Auction: 
185 +/- Acres Cropland and Timber - Oriental NC (04/18/2018 - 04/25/2018)
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04/25/2018 02:05 PM
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Bid on 2 by onsitebidder3
04/25/2018 02:12:51 PM
Bid on 2 by onsitebidder3
04/25/2018 02:10:35 PM
Bid on 2 by onsitebidder3
04/25/2018 02:09:56 PM
Parcel Combo
High Bidder High Bid Winning
1 jchurch $47,000
2 onsitebidder3 $204,000
Total Bids
36
View Bid Increments Auction Total
$251,000
 
Time Left:
Last Bid:
Your Selected Parcels: (none)
Starting Time: April 18, 2018, 08:00 AM
Closing Time: April 25, 2018, 02:23 PM
Time Left:
Buyer's Premium: 10%
  Parcel
Numbers
High Bidder Current Bid Winning
1,2 onsitebidder3 $142,000

ONLINE W/  BIDCENTER
April 18th at 8am - April 25th at 2pm

BID CENTER ADDRESS
The Old Theater
609 Broad Street
Oreintal, NC


INSPECTIONS
Dates Coming Soon!

PROJECT MANAGER 
Chris Crawford
919.935.1974


 



Selling By Order of the Executor of the Estate of David Stewart Precythe

PROPERTY DESCRIPTION

185 +/- Acres Crop and Timber Land off Kershaw Road in Oriental, NC
Pamlico County

Approx. 80+/- Acres in Row Crop, 56+/- Acres in Timber and  48+/- Acres of Pine plantation.
Parcel 647885728500 and 648802067500

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If this auction lot are sold seperately from each other, a survey will be required. The surveyor will be chosen by the auctioneers and the survey will be the expense of the purchaser.

Importance of Terms:

Please take the time to read the following set of terms and conditions for the online auction. When you register to bid, you will have to acknowledge that you have read these terms and conditions. If you intend to register, the following items will pertain to you.

 

Agency:

Iron Horse Auction Company, Inc. is acting as agent of the Seller and at no time acting on behalf of the Buyer.

 

Buyer's Premium:

There will be a Ten Percent (10%) Buyer’s Premium added to the final bid price to determine the final contract purchase price. In order to verify that the credit card used for registration is valid, the bidding platform requires a $100.00 authorization hold be placed on credit cards in order to register to bid. This charge will be removed within a 24-hour time period after registration.

 

Auction Ending:

Online auctions are timed events and all bidding will begin to close at a specified time. Online auctions also have an auto-extend feature. Any bid placed in the final ten minutes of an auction, will automatically extend the auction ten minutes from the time the bid was placed. Example: If an auction is scheduled to close at 6:00 and receives a bid at 5:51, the close time will automatically extend to 6:01. The auto-extend feature will continue until there is a ten-minute period without a bid being placed on any item in the auction.

 

Time Reduction:

In the event that the auto-extend time needs to be decreased, Iron Horse Auction Company, Inc. may decrease the extended time amount at any time during the auction until the close of bidding. A Pop-Up Message in the Instant Message Center on the bidding page will notify Bidders prior to the time reduction unless the time is reduced at the sale at the auctioneers discretion.

 

Outbid / Back-In Notification:

During this auction process, there is a chance that you will be overbid by a combination bid of multiple lots. At that time, you will receive an outbid notification. If another Bidder breaks the combination by raising the bid on a lot other than the lot you were bidding on, you will automatically be placed back in the winning position for your lot. You will then receive a back-in notification. Until the auction begins to close, the bidding software will notify Bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information. Due to varying internet connections and speed, sometimes email notifications can be delayed. We are not responsible for failure of any part of the bidding process or internet bidding.

 

Property Information & Inspection:

Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions; however, it is the Bidder's responsibility to conduct inspections to determine the condition and feasibility of the Bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are matters of opinion. It is automatically acknowledged by registering that you have personally inspected the property, hired an agent to inspect the property, or waived your right to inspect the property. Placing a bid creates a contractual agreement to purchase the property at the high bid price plus a Buyer’s Premium and any additional fees included in closing the real property transaction.

 

Auctioneer's Discretion:

Iron Horse Auction Company, Inc. has full discretion to modify the date and time, order, and details of the auction for any reason or no reason at all, including but not limited to technical issues, emergencies, and the convenience of Iron Horse Auction Company, Inc. or the Seller.

