|
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.
|
