REAL ESTATE AUCTION FORT SMITH, AR
June 2, 2023
FRIDAY JUNE 2
405 N 22nd St.
Fort Smith, AR
Directions: From Rogers Ave. turn South on S Greenwood Rd. Turn West on J St. Home is on the corner of S 26th and J.
Turnkey investment opportunity! The recently renovated Lincoln Apartments consist of 12 units with rents ranging between $600 – $700. This complex was recently taken down to the studs, remodeled, and leased. (4) 1 bedroom/1 bathroom units and (8) 2 bedroom/1 bathroom units with parking. Common laundry room. Current rent rolls are available by request!
10% Buyer’s Premium. Please click on ‘terms’ tab for complete list of terms.
Note: 11 units are currently leased, 1 unit has been left vacant to be shown prior to auction. Tenant pays electricity.
All announcements day of sale supersede this ad
Terms and Conditions
Looper Auction & Realty II, LLC
4525 Palestine Road,
Huntington AR 72940
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.