A division of Ohio Real Estate Auctions
1-877-BID-OHIO (243-6446) 

Performing foreclosure auctions and judicial
sales for banks and municipalities

Ohio's Private Selling Officers

Comfort Suites, Wooster, Built in 2018


More Information

Bidding starts at $ coming soon. Appraised at $7,200,000.  4 story, 80 room,  Comfort Suites built in 2018. 54,501 interior SF. Fitness Center, Indoor heated pool, exterior sun deck and picnic area, Breakfast room, WiFi.

There are no financials to provide. Verbally per the owner of the hotel, the occupancy rate for 2019 was 48% with a gross revenue of $1,300,000. 2020 YTD occupancy as of mid December was only 28% with a gross revenue of $704,000.

Lot Size: 3.962 Acres

Annual Taxes: $133,780


Plaintiff

West Town Bank and Trust

Defendant Name

Lieben Wooster LP

Attorney

Reimer Law

Viewing Dates

Please visit during normal operating hours.


Property Map


Lead Auctioneer

Barry Baker
Email Barry

W: 937-581-3037
F: 614-635-3474


Basic Terms:

*This is a Foreclosure Auction ordered by the Wayne County Common Pleas Court. The foreclosure process clears all liens and encumbrances on the subject property.

*The property is appraised for $7,200,000 and sells with a minimum opening bid of $4,800,000.

*The required deposit is 10% of the high bid.

*In the case of an online purchase, the successful bidder will be required to initiate a wire transfer to Ohio Sheriff Sales' trust account by 5:00pm the day of auction.

*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.

*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. (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 $10,000.

*When you place a bid, you can place a "Maximum Bid" and the software will bid for you in $10,000 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.

 

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