SF Former Bank Branch on 1.2± Acres

127 E Main St, Booneville, AR 72927 (Logan County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August  at :00 M CT SHARP

Sale Manager: Paul Colvin, (479) 790-5513, paul@blockauction.com

 

Property Description:

 

Former bank branch office building with 4,984±SF on 1.2± Acres located at a signalized intersection with great visibility. Single story mostly brick building constructed in 1992 with approximately 50 parking spaces and covered three lane drive through.

 

Tax Map Parcel ID #: 800-00868-000

2017 County Tax Appraised Value: $747,950

2017 County Property Taxes: $7,704.39

 

Paul Colvin, AALB #1103

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

ARKANSAS

Property #303 

 

Online Only Absolute Auction

7,500± SF Former Bank Branch on 3± Acres

825 Highway 463 N, Trumann, AR 72472 (Poinsett County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August at :00 M CT SHARP

Sale Manager: Paul Colvin, (479) 790-5513, paul@blockauction.com

 

Property Description:

 

Former bank branch office building with 7,500±SF on 3± Acres. Single story brick building constructed in 1987 with approximately 30 parking spaces and covered three lane drive through.

 

County Tax Map Parcel ID #: 555-02309-0001

2018 County Tax Appraised Value: $488,900

2018 County Property Taxes: $5,006.31

 

Paul Colvin, AALB #1103

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

ARKANSAS

Property #305

 

Online Only Absolute Auction

4,428± SF Footprint Former Bank Branch on .5± Acres

4902 E Nettleton Ave, Jonesboro, AR 72401 (Craighead County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August  at :00 M CT SHARP

Sale Manager: Paul Colvin, (479) 790-5513, paul@blockauction.com

 

Property Description:

Former bank branch commercial building with 4,428±SF on .5± Acres. Single story brick building constructed in 19 with approximately 16 parking spaces and covered two lane drive through.

 

County Tax Map Parcel ID #: 01-144271-01400

2018 County Tax Appraised Value: $

2018 County Property Taxes: $

 

 

Paul Colvin, AALB #1103

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

ARKANSAS

Property #307

 

Online Only Absolute Auction

5,600± SF Former Bank Branch on .39± Acres

100 S Allis St, England, AR 72046 (Lonoke County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August at :00 M CT SHARP

Sale Manager: Paul Colvin, (479) 790-5513, paul@blockauction.com

 

 

Property Description:

 

 

Paul Colvin, AALB #1103

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

IOWA
Property #401 

Online Only Absolute Auction

9,965± SF Former Bank Branch on 2.5± Acres

2532 Crossroads Blvd, Waterloo, IA 50702 (Black Hawk County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: Inspect Anytime

Sale Manager: Brent Wears, 404-408-5222 or info@amcbid.com

 

Property Description:

 

Brent Wears, IA Broker

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

ILLINOIS

Property #501

 

Online Only Absolute Auction

.23± Acre Residential/ Commercial Lot

Jerome Ln, Cahokia IL 622066 (St Clair County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: Inspect Anytime

Sale Manager:  Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers, IL License #040000762

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

ILLINOIS

Property #503 

 

Online Only Absolute Auction

8,600±SF Former Bank Branch on 1.3± Acres

900 Upper Cahokia Rd, Cahokia, IL 62206 (St Clair County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August  at :00 M CT SHARP

Sale Manager: Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers, IL License #040000762

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

ILLINOIS

Property #505 

 

Online Only Absolute Auction

14,000± SF Former Bank Branch on 1.31± Acres

105 W Alabama, Casey, IL 62420 (Clark County)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August at :00 M CT SHARP

Sale Manager: Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers, IL License #040000762

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

INDIANA

Property #601

 

Online Only Absolute Auction

4,325± SF Footprint Former Bank Branch on .9± Acres

8910 E 38th St, Indianapolis, IN 46226 (Marion County)

Bidding Opens: Monday, August 19 at 12 Noon ET

Bid Deadline: Thursday, August 28 at 12 Noon ET

Inspection: day, August  at :00 M ET SHARP

Sale Manager: Matt Gallivan, (317) 698-8508 or matt@njgallivan.com

 

