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LAND AUCTION - 82+/- ACRES OFFERED IN 6 TRACTS IN PAMLICO COUNTY, NORTH CAROLINA

Pamlico County, North Carolina

Thu, May 27, 5:00 PM

• 82+/- Acres offered in 6 Tracts • 6 Waterfront Acreages with Potential Dock Access • Bell Point - Panoramic Views • Large, Mature Loblolly Pines Throughout Property • Numerous Secluded Settings • Pamlico Sound - Fishing, Boating & Waterfowl Hunting Paradise • Stunning Coastal Waterfront Building Sites on The Bay River • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.



OPEN HOUSE/INSPECTION DATES

Wednesday, April 28 from 4:00 - 7:00 pm
Saturday, May 15 from 1:00 - 5:00 pm
Wednesday, May 26 from 4:00 - 7:00 pm

PROPERTY LOCATION

Woodson Trail, Merritt, NC 28556

AUCTION LOCATION

New Bern Waterfront Convention Center, 203 S Front St, New Bern, NC 28560

PROPERTY DESCRIPTION

The Woods on Bell Point - You will not want to miss the opportunity to view a truly special piece of earth. This property is breathtaking! Here you will discover towering Loblolly Pines, coastal reed grasses and nesting Osprey colliding with the sun rising and setting over the Pamlico Sound and Bay River - creating a setting that words struggle to describe. Encompassing 82+/- acres, The Woods will be offered in 6 attractive waterfront tracts that range from 10+ to 26+/- acres in size. Each tract has its own unique character, fronts the water and has approved septic system locations. At the auction, you will have the opportunity to purchase the property that is right for you! Bidders may place bids on any individual tract, combination of tracts or the entire property. Join us on a Land Tour Day to investigate this spectacular property!

TRACT DESCRIPTIONS

Tract 1: 10± ac The Bell Point is truly stunning, 10+/- acres with 180 degree waterfront views, you will struggle to find a more attractive Tidewater property.

Tract 2: 10± ac with waterfront sunrise views that will rival any.

Tract 3: 11± ac towering pines and a wonderful potential dock site make this tract worth investigating.

Tract 4: 15± ac with a wonderful potential dock site and lots of acreage to make your own!

Tract 5: 26± ac take your pick of numerous building and dock site options on this gorgeous tract.

Tract 6: 10± ac that is a stunning setting, awesome potential dock site here and the Pine Trees on this tract are unmatched!

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 6 will be offered in individual tracts, in any combination of these tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

BUYERS PREMIUM: A 4% Buyers Premium will be added to the Bid Price and included in the Contract Purchase Price.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall be obligated only to convey a merchantable title by Trustees Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable surveys and closing documents are completed by Seller.

POSSESSION: Possession of the land shall be at closing.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: The sale of the Property will include the minerals currently owned by Seller (if any). However, no promise, warranty or representation will be made as to the existence or value of any minerals or the nature or extent of Sellers interest therein.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions, property tax records and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.