Auction

DRAFT

Online Auction of Three Homes


These three homes are in abysmal condition and are in desperate need of a buyer to save them from demolition.

The Booth-Wyatt House 142 Chestnut Street




The James House 937-939 Green Street





Viewing and Bidding Schedule

  • Buyers MUST view a home IN PERSON before a bid on that home can be accepted or considered
  • Buyers may request individual showing of a home before October 24, 2020
  • Open houses will be held on Saturday, October 24, 2020 as follows:
    • 142 Chestnut Street — 9:00 a.m. to 10:30 a.m.
    • 937-939 Green Street — 11:00 a.m. to 12:30 p.m.
    • 870 Pine Street — 2:00 p.m. to 3:30 p.m.
  • If desired, inspectors or contractors may accompany buyer (no children)
  • There are no utilities at these homes — bring a flashlight
  • Bids will be accepted on this webpage through noon EDT on Friday, October 30, 2020 (see below)
  • Bids received will be posted on this webpage at 1:00 p.m. and 7:00 p.m. daily
  • Bidders may rebid in an amount at least $100 more than posted high bid before noon on Friday, October 30, 2020
  • Qualified high bids will be accepted by noon on Friday, November 6, 2020

Acceptance and Closing Schedule

  • Upon acceptance, buyer must provide $5,000 earnest money and return signed terms and conditions by Friday, November 13, 2020
    • Seller will revoke acceptance if buyer fails to do so and
    • Seller will consider other qualified bids
  • Closing must occur on or before December 21, 2020
    • Buyer to pay closing cost fees
    • Seller will revoke acceptance if buyer fails to do so and
    • Seller will retain earnest money as liquidated damages and
    • Seller will consider other qualified bids
  • An additional $15,000 payment plus the bid price will be required at closing
  • Deposit and additional payment (total $20,000) will be placed in an escrow account
    • Escrow will be paid back to buyer on presentation of paid invoices for materials or contractor services
  • Buyer will sign quit claim deed back to seller to be used only if buyer fails to perform the conditions below

Additional Terms and Conditions

  • All work requiring construction permits must have permits before work begins
  • Exterior work must abide by the Old West End Design Guidelines
  • Exterior stabilization must begin within 45 days of closing and be complete within six months of closing
  • Buyer must obtain certificate of occupancy within 18 months of closing
    • If so, seller relinquishes quit claim deed and releases remaining escrow balance if any
    • If not, seller records quit claim deed and retains escrow balance
  • Buyer must reside in (not sell or rent) the home for a minimum of five years from the closing date
    • If not, seller has right of first refusal to repurchase at market value

Questions

Questions may be emailed to Friends of the Old West End


Bids Received

142 Chestnut Street

The Booth-Wyatt House 142 Chestnut Street


October 1, 7:00 p.m. — None received


937-939 Green Street

The James House 937-939 Green Street


October 1, 7:00 p.m. — None received


870 Pine Street

The Carter House 870 Pine Street


October 1, 7:00 p.m. — None received


Place a New Bid

  • By submitting this bid, you agree to all of the terms and conditions above. If your offer is to be considered at the close of bidding you will be required to verify that you have sufficient funds for the deposit and the payment to escrow, (total $20,000) PLUS the amount of your bid. You will also be required to supply the full names to appear on your deed, your full present address, your previous rehab experience, your social security number(s), and your birth date(s) for background and credit check(s). While it is the seller's intent to place these homes with new owner(s), the seller reserves the right to reject any bid for any reason.
 

Verification