Whited Lake Farm A 583± Acre Legacy Property in Oneonta, Alabama...SOLD

Details

SOLD via Online Auction

Whited Lake Farm

583± Acres with 30± Acre Private Spring-Fed Lake

A North Alabama Legacy Property

Thursday, November 16th at 11:00 am CT

Please Review Posted Documents - Check Back for Updates

**ALL BID PRICES ARE ON A PER ACRE BASIS. YOUR BID AMOUNT WILL BE MULTIPLIED BY 583 (THE NUMBER OF ACRES±). THIS TOTAL WILL BE YOUR BID PRICE.** 

56670 Highway 231, Oneonta, Blount County, AL 35121

Target Auction Company is excited to present an extraordinary opportunity to acquire a vast and contiguous tract of land nestled in the picturesque region of North Alabama. The property remains conveniently close to both Huntsville and Birmingham, both of which are within an hour drive.

With its unparalleled features and breathtaking views, this land offers a unique blend of tranquility, accessibility, and privacy. A picturesque 30± acre spring-fed, private lake graces the property, with depths of up to 24± feet and 1.7± miles of shoreline. This stunning water feature offers fishing, boating, and serene waterfront views. Ridgetop and lakeside cabins would be excellent for this setting. The property's diverse landscape, abundant wildlife, and well-maintained trails create an atmosphere reminiscent of a state park, ensuring endless recreational opportunities.

A 3-bedroom home and 2nd living unit on the property provide options for potential rental income or property manager’s facilities. This contiguous tract enjoys frontage on three roads, making it easily accessible from Hwy 231, Ebell Road, and Palisades Parkway and provides high development potential. Approximately 40 acres of cleared pastureland provide space for livestock, agriculture, or further development.

Indeed, the possibilities are vast, and the property's unique combination of features makes it an attractive canvas for a wide range of creative and profitable ventures. It's a rare opportunity to shape this land into a destination that fulfills your vision as well as meet the need of certain communities.

• RV Campground: This exceptional tract of land is a golden opportunity for entrepreneurs and outdoor enthusiasts alike. This land offers a great canvas for your vision of an RV campground. With its natural beauty, convenient location, and recreational potential, this land is a dream come true for those seeking to establish a thriving campground business or a private getaway.
• Agritourism: Combine the pastureland with agricultural endeavors, such as organic farming, orchards, or vineyards, and create an agritourism destination. Visitors could experience farm-to-table dining and farm activities.
• Equestrian Center: Given the miles of trails and open pastureland, the property could be transformed into an equestrian center. Horse lovers could enjoy riding lessons, boarding facilities, and trail riding in a beautiful natural setting.
• Camping and Glamping: Expand the camping options to include glamping accommodations like ridgetop or lakeside cabins, yurts, and treehouses. This can attract a wider range of outdoor enthusiasts seeking comfort in nature.
• Wedding and Event Venue: The stunning views and diverse landscape provide an idyllic backdrop for weddings, special events, and corporate gatherings. This could be a lucrative venture for those interested in event planning.
• Residential Development: With its ample size and road frontage on multiple roads, the property could be subdivided for residential development. This would allow for the creation of a charming rural community, complete with homes nestled within the lush forests or overlooking the picturesque lake.

In summary, this vast tract of land in North Alabama is a rare gem, offering a harmonious blend of natural beauty, privacy, and versatility. Whether you envision it as your private retreat, a business venture, or a family legacy, this land is a canvas upon which you can paint your dreams and aspirations. Don't miss this incredible chance to own a piece of Alabama's scenic beauty and endless possibilities.

Please See Documents Tab and Review Information - Check Back for Updates.

Have Questions? Email or Call 800-476-3939.

AUCTION INFORMATION

Auction: Online bidding begins November 6th and concludes Thursday, November 16th at 11:00 am CT. 

Bidding: ALL BID PRICES ARE ON A PER ACRE BASIS. YOUR BID AMOUNT WILL BE MULTIPLIED BY 583 (THE NUMBER OF ACRES±). THIS TOTAL WILL BE YOUR BID PRICE.

