Bank Owned Former Motel in Bamberg, SC
35 Rooms on 2.52+/- Acres
BANK ORDERED SALE!!
Friday, October 13th @ 11:00AM -Onsite
2448 Main Hwy, Bamberg (Bamberg County) SC 29003
Property Description: 9,900+/- SF former Motel with 35 Rooms each measuring 17′ X 14′ on 2.52+ Acres in the Town of Bamberg with access from Main Hwy and New Bridge St. The Motel was built in the 1950’s with Brick Exterior. There are 45 Parking Spaces on an Asphalt PArking Area.
- Tax Map# 0086-04-02-023
- Zoning: C-Commercial
- Utilities: Electricity, Water, Sewer & Gas
- 2016 Taxes were $6,636 (Seller will pay all back taxes, if any, and 2017 taxes will be prorated up until the date of closing)
- Seller guarantees marketable title free of any liens to be conveyed through a Limited Warranty Deed.
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.
Property Inspection: Call for an appointment
Closing Attorney: Closing attorney fees paid by buyer.
Contact Rickey Heaton at 864-350-0323 with any questions regarding this property or the auction process.
AUCTION REGISTRATION: Auction registration will begin one half hour before each auction. In order to register, you must present a valid drivers license or other form of identification, and evidence of a checkbook or other means of paying the required earnest money deposit. ALL AUCTIONS ARE ONSITE UNLESS NOTED.
PROPERTY INSPECTION: Call for Appointment.
AUCTION INFORMATION OFFICES: The auction information office is located at 26 Seashell Ct., Simpsonville, SC 29681, phone 1-800-766-7110. Fax: (864) 228-3582. Brochures, Auction Real Estate Sales Contracts, and other information may be obtained by calling the office, or by visiting our website at www.palmettoauction.com.
TERMS OF SALE FOR REAL ESTATE: Successful bidders will pay an initial earnest money deposit of ten (10%) of the purchase price (bid amount plus buyer’s premium), or as otherwise noted in the listing. Upon conclusion of the bidding, bidder will sign an Auction Real Estate Sales Contract, and may write a locally drawn personal or business check for the required earnest money deposit. The earnest money deposit is non-refundable for all sales.
Closing must occur within 30 days following the auction unless extended in writing by mutual consent of the parties. It is purchaser’s responsibility to schedule closings. Buyer not closing within the contractual time period to close may forfeit his/her earnest money deposit. Failure to schedule the closing does not relieve purchaser of obligation to close or forfeit earnest money. The successful bidder for the property shall execute an Auction Real Estate Sales Contract for the property immediately after being declared the successful bidder by auctioneer. A form Auction Real Estate Sales Contract is available from the auctioneers. The Auction Real Estate Sales Contract which successful bidders must sign at the auction contains an acknowledgment that the purchaser 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 REAL ESTATE SALES CONTRACT OR ANY EXHIBITS ATTACHED THERETO, AND THE HIGH BIDDER WILL BE OBLIGATED TO EXECUTE AND DELIVER SAID AUCTION REAL ESTATE SALES CONTRACT ON AUCTION DAY. Provided, however, Seller reserves the right to modify or amend said Auction Real Estate Sales Contract, 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.
BUYER’S PREMIUM: Unless noted otherwise, property sold at this auction 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 $1,000 bid, plus the $100 buyer’s premium, equals the $1,100 final purchase price.
FINANCING: Please note that financing is NOT a contingency of any of the auctions. Because financing is NOT a contingency, the Auctioneer and Seller strongly recommend that all potential bidders 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. It is purchaser’s responsibility to verify all information provided herein. 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.
KEYS: Neither Auctioneer nor Sellers warrant key availability on any property. If available, keys will be provided at closing. However, bidders are strongly advised to re-key any properties immediately after closing.
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 1-800-766-7110.
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 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, loan closing costs, and closing attorney fees are at the expense of the Buyer.
Loan closing costs are at the buyer’s expense, if buyer chooses to finance the property. Information was gathered from reliable sources and is believed to be correct as of the date this brochure is published, however, this information has not been independently verified by sellers or auctioneers. Its accuracy is not warranted in any way including, but not limited to, information set forth herein concerning property taxes, easements, utilities, covenants and restrictions, zoning, acreage of parcel, and nature of improvements. 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 (including information appearing in this brochure or announcements made at the time of the auction) except as expressly set forth in the Auction Real Estate Sales Contract. Buyers accept all conditions, restrictions, and easements of record. There is no minimum starting bid required on any unit. Bid increments are at the sole discretion of auctioneer. Properties which are not indicated in the listings as selling regardless of price are sold with reserve. Bidder acknowledges that seller and auctioneer and their employees, agents, affiliates, and associates reserve the right to place bids on properties sold with reserve up to the seller’s reserve price, at their sole discretion. Neither seller, auctioneer, nor their representatives may bid above the reserve price. There is no obligation on the part of the sellers to accept any backup bids in the event the high bid falls through.
BROKER PARTICIPATION INVITED: Unless noted otherwise in property listing or herein, a broker commission of twenty (20%) of Auctioneer commission will be paid on real estate. For most transactions, this will equate to a commission of two (2%) of the bid amount of that transaction. In keeping with the Sherman Anti-trust Laws, commissions between a Seller and the Auctioneer are confidential and not discussed. A 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 email or fax on the attached Buyer’s Broker Participation Form which must be signed by the prospect and the Broker, and must be received at the office of Palmetto Auction & Realty, LLC no later than 5:00 PM two (2) days prior to each auction via fax or mail. Broker must also attend the auction and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
LEAD BASED PAINT: It is possible that homes sold in this auction, built prior to 1978, may have lead based paint. Pursuant to HUD and EPA regulations, prospective bidders at this auction are advised to satisfy themselves prior to the auction as to the existence or non-existence of lead based paint in any home they intend to purchase. Successful bidders are advised to satisfy themselves of same at least ten (10) days prior to auction. The “Auction Real Estate Sales Contract” will include a Federal form about lead based paint; seller and successful bidder will acknowledge same at the signing of the aforesaid Contract. Bidders are encouraged to contact the auctioneer for a copy of the EPA pamphlet regarding lead based paints. Auction bidders expressly waive the right to cancel the sale following the auction if lead based paint is found afterward. Buyer hereby holds harmless the sellers, auctioneer, attorneys, their assignees, agents, employees, etc. from any and all responsibility of any kind associated with lead based paint in any of the properties purchased.
DISCLOSURE: In all transactions, the auctioneers are acting as agents for the Seller, not as buyer’s agents.