Apr. 26, 2011 (Marketwire) --
MARIETTA, GA -- (Marketwire) -- 04/26/11 -- Homes, commercial buildings, commercial land tracts and hundreds of residential home sites in Georgia will sell at auction May 25-26, with John Dixon & Associates handling the sale for a major regional bank.
"The credit crisis and recession left banks holding a lot of real estate, and we haven't had a sale with this many properties in several years. We have more than 700 home sites, many of which will be sold in entire subdivisions where no homes were ever built. These alone present some very interesting opportunities for investors and builders, who will likely be able to obtain these lots for a fraction of their former price," said John Dixon, president of the auction company.
All of the properties will sell absolute, meaning each will go to the highest bidder with no minimum or reserve bid. They are located in 18 counties to the south of Interstate 20, which runs through Atlanta. "Other properties will include eight commercial buildings, 10 commercial land tracts, 15 homes and 11 acreage tracts," said John Dixon, president of the auction company.
Because of the large number of properties, the sale will be conducted over two days. On Wednesday, May 25, the company will auction properties west of U.S. 19 and south of Interstate 20. That sale will include properties in Atlanta, Newnan, LaGrange, Fayetteville, Riverdale and Tyrone, among other locations.
The auction on the second day -- May 26 -- will include properties east of U.S. 19 and south of I-20. That auction will include properties in Macon, Jackson, McDonough, Stockbridge, Conyers and Covington.
Both auctions will be conducted at the Quality Hotel & Conference Center, 1551 Phoenix Boulevard, College Park. The bidding will begin at 11 a.m. both days. Internet bidding will also be available by prior arrangement. "People who can't attend in person can watch the auction and bid just as if they were sitting in the room," said Dixon.
John Dixon & Associates, based in Marietta, Ga., is a leading auctioneer of bank-owned properties throughout the United States. Individuals seeking additional information may contact the firm at 770-425-1141 or visit www.johndixon.com. More auction information.
For more information:
Carl Carter
205-823-3273
Lindsay Fernandes
205-909-3705