THOMASVILLE, GA--(Marketwire - Mar 26, 2012) - At J.P. King Auction Company's real estate auction on Saturday, Cassique Plantation sold in two tracts for $990,000. The auction, which took place on the property in Ochlocknee, Ga., was an absolute sale, meaning the property was offered with no minimums and no reserves.
In June of 2011, Steve Schade began looking for a second home in Ochlocknee. After touring several houses and an unsuccessful attempt to buy one home, Schade passed by the Cassique Plantation.
"I contacted my real estate broker and told him this was exactly what I was looking for, even though it wasn't for sale, and he sent me your website," Schade said. "I couldn't believe it."
The auction brought 12 registered bidders from Tennessee, North Carolina, Georgia and Florida, including four online bidders. After an hour-long auction, Schade, of Lake Wales, Fla., was the successful bidder for the first tract, which included the home he had wanted. The second tract sold to Eddie Sholar for $742,500. Sholar attended the auction from Leesburg, Ga.
"I feel like everything went very well," said Fred Rowan, the property's seller. "The auction was professionally managed, I got the results that I had wanted, and, from start to finish, everything was exactly what I had expected."
Over its 97 acres, Tract 2 features a 20-dog kennel, an eight-stall wood barn and a five-acre pond managed for large-mouth bass. It also includes a transferable lease for 1,830 acres of prime hunting land.
"Cassique Plantation is the type of property that any hunter would appreciate and enjoy," said Craig King, president and CEO of J. P. King Auction Company. Rowan said he's not sure what the new owners plan to do with the property, but he thinks "they all had a great respect for the property, its quality and how it's been maintained."
"I think they're both proud to own it," he said.
"I think everything went great," said Schade, after the sale. "J. P. King did a fabulous job all the way around. It was a first-class representation, the representatives were precise and answered all my questions, and I thought it was a great auction."
About J. P. King: J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Kentucky, West Virginia, Oklahoma, California and Montana.
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Email: cnewberry@jpking.com
