Global Edition

 

US golf course for auction without reserve

8.57am 28th April 2008 - Property

Located in Sparta, Tennessee, just one hour from Nashville, the RiverWatch Golf Club along with 189 acres of residential land will be auctioned to the highest bidder on May 6, 2008. Encompassing 6,850 yards of lush tree lined fairways and plateaus, this 18-hole championship course is challenging yet welcoming to golfers of all levels.

Completed in 2004, the scenic course sits on Center Hill Lake and offers patrons a state of the art portable GPS system that can be removed from carts and positioned anywhere on the course. Other assets to be auctioned with the RiverWatch Golf Club include: golf villas (2 buildings/6 unfinished units each) covering four acres, a seven acre clubhouse site, a pro shop and restaurant. The 189 acres of residential land being auctioned with the club consist of development pods.

“With the country’s commercial and residential real estate markets together seeing historic price declines, now is the time to buy real estate,” said Hilda Allen, president, Hilda W. Allen Real Estate, Inc. “Real estate auctions are great buying opportunities because bidders set the price for a property, allowing its true market value to emerge.”

The auction of the RiverWatch Golf Club is absolute, which means there are no minimum starting bids or reserve high dollar bids for this property. Hilda Allen of Hilda W. Allen Real Estate Inc., will auction the property to the highest bidder, regardless of price on May 6 at 11:00am at 125 Harbour Greens Place in Sparta, TN.

A three-story, 9,667 square foot home located in the RiverWatch community will be auctioned immediately following the golf course auction. Stone Ridge House is not part of the golf course auction. The auction of the house is a reserve auction, meaning the seller has the right to accept or reject any offer.

Previously listed at $1.3 million and custom built in 2000, Stone Ridge is a luxury lake-view retreat. With eight bedrooms and baths, the home also boasts a gourmet kitchen, oversized wood burning fireplace, open decks and glassed in formal dining area.

Both the RiverWatch Golf Club plus assets and the Stone Ridge House are being sold “as-is, where-is,” and both properties may be previewed on April 29, 2008 from 12:00am-2:00pm.

Interested buyers must register to bid the day of the auction and be prepared to make a deposit of 20% of the total sales price, of which $10,000 must be in the form of a cashier’s check. Buyers are also required to bring a bank letter of credit guaranteeing funds and ability to close within 30 days. For complete auction details, prospective buyers should visit www.hilda-allen.com.

Located in Adel, Georgia and founded in 1978, Hilda W. Allen Real Estate Inc. specializes in the brokerage of golf courses, hotels, marinas, resorts and related commercial properties throughout the United States. A licensed real estate broker, Hilda Allen has successfully closed over 350 golf courses totalling over $825 million dollars in sales.

Hilda W. Allen Real Estate, Inc. www.hilda-allen.com

       

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