Name 131 W. Chestnut Street - Old Bridge Inn
Auctioneer McGinnis Auction & Appraisal Service
Type Online-Only Auction
Date(s) 11/22/2015 - 12/9/2015
On-Line Bidding Only - November 22 - December 9. Bidding will be a soft close bidding process and the bidding will begin to shut down at 5PM Dec., 9, 2015. If there are 2 or more bidders bidding at the last minute the bidding process will continue until all bids have been received, if there are no bids within 5 minutes of the extended bidding period then all bidding will close and shutdown.
Preview Date/Time Preview: November 23, 1 – 5PM & November 30, 5 – 7PM additional times may be allowed with an approved 24 hour notification by the seller through the auction & real estate companies.
Checkout Date/Time A non-fefundabe down-payment of $20,000 must be present at signing of the purchase contrat within 24 hours of the auction closing. Signing & downpayment will take place at 911 E. Court Avenue, Jeffersonville, Indiana 47130
Location 31 W. Chestnut Street, Jeffersonville, Indiana 47130
Jeffersonville, IN 47130
Buyer Premium 10% will be added to your high bid.
Description
Real Estate Auction - Internet Bidding Only Old Bridge Inn - 131 W. Chestnut Street Jeffersonville, Indiana 47030 Bidding Closes: Shutdown begins 5PM - December 9, 2015 This is an internet auction with online bidding, bid from the comforts of your office or home. This property located at 131 W. Chestnut offers approximately 3000SF in the main house with a health department approved kitchen, 4 bedrooms, 5.5 baths, 2 fireplaces (one operational) sitting room, living room and a formal dining room. Plus the property offers a separate carriage house set up as living quarters offering over 800SF w/1 bedroom, and 1 full bath. This property is now being operated as a B&B and could be used for many other purposes, i.e. deli, sandwich shop, ice-cream parlor, antique shop and much more; the property is currently zoned Neighborhood Commercial (NC). Any other potential use of this property should be verified by the potential buyer. This property was originally built in 1836 and is ready for new ownership. The current owners want to retire and are now offering this property up for its next owner. The property is located across the street from entrance of the Big Four Station and the walking bridge ramp in the heart of Jeffersonville and is only minutes away to downtown Louisville, I-64, I-65 & I-71. This property is a focal point of Jeffersonville from the Big Four Bridge ramp. Last updated on 11-23-2015
General Real Estate Auction Terms: 1. A 10% buyer’s premium will be used to determine the final contract purchase price. 2. There will be a $20,000 non-refundable down payment made payable to the auction company within 24 hours of the conclusion of the internet auction and this must be delivered to 911 E. Court Avenue at which time signing of the purchase contracts will take place. 3. A valid Visa or MasterCard is required to register & bid during the auction, and the bidder must have a minimum availability of the $5000.00 to bid. 4. The $20,000 cashier’s check should be from a local area servicing bank or financial institution and must be presented to the auction company at 911 E. Court Avenue, Jeffersonville, Indiana 47130 within 24 hours of the conclusion of the auction. Any useage of an out of area bank arrangements must be approved & verified by the auction company prior to the close of the auction. 5. Failure to deliver certified funds for the down payment as specified in the online auction terms will result in a credit card transaction or other appropriate legal actions for the non-refundable down payment. 6. Balance of the final purchase price must be presented to the sellers at closing within 45 days from the day of contract acceptance. 7. All property taxes due for the May 2016 tax period shall be prorated between the buyer/sellers. 8. This property is being offered to the public and will be sold subject to no contingencies in regards to inspections or the policies and procedures of any lending instuition, once there has been an accepted purchase agreement between the buyers & sellers. 9. All terms and conditions posted online shall take precedence over all previous announcements. 10. The property will be sold as-is with no warranty, refunds or exchanges. The property will be sold only after exceeding the seller’s undisclosed reserve. 11. It shall be the bidder's responsibility to determine suitability of the property prior to the close of the bidding process. 12. Lead Based Paint inspection period to begin November 24, 2015. Real estate will be available for inspections or preview beginning November 23 and by appointment only. 13. A public preview period/open house period will be posted online at the auction company website and is tentatively scheduled for November 23, 1 – 5PM & November 5 – 7PM. 14. All real estate related inspections are welcome at buyers expense prior to the close of the auction, but property is being sold as-is. Watch this website for details or updates. 15. A 1.5% cooperating broker’s fee will be offered on this property for the agent representing the successful buyer with prior registration only, no exceptions, and agents must attend all showings & inspections with their respective buyer to be compensated. 16. This property is being offered subject to prior sale, all outside offers will be presented to the sellers through the real estate brokerage firm and if accepted by the seller all online bidding will be terminated and this auction will be cancelled. 17. The Auctioneer and Real Estate Broker are acting as agents only for the seller; the auction company & real estate company staff reserve the right to bid. 18. For additional information or to schedule inspection appointments please call: John McGinnis, CAI, CES, CAGA, at 812-282-7253 concerning auction procedures, all other matters may be directed to Fran Evola, Broker, at 812-288-6080. Selling on behalf of Linda & Robbie Williams, Owners/Sellers. John McGinnis, Indiana Auctioneer's License AU19600081. McGinnis Auction & Appraisal Service, Jeffersonville, Indiana AC30900136
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 2,500.00 USD
Currency USD
Buyer Premium 10% will be added to your high bid.
Payment Terms
A non-refundable down-payment of $20,000 in certified funds, i.e. cashier's check, must be presented within 24 hours after the auction closing. Signatures and payment can be made at 911 E. Court Avenue, Jeffersonville, Indiana 47130
Post Auction: A non-refundable down-payment of $20,000 must be presented to the auction company within 24 hours after the close of the auction.