Buyer’s Premium: A 10% Buyer’s Premium will be added to the final bid to determine the Total Contract Price paid by the Purchaser.

Terms of Sale: A contingency-free contract will be executed by purchaser immediately following the auction. The purchase terms are a 10% non-refundable deposit due by 4:00 pm CT the following day with the remaining balance due within 30 days.

Buyer Agent Compensation:  A 2% commission is available for representing the purchaser. See the Broker Compensation Form under this property's Documents tab.

Property Tours: November 1 (Wed), 8 (Wed), 11 (Sat), and 15 (Wed) from 10:00 am until 2:00 pm CT. Please call 800-476-3939 to schedule your appointment.

Target Auction Company is a premier marketing firm with proven ability to provide certainty when selling valuable real estate throughout the U.S. using our streamlined process. We highly recommend our platform for your selling and buying needs.

Dewey Jacobs, ALAU #5060

DISCLAIMER: Target Auction and Land Co., Inc. assumes no liability for errors or omissions in this listing. Although information has been obtained from sources deemed reliable, the auctioneer makes no warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained. It is for this reason that the buyer’s and buyer’s agents should avail themselves of the opportunity to make a thorough inspection and verify all specifications prior to sale. All properties offered for sale in “AS IS” condition. This includes both personal property (if applicable) and real property. All sales are final. This listing may be modified or withdrawn at the seller’s discretion without notice at any time prior to or during the sale; property may be sold prior to Auction.  All properties are being sold subject to confirmation unless otherwise indicated. Seller may reserve the right to deny admittance or to remove anyone at this auction that may disrupt this sale in any way. All statements made at the auction shall take precedence over all printed materials. The auctioneer shall not be responsible or liable in any way if the seller fails to honor any bid or refuses to close or cannot close title in accordance with the winning bid(s) or any sales contract; or if the property is contaminated with any type of hazardous waste or requires any repairs. It is the purchaser’s responsibility to inspect all properties prior to bidding to verify all his/her specifications. Agency Disclosure: Target Auction & Land Co., Inc. and its agents represent the seller only. Target Auction & Land Co., Inc. is the selling agent only.

Bidding Terms

REAL ESTATE ONLINE BIDDING TERMS

To bid, you must be of legal age to enter into a contract to purchase real estate (18 in most states, 21 in others). If you are in doubt about the legal age to enter a contract in your state, please consult with competent legal counsel before bidding. All bids are placed in US DOLLARS.

PLEASE READ THESE REAL ESTATE ONLINE BIDDING TERMS AND THE SPECIFIC TERMS AND CONDITIONS OF SALE THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. THE PROPERTY SPECIFIC TERMS AND CONDITIONS OF SALE IS LOCATED ON THE DOCUMENTS TAB OF THE PROPERTY’S AUCTION PAGE. IF YOU HAVE NOT READ AND REVIEWED THESE, DO NOT BID.      

