Auction Closed
Xenia Community Schools Residential Development Land Auction
Residential Development Land in Xenia, Ohio
Auction #240886
Description
** ABSOLUTE AUCTION ** Wednesday, May 31st at 1:00 pm. 5.25 Acres of Residential Development Land in Xenia, Ohio, with R1-C residential zoning. Selling at ABSOLUTE AUCTION with no reserves or minimum bids. Includes a 15-year real estate tax abatement and all utilities are available. 21 Potential residential lots available. Great development and investment property. Formerly the location of Spring…
Ended
Wed, May, 31st
11:59 PM
US/Eastern
Address
860 Ormsby Drive
Xenia, OH
Xenia, OH
Description
ABSOLUTE AUCTION
XENIA RESIDENTIAL DEVELOPMENT LAND
5.25 ACRES ♦ R-1C ZONING
15-year RE Tax Abatement Available
21 Potential Residential Lots
No Reserves or Minimum Bid
Sells Wed, May 31st at 1:00 pm
XENIA RESIDENTIAL DEVELOPMENT LAND
5.25 ACRES ♦ R-1C ZONING
15-year RE Tax Abatement Available
21 Potential Residential Lots
No Reserves or Minimum Bid
Sells Wed, May 31st at 1:00 pm
Property Address: 860 Ormsby Drive, Xenia, Ohio (formerly Spring Hill Elementary)
Auction Address: 819 Colorado Drive, Xenia, Ohio (Xenia Community Schools, Board Office)
Auction Address: 819 Colorado Drive, Xenia, Ohio (Xenia Community Schools, Board Office)
Open House: Monday, May 22 from 4:00 - 5:30 pm (or by appointment)
* LIVE AND ONLINE BIDDING AVAILABLE *
5.25 acres of Residential Development land located in the Spring Hill neighborhood of Xenia. This property is selling at ABSOLUTE AUCTION with no reserves or minimum bids. All public utilities are available and the property is zoned R-1C (One Family Residential (7,500)). A 15-year real estate tax abatement is available to the developer and new home owners once the property is developed through the City's Community Reinvestment Area (CRA) program. Contact the City for details on this program. 21 potential new residential lots available.
This was the former site of the Spring Hill Elementary, which was removed from the property after the Xenia Community Schools built and opened new elementary facilities in 2012. This is a great development and investment opportunity in a growing community. Located on the southern portion of Xenia near South Detroit Street, the Athletes in Action campus and Legacy Village. Contact our office at (937) 766-2300 for full details or to schedule a visit.
This was the former site of the Spring Hill Elementary, which was removed from the property after the Xenia Community Schools built and opened new elementary facilities in 2012. This is a great development and investment opportunity in a growing community. Located on the southern portion of Xenia near South Detroit Street, the Athletes in Action campus and Legacy Village. Contact our office at (937) 766-2300 for full details or to schedule a visit.
Xenia Community Schools
Board of Education
Owner
Marketing
Directions
Property Location: 860 Ormsby Drive, Xenia, Ohio
From downtown Xenia, go south on South Detroit Street (US 68) to left on Home Avenue (to stay on US 68) to right on Ormsby Drive. Watch for signs.
Auction Location: 819 Colorado Drive, Xenia, Ohio
From downtown Xenia, go west on Main Street to left on Progress Drive to right on Colorado Drive to left into the Xenia Community Schools Board Office location. Watch for signs.
Terms
REAL ESTATE SALE TERMS
Bidding Procedure: The property will sell at Absolute Auction to the highest bidder. No reserve or minimum bid.
Buyer’s Premium: A 10% surcharge will be added to the final bid amount to form the contract price.
Acceptance of Bid Prices: The successful onsite bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Successful online bidder will sign a Confirmation of Sale Agreement within 24 hours after the Auction. Bidding IS NOT CONDITIONAL UPON FINANCING. The Owner shall have thirty (30) calendar days following the Purchaser’s signing of the Confirmation of Sale Agreement to fully sign and execute the Agreement. If the Owner’s Board of Education (“Board”) does not resolve to execute the Agreement within thirty (30) days after the date of the Auction, then Purchaser may rescind his or her offer by written notice to the Board, provided that such notice is given prior to the Board’s execution of the Agreement. Rescission or Revocation of the Offer by the Purchaser during these 30 days shall result in the Purchaser’s forfeiture of the earnest money deposit downpayment.
