Second Sale Date:
Wednesday, June 5th @ 1:00 PM
More Information
Appraised amount is $351,000. Bidding starts at $234,000. Long standing community strip center with 6,320 SF built in 1967 and remodeled in 1988. 3 total units with the convenient store being the largest. Convenient store and bar produce $3,550 per month in lease payments. Long term tenants. The middle unit is vacant and is set up as a barber shop or hair salon. Previously leased for $1,000 per month. $42,600 current gross annual rents.
Lot Size: 6,320 SF building on .909 Acres.
Annual Taxes: $11,815
Plaintiff
The Huntington National Bank
Defendant Name
LALJI Corp.
Attorney
Jeff Madison
Viewing Dates
The convenient store and the bar are both open for business. Please visit each business during normal business hours. Do not bother the tenants.
Property Map
Basic Terms:
*This is a Foreclosure Auction ordered by the Franklin 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 $234,000.
*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. 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 http://www.ohiosheriffsales.com/download_forms for the form.
*A 10% buyer's premium will be added to the high bid to obtain the final selling price.
*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.
*Bid increment for Online Bidding is $100.
*When you place a bid, you can place a "Max Bid" and the software will bid for you in $100 increments. You will be notified by email 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.