To register for the auction, you must have a valid credit card. Once this registration process is completed, you will receive an email notification from info@nessbros.com with further instructions on providing proof of funds. No bids will be accepted without sending proof of funds documentation. Please make sure to check your spam / junk email folder if you do not see this email notification. When sending proof of funds, be sure to provide the property address in the email subject line.
6,142sqft Modern Commercial Building with 5 Rental Units including 1 lease
BIDDING ENDS: Wednesday, December 4 @ 3:00 pm
OPEN HOUSES:
Wednesday, November 20 @ 2 - 3pm.........
Wednesday, November 27 @ 2 - 3 pm.........
Located @ 2379 N Main St., Bluffton, IN 46714........
MINIMUM STARTING BID IS $ 300,000.....
The Property is Being Offered by The Bankruptcy Trustee
The Property is Being Offered by The Bankruptcy Trustee
BIDDING ENDS: Wednesday, December 4 @ 3:00 pm
OPEN HOUSES:
Wednesday, November 20 @ 2 - 3pm
Wednesday, November 27 @ 2 - 3 pm
Located @ 2379 N Main St., Bluffton, IN 46714
MINIMUM STARTING BID IS $ 300,000
<<< Special Note: This is a Cash Sale. The sale of this property may be financed; however, the sale of this property IS NOT CONTINGENT to financing approval.>>>
Discover a fantastic investment opportunity with this modern commercial building built in 2019 and offering over 6,100 sq. ft. of versatile space. Designed to accommodate up to 5 rental units, this property currently includes a tenant under a 4-year lease generating over $29,000 annually with scheduled rent increases.
KEY FEATURES INCLUDE:
**5 Rental Units**: Four office suites and a unique 600 sq. ft. heated garage featuring a 26' high ceiling and a 16' x 12' overhead door.
**Independently Controlled Heating and Cooling**: Each unit has its own high-efficiency gas furnace, allowing tenants to manage their comfort.
**Expansion Potential**: Additional land is available for future growth on-site, offering exciting options for developers.
**Prime Location**: Situated St. Rd. 1 on Bluffton's main north-side traffic corridor, with excellent visibility near Lowes, ensuring maximum exposure.
**Originally Listed at $789,000: Starting bid at $300,000, presenting a tremendous investment opportunity.
This property is in impeccable condition and poised to offer solid income potential. Don't miss this chance to bid on a premium asset with growth opportunities!
ONLINE BANKRUPCT REAL ESTATE AUCTION NOTICE – CASH (not contingent on Financing)
BIDDING PROCEDURE BUYER'S ARE TO FOLLOW WITH NO WAIVER
DATE: December 4, 2024
SELLERS: Dustin Roach, Bankruptcy Trustee for Trent Prough Case # 23-11665
LOCATION: 2379 N Main St., Bluffton, IN 46714
LEGAL DESCRIPTION: Below is a partial legal description, the full one will be provided at closing.
22-27-12 .52A S 200' Of N 700' Of W 294' Sw/4 Ex St Of In R/W and 22-27-12 0.09A S 40' OF N 700' OF E 96' OF W 390' SW
SPECIAL NOTE:
--- BIDDERS PACKET: All bidders who have registered for the online auction can view copies of the offer to purchase and terms at nessbrosauctions.com on the specific property Auction Detail Page.
--- ONLINE REGISTRATION: Registration for this auction (online) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Purchase Agreement which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the Real Estate, all bidders must be signed in through www.BidNessBros.com. There is no fee to register, but a valid credit card will be required to verify identity and ensure payment of the Earnest Money, if applicable. By bidding you are representing to Ness Bros. Realtors & Auctioneers (“Ness Bros.”), and the Seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated, DO NOT BID or you will be bound by those terms and conditions. By bidding you agree to all disclosures.
--- CONDUCT OF THE AUCTION: The Seller and selling agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, validity of the credit card, fitness to bid, financial ability to buy, etc. All decisions of the Auctioneer are final. THE SALE WILL BE CONTROLLED BY AUCTIONEER SOFTWARE. Ness Bros is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid.
--- BIDDING: Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved by the way of verified identity and credit card information. The bidding will be open for minimum of 10 days. The auction ends at a predetermined time with an Overtime Period if necessary, which is defined as follows: if a bid is placed within five (5) minutes of the close of bidding, then another five (5) minute period commences from the time of the last bid until no bids are placed within the next five (5) minutes. The last bid shall be made final.