Downpayment: Purchaser will deposit $10,000 down payment with Auction Company upon signing of Confirmation of Sale Agreement. Onsite Purchaser will remit deposit date of auction. Online Purchaser to deliver to Auctioneer via overnight mail, wire transfer (plus $35 wiring fee), or personally delivered funds the down payment within 24 hours of the auction's completion. Personal delivery may be made at 200 Parkview Lane, Cedarville, OH. Deposit is not considered to be delivered until personally received by Auctioneer.
Real Estate Taxes: Real Estate is currently exempt from real estate taxes. No taxes to be credited at closing.
Survey: Owner to provide new boundary survey as one tract at closing.
Closing Date: Closing to occur by the later of (a) on or before 45 days following the signing and acceptance of the purchase agreement by the Owner or (b) on or before 30 days following the owner’s filing of the new boundary survey with Greene County. If the date falls on a weekend or national holiday, then the closing will occur on or before the next business day.
Real Estate Tax Abatement: Purchaser is responsible for inquiring with City of Xenia regarding real estate tax abatement availability through the City’s Community Reinvestment Area (CRA) program.
Possession: Date of closing.
Agency: Sheridans LLC and its representatives are Exclusive Sales Agents for the Seller.
Disclaimer & 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 Seller or 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. Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller 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.
Buyer’s Premium: A 10% surcharge will be added to the final bid amount to form the contract price.
Acceptance of Bid Prices: The successful onsite bidder(s) will sign a Confirmation of Sale Agreement at the auction site immediately following the close of bidding. Successful online bidder will sign a Confirmation of Sale Agreement within 24 hours after the Auction. Bidding IS NOT CONDITIONAL UPON FINANCING. The Owner shall have thirty (30) calendar days following the Purchaser’s signing of the Confirmation of Sale Agreement to fully sign and execute the Agreement. If the Owner’s Board of Education (“Board”) does not resolve to execute the Agreement within thirty (30) days after the date of the Auction, then Purchaser may rescind his or her offer by written notice to the Board, provided that such notice is given prior to the Board’s execution of the Agreement. Rescission or Revocation of the Offer by the Purchaser during these 30 days shall result in the Purchaser’s forfeiture of the earnest money deposit downpayment.
Downpayment: Purchaser will deposit $10,000 down payment with Auction Company upon signing of Confirmation of Sale Agreement. Onsite Purchaser will remit deposit date of auction. Online Purchaser to deliver to Auctioneer via overnight mail, wire transfer (plus $35 wiring fee), or personally delivered funds the down payment within 24 hours of the auction's completion. Personal delivery may be made at 200 Parkview Lane, Cedarville, OH. Deposit is not considered to be delivered until personally received by Auctioneer.
Real Estate Taxes: Real Estate is currently exempt from real estate taxes. No taxes to be credited at closing.
Survey: Owner to provide new boundary survey as one tract at closing.
Closing Date: Closing to occur by the later of (a) on or before 45 days following the signing and acceptance of the purchase agreement by the Owner or (b) on or before 30 days following the owner’s filing of the new boundary survey with Greene County. If the date falls on a weekend or national holiday, then the closing will occur on or before the next business day.
Real Estate Tax Abatement: Purchaser is responsible for inquiring with City of Xenia regarding real estate tax abatement availability through the City’s Community Reinvestment Area (CRA) program.
Possession: Date of closing.
Agency: Sheridans LLC and its representatives are Exclusive Sales Agents for the Seller.
Disclaimer & 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 Seller or 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. Neither the Seller nor the Auction Company assumes liability for its accuracy, errors, or omissions. Conduct at the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller 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.
Xenia Community Schools
Board of Education
Owner