ONLINE w/ BID CENTER
March 12th at 8am - March 19th at 2pm

PROPERTY ADDRESS
Richmond County, NC

INSPECTIONS
March 5th from 10am-2pm
March 12th from 10am-2pm
March 19th from 10am-2pm
Or by appointment


PROJECT MANAGER
Richard Lilly
704-294-5647


BID CENTER LOCATION
Ellerbe Springs Inn
2537 North US Highway 220
Ellerbe, NC



PROPERTY DESCRIPTION


401.4 +/- acres being auctioned are divided in 5 parcels and being sold in individual parcels, combinations or all together.
This property was a working poultry operation until recently while also a thriving beef cattle facility.   Eight 21,000 square feet houses are supplied by three wells.  Coastal Bermuda pastureland serves dual purposes as farmland too.  Approx. 255 acres are Cropland/Pasture. Woodlands comprise approx. 130 acres and building sites constitute approx. 17 acres.   All acreages, drawings, and maps are estimates to assist in illustrating the property boundaries.  Our information does not replace a survey. There’s also a portion that is used as a hunting tract with a variety of wildlife represented.   All of the farming property is fenced and cross sectioned, with cattle pens, hay storage and equipment storage in place.  The water course running south of Auction Lot 2 is fenced as is a stand of pine timber on Auction Lot 3.   County water is available from the south side at Hwy. 73.  Access to the properties are directly off Hwy. 73 and through a current access easement on Ray’s Hill Road, a dirt road accessing the property to Auction Lot 4 and via 50 FT easements to Auction Lot 2, 3 and 5. 

 

                  Auction Lot 1:  86.7 +/- Acres -  This tract has frontage access to Highway 73 on the south boundary.  Mostly level tract that has the farm buildings and one water well.

  • Most acreage is open ground and fenced.  Currently in pasture.  There is no timber with commercial value on this tract.
  • 1 Cattle barn with exterior adjoining pens and loading dock.  80 FT x 180 FT engineered steel clear span building with a 14 FT eaves height.  A portion of the building consists of cattle working chutes while the remainder is open storage.  Constructed in 2005.
  • 1 Hay storage pole barn that was constructed in 2005.  The barn is 42FT x 190 FT and is clear spanned.  Water faucets are present at and near this barn.  One side of the barn was previously used for tobacco barn loading.  There are no tobacco barns present now. 
  • Livestock waterers are present in the pasture areas.  One well is present on this tract but is currently not in use.  It has experienced some damage from freezing and has not been used in a year or more. 
  • The seller currently has an active lease with American Towers, Inc. for easement for a cell tower.  The tower is active and the lease is for ‘perpetuity’ and was originated in its current status in 2009.  There is no current revenue realized from the lease.   A copy of the lease is available on the Iron Horse Auction Company website.   The cell tower resides on Auction Lot 1. 
  • Grain bins previously resided on this tract but have been removed.   The concrete bases still reside near the cattle pens at the barn. 

Auction Lot 2:  80.7+/-  Acres -  This tract is primarily coastal Bermuda pasture and is on the north side of the creek forming the boundary to the south.   Auction Lot 2 has common boundaries with Auction Tracts 1, 3 and 4.  A 50 FT road easement provides road access via Ray’s Hill Road from Hwy. 73.

  • This entire Auction Lot 2 is pastured in coastal Bermuda.   The west end of is sectioned off in two smaller pastures with livestock waterers.   There are 5 sections of pasture in this parcel.
  • The watercourse on the south boundary to Auction Lot 2 once contained a pond in the area of the border with Auction Lot 3.  2018 tropical storms created flooding upstream that washed out a road crossing from Auction Lot 1 and the pond dam that also provided road crossing to Auction Lot 3.   Neither of the washed out dirt roadways have been replaced to date.  The waterline from Auction Lot 1 supplying livestock waterer on Auction Lot 2 was also broken in the road washout and has not been repaired. 
  • There is a stand of mature pine timber on the north side of Auction Lot 2. The pines are inside the current pastures on Auction Lot 2.

 

 

Auction Lot 3:  128.7+/- Acres

  • This tract has road access on Hwy. 73.  No roadway is currently in place.
  • Woodlands cover the south portion of the tract next to the highway.  The center of this tract evolves into pasture and farmland.  The woodlands next to Hwy. 73 are not fenced.    All farmland and is fenced.   A stand of pines on the rear of the tract is fenced from pasture areas. 

 

Auction Lot 4:  52.6+/- Acres

  • This tract is accessed via Ray’s Hill Road from Hwy. 73.
  • This tract contains the poultry operation:
    • Eight chicken broiler houses – Each are 21,000 SF (42 FT x 500 FT) clear span.
    • Each house is equipped with systems for feed, water, heat and ventilation.  All computer controlled.  Originally constructed in 2000.
      • Each house has its own ante room, cool cells, and tunnel ventilation.
      • Both sides to each house are solid wall construction with built-up clay floors.
      • Main feed lines are Choretime (auger type).  Two exterior feed bins supply each house.
      • Choretime water systems control the nipple drinkers.
      • 26 radiant heaters are located in each house.
      • There are 2 65 FT cool cells in each house controlled by Choretime systems.
      • Tunnel ventilation consists of ten 48 inch fans and two 36 inch fans in each house.   These were updated in 2010 and managed by a Choretime controller.
      • Water, heat and ventilation systems were upgraded in 2014/2015.
      • Each house has an independent liquid propane tank.
    • Two 100 KW generators on site that were installed in 2000.  
    • There are two auxiliary litter sheds.  Both are 2592 SF (36 FT x 72 FT) with 13 FT eaves height.  They are pole barn construction with concrete floors.
    • There are 3 active water wells on Auction Lot 4.  One is enclosed in a 20 FT x 20 FT building.  The other two wells are fenced.
  • Auction Lot 4 is completely fenced.   Cross sectioning exists so that the poultry houses are in a separate pasture area from the other acreages in the lot.