Property Description:

 

Matt Gallivan, IN RB10437191, IN AU10500124

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

LOUISIANA

Property #701

 

Online Only Absolute Auction

8,174± SF Former Bank Branch on 2.8± Acres

911 W Main St. Homer, LA 71040 (Claiborne Parrish)

Bidding Opens: Monday, August 19 at 11:00 AM CT

Bid Deadline: Thursday, August 28 at 11:00 AM CT

Inspection: day, August at :00 M CT SHARP

Sale Manager: Buster Gay, 318-376-3523, bustergay@bellsouth.net

 

 

Property Description:

 

Buster Gay, LAAL #1108

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

MISSOURI

Property #801

 

Online Only Absolute Auction

5,000± SF Former Bank Branch on .3± Acres

127 E Main St, E Prairie, MO 63845 (Mississippi County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

MISSOURI

Property #803

 

Online Only Absolute Auction

4,500± SF Former Bank Branch on 1.45± Acres

423 1st Capitol Dr, St Charles, MO 63301 (St Charles County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

MISSOURI

Property #805

 

Online Only Absolute Auction

5,262± SF Former Bank Branch on .81± Acres

1416 Harvestowne Ind Dr, St Charles, MO 63304 (St Charles County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: Gary Niemeier, 877-462-7673 or auctiongary@gmail.com

 

Property Description:

 

Gary Niemeier, Ahrens & Niemeier Auctioneers

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

MISSISSIPPI

Property #901

 

Online Only Absolute Auction

3,871± SF Former Bank Branch

162 W Main St, Centreville, MS 39631

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: John Mozingo III, (228) 697-5680 or jmozingo3@gmail.com

 

Property Description:

 

Mozingo Real Estate & Auction,  MS Broker, MSAL# 268

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

MISSISSIPPI

Property #903

 

Online Only Absolute Auction

1,500± SF Former Bank Branch

200 Hwy 7 S, Greenwood, MS 38930 (Leflore County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: John Mozingo III, (228) 697-5680 or jmozingo3@gmail.com

 

Property Description:

 

Mozingo Real Estate & Auction,  MS Broker, MSAL# 268

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

MISSISSIPPI

Property #905

 

Online Only Absolute Auction

8,556± SF Former Bank Branch

117 N Jackson St, Houston, MS 38851 (Chickasaw County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 AM CT

Inspection: day, August at  M CT SHARP

Sale Manager: John Mozingo III, (228) 697-5680 or jmozingo3@gmail.com

 

Property Description:

 

Mozingo Real Estate & Auction,  MS Broker, MSAL# 268

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

TENNESSEE

Property #1001

 

Online Only Absolute Auction

4,594± SF Former Bank Branch on 1.03± Acres

124 S Main St, Ridgely TN 38080 (Lake County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 M CT

Inspection: day, August at  M CT SHARP

Sale Manager: Jeb Howell 404-408-5222 or info@amcbid.com

 

Property Description:

 

Julian E Howell, TN Auctioneers License #5451

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

TENNESSEE

Property #1003

 

Online Only Absolute Auction

6,612± SF Former Bank Branch

144 E Main St, Whiteville, TN 38075 (Hardeman County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 M CT

Inspection: day, August at  M CT SHARP

Sale Manager: Jeb Howell 404-408-5222 or info@amcbid.com

 

Property Description:

 

Julian E Howell, TN Auctioneers License #5451

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

TENNESSEE

Property #1005

 

Online Only Absolute Auction

2,839± SF Former Bank Branch

202 E Main St, Rutherford, TN 38369 (Gibson County)

Bidding Opens: Monday, August 19 at 11 AM CT

Bid Deadline: Thursday, August 28 at 11 M CT

Inspection: day, August at  M CT SHARP

Sale Manager: Jeb Howell 404-408-5222 or info@amcbid.com

 

Property Description:

 

Julian E Howell, TN Auctioneers License #5451

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

TENNESSEE

Property #1007

 

Online Only Absolute Auction

7,684± SF Former Bank Branch on .65± Acres

6705 Morganton Rd, Greenback, TN 37742 (Loudon County)

Bidding Opens: Monday, August 19 at 12 Noon ET

Bid Deadline: Thursday, August 28 at 12 Noon ET

Inspection: day, August at  M ET SHARP

Sale Manager: Jeb Howell 404-408-5222 or info@amcbid.com

 

Property Description:

 

Julian E Howell, TN Auctioneers License #5451

 

Terms:  Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.

