Development Land Auction

Description

UPDATE: TRACT 1 SOLD FOR $165,000 AND CLOSED ON 07/07/05. TRACT 2 SOLD FOR $45,000 AND CLOSED ON 07/07/05.

DEVELOPMENT LAND AUCTION

26 Acres - 2 Tracts - Xenia, OH

Friday, June 3, 2005, 2:00 PM

Open House/Preview Date: Monday, May 23, 2005, 4:00-5:30PM

Property /Auction Location:   914 Bellbrook Ave., Xenia, OH. 

Directions:   From center of Xenia, travel W. on US 35 to left on US 42 to right on Second Street to left on Bellbrook Ave.   From Dayton, travel E. on US 35 (bypass) to E. on Bellbrook Ave. (aka Lower Bellbrook Rd.).  Located across from Super Valu Warehouse. Watch for signs.

DEVELOPERS  ●   INVESTORS   ●   BUILDERS   ●   INDUSTRY  

One of the last undeveloped properties within the City of Xenia.  Residential, Office, and Commercial development potential serviced with public water, sewer, & natural gas.  This 26+ acre property is available in two separate parcels of 20+ acres and 6+ acres.  Property is currently zoned Ag with great potential for development.  Bordering properties include Arrowhead Acres subdivision, Super Valu Warehouse, Industrial Blvd. and XeniaNazareneSchool. Potential access from Peacepipe Trail. Previous site of Mallows Orchard.  Improved with 1-story frame ranch dwelling and two metal pole buildings.  Programs may be available from the City of Xenia for commercial development. Immediate occupancy.

Tract 1:  20+ acres improved with 1974 1-story frame ranch home, two nice metal buildings & other miscellaneous outbuildings.   410 feet frontage on north side of Bellbrook Ave.  Public water, sewer, & natural gas located on property.

Tract 2:  6+ acres with 380 feet of frontage on north side of Bellbrook Avenue.  Flat topography with great development potential.

Real Estate Sale Terms

Bidding Procedure:  The property will sell to the highest bidder subject to the confirmation of the Seller. Property will sell by the Multi-Parcel Method in the manner resulting in the highest total bid price(s).

Acceptance of Bid Prices:  The successful bidder will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding.  Seller not responsible for Buyer’s share of normal & customary closing costs.

Down Payment:  10% down payment/earnest money day of auction upon signing of Confirmation of Sale Agreement; balance due at closing.  Bidding IS NOT CONDITIONAL UPON FINANCING.

Real Estate Taxes:  Taxes pro-rated to date of closing using the long pro-ration method.

Closing Date:  On or before July 8, 2005, with time being of the essence.

Possession:  Date of closing.

Agency:  Sheridan & Associates, Auctioneers, Real Estate Broker, Appraisers, LLC and its representatives are Exclusive Sales Agents for the Sellers.

Disclaimer and Absence of Warranties:  All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Confirmation of Sale Agreement.  Announcements made by the Auctioneer at the time of the Auction will take precedence over any previously printed or oral information.  The property is sold on an “AS IS, WHERE IS” basis, and no warranties or representations, either expressed or implied, concerning the property are made by the sellers of the Auction Company.  Each bidder is responsible for conducting his/her own independent inspections, investigations, inquiries, and due diligence concerning the property.  The information contained in this brochure is believed to be accurate, but is subject to verification by all parties relying on it.  No liability for its accuracy, errors, or omissions is assumed by the Sellers or the Auction Company.  Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer.  The Sellers and the Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, legal capacity, etc.  All decisions of the Auctioneer are final.

Sale Manager / Realtor:  Matt Sheridan

Auctioneers:  Bart Sheridan, CAI

& Keith Sheridan

Toll Free:  1.866.AtAuction (282.8284)