142 Mexico Rd Edenton NC

2 Bedroom, 1 Bath House & Lot


142 Mexico Rd Edento, NC is located just off of Hwy 17 and is less than 2 miles from downtown Edenton. 

ONLINE BIDDING ONLY
Began: 06/20/19 at 12:00 PM EDT
Ended: 06/27/19 at 7:00 PM EDT

To See the Terms and Conditions, Home Inspection Report, The Purchase Contract and other disclosures, please click on the Documents Tab.

Excellent opportunity to purchase two homes located side by side at 142 and 144 Mexico Road Edenton, NC 27944.  Both homes include 2 bedrooms, 1 bathroom, living room, and kitchen.  The current owner has used the homes as long term rental units for multiple years and now wishes to liquidate these properties.  Properties are located just outside the town limits of Historic Edenton, NC and could be also be used for a starter home or weekend getaway.  

     Online Only Auction opens for bidding on June 20th 2019 and ends at 7:00 P.M. on Thursday June 27th.  Register to bid online at www.billforbes.com.  Call Broker/Auctioneer Jake Forbes at (252) 766-1600 to arrange a showing or for more information.  

Additional Information:

Year Built: 1957

Tax Value: $42,420

Estimated Yearly Taxes: $316.03

AUCTION PREVIEW DATE SATURDAY JUNE 22ND AT 10:00 A.M. OR BY APPOINTMENT.  

Terms and Conditions – For Bidding on the On Line Bidding Only auction for

The Two Auction Properties listed as follows:

Parcel # 1 – 2 Bedroom, 1 Bath Home located at 142 Mexico Rd.

Parcel # 2 – 2 Bedroom, 1 Bath Home located at 144 Mexico Rd.

 

Bidding is open on this auction from 12:00 noon on June, 20th through 7:00 PM on June 27th, 2019. All times are Eastern US Time.

 

AUCTION LOCATION:  On Line Bidding Only. Auctioneers will be at their office located at 201 Ocean Highway S., Hertford, NC 27944 from one hour prior to the close of bidding until after the bidding is closed for consultation, assistance with bidding and information for bidders. ALSO SEE PROVISION NUMBER 23 OF THESE TERMS AND CONDITIONS.

 

  1. Auctioneers are AGENTS OF THE SELLERS in this transaction and Buyers are here by cautioned to thoroughly read the agency disclosure statement located within this “Bidder’s Package.”  Buyers will also be required to sign the agency disclosure statement.   If you hire a “Buyer’s Agent,” YOU will have to pay him/her, UNLESS arrangements have been made at least 48 hours prior to the auction between you, your chosen agent and the auctioneers.

 

  1. The property is being offered “as is, where is” with no warranties as to condition or purpose of use.

 

  1. There will be a 10% “Buyer’s Premium” added to the high bid, and the total amount of the high bid and the “Buyer’s Premium” will be the contract purchase price.

 

4.         The high bidder will be required to sign, and fully execute, the Offer to Purchase and Contract, according to these terms and conditions and displayed elsewhere in this “Bidder Package” and return the properly executed Offer to Purchase and Contract, WITHOUT ANY MODIFICATIONS to United Country Forbes Realty & Auctions, LLC home office, located at 201 Ocean Highway S., Hertford, NC 27944 prior to 5:00 PM on Friday, June 28, 2019. In addition, buyer must make an earnest money deposit of at least Three Thousand Five Hundred Dollars ($3,500.00) no later than 5:00 PM on Friday, June 28, 2019, by cash, bank guaranteed check or wire transfer in US Funds.  The balance of the purchase price must be paid either in cash or certified funds at the delivery of the deed, which is to be no later than three o’clock P.M. on the 15th day of August in the year 2019. 

 

5.         The earnest money deposit is to be made payable to United Country Forbes Realty & Auctions, LLC to be deposited in its NON – INTEREST BEARING Trust Account until closing or dispersed as provided by the purchase contract.

 

6.         If Buyer fails to perform as specified in the offer to purchase contract, the earnest money deposit will be forfeited to the SELLER and Auctioneer as liquidated damages.  Such forfeiture does not affect any other remedies available to Seller and/or Auctioneer for such breach of contract.

