GONE! No Reserve Auction: 4+ acres, 3BR Fixer-Upper or Development Opportunity | Independence, MO
Ended: 07/18/18 at 3:00 PM CDT
INSPECTIONS: SUNDAY, JULY 1st & WEDNESDAY, JULY 11th; 2:00-4:00
17301 E 32nd Street S., Independence, MO 64055
No Reserve Auction: 4+ acres, 3BR Fixer-Upper or Development Opportunity | Independence, MO
4.67 acres zoned O-1 for low Density Office/Residential For Sale at Auction Regardless of Price!
Rehab the home or tear down and build office or multi-family project. All utilities, sits on small traffic circle, nice setting. Excellent access to Hwy 291 and I-70. Sells online without reserve to the highest bidder on July 18th!
This 4.67 acres rests off E 32nd Street from a traffic circle with a curb cut for access to the property. It lies between a small, well-established owner-occupied office park and an apartment complex. Zoned O-1, the new owner will have the flexibility to rehab the existing structure or demolish and construct a fairly wide range of projects. The O-1 district is primarily intended to accommodate low-intensity office uses and buildings containing a mix of office uses and residential uses. So, build single or multi-tenant office, a fourplex, single-family dwelling or some combination. (Prospective uses should be discussed with the City of Independence.) Excellent access to Hwy 291 and I-70.
The home is a three-bedroom, one bath, 1.5 story. Constructed in 1920 of cut stone with a full basement, root cellar and what the seller calls a “bunkhouse” which is two stories. While apparently structurally sound, the home needs a new roof and would likely be considered for complete rehab on the interior.
- 4.67 acres
- 3BR, 1BA home (fixer upper)
- Year Built: 1920
- O-1 Zoning – Build office, multi-family, single family or both
- Park-like setting
- Overlooks Van Hook Park
- Easy, stop-light intersection access to Hwy 291 and close to I-70
- Ample nearby shopping, dining, services, and entertainment
- Nice level lot at 32nd Street; timbered and slopes down to Shrank Rd. on south side
- Parcel ID: 25-940-04-17-01-0-00-000
- 2018 Property Tax: $4,301
- Sells Without Reserve at Online Auction on Wednesday, July 18th at 3 PM!
Per the published auction terms, this property is available for sale prior to the auction. To qualify, all pre-auction offers must meet all auction terms and be submitted on the provided Cates Real Estate Sale Contract along with the required deposit. All qualifying offers will be presented to the Seller for a timely response. Please contact our office for assistance if needed.
Disclosure: This property is under continuous video surveillance.
“ONLINE ONLY” REAL ESTATE BIDDING
AUCTION TERMS AND CONDITIONS
Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. A credit card (MC, Visa or Discover) is required to actually place a bid on the property. The credit card will be validated before bidding access is granted, but is not a recognized form of payment of the deposit or purchase price. Should a Winning Bidder fail to complete the contract signing process, the required deposit will be charged to the credit card provided at registration. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Bidders may register prior to, or during the bidding period. At registration bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid.
All bidding in this auction is being conducted online. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office for assistance. 816-781-1134) To place a bid, bidders enter their “maximum” bid and click the “Place Bid” button. Each time that bidder is outbid by another bidder, the system will automatically bid on their behalf at the established bid increments up to their maximum. In the case of an auction with a reserve, if the max bid amount entered is less than the reserve, the system will place the bid at the max amount. Once the system displays that the reserve has been met, then it will advance the bid (by the bid increments) only when the bidder is outbid by another bidder, up to the bidders max. The Auctioneer does not know any bidder’s maximum bid. The system will not advance a bidder’s own bid. Online-only auctions utilize the “Soft Close” feature that automatically extends the bidding time if a bid is received in the last 2 minutes of the published bidding period. The extensions will continue until 2 minutes have lapsed without any bidding activity, at which time the auction is concluded.
A buyer’s premium of ten percent (10%) of the high bid shall be added to that bid and included in the total purchase price to be paid by the successful bidder(s).
Sample calculation — High bid = $50,000
Buyer’s Premium = $ 5,000 (10% of 50,000)
Total purchase price = $55,000
Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.
At the conclusion of the auction the Winning Bidder will receive an email and/or phone call confirming his or her winning bid status. In this or a subsequent email the Winning Bidder will receive a link to sign all documents electronically along with wiring instructions for submitting the required earnest money deposit to the named title company. Should the electronic processes described above be unavailable, alternative arrangements will be made. In any event, the contract signing and deposit payment process must be completed by close of business on auction day. A Winning Bidder whose documents and deposit are not received within the required time frame is subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events. Note that property-specific purchase documents are available prior to the auction end date and any professional reviews of such documents should be undertaken PRIOR to bidding. All final bids are subject to Seller’s reserve, unless advertised otherwise. Any property with a high bid exceeding the Seller’s reserve will be declared “sold” by the Auctioneer. In instances where the seller’s reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller’s sole discretion within 5 business days. If approval is denied, all documents and the deposit will be returned immediately.
DOWN PAYMENT (DEPOSIT):
The Winning Bidder shall be required to make an earnest money down payment equal to five percent (5%) of the total purchase price. This deposit must be received by wire transfer (or by certified funds), by close of business auction day. Winning Bidders whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events.
The Winning Bidder shall close within 45 days of the auction date, unless stated differently in the Purchase Agreement. Subject to Probate Court approval.
EVIDENCE OF TITLE:
Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).
REAL ESTATE TAXES & ASSESSMENTS:
2018 taxes are to be prorated as of the closing date.
EASEMENTS AND LEASES:
Sale of said property is subject to any and all easements of record and any and all leases.
Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.
A commission of 3% of the high bid (unless a different percentage is stated in the property’s MLS listing) will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction end date.
DISCLAIMERS AND ABSENCE OF WARRANTIES:
The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it. All sketches and dimensions are approximate. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable).
We hope you enjoy bidding in the online auction!
MO Hwy 291 to stoplight at 32nd St., west to address on left.