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Absolute Auction
The Lancaster Agency, Inc. has been
commissioned by Mike and Joe Ann Spalding to offer this income
producing property at ABSOLUTE AUCTION on
Saturday, May 17th, 2008 at 10:30 A.M.
THE APARTMENT BUILDING:
This 2 story brick building has been modified into 5 income
producing apartments, each with a stove and refrigerator. It is
conveniently located in the beautiful downtown area of Lebanon and
offers additional parking in the rear of the building. As of
April 29th, 2008, all 5 units were currently rented on a verbal
month-to-month lease. The 3 two bedroom units are rented @
$225/month and the 2 one bedroom units are rented @ $175/month for
a total income of $1,025 per month.
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AUCTIONEER'S
NOTE: It's time to put your money to work
for you with this great investment opportunity. What a
deal...The renters make the payments and
increase your equity in the property! Be the highest
bidder and you bought it at ABSOLUTE
AUCTION!!!
TERMS &
CONDITIONS:
* There will be a 10%
Buyer's Premium added to the winning bid to determine
the final sales price.
* The purchaser of the real
estate will pay a 20% non-refundable deposit the day of
the auction with the balance due on or before June 17th,
2008.
* Possession and use will be
granted with the deed.
* 2008 property taxes &
rents will be pro-rated as of the deed date.
* THIS PROPERTY
IS BEING SOLD AS IS. The real estate is
available daily for inspection by contacting The
Lancaster Agency, Inc. at (270) 692-6748 or toll free at
1-888-692-7655.
* NOTE:
This property was built prior to 1978 and has
the potential for lead based paint. Lead based paint
inspection, and all other inspections by prospective
buyers, must be performed prior
to the auction. If the buyer does not inspect the
property for lead based paint, a Waiver Of Lead Based
Paint Inspection will be signed along with the Auction
Purchase Contract.
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ANNOUNCEMENTS MADE THE DAY OF THE AUCTION SUPERSEDE ANY AND ALL PRIOR ANNOUNCEMENTS OR STATEMENTS WHETHER ORAL, WRITTEN OR OTHERWISE, REGARDLESS OF WHO MADE THEM OR WHEN THEY WERE MADE. |
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CHARLES E. LANCASTER, JR. - PRINCIPAL BROKER / APPRENTICE
AUCTIONEER |
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Proudly serving all your auction needs: Estate sales, farm machinery, inventory liquidation, and much, much more! |
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Member of Kentucky and National Auctioneers Association
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