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REAL ESTATE AUCTION #2 NOVEMBER 12, 2003
10AM
1375 N. Arroya Road
Apache Junction, AZ 85219
map to property
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5 bedroom/3 bath
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2,300 square feet +/-
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54,450 square foot lot +/- (1.25 acres)
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2-story at the base of The Superstition
Mountains
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Horse property
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Home is approximately 85% complete
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2001 taxes: $273.00
TO BE AUCTIONED TO THE HIGHEST BIDDER
“AS IS” FOR CASH AT 3138 W. DURANGO STREET, PHOENIX, ARIZONA 85009. THIS
PROPERTY TO CLOSE ESCROW ON OR BEFORE DECEMBER 12, 2003 5PM. THIS SALE IS
NOT CONTINGENT UPON FINANCING. BUYER TO COMPLETE ALL DUE DILIGENCE PRIOR TO
AUCTION/MAKING OFFER.
THIS PROPERTY IS AVAILABLE FOR PURCHASE
PRIOR TO AUCTION FOR $119,000.00.
NO RESERVE/NO BUYER’S PREMIUM - THIS
PROPERTY WILL BE SOLD ABSOLUTE REGARDLESS OF PRICE AT AUCTION.
CONTACT CARL CUNNINGHAM/REALTY
EXECUTIVES FOR TERMS OF SALE/PROPERTY TOUR AT 602-647-4900 OR
carl@auctionaz.com
BUYER MUST USE TSA TITLE AGENCY.
BACK TO WAREHOUSE AUCTION
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BANKRUPTCY REAL ESTATE AUCTION TERMS AND CONDITIONS
3175 E.
Arroya Road, Apache Junction, Arizona 85219, Wednesday, November 12, 2003,
10:00 A.M.
NO BUYER’S
PREMIUM
In this or
any other Cunningham & Associates, Inc. auction.
Prior to
auction day, Cunningham & Associates, Inc./Realty Executives and The Seller
will agree and finalize the Terms & Conditions of the auction sale. Buyers
are advised of the requirements well in advance of auction day and
additionally, on auction day. The following are the Terms and Conditions
utilized.
PREVIEW
This real
estate will be available for inspection by appointment only. Prospective
Purchasers are encouraged to personally inspect the property for sale, as
this property will be sold “AS IS”.
BIDDER DEPOSITS
All Bidders
are required to deposit a $5,000.00 cashier’s check made out to bidder or to
TSA Title Agency to obtain a Bidder’s Card. All Unsuccessful Bidders will
receive their deposit/certified funds immediately following the auction.
EARNEST MONEY
DEPOSIT
The
Successful Bidder must provide 10% of the High Bid immediately after being
deemed “Successful Bidder” as a non-refundable down payment. This deposit
must be in the form of a wire transfer or cashier’s check and must be made
out to TSA Title Agency. Payment-in-full is required by 5:00 P.M. Friday,
December 12, 2003.
CLOSING
Escrow company shall be TSA Title
Agency. The difference between the 10% earnest deposit and the purchase
price will be due and payable at closing. Closing will be scheduled on or
before Friday, December 12, 2003. Buyer to pay Buyer’s share of closing
costs.
DEFAULT
The property
will be sold for cash to close within 30 days. SALES ARE NOT CONTINGENT
ON FINANCING. It is strongly recommended that all prospective
purchasers pre-qualify themselves prior to auction. If closing is delayed
by actions or failure to comply with these auction terms and conditions by a
Successful Bidder, default may be declared and the earnest money deposit may
be retained by the Trustee.
BACK-UP BIDDER
The
Auctioneer may take a back-up offer from the second highest Bidder. The
Back-Up Bidder must purchase the property at its bid price by 5:00 P.M. of
the next business day after being offered the property. In the event the
Highest Bidder fails to perform as required, the property will be offered to
the Back-Up Bidder. At the time all original terms of sale will become the
responsibility of the Back-Up Bidder including the deposit requirements.
CONDUCT OF THE
AUCTION
This property
is to be sold to the Highest Bidder. There will be NO BUYER’S PREMIUM added
to the highest bid. This property will be the second of two real properties
to be sold November 12, 2003 at 10 AM. The first property to be sold will
be an income producing duplex located at 10635 N. 15th Lane,
Phoenix, AZ 85029.
OTHER CONDITIONS
No Bidder
shall offer an advance upon the previous bid of less than such amount as the
Auctioneer may in sole discretion direct. The auction will be recorded and
the Auctioneer’s sales records shall be conclusive in all respects. It is
the sole responsibility for the buyer to conduct ALL due diligence prior to
auction. Due diligence may include (but is not limited to) home
inspections, appraisals, termite inspections, roof inspections. A copy of
the preliminary title report will be made available to prospective buyers
for inspection no later than Friday, November 7th, 2003. Please
contact Carl Cunningham for a copy of this preliminary title report at
602-647-4900.
AUCTION RULES
All
announcements made from the auction block will take precedence over any
previously printed material or any oral statement made. In the event of any
dispute between Bidders, the Auctioneer’s decision will be final. The
Auctioneer reserves the right to refuse admission or ask an attendee to
leave the auction. Auctioneer reserves the right to withdraw or add any
property to the auction.
TITLE
This property
is guaranteed to transfer free and clear of all liens, but is subject to tax
pro-ration, restrictions, reservations, and easements of record, zoning,
environmental protection, and other municipal, federal and state laws or
facts which an accurate survey and/or inspection of the tract being sold
might show. Though care has been taken in its compilation, Auctioneer does
not warrant the accuracy of any of the information provided about the
property.
BROKER
PARTICIPATION
Up to a 2%
co-broke will be available for any properly licensed Arizona real estate
broker, whose client is properly registered under Auction Company
Guidelines, and pays and settles in full for the property. Please call
602-647-4900 for registration guideline information a minimum of 24 hours
prior to auction to register Client.
REGISTRATION
Buyer’s
Broker/Agent must fax/e-mail 480-733-4748/(carl@auctionaz.com)
Client’s name, Broker/Agent name, company, phone number in order to qualify
for the broker participation co-broke commission.
PROPERTY SALES,
AGENCY, DISCLOSURE
At closing
additional sums may be demanded from you as Buyer, in the form of closing
costs. Listed below are some of the items of which you need to be aware:
1)
CASH: If you are paying cash at closing, your
costs will include the Buyer’s and Seller’s share of prorated expenses,
filing fees, plus attorney’s fees should you decide to hire an attorney.
2)
Mortgage: If you obtain a mortgage, any costs
associated with obtaining the mortgage, including but not limited to
inspections, points, application fees, appraisal, recording fees, intangible
tax on the mortgage plus attorney’s fees, should you decide to hire an
attorney.
AGENCY DISCLOSURE: Cunningham &
Associates, Inc. Auctioneers is by this document giving notice to the Buyer
that they are the Agent and Representative of the Seller. The undersigned
acknowledges that the written notice was received before the undersigned
executed a contractual offer.
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