Real Estate Auction

Saturday, August 15th @ 10 am

Commercial Property & Lots

TERMS AND CONDITIONS OF SALE

REAL PROPERTY LOCATED AT

N, E, & S ROUTE 62, 28 CREEK ROAD, TOWN OF ELLINGTON

COUNTY OF CHAUTAUQUA, STATE OF NEW YORK, 

IDENTIFIED AS: ALL OF TAX PARCELS: SECTION 289.00 BLOCK 1 LOTS 25, 26

                ALL OF TAX PARCELS: SECTION 288.19 BLOCK 1 LOTS 24,25,26,27

ALL OF TAX PARCEL: SECTION 305.00 BLOCK  1 LOT 19

WILL BE OFFERED FOR SALE AT PUBLIC AUCTION

ON SATURDAY, AUGUST 15, 2020. BIDDING TO BEGIN AT 10AM

The auction will be held on location at the property / Online bidding available

WILL BE OFFERED AS 4 AUCTION LOTS and not combined in any form.

Open House Preview

Wednesday, August 12th 6PM-7:30PM

Auction Parcels: (All measurements & acreage is approximate)

Lot # 1: 18 N Route 62: +/- 2.72 acre vacant lot

All of Tax Parcel 289.00-1-25:   .72 +/- acres with 142’ road frontage on N Route 62 and 188’ road frontage on Route 62

All of Tax Parcel 289.00-1-26:   2 +/- acres with 515’ of road frontage on N Route 62

Lot#2:  4998 S Route 62, 729 E Route 62: garage & store

All of Tax Parcel 288.19-1-24: .25 +/- acres with 66’ of road frontage on S Route 62 and 127’ of road frontage on E Route 62 with a 1,256 sq ft gas station.

All of Tax Parcel 288.19-1-25: .06 +/- acres with 22’ of road frontage on S Route 62 and 20’ of road frontage on E Route 62 classified as a parking lot.

All of Tax Parcel 288.19-1-26: .50 acres with 121’ of road frontage on E Route 62 with a 2,064 sq ft building that has a small food market, warehouse and apartment.

Lot # 3: E Route 62: parking lot east of store

All of Tax Parcel  288.19-1-27: .35 acre vacant lot with 99’ of road frontage on E Route 62 that’s 122’ deep.

Lot # 4: 28^th Creek Rd: +/- 1.6 acre vacant lot

All of Tax Parcel  305.00-1-19: 1.6 acre triangular vacant lot.

(1.)  This property is being offered for sale “AS IS, WHERE IS”, with no guarantees or warranties of any sort, either actual or implied, including but not limited to the septic/sewer, water system, plumbing, heating, electrical, interior and exterior of all buildings, any fixtures, and the land. For Auction Lot #2, the Purchaser will pay for a Chautauqua County health department septic and water test at closing and will pay for any and all repairs or updates if required by Chautauqua County.

(2.) All property boundaries are approximate, and no guarantees of any kind are given with respect to the acreage shown on tax maps or referred to in any existing deeds, surveys, or sale literature. If a land survey is required or desired it will be the responsibility of Purchaser’s to order and pay for prior to closing.

(3.)  Prospective Purchasers are responsible for inspecting the property, being knowledgeable about its physical condition and any existing zoning regulations, leases, easements, rights of way, or other restrictions regarding its use, and understanding closing costs and fees, PRIOR TO THE AUCTION.

(4.)  The sale will be subject to the approval of the Seller within 48 hours of the auction. The Seller reserves the right to accept or reject any and all bids, for any reason whatsoever.

(5.)  The successful high bidder will immediately sign a Contract for Sale of Real Property and will place the following deposits: Lots 1, 3 & 4 $2,500.00 per lot, Lot 2 $5,000 in the form of cash or good check with Mike Peterson Auction & Realty Service to be held in their escrow account until closing. 

(6.)  The deposits will NOT be refunded if the sale is not completed due to the default of the Purchasers for any reason and therefore will be forfeited to the seller.

(7.)  The deposits WILL be refunded in full to the Purchasers if the sale is not completed due to the default of the Seller for any reason.

(8.)  The BALANCE will be due AT CLOSING, ON OR BEFORE October 1, 2020. POSSESSION will be granted at closing.

