Thursday, July 27, 2023 at 2:00 pm — Auction Site: 62 Krannert Dr NW in Rome, GA
Rome, Floyd County, GA
Coosa Community
The Former Krannert School
5.75-acres just off of GA HWY 20
Owner Financing Available
Auctioneer’s Note: Dempsey Auction proudly presents the auction of the former Krannert School, located at 62 Krannert Dr NW in Rome, Coosa community, Floyd County, GA. Situated on an expansive 5.75-acre parcel, this property boasts a multitude of improvements and enjoys a prime location just off Ga. Hwy 20. Notably, it adjoins Coosa Park, a recreational area managed by Floyd County Parks and Recreation.
With endless potential and boundless opportunities, this property offers a remarkable purchasing prospect for various purposes. The versatile nature of the site makes it suitable for a wide range of uses, accommodating diverse needs and ventures. Whether you envision a commercial venture, educational institution, community center, or an innovative project, this property provides the perfect canvas to bring your vision to life.
The strategic location ensures convenient accessibility, fostering connectivity to major transportation routes and nearby amenities. Embrace the possibilities and seize this extraordinary opportunity to acquire the former Krannert School property. Join us for the auction and unlock the potential of this exceptional site. Contact us today for further details and secure your chance to make your mark in Floyd County, GA.
SALE MANAGER: Randy Land – 706.252.0532 – rl@dempseyauction.com
OPEN HOUSE: Dempsey Representatives will be onsite Wednesday, July 26 from 1-3 or by appointment.
BIDDING: The auction will be Simulcast with the opportunity to participate Live, in person, or Online, whichever is most convenient.
SALE SITE: The property will be SOLD onsite.
TERMS AND CONDITIONS: 10% Buyers Premium. 10% Down on Sale Day with the Balance Due on or Before 30 Days from Sale Day.
CLOSING: Closing to be on or before 30 days from Sale Date.
BROKER PARTICIPATION: Dempsey Auction Co will pay any licensed Broker/Agent a referral commission for any registered client who successfully closes on the property. CONTACT OUR OFFICE FOR PRECISE DETAILS
EXHIBIT “A”
TERMS AND CONDITIONS
THE GYMINISTRIES INC.
Rome, Floyd County, GA
Thursday, July 27, 2023 @ 2:00 PM
These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “A” which will prevail over this document and any other agreement between the Buyer and Seller.
CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a contract with THE GYMINISTRIES INC. (Seller), to offer at live public auction, a parcel (E13Z015) of real estate located at 62 Krannert Rd., Rome, GA.
All property, real and personal, is selling “AS IS, WHERE IS” and being conveyed by Seller as provided for below. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed, or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum, or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Auctioneer makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that he/she has inspected the Property and is not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof. Buyer acknowledges and agrees that at closing there may be the existence of equipment, personal property and/or scrap materials located upon or within the property and agrees to accept the same in AS IS condition.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the auction.
The Seller has the right, at their sole discretion; to add or withdraw the property before the auction on Thursday July 27, 2023 @ 2:00 PM. This property is Selling Subject to Owner Confirmation and all offers may be held open until Friday, July 28, 2023 @ 5:00 PM.
CONVEYANCE: All property will be conveyed by Limited Warranty Deed with title insurance available at the Buyer’s expense.
RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to any Leases, Restrictions, Public Utilities, Encroachments, Zoning Ordinances, Rome, Floyd County Regulations, Protective Covenants, Any Easements or Existing Rights of Way and all other matters now of record. All Personal Property is Reserved.
PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This payment may be made with either a personal or company check. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Co. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.
ONLINE PURCHASERS’ PAYMENT: At the close of the auction, successful Purchaser(s) will be emailed the contract package to execute and return to Dempsey Auction Co. Successful Purchaser(s) will deposit 10% of the Contract Sales Price as earnest money in the form of cashier’s check or bank wire transfer with Dempsey Auction Co within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Terms and Conditions”. Purchaser(s) shall be responsible for all wire transfer fees. Successful Purchaser(s) not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Dempsey Auction Company is providing online bidding as a service to Bidder. The bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Dempsey Auction Company or anyone else if the internet service fails to work correctly. Dempsey Auction Company will not be responsible for any missed bids from any source.
DEFAULT: In the event, a winning bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Co and the Sellers as provided in the Terms and Conditions and the Sales Contract.
SURVEY: No recent surveys were performed for this auction. Any additional survey work shall be at the purchaser’s expense and cannot delay the closing. The property is being conveyed by legal description contained within the actual deed of record in Office of the Clerk of Superior Court of Floyd County.
FINANCING: Owner Financing is available to qualified buyers. 10% down on sale day with an additional 20% down payment at closing, balance to be financed for a 3-year period at 10% interest with a 10 yr Amortization, with 35 equal monthly payments and the 36th payment being a balloon for the remaining balance. The loan to be secured by the financed property with a personal guarantee with NO Pre-Payment penalty.
CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, which shall be on or before August 25, 2023.The closing attorney is with Brumblow, Corwin and Delashmit P.C. We encourage you to contact Kellie at the closing attorney’s office @ 706.237.9944 as soon as possible to discuss the closing and set the date. The closing cost shall be the responsibility of the purchaser.
CLOSING COSTS: The Seller will provide a Limited Warranty Deed, at closing. If for some reason the Seller is unable to convey good and marketable title to the property, the Purchaser(s) Earnest money deposit will be returned.
All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense.
POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before August 25, 2023
TAXES: The 2023 Real Estate property taxes will be prorated to the date of closing. Any additional taxes assessed resulting from the change of use by the purchaser will be the responsibility of the purchaser.
AGENCY: The Auctioneer is acting as agent for the seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between the seller and the Auctioneer. The Auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the Auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms of conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information.
METHOD of SALE: DAC reserves the right to offer the property any way we see fit to obtain the seller the most money.
Dempsey Auction Company is the “Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller.
NOTE: This auction is being recorded by audio in its entirety for legal purposes.
I have received, read, understand, and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “A”.
TERMS AND CONDITIONS
THE GYMINISTRIES INC.
Rome, Floyd County, GA
Thursday, July 27, 2023 @ 2:00 PM
These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “A” which will prevail over this document and any other agreement between the Buyer and Seller.
CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a contract with THE GYMINISTRIES INC. (Seller), to offer at live public auction, a parcel (E13Z015) of real estate located at 62 Krannert Rd., Rome, GA.
All property, real and personal, is selling “AS IS, WHERE IS” and being conveyed by Seller as provided for below. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed, or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum, or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Auctioneer makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that he/she has inspected the Property and is not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof. Buyer acknowledges and agrees that at closing there may be the existence of equipment, personal property and/or scrap materials located upon or within the property and agrees to accept the same in AS IS condition.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the auction.
The Seller has the right, at their sole discretion; to add or withdraw the property before the auction on Thursday July 27, 2023 @ 2:00 PM. This property is Selling Subject to Owner Confirmation and all offers may be held open until Friday, July 28, 2023 @ 5:00 PM.
CONVEYANCE: All property will be conveyed by Limited Warranty Deed with title insurance available at the Buyer’s expense.
RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to any Leases, Restrictions, Public Utilities, Encroachments, Zoning Ordinances, Rome, Floyd County Regulations, Protective Covenants, Any Easements or Existing Rights of Way and all other matters now of record. All Personal Property is Reserved.
PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This payment may be made with either a personal or company check. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Co. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.
ONLINE PURCHASERS’ PAYMENT: At the close of the auction, successful Purchaser(s) will be emailed the contract package to execute and return to Dempsey Auction Co. Successful Purchaser(s) will deposit 10% of the Contract Sales Price as earnest money in the form of cashier’s check or bank wire transfer with Dempsey Auction Co within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Terms and Conditions”. Purchaser(s) shall be responsible for all wire transfer fees. Successful Purchaser(s) not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Dempsey Auction Company is providing online bidding as a service to Bidder. The bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Dempsey Auction Company or anyone else if the internet service fails to work correctly. Dempsey Auction Company will not be responsible for any missed bids from any source.
DEFAULT: In the event, a winning bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Co and the Sellers as provided in the Terms and Conditions and the Sales Contract.
SURVEY: No recent surveys were performed for this auction. Any additional survey work shall be at the purchaser’s expense and cannot delay the closing. The property is being conveyed by legal description contained within the actual deed of record in Office of the Clerk of Superior Court of Floyd County.
FINANCING: Owner Financing is available to qualified buyers. 10% down on sale day with an additional 20% down payment at closing, balance to be financed for a 3-year period at 10% interest with a 10 yr Amortization, with 35 equal monthly payments and the 36th payment being a balloon for the remaining balance. The loan to be secured by the financed property with a personal guarantee with NO Pre-Payment penalty.
CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, which shall be on or before August 25, 2023.The closing attorney is with Brumblow, Corwin and Delashmit P.C. We encourage you to contact Kellie at the closing attorney’s office @ 706.237.9944 as soon as possible to discuss the closing and set the date. The closing cost shall be the responsibility of the purchaser.
CLOSING COSTS: The Seller will provide a Limited Warranty Deed, at closing. If for some reason the Seller is unable to convey good and marketable title to the property, the Purchaser(s) Earnest money deposit will be returned.
All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense.
POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before August 25, 2023
TAXES: The 2023 Real Estate property taxes will be prorated to the date of closing. Any additional taxes assessed resulting from the change of use by the purchaser will be the responsibility of the purchaser.
AGENCY: The Auctioneer is acting as agent for the seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between the seller and the Auctioneer. The Auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the Auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms of conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information.
METHOD of SALE: DAC reserves the right to offer the property any way we see fit to obtain the seller the most money.
Dempsey Auction Company is the “Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller.
NOTE: This auction is being recorded by audio in its entirety for legal purposes.
I have received, read, understand, and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “A”.