John Dixon & Associates to Auction Bank-Owned Properties in Georgia

Homes, commercial buildings, commercial land tracts and hundreds of residential home sites in Georgia will be put up for auction by John Dixon & Associates.

More than 700 bank-owned properties will be sold, many in entire subdivisions where no homes were ever built. The auction will last for two days on Wednesday, May 25 and Thursday, May 26 because of the volume of properties that buyers will be able to purchase.

“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,” said John Dixon, president of the auction company, based in Marietta, Ga. “This will be a very interesting opportunity for investors and builders who will likely be able to obtain these lots for a fraction of their former price.”

All of the properties will be sold via the absolute method, meaning each will go to the highest bidder with no minimum or reserve bid.

Dixon said the auction is also going to include the additional selling of eight commercial buildings, 10 commercial land tracts, 15 homes and 11 acreage tracts.

The properties are located in 18 counties throughout the state, south of Interstate 20, which runs through Atlanta. On the first day of the auction, properties in Atlanta, Newnan, LaGrange, Fayetteville, Riverdale and Tyrone will be available for buyers to purchase. The second day will sell properties in Macon, Jackson, McDonough, Stockbridge, Conyers and Covington.

Both auctions will take place at the Quality Hotel & Conference Center in College Park, beginning at 11 a.m. Internet bidding will also be available for individuals who cannot attend the onsite auction.

“People who can’t attend in person can watch the auction and bid just as if they were sitting in the room,” Dixon said.