SOLD! Commercial Real Estate – Portland, IN

611 South Meridian Street (US 27), Portland IN – Former Witt’s KnuckleBuster auto repair garage

 APRIL 17, 6:00 p.m.

 

Real Estate Auction

– Commercial Real Estate, 1,820 square foot building on .36 acre double lot

– Former Auto Repair Garage

– Tanks removed, approved by state

– US 27 frontage

 

 Mark Warsco, Trustee

IN Bankruptcy Case #11-10609

LIVE ON-SITE AUCTION
Began: 04/17/14 at 6:00 PM EDT
Location: 611 S. Meridian Street, (US HWY 27), Portland, IN 47371

Thursday, April 17 – 6:00 p.m.

 

Court-ordered Public Bankruptcy Auction

 

611 South Meridian Street (US 27), Portland IN

Former Witt’s KnuckleBuster auto repair garage

 

(Ordered by: Mark Warsco, Trustee; RE: IN Bankruptcy Case #11-10609, John Arthur Witt)

 

– Zoned Commercial Real Estate, 1,820 square foot building on .36 acre double lot

– Ample US 27 frontage

– Sign pole and awning intact, rehabbed exterior

– Fuel tanks are removed; IDEM environmental No Further Action Request has been approved! (see documents below for details) 

 

 

Auction held live and on-location

Thursday, April 17th, 6:00 p.m.

Inspection by appointment

 (Doors open at 1 hour prior to auction)

 

 

 

 

Click Here for Jay County Assessor’s Information

 

Environmental Documents:

Click Here for IDEM No Further Action Approval document

Click Here for Monitoring Well Abandonment Report by Mundell & Associates

 

 

 

Terms of Sale:   

-DOWN PAYMENT: Buyer(s) will pay 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cashier’s check, personal check or corporate check. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
-ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
-TITLE/DEED: Seller shall provide an owners title insurance policy in the amount of the purchase price. Seller shall provide a Trustee’s Deed.
-CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
-POSSESSION: Possession shall be on day of closing, immediately following the closing.
-REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing.
-ACREAGE: All tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
-SURVEY: The Seller will not provide a new survey; any survey will be at the expense of the Buyer(s).
-AGENCY: AAA Auction Service, Inc., and its representatives are exclusive agents of the Seller.
-DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, and no warranty or representation, either expressed, or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PUBLISHED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

 

Auctioneers:  Ron Steinman, President; Mike Roy, Agent;  AAA Auction Service, Inc., Lic. #AC3002615

Ordered by: Mark Warsco, Trustee; RE: IN Bankruptcy Case #11-10609, John Arthur Witt

Terms of Sale:   

-DOWN PAYMENT: Buyer(s) will pay 10% down payment on the day of auction with the balance in cash at closing. The down payment may be made in the form of cashier’s check, personal check or corporate check. Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.
-ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auctions site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
-TITLE/DEED: Seller shall provide an owners title insurance policy in the amount of the purchase price. Seller shall provide a Trustee’s Deed.
-CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the auction. Costs for an insured closing shall be shared 50:50 between Buyer(s) and Seller.
-POSSESSION: Possession shall be on day of closing, immediately following the closing.
-REAL ESTATE TAXES: The Real Estate taxes shall be pro-rated to the day of closing.
-ACREAGE: All tract acreage, dimensions and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.
-SURVEY: The Seller will not provide a new survey; any survey will be at the expense of the Buyer(s).
-AGENCY: AAA Auction Service, Inc., and its representatives are exclusive agents of the Seller.
-DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, and no warranty or representation, either expressed, or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final.
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PUBLISHED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

 

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AAA Auction Service, Inc.

http://www.AAAAuctionService.com

2110 McConnell Drive New Haven, IN 46774

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