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Auction Information
Auctioneer Mike Peterson Auction & Realty Service 716-665-0668
Auction Date Oct 19 Auction
Location
3 North Dow Street
Falconer, NY
Time 06:00PM
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Auction Listing
AuctionZip Auctioneer ID# 2531

TERMS AND CONDITIONS OF SALE

REAL PROPERTY LOCATED AT

402 WEST MAIN STREET, 3 & 11 NORTH DOW STREET, TOWN OF ELLICOTT,

VILLAGE OF FALCONER, COUNTY OF CHAUTAUQUA, STATE OF NEW YORK, 

IDENTIFIED AS TAX PARCELS: SECTION 371.14 BLOCK 1 LOTS 14, 15 & 16

WILL BE OFFERED FOR SALE AT PUBLIC AUCTION

ON WEDNESDAY, OCTOBER 19, 2016. BIDDING TO BEGIN AT 6:00 PM

 

These properties will be offered as one auction parcel which includes all three tax parcels and will not be subdivided in any manner.

 

Property #1 - 402 West Main Street – 371.14-1-16 / 5 apartment units / 4 occupied

Property #2 – 3 North Dow Street – 371.14-1-15 / 3 apartment units / vacant

Property #3 – 11 North Dow Street – 371.14-1-14 / 2 apartment units / vacant

(1.)  These properties are being offered for sale “AS IS, WHERE IS”, with no guarantees or warranties of any sort, either actual or implied, including but not limited to, plumbing, heating, electrical, interior and exterior of all buildings, any fixtures, and the land. Properties are serviced by Village water & sewer and purchaser is responsible for any and all repairs if required.

(2.) All property boundaries are approximate, and no guarantees of any kind are given with respect to the acreage shown on tax maps or referred to in any existing deeds, surveys, or sale literature. If a land survey is required or desired by purchaser it is the responsibility of Purchasers to order and pay for prior to closing.    

(3.)  Prospective Purchasers are responsible for inspecting the property, being knowledgeable about its physical condition and any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, and understanding closing costs and fees, PRIOR TO THE AUCTION. Auctioneer does not have access to the property and seller is from out of town so property is sold from the curb.

(4.)  The sale will be subject to the approval of the Seller within 48 hours of the auction. The Seller reserves the right to accept or reject any and all bids, for any reason whatsoever.

(5.)  The successful high bidders will immediately sign a Contract for Sale of Real Property and will place $ 3,500.00 in the form of cash or good check with Mike Peterson Auction & Realty Service to be held in their escrow account until closing. 

(6.)  The deposit will NOT be refunded if the sale is not completed due to the default of the Purchasers for any reason and therefore will be forfeited to the seller.

(7.)  The deposits WILL be refunded in full to the Purchasers if the sale is not completed due to the default of the Seller for any reason.

(8.)  The BALANCE will be due AT CLOSING, ON OR BEFORE November 20, 2016. POSSESSION will be granted at closing. Seller will maintain utilities in working order until closing. Seller will retain all rental income for property until the end of the month of closing. Rents are due 1st. of each month

 (9.)  The Seller shall furnish an INSURABLE TITLE to the Purchaser, free and clear of any liens or encumbrances, subject to any leases, easements, rights of way, or deed restrictions of record. All sellers’ gas, oil, mineral and timber rights will be conveyed to the purchasers at time of closing.

(10.)  CLOSING COSTS - The Seller will pay for the Title Search update, The Purchaser will pay for all other closing costs including, Revenue Stamps, TP 584 Filing Fees, Deed Recording Fees and RP5217 Filing Fees, and any costs in obtaining financing. Each will pay own attorney fees.

(11.)  The purchaser shall have possession of said premises and the right to collect rent from and after the closing date.

(12.) Michael W. Peterson is acting only as Sales Agent for the Seller, and has no personal interest in the property.

(13.) The Seller and or Auctioneer reserve the right to sell the property prior to the auction or cancel the auction for any reason.


     ANY  ANNOUNCEMENTS  MADE  BY  THE  AUCTIONEER  ON  THE  DAY  OF  THE SALE  WILL  TAKE  PRECEDENCE  OVER  ANY  PRINTED  MATERIAL.

     THE SELLER AND HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.

SELLER:   Miles & Linda Trimpey

ATTORNEY:   TBD

BROKER:      Michael W. Peterson, Mike Peterson Auction and Realty Service

                       1432 Kiantone Road, Jamestown, New York 14701

                       Telephone:  716-484-3387  Fax:  716-661-9629

                       E-mail: peteauction@hotmail.com

 

PROPERTY DESCRIPTIONS

 

LOCATION:

Property #1 - 402 West Main Street – 371.14-1-16

             5 apartment units / 4 occupied / $250 - $300 per month rent

Property #2 – 3 North Dow Street – 371.14-1-15 / 3 apartment units / vacant

Property #3 – 11 North Dow Street – 371.14-1-14 / 2 apartment units / vacant


No security deposits form any tenants

TAX ASSESMENT: #1 - $60,000.00 – Taxes - $2475

                                  #2 - $40,000.00 – Taxes - $1650

                                  #3 - $25,000.00 – Taxes - $1050

SCHOOL DISTRICT: Falconer Central School

Auctioneer does not have access to the buildings so they will be sold from the curb. 4 units in 402 West Main are occupied and the remainder of the buildings are vacant.




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