Bank Ordered Auction – 17.34 Commercial Acres, 227 West Montgomery Crossroads, Savannah GA
Bank Ordered Auction
Date: Thursday, August 30th 11 AM
17.34 Commercial Acres
227 Montgomery Crossroads, Savannah Georgia
Offered in two tracts and as a whole
Tract 1: 12.16 Acres
Tract 2: 5.18 Acres
Offered as two tracts and as a whole.
-Tract 1: 12.16 Acres
-Tract 2: 5.18 Acres
BANK OWNED PROPERTY
- Offered as a two tracts and as a w whole. Tract 1: 12.16 Acres, Tract 2: 5.18 Acres
- Zoned – PUD-M-25 (Multifamily)
- Flood Zone X (outside 100 yr Flood Plain)
- 17.34 usable acres of undeveloped commercial land located off West Montgomery Crossroads in Savannah, Georgia.
- Zoned for Multifamily use, previously approved for assisted living development totaling 288 units.
- Directly across from Hunter Army Air Field Golf Club
- Next to John Wesley Villas Retirement Community
- Next to Magnolia Villas
- Convenient to Armstrong Atlantic University
- 2-0644 -01-04
25% Down at time of closing, 12 months interest only at current market rates, interest to be paid monthly. Possible renewal based on purchaser’s payment performance. Purchaser must maintain 3-month interest reserve at all times unless able to document cash flow.
“All terms and conditions are subject to credit approval by the bank in its sole discretion.”
The Westin Savannah Harbor Golf Resort & Spa
1 Resort Drive • Savannah, Georgia 31421 • Phone: (912) 201-2000
227 West Montgomery Crossroads, Savannah GA 31406
For Auction Information – Mark Maier (912) 661-1990
TERMS AND CONDITIONS:
REGISTRATION: All bidders must show a valid driver’s license or state issued identification and sign the registration form stating that you agree with the terms and agreement and will perform your duties as a bidder as such.
OFFERING METHOD: The property will be offered in total dollars as a lump sum bid.
DOWN PAYMENT: 10% down payment immediately following auction. The down payment may be made in the form of cashier’s check, personal check, or corporate check.
FINANCING CONTINGENCY FORBEARANCE: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING. THE PURCHASE AND SALES CONTRACT WILL NOT HAVE A FINANCING CONTEGICY CLAUSE IN IT so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid to determine the final contract price.
PURCHASE SALE CONTRACT: All successful bidders will be required to sign a Purchase Sale Contract at the auction site immediately following the close of the auction. All final bid prices are subject to the Seller’s acceptance or rejection.
DEED: Seller shall provide Limited Warranty Deed. Real estate sold subject to all rights of way, legal highways, leases, and easements.
CLOSING: The balance of the purchase price is due at closing, which will take place no later than Friday, September 28, 2012. Attorney’s fee will be paid by the purchaser(s). All lender costs shall be paid by the purchaser(s).
POSSESSION: Possession of real estate will be granted at closing.
REAL ESTATE TAXES: The 2012 taxes will be prorated on the day of closing. All previously owed taxes have or will be paid by the seller.
ACREAGE: All tract acreage, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
SURVEY: If a new survey is needed for any tracts the cost shall be paid by the purchaser(s).
PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries, and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Please feel free to inspect the land at any other time at your own risk.
EASEMENTS: Subject to any and all existing easements.
AGENCY: Maier Auctions and Realty, Inc. and its representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.