The Georgia real estate auction started on time at 10:00 a.m. Certified auctioneer and broker Myers Jackson read the terms and conditions. Jackson explained the order of sale. The 96 acres of Tifton GA real estate were offered with high bidders' choice, reserving the right to sell in combinations or to sell the 96-acre parcel in its entirety.
Three parcels were offered at high bidders' choice. The first tract brought $2100 per acre. Bidder 1224 chose tract number 2. Tract 2 was posted on the board and the auction continued into round two. At the end of round two, the high bid was $1,650 per acre. Bidder number 1224 was the high bidder once again.
Tract number 3 was offered last. An opening internet bid of $100. Bids quickly advanced to $1300 per acre. In the combination round, this finalized all the individual tract purchases and the auction entered into the second phase. Continuing with combination bidding, bidder 1222 requested a combination on tracts 1 and 2. Tracts 1 and 2 are the cultivatable Georgia farmland parcels.
There were no more combinations. However, the high bidder requested a combo of the whole tract. Bidding ended on the farm as a whole including the buyers' premium at $2230 an acre. With no further advance and no bidders on the individual tracts asked to defend their bids, the auctioneer declared the sale posted, selling as a whole to one buyer.
The seller accepted the final price and contracts were executed. The transaction is due to close mid November 2010.
Located in the southern portion of the state, Tift County is home to over 40,000 residents with a median age of 33. It includes a total area of 269 square miles. The median family income is approximately $40,000.
A growing number of sellers today consider land auctions to achieve their goals. Our successful real estate auctions engage online and high-tech marketing techniques to advertise and market to reach a wide circle of buyers. For a free property evaluation and land analysis, call Myers Jackson, Broker/Auctioneer at United Country Certified Real Estate at 800-711-9175.
Click here for a map of Tift Co GA homes for Sale
* Listings below are listed as for sale properties in the multiple listing service and are not for sale at Auction, however call a Broker/Agent and make an offer on the property of your choice.