 

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Buyer’s Initials                         Buyer’s Initials

7.         Seller will furnish the deed and revenue stamps at closing.  Buyer will pay all other closing costs including the Chowan County 1% Transfer Tax.  The Chowan County real estate taxes  will be prorated at closing, with seller paying all prior year taxes, and fees, and current year taxes, and fees, from January 1, 2019 through the day of closing.  IN ADDITION, BUYERS MUST PAY SURVEYING FEES OF THE FOLLOWING AMOUNTS ON THE FOLLOWING PARCELS:

            Parcel # 1 — $600.00; Parcel # 2 — $600.00; THESE FEES WERE NECESSARY TO DETERMINE THE EXACT BOUNDARIES OF THESE PROPERTIES FOR THE NEW OWNERS.

 

8.         The offer to purchase contract and its terms will prevail as to the terms of the agreement between buyer and seller.

 

9.         The subject real property is sold for cash, not contingent on financing.  Buyer(s) should be sure of his/her/their ability to obtain a loan on the property if a loan is necessary for Buyer(s) to complete the purchase.  In the event the buyer(s) are unable to obtain a loan and do not close the transaction, Buyer(s)

will forfeit any and all earnest money deposits to Sellers and Auctioneer as liquidated damages.  Forfeiture of earnest money deposits does not release Buyer(s) from any other legal remedies due to Sellers and Auctioneer.

 

10.       Any properly registered and qualified bidder, including auctioneer and auctioneer employees, may bid on the property.

 

11.       THE BROKER/AUCTIONEER/FIRM IS CONDUCTING ALL BROKERAGE/AUCTION ACTIVITIES IN REGARD TO THIS TRANSACTION WITHOUT RESPECT TO THE RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP OR FAMILIAL STATUS, SEXUAL ORIENTATION OR GENDER IDENTITY OF ANY PARTY OR PROSPECTIVE PARTY TO THIS AGREEMENT

 

12.       No Bidder on the real estate may be declared the high bidder unless he/she is properly registered to bid on the real estate and sign the proper forms for bidder registration.

 

13.       All inspection periods, INCLUDING, BUT NOT LIMITED TO, Structural, HVAC, Lead Based Paint, asbestos, underground storage tanks and OTHER ENVIRONMENTAL ASSESSMENTS, shall be PRIOR TO THE AUCTION and no inspection conducted after the auction and after the signing of the Purchase Contract shall be grounds for not performing as specified in the purchase contract.  Buyer(s) are hereby advised that he/she/they ARE SOLELY RESPONSIBLE to inspect the property to their satisfaction as to condition and purpose of use, INCLUDING COUNTY/CITY

            ZONING REQUIREMENTS AND/OR ZONING VIOLATIONS, HOMEOWNERS ASSOCIATION RESTRICTIVE COVENANT DOCUMENTS AND FEE SCHEDULES or if applicable any Historic Register’s National and/or local requirements. NO SALE SHALL BE INVALIDATED by the BUYER as a result of He/She not conducting their own inspection prior to placing their first bid on this auction.

 

 

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14.       This “Bidder’s Package” includes the following disclosures and Buyer acknowledges receiving them prior to being asked to sign an offer to purchase contract.    

           

            A.        The North Carolina Residential Disclosure Statement, if applicable.

 

            B.        Lead Based Paint Disclosure Statement from Seller, if applicable.

 

            C.        The “Summary Pages” if the Home Inspection Report- if applicable.  (The entire Home Inspection Report will be available at the auction for Buyer(s) inspection, OR, Buyer(s) may download a copy by visiting auctioneer’s web page at www.billforbes.com or view the inspection summary at the auction (if applicable). 

 

            D.        Mineral and Oil and Gas Rights Disclosure

 

15.       All the properties in this auction are owned by the same sellers.

 

16.       Auctioneers have made every effort to provide the most complete information possible.  However, Auctioneers do not warrant the completeness or accuracy of the information provided.  These “Terms and Conditions” may be amended by auctioneers by announcements via email to properly registered bidders, to attempt to assure Buyer(s) are provided the most complete and accurate information.

