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Auction Details

PANAMA CITY BEACH, FL: SOLD AT AUCTION!

SOLD AT AUCTION!

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Brief Description

Now is your chance to purchase this 11-Unit apartment complex at your price!  Located on the south side of Front Beach Rd in Panama City Beach it simply doesn't get much better then this for a rental income producing asset.  Don't miss this!

 

 

Auction Schedule

Live On-Site Auction

Began: 08/08/14 at 12:00 PM CDT

Location: 4938 Hispaniola St, Panama City Beach, FL 32405

Inspection

Began: 08/02/14 at 10:00 AM CDT

Ended: 08/02/14 at 2:00 PM CDT

Location: 4938 Hispaniola St, Panama City Beach, FL 32405

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Details

  • 1 & 2 Bedroom Units
  • 5738+- gross living area
  • Projected Gross Annual Income - $117,600
  • Public Beach Access Nearby
  • Opportunity for Investment
  • Selling as a whole
  • Year Built: 1972
  • Lot Size: .26+- Acres
  • Annual Taxes (2013): $2,609.06
  • Bidders responsible for all Due Diligence Prior to Auction
  • Public Sewer Tap Fees to be Paid by Winning Bidder
  • Selling As Is, Where Is
  • PRE AUCTION OFFERS ARE ENCOURAGED

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Auction Terms

Real Estate Terms:

To register to bid, you will need a cashier's check  in the amount of $1,000 payable to Yourself.  Winning bidder will endorse this check over to McNeese Title upon signing purchase contract.  Check will be handed back to each unsuccessful bidder at the conclusion of the sale.  Buyers will pay all closing costs, with the exception of title insurance, which the seller shall provide.  Taxes and insurance shall be prorated. 

The high bidder will be required to place a bid deposit equal to 10% of the winning bid.  Said deposit to be held by and payable to McNeese Title.  Personal or Company checks are acceptable. A photo copy of your Driver's License will be made.

When applicable, Buyer agrees to fully cooperate in Seller's 1031 Exchange, at no expense to Buyer. 

Buyer’s Premium:

A buyer’s premium of ten percent (10%) will be added to the high bid to determine the total price to be paid. The cashier's check that is required to register to bid can be used towards the 10% down.

In the event the property offered at auction is purchased or negotiated to be purchased by the bidder within 12 months following the date of auction, Bidder agrees to pay said 10% Buyer's Premium to NATIONAL REAL ESTATE AUCTION GROUP immediately upon demand. 

Broker Participation:

All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. NREAG will be happy to pay a commission to the Florida licensed and qualified broker whose properly registered buyer is the successful bidder at the auction and closes on the sale. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out, signed and notarized). The form may be obtained by calling or by visiting our website at www.nreag.com. This form must be submitted to the NATIONAL REAL ESTATE AUCTION GROUP no later than 24 hours prior to the Auction.

No Broker participation permitted with Absolute Auctions.

Closing:


The closing shall take place no later than thirty (30) days after the auction at the offices of McNeese Title, LLC, at 36468 Emerald Coast Pkwy Destin, FL, Phone: (850) 337-4242. You must bring either a Cashier’s, Certified Check or wired funds at closing. No purchase shall be contingent on financing or any other contingencies. 

Possession:

Possession shall be upon closing.

Condition:

Property is selling As Is, Where Is.  Buyer responsible for all Due Diligence Prior to Auction.  Announcements made at the Auction supersede all printed material. All information included herein was derived from sources believed to be correct, but is not guaranteed.

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AuctionServices
Specializing in the rapid liquidation of real estate utilizing the auction method, our team creates an aggressive marketing plan featuring a blend of online, direct mail and targeted media to maximize a property's exposure. National Real Estate Auction Group is set up to provide clients the highest possible level of service by focusing on details to guarantee each aspect of the auction is conducted professionally, ensuring the best chance of success at the highest possible price on auction day.

12598 Emerald Coast Parkway, Suite 201 • Miramar Beach, FL 32550 • 850-269-SOLD (7653)