U.S Bankruptcy Auction - John Gray Sale - Real Estate

by Pearce & Associates


Wednesday, July 30 @ 1:00pm


U.S. Bankruptcy Auction - Real Estate 331 Mulberry Street Jasper, AL


Online Only


By order of the U.S. Bankruptcy Courts.

Case - Gray -12-72629-BGC-7


A fine property with multiple uses!

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By order of the U.S. Bankruptcy Courts

Case - Gray - 12-72629-BGC-7

Online bidding ends Wednesday, July 30 @ 1:00pm (central standard time).  Auction features a 5 minute bid extension.  If a bid is placed in the last 5 minutes of the timed auction, the auction will extend the time remaining another 5 minutes and will continue to extend as long as bidding takes place.

REAL ESTATE - Home * Barns * Sheds * Workshops * Offices *  10 Acres, more or less located at 331 Mulberry Street, Jasper, Alabama 35503

Property ID# 10-05-15-0-000-071.000#0    (7.3 Acres)                                               Walker County Tax Value - $394,600

Property ID# 10-05-15-0-000-071.001#0    (2.1 Acres)                                              Walker County Tax Value - $239,400

Property ID# 10-05-15-0-000-071.002#X    (1.4 Acres)                                             Walker County Tax Value - $3900

Home, parcels, buildings, sheds all sell for one bid!

This is an online only auction.  Pearce & Associates staff will be onsite the day the sale ends from 9:30am until 3pm.  The sale ends at 1:00pm.  We will be providing an onsite "bid center" for those who need assistance with registration and placing their online bids.    Personal property including Trucks, Equipment, Shop Items are being sold in a separate online auction.  Those items are available for inspection the same day with bidding ending at 7:00pm.



U.S. Bankruptcy Courts

Case - Gray - 12-72629-BGC - 7

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

Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.

Property sells subject to approval by the U.S Bankruptcy Courts.

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

The terms are 10% down payment with the balance due within 30 days.

Purchaser to receive possession of the property upon delivery of deed at closing.

Purchaser to pay closing cost and title insurance. Seller guarantees

title to be free and clear.

Closing attorney: McCleod & Associates, Birmingham, Alabama.

Ad Valorem taxes will be prorated at closing.

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; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.

BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “As

Is” without warranties expressed or implied. Personal on-site inspection of the property is 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 deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.

Default by the Seller: If the Sellers are 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.

Bidding: Bidding info- When you bid your max the current bid price doesn't automatically go to your max bid. Someone else has to bid to increase the current price and the

computer will automatically bid up to your max in the increments specified.

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 within the last 5 minutes of the auction, the bid on lot(s) will extend for an additional 5 minutes.

Conducted By

Pearce & Associates

205-664-4300, 888-783-4056, 251-600-9595

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