Bank Owned Commercial Property Auction Comes to the Lansing Area June 21st

2011-09-07 16.40.42On June 21st, Hudson and Marshall will be joining RE/MAX Commercial Group for the live auction of 1456 Haslett Rd in Haslett MI. The auction will take place at 10am sharp and will include time before the auction to tour the property. Tours are also avalable by appointment before the auction by making an appointment with Matt Wisniewski, CCIM of RE/MAX Commercial Groups Lansing office at 517-321-2800 Ext 118.

Terms of Sale
Successful bidders will be required to put down earnest money per the terms & conditions. The applicable terms & conditions can be found on the website at www.hudsonandmarshall.com as well as in the corresponding auction brochure. The earnest money MUST be in the form of CASH or CASHIER’S CHECK made payable to the bidder. The earnest money is non-refundable for all approved sales. Earnest money is not considered an “Option” payment. Bidders are agreeing to close on the property when they successfully bid on the property. Bidders are responsible to perform due diligence, including but not limited to personal on-site inspection of each property prior to the auction. All properties sell “AS IS, WHERE IS” with no warranties expressed or implied. All properties will be conveyed by Special Warranty Deed, and the owner’s title policy will be an expense of the Seller. For properties selling for $10,000 or less, the purchaser shall be required to pay for the property in full on sale day.

A buyer’s premium fee of 5% will be added to the final bid amount on each property sold at the auction. The high bid amount plus the buyer’s premium equals the total purchase price.

On the day of the auction, the buyer will be signing a cash contract to close within 30 – 45 days of seller execution. It is important that your prospects have obtained preliminary loan approval prior to bidding on the property. The auction contract is not contingent upon financing.

No Opening Bids
Hudson & Marshall does not use an Opening or Minimum Bids at Auction. The crowd on bid day determines the first bid. Also, all High Bids will be subject to Seller’s approval, meaning the Seller reserves the right to reject any High Bid. However, properties identified as “absolute” will be sold to the highest bidder no matter what the High Bid price is on auction day.

 

 

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RE/MAX Commercial Group is the Michigan commercial franchise of RE/MAX International focused entirely on commercial real estate sales, leasing and management. With associates and affiliates across the state and around the world, RE/MAX Commercial Group can help you achieve your real estate goals.
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