Georgia Real Estate Auction: Colquitt Co. Ga.

By Myers Jackson

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Georgia Land Auction Results
Who: Myers Jackson ***image6url***
What; 69 acres of Georgia Land

Georgia land auctioneers Myers Jackson Tommy Rowell Ronnie Reagin

When: Friday, July 15th 2007
Where: Moultrie, Colquitt County, Georgia
Why: Estate Settlement/ Real Estate Auction

In an agreement between the heirs of the Paul Murphy Estate and Myers Jackson broker and auctioneer located in Moultrie Georgia, the estate property was successfully sold at public auction. The details of the Real Estate Auction followed proven strategy in a high bidder�s choice method style of bidding. Offered at public auction was 69 acres of quality Georgia farm land which was presented to a well qualified group of purchasers. With almost 100 hundred people in attendance and 27 registered bidders, Myers Jackson, Auctioneer, read terms and conditions aloud. The organist played one minute of music and the auction was on.
Tract number 10 which included the old Georgia style farm house and 10 acres was offered total dollars with the bidding coming in at rapid fire and with the conclusion of the first round tract 10 was posted at 199,000.00 dollars. The high bidder signed the bid acknowledgement with the understanding they could be out bid in a combination of other tracts. The bid was posted. All bid were subject to a buyers premium as stated in all terms and conditions of the land auction
The second round of bidding was open to high bidder�s choice and the land was offered by the acre. The high bidder had the opportunity to choose as many tracts as they wanted or simply could take just one tract with no particular order. The Auctioneer started taking bids as bid assistants and Auctioneers, Myers Jackson and Randy Adams worked the outer edges of the tent which had standing room only. Ronnie Reagin and David Hart took bids from the right side. Mr. Hank Deloney got right down to business with the opening bid 3000, 4000, 5000 the 6000, now 6500. The hammer fell at 6500 dollars per acre. Being subject to combination and seller confirmation. Ronnie Reagin writing the bid acknowledgement and confirming the purchaser choose to take tracts 3, 4 and 5 for a total of 116,000.00 dollars.
Third round yielded a high bid of 116250.00 and the high bidder took tracts 1 and 7. The following rounds saw bidders taking tracts 2 and 6 for 67575.00 and tracts 8 and 9 for 620010.00. This concluded the tract purchases and the Auction of this 69 acre tract of Georgia Land and the auction was open was open to the registered bidder for combinations.
The first combination round resulted in one bidder choosing to take tracts 1 through 7 and after a five percent raise to accommodate a sufficient amount to out bid the tract bidders the auction was opened to the floor for bidding once more. At the end of this bidding cycle the high bid on tracts 1-7 was 315393.73 dollars.
The next combination was tracts 8, 9 and 10. With a successful raise the bidding was again open and on with bid assistants working diligently with any purchaser who wanted to raise the bids. The final high bid on combination 8, 9 and 10 was 274060.50 dollars.
The last and final combination was for the whole farm and home.
Not since the early 1900�s had this land been sold and after two hours of intense bidding the results were coming down to just one purchaser. The combination was placed and tracts 1-10 were offered to any purchaser wishing to raise the combination bidder. There was no movement from any where under the tent, all bid assistant rose to the call of the auctioneer asking for top dollar and with no further advance the sale was closed to bidding and the sellers confirmed saying they would sale this Georgia land and farm to include the house and other improvements for 618,926.96 plus a buyers� premium and closing cost.
Once again on a sunny Friday morning in South Georgia land traded hands in the view of a public Real Estate Auction. Sellers and the buyer signed contracts and have since closed.

Georgia Land Auction Colquitt County Georgia

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