Bidding Opens: February 19, 2025
Bidding Closes: February 28, 2025 at 1:00 PM
This 0.51-acre lot at 7062 East Fork Road, High Point, NC, offers a prime redevelopment opportunity. Located near Jamestown Park, High Point Lake, Charles Turner Sports Complex, and the Piedmont Environmental Center, the property is surrounded by major highways, including Interstates 40, 74, 85, and Highway 70, providing convenient access throughout the Piedmont Triad region.
Don’t miss this unique opportunity to acquire a property with redevelopment potential in a highly accessible location.
Please read the full terms & conditions under the Terms tab prior to bidding.
The US Bankruptcy Court orders an auction by Daniel C. Bruton, Bankruptcy Trustee, Case # 24-10051
READ ALL TERMS & CONDITIONS BEFORE REGISTERING TO BID
When you bid on any item, you are entering into a binding contract. You will be signing a purchase contract, agency form and a 10% deposit of the contract price will be required in certified funds within 3 days of the sale end date.
Online bids are non-reversible. All assets are sold AS-IS.
AS IS - Everything sells "AS IS" with all faults; no warranties given or implied. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, quality, condition, age, color, or usefulness of lots sold in the auction. Everything sells with all faults, conditions, damage, defects, and flaws. The buyer will take the assets, personal property, items, lots or merchandise in the condition existing. No refunds/returns regardless of condition.
EASEMENTS and RIGHT OF WAYS: The real estate is being sold subject to any and all easements or right of ways. Lease payments or rents, if any, will be pro-rated at closing.
ALLOTMENTS and MINERAL RIGHTS: Crop allotments, mineral rights, timber rights, water rights, if any, will transfer with the deed or title.
HOA, POA, and RESTRICTIVE COVENANTS: The real property is being sold subject to restrictive covenants and homeowner's association rules, regulations and dues and county zoning, if any.
METHOD OF SALE: The property will sell as a whole and subject to confirmation by the US Bankruptcy Court. The confirmation hearing is scheduled for March 18, 2025 at 9:30am at the US Bankruptcy Court in Greensboro, NC. The auction company has the sole discretion to determine the highest and winning bidders.
SURVEY: The property will be sold subject to an existing survey, if any or the existing legal description.
PERK TEST: Perk test are the responsibility of the buyer and the contract is not contingent upon the soil having a satisfactory perk.
ENVIRONMENTAL: There are not any environmental studies, phase 1, phase 2, or phase 3 studies for review. There are not any soil or water studies for review. Barn has underground tank, Home has underground tank, above ground tank and propane tank.
PERSONAL PROPERTY: There is no personal property or merchandise being transferred with the real property of value.
FINANCING: The sale is not subject to financing. Failure to close for ANY REASON WHAT SO EVER will result in the forfeiture of the deposit. NO EXCEPTIONS.
HIGH BIDDER - The auctioneer has the sole discretion to determine the highest bidder for any and all lots. At the fall of the hammer, or other customary digital method of declaring lots sold, the ownership transfers to the buyer.
PURCHASE CONTRACT: Buyer will be required to execute a Real Property Auction Purchase and Sale Contract on site and submit their deposit.
NO CONTINGENCIES: The purchase and sale contract is not subject to any buyer contingencies for financing, appraisal, surveys, inspection or any other contingencies.
STARTING BIDS –RESERVE BIDS - The auctioneer reserves the right to start the bids on all lots. The auctioneer reserves the right to bid to the reserve amount, if any, on behalf of the seller.
ALL SALES FINAL - No claims can be made after the auction and no refunds will be given regardless of condition of items.
RESERVE AUCTION – The property is being sold subject to confirmation by the US Bankruptcy Court. The confirmation hearing is scheduled for March 18, 2025 at 9:30am at the US Bankruptcy Court in Greensboro, NC.
RECORDS - The records of the bookkeeper are final in case of a disagreement over the bid price for any lots.
PAYMENT - Terms of Payment are Certified Check, Cash or Credit Card. NO REFUNDS! If a buyer fails to pay in full for their purchases, the account will be turned over to a collections agency. A 3% credit card fee will be added to invoices paid by credit card.
CLOSING - Possession is given upon closing. Closing will occur 30 days after court confirmation.
DEED - Deed is a bankruptcy deed. Buyer is responsible for title search if desired.
TAXES - Buyers are responsible for any state or federal taxes dues.
BUYER'S PREMIUM - A Buyer's Premium of 10% is added to the last and highest bid to determine purchase price.
