Alabama Power Company Land Auction - Lake Martin off water parcels

PUBLIC AUCTION - Online Bidding Only

by order of ALABAMA POWER COMPANY

Bidding opens Friday, May 20 & Ends on Friday, June 17 @ 1:00pm central.

SELLING:  Lots & acreage tracts near Lake Martin in Elmore & Coosa County, Alabama.  Parcels offered in this auction are "off water" parcels located very near to the lake.

 (9) Total Parcels offered near Lake Martin 

1.  1.32 acres, m/l - Elmore County, AL  -  

This tract does not have a current 911 address, however, the adjacent property addresses range from: 

3300 - 3400 Litlle Kowaliga Road, Eclectic, AL

2.  .56 acres, m/l - Elmore County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

50-60 Easy Street, Eclectic, AL

3.  .26 acres, m/l - Elmore County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

30-50 Bains Circle, Eclectic, AL

4.  1.53 acres, m/l - Elmore County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

200-300 Pearly Drive, Equality, AL

830-850 Davis Road, Equality, AL

6.  1.17 acres, m/l - Elmore County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

80-90 Days Road, Equality, AL

7.  2.59 acres, m/l - Elmore County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

100-110 Hickory Drive, Eclectic, AL

8.  .57 acres, m/l - Coosa County, AL -

This tract does not have a current 911 address, however, the adjacent property addresses are: 

60-70 Whispering Cove, Equality, AL

550-560 Neros Point, Eclectic, AL

AUCTION TERMS & CONDITIONS

PUBLIC ONLINE LAND AUCTION

By Order of Alabama Power Company

Online Bidding ends Friday, June 17th starting at 1:00pm central time.

You can bid online or request an Absentee Bid form to complete and submit in person.  Pearce & Associates will also have available a "Bid Center" at the corporate offices of Pearce & Associates at 720 Fulton Springs Road, Alabaster, Alabama 35007.  Interested bidders can attend this bid center on the day of the auction to get assistance with setting up a bidder account and placing bids.  

Selling off water lots & land parcels near Lake Martin in Elmore & Coosa, County, Alabama.

This is an outstanding opportunity to purchase property that has never been offered to the public.  Online bidding starts at $1.00 on each parcel.  A 10% buyer’s premium will be collected by the auctioneer with a $500 per parcel minimum.  Example: $1.00 bid, plus $500 buyer’s premium, plus a $50 per parcel recording fee, equals a total of $551.00.  No Closing Cost, No formal closing.  Pearce & Associates will record the deed for the purchaser.

Terms:  All parcels are sold free and clear without liens.  Most parcels will sell without reserve to the highest bidder.  The Seller will provide a statutory warranty deed with no closing cost to the purchaser.  Each winning bidder shall be required to execute a non-contingent sales contract within 48 hours and submit earnest money.  Contracts under $5,000 require payment in full within 48 hours when the contract is submitted by Cashier’s Check or Bank Wire Transfer.  Contracts exceeding $5,000 require 20% down payment with the balance due within 30 days.  Ad Valorem taxes will be paid by the Seller.  Should the purchaser choose to purchase title insurance or require a formal closing, the cost will be paid by the purchaser.    Pearce & Associates will record deeds for the Seller and purchasers.  A flat fee of $50 will be paid by the purchaser to record the deed at the courthouse.

*  All bidders must register and agree to specific terms and conditions prior to being approved as a bidder.

*  Pearce & Associates does not allow bid retractions or bid withdrawals.

*  Each parcel offered will include a parcel ID# and legal description.

*  Documents available to print or download include a sample of the sale contract agreement, terms and conditions, sample statutory warranty deed.

Covenants & Restrictions ( As set out in each deed)

The Property is conveyed to the Grantee subject to the following:

A.    Any lien or charge for general or special taxes or assessments not yet delinquent.

B.    Mineral, mining, oil and gas and related rights and privileges not owned by the Grantor, if any.

C.    Encroachments, overlaps, boundary line disputes and other matters that would be revealed by an accurate survey or inspection of the Property.

D.    Riparian and littoral rights of third parties, if any, and any right, title or interest of the State of Alabama with respect to any stream on the Property, if any.

E.    Rights of third parties, including the public at large, with respect to any portion of the Property located in a public right of way, if any.

F.    Easements, covenants, reservations, conditions and restrictions of record.

G.    Utility easements and facilities serving the Property, whether of record or not.

H.     Express reservations for ingress and egress easements over and along existing driveways, if any, currently located on and burdening the Property, and which would be revealed by an accurate survey of the Property, for the benefit of those certain landowners whose lands are adjacent to the Property; notwithstanding whether such driveways were created through express or implied grants or by operation of law. 

