TERMS:

• This will be a live, public auction.

• There are no minimum starting bids.

• The Seller reserves the right to accept or reject any and all bids.

• A 10 % buyer’s premium will be added to the high bid to determine the total purchase price.

• The high bidder is required to sign the Auction Purchase & Sale Contract and make the required down payment.

• The high bid offer will be open for acceptance or rejection by the seller until Monday, December 15th at 6pm.

Down Payments:

-10% down payment (based on total purchase price) for Lots and Land

• Example: High Bid is $20,000 for a lot
  Buyer’s Premium: $2,000
  Total Purchase Price: $22,000
  Down Payment: $2,200
  Balance due in 30 days: $19,800

-$2,000 down payment for Houses

• Example: High Bid is $100,000
  Buyer’s Premium: $10,000
  Total Purchase Price: $110,000
  Down Payment: $2,000
  Balance due in 30 days: $108,000

The down payment may be made by personal check or cash.

• If the high bid is accepted by the seller, Purchaser must close in 30 days by the attorney designated by the Seller.

• If the high bid is rejected by the seller, the down payment will be refunded.

• The Purchaser pays all closing costs.

• All properties sell “AS IS-WHERE IS.”

• There is no financing contingency.

The seller will provide financing for qualified purchasers as follows:

• Minimum Loan Amount: $100,000

• 35% Down Payment

• 12 Month Term - Interest Only

• Payments Due Monthly

• Interest rate: 8% fixed

• Loan Fee: .5% due at closing

Seller Financing Approval will be at the complete discretion of the Seller.
Contact: Mike Mauntel at 678-339-1676 or michaelmauntel@banknorthgeorgia.com
 
Please see Terms & Conditions and the Auction Purchase & Sale Contract and Addendum