 

17.       United Country Forbes Realty & Auctions, LLC Online Auctions are timed auctions, with all bidding closing at a certain time. These auctions also have an auto-extend provision, that will extend the auction for 10 minutes from the last bid placed, so long as the last bid placed is made within ten minutes of the scheduled close. The bidding will then extend from each and every successive bid until no bid is placed within ten minutes of the last bid executed. In addition, since these properties adjoin each other, if the bidding is extended on either property, the BIDDING WILL EXTEND ON BOTH PROPERTIES UNTIL NO BID IS PLACED DURING THE FINAL ALLTOTED TIME FOR BIDDING.

 

18.       United Country Forbes Realty & Auctions, LLC reserves the right, at their sole 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, legal issues and/or the convenience of the Seller(s) or the auction company.

 

19.       Should technical issues arise with the server, software provider, software, or any other online

auction difficulties, United Country Forbes Realty & Auctions, LLC reserves the right to extend

the auction, reschedule the auction, extend the bidding, close the bidding or any other remedy

deemed proper by the auctioneers. Neither the auction company, not any of its service providers

shall be held liable, or responsible, for any missed bid or failure of any of the software to function as designed. United Country Forbes Realty & Auctions, LLC may send email notifications to properly registered bidders with updated information deemed necessary at the sole discretion of the auctioneers.

 

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20.       The Auction Firm and Auctioneer has the sole discretion to determine the increments of bidding and how the property or properties will be offered for sale.  The increments of bidding on this auction will be as follows:

 

            $100 — $500.00 = $25.00 minimum bidding increments

            $501 — $1,000.00 = $50.00 minimum bidding increments

            $1,001.00 — $50,000 = $100.00 minimum bidding increments

            $50,001.00 — $100,000.00 = $250.00 minimum bidding increments        

$100,001.00 — $300,000.00 = $500.00 minimum bidding increments

$300,001.00 — $500,000.00 = $1,000.00 minimum bidding increments

            $500,001.00 — $1,000,000.00 = $5,000.00 minimum bidding increments

            $1,000,001 and up = $10,000.00 minimum bidding increments

 

21.       No Stop Payment Orders or Credit Card Charge-Backs. Each Registered Bidder agrees that such

Registered Bidder will not, under any circumstances, (i) issue a stop payment order with respect to any

checks issued at or in connection with the Auction, or (ii) initiate a credit card charge-back with respect

to any purchases at the Auction. Each Registered Bidder further agrees that if, in violation of these

Terms and Conditions, a stop payment order is issued or a credit card charge-back is initiated, these

Bidder Terms and Conditions shall be conclusive evidence of the Registered Bidder’s (i) waiver of any

rights to issue a stop payment order or to initiate a credit card charge-back, and (ii) agreement not to

issue a stop payment order or to initiate a credit card charge-back; and each Registered Bidder

acknowledges and agrees that on Auctioneer’s presentation of these Bidder Terms and Conditions to the

bank, credit card company, or other financial institution against which a check was drawn or that issued

the credit card on which charges were made, such bank, credit card company, or other financial

institution shall reverse any stop-payment order and/or deny any credit card charge-back, and shall re-

credit all amounts to or for the account of Auctioneer. If, in violation of these Bidder Terms and

Conditions, a Registered Bidder issues a stop payment order or initiates a credit card charge-bank, such

Registered Bidder shall, even if successful, remain liable for all purchases made at the Auction, and

shall be responsible for all costs and expenses, including attorneys’ fees, incurred by or on behalf of

Auctioneer or Seller in challenging the stop payment order or credit card charge-back and in collecting

payment for the Property purchased at the Auction. Each Registered Bidder agrees that the agreement

not to issue a stop payment order or to initiate a credit card charge back is a condition to the issuance of

a Bidder Number to such Registered Bidder, and is being made as an inducement for Auctioneer to

accept such Registered Bidder’s Bidder Registration and to issue a Bidder Number. Each Registered

Bidder acknowledges and agrees that Auctioneer is relying on the Registered Bidder’s agreement not to

issue a stop payment order or to initiate a credit card charge back in accepting such Registered Bidder’s

Bidder Registration and in issuing a Bidder Number.

