Welcome to 817 W. Ashley Ave.!
This is a rare opportunity to bid your price on oceanfront living!
Experience the remarkable transformation of this property, with extensive interior renovations completed over the past year, systems replaced, and curb appeal enhanced. Discover the allure of Folly Beach oceanfront living, with the opportunity to claim your own piece of paradise at the newly renovated 817 W. Ashley on the sought-after west end of the island. The new furniture is included with the purchase, ensuring a seamless move-in experience. Secure a long-term rental permit from the City for stays of 30+ days, offering versatility for rental income.
Property Highlights:
* Bedrooms: 5 King Bedrooms + another Kids TV and Gaming Room.
* Well-appointed Kitchen with new appliances and ample prep areas for a meal provided to a large family and/or guests.
* Bathrooms: 5.5 (including four Kings with private ensuites).
* Accommodation: Sleeps 14 guests.
* Luxurious Amenities: Plush mattresses, spacious interiors, and thoughtfully appointed living spaces.
* Oceanfront Deck: Enjoy sunrise views over the Atlantic, endless sunbathing, and easy beach access via the private walkover.
* Front Deck Rocking Chairs: Perfect for solitude and enjoying a good book.
* Entertainment Haven Underneath the Home: Enjoy Ping Pong, Tiki Ring Toss, Bocce Ball, Cornhole, and other activities.
* Newly Added Gathering Room: Perfect for various activities, games, cozy movie nights, and group get-togethers.
2000+ well-flowing square feet
You may consider adding a front center dormer to the home, expanding the Kids room into a more spacious 6th bedroom. Additionally, if so inclined, the new owner could add a raised oceanfront pool connected to the oceanfront deck, further enhancing the outdoor experience for themselves and likely greater rental income for their efforts. Whether you're seeking a permanent residence, a part-time retreat, or a savvy investment opportunity, 817 W. Ashley offers the perfect blend of luxury, comfort, and endless possibilities for coastal living.
Location: 817 W. Ashley Ave., Folly Beach, SC 29439
Auction Ends: Saturday, June 22nd at 2pm (Onsite bid center starting at 12:30pm)
Open House Dates:
(This is an active rental, these are the only opportunities to view the property!)
Tuesday, May 28th from 5pm-7pm
Saturday, June 8th from 1pm-3pm
Saturday, June 15th from 1pm-3pm
Approval to Bid: Bidders will be required to submit proof of funds to activate their bidder account. Bidders will be required to submit a refundable deposit of $10,000 to become a qualified bidder. Deposits can be made by bank wire or cashiers check. If you are the winning bidder, the $10,000 deposit will go towards your earnest money. If you are not the successful high bidder, your deposit will be returned to you.
Earnest Money: A $100,000 earnest money deposit will be required from the successful purchaser within 24 hours of the auction ending with the balance due within 30 days. Earnest money deposit can be made by cashiers check or bank wire transfer.
Agents/Brokers: Prior to your client placing a bid, please fill out and submit a completed Broker Participation Form. The form can be found under the documents tab below. Completed forms can be sent to [email protected].
Questions: Contact Alex (SC BIC #119902/SCAL #4772) at 843-860-7141 or [email protected]
For more information and pertinent documents, click "View Catalog" & navigate to the "Documents" tab. Home inspection report will be uploaded to the documents section on 5/28.
REAL ESTATE AUCTION
These announcements supersede any prior oral or printed statements and will be attached to and become a part of the contract.
An Auction is considered to be at "CASH PURCHASE" and is not subject to financing. It is without contingencies.
You cannot register or participate in this auction without first, agreeing to this electronic set of terms and conditions. By clicking on the "agree" box, you are agreeing to this set of auction terms and conditions.
The property will be sold by legal description and transferred by warranty deed.
Selling Subject to Sellers Approval.
Winning bidder must sign a non contingent contract and pay earnest money within 24 hours of auctions end.
The terms are $100,000 down payment with the balance due within 30 days. Time is of the essence.