BIDDER ACKNOWLEDGEMENT

1. All bids shall be deemed pending unless and until duly accepted by the auctioneer.
2. If there is more than one high bid at the same level (a tie bid), the bid first submitted will be honored.
3. All bids are accepted at the sole discretion of the auctioneer.  The winning bidder is deemed the bidder that places the bid that is accepted by the auctioneer.
4. All decisions of the auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction.  Auctioneer reserves the right to deny any person to participate in the auction or expel anyone from the auction who attempts to disrupt the auction. The auctioneer reserves the right to sell the property in any manner so desired. Individual purchases are to be considered as singular and are not contingent upon the sale of any other properties.
5. All announcements made prior to the conclusion of the auction supersede any prior oral or written statements. On behalf of the seller, the auction company may, at its discretion, change or modify any part of the sales contract or terms and conditions of sale at any time prior to execution of sales contract without further notice to any bidder/purchaser.
6. The auctioneer has the sole and absolute discretion to advance the bidding on behalf of the seller, including the discretion to reject any bid which the auctioneer believes, does not advance the auction and/or is injurious to the auction. Bids that may be rejected include without limitation bids that appear to the auctioneer to be nominal, suspicious and/or suspect.
7. The seller reserves the right to add, delete or sell all or a portion of the property prior to auction. This auction listing may be modified, withdrawn, or postponed at the seller’s discretion, for any reason, without notice to any bidder/purchaser at any time prior to or during the sale.
8. Neither the company providing the software, nor the auction company or seller shall be held responsible for a missed bid or the failure of the software to function properly for any reason, including but not limited to any internet connection failures.
9. All registration information the bidder provides shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidder accounts/number and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify auction company if they believe that their bidder account/number and password have been compromised.
10. All properties will be selling subject to seller approval unless otherwise stated.
11. By using the “App” or registering to bid, you agree to all the terms and conditions and expressly acknowledge and affirm that you have read and are familiar with the Online Bidding Terms, Terms and Conditions of Sale as well as all the disclaimers, conditions and all other related documents set forth in regard to the auction, property, and method of bidding.
12. By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the property being auctioned.  Your bid (i.e., offer) may be accepted by the auctioneer, in which case a legally binding agreement will be in place between you and the auction company.
13. The MaxBid function on the online bidding platform is private; however, it can be seen by the auctioneer.
14. All documents will be in English. If an interpreter or translator is deemed necessary to translate any documents or information, it is the Purchaser’s sole responsibility.
15. All transactions and currency will be in U.S. dollars.

BUYER’S PREMIUM 

A buyer’s premium will be added to the high bid price to determine the total contract price.

TERMS OF SALE 

1. A contingency-free contract must be executed by the purchaser immediately following the auction ending.
2. The purchaser will deposit a non-refundable ten percent (10%) down payment of the total contract price in the form of a cashier's check or wire transfer with the remaining balance due at closing within 30 days as disclosed on the property's auction page and defined in the Terms and Conditions of Sale.
3. Contract packages will be sent by email to the purchaser at the conclusion of the auction. The purchaser must execute and either fax, email, or hand-deliver the package back to auction company on auction day.

ONLINE AUCTION REGISTRATION 

1. Bidders are required to register to place bids by submitting a valid credit card. There is no charge to your credit card to register to bid. Real estate cannot be purchased using a credit card.
2. Should the auction company require a registration amount in order to place bids on a property, this information (including the required amount and specific directions) will be disclosed on the property's auction page and defined in the Terms and Conditions of Sale. Should you not be the purchaser, your registration amount (minus any wire transfer fee) will be promptly returned. The registration amount, if required, will be applied toward the down payment.
3. Bidder must be approved by auction company.

WIRE TRANSFERS

A service fee will apply to all payments made via wire transfer. For wire transfer instructions, please email auctioninfo@targetauction.com.

DEFAULT 

1. It is agreed by all parties that in the event the Purchaser fails to close and pay the balance when due, Seller and Auction Company reserve all rights allowed by law and the Sales Contract, including a suit for damages, specific performance or cancellation of the transaction, with the Seller to retain the down payment. In the event of any breach of the terms of this agreement by Purchaser, the Seller will declare the Purchaser in default and Purchaser agrees that the escrow agent is expressly authorized and instructed to disburse the down payment without the requirement of any further approval or agreement from the Seller or Purchaser. Any action taken after Purchaser’s default shall be solely at the Seller’s option with all costs incurred by Seller being paid by the Purchaser. If any legal action is required to enforce this agreement, or to collect any fees or costs earned or advanced pursuant thereto, the Seller or Auction Company shall be entitled to recover any and all costs of such action, including, but not limited to, the expenses and court costs of the action and a reasonable attorney’s fee.
2. Closing/escrow agent shall disburse the Purchaser’s down payment to the Seller and Target Auction Company after the receipt of Seller’s written certification that the Purchaser’s Sales Contract has been terminated by reason of said Purchaser’s failure to cure a default in performance of Purchaser’s obligations herein. Closing/escrow agent may act in reliance upon any writing, instrument, or signature which it, in good faith, believes to be genuine, may assume the validity and accuracy of any statements or assertions contained in such writing or instrument and may assume that any person purporting to give any writing, notice, advice or instruction in connection with the provisions hereof has been duly authorized to do so. Closing/escrow agent shall not be liable in any manner for the sufficiency or correctness as to form, manner of execution, or validity of any written instructions delivered to it, nor as to the identity, authority, or rights of any person executing the same. The duties of closing/escrow agent shall be limited to the safekeeping of the down payment and the disbursement of same in accordance with the written instructions described above. Closing/escrow agent undertakes to perform only such duties as are expressly set forth hereto, and no implied duties or obligations shall be read into this agreement against closing/escrow agent.

