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 price.
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 at closing.
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 shall be
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 www.sclandauction.com.
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