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Income Producing Investment Property – Brick Rancher

AUCTION
603 E. Gladstone Avenue, ,
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** AUCTION ** Investment Property – Income Producing Rental!  Brick rancher at 603 Gladstone Avenue, Richmond, VA 23222 with 3 bedrooms, 1 bath, and 1,060 +/- sf!!  The current rent is $895.00 per month. This real estate auction will be held on Thursday, August 24th at 6:00 p.m. at The DoubleTree by Hilton Hotel at 1021 Koger Center Blvd., Richmond, VA 23235.  This hotel is near Johnston-Willis Hospital just off Midlothian Turnpike and was formerly a Holiday Inn Express.  TERMS:  A 10% Buyer’s Premium will be added to the high bid to determine the contract price, a $5,000 deposit in the form of Cash or a Cashier’s Check made payable to yourself is required from the Buyer at the conclusion of the auction.  If you are the successful bidder, you will sign the check over to A.B. Cole and Associates.  The closing will take place on or before Friday, September 22nd by 5:00 p.m. For more information, download Bidder Information Package at www.ABCole.com or www.Richmond-Auction.com    VAAF 0796

Note:  The List price is NOT the Selling Price, but the tax assessed value.  The Selling Price will be determined the day of the auction. 

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AUCTION TYPE: Real Estate

** AUCTION ** Investment Property – Income Producing Rental! Brick rancher at 603 Gladstone Avenue, Richmond, VA 23222 with 3 bedrooms, 1 bath, and 1,060 +/- sf!! The current rent is $945.00 per month. This real estate auction will be held on Thursday, August 24th at 6:00 p.m. at The DoubleTree by Hilton Hotel at 1021 Koger Center Blvd., Richmond, VA 23235. This hotel is near Johnston-Willis Hospital just off Midlothian Turnpike and was formerly a Holiday Inn Express. TERMS: A 10% Buyers Premium will be added to the high bid to determine the contract price, a $5,000 deposit in the form of Cash or a Cashiers Check made payable to yourself is required from the Buyer at the conclusion of the auction. If you are the successful bidder, you will sign the check over to A.B. Cole and Associates. The closing will take place on or before Friday, September 22nd by 5:00 p.m. For more information, download Bidder Information Package at www.ABCole.com or www.Richmond-Auction.com VAAF 0796

PROPERTY FEATURES:

1 bath
Brick rancher
Current rent $895.00
Investment & Income

AUCTIONEER: Ernie Rogers

TERMS: Partial Terms for the Multi-Property Auction on
August 24, 2017 at 6:00 p.m. at
The DoubleTree by Hilton Hotel Richmond
at 1021 Koger Center Blvd., Richmond, VA 23235

603 E. Gladstone Ave., Richmond, VA 23222
5318 Parker Street, Richmond, VA 23231
516 Northside Avenue, Richmond, VA 23222
3705 Edgewood Avenue, VA 23222

Partial Terms of Sale: All bidders must register for the auction by completing a Bidder Registration Form and sign that they have received a copy of the complete terms of the auction. A 10% Buyer’s Premium will be added to the high bid at the auction to determine the final contract sales price. As an example, if you bid $100,000 for a property at auction, the contract sale price will be $110,000. Another example would be if you bid $200,000 for a property at auction, the contract price will be $220,000. A deposit of $5,000 in the form of Cash or a Cashiers Check (made payable to yourself) is required at the conclusion of the auction. If you are the successful bidder, you will sign the Cashiers Check over to A.B. Cole & Associates. The balance is due at closing. The closing will take place on or before Friday, September 22, 2017 by 5:00 p.m. unless specified otherwise or as soon thereafter as necessary to correct any defects in title. If you are not prepared to make the required deposit and close within the timeframe stated, please do not bid. All properties sold at auction are sold “As Is – Where Is – With All Faults” without any warranties or representations neither expressed nor implied. This is an “ALL CASH” transaction, financing is not a contingency of the sale. It is understood and agreed that fee simple title, at the time of closing, will be conveyed to the Purchaser by Warranty Deed. The Auctioneer reserves the right to bid on behalf of the Seller up until the reserve price is achieved. The auction is subject to Seller approval. The auctioneer is an agent for the Seller. Announcements made the day of sale take precedence over any printed material or other oral statements made. All information contained herein is believed to be correct, but is not guaranteed. All purchasers must independently investigate and confirm any information or assumption on which any bid is based. Note: Under Title X, the purchaser of a single-family residence built before 1978 has a maximum of 10 days to inspect the property for the presence of lead-based paint. The period for the inspection ends at 5:00 p.m. the day prior to the auction. All purchasers must independently investigate and confirm any information or assumption on which any bid is based. If the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, Seller shall retain the earnest money deposit as a measure of liquidated damages. This provision shall in no way affect the right of Seller and Auctioneer to rely upon and to exercise any other legal remedies or recourse available to them, including without limitation seeking specific performance or monetary damages, in the event the closing contemplated herein does not occur due to default by Purchaser. Purchaser further agrees to pay all attorney fees, court costs and other costs of collection/enforcement incurred by Auctioneer and Seller due to a default by Purchaser. The auction is subject to cancellation, additions, deletions, or postponement. The real estate taxes will be pro-rated to the date of closing. For more information, please contact A.B. Cole and Associates. VAAF 0796

Address: 603 E. Gladstone Avenue
City:
Area:
State/County:
Zip: 23222
Country: Richmond
Property Id : 141702
Bedrooms: 3
Bathrooms: 1
Auctioneer : Ernie Rogers
Listing Number: 45085-16070
Lot Size (AC): 0.14000
Event ID: 72334
Event Type: Real Estate Auction
Property Building Size (SF): 1060
Year Built: 1967
Office ID: 2436
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Rogers, Ernie

United Country - River City Auction And Realty

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