EQUAL OPPORTUNITY CLAUSE 

All bidding is open to the public.  The property is available to bidders/purchasers without regard to race, color, religion, sex familial status, national origin, or physical handicap.

BIDDER VERIFICATION 

The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, auction company reserves the right reject the registration and bidding activity is subject to termination.

POWER OF ATTORNEY

Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired, Power of Attorney approved by auctioneer before the being approved to place bids.

AUCTION END TIMES 

1. All online auctions are subject to extended bidding due to bidding activity.  Auction company reserves the right to adjust the auto extension time period or end the auction at any time.
2. If you are outbid by another bidder, you will receive an email notice (unless bidder chose to have these disabled during registration).
3. As the auction nears the ending time it will auto-extend until bidding is silent for a minimum of 2 minutes.
4. The high bidder will be notified via email after the auction ends.

TIME SHALL BE OF THE ESSENCE.

PROPERTY INFORMATION, INSPECTION and DISCLAIMER 

1. The property is selling “AS IS, WHERE IS WITH ALL FAULTS” subject to, and any CONTRACT IS NOT CONTINGENT upon: any state of facts an accurate survey or personal inspection of the property may reveal, any existing or proposed rights-of-way, restrictive or protective covenants, easements, encroachments, rights or claims of parties in possession, zoning, building codes, permits, governmental agencies regulations, environmental conditions, wetlands, riparian, or littoral rights, flood zones, subdivision and HOA regulations, water rights or water access, mineral rights or reservations, leases or tenancies, suitability, merchantability, marketability, operability, tenant ability, habitability, income, soil condition, sink holes or percolation, safety and health codes, or fitness for a particular use or purpose, and subject to all title exceptions as set forth in the Title Commitment. No guarantees are given as to the availability of utilities or the permitted or allowable uses on the property. The seller or auction company have not made, do not make, and will not make, and hereby disclaim any representation or warranty, whether expressed or implied or statutory, whether oral or written, with respect to the property. Bidders are advised to independently verify all information deemed important. The bidder agrees all due diligence related to the property and its purchase will be completed and buyer will be satisfied with the results prior to placing a bid.
2. It is the bidder’s sole responsibility to 1) review all property information; 2) independently verify any information deemed important including, but not limited to, information available in public records; and 3) inquire of public officials as to the applicability of and compliance with land use laws, health, sanitary, safety and fire codes, any environmental laws and regulations, and any other local, state or federal laws and regulations.
3. All information contained in any and all promotional materials was provided by the seller and is believed to be correct; however, neither the seller nor the auction company makes any guarantee or warranty as to the accuracy or completeness of such information.  Neither the seller nor the auctioneer is required to update any information.
4. Neither the seller, its attorneys, any broker, nor the auction company shall be liable for any relief including damages, rescission, reformation, allowance or adjustments based on the failure of the property, including, but not limited to, amount of square feet, acreage, dimensions, maps, taxes, income, etc. or to conform to any specific standard or expectation, or any third-party documents or information.
5. Any work performed by a potential bidder or on behalf of a potential bidder is solely at the expense and responsibility of the potential bidder.

CONFLICT OF PROVISIONS

In the event of a conflict with the Online Bidding Terms and the property specific Terms and Conditions of Sale that is located on the documents tab of the property’s auction page, the Terms and Conditions of Sale shall control the provision in conflict.

2/26/2022