American Eagle Auction & Appraisal Company
Presents

REAL ESTATE FARM AUCTION!

Wednesday, August 26, 2020
Real Estate Sells Immediately After The Personal Property Auction
Personal Property Auction Begins promptly at 10:30 a.m.

OPEN HOUSE

Wednesday, August 12th 5 p.m. - 7 p.m.

Wednesday, August 19th 5 p.m. - 7 p.m.

5520 Fenton Rd.
Fenton, Michigan 48430

Here it is!   Country living is done right with this historic post-Civil War era farmhouse built-in 1884 atop 54.58 acres. Complete with a 2,160 sq ft D-frame barn with farm utility buildings and more!

No doubt, this property is a dream come true for anyone who wants to live the quiet country life while enjoying agricultural endeavors and recreational fun. Roam the fields, tend to your herd, cultivate your garden, hunt the outstanding turkey and whitetail deer population and absorb the openness and quietness.

But it gets better, much better.  A very unique feature is the large 26.5’ x 106’ recreation building which is equipped with heat, restroom and large mechanics garage.  This building is your own ‘community center’ which is perfect for large family and community gatherings.  Let your creativity run wild as this building is perfect for a lot of things.  You must see to believe it! 

SNAP SHOT OF PROPERTY DETAILS

Property Number: 4708-01-100-007

Legal Description:  SEC 1 T3N R6E S 60 AC OF NW FRL 1/4, EXC BEG W1/4 COR, S88*E 889.99 FT, TH N2*E 263.98 FT, TH N88*W 898.79 FT, TH S 264 FT TO POB. 54.58 AC M/L SPLIT FROM 003, 11-87

Classified as: 101 (Agricultural – Improved

FARM HOUSE DETAILS

Year Built: 1884

Full Bath: 1

Square Foot: 1,369

Bedrooms: 2

Half Bath: 0

Acres: 54.58

Heat: Forced Air with Ducts

Water: Well

Sewer: Septic

Style: 13/4 - 2 Story

Foundation: Michigan Basement

THE AUCTION PROCESS: FREQUENTLY ASKED QUESTIONS

For hundreds of years, real estate has successfully sold at auction. The majority of the real estate auctions today don’t result from the foreclosure of distress situations, but rather are the result of a seller choosing a cost-effective, accelerate the method to sell a property.

An auction allows the seller to eliminate virtually all long-term carrying costs, passing the savings directly to the purchaser in the form of a reduced price.  The result is a win-win situation: sellers obtain immediate cash and buyers purchase properties at fair market value, the price determined by open, competitive bidding.

WHY IS THIS PROPERTY BEING SOLD AT AUCTION?   The auction method of selling this real estate is preferred by the family.  They wish to expedite the sale of the real estate due in part to their out-of-town commitments.

DO I NEED TO BE “PRE QUALIFIED” TO BID?  

No. However, it is important that should you become a successful bidder that you will be able to satisfy the balance within 30-days after the auction.   It is important to note that the sale of the home is sold without contingencies – including your ability to obtain financing.  If you are unable to close within 30 days after the auction, you will forfeit your $20,000 earnest money deposit that you put down on auction day.

I WANT TO BID.  WHAT DO I NEED TO DO?

1.      *  First of all, you should do your due diligence before registering to bid.   Learn all you can about the property. Attend the Open House (s). Ensure that your funds are secure so you can close within 30 days after the auction.

2.       * Understand that this is a cash sale.  No special financing is available such as a Land Contract or FHA Loans etc.

3.       * Obtain a $20,000 cashier’s check made payable to yourself

4.       * It’s time to register for the auction by completing a bidder's contract.   This form is available for download on this page. We recommend that you complete this registration before auction day.  However, you can register on the day of the auction.

5.       * Auction Day!  The live auction will take place at the residence.  No Internet bidding is available.  You must be a registered bidder to witness the actual auction.    The professional auctioneer will open the bidding, and you will have ample opportunity to bid a higher increment.   When the bidding has concluded, it is likely the home has a new owner.

6.      *  The successful bidder will now sign a Purchase Agreement and endorse the back of their Cashier’s Check.  The paperwork will go to the Title company for processing.  You will have 30-days to finalize your transaction.   Time is of the essence.

BENEFITS TO YOU – THE BUYER

·         * Smart investments are made as properties are usually purchased at fair market value through competitive bidding

·      * The  buyers know the seller is committed to sell

·        *  Buyers determine the purchase price

·         * Auctions eliminate long negotiation periods

·         * Auctions reduce time to purchase a property

·         * Purchasing and closing dates are known

·         * Buyers know they are competing fairly and on the same terms as all other buyers

·         * Buyers receive comprehensive information on property via due diligence information such as what we are doing here.

BROKER PARTICIPATION WELCOME.  CONTACT US TO REGISTER YOUR CLIENT