| Description |
Commercial Building & Warehouse - 102 Beech St. - Crossett, AR
View by appointment, call Jimmy Orrell 870-723-9116
Bidding is open now - Bidding closes Aug 11th at 11am
Building 1. 4800 sq ft Commercial building, brick with glass front and paved 15 x 60 parking area, last used as a retail/wholesale automotive parts store. Front half has retail & counter space, back half has offices rest room and shelving space. High traffic area with easy access, near other retail establishments, industrial area and residential. This building has a couple of leaks in the roof.
Building 2. 1800 sq ft wood frame with tin siding and roof used for warehouse/storage. Scrap metal and contents of this bld will be sold separately.
Terms and Conditions:
Summary: Property sells free and clear of all liens and encumberances, subject to Seller confirmation, "as is", by legal description, with no contingencies or warranties other than good title by Warranty Deed and Title Insurance. 10% buyer premium. 3000 dollars Non-Refundable Down payment as earnest money day of auction with balance due at closing in 30-45 days.
Details:
Bidders must be registered with name, address, valid phone #, email address & credit card
Subject to Sellers' Confirmation: Seller has up to 48 hrs. to accept or reject the final bid
Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price.
Purchase Agreement/Contract: At the conclusion of the auction, the successful bidder will sign a purchase agreement in the amount of their bid plus the 10% buyer premium. When accepted and signed by the seller, this agreement becomes the purchase contract.
Down Payment as Earnest Money: With purchase agreement, Bidder will submit a $3000 non-refundable downpayment to be deposited and escrowed in Orrell Auctions & Real Estate PLLC Trust Account. Down payment will be credited to buyer at closing or returned to the bidder if Seller rejects the bid. Balance of purchase price required in approximately 30-45 days at closing. If you cannot close you will forfeit your down payment. Down payment is non-refundable unless seller fails produce marketable title or otherwise breaches contract
Acceptable Currency for down payment: Cash, cashier's check. Or, good personal or company check pre-approved by auctioneer or accompanied by a bank letter guaranteeing payment.
Warranties & Contingencies:
1. Property sells "as is" with no warranties from the seller other than good title. Inspections should be conducted before the auction as sale is not contingent on repairs. If you bid, you are agreeing that you have inspected or waive the right to inspect the property and that you will accept the Property in its current condition at the price you bid.
2. Financing: Property sells with no contingencies for financing, which should be arranged before bidding. If you bid then cannot secure financing and fail to close, you will lose your down payment/earnest money.
3. Corners of Property, if marked, is for your convenience only. Accuracy is not guaranteed. Bidders are responsible for verifying accuracy to their own satisfaction.
Survey: Property sells by legal description on current deed and Ashley County Courthouse records. If new survey is desired or required by Buyer, new survey will be at Buyer's expense.
Title: Seller will guarantee good title at closing by providing owner's title insurance and a warranty deed free of all liens and encumbrances but subject to any easements of record.
Closing will be in approximately 30 - 45 days from auction.
Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, fees of Buyer's attorney and any other fees associated with Buyer's loan, if any.
Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation Property taxes will be prorated as of the date of closing.
ORIGINAL
PT LOT 1
A PART OF LOT NUMBER 1 IN
BLOCK NUMBER 12, ACCORDING TO
THE PLAT OF THE CITY OF
CROSSETT, ARKANSAS, FILED IN
THE OFFICE OF THE RECORDER
FOR ASHLEY COUNTY IN PLAT
RECORD BOOK NO. 1 AT PAGE
NO.
3, MORE PARTICULARLY
DESCRIBED AS FOLLOWS;
STARTING AT THE NORTHEAST
CORNER OF BLOCK NUMBER 12
THENCE RUN SOUTH ALONG THE
WEST BOUNDARY LINE OF BEECH
STREET 89 FEET TO THE POINT
OF BEGINNING; THENCE RUN
SOUTH ALONG THE WEST BOUNDARY
LINE OF BEECH STREET 92 FEET;
THENCE RUN WEST 167.3 FEET
TO AN ALLEY; THENCE RUN NORTH
96.5 FEET; THENCE RUN EAST
167.6 FEET MORE OR LESS TO
THE POINT OF BEGINNING.
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