Iron Horse Auction Company to Conduct $10 Million Online Only Real Estate Auction in North and South Carolina

ROCKINGHAM, N.C., Jan. 25, 2013 /PRNewswire/ -- It was announced today that Iron Horse Auction Company, Inc. will be selling 149 properties in 17 counties of North Carolina and 21 properties in 3 counties South Carolina at online auction.

The properties are Bank Owned and to be sold and closed by March 20, 2013.  They include residential mountain lots in Avery, Watauga and Ashe Counties, waterfront lots on Lake Norman, acreage and commercial properties in the Charlotte Metro Area, residential lots in Central and Eastern North Carolina, residential and commercial lots in SC, and much more.

The current tax appraisal of all the properties is in excess of $10 million. The auctions are divided into three geographical areas with the Charlotte Metro Auction beginning Wednesday, February 6^th and ending on Wednesday, February 13^th.  The Western NC Auction begins Thursday, February 7^th and ends Thursday, February 14^th.  The Eastern NC Auction begins Friday, February 8^th and ends Friday February 15^th.  All Bidding will take place on the www.ironhorseauction.com website. All the properties will sell regardless of price with no minimums.

Sonny Weeks of Iron Horse Auction states, "Yadkin Valley Financial Corp has raised $45 million in capital, allowing the bank to move a large portfolio of bank owned properties off their books. The bank has authorized our company to auction these properties with no minimum ,to the highest bidder. This is a rare opportunity to buy bank owned properties at auction prices. Please visit our website at ironhorseauction.com to buy your next big mountain view, commercial land parcel, residential development or future investment, in the Carolinas."

Bidder Central locations will be open for the benefit of those buyers wishing to watch or participate in the closing of each event.

For further information, go to ironhorseauction.com or call:
800-997-2248 

For interviews, contact:
Sonny Weeks at 704-200-3201
Iron Horse Auction Company, Inc.
174 Airport Road
Rockingham, NC 28379
910-997-2248
www.ironhorseauction.com

SOURCE Iron Horse Auction Company, Inc.