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| Name: |
AUpAUL
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/24/2004 3:29:16 PM
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Any one know of a place were past auction would be listed. I would like SOME idea as to what they bring. Any numbers???
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| Name: |
boatman
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/24/2004 8:43:21 PM
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Is there an APC auction planned for anytime soon that you are aware? If so, what part of the lake? I don't recall APC ever auctioning off lots, but I do know they have prepared areas to sell and have done so at market value on a lot by lot basis.
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| Name: |
lakebum
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 6:44:37 AM
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You have to get on th3e list that they keep at teh land office in Clanton. They will mail you the information. Seems like the going prices are market value and the bid is just dressing.
Beleive if you want the Clanton addr call/write the office in Dadeville.
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| Name: |
Lakeman
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 8:30:23 AM
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You have to pay a bidding fee which is forfeited.
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| Name: |
Lakeman
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 8:34:59 AM
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Someone told me the going lease is 10% of the property value for a year divided by 12.
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| Name: |
roswellric
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 10:04:38 AM
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I think they auction off the right to lease the lot - not buy
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| Name: |
Feb
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 10:59:40 AM
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OK, Here we go on this interesting topic again. If you do a search on the Forum you will find detailed discussions of the process.
I will attempt to outline briefly the process. APC generally puts up about 20 lots a year in the auction to win a rental lot(s). APC has sold some of the long ago rental lots to the leassee(s), but of recent years APC states they will no longer do so. It will always be a leased lot. The minimum bid has been $2,000.00, but that will not win the lease rights for you if the recent past has been an indicator. Look at probably about ten times that amount or more. In the auction, APC will identify the location of the lot, the monthly rental fee (generally between $300.00 to $600.00 per month depending of the quality of the individual lot), and the terms and conditions of the Auction and Lease agreement. If you are the high bidder for a lot or lots then the amount you bid becomes APC's money and it does not apply to future rental payments. If you are the unsuccessful bidder, then your money is returned by APC. The lots are unimproved and you have to install electical, septic, dirveways, cabin, dock, boat house, telephone lines and any other improvements. There is a minimum size cabin structure that is allowed. I believe something like 2,000 sq.ft., and a mobile home is not allowed. The rental amount is good for the first five years and may then be raised by APC based upon economic inflation rates. You can never loose the lease unless you miss rental payments or violate the rental contract. You can not sell the lease unless the lot has been improved with a contractually acceptable cabin. If APC does take the lot back then they are required to pay fair market value (never been done unless contract violated) for improvements.
It is not a bad deal for a quality lot on Lake Martin if you are able to overcome the long term lease idea as opposed to property ownership. Be aware that many investors win, construct and sell for a nice profit. I know someone who has done this on several occassions and has sale contracts on the properties even before construction was completed. He made a nice profit on all he sold that was far better than the recent stock market.
If you bid $23,455.33 on a lot and win then that is the amount you forfeit to APC as Lakeman stated. Lakebum is correct you can get on the bid package distribution list. I have not received a set for this year. I expect it around June. Good Luck - You will need it unless you bid a sizable amount.
The last part of your question - I do not believe that APC makes public the winning bid amounts. They will upon request let you know the winning bid amount for the lot you were unsucessful on. My personal information over the last two to three years says you had best bid around or above twenty grand for even a chance, and the bid has to be by certified check.
I think most of the above is the case but could be off on some minor points or on anything that changes this year.. Hope this is of help. I know I have wrecked everyone's hopes of a lot for less than a substantial bid.
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| Name: |
JIM
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 9:24:08 PM
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These lots are not the most desirable lots, it would take a idot to bid on one. If you got one you are in trouble, a 2 thousand sq. ft. house @ 80 dollars per sq, ft.. septic @2 thousand, clearing at who knowes what. Plus the money you put up front, on land you do not own.STAY AWAY.
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| Name: |
Feb
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| Subject: |
APC Lease Lots AUCTION
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Date:
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5/25/2004 10:18:05 PM
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Hey Jim, What are you trying to do? Scare off the bidding competition? I do agree with part of your post, but I disagree with some of your statements. The things I agree with you on are things that have to be done to every unimproved lot. I have been on a number of APC Lots that were spectacular withgentle sloping land to the water edge and great big water views. A large number of the premo lots in the Parker Creek area are former APC lease lots. I also bid on a great lot two years ago that I did not win, and the lease sold for over 24 grand. I have walked two lots in Parker Creek and one on Oakachoy that were auctioned last year. All three were great lots. They had significant water frontage at around 200 feet or better.
Maybe I should come take a look at your place to see a great lot if you believe and are accurate in your account that APC lots are poor. It must be spectacular. Where or what part of the Lake have you seen the bad APC lots?
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