WEBSITE AUCTION TERMS AND CONDITIONS

South Auction Inc., its agents, employees, and officers

 are hereinafter referred to as the AUCTIONEER. 

NOTICE – All bidders must read and agree to the terms and conditions prior to bidding. If you are the winning bidder, you are required to close on the property.

Important Terms:

• The AUCTIONEER reserves the right to bid on behalf of the seller.. 

·       The purchaser agrees to mail a $10,000 earnest money deposit FOR EACH SYSTEM within 24 hours of the completion of the auction. The remaining balance shall be due at closing. 

●      A 10% buyer’s premium will be added to your final bid. 

●      The purchaser will pay all closing costs.

●      If you are the winning bidder and do not close on the property, the seller can sue you in a court of law.

●      The seller has the right to accept or deny the winning bid achieved on the auction.

●      South Auction represents ONLY the SELLER. As a bidder, you are NOT represented by South Auction

●      New bidders will be charged $1.00 to register. A third part processor handles all credit card transactions. The auctioneer is not responsible for credit card privacy and security. 

TERMS AND CONDITIONS:

The Terms and Conditions apply to all properties offered in this auction. All Bidders must read these terms before bidding on the auction. By bidding in the auction, you are acknowledging that you have read and agree to these terms and conditions and are responsible for closing on the property if you are the winning bidder. All winning bidders will be required to sign a real estate purchase contract.

Bidder Verification:

All bidders credit cards will be verified. South Auction reserves the right to ask any registered bidder for a bank letter of credit prior to or during the bidding period. South Auction may ask for a bank letter of credit on a per bidder and/or per-property basis. South Auction reserves the right to suspend bidding privileges for any or no reason either before, during, or after the auction with no notice to the bidder. South Auction reserves the right to refuse service to any person. If a bidder is called or text messaged during the auction and does not respond to a text or call, their bidding privileges will be suspended until they have talked to an auction company representative.

Due Diligence:

All property is being sold AS-IS, WHERE-IS, and with all faults.  All property is being sold subject to the following:

(1)  All taxes and assessments not yet due and payable:

(2)  All ordinances;

(3)  All easements and other matters of record;

(4)  All covenants, conditions, and restrictions of record;

(5)  All matters that would be disclosed by a current, accurate survey, and inspection of the property.

 

Inspection of Property:

It is the bidder’s responsibility to determine if the information contained herein is accurate. The property is open to thorough public inspection, and we highly encourage an inspection of the property prior to bidding. Contact the auctioneer before inspecting the property. Bidder must conduct and rely on their own inspection and investigation to determine the condition of the property. All inspections are at your own risk. The purchaser acknowledges that they are bidding on this property without being provided a seller's property disclosure and a lead-based paint disclosure. Purchaser further acknowledges that the seller nor the auctioneer makes any guarantees as to the suitability of any properties for a well or septic tank. 

Buyer’s Premium:

A 10% buyer’s premium will be added to the high bid to arrive at the purchase price. 

Earnest Money Deposit:

Earnest money deposit must be mailed or wired to the auction company within 24 hours of the auction closing. If needed, the auctioneer will supply wiring instructions.

Mail to:

South Auction, 338 East Main Street Swainsboro, GA 30401

Auction End Time:

*IMPORTANT* This auction has an extended bidding feature. If a bid is placed on any property within the last 5 minutes of the auction, that will trigger the extended bidding feature on ALL properties. The bidding on ALL properties will remain open until the bidding is quiet for 5 minutes on ALL properties. All bidders are strongly encouraged to watch YouTube videos posted on the auction website for further bidding instructions.

Closing Cost:

All closing costs will be paid by the winning bidder.

Closing Attorney: 

The closing attorney shall be Jerry Cadle PC Swainsboro GA.  

Internet/ Technical Issues:

Any personal internet connection failures during the auction are the responsibility of the bidder. The auction will continue as normal and the item will be sold. The auctioneer shall not be held responsible for any technical issues that may cause missed bids or bids to not be received by the auctioneer. 

Additional Terms:

1)    Auctioneer, nor the seller, guarantees that each auction sign is accurately placed on the property being sold.

2)    All acreage referenced in brochures, signs, and online are estimated acres.

3)    No personal property is included with any property unless specifically stated.

4)    Any employees or agents of South Auction are allowed to bid on any South Auction property provided that they will pay a buyer’s premium and follow all other protocols as would any other buyer.

5)    The auction company may elect to limit or adjust bid increments.

6)   The auction company has the right to charge the buyer a $5000 non performance charge on their supplied credit card if they do not complete their purchase of any property. By bidding in the auction all bidders agree to this charge.

8 different water systems. This is an excellent investment opportunity for someone who is willing to put the effort and time into running and maintaining one or multiple water systems. The combined annual income from all 8 systems is over $200,000 per year. 

