Name Johnny G. Newsome, Jr. Bankruptcy Real Estate Auction 10-26-
Auctioneer Lawler Auction Company
Type Online-Only Auction
Date(s) 10/26/2017
Thursday, October 27, 2017 with auction beginning to close at 7pm.
Preview Date/Time The property can be inspected at anytime prior to the auction.
Checkout Date/Time A deposit of $10,000 must be paid by Friday, October 27, 2017 at 12pm in the form of cash, certified funds, or bank wire.
Location 7781 Highway 1 North
Shreveport, LA 71107
Buyer Premium 15%
Description
We have been commissioned by the United States Bankruptcy Court and U. S. Bankruptcy Trustee John Hodge to auction off real estate in the Bankruptcy Case of Johnny George Newsom, Jr. and Brenda Lee Newsom (Chapter 7 Bankruptcy Case No. 17-11018) to the highest bidder, subject to a secret reserve established by the Trustee. The debtors operated an automobile dealership in Shreveport, Louisiana and the property where the dealership was located is to be sold, pursuant to the orders of the Court. The auction is set to close on Thursday, October 26, 2017 at 7pm.
A non-refundable deposit of $10,000 must be paid by the winning bidder and it is due and payable on Friday, October 27, 2017 no later than 12pm Noon CST in the form of a cashier's check, cash or bank money order. In the event that the deposit is not made timely, the Auctioneer will have the option to sell the property to the second place or subsequent bidder. Closing must occur within 30 days of the auction, when the balance is due in full. The property taxes for the year 2017 will be prorated. The United States Bankruptcy Court has authorized the sale of the property at public auction, free and clear of all liens, encumbrances and interests. Auction is being conducted subject to the terms and conditions of the order issued by United states Bankruptcy Judge Jeffrey P. Norman on September 27, 2017. There is a starting bid of $100,000 pursuant to the orders of the United States Bankruptcy Court order.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 10.00 1.00 USD
10.01 - 25.00 2.50 USD
25.01 - 100.00 5.00 USD
100.01 - 300.00 10.00 USD
300.01 - 1,000.00 25.00 USD
1,000.01 - 2,000.00 50.00 USD
2,000.01 - 3,000.00 100.00 USD
3,000.01 - 10,000.00 250.00 USD
10,000.01 - 100,000.00 500.00 USD
100,000.01 - 9,999,999.99 5,000.00 USD
Currency USD
Buyer Premium 15%
Payment Terms
A deposit of $10,000 in the form of certified funds, cash, or bank wire must be received at The Lawler Auction Company by 12pm Noon on Friday, October 27, 2017.