PROCEDURE: Tracts 1-73 will
be offered in individual tracts, in any combination of these tracts, and
in its entirety. Any qualified registered bidder may bid on tracts, tract
combinations, and the total property.
DOWN PAYMENT: Successful bidders shall deliver on day
of sale to Schrader Real Estate & Auction Co., Inc. or Woltz
& Associates Inc. 10% of the final contract sales price as an escrow
deposit via cash, cashier’s check, or pre-approved personal check.
Personal checks should be accompanied by a bank letter stating “___________
is a customer of this bank and we guarantee payment of checks written
on account number __________ up to (specify amount) dollars for purchase
at the auction being conducted by Schrader/Woltz on June 28, 2003”.
YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED
FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING. If a
successful bidder fails to close within the time specified, Seller shall
have the right to terminate the Purchase Agreement and retain the down
payment as liquidated damages in addition to other legal remedies or at
Seller’s option, extend the closing past the designated closing
date. However, a charge of 1% of the total contract price will be charged
to the Buyer per month until closing.
ABSOLUTE AUCTION: All tracts are sold to the highest
bidder regardless of price. Don’t miss this opportunity to buy.
BUYER’S PREMIUM: A 5% Buyer’s Premium will
be added to the final bid price and included in the total purchase contract
DEED, ROAD MAINTENANCE AND DEED RESTRICTIONS: Seller
will provide Special Warranty Deeds conveying the property to successful
bidders subject to matters of record, general condition of title, and
similar or related matters. As necessary or appropriate, deeds will reserve
easements over parcels sold and will impose maintenance obligations on
roads. Road Maintenance Agreement and any Covenants and Restrictions will
be available prior to the auction at www.sclandauction.com or call for
a copy. Some tracts will have restrictions and may exclude mobile homes.
EVIDENCE OF TITLE: The Seller agrees to furnish bidders
a preliminary Owner’s title insurance commitment to review prior
to Auction. The cost of the insurance, if Purchaser elects to have the
title commitment executed, will be the responsibility of the Purchaser.
Seller agrees to provide merchantable title to the property subject to
matters of record, general conditions of title, and similar or related
matters. All tracts sold “AS IS”.
REAL ESTATE TAXES: At closing, all real estate taxes
shall be prorated.
CLOSING: Closing shall take place within 30, 60 or 90
days after the auction day, or as soon thereafter as Seller’s applicable
closing documents are completed. Announcements on the day of the auction
will state the projected closing date for each property.
POSSESSION: Possession of the property shall be given
MAPS: Maps are available on www.sclandauction.com.
SURVEY: Seller to furnish a new survey for any division
of parent tract into smaller tracts. When individual, contiguous tracts
are combined, seller to furnish a perimeter survey of those tracts only
(they will not be surveyed individually). All tracts sold in their entirety
by an existing survey plat of public record. Final sales price shall be
adjusted to reflect any difference between advertised and surveyed acres.
PROPERTY INSPECTION: Each potential bidder is responsible
for conducting at their own risk, their own independent inspections, investigations,
inquiries, and due diligence concerning the property. Inspection dates
have been scheduled and will be staffed with auction personnel; please
feel free to inspect any other time. Also, tracts are marked with surveyor’s
corner markers along roadways and there are auction tract signs for your
convenience. The infrared aerial photographs in this brochure which were
taken in 1999, are intended to illustrate tract boundaries and local geography.
Timber stand characteristics may have changed since photos were taken.
More recent aerials will be available on inspection dates and auction
day. Please inspect each tract before bidding
BROKER PARTICIPATION: Any broker actively licensed in
the State of South Carolina who properly registers the successful high
bidder will be paid a 2% commission at settlement by the Seller. Registration
must be on a Schrader Real Estate & Auction Co., Inc. Buyer Broker
Form and contains the name, address, and signature of agent and prospect,
as well as broker’s license number and Federal Tax ID number. The
form must be received in the offices of Schrader Real Estate & Auction
Co., Inc. no later than June 23. Guidelines and forms are available at
AGENCY: Schrader Real Estate & Auction Co., Inc.
and Woltz & Associates, Inc. and their representatives are Exclusive
Agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information
contained in this brochure and all related materials are subject to the
Terms and Conditions outlined in the Agreement to Purchase. ANNOUNCEMENTS
MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE
WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER
ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE
IS“ basis, and no warranty or representation, either expressed or
implied, concerning the property is made by the Seller or the Auction
Company. Each potential bidder is responsible for conducting his or her
own independent inspections, investigations, inquiries, and due diligence
concerning the property. The information contained in this brochure is
subject to verification by all parties relying on it. No liability for
its accuracy, errors, or omissions is assumed by the Seller or the Auction
Company. All sketches, acreages and dimensions in this brochure and other
information provided by the Auction Company are approximate. The Seller
and Auction Company reserve the right to preclude any person from bidding
if there is any question as to the person’s credentials, financial
ability, etc. All decisions of the Auctioneers are final.
NEW DATA, CORRECTIONS, AND CHANGES: Please arrive prior
to scheduled auction time to inspect any changes, corrections, or additions
to the property information.
STOCK PHOTOGRAPHY: Some photography in this brochure
reflecting wildlife are used for illustrative purposes.
OWNER: MeadWestvaco Forestry LLC.
For Continual updates on this auction, please visit: www.sclandauction.com