What does owning a water system entail?

 There are two options to owning and managing a water system.

1. Taking an 8 hour class to become a Licensed Water System Operator

2.  Hire a professional who manages water systems. Southern Water Systems Inc provides licensed water and waste-water system operations in South East Georgia and can provide turn-key operation of these systems for a fee . The purchaser or the purchaser's repair company of choice would be responsible for repairing leaks, water line breaks and well operations. For more information , please give them a call @ 912-618-9036 or contact them at www.southernwatersystems.com "serious inquiries only".

                     BELOW IS A LIST OF ITEMS THAT THE PURCHASER OR THE MANAGEMENT COMPANY ARE RESPONSIBLE FOR:

1. Collect monthly water samples as required by Environmental Protection Division 
2. Repairing leaky/broken pipes as needed.
3. Ensuring that the well and pump are in excellent operating condition.
4. Collecting and submitting monthly, quarterly and annual reports to EPD
5.  Treat the water source with chlorine and maintain adequate chlorine levels as required by permit
6. While some of these taps are metered the current owner does not read the meters. The users are billed a flat monthly fee.
7. Billing and collections. Southern Water Systems Inc currently provides the billing for all systems. This includes sending out bills, collecting payment, depositing funds, and providing monthly financial reports to water system owner.

Owning a water system is a very lucrative investment while also a very serious undertaking. Water is one of our most precious resources and our access to water is extremely important! When a customer calls, and they have no water you must be able to respond quickly to this call.  To learn more about becoming a Licensed Public Water System Operator click here: https://rules.sos.ga.gov/GAC/750-3-.04

The current owner is a licensed operator and will help the purchaser transition into owning this water system. She will continue to be the licensed operator for 3 calendar months after the sale.

Lots 101-105 owned by Marsh Water Systems can be combined using our combination bidding platform

• Lot 101 LAKE LUCK- Complete water system with 47 different taps. This includes two wells and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates $2,256 approximately per month. Monthly expenses for power, chlorine, and billing average $553. For operation and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $350 per month.  

• Lot 102 RANCH PARK- Complete water system with 91 different taps. This includes two wells and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates approximately $4,368 per month. Monthly expenses for power, chlorine, and billing average approximately $881 a month. For operation and management services provided by Southern Water Systems, the purchaser would need to add an additional $500 per month.  

• Lot 103 OGBURN SUBDIVISION- Complete water system with 54 different taps. This systems comes with fee simple ownership in three parcels of real estate. This system generates approximately $2,025 per month.  Monthly expenses for power, chlorine, and billing average approximately $640. For operation and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $350 per month. 

• Lot 104 DOGWOOD- Complete water system with 35 different taps. This includes one well and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates approximately $1,680 per month.  Monthly expenses for power, chlorine, and billing average approximately $421. For operation and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $200 per month. 

• Lot 105 DEALVA- Complete water system with 15 different taps. This includes one well and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates approximately $720 per month.  Monthly expenses for power, chlorine, and billing average approximately $268. This system is small enough that is does not require permitting. The purchaser of this lot is not required to obtain the certification of water and wastewater treatment.  For operation and management services provided by Southern Water Systems, the purchaser would need to add an additional $200 per month. 

Lots 106-108 owned by Quality Water Systems  can be combined using our combination bidding platform

• Lot 106 LAKE OWL HEAD- Complete water system with 65 different taps. This includes one well and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates approximately $2,600 per month.  Monthly expenses for power, chlorine, and billing average approximately $483. For operations and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $400 per month. 

• Lot 107 LAZY RIVER- Complete water system with 38 different taps. This includes two wells and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates $1,520 per month.  Monthly expenses for power, chlorine, and billing average approximately $436. For operations and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $300 per month. 

• Lot 108 THREE RIVERS- Complete water system with 62 different taps. This includes four wells and NO REAL ESTATE ownership with this purchase. You will have a perpetual easement for access to your well. Please reference the legal description for more information. This system generates $2,480 per month.  Monthly expenses for power, chlorine, and billing average approximately $724. For operations and management services provided by Southern Water Systems Inc, the purchaser would need to add an additional $400 per month. 

Combining the lots owned by Marsh with the systems owned by Quality will NOT BE ALLOWED

• ***COMBINATION BIDDING opens Dec 3rd at 9am***
  
• BIDDING ENDS: Dec 3rd at 12pm NOON est. with extended bidding in place
• Bidding is on each system 
  
• 10% Buyer's Premium will be added to the final winning bid 
• There will be a $5,000 earnest money deposit required on each system.
• Closing Attorney: Jerry Cadle PC, Swainsboro, GA / Closing Date: on or before Dec. 20th, 2024
  
• No surveys are needed 
  

931 King Circle Drive
Swainsboro, Alabama 30401
United States