Auction Details
COMMERCIAL REAL ESTATE AUCTION
The Magnolia Place Event Center
Wednesday, October 1
1:00 PM
104 North 13th St
Van Buren, AR
Directions: From Main Street turn North on North 13th St go 1 block
Historic building that has been renovated into a quaint event center. Over 4,550 sf in this unique property. Upstairs is a large sanctuary-like open room with original but refinished wood flooring & wood trim, new large windows for lots of natural light, a balcony, kitchenette & bathroom. Downstairs is an open space for gatherings with a full kitchen and bathroom. Renovations have begun in the one-room studio apartment over a garage which is also on the property. All on a large corner lot with lots of parking just one block off of Main Street. This is a rare opportunity to own a lovely event space in the River Valley!
10% Buyer’s Premium. Click on “terms” tab for a full list of terms.
All announcements day of sale supersede this ad
Terms and Conditions
Looper Auction & Realty II, LLC
4525 Palestine Road,
Huntington AR 72940
(479) 996-4848
Terms
Registration finalizes – Each bidder agrees to terms and conditions of sale. Do not bid unless you agree to be bound by these terms. Property to be sold as is where is with faults, without express or implied warranties of any kind. Buyer is to perform all inspections prior to auction with professionals of their choosing. Looper Auction & Realty II, LLC represents the sellers only and does not inspect properties on behalf of buyers and assumes no responsibility for the correctness of any descriptions.
Buyer must make a 10% non-refundable deposit at the conclusion of bidding. Buyer must also execute the sales contract and property disclosure (if available) which will be posted prior to the auction. Balance of purchase price along with all closing costs will be due within 30 days. Buyer to pay all closing costs including 10% buyer’s premium, title insurance, revenue stamps, closing fees, survey, filing costs, and any other fees. Seller will cure any title problems if necessary. Taxes will be pro-rated to day of closing. Properties sell subject to court, bank or seller approval. The court, bank or seller retains their right to bid or have someone bid on their behalf. Possession will be upon closing with filing of deed. 10% deposit will be refunded if seller defaults. Property is sold with no contingencies, buyer should conduct all inspections required by lender prior to auction. If a lender is being used, buyer should be pre-qualified.
Purchase price is amount of highest bid plus 10% buyer’s premium to make a total purchase price. Buyer to make a 10% non-refundable deposit of the total purchase price.
***Example – High bid is $500,000
$500,000 plus $50,000 = $550,000
10% non-refundable deposit = $55,000
All information given orally or in writing was derived from sources believed to be correct but is not guaranteed. All real estate dimensions are only approximations. Buyers shall rely entirely on their own information, judgment and inspection of the property and records.