 

 

 

 

 

 

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22.       Governing Law; Jurisdiction; Venue. This Agreement shall be governed by and construed in

accordance with the laws of the State of North Carolina, including its statutes of limitations, but without

regard to its rules governing conflict of laws. All claims, disputes, and other matters between the parties

shall be brought in the state or federal courts sitting in and for Perquimans County, North Carolina,

which courts shall have exclusive jurisdiction, and shall be the exclusive venue, for any and all such

claims, disputes, and other matters. The parties, and each of them, irrevocably and unconditionally

(i)agree that any claim, suit or cause of action relating to this Agreement, or the transactions contemplated hereby, shall be brought in the state or federal courts sitting in and for Perquimans County, North Carolina,

(ii) consent to the jurisdiction of such courts for any such claim, suit or cause of action;

(iii) waive any objection that such party may have to the laying of venue of any such claim, suit or cause of action in such courts; and (iv) waive any objection to the bringing of such claim, suit or cause of action in such courts on the grounds of forum non conveniens.

 

23.       Auction Location. The Auction is being conducted in Perquimans County, North Carolina. These

Bidder Terms and Conditions are entered into in Perquimans County, North Carolina, and all bids are

received in Perquimans County, North Carolina regardless of the physical location of the Bidder, the

Seller, or the Auctioneer. All Property is offered for sale in Perquimans County, North Carolina, and

will be Knocked-Down in Perquimans County, North Carolina. Each bidder has made a willing and

knowing election to participate in the Auction, and to engage in the transactions arising from and/or

related to the Auction, in Perquimans County, North Carolina.

 

24.       Should the auction high bidder not return the properly executed Purchase Contract, the proper amount of Earnest Money Deposit in US Funds, to United Country Forbes Realty & Auctions, LLC’s home office by 5:00 PM Eastern Time on Friday, June 28, 2019, such bidder, shall be deemed to be in default and will be “Flagged” in our auction company and our internet service provider’s databases as a Non Paying Bidder. Non-Paying Bidder’s will not be allowed to bid at any of our future auctions, either live or online.

A.        IN ADDITION, United Country Forbes Realty & Auctions, LLC reserves the right to sell the property to the next highest qualified bidder when the highest bidder defaults and does not perform by remitting the earnest money deposit and executing the Offer to Purchase and Contract properly as described in item 4 above in these Terms and Conditions.

 

B.        By registering to bid and placing bids on this auction, any buyer who defaults on his/her high bid and fails to perform by submitting a properly executed Offer to Purchase and Contract with the proper Earnest Money Deposit in US Funds, FURTHER AGREES that United Country Forbes Realty & Auctions, LLC has the right to charge the credit card submitted to register to bid in this auction the amount equal to the Twenty Percent (20%) Earnest Money Deposit in US Funds which shall be NON-REFUNDABLE. United Country Forbes Realty & Auctions, LLC, and the SELLER(S) shall also have any other default remedies available to them under North Carolina law.

 

 

 

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By bidding at this auction, Buyer acknowledges that he/she has received a copy of these Terms and Conditions and that he/she has had the opportunity to read and understand them and agrees to abide by them at this auction

 

 

 

IN TESTIMONY WHEREOF, the below named parties acknowledge that he/she/they have read the above forgoing Terms and Conditions of this auction contained herein, and hereby agree to all of the above, and further acknowledge receipt of a copy of these Terms and Conditions.

 

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Bidder Number

 

____________________________              ____________________________

(Bidder-Buyer) Printed Name                                                          (Bidder-Buyer) Printed Name

 

 

____________________________              ____________________________

(Bidder-Buyer)   Signature                                                                (Bidder-Buyer)   Signature                                               

 

                       

Buyer’s Contact Information:

 

Address: _________________________                   ____________________________

 

City, State, Zip:  __________________________     ____________________________

 

Phone: ________________________                        ____________________________

 

Email: ________________________                        ____________________________

 

 

 

 

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142 Mexico Rd Edenton Living Room Kitchen Backyard Views Bedroom

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United Country Forbes Realty and Auction, LLC

http://billforbes.com

201 Ocean Highway S Hertford, NC 27944

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