 

 

AUCTION TERMS AND 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, and you must confirm that you have reviewed the posted material including these Terms and the Title Commitments posted for each property. You must provide proof of funds from your bank that you have 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 with the account number blacked out showing sufficient funds for earnest money deposit. All registrations must be completed online at our website in advance of the auction.

 

AUCTION INFORMATION & OFFICES: All available material and updates are posted to www.amcbid.com . Due diligence materials, Title Commitments, 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 one percent (1%) 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 email to info@amcbid.com, fax to 770-980-9383 or mail or hand delivery to 1827 Powers Ferry Rd, Bldg 5, Atlanta Ga 30339 using the Broker Registration 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 the 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. 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: Online bidding will begin ten days prior to the auction. The auction ends when the highest bid is recognized by the Auctioneer. The auction begins to end on August 28th at 11 AM CT/ 12 Noon ET. Any bid within the last five minutes of the bid deadline causes an automatic extension of bidding. All of the assets in the auction are in the same extension group, which means that a bid placed on any of the assets extends the bidding on all of the assets for 5 minutes. When 5 minutes passes with no bidding on any assets, the auction closes. Because bidders may bid on different assets, the auction could therefore continue for several minutes to an hour or two after the initial bid deadline. Bid increments and bidding methodology are subject to change at the sole discretion of the Auctioneer.

 

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 $100,000 bid, plus the 10% ($10,000) Buyer’s Premium, equals the $110,000 final Purchase Price.


TERMS OF SALE FOR REAL ESTATE: Winning bidders (“Purchasers”) will pay an Earnest Money deposit of ten percent (10%) of the Purchase Price (bid amount plus Buyer’s Premium). Upon conclusion of the bidding, Purchaser will sign the Auction Purchase and Sale Agreement (“Auction PSA”), and must submit  earnest money deposit in the form of a wire transfer to Closing Agent/ Escrow Holder as specified in the Auction PSA. The Earnest Money deposit is non-refundable.

Closing must occur no later than 20 days from the auction date unless extended in writing by mutual consent of the parties. Purchaser not closing within the contractual time period to close or failing or refusing to close in accordance with the terms of the Auction PSA may forfeit his/her Earnest Money deposit. Purchaser shall execute the Auction PSA for the Property immediately after being declared the successful bidder by Auctioneer. The Auction PSA for each asset will be made available on our website at www.amcbid.com prior to the auction. The Auction PSA which Purchaser must sign at the auction contains an acknowledgment that Purchaser has inspected the property and has reviewed the Title Commitment 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 PURCHASER 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 (ie, Earnest Money, Closing Funds) must be in the form of wire transfer only.

 

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.

 

CLOSING AGENT/ ESCROW HOLDER: unless specified otherwise in The Auction PSA, the Earnest Money shall be delivered to Chicago Title Insurance Company, Two Gateway Center, 19th Floor, 603 Stanwix Street, Pittsburgh, Pennsylvania 15222-1402, with the individual contact being William Weinheimer at (412) 904-6891 and weinheimerw@ctt.com (“Escrow Holder”). Following the auction, Auctioneer will provide Escrow Holder wiring instructions to Purchasers.  Escrow Holder shall deposit and hold the Earnest Money in Escrow Holder’s escrow account which is a non-interest bearing account at an FDIC insured financial institution. Escrow Holder will also act as Closing Agent.

 

TITLE COMMITMENT: Title Commitments for each Property will be posted to Auctioneer’s website prior to the auction of each Property. At Closing, Seller shall convey and transfer title to the Property to Purchaser by special warranty deed (“Deed”) subject to the conditions, exclusions and exceptions as set forth in the title commitment issued by a national title insurance company and made available to Purchaser prior to Purchaser submitting Purchaser’s bid at auction (“Title Commitment”) and Purchaser shall accept the delivery of the Deed subject to conditions, exclusions and exceptions as set forth in the Title Commitment. Purchaser is responsible for reviewing Title Commitment and ensuring that Purchaser is comfortable with all conditions, exclusions and exceptions prior to bidding.