--- AGENCY DISCLOSURE & GENERAL OFFICE POLICIES: Ness Bros. will represent the Seller exclusively
unless a Ness Bros. Agent has a signed buyer agency agreement with Buyer, then that agent has a limited agency
with Buyer.
--- DISCLAIMER & ABSENCE OF WARRANTIES: All information contained online or in the brochure and related material is subject to the terms and conditions outlined in the Purchase Agreement. The Property is being sold on an "AS IS, WHERE IS" basis. No warranty or representation, either expressed or implied, concerning the Property, its condition, or the condition of any other components on the Property, is made by the Seller or Ness Bros. All sketches and dimensions online or in the brochure are approximate. The information contained online or in the Brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or Ness Bros. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.
--- TERMS: Earnest Money of 5% down or $3,000.00, whichever is greater, within 24 hours of the online auction closing. In the event the winning bidder fails to provide the Earnest Money within 24 hours, Ness Bros. is authorized to charge the credit card for the amount of the Earnest Money, or any portion thereof, and an additional administrative fee of 5% of the amount being charged. The balance is due in full upon delivery of the merchantable title and deed free and clear of all liens and encumbrances except as stated herein and subject to easements or restrictions of record. A Buyer’s Premium of 5%, or minimum of $3,000, whichever is greater will be added to final bid and included in the total contract price. All bids accepted on the Real Estate are subject to the Bankruptcy Trustee and the Bankruptcy Court's approval.
--- BANKRUPTCY COURT APPROVAL: Once the auction is concluded the winning bid will be submitted to the Bankruptcy Trustee for approval. Once the Offer is accepted in writing by the Bankruptcy Trustee, the Bankruptcy Trustee has up to 45 business days to obtain Bankruptcy Court approval. If Creditors file Objections to the Sale, it is possible it could take up to 90 days before the sale is finalized. I understand that I cannot withdraw my offer once I submit it to the Trustee. If Bankruptcy Court approval is not obtained, all funds paid to Ness Bros. will be returned, without interest.
--- TITLE POLICY: A preliminary title policy has been prepared by Lime City Title Co., which will be preparing the final title policy plus conducting the Closing. Seller and Buyer agree to use Lime City Title.
--- CASH CONDITIONS: The Earnest Money will be totally forfeited in the event the Seller accepts the successful bidder's Purchase Agreement in writing and the successful bidder subsequently refuses to proceed to Closing.
--- EXECUTION OF PURCHASE AGREEMENT: The successful bidder has earned the right to make an offer to the Seller; no sale has been completed. The bidder will be required to execute an Irrevocable Real Estate Purchase Agreement immediately following the close of the auction and provide the required Earnest Money within 24 hours to the Seller in a check payable to Ness Bros. Buyer's offer expires 11:59 P.M. (local time) seven days after the online auction date, unless Seller timely accepts it; the Earnest Money will be returned if Seller does not accept the successful bid as a primary or secondary offer, subject to any required approvals.
--- TAXES: There will be NO prorating of Real Estate Taxes. Buyer is responsible for all back taxes and tax penalties and all taxes hereafter. If at the time of closing the tax bill for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax bill available to the closing agent. The succeeding year’s tax bill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax bill available to the closing agent.
--- GUARANTY: Any individual submitting a bid or signing the Purchase Agreement on behalf of any entity agrees to be individually bound by all these terms and conditions and individually responsible for payment of the Earnest Money and the balance due.
--- POSSESSION: The possession of the Property shall be upon Day of closing, subject to tenant’s rights. by 5:00 P.M.
--- SURVEY: The Seller has a legal description for the property so no survey will be provided. If a survey is requested, it will be paid for by the Buyer.
--- CLOSING: Balance of the purchase price is due in cash at closing, which will take place, on or before the Twentieth (20th) day following Bankruptcy Court approval. The fee charged by any closing agent, including an attorney acting as a closing agent for both parties, or Buyer's lender acting in such capacity, for closing services shall be paid equally by the parties. Buyer will be responsible for paying a $345.00 administration transaction commission payable to Ness Bros.
--- AUCTIONEER RESERVES: Auctioneer Reserves the right to make changes to an auction, to split or combine lots, cancel, suspend or extend the auction event.
NOTE: Neither the Seller nor Ness Bros. is responsible for any personal property left in the residence and buildings, or on the land after the Real Estate possession is granted to Buyer and will be inherited by the new buyer.