Lot # : 1 - PENNEY'S LUMBER PRIME COMMERCIAL PROPERTY
Absentee
Price Realized Not Uploaded
Shipping Available
Reserve Not Met
Date(s)
8/18/2024 - 9/6/2024
Bidding Notice:
ABSENTEE BIDS WILL ONLY BE ACCEPTED UP TO 8 PM ON SEPTEMBER 6, 2024. CONTACT US AT (989) 329-0399 WITH ANY QUESTIONS. DO NOT BID IF YOU CAN NOT SECURE THE NECESSARY FUNDS TO PURCHASE THE PROPERTY. HIGHEST ABSENTEE BID WILL BE TAKEN TO THE LIVE AUCTION.
Auction Notice:
PLEASE READ ALL TERMS AND CONDITIONS FOR THIS AUCTION PRIOR TO BIDDING! PLEASE NOTE: PROPERTY DOES HAVE A RESERVE BID AMOUNT THAT IT MUST REACH IN ORDER FOR PROPERTY TO SELL. BUYER'S PREMIUM: 0% ON COMMERCIAL PROPERTY, 15% BUYER'S PREMIUM APPLIES TO THE KRAUTER BUILDING, TRUCKS AND FORKLIFT. 5% DISCOUNT FOR CASH OR CHECK.
Information
| Lot # | 1 |
|---|---|
| Group - Category | Real Estate - Commercial Properties |
| Lead | PENNEY'S LUMBER PRIME COMMERCIAL PROPERTY |
| Description |
2.2 Acres of prime commercial property, formerly known
as Penney's Lumber, offers a 5,488 sq ft
poured foundation for new construction; 80 ft x 30
ft brick building with a small office area, 2 bays
both with access and overhead doors and an additional
3280 sq ft enclosed storage area. This is
situated on a high traffic area on M-18 North to
Roscommon and just North of the M-18 and M-55
intersection, only 10 minutes to I-75. Zoned
Commercial/Village Mixed Use offering numerous
zoning allowances for development. Located in
Prudenville and just across M-18 from Houghton Lake,
Michigan's largest inland lake. Address: 566 E. Houghton Lake Drive, Prudenville, MI 48651. NOTE: The Real Estate does have a minimum bid requirement that must be reached in order for it to be sold. Real Estate is subject to Seller and/or lender confirmation and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the Agreement to Purchase Real Estate (the Contract).
The high bidder will then deposit earnest money of 10% of the total sale price in the form of a cashier’s check or wire transfer to Adam Breault Auctions within Forty-Eight (48) hours of the completion of the auction. The earnest money deposit is non-refundable. The entirety of the remaining balance (90% of the total sale price) is due at closing on or before Forty-Five (45) days from Auction Day. Buyer will be responsible for all wire transfers. If the Purchase Agreement is not accepted by the Seller and/or Lender, the Buyer will receive a full refund of their earnest deposit as soon as practicable.
Successful Bidders that do not execute and return their Contract with an Earnest Money deposit within Forty-Eight (48) hours of the conclusion of the auction will be considered in default. If a closing on the Real Property is delayed for any reason, Buyer, or other parties working on your behalf, including any lender you involve, you may be declared in breach of the Contract, forfeit all deposits made, and could be held liable for any and all costs incurred by Seller and Adam Breault Auctions incurred in a subsequent resale of the property.
Per the Purchase Agreement, time is of the essence; you should proceed to closing within Forty-Five (45) days. Possession shall be given to the successful Buyer(s) at closing. All closing fees charged by the Title Company are shared equally between Buyer(s) and Seller(s).
Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs, or inspections), but for Seller(s) and/or Lender approval (referenced above). Therefore, Bidders should be “pre-qualified” by a lender (if you require financing) prior to submitting a bid. The property is being sold for cash “as-is, where-is” without representation or warranty of any kind. Buyer agrees to accept in its present condition, Real Property, including any personal property items not taken by Seller(s).
Adam Breault Auctions reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time. The identity of all bidders will be verified. Bidding rights are therefore provisional, and if complete verification is not possible, Adam Breault Auctions may reject the registration of a bidder, and bidding activity will be terminated.
Buyer acknowledges they are buying the Real Property “as-is, where-is” with no guarantees or warranty's either expressed or implied, that Buyer(s) are relying on his/her own judgment and prior inspection. By signing an offer, Buyer(s) waive the 10-day lead based paint test. Equipment, if any, is sold with no warranty express or implied of any kind. Any excess materials left after the auction become the responsibility of the Buyer.
Seller(s) will provide an owner’s policy of insurance and convey title with a Full Warranty Deed.
Buyers agree to accept this property with no prior Mechanical inspections.
Adam Breault Auctions, and their representatives are Exclusive Agents of the Seller(s). Adam Breault Auctions reserves the right to negotiate a final sales price on behalf of the Seller, or bid on behalf of the Seller, if necessary.
Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations, including drain assessments, tile drainage system rights of way, and PA116 agreements. Properties that are rented are subject to Tenant’s Rights. There are no security deposits associated with the Real Property. Taxes will be pro-rated to the closing date. Buyer agrees to assume all amortization schedules if applicable. Any drain assessments will be assumed by Buyer.