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.

CLOSING COSTS: Purchaser shall pay the expenses (a) of recording the Deed including, but not limited to, any deed, document stamps, intangible, and/or transfer tax or fee, (b) for the Title Commitment, (c) for any title insurance policy that is to be issued in favor of Purchaser including, but not limited to, the premium and expenses of any needed endorsements, (d) associated with Purchaser’s financing and any and all costs associated with the recordation of any documents concerning Purchaser’s financing, (e) of the Closing Agent in the amount of $750.00 for Closing the transaction contemplated by this Agreement, and (f) of Purchaser’s attorney or other professionals engaged to perform services by Purchaser relating to the purchase and sale of the Property.

Seller shall pay the expenses (a) of preparation and delivery of the Deed to Purchaser, (b) for Auctioneer, and (c) of Seller’s attorneys or other professional engaged to perform services by Seller relating to the purchase and sale of the Property.

Seller shall be responsible for any and all taxes and assessments, including any interest, penalties or fees, incurred prior to the Closing Date. Purchaser shall be responsible for all taxes and assessments accruing on and after the Closing Date. The Closing Statement shall reflect such proration based on the most recent and available tax rate and valuation. Any other expenses relating to the Closing, if any, shall be allocated between and charged to Purchaser and Seller in accordance with Title Company’s standard practices. If any errors or omissions are made regarding any proration, Seller and Purchaser shall make the appropriate corrections promptly upon the discovery of such error or omission.

 

If the Closing fails to take place for any reason, Escrow Holder shall be entitled to compensation in the amount of $250.00 (“Escrow Fee”) which amount shall be paid by Purchaser, provided, however, if the Closing fails to take place due to a default by Seller, Seller shall pay the Escrow Fee.

 

PURCHASER’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 or live webcast bidding platform if deemed necessary prior to 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. Purchaser warrants that Purchaser is an experienced and sophisticated purchaser and seller of commercial real estate of the nature and type covered by this auction, has read and understands the Auction PSA, has consulted with a real estate attorney of Purchaser’s choice prior to bidding on any assets in the auction and has had adequate time to review the Auction PSA, and will knowingly and voluntarily enter into agreement as specified in the Auction PSA. Property sells As Is – Where Is with no warranties expressed or implied. Real property to be conveyed by special warranty deed (referred to as limited warranty deed in Georgia). 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 Seller does not have any liabilities whatsoever for any oral or written for 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 bidder fails to perform.

 

 

Also Selling:

ARKANSAS:       127 E Main St, Booneville, AR 72927                        Thursday, August 28th at 11 AM CT

                                825 Highway 463 N, Trumann, AR 72472               Thursday, August 28th at 11 AM CT

                                4902 E Nettleton Ave, Jonesboro, AR 72401         Thursday, August 28th at 11 AM CT

                                100 S Allis St, England, AR 72046                             Thursday, August 28th at 11 AM CT

IOWA:                  2532 Crossroads Blvd, Waterloo, IA 50702             Thursday, August 28th at 11 AM CT

ILLINOIS:           .23 Acres Jerome Ln, Cahokia IL 622066                 Thursday, August 28th at 11 AM CT

                                900 Upper Cahokia Rd, Cahokia, IL 62206             Thursday, August 28th at 11 AM CT

                                105 W Alabama, Casey, IL 62420                                Thursday, August 28th at 11 AM CT

INDIANA:           8910 E 38th St, Indianapolis, IN 46226                    Thursday, August 28th at 12 Noon ET

LOUISIANA:      911 W Main St. Homer, LA 71040                               Thursday, August 28th at 11 AM CT

MISSOURI:        127 E Main St, E Prairie, MO 63845                           Thursday, August 28th at 11 AM CT

423 1st Capitol Dr, St Charles, MO 63301                Thursday, August 28th at 11 AM CT

