Large Home in Telfair Subdivision

BANKRUPTCY CASE #21-20606-JRS - ONLINE AUCTION - 5150 Wilshire Xing, Cumming, GA 30040 
  •   Aug 21 @ 6:00am EDT (Start)
  •   Aug 30 @ 11:00am EDT (End)
  •   Add to Calendar
BANKRUPTCY CASE #21-20606-JRS
BANKRUPTCY CASE #21-20606-JRS
ONLINE AUCTION


5150 Wilshire Xing, Cumming, GA 30040
Telfair Subdivision

 
BID DEADLINE (Starts to Close): Tues, August 30th @ 11 AM
 
ASSET DESCRIPTION: 6 bedroom (2 master suites, 4 en-suite) / 6 1/2 bath, 3 Stories, 6,304+/- Sq. Ft., 4 car garage, kitchen w/granite, stainless steel appliances, oversized island, walk-in pantry, 2 laundry rooms, formal/informal dining and living with detailed molding throughout. The third floor provides a media room, kitchenette full bath and 2nd master suite. Outdoor living w/patio, professional lightscaping & oversized deck on a 0.56+/- lot.  

Recent updates include new hardwoods on the main, carpet on second floor, title and cabinets in master on second floor, paint in downstairs hall, kitchen, master bedroom and bath.

Annual HOA fees for this swim and tennis community are $850.00, billed quarterly ($212.50).

ONLINE BIDDING REGISTRATION: Online bidding to begin on August 21st, 2022.

INSPECTION: Sunday, August 21st and 28th from 1 PM - 3 PM.  Inspection time is limited.  Please make every effort to attend these posted times. 

You are STRONGLY advised to inspect the property and reply on your own findings. Please contact Scott Schwartz at 404-550-3490 or scott@bullseyeauctions.com or Rick Sammons at 770-490-0798 or rick@bullseyeauctions.com

TERMS: Non-refundable earnest money deposit of $20,000.00 required within 24 hours of contract acceptance. Closing to occur within 30 days of contract acceptance.

LEGAL CONTRACT: Your participation in our auction is your acknowledgement and acceptance of the terms and conditions presented here. Your failure to adhere to any of these terms and conditions may constitute a breach of contract and may cause irreparable harm to Bullseye Auction & Appraisal and/or our client. In this event, we and/or our client(s) may attempt to recover any financial or other damages by pursuing any action afforded by law.

BUYER’S PREMIUM: There is NO buyer's premium for this auction.

BUYER’S NOTE: Real estate is being sold “AS IS, WHERE IS” with no warranties expressed or implied. Buyers should carefully inspect. The real estate is subject to sale prior to auction end date. Online bid increments are at Auctioneer’s discretion.

CLOSING: Purchaser responsible for designating closing attorney and all associated costs. Property to close within 30 days of contract acceptance. Please click "Documents" for auction terms and conditions.

SALE MANAGERS:
Scott Schwartz at 404-550-3490, GAL# 2643
Rick Sammons at 770-490-0798, GAL# 3575


Auction Conducted By:
Bullseye Auction & Appraisal, LLC
500 Pike Park Drive, Suite F, Lawrenceville, GA 30046
770-544-7479

AUCTION TERMS AND CONDITIONS

 

AUCTION LOCATION & TIME:  Online bidding to start on August 21st at 6 AM.  The auction will start to close on Thursday, September 1st at 11 AM.

 

INSPECTION:  Bidders are encouraged to make their own inspections prior to bidding.  Please contact Auctioneer for instructions on how to inspect property.

 

AUCTION REGISTRATION: Please visit individual auction posting to register for this auction.

 

BROKER PARTICIPATION: A 2% 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 mail, email, fax or hand delivery using the Broker Registration Form posted to the website for the property listing within 48 hours of the scheduled auction.  Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.

 

AGENCY:  Bullseye Auction & Appraisal, LLC is acting exclusively as agent for the Seller.

 

TERMS: A $20,000 non-refundable earnest money deposit must be wired to Albert F. Nasuti, Chapter 7 Trustee.  Immediately following the auction, winning bidder will sign an “as-is” Auction Real Estate Sales Contract. A copy of the Auction Real Estate Sales Contract may be reviewed prior to the auction. Please contact Auctioneer for a copy.  Wiring instructions will be sent to high bidder at the conclusion of the auction.

 

CLOSING: Unless otherwise noted, balance of the purchase price is due within 30 days of Auction Real Estate Sales Contract acceptance.

 

CLOSING ATTORNEY:  Purchaser is responsible for designating the closing attorney.  Purchaser is responsible for all closing expenses, except what Seller is required to pay by Georgia law.

 

BUYER’S PREMIUM: There is NOT a Buyer’s Premium for this auction.

 

AUCTIONEER’S AUTHORITY: Bid increments are at the discretion of the Auctioneer. Auctioneer shall make the final decision as to the final high bid amount and winning bidder.

 

FINANCING: Financing is NOT a contingency to the Auction Real Estate Sales Contract. Bidders are encouraged to make have all necessary financing in place prior to registering for the auction.

 

INSURABLE TITLE: Unless otherwise noted and announced at the auction, Auction Real Estate Sales Contract is contingent upon Sellers ability to convey insurable title.

 

SPECIAL NOTE: Property is selling “as-is, where is” with all faults and is selling subject to easements, leases, restrictions, zoning, covenants, conditions and all other matters revealed by a survey or by inspection of the property or contained in public records. Real property to be conveyed by limited or 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, tax stamps, loan closing costs, and closing attorney fees are at the expense of the Buyer. Unless noted otherwise, Buyers pay all closing fees charged by closing attorney.

 

Although every precaution has been taken to ensure the accuracy of all printed and announced information, neither the seller, Bullseye Auction and Appraisal, LLC, nor their agents will be responsible for any errors or omissions herein. Bidders are encouraged to carefully inspect the property and information before registering for the auction and placing a bid. Auctioneer reserves the right to add or delete any property prior to the scheduled auction date. Announcements made on the day of the auction take precedence over all advertising.

 

SALE MANAGER:  Please view individual website posting for Auction Sale Manager’s contact information.