 (9.)  The Seller shall furnish an INSURABLE TITLE to the Purchaser, free and clear of any liens or encumbrances, subject to any leases, easements, rights of way, or deed restrictions of record. All sellers’ oil, gas, mineral, & timber rights will be conveyed to the purchasers at time of closing.

(10.)  CLOSING COSTS - The Seller will pay for the Title Search update. Purchaser’s will pay for Revenue Stamps, TP 584 Filing Fee, Deed Recording Fee, RP5217 Filing Fee, and any costs in obtaining financing. Each will pay own attorney fees.

(11.)  ALL PROPERTY TAXES will be PRORATED as of the CLOSING DATE.

(12.)  Seller and/or Auctioneer reserve the right to cancel the auction for any reason prior to set auction date.

(13.) Michael W. Peterson is acting only as Sales Agent for the Seller, and has no personal interest in the property. 

ANY ANNOUNCEMENTS MADE  BY  THE  AUCTIONEER  ON  THE  DAY  OF  THE SALE  WILL  TAKE  PRECEDENCE  OVER  ANY  PRINTED  MATERIAL.

     THE SELLER AND HIS SALES AGENTS WILL NOT BE HELD RESPONSIBLE FOR ANY ACCIDENTS SHOULD THEY OCCUR BEFORE, DURING, AFTER, OR BECAUSE OF THE AUCTION.

SELLER: Estate of Robert A Speas/ Timothy Speas, Executor

             345 N Rte 62

             Ellington, New York  14732

ATTORNEY: Wright Wright & Hampton Attys

                   525 Fairmount Ave

                   Jamestown, NY  14701

                   (716) 483-1122

BROKER:      Michael W. Peterson, Peterson Auction & Realty LLC

                   Broker License #: 10491210026

                   164 Ivory Street, Frewsburg, New York 14738

                   Telephone:  716-665-0668            

                   Fax:  716-661-9629

                      E-mail: peteauction@hotmail.com  

                   Web Site:  www.petersonauction.com 

PROPERTY DESCRIPTIONS

Lots will be sold individually, they will not combined in any manner.

AUCTION LOT# 1: Location: 18 N Route 62     School: Randolph     2 vacant lots

 Section 289.00  Block 1  Lot  25  .72 acre   Full Market Value: $  2,353.00

 Deed Book: 2267  Deed Page: 131  Total Taxes: $ 93.66  (C/T: $69.94  School: $23.72)

 Section 289.00  Block 1  Lot  26   2 acres    Full Market Value: $14,353.00

 Deed Book: 1718  Deed Page: 23  Total Taxes: $ 571.31 (C/T: $426.64  School: $144.67)

AUCTION LOT# 2:  Location: E Main St  Route 62         School: Falconer

                   Gas Station, Parking Lot, Food Market/Warehouse

Section 288.19  Block 1 Lot 24  .25 acre  Full Market Value:  $ 42,471.00

Deed Book: 1956  Deed Page: 306  Total Taxes: $ 2,223.65 (C/T: $1,555.48 School: $668.17)

1940’s gas station w/ 1,256 sq ft building.  

Section 288.19  Block 1 Lot 25  .06 acre  Full Market Value $ 588.00

Deed Book: 1956  Deed Page: 306  Total Taxes: $ 30.79  (C/T: $21.54  School: $ 9.25)                       

L-shaped parking lot.

Section 288.19  Block 1  Lot 26  .50 acres   Full Market Value: $ 41,176

Total Taxes:  $ 2,155.88   (C/T: $ 1,508.01  School: $ 647.81)

Food market, warehouse area, apartment w/ parking lot.

AUCTION LOT# 3:  Location: East Route 62     School: Falconer     Vacant Lot

Section 288.19  Block 1  Lot 27   .35 acres   Full Market Value: $ 2,118.00

Deed Book: 2404  Deed Page: 391   Total Taxes: $ 110.88  (C/T: $ 77.56  School: $ 33.32)

AUCTION LOT# 4:  Location: 28^th Creek Road       School: Falconer   Vacant Lot

Section 305.00  Block 1  Lot 19   1.60 acres   Full Market Value: $ 1,647.00

Deed Book: 2252  Deed Page: 562   Total Taxes: $ 85.02  (C/T: $ 59.11  School: $ 25.91)

 Triangular shaped vacant lot.