1416 Harvestowne Ind Dr, St Charles, MO 63304 Thursday, August 28th at 11 AM CT

MISSISSIPPI:    162 W Main St, Centreville, MS 39631                      Thursday, August 28th at 11 AM CT

                                200 Hwy 7 S, Greenwood, MS 38930                        Thursday, August 28th at 11 AM CT

                                117 N Jackson St, Houston, MS 38851                      Thursday, August 28th at 11 AM CT

TENNESSEE:   124 S Main St, Ridgely TN 38080                               Thursday, August 28th at 11 AM CT

                                144 E Main St, Whiteville, TN 38075                        Thursday, August 28th at 11 AM CT

                                202 E Main St, Rutherford, TN 38369                     Thursday, August 28th at 11 AM CT

6705 Morganton Rd, Greenback, TN 37742           Thursday, August 28th at 12 Noon ET    

 

 

Inquiry:

 

Inquiry Regarding August 28th Auction of Former Bank Bldgs and Sites

Thank you for your inquiry regarding our Online Only Absolute Auctions of Former Bank Buildings and sites in AR-IA-IL-IN-LA-MO-MS-TN

 

Click HEREto view the auction on our website. There you will find additional photos and all available due diligence materials for each asset.

 

Please note: whereas it is possible that our listings are posted to other websites with a stated price (required by sites such as Zillow), these assets could sell for more or less than the stated price since this is an Absolute Auction with no minimum bid.

 

 

 

Registration:

 

Getting Approved to Bid in our August 28th Auction of Former Bank Bldgs

Thanks for registering for our Online Only Absolute Auctions of Former Bank Buildings and sites in AR-IA-IL-IN-LA-MO-MS-TN

 

In order for us to enable you to bid, we require the following from you:

 

1. You must specify the exact name, address and contact information of the entity who is bidding, and provide authorization for you to bid in its name.

 

2. We will require proof of funds. A current bank statement would be recommended, you can black out the account number. Either email to info@AMCbid.com, or fax to 770-980-9383. If you wish to provide an alternate proof, such as an audited financial or letter from your bank, we can submit that for consideration.

3. Please read the following material carefully in order to be approved to bid online. You will have to respond affirmatively in order to be approved to bid.

We strongly recommend that you have a lawyer review the auction Purchase & Sale Agreement (PSA) before you submit your bidding credentials outlined in this email. This PSA is posted to our website along with the other due diligence items. Following the auction we will send the PSA to you and it must be signed and returned immediately. IT CANNOT BE CHANGED.

 

The transaction must close within 20 days of the auction. By bidding, you are agreeing that you understand the closing time required.

 

PLEASE NOTE that in order for us to authorize you to bid, you must reply affirmatively to this email to the following items:

 

1) I understand that, if I am the winning bidder, I will be sent the PSA to promptly sign and return in accordance with the instructions accompanying the PSA, within 12 hours of time of sending. This will be the same PSA which has been posted to the Auction Management Corporation website, and I and my attorney have reviewed the PSA and I understand that no changes may be made to the PSA.

 

2) I understand that, if I am the winning bidder, I will have 24 hours within which to wire the balance of the required Earnest Money Deposit of twenty percent of the Purchase Price (Bid Amount Plus Buyers Premium) to the escrow agent in accordance with the wiring instructions sent with the PSA.

 

If you agree to Items 1 and 2 above, please respond to this email with the words “I Agree” following this sentence:_____________________

 

You will then be enabled to bid.

 

For all property-related questions, please contact the appropriate sale manager listed below:

 

TN:  Austin McRoberts 404-408-5222, austin@amcbid.com or Jeb Howell 770-841-9924, jeb@amcbid.com

IL:  Mark Rosenburg 309-688-6888 or mark@oakwoodrealestate.net

IN:  Greg Stout 765-412-2034 or greg@stoutauctions.com

KY:  Don Erler 502-592-8858, don@donerler.com

 

For questions regarding registration for this auction, please contact Heidi Googe at 404-821-8069, heidi@amcbid.com

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Gallivan Auctioneers & Appraisers

http://njgallivan.com

7170 Zionsville Road Indianapolis, IN 46268

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