 

Server & Software Technical Issues:

In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Iron Horse Auction Company, Inc. and the Seller reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Iron Horse Auction Company, Inc., or the Seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Iron Horse Auction Company, Inc. may send email notifications to registered Bidders with updated information as deemed necessary.

 

Payment Terms:

Twenty Percent (20%) of the final contract purchase price is required as non-refundable earnest money in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 48-hours of the close of auction, with the balance of the contract purchase price due at closing, which shall be in thirty-days or upon delivery of the deed, whichever is sooner. In the event the Seller cannot produce a deed with insurable title, the earnest money deposit will be refunded. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Auction Purchase Contract. This online only auction is a cash transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by the Bidders and/or Buyers at registration and specified in the Auction Purchase Contact on the event page of each specific auction.

 

Auction Purchase Contract:

The contract is required to be fully and correctly executed, without any modifications and properly signed within 48-hours of the close of the auction unless the bidder is at the bid center where the contract will be signed by the purchaser immediately and the deposit will be collected at the same time.

 

Closing:

Property is to be closed within thirty-days after the auction or upon delivery of the deed, whichever is sooner.

 

Closing Costs:

Buyer’s closing costs can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Buyer’s prorated items and any other fees required for closing. Seller’s closing costs are limited to their portion of the prorated tax, revenue stamps and the cost of deed preparation.

 

Property Condition:

All property in this auction is selling “AS-IS, WHERE IS” with all faults, if any. Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspection prior to the auction. All due diligence periods end the date the auction is schedule to end, and prior to the end of the auction. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to placing a bid or doing due diligence. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.

 

Legal Interpretations:

The laws of the State of North Carolina shall interpret this document.

 

Date Time Bid Parcels Bidder
04/25/2018 02:12:51 PM $204,000 2 onsitebidder3
04/25/2018 02:10:35 PM $172,000 2 onsitebidder3
04/25/2018 02:09:56 PM $156,000 2 onsitebidder3
04/25/2018 02:08:41 PM $140,000 2 onsitebidder3
04/25/2018 02:07:51 PM $104,000 2 onsitebidder3
04/25/2018 02:06:38 PM $100,000 2 onsitebidder2
04/25/2018 02:04:50 PM $47,000 1 jchurch
04/25/2018 02:04:28 PM $142,000 1,2 onsitebidder3
04/25/2018 02:03:32 PM $138,000 1,2 jchurch
04/25/2018 02:01:59 PM $134,000 1,2 onsitebidder3
04/25/2018 02:00:56 PM $130,000 1,2 jchurch
04/25/2018 02:00:24 PM $126,000 1,2 onsitebidder3
04/25/2018 01:59:19 PM $122,000 1,2 jchurch
04/25/2018 01:57:52 PM $118,000 1,2 bpwillia
04/25/2018 01:57:40 PM $96,000 2 jchurch
04/25/2018 01:57:06 PM $94,000 2 onsitebidder2
04/25/2018 01:56:13 PM $112,000 1,2 jchurch
04/25/2018 01:55:31 PM $108,000 1,2 onsitebidder4
04/25/2018 01:54:16 PM $84,000 2 jchurch
04/25/2018 01:53:22 PM $82,000 2 onsitebidder3
  Description
1
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Bid History

56.78+/- Acres on Kershaw Road in Oriental, NC

Portion of Parcel 648802067500
Extensive Road frontage on Kershaw Road, this tract is level with maturing growth of mostly pine. Approximately 20 year growth of timber on this tract. There is a cut in the timber from Kershaw Road running approximately halfway into the tract.

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2
View Images
Bid History

128.27+/- Acres off Kershaw Road in Oriental, NC

Parcel 647885728500 and Portion of Parcel 648802067500
Accessed by a well maintained roadbed off Kershaw Road, this tract is level with 80+/- acres of row crop land, drains installed throughout. All acreage is easily accessible by a wide, well lept access road that runs halfway up the tract then cuts straight across. In the back of this tract is 48+/- acres of young pine plantation. 

This farm is subject to an oral lease with the current farmer. This lease is for 80 Acres at $125.00 per acre for 2018. Payment for this lease is received twice per year, with the buyer receiving the next payment in 2018. Buyer must allow farmer to remove current crop. This lease does not have to be continued after 2018.
 
There is no written lease through 2022.


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