LENDER FORECLOSURE AUCTION: Seven Hills Auctions will be conducting a foreclosure auction of a gulf front motel and land in Biloxi, MS on October 10, 2024. This auction is conducted in conjunction with substituted trustee, J. Mark Franklin III (Substituted Trustee), pursuant to the Substitute Trustee’s Notice of Sale. The auction will be held in person at the Harrison County Courthouse (2^nd Judicial District), 730 Dr. Martain Luther King Jr. Boulevard, Biloxi, MS 39530, South Front Door of the Harrison County Courthouse (2^nd Judicial District) on October 10, 2024, beginning at approximately 11:00 A.M. CDT. Bidding in person is encouraged. Online bidding will be available, under the online bidder terms stated herein. Don't let this incredible opportunity pass you by. 

Terms and Conditions

October 10, 2024: Foreclosure Auction – Harrison County, MS (updated 10/7/2024)

The following Terms and Conditions apply to all properties offered in this auction. Seven Hills Auctions, LLC hereinafter “Auctioneer”, shall be construed to apply to all officers, principals, employees, agents and/or any other representatives hired or contracted with the Auctioneer. Anyone participating in the auction by registering for the auction, placing a bid or bidding on behalf of another person or entity with a Power of Attorney shall hereafter be referred to as a “Bidder”.

All Bidders are required at the time of registration to acknowledge that they have reviewed and accepted the Terms and Conditions. Additionally, by placing a bid the bidder specifically acknowledges and accepts the conditions stated in these Terms and Conditions and the Substitute Trustee’s Notice of Sale, attached hereto as Exhibit “A”.

Event Details: This auction is conducted in conjunction with substituted trustee, J. Mark Franklin III (Substituted Trustee), pursuant to the Substitute Trustee’s Notice of Sale, attached hereto as Exhibit “A”. The auction will be held in person at the Harrison County Courthouse (2^nd Judicial District), 730 Dr. Martain Luther King Jr. Boulevard, Biloxi, MS 39530, South Front Door of the Harrison County Courthouse (2^nd Judicial District) on October 10, 2024, beginning at approximately 11:00 A.M. CDT. Bidding in person is encouraged. Online bidding will be available, under the online bidder terms stated herein.

Agency:  The Auctioneer is acting as an exclusive agent for the Creditor and in accordance with the Substituted Trustee in this transaction. The Auctioneer does not represent the Bidder.

Due Diligence: All information provided by the Auctioneer is deemed to have been obtained from reliable sources; however, the Auctioneer makes no representations or warranties to its accuracy. It is the Bidder’s responsibility to conduct his/her own due diligence prior to placing a bid. All sales are on an “as-is”, “where-is” basis. The Auctioneer, Creditor, and Substituted Trustee make NO representation to title or condition of the property being sold. The property may be subject to leasehold interest or other rights or claims. It is recommended that any bidder consult with an attorney and conduct a title search.

No Access to Property Prior to Auction: There will be no physical access to the property prior to auction. Do not enter the property, disturb tenants or occupants. No trespassing on the property.

Payment In Full on the Day of Auction: The winning bidder at the conclusion of the auction, determined by the Substituted Trustee, must pay for the property in full immediately. Funds may be paid only by certified check or wire transfer. Any funds submitted to the Substituted Trustee by wire transfer must be received and confirmed by the Substitute Trustee no later than 2:30 P.M. CDT.

Winning Bidder: The winning bidder will receive a purchase receipt upon delivery of funds. A Trustee’s Deed will be executed, processed and mailed within 10 business days following the clearance of funds. Buyer assumes all responsibility, liability and cost of taking possession.

Broker Participation: Broker Participation is encouraged by the Auctioneer. A commission of 1% of the highest accepted bid will be paid to any qualified licensed real estate broker that holds a current and valid license in the state where the property is located. Commissions will be paid only upon clearance of funds. To qualify the broker must submit the Broker/Bidder Participation Form, by 3:00 P.M. eastern time on October 9, 2024. UNDER NO CIRCUMSTANCE WILL BROKER REGISTRATION BE ALLOWED ON THE DAY OF THE AUCTION.  A bidder is only allowed to be registered by one broker.

Buyer’s Premium: No buyer’s premium will be charged for this auction.

Online Bidder Deposit: Online bidders are required to register at 7Hauctions.com and submit a $10,000 bid deposit to the Auctioneer. Registrations and deposits must be received no later than 3:00 P.M. CDT on October 9, 2024.

Non-Compliance of Online Bidder: If an online bidder is the successful high bidder and fails to remit the full funds by 2:30 P.M. CDT by certified funds or wire transfer, the online bidder will be in non-compliance of the terms and condition of this auction. In the event of non-compliance by an online bidder, the participant’s bid deposit will be fully forfeited and non-refundable. This Non-Compliance Fee is a penalty for failing to abide by the Terms and Conditions of the auction. The Auctioneer and Substituted Trustee, upon Non-Compliance by a bidder, reserves the right to immediately offer the property for sale.

Technical Problems: The auction will be conducted using online bidding. Any technical problem that may arise from internet connectivity, hardware, software, human error, or any other such issue whether on behalf of the Bidder or Auctioneer may arise at any time without notice. In the event such technical problems arise, neither Auctioneer, Creditor or Substituted Trustee shall be responsible. Auctioneer, Creditor or Substituted Trustee reserves the right to proceed with the auction, briefly postpone and/or extend the bidding time in the event of such technical problems. Any actions the Auctioneer, Creditor or Substituted Trustee takes shall be final.

 Additional Terms: No warranty is expressed or implied as to the improvements, soil, environmental, wetlands, zoning or any other matters. The Auctioneer, Creditor or Substituted Trustee reserves the right to cancel the auction at any time without notice. In accordance with applicable laws, a credit bid may be submitted by or on behalf of the Creditor up to the amount of total indebtedness. Such a bid by the Creditor does not constitute a winning bid. Neither the Auctioneer, Creditor or Substituted Trustee will be responsible for any omissions or errors related to this auction, these terms and conditions, and/or the closing documents. All bidders shall carefully review, inspect, analyze and perform any necessary due diligence prior to bidding. Bidders shall make their own determination as to the accuracy of any due diligence or information provided by the Auctioneer, Creditor or Substituted Trustee. Announcements and communications by the Substituted Trustee on the day of auction shall take precedence over any prior written or communicated information. The auction may only be concluded, and a winning bidder determined by the Substituted Trustee. The Auctioneer is not responsible for any technical issues, missed bids or bids placed after the conclusion of the auction. The Auctioneer reserves the right, in its sole discretion, to revoke the bidding privileges of any bidder at any time for any reason.  

Seven Hills Auctions, LLC:

Auction License: MS: C-23814;

William C. Lee III, Broker, MS-24292.