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Notes from a few of my past
Auctions : |
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Sale Price - $1,350,000
The King Estate
This 236
acre parcel was located about 1 ½ hours from Ellijay in Floyd
Co., GA. This tract was loaded with frontage on Big Cedar
Creek. The interest generated by the creek frontage was the key
to the sale. We sold this tract this past December 6th
. Our purchaser was Byrl Horton, a developer out of Atlanta.
He is planning on using the property for a Conservation
Easement. This program is pushing prices up and allowing
purchaser to basically cash-flow large tracts by their tax
savings. We usually work with the Alabama Land Trust. Please
visit their website if you would like to learn more:
http://www.galandtrust.org/
News article in the Rome Paper about the sale
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Sale Price - $420,000
The Parmer Family Property
This sale was conducted this past Wednesday on Big Cedar Creek.
The property was accessed by a 20’ easement and was approved for
only 1 building site. In spite of the difficulty of marketing
such a tract, we exceeded the owner’s expectations by 25%. Our
purchaser came from the Metro Atlanta market.
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Sale Price - $1,450,000
The McGowan Estate
This property is located just West of Rockmart on both sides of
Hwy 278. This property had also been in the family for many
years. This sale took place during a major renovation of Hwy
278. We worked with two different construction departments
within the DOT to obtain the necessary access points to divide
the property. We had an excellent sale, with the property
averaging $30,000 per acre. Mr. Bill McGowan can be reached at
(770) 424-7722 and he would be a good source to contact as a
reference.
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Sale Price - $1,300,000
Billy Wolfe Sale
One of my classmates from UGA
told me about this property. His father was retiring and he
wanted to sell this gorgeous tract. It was loaded with Sugar
Creek Frontage and nice paved road frontage. We sold a majority
of the property to a developer out of Canton, GA and the balance
to 4 end users.
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Sale Price - $551,000
Sunset Land Co - Anniston, AL
This property was owned by the
Sunset Land Co. which was established in the 1920’s. Our buyer
was a large developer out of the Metro Atlanta area.
Phillip Ledbetter of Sunset Land
Co. and Anniston Land Co. was our main contact for the sellers.
If you would like a reference, I would encourage you to give him
a call 256-236-7001.
News Article
in the Anniston Newspaper regarding the Sale
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Sale Price - $1,217,000
The Henry Miller Trust
At this sale, Tony Ellis purchased a 296 acre tract off Stedman
Road. Mr. Eillis had sold a large tract of land to the county
that is being used for the new Honda plant and he used a portion
of the proceeds in the form of a tax-free exchange to purchase
the Miller Trusts property. This property was landlocked and
the timber had been sold and about 2/3 or the timber had already
been cut. The 296 acre tract brought $1,870 per acre and was
sold by the method of pick and choice by the acre against a
similar tract in Polk Co.
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Sale Price - $402,000
The Smith Estate
This property had a lot of flood plain. We
were able to divide the property into tracts and we had five
purchasers. Two family members purchased property at this
sale. It was similar to the Hulsey estate in the good feelings
it led to with the settling of the estate. The executors were
feeling some pressure and they simply turned the complication of
liquidating the real estate over to us and let everyone bid
against the market.
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Sale Price - $1,605,000
The Hulsey Estate
This tract is located just of Hwy 278.
This was a very complicated estate that had been in litigation
for over 6 years. Mike McCrae of Smith, Shaw & Maddox in
Cedartown was the lead attorney and he was able to pull the
ownership together for an auction. The sale results doubled our
expectations. Due to a bidding war between an adjoining
property owner and one of the heirs, the first tract sold for
over $60,000 per acre. On the next round of bidding, a group of
buyer’s got together and took the remaining 12 tracts at $14,300
per acre. This sale is an example of the best case results of
an auction. It had all the ingredients for success and the
bidding took care of itself.
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