Auction Details - Carolina Auction & Realty

Auction Details

Trustee’s Sale of 15 Condominium Units

220 Charter Hills Road, Beech Mountain NC 28604
Contact Information
Tom Jordan
Email: bid007@nc.rr.com
Phone: 919.832.8005
Auction Schedule
Auction Dates

Start Date: Fri, Mar 22, 2019 12:00AM

End Date: Wed, Mar 27, 2019 1:00PM

Auction Description


A unique opportunity to purchase at auction a 3 bedroom / 2 bath condominium unit; in a private exclusive 15 Unit condominium Resort known as Cedar Village Condominium, in Beech Mountain, North Carolina. All units are two stories. Amenities within Cedar Village include an indoor heated pool, Whirlpool spa and recreation room; and the amazing mountain views.

  • Beech Mountain is a town in the North Carolina Blue Ridge Mountains
  • Its elevation reaches 5,506 feet
  • Beech Mountain offers skiing, snowboarding, and tubing in the winter months
  • In the summer, recreation includes hiking, mountain biking & golf
  • It’s known for the Beech Mountain Resort, with ski trails, a summit deck with panoramic views and a terrain park

Auction Lot Offerings: Auction Lots 1-15 are being offered individually, each with a $40,000 opening bid. Auction Lot 16 includes the Cedar Village Condominium resort as an entirety including Auction Lots 1-15 and all common area, with a $600,000 opening bid.

Dale Howard, Trustee for the remainder interest owners of Cedar Village Condominium.  Clement Law Office | 756 West King Street | P.O. Drawer 32 | Boone, NC 28607

Tom Jordan, President of Carolina Auction & Realty is the licensed auctioneer and realtor for this auction. (NC Auctioneer # 7126)
 

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Terms & Conditions
10% BUYER'S PREMIUM ADDED TO THE HAMMER PRICE  

Auction Notes: The property will be delivered VACANT.


Diligence Package: The purchase and sale agreement along with assorted addenda are available in the documents section. In order to gain access, you must create a free account as well as accept a non disclosure agreement.

Online Bidding Notes: The initial deposit must be made via credit card, wire transfer or by Cashier's Check. Please review the online bidding terms and deposit transmittal form in the Documents Section for more details

Deposit Required For Individual Units: A $2,500 credit card hold, cashier’s check or wire transfer per unit is due prior to the auction. The buyer is required to have an earnest money deposit in the amount of 10% of the purchase price or $7,500 per unit, whichever is greater within 1 business day after the auction in the broker’s office. The deposit is required to be in the form of a cashier’s check or wire transfer. If a credit card hold was used it will be released by the auctioneer upon the receipt of the 10% deposit.  

Deposit Required For Entirety: A $20,000 credit card hold, cashier’s check or wire transfer per unit is due prior to the auction. The buyer is required to have an earnest money deposit in the amount of 10% of the purchase price within 1 business day after the auction in the broker’s office. The deposit is required to be in the form of a cashier’s check or wire transfer. If a credit card hold was used it will be released by the auctioneer upon the receipt of the 10% deposit.  

Summary of Terms of Sale: If payment of the additional deposit or the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Settlement is 45 days from the sale date. Seller shall convey fee simple marketable and insurable title to the Property. There are no financing contingencies or inspection rights for buyer. Seller is not obligated to make any repairs, changes, improvements or other modifications to the property. Prior to submitting the high bid for the property, buyer determined that the property meets all legal requirements for buyer’s intended use of the property and is not subject to governmental or private restrictions that will interfere with such intended use, including, but not limited to, environmental regulations, wetland qualification, flood hazard or flood plain designation and septic system suitability. If the Property is subject to any pending or confirmed governmental or owners' association special assessments, then they shall be the sole obligation of Buyer to pay. Seller shall pay any real estate transfer or excise tax and the cost of deed preparation. Taxes shall be prorated on a calendar year basis as of the date of Closing. Buyer shall be responsible for all other expenses in connection with Buyer's purchase of the Property, including, but not limited to, the expense of any survey ordered by Buyer for the benefit of Buyer, compensation of the Closing Agent, recording fees and preparation fees for any other documents. TIME BEING OF THE ESSENCE WITH REGARD TO SAID DATE. Earnest money deposits) shall be applied as part payment of the purchase price of the Property at Closing or disbursed as otherwise provided under the provisions of the broker’s contract. Buyer shall pay the balance of the purchase price in full in legal tender to Seller at Closing. Broker will hold the earnest money in an escrow or trust account. The auction purchase contract shall be construed under the laws of the State of North Carolina. 

Tom Jordan, Auctioneer/Broker, is acting as agent for the Owner in this transaction. Tom Jordan is not acting as agent for the successful bidder. Any buyer-broker is acting as an agent for the successful bidder and is not a sub-agent of Tom Jordan. If you are contemplating financing for this purchase, application must be made with a lender and title company no later than seven (7) days from the date of this sale.

“North Carolina Auctioneer, Real Estate Broker & Certified Appraiser”