All maps used in auction materials in print or online are based on specific County Equalization maps. Adam Breault Auctions makes no guarantee that the maps are accurate.
Adam Breault Auctions reserves the right to revise The Terms and Conditions. PLEASE NOTE: PROPERTY DOES HAVE A RESERVE BID AMOUNT THAT IT MUST REACH IN ORDER FOR PROPERTY TO SELL. ALSO, IF KRAUTER AUTO-STAK LUMBER STORAGE BUILDING DOES NOT MEET ITS MINIMUM BID REQUIREMENT, IT WILL SELL WITH THE REAL ESTATE.
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Auction Information
| Name | PENNEY'S LUMBER REAL ESTATE & EQUIPMENT AUCTION |
|---|---|
| Auctioneer |
Adam Breault Auctions
|
| Type | Internet Absentee Bidding |
| Date(s) | 8/18/2024 - 9/6/2024 |
| Auction Date/Time Info |
9/7/2024 12 PM
|
| Preview Date/Time | 9/7/2024 9 AM OR BY APPOINTMENT |
| Checkout Date/Time | 9/7/2024 |
| Location |
|
| Buyer Premium | NO BP ON PROPERTY, 15%, -5% CASH/CHECK |
| Description |
PENNEY'S LUMBER HAS MADE DECIDED TO AUCTION OFF THE COMMERCIAL PROPERTY AND WE HAVE PARTNERED WITH COLDWELL BANKER SHCMIDT REALTORS. THE AUCTON WILL TAKE PLACE ON SATURDAY, SEPTEMBER 7, 2024 AT 12 PM. PREVIEWS WILL BEGIN THAT DAY AT 9 AM. ADDITIONAL VIEWINGS ARE AVAILABLE BY APPOINTMENT. WE HAVE ADDED THE EQUIPMENT TO THIS AUCTION TO ALLOW FOR ONLINE ABSENTEE BIDDING: KRAUTER AUTO-STAK LUMBER STORAGE BUILDING, 2005 INTERNATIONAL 4300 DT466 FLATBED DELIVERY TRUCK, 1988 GMC TOPKICK 4000 DIESEL FLATBED DELIVERY TRUCK, YALE VERACITOR 80VX FORKLIFT. LOCATED AT 566 E HOUGHTON LAKE DRIVE, PRUDENVILLE, MI 48651.
2.2 Acres of prime commercial property, formerly known as Penney's Lumber, offers a 5,488 sq ft poured foundation for new construction; 80 ft x 30 ft brick building with a small office area, 2 bays both with access and overhead doors and an additional 3,280 sq ft enclosed storage area. This is situated on a high traffic area on M-18 North to Roscommon and just North of the M-18 and M-55 intersection, only 10 minutes to I-75. Zoned Commercial/Village Mixed Use offering numerous zoning allowances for development. Located in Prudenville and just across M-18 from Houghton Lake, Michigan's largest inland lake. Contact Ruth Clemens with Coldwell Banker Schmidt Realtors at (989) 429-3100 with any questions or to request a viewing of the commercial property and buildings.
VISIT ADAMBREAULT.COM FOR PICTURES AND COMPLETE TERMS & CONDITIONS.
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Terms and Conditions
By registering and bidding on any item, the bidder/buyer shows acceptance of the following terms and conditions. Do not register or bid unless you agree to all the terms and conditions:
REGISTRATION: All information provided by bidder/buyer during the registration process must be current, complete, and accurate. Bidders must be 18 years of age or older. Adam Breault Auctions, at its sole discretion, may deny registration to any person or entity.
DISCLAIMER: All lots are sold "AS-IS, WHERE-IS", with all faults, imperfections and errors. Adam Breault Auctions and the seller(s) do not give or make any type of guarantee or warranty regarding the lots to be sold, implied or otherwise. Adam Breault Auctions encourages all bidders to inspect lots in person before bidding when available. Adam Breault Auctions has put forth every effort in preparing the catalog for every auction to provide accurate descriptions of all items, however, it is the bidder's responsibility to determine the condition and suitability of each lot. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. Any bidder's failure to inspect, or to be fully informed on the quality or condition will not constitute grounds for any claim, adjustment, refund, termination of the purchase contract, or refusal to close the sale. If you are unsure about any of the Term and Conditions, pricing, or how to bid; IF YOU ARE IN ANY WAY UNSURE AS TO ANY MATTER HEREIN, Adam Breault Auctions URGES YOU TO NOT BID. WE ATTEMPT TO TAKE THE BEST PICTURES WE CAN ALONG WITH SOME STOCK PHOTOS BUT UNFORTUNATELY, WE CANNOT OFFER ANY RETURNS, NO EXCEPTIONS! BUYER BEWARE!
CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of Adam Breault Auctions. Adam Breault Auctions reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. WE ACT ONLY AS AGENTS FOR THE SELLER. Sellers or their agents reserve the right to bid on their own behalf to protect their investment(s). All decisions of Adam Breault Auctions are final.
