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Multiple Property Real Estate Auction | Sold…Sold…Sold

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Auction Dates: Thursday | April 8th | 11:30am
Preview: By Appt Only
Location: Property Location: Mandeville, LA | Auction Location: Maritime Museum Madisonville, LA
Inquiry: Questions? Call 800-850-2252 or 225-686-2252
Listings Details:

Henderson Auctions has been commissioned to sell via absolute auction a large parcel of commercial land. Bankruptcy Real Estate Item selling via live auction w/Online Bidding Available on Thursday, April 8th at the Lake Pontchartrain Basin Maritime Museum (133 Mabel Dr. Madisonville, LA 70447) this real estate auction event will take place at 11:30am with lunch being served. Questions? Call Eagle Shaw 225-431-0544 or Jessica Cason 225-686-2252. Selling absolute to the highest bidder. Bankruptcy Case#20-10540. Realtors: Ty Gose, CCIM, SIOR | 225-247-3770 | ty@latterblum.com & Michael Cashio, CCIM | 225-247-9812 | mcashio@latterblum.com

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Auction Terms

LIVE AUCTION w/Online Bidding Available

Download a Digital Buyer’s Guide:

BIDDING INFO AND REAL ESTATE TERMS:

1- The terms and conditions of the auction sale and purchase of any property shall be governed by the Contract for Sale of Real Estate, herein called Purchase Agreement. The high bidder(s) will be required to sign a Purchase Agreement in accordance with paragraphs three, four and five.

2- FEES: Buyer will pay all closing cost and associated fees.

3- AUCTION PARTICIPATION DEPOSIT: To participate in this real estate auction an upfront $1000 auction participation fee is required for Lot# 1, 2, 3, 4, 6 & 7. A $10,000 auction
participation fee is required for Lot# 5. Payable via major credit (5% additional fee for credit card transactions), wire transfer, cash, money order or check. You may bring a check with you to the auction location (Lake Pontchartrain Basin Maritime Museum – 133 Mabel Dr.
Madisonville, LA 70447) on Thursday, April 8th, 2021. Auction day checks will be accepted and
returned at the conclusion of the auction, except the high bidder(s) and second highest back-up bidder(s). The auction participation fee will be refunded within a 48-hour period after the auction to all bidders except the high bidder(s). The high bidder(s) will be notified within 48 hours
whether the bid has been accepted by the seller. If so, the auction participation fee will be
credited at closing.

4- EARNEST MONEY DEPOSIT: An earnest money deposit equal to five (5%) of the contract price is due and payable within 48 hours of notice of award. All earnest money deposits will be deposited in Henderson Auction’s non-interest bearing escrow account. The 5% earnest money is due within 48 hours after the notice of award and is payable by wire transfer, money order or cashier’s check. This deposit will be deducted from the buyer’s settlement total at closing.
The 5% deposit is forfeited if the buyer fails to close on the property.

5- PURCHASE AGREEMENT: A purchase agreement is due within 48 hours of notice of award to the high bidder(s). If the buyer fails to sign a purchase agreement or provide the earnest money deposit within 48 hours of notice of award the auction participation deposit if forfeited.

6- VIEWING/INSPECTION: The buyer is responsible to complete inspections/viewing prior to the close of the auction.

7- “AS IS, WHERE IS”: The buyer is purchasing this property “as is, where is” with no warranties expressed or implied for habitation or development. This sale is not contingent on financing.

8- POSSESSION: Possession of the property will be at closing.

9- SURVEY/PROPERTY MAPS/TAXES: Seller will provide a title abstract and any available maps or surveys as available. Seller does not guarantee current surveys. If a current survey is required, it must be acquired by the buyer. All closing costs are paid by the buyer. Seller pays property
taxes pro-rated until time of auction.

10- REAL ESTATE TAXES: All real estate taxes shall be pro-rated.

11- CLOSING: Closing under all purchase agreements shall be on a date no later than forty-five (45) days after delivery of insurable title to purchaser. Buyer to pay attorney fees and closing costs. Winning Bid Subject to Owner Confirmation.

12- BUYER’S PREMIUM: 10% buyer’s premium shall be added to the high bid which will
establish the final contract sales price on lots (1, 2, 3, 4, 6 & 7).
No buyer’s premium will be charged on Lot# 5.

13- (This only applies to Lot# 5) The second-highest bids will be held open until May 31, 2021 as a back-up bid in case the hightest bidder fails to close. The second highest bidder will be required to close within forty-five (45) days of being notified that their bid has been selected for the sale of the property. The same terms will be applied to the second highest bidder (see paragraphs 4 and 5). If the second highest bidder is not awarded the property their auction participation deposit will be returned in seven business days.

14- (This only applies to Lot# 5 ) “IT IS FURTHER ORDERED that the successful bidder at the Auction may choose an experienced and insured Louisiana attorney or title firm to serve as the “Closing Agent” for the closing of the sale of the Property, as set forth herein. If the successful bidder does not designate in writing to Henderson and Debtor’s counsel by April 9, 2021 at 3:00 p.m. Central Time a different Closing Agent, the Closing Agent shall be Crescent Title, LLC.”

General Auction Site Policies:
When entering any of the auction sites you do this at your own risk.
Henderson Auctions is not responsible for any injuries or damage to property that occurs at the auction site.

To preview any properties before the auction contact the acting real estate agent.
Account Managers:
Kurt Sonnier | 225-363-8778 | kurt@hendersonauctions.com
Eagle Shaw | 225.431.0544 | eagle@hendersonauctions.com

Real Estate Agents:
Lot# 1 – Jackson Wheless | 318-344-7384
Lot# 2 – Nicole Trumps | 337-739-2791
Lot# 3 – James Noel | 337-652-6260 | jamesnoeljr@gmail.com
Lot# 4 – Randy Boughton | 225-955-6916
Lot# 5 – Ty Gose, CCIM, SIOR | 225-247-3770 | ty@latterblum.com
Michael Cashio, CCIM | 225-247-9812 | mcashio@latterblum.com
Lot# 6 – Tasha Dameron | 985-320-3523
Lot# 7 – Tasha Dameron | 985-320-3523

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