Postponed from May 26 to May 28.
Bidding starts at $187,334. Restaurant and party venue with 14,076 SF and 10 total parcels. Previously "Sterle's Slovenian Country House". Huge parking lot.
Lot Size: 1.23 Acres
Annual Taxes: $16,772
1401 East 55th Properties, LLC
Lead AuctioneerBarry Baker
*This is a Foreclosure Auction ordered by the Cuyahoga County Common Pleas Court. The foreclosure process clears all liens and encumbrances on the subject property.
*The property sells with a minimum opening bid of $187,334.
*The required deposit is 10% of the high bid.
*In the case of an online purchase, the successful bidder will be required to directly deposit the required amount into the trust account of Ohio Sheriff Sales at any Chase Bank branch OR initiate a wire transfer to said trust account by 5:00pm the day of auction. Purchaser may also have the deposit charged to the credit card provided at the time of registration with a 4% processing fee added to the deposit amount. ACH deduction is also available with no additional cost by providing your bank account information to the PSO. This method is highly recommended. If deposit has not been made by 12:00pm the day following the auction, the credit card provided at the time of registration will automatically be charged along with the 4% processing fee.
*The real estate is sold As-Is with no contingencies. All inspections (if available) must be done prior to Auction.
*Close within 30 days of court confirmation.
*No contract is signed after the auction. A one-page buyer information form is the only document that is required by the court. See THIS LINK for the form.
*Buyer pays all closing costs.
*Private Selling Officer deed given at closing with no liens or back taxes.
*The purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover. (This would typically only be in effect for a property that sells for less than the amount of taxes that are owed.)
*Bid increment for Online Bidding is $1,000.
*When you place a bid, you can place a "Maximum Bid" and the software will bid for you in $1,000 increments. You will be notified by email and text if you are out-bid.
*Bid Extensions: If a bid is received within the last 5 minutes of the Auction end time, bidding will extend for a 5-minute period of time. Bid extensions continue until all bidding is exhausted.
*Default: Be aware, if you are unable to close within 30 days of court confirmation, your deposit is non-refundable, and you could be liable for other costs and possibly be found in contempt of court.