Auction Information
Online Bidding SiteExcellent Investment Opportunity
Here is your prime opportunity be a part of the major growth of the Huntsville and surrounding area. This motel, formerly operating as a Budget Inn, offers a unique opportunity in Fayetteville, Tennessee. The property contains a 16 room motel and a stand alone commercial building. The 2± acre property has 200± feet of highway frontage and sees 12,000± cars/day. There is also a pond on the property. Located just across the Alabama/Tennessee line, this would be a great for either redevelopment of land or continuation of the motel. The property is convenient to both Fayetteville Municipal Airport and Huntsville International Airport. The possibilities are endless for this property.
Terms & Conditions
Online bidders must contact W. Todd Hess at 256-541-2964 within a minimum of 24 hours prior to the auction to complete registration for bidding online. No exceptions! A bank Letter of Guarantee i...
Online bidders must contact W. Todd Hess at 256-541-2964 within a minimum of 24 hours prior to the auction to complete registration for bidding online. No exceptions! A bank Letter of Guarantee in the amount of 10% of the minimum bid price may be required to complete registration.
A 10% Buyers Premium to be added to the final bid to determine the contract price on the Real Estate.
All property is sold “AS IS, WHERE IS”. Cole Auction works strictly as an agent for the seller.
10% down day of the sale, balance to be paid in 30 days or less.
Property is selling subject to all restrictions, easements and rights-of-ways.
Seller to pay prorated taxes and provide clear deed and title.
Purchaser to pay all of their own closing costs.
All decisions of the Auctioneer are final in case of bidding disputes.
Seller reserves the right to deny or expel anyone who attempts to disrupt the sale.
Property is to be considered to be sold under reserve unless otherwise specified. Cole Auction does not disclose the reserve price prior to the live auction.
Seller reserves the right to accept a winning bid prior to the live auction.
Property maps, surveys, inspections, etc. are for reference and sale purposes only. Neither the Auction Company nor the seller guarantees any of the information given.
It is the responsibility of the buyer to verify all specifications and conditions of the property.
No warranties or guarantees are being made as to condition, age or value prior to sale date.
No contingencies shall apply to the sale of the property, including a buyer receiving financing.
Buyers & Sellers and/or their agents may bid at the live auction, online, or by phone. Employees of Cole Auction may bid on behalf of others up to and including online bids, phone bids, absentee bids, and prebids.
All information that is being given is believed to be correct and reliable but is not guaranteed by the Auction Company.
Announcements made day of the sale take precedence over any written material.
Cole Auction will pay outside brokerage 2% of net commission. Sales price minus concessions (i.e., expenses and/or commission reductions). Agents must register with Beau Cole prior to auction. NO EXCEPTIONS! Agents and/or their clients must participate in the live ON-SITE auction to qualify for the payment.
Payment (Real Estate)
Cole Auction does not accept credit cards for real estate purchases.
10% Premium due within 24 hours after close of auction. Contact Beau Cole at 256-837-0701 for wiring instructions. Remaining balance due upon closing. $25 fee for wire transfers is waived for real estate purchases.
Purchaser has 30 days to close, but time to close may be extended on a case-by-case basis.
Purchaser pays their own closing costs, but has the right to choose the closing attorney or title agent.
License Information:
Cole Properties & Auction, Inc.
AL #120
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About Beau Cole
Leading North Alabama and South Tennessee in farms, land, residential, estates and commercial property auctions since 1960. We are a family owned and founded business in Huntsville, Alabama. Our success rate is second to none due to our experience and aggressive mass marketing that is tailored for each individual property. Our team of full time professionals include members that have specialized in each classification of real estate in addition our staff includes a full time marketing director, coordinating all marketing to assure we reach your potential buyers and conclude with a successful sale. Please call or email us for information and to setup a consultation regarding your needs.Beau ColeA native of Huntsville, Beau received a Bachelors Degree in Commerce & Business Administration from the University of Alabama. He is a third generation Auctioneer and Owner of Cole Auction, which was founded in 1960. He is licensed as a REALTOR and an Auctioneer in Alabama and Tennessee, and has over 30 years of real estate experience.W.Todd HessTodd graduated from the University of North Alabama in 1991 with degrees in Marketing and Computer Information Systems. After retiring from the IT field in 2005, Todd obtained his real estate license. Todd is currently an Auctioneer and Associate Broker who specializes in commercial and residential investments.