1. This conveyance is made subject to a perpetual easement hereby reserved by the Grantor, for itself and for its successors and assigns, where Grantor’s facilities, if any, are presently located on or adjacent to the Property.  Said easement reserves the right from time to time to construct, install, operate, and maintain, upon, over, under, and across the Property all poles, towers, wires, conduits, fiber optics, cables, communication lines, transclosures, transformers, anchors, guy wires, and other facilities useful or necessary in connection therewith, for the overhead and/or underground transmission and distribution of electric power and communications.  Such right of way is located and extends five (5) feet on all sides of any such underground Facilities and fifteen (15) feet on all sides of said overhead facilities, as and where installed, together will all the rights or privileges necessary or convenient for the full enjoyment and use of said right of way for the purposes above described, including, without limitation, the right of ingress and egress to and from said facilities, as applicable, the right to excavate for installation, replacement, repair and removal of said facilities, the right in the future to install intermediate poles and facilities on said right of way, the right to install, maintain, and use anchors and guy wires on land adjacent to said right of way, and also the right to cut, remove, and otherwise keep clear any and all trees, undergrowth, structures, obstructions, or obstacles of whatever character, on, under and above said right of way, as applicable.  Further, with respect to overhead facilities, Grantor is also granted the right to trim and cut, and keep trimmed and cut, all dead, weak, leaning or dangerous trees or limbs outside of the aforementioned right of way that, in the opinion of Grantor, may now or hereafter endanger, interfere with, or fall upon any such overhead facilities.  In the event it becomes necessary or desirable for Grantor to move said facilities in connection with the construction or improvement of any public road or highway in proximity to the facilities, Grantor further reserves the right to relocate the facilities and, as to such relocated facilities, to exercise the rights granted above; provided, however, the Company shall not relocate said facilities on the Property at a distance greater than ten feet (10’) outside the boundary of the right of way of any such public road or highway as established or re-established from time to time.  

J.    By its acceptance of this conveyance, Grantee, for itself and its heirs, personal representatives, successors and assigns, hereby acknowledges and covenants, and any party acquiring any such right, title or interest, shall, by reason of acquiring the same, be deemed to have acknowledged and covenanted (i) that it accepts the Property "As Is" and "With All Faults", (ii) that it releases and waives any claim against Grantor, its employees, agents and contractors relating to the nature and condition of the Property, including, without limitation, the environmental condition thereof, and (iii) that it will protect, defend, hold harmless and indemnify Grantor, its employees, agents and contractors from and against any claim, demand, cause of action, liability, cost or expense (including reasonable attorneys' fees and legal expenses) to the extent arising out of the nature and condition of the Property.

K.    Alabama Power Company expressly proclaims and declares, that the Property is hereby conveyed, and shall be held, conveyed, hypothecated or encumbered, rented, used, occupied and improved subject to the following rights, easements, covenants and restrictions, which shall run with the land and shall be binding upon Grantee and upon all parties having or acquiring any right, title or interest in any part of the Property, and any such party acquiring any such right, title or interest shall, by reason of acquiring the same, be deemed to have agreed to such rights, easements, covenants and restrictions:

1. The Property shall be used for single-family residential purposes only.  No more than one single-family dwelling house may be erected on such property; provided, however, that on such property there may be constructed a garage and accessory storage building.

2. No outside toilets or privies shall be constructed or maintained on any lot in the Property.

3. No noxious or offensive activity shall be carried on upon any parcel, nor shall anything be done thereon which may be or may become an annoyance or nuisance to the neighborhood.

4. No parcel shall be used or maintained as a dumping ground for rubbish.  Trash, garbage, or other waste shall not be kept except in sanitary containers.  All incinerators or other equipment for the storage or disposal of such material shall be kept in a clean and sanitary condition.

5. No building, porch, or projection thereof shall be erected or placed nearer than fifteen (15) feet to any property line.  No septic tank field lines shall be extended outside of any property line without the specific written consent of the adjoining property owner.

6. No tents, trailers, mobile homes or temporary type structures of any kind may be erected or placed on any parcel whether temporarily or permanently.

7. All conveyances are made subject to the right of Grantor, its successors or assigns to locate and install drains where necessary and to cause or permit drainage of surface waters under, over, and/or through the aforesaid parcel.

8. No animal or fowl shall be kept or maintained on said Property, but nothing herein shall be construed to prevent or prohibit the owner from keeping as a domestic pet, cats, dogs or birds.

