Summer Multi-Parcel Auction

General Terms - Please see specific terms for their respective lots.

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. For compliance with Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992, interested purchasers have had ten a (10) day inspection period prior to the auction for assessment of possible lead-based paint hazards. All personal property and equipment are reserved.

We require all bidders 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.

[Lots 1-2] The Seller has the right, at their sole discretion; to add or withdraw all or any portion of the property before the auction on Thursday, August 29th @ 1:00pm. These properties are Selling Subject to Owner Confirmation and all offers may be held open until Monday, August 2nd @ 5:00pm.

[Lots 3-14]The Sellers have the right, at their sole discretion; to add or withdraw all or any portion of the property prior to the auction on Thursday, July 29th at 1:00pm. All properties are Selling Subject to Owner Confirmation and all offers may be held open until Monday, August 2nd @ 5:00pm. Property located at 558 Walton Creek Drive is Selling Absolute, Regardless of Price.

[Lot 20]The Seller has the right, at their sole discretion; to add or withdraw all or any portion of the property before the auction on Thursday, July 29th @ 5:00 PM. The property is selling at ABSOLUTE AUCTION, Regardless of Price.

CONVEYANCE: [Lots 1-2 & 20]All property will be conveyed by Limited Warranty Deed with title insurance available at the purchaser’s expense.
[Lots 3-14] Properties being identified as 119 Rudy Street (K13X 215), 5.64 +/- Ac Tract on Old Calhoun Hwy (K12Z 097) and 558 Walton Creek Drive (H13P 389) will be conveyed by Limited Warranty Deed with title insurance available. The remaining tracts: 415 Stonewall Street (J13I 080), 5 Lester Lane ( K13Y 532), 8 Stevens Street (J13I 038), 25 Stevens Street (J13I 203), 98 Woodruff Street (J16W 067), Bldg. lot on Wilkerson Road (H13P 033), 2+/- Ac Bldg. lot on Moran Lake Road (L13Y 172), Bldg. lot on Carden Road in Shannon (M10Y 077) and Vacant lot at 315 Grady Avenue (J13O 022) will be conveyed by Quit Claim Deed with an uninsurable title.

RESERVATIONS & RESTRICTIONS: [Lots 1-14]The real estate will be sold subject to any and all restrictions, public utilities, encroachments, zoning ordinances, easements, Rome, Floyd County regulations, protective covenants, any existing rights of way and all other matters now of record or shown on attached plat.
[Lot 20] The real estate will be sold subject to all Restrictions, Public Utilities, Encroachments, Zoning Ordinances, any existing Easements and/or Right of Ways, Cherokee County Regulations, Protective Covenants and all other matters of record.

ONLINE PURCHASERS’ PAYMENT: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Dempsey Auction Co. Successful bidders will deposit 10% of the Contract 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 shall be responsible for all wire transfer fees. Successful high bidders 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.

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 Condition and the Sales Contract.

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.

SURVEY: [Lots 1-14] No surveys we performed for this auction. Every property is being conveyed by legal description contained within the actual deed or record in Office of the Clerk of Superior Court of Floyd County.
[Lot 20] We are selling this property according to a registered and approved boundary survey. Each tract has been surveyed for this auction by Mark Baker with Baker Land Surveying, LLC, an Alabama Registered Land Surveyor, License #20628. A survey fee of $1,000 will be charged and collected today for the actual amount of the survey. The accuracy of the survey is the sole liability of the surveyor and the Purchaser, and the Purchaser does hereby release the Seller and Dempsey Auction Co from all liability in all matters concerning the survey.

CLOSING: Closing shall take place within 30 days of the auction, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing.

[Lots 1-2] The closing attorney is Mr. Scott Lloyd, 111 West Main Street, Centre, AL 35960, 256.927.5577. We encourage you to contact Mr. Lloyd’s office as soon as possible to discuss the closing.
[Lots 3-14] The closing attorney is Mr. Ted Corwin with Brumlow, Corwin and Delashmit. We encourage you to contact Kellie in Mr. Corwin’s office as soon as possible to discuss the closing – 706.237.9944.
[Lot 20] The closing attorney is Mr. Scott Lloyd, 111 West Main Street, Centre, AL 35960, 256.927.5577. We encourage you to contact Mr. Lloyd’s office as soon as possible to discuss the closing.

CLOSING COSTS: The Seller will provide a Limited Warranty Deed, unless otherwise disclosed, at closing. If for some reason the Seller is unable to convey good and marketable title to the property, unless otherwise noted, 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: POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before AUGUST 30, 2021, ALL properties with tenants are selling Subject to the Rights of the Tenants at Will and any and all Existing Leases, where applicable. Seller to retain August rent and Buyer to retain September rent. Damage Deposits, if any, will be transferred to buyer at closing.

TAXES: The Real Estate property taxes will be prorated to the date of closing. If any additional taxes are assessed resulting from the change of use by the purchaser, they will be the responsibility of the purchaser.

AGENCY: [Lots 1-14]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 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.
[Lot 20] In accordance with the Alabama Disclosure Law/RECAD, Dempsey Auction Company 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 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 and all announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information.

METHOD of SALE: Offering the property in three groups, high bidders’ choice of tract(s)

Group 1 : 523 Burnett Ferry Road – 525 & 527 Burnett Ferry Road ( These properties will be offered individually and as a whole )

Group 2 : 119 Rudy Street – 415 Stonewall Street – 5 Lester Lane – 8 Stevens Street – 25 Stevens Street – 98 Woodruff Street

Group 3 : 558 Walton Creek Dr – Wilkerson Road Bldg. Lot – Moran Lake Road Bldg. Lot – Old Calhoun Hwy (53) Bldg. Lot – 315 Grady Avenue Lot – Carden Road Bldg. Lot ( Shannon )

DAC reserves the right to offer the property any way we see fit to obtain the seller the most money.

[Lots 1-14] In accordance with BRRETA Act Section 19-6A-5, Dempsey Auction Company is the “Listing Agent and Selling Agent of the Seller” and our fiduciary duties of loyalty and faithfulness are owed to the Sellers.
[Lots 20] In accordance with the Alabama Disclosure/RECAD Law, Dempsey Auction Company is the “Listing Agent and Selling Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller, Sylvia Remainderman Pledger.

NOTE: This auction is being recorded by audio in its entirety for legal purposes.