BANK ORDERED AUCTION – KANSAS CITY AREA BANK OWNED PROPERTIES
Legacy Park Community Center, 901 NW Bluestem Drive, Lee’s Summit, MO 64086
Auction Location: 901 NE Bluestem Drive, Lee’s Summit, MO 64086
Ended: 03/15/12 at 12:00 PM CDT
Location: 119th St. & Moonlight Road, Olathe, KS 66061
Ended: 03/22/12 at 12:00 PM CDT
Location: 119th St. & Moonlight Road, Olathe, KS 66061
Moonlight Ranch, 2 Developed Single Family Acreage Lots
Southeast Corner 119th St. & Moonlight Rd., Olathe, Kansas
- Total Land Area: 5.78 Acres
- Platted Lots: 2
- Lot Sizes: #26 – 2.70 Acres, #27 – 3.08 Acres
- Zoning: RUR, Rural, Agriculture and Single Family
- Utilities: Water, Electric, Sewer – Septic
- Streets: Asphalt Paved
- Topography: Moderate and Rolling
- Entrance: Gated
- Total Lots in Subdivision: 42
- Total Lots Previously Sold: 19
- Total Houses Previously Built: 11
Thursday, March 29th, 2012 — 1:00 p.m.
Legacy Park Community Center
901 NE Bluestem Drive
Lee’s Summit, Missouri 64086
Directions to Auction Site:
I-70 to (exit 15A) I-470 S/MO-291, south to MO-291, left on to MO-291, left on to Scruggs Rd., continue on NE Legacy Park Dr., right on to Access Rd., left to 901 NE Bluestem Dr.
Inspection Dates (For All Properties):
Thursday, March 15th, 10:00 a.m. – 12:00 p.m.
Thursday, March 22nd, 10:00 a.m. – 12:00 p.m.
Or call 816-781-1134 for appointment
Drive bys available at your convenience
Lone Summit Bank needs to move these properties off of their books! Don’t miss this opportunity to buy these great owner/user or investment grade properties at Auction Prices! A Cates representative will be on-site at each property for your inspection on Thursday March 15th & 22nd from 10:00 a.m. to 12:00 p.m. The auction will be held off-site at the Legacy Park Community Center located at 901 N.E. Bluestem Dr., Lee’ Summit, MO on Thursday, March 29th at 1:00 p.m. If you have any questions or need additional information, please give us a call and we will be happy to help you. We look forward to seeing you at the auction.
President & Chief Auctioneer
AUCTION TERMS AND CONDITIONS
REGISTRATION: Registration will begin one hour before the auction. All bidders must provide name, address, phone number, social security number, and a valid driver’s license. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.
DOWN PAYMENT: The successful bidder(s) shall be required to make a 10% non-refundable down payment of the total purchase price at the auction site immediately following the close of bidding. A $25,000.00 cashier’s check shall be required to bid on Properties 1-4 and a $10,000.00 cashier’s check shall be required to bid on Properties 5 & 6 and presented at registration unless you have made other arrangements with the Auction Company. The cashier’s check should be made payable to yourself and then shall be endorsed over to the escrow agent if you are a successful bidder. A personal or business check to bring the balance up to 10% will be accepted.
FINANCING: 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.
CONTRACT SIGNING: The successful bidder(s) shall execute a purchase agreement at the auction site immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise.
CLOSING: Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing.
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 warranty deed conveying the real estate to the buyer(s).
REAL ESTATE TAXES, ASSESSMENTS, & EASEMENTS: 2012 taxes are to be prorated as of the closing date. Sale of said property is subject to any and all easements of record.
AGENCY: Cates Auction & Realty Co., Inc. and its representatives are Agents of the Seller.
BUYER’S PREMIUM: A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).
BROKER PARTICIPATION: A commission 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.
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 announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.
Video: Moonlight Ranch Lots
From KS Highway K-10 to K-7, south to 119th St., west to Clare, south to 127th St., west to Moonlight Road, north to Silver Wrath Dr.
KS Highway 7 South to 135th St., west to Moonlight Rd. (4 miles), north to Silver Wraith Rd. (approx. 2 miles) to Subdivision.