9. All driveways and driveway pipe shall be approved by the county engineer or a representative of said engineer.

10. No road ditches may be filled or stopped up at any time.  The right is reserved for the storm drainage water from roads, streets and lots to run over or across said parcel as it now runs as the natural flow.

11. The Property may not be split, divided or subdivided for sale, resale, gift, transfer or any other purpose whatsoever with the exception, if and where applicable, of a parcel footprint limited only to those certain easements set forth above in Paragraph H; provided that this provision shall not apply to subdivision of the Property where it is necessary or convenient to convey a portion to a public utility for the purpose of providing utility services.

    Every one of the rights, provisions and restrictions set forth in this instrument is hereby declared to be independent of, and severable from the rest of said rights, provisions and restrictions.  Invalidation by any court of any right, provision or restriction set forth in this deed shall in no way affect any other of said rights, provisions or restrictions which shall remain in full force and effect.

COMPLETE TERMS AND CONDITIONS:  (You are required to agree to the terms before you can register and bid)

REAL ESTATE AUCTION

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

By registering for this online auction, you, the purchaser are agreeing to these terms and conditions.  Bid retractions or bid withdrawals are not allowed.

Winning bidder must sign a non-contingent contract and pay earnest money within 48 hours of auctions ending.

 Sale contracts in the amount of $5,000 and less require payment in full by Cashier’s Check or Bank Wire Transfer to Pearce & Associates within 48 hours of auctions ending and when sale contract is executed.

Sale contracts exceeding $5,000 require earnest money in the amount of 20% of the gross sales price with the balance due within 30 days. Time is of the Essence.

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

A 10% buyer’s premium will be added to the winning bid to determine the final sales

price with a minimum buyer’s premium of $500 per parcel.  Examples:  

1.  $100 bid, plus $500 buyer’s premium equals $600 gross sales price.

2.  $10,000 bid, plus $1,000 (10%) buyer’s premium equals $11,000 gross sales price.

The Seller will provide a statutory warranty deed to the property, excluding any mineral and mining rights, to each purchaser within 30 days of the auctions ending.  There will be no formal closing or closing cost to the purchaser other than a flat $50 per parcel recording fee.  Pearce & Associates will record the deed for the Seller and the purchasers once the deed has been prepared.  No title insurance will be provided.  If the purchaser chooses to purchase title insurance or to have a formal closing, the cost will be at the purchaser’s expense.  

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; any additional easements,  reservations or rights of way included in the statutory warranty deed including, but not limited to transmission line rights-of-way or distribution line rights of way, together with any rights accompanying the same; any cemeteries that might exist on the property; outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions, agreements, and covenants of record; wet lands and flood plains; all rules and regulations of any appropriated authority having jurisdiction over the property; and any encroachments that would be revealed by a survey of the property.

BUYER’S NOTE: Prior to the auction all prospective purchasers should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the Seller nor the auctioneers.  The Seller and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept the property “As Is” – “Where Is”, With All Faults, and without representations or warranties of any kind, expressed or implied, including, but not limited to, representations or warranties as to fitness for any particular purpose, merchantability, design, quality, layout, footage, physical condition, operation, compliance with specifications, absence of latent defects or existence of encroachments, or compliance with laws and regulations (including, without limitation, those relating to health, safety and the environment) or any other matter affecting or related to the assets.  By bidding for a property, any buyer acknowledges that Seller has not made, does not make, and specifically disclaims all representation and warranties as to the presence or absence of any hazardous substances, water, soil or geology of the property and as to income to be derived from the property.  Seller recommends that Buyer closely review the maps and information provided in connection with this auction as such maps and materials may depict various types of property defects, including but not limited to encroachments of buildings or improvements over property lines and unauthorized driveways or access roads.  Further, personal on-site inspection of the property is highly 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 generally deemed reliable. Although every precaution has been taken to ensure accuracy, the Seller and all of their agents will not be responsible for any errors or omissions herein.  Without limiting the foregoing, Buyer acknowledges that Seller does not in any manner warrant or guarantee the accuracy, completeness, or reliability of any maps or data provided by Seller in connection with the online auction nor does Seller warrant or guarantee that the property described by the legal description in the deed matches the property shown in such maps.

Default by the Seller: If the Seller is 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.

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 on any parcel within the last 5 minutes of the auction, the bid on all parcels 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 lots sit idle for 5 minutes.  The entire auction will continue to extend as long as bidding takes place.

The Seller (Alabama Power Company) reserves the right to cancel the auction or remove any parcel from the auction at any time prior to the advertised auctions ending date/time.

Larry "Chip" Pearce, JR - Auctioneer/Broker/Appraiser - AL#1088

Alabama Auctioneering INC, DBA Pearce & Associates

205-664-4300