 

Auction Lot 5:  52.8+/- Acres

  • This tract is predominantly wooded in a mixture of volunteer hardwoods and mixed pine.  The terrain is rolling and in places is heavy in undergrowth.
  • This land has been used for hunting deer, turkey and duck.  Wildlife abounds in this area of the farm. 

    If this auction lots are sold separately a survey will be required. The surveyor will be chosen by the auctioneers and the survey will be the expense of the purchaser.

    The farm is presently in the Land Use Tax Program, which is optional for the new buyer.  In the event the new buyer chooses to not continue the property in the Land Use Tax Program, the new buyer will be responsible for the land use transfer fee. 

    The Seller does not warrant that the poultry houses meet specifications for certain growers.  They may need to be upgraded.  All bidders should consult with their integrator that they want to contract with prior to bidding & purchasing.

  • Personal property items in photos do not convey with the real estate. Farm equipment, vehicles and livestock equipment will not be sold with real estate and are not part of the auction. 

Personal property items in photos do not convey with the real estate. Farm equipment, vehicles and livestock equipment will not be sold with real estate and are not part of the auction. 

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.  If the Buyer is represented through a Buyer’s Agent, there will be an additional Two Percent (2%) Buyer’s Premium. 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.

 

Disputes:

Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Richmond County, North Carolina as the sole and exclusive venue.

 

Auction Bidder and/or Buyer Default:

The successful Bidder and/or Buyer not executing and returning the contract with the earnest money deposit within 48 hours of the conclusion of the auction will be considered in default and will be black-flagged in our database as a Non-Paying Bidder and will no longer be allowed to participate in our auctions. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder in the event the successful high Bidder does not comply with the terms of the sale. By bidding on the property, the Buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default. By registering and placing a bid, you agree that if you happen to become a Default Bidder or Non-Paying Bidder, Iron Horse Auction Company, Inc. has the right to charge your credit card for the amount equal to the Twenty Percent (20%) earnest money deposit, which shall be non-refundable.

 

Auction Administrative Fee

In the event a winning Bidder fails to submit the properly signed "Contract For Sale of Real Property" and earnest money deposit as provided in the pre-stipulated Auction Terms & Conditions, the winning Bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Iron Horse Auction Company and the Seller as provided in the Auction Terms & Conditions and "Contract for Sale of Real Property". All administrative fees are non-refundable.

 

Auction Cancellation – Bid Rejection:

Iron Horse Auction Company, Inc. reserves the right to reject any and all bids for any reason. Iron Horse Auction Company, Inc. reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed, unless the auction is advertised Without Reserve.

 

Acceptance of Bid Prices:

All bids are subject to Seller confirmation unless the auction is advertised Without Reserve. The successful Bidder and/or Buyer will be required to enter into a Purchase Agreement immediately following the close of the auction. Iron Horse Auction Company, Inc. will email documents to be executed and they need to be faxed or emailed back to Iron Horse Auction Company, Inc. within 48 hours of the end of the auction. Successful Bidders and/or Buyers not executing and returning contracts with earnest money deposit within 48 hours, will be considered in default. Any and all inspections that a Buyer may want must be completed at the Buyer’s expense prior to the end of the auction. Iron Horse Auction Company, Inc. reserves the right to sell to the next highest qualified Bidder if the winning Bidder is in default of these terms. Winning Bidder and/or Buyer must execute the contract with no changes, modification, additions or deletion. In the event that you find yourself as a Bidder in default, you will be black-flagged as a NON-PAYING BIDDER and will not be allowed to participate in any further Iron Horse Auction Company, Inc. auctions.

 

Title:

As specified in the Auction Purchase Contract.

 

Deed:

As specified in the Auction Purchase Contract.

 

Possession:

Not given until closing and further specified in the Auction Purchase Contract.

 

Real Estate Taxes and Closing Cost:

Taxes will be prorated to the day of closing using the most current available year’s tax amount. HOA fees and condominium assessments, if any, will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees.

 

Easements:

Subject to any and all easements recorded or unrecorded.

 

Zoning:

This property is subject to all state and local zoning ordinances.

 

Acreage & Aerial Photos:

Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.

 

Bidder Verification:

The identity of all Bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Iron Horse Auction Company, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Iron Horse Auction Company, Inc. reserve the right to refuse service to any person who they feel to be fraudulent.

 

Bidder Responsibilities:

Bidder responsibilities include, but are not limited to the following: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the website, you must obey any and all local, state, and federal laws. Violations will result in termination of website use privileges. We gather aggregate information from the website, which may include but is not limited to, the number of page visitors, most visited pages, and any and all correspondence.

 

Guaranty Agreement:

By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Iron Horse Auction Company, Inc.

 

Age Requirement:

All Bidders must be eighteen (18) years of age or older.


    Online Auction w/ Bid Center

    •   Mar 12 @ 8:00AM EDT (Start)
    •   Mar 19 @ 2:00PM EDT (End)
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