DEPOSIT: A 10% deposit of the contract price is required in certified funds from the high bidder within 3 days of the sale end date.
DUE DILIGENCE: No representations are being made on home and property. Bidder is responsible for their own due diligence.
SELLER'S RIGHTS: Seller has right to pay off debt before court confirmation.
Maximum Bid: The maximum amount you are willing to pay for a lot. The price will only increase by the minimum increment, but will automatically raise to your maximum bid as others bid up the lot over time.
Uniform Commercial Code:
Section 2-328 of the UCC provides federal law regarding a sale by auction. The code reads that a sale by auction is complete when the auctioneer so announces by the fall of hammer or in other customary manner. A bid is a legal binding contract between the bidder and auctioneer. Reopening a bid is at the sole discretion of the auctioneer. Failure to complete a payment in good faith, stopping payment on checks or refusing to pay for goods purchased at the auction may result in legal action against the buyer and may result in the collection being turned over to a collection agency.
Qualified Bidders:
“Auctioneer reserves the right to refuse to register any prospective bidder for any reason, or to require a cash deposit from a prospective bidder of an amount designated by Auctioneer and paid in advance by the prospective bidder to Auctioneer. Such deposit will be applied to any purchases made at the auction by the prospective bidder. At the end of the auction, Auctioneer will refund any portion of this deposit that has not been applied to purchases. Furthermore, Auctioneer may terminate online bidding privileges for any reason including, but not limited to: (1) tampering with auction lots; (2) any illegal conduct including collusive bidding; (3) disruptive behavior; (4) failure to abide by these terms; and (5) intoxication. Bidder agrees to leave the auction immediately and quietly upon request by Auctioneer. Any act of theft, vandalism or disruption will be prosecuted to the fullest extent of the laws.”
DISPUTED BIDS AND INCREMENTS: In case of a dispute over who is the high bidder, the auctioneer has the sole discretion to determine the high bidder.
DEFAULT BY HIGH BIDDER/BUYER: In the event of a default by the bidder/buyer the seller may resale the property to another bidder/buyer and in the event the property sells for less money than the original price the seller may seek the difference from the original bidder/buyer. The seller may have other rights to pursue damages or costs from the defaulted bidder/buyer as allowed by law.
ONLINE BIDDING: You must register in advance by clicking on Register to Bid and agreeing to terms for online bidding including submitting a credit card. You must be pre-approved before you receive a bidder number. The auction company may refuse to register anyone at its sole discretion.
AUCTION END TIMES: The online bidding is a timed event. Bidding will begin closing at 1:00pm on Friday, February 28. Auction Company reserves the right to extend the auction in 1 minute segments for any and all bids received in the last 1 minute of the auction.
TECHNICAL PROBLEMS: The auction company provides online bidding as a convenience for those that cannot attend the live auction. The auction company will not be liable for any faulty equipment, failure of equipment, faulty software, failure of software, lack of internet service connections or signals, or failure for any online bids that are not relayed on time to the auction company. The auction company reserves the right to extend bidding, delay bidding, continue with live bidding, or cancel bidding, without any notice to online bidders.
DEFAULT OR DELAY: If the buyer delays closing for any reason the buyer may be declared in breach of contract and will forfeit all deposits made and the seller may resale the property to another bidder/buyer. The buyer may be responsible for all cost to the seller or the auction company for subsequent resale. The seller may have other rights to pursue damages or costs from the defaulted bidder/buyer as allowed by law.
The auction company reserves the right to reclaim and resale any assets not paid for by the online buyer. Should the resale price be lower than the defaulted buyer's price, Seller and/or Auction Company reserves the right to seek the difference from the initial online buyer. All fees for collection, court fees, or attorney fees will be the responsibility of the original buyer that caused the default. All sales are final. No refunds are given.
DISPUTES: Any disputes that arise between the auction company, the seller, the seller's agents and the buyer will be dealt with by arbitration in Surry County, North Carolina.
DISCLAIMER: The auction company provides data, advertising, maps, that is believed to be correct but it is not guaranteed. Bidder's should rely on their own inspections and due diligence prior to bidding. Everything sells strictly AS IS. The auction company makes every effort to describe assets to the best of its ability but there are no guarantees as to the condition, quantity, condition, age, color, or value of the merchandise or real property sold online. Buyer agrees that buyer may not cancel purchase for any reason.
The bidder agrees to all terms and conditions of the auction and should read the detailed terms.
LICENSES: NC Firm #685, VA Firm #2, SC Firm # 1874