Bidders will be required to submit a refundable deposit of $10,000 to become a qualified bidder. Deposits can be made by bank wire or cashiers check. The deposit can be waived at the auctioneers discretion. If you are the winning bidder, the $10,000 deposit will go towards your earnest money. If you are not the successful high bidder, your deposit will be returned to you.
A 6% buyers premium will be added to the winning bid to determine the final sales
price.
Example: $100,000 bid, plus $6,000 (6% buyers premium) equals $106,000 gross sales price.
This property must comply with the 90 day ''post closing'' Vacation Rental Act for all bookings thru date of closing.
Purchaser to receive possession of the property upon delivery of deed at closing.
Purchaser to pay closing cost and title insurance. Seller guarantees
title to be free and clear.
Ad Valorem taxes will be prorated at closing.
PROPERTY SOLD SUBJECT TO THE FOLLOWING: All outstanding easements of any kind on said property, including but not limited to, roads, right of ways, utilities, water lines, and the like; any mineral, oil and past conveyances, leases or reservations; to any cemeteries that might exist on the property, outstanding leases recorded or unrecorded; zoning ordinances affecting the property; restrictions of record; wet lands; all rules and regulations of any appropriated authority having jurisdiction over the property, and any recorded encroachments of record.
BUYERS NOTE: Prior to the auction all prospective purchases should examine the property and all surrounding documents carefully as each bidder is responsible for evaluating the property and shall not rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that the bidders have inspected the property and are satisfied and accept it “As
Is” without warranties expressed or implied. Personal on-site inspection of the property is recommended. Failure of any bidder to inspect or to be fully informed as to the condition of all or any portion of the property offered, will not constitute any grounds for any claim or demand for adjustment or withdrawal of a bid, offer or earnest money after its opening
or tender.
All information was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, the sellers and all of their agents will not be responsible for any errors or omissions herein.
The auction company and/or it’s employees reserve the right to bid on behalf of the Seller, Lender, Estate Executor, Administrator, Government agency or any party having an interest in the property. Auctioneer reserves the right to advance the bid up to the owners reserve amount, unless the auction is stated as an “Absolute Auction”. By South Carolina law, ALL auctions are considered with “Reserve” unless titled as “Absolute”.
NOTIFICATION OF BINDING ARBITRATION: In the event a dispute shall arise between the parties relating to the Real Estate Purchase and Sale Agreement, property issues, or the Auction, and involving the Seller, Bidder, Buyer, Auctioneer or Auction Company, in any combination, it is hereby agreed that the dispute shall be determined and resolved exclusively by neutral arbitration as provided by South Carolina law and the venue shall be Charleston County, South Carolina.
Default by the Seller: If the Sellers are unable to make conveyance and to give title as herein agreed, the earnest money shall be refunded to the buyer and all obligations of either party shall wholly cease.
Default by the Buyer: Should the Buyer default in the performance of his/her contract in the time and the manner specified, then the earnest money shall be retained as partial liquidated damages and the seller may sue for specific performance.
AGENCY DISCLOSURE: Alexander P. Bourland has not been an agent for the Buyer in this transaction. Alexander P. Bourland has been an agent for the Seller in this transaction and is to be paid a commission by the Seller.
Disclosure: The seller is a licensed real estate professional in the state of South Carolina.
The Auctioneer reserves the right to reject bids from anyone who does not comply with the terms and conditions of this auction.
The Auctioneer reserves the right to cancel the auction at any time for any reason. In the event of a system or internet failure, the auctioneer reserves the right to freeze bidding and re-start bidding on a new timeline, at the discretion of the auctioneer.
The Auctioneer, agents or any of the auction companies staff or members of MarkNet Alliance reserve the right to be a bidder/buyer.
Pearce & Associates makes available to those who can't bid online, for any reason including physical health/limitations and/or the ability to access a computer or internet services, an "absentee bid form". Absentee forms will require a deposit in the amount of 10% of the max bids. Absentee bid forms are available by calling the corporate offices of Pearce & Associates at 843-860-7141.
This auction has what is called an auto extend feature, meaning the auction will not close until all bidding parties are satisfied. If any bids are placed within the last 5 minutes of the auction, the bid on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments from the time the last bid is placed until there are no more bids, and the lot sits idle for 5 minutes.