Promissory Note Bearing a 5% Interest Rate Per Annum Secured by Real Property in the Original Principal Amount of $95,000.00 !

Description

Item Id: Guiness01
Case Name: Guiness, Steven & Ronna L
Case Number: 10 85943
Trustee:
Starting Minimum Bid: $27,500

Description: Estate’s 100% interest in a Secured Promissory Note bearing a 5.00% interest rate per annum. Further information about the note:

One (1) promissory note secured by one (1) parcel of land located near Canton, Cherokee County, Georgia. The note originated in March 2010 and the entire balance is due and payable on or by April 2035. Payments on the Note have been fairly consistent but are currently 5-6 months in arrears.

As of December 2017, the balance remaining to be paid on the Note will be $77,158.44 plus any arrearages.

The Note requires monthly payments in the amount of $555.36 with all unpaid interest principal and accrued interest due and payable on or before 4/1/2035

The Estate has been receiving principal and interest payments since the filing to benefit creditors. The Trustee has been servicing the Note

Location Info The parcel is located in near Canton in Cherokee County, Georgia. Parcel number/Map Number is:

22N10 027 A

The property is located at 4445 Fincher Road, Canton, GA 30114. We believe the property to be owner occupied.

Past and current payments from the Note have been made directly to the Bankruptcy Estate. Once the promissory note is sold and after the highest bid amount has been paid by certified funds to BKassets.com, any future payments will be redirected to the new owner of the note. There shall be no claim by the buyer to any prior payments received by the Trustee in any circumstance.

Note: See Link Below
5-Note 2015_04_14_18_42_54 page 2, 3

Payout History / Amortization: See Link Below
1-Amortization 2015_04_14_18_20_03

Mortgage Payment Reconcilliation: See Link Below
2-ALT-Mortgage Payment Reconciliation

2-ALT-Mortgage Payment Reconciliation (002)

Security Deed: See Link Below
6-Security Deed 2015_04_14_18_31_09 pages 2-6

Notes: A closing cost fee of $225 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on bkassets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Title and Escrow: A title search was NOT performed on this property. BKAssets does not provide title insurance. If title insurance is desired, the buyer is responsible for obtaining it through a title company. The title company must comply with the terms of the sale as ordered by the court. Because this is a US Bankruptcy Court ordered, as is where is sale, Bkassets.com is not permitted to use an escrow company, or provide any warrantee or guarantee, implied or stated.

Legal Info: By Order of the United States Bankruptcy Court, BKAssets sells this and any other property “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this note after the sale including but not limited to: paying any fees/costs associated with this property, paying all fees/liens (if any), recording/transferring the note and gathering any paperwork/documentation necessary for that process. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment of the Promissory Note. All the information as to the item description has been provided by the trustee and debtor attorney indicated above. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Citibank, Wells Fargo, Bank of America, Chase or a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.
A closing cost fee of $225 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is free to all buyers in the United States. International bidders are welcome, please contact BKAssets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We do not know of any other liens