The Fox Club Golf & Country Club

Details

The Fox Club is For Sale ONLY at ABSOLUTE AUCTION Sealed Bid / Hybrid format.

Don't miss this unique opportunity to own Martin County's PREMIER Golf & County Club at Absolute Auction!

• Private 18 Hole Golf Course
• Situated on 300+/- Acres with Pine Tree Lines Fairways, Deep Bunkers, and Elevated Greens
• 13,500 Sq. Ft. Clubhouse with Bar & Grill, Lounge, Pro Shop, and Locker Rooms
• Memberships Currently Offered: Single, Family, and Social/li>

Question - What is a sealed bid “hybrid auction”?

Answer - A hybrid auction is a combination of a sealed bid auction followed up immediately with an open outcry auction. A hybrid auction combines the best of both auction methods.

Selling to the HIGHEST BIDDER!

Location

Terms

This auction is going to be conducted live onsite with internet bidding available during the live auction. If you are attending the auction onsite you do not need to register online but please contact our office for those terms and conditions specific to attending the live onsite auction as they vary slightly.

Question - What is a sealed bid “hybrid auction”?

Answer - A hybrid auction is a combination of a sealed bid auction followed up immediately with an open outcry auction. A hybrid auction combines the best of both auction methods.


TERMS AND CONDITIONS For Bidding Online

1. The auction is open to everyone to register. In order to register please follow the online instructions for seller pre-approval. To bid on our property you must be of legal age to enter into a contract to purchase real estate.
2. In order to be approved to bid a $100,000 deposit along with the sealed bid form must be received by the auction company prior to the auction. The deposit can be wired, hand delivered or express mailed to our office in the form of a cashier's check (made payable to Elliot Paul & Company).  Should you not be the high bidder the deposit will be promptly returned to you.
3. The auction will be conducted at The Fox Club clubhouse. Registration begins at 12:00 noon and the auction commences at 1:00 pm.
4. The sealed bids will be opened in private by the sellers immediately after 12:00 noon. Upon the opening of the sealed bids, the sellers will exercise one of two (2) options: 1) the auctioneer may announce the winning bidder without further bidding opportunity by the registered bidders. In this event, the winning bidder will immediately execute the Purchase Agreement and deposit the requisite ten (10%) percent of the total purchase price; or 2) the auctioneer will announce the names of the top three (3) bidders. Those three (3) bidders will be allowed to participate in an open outcry auction. The open outcry auction portion of this sale will take place immediately after the announcement of the top three (3) bidders; therefore, those bidders and/or their authorized representatives must be present or previously registered online to bid. The bidding will start at the highest sealed bid amount and will continue until all bids are made and taken. Upon confirmation of the last bid made and taken, the high bidder shall immediately execute the Purchase Agreement and deposit the requisite ten percent (10%) deposit with Elliot Paul & Company Auctions as escrow agent. Please come prepared to participate in the auction.
5. Sealed bids and open outcry bids may not be retracted once accepted by the auctioneer. All deposits shall be paid on the day of sale. The successful bidder agrees to sign the Purchase Agreement immediately following the auction. The Purchase Agreement is available for inspection and review. The terms are not negotiable upon being declared the winning bidder.  Upon being declared the top bidder, the already received deposit will be applied as a partial deposit and the deposit must be increased to ten percent (10%) of the total contract price (which is the high bid price plus the buyer’s premium) of the property due immediately upon signing the contract in escrow no later than 24 hours after the end of the auction. The deposit can be wired, hand delivered or express mailed to our office.
6. The purchase contract is available for inspection and review. The terms are not negotiable upon being declared the winning bidder.
7. The closing will take place at the office of the closing agent designated by the seller.
8. The bidding will be open and everyone will have access to the bid history during the auction.
9. The high bidder will be notified immediately at the conclusion of the auction.
10. All bidders are encouraged to personally inspect the real estate being offered. The property will be sold in "AS-IS" condition. The buyer will be responsible for all closing costs including, but not limited to documentary stamps, title insurance and all other closing costs. Real estate taxes for 2019 shall be the responsibility of the buyer. No representation is made with respect to suitability for any intended purpose or use. Please inspect the property and records prior to making any bids.
11. The auctioneer's decisions relative to bidding increments, order of sale and any disputes between bidders will be final. Elliot Paul & Company shall have the right to cancel or withdraw the property at its sole discretion.
12. Please be advised that the auctioneer shall offer the property sold to the highest bidder regardless of price. Neither the seller nor his representatives are allowed to bid.

13. Broker participation is invited and any licensed real estate broker is eligible to earn commission equal to twenty percent (20%) of the net commission provided their client has been registered with the office of the auctioneer.
    1. a) The prospect must be registered in writing with Elliot Paul & Company and countersigned by the broker/salesperson. The registration must be received 24 hours prior to the auction by email.
    2. b) Broker/Salesperson acting as principals are excluded from receiving commissions.
    3. c) Broker/Salesperson must be procuring cause.
    4. d) Commission will be paid at the successful closing of each transaction
14. The method and order of sale shall be at the sole discretion of the auctioneer. The auctioneer may change or modify the Terms and Conditions of this auction by updating online material or announcement at the podium. Any such change shall take precedence over previously printed material or oral statements made. Bids will be accepted only from bidders that have duly registered in accordance with the terms and conditions of sale. Bidders arriving at the auction site without the required deposit may not be permitted to participate in the auction. The auctioneer’s decisions relative to bidding increments, order of sale and any disputes between bidders will be final.
15. Bids will be accepted only from bidders that have duly registered and have been approved in accordance with the terms and conditions of sale.
16. A ten percent (10%) buyers premium will be added to the high bid made and taken and included in the total contract price.
17. The purchase contract provides for payment of the balance of the total purchase price be made no later than May 22, 2019. TIME IS OF THE ESSENCE.
18. As required by Florida Statute 475, which regulates the sale of real estate in Florida, Elliot Paul & Company represents the seller in this transaction.
19. All information contained in the auction brochure, online advertising, bidder information or supplied either in writing or verbally by staff members was derived from sources believed to be reliable, but not guaranteed. Buyers shall rely on their own information, judgment and inspection of the property and records.
20. Bidders are encouraged to inspect the property. Contact the auction company for dates and times.
21. Please be advised that this auction will be audio recorded to provide a permanent record of this auction event.
22. A Bidder Information Package that includes the sealed bid form along with additional information is available to bidders upon request. Please contact the auction company.