MAX BID: When you place your maximum bid, the current bid price doesn't automatically jump to your max bid. Your bid will go to the next highest increment and will be increase as other people bid against you. The computer will automatically bid up to your max in the increments specified. By placing any bids, you have agreed by legal contract that your bid or max bid is what you are willing to pay for that specific lot(s) and may have to pay full bid or max bid amount of any bids placed. The buyer agrees and is responsible for every bid amount placed. Remember, Adam Breault Auctions or anybody for that matter, DO NOT force you to place any bid, you and you alone are responsible for your actions. Please bid accordingly. PLEASE NOTE: PROPERTY DOES HAVE A RESERVE BID AMOUNT THAT IT MUST REACH IN ORDER FOR PROPERTY TO SELL.
BUYER'S PREMIUM: 0% ON COMMERCIAL PROPERTY, 15% BUYER'S PREMIUM APPLIES TO THE KRAUTER BUILDING, TRUCKS AND FORKLIFT. 5% DISCOUNT FOR CASH OR CHECK.
Real Estate bids are subject to seller approval. Bids for a cash purchase require ‘proof of funds’
from purchaser or a bid for financing to require a ‘pre-approval’ by a lender of purchaser’s
choice. PLEASE NOTE: DO NOT BID IF YOU CAN NOT SECURE THE NECESSARY FUNDS TO PURCHASE THE PROPERTY. The high bidder will deposit the earnest money deposit of 10% of the purchase price with CBSR at the time of execution of a Buy and Sell Agreement for the amount and terms of the purchase. The balance of the purchase price is due at closing per the terms of the Buy and Sell Agreement executed by purchasers and accepted by sellers.
ADAM BREAULT AUCTIONS AND COLDWELL BANKER SCHMIDT REALTORS reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time. The identity of all bidders will be verified. Bidding rights are therefore provisional, and if complete verification is not possible, ADAM BREAULT AUCTIONS AND COLDWELL BANKER SCHMIDT REALTORS may reject the registration of a bidder, and bidding activity will be terminated.
ADAM BREAULT AUCTIONS, COLDWELL BANKER SCHMIDT REALTORS and their representatives are Exclusive Agents of the Seller(s). ADAM BREAULT AUCTIONS reserves the right to negotiate a final sales price on behalf of the Seller, or bid on behalf of the Seller, if necessary.
ADAM BREAULT AUCTIONS AND COLDWELL BANKER SCHMIDT REALTORS reserves the right to revise The Terms and Conditions.
SUSPENSION / PERMANENT BAN: A bidder/buyer will be suspended or permanently banned from Adam Breault Auctions Online Auctions for providing false or fraudulent information when registering. A bidder/buyer will be permanently banned from Adam Breault Auctions Online Auctions for failing to honor the "REMOVAL" terms made under that bidder/buyer registration.
TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Adam Breault Auctions reserve the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Adam Breault Auctions shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
BEFORE THE AUCTION: You may attend pre-sale viewing for all of our auctions. All property to be auctioned is usually on view for several days prior to the sale. You are encouraged to examine lots thoroughly.
IMPORTANT NOTE: Your bid is a legally binding contract, no exceptions. Winning bidder agrees to indemnify and hold harmless sellers, auctioneers, auctioneers employees, auction company owners, directors, etc. etc. from all claims, fees, judgments, expenses, disputes, legal fees etc. etc.
If you fail to pick up your items on the load out day and don't contact us we will bill your credit card used upon registration for this auction. These terms & conditions supercede any and all printed or online terms and conditions.
Please contact us for any additional questions.
Adam H. Breault
Owner/Auctioneer
Adam Breault Auctions
(989) 329-0399
Bid Increments
Your bid must adhere to the bid increment schedule.
| Bid Amount | Bid Increment |
|---|---|
| 0.00 - 999.99 | 25.00 USD |
| 1,000.00 - 9,999.99 | 100.00 USD |
| 10,000.00 - 499,999.99 | 1,000.00 USD |
| 500,000.00 - 999,999.99 | 5,000.00 USD |
| 1,000,000.00 - 9,999,999.99 | 10,000.00 USD |
Payment Information
| Currency | USD |
|---|---|
| Buyer Premium | NO BP ON PROPERTY, 15%, -5% CASH/CHECK |
| Payment Terms |
Real Estate bids are subject to seller approval. Bids for a cash purchase require ‘proof of funds’
from purchaser or a bid for financing to require a ‘pre-approval’ by a lender of purchaser’s choice. PLEASE NOTE: IF YOU ARE UNABLE TO SECURE TO NECESSARY FUNDS, PLEASE DO NOT BID. The high bidder will deposit the earnest money deposit of 10% of the purchase price with CBSR at the time of execution of a Buy and Sell Agreement for the amount and terms of the purchase. The balance of the purchase price is due at closing per the terms of the Buy and Sell Agreement executed by purchasers and accepted by sellers.
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Shipping / Pick Up
HOTSHOT FLATBED DELIVERY AVAILABLE ON ANY ITEMS UNDER 32 FEET LONG AND 15,000#. CONTACT 989-329-0399 FOR A QUOTE
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