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The house on Sturdivant Creek is being auctioned off next Monday in Birmingham. Did any of ya'll get that voice message on your phones?
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| Name: |
slownez
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| Subject: |
House for Auction
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Date:
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9/3/2008 8:59:44 AM
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I went by for the open house on Saturday to take a look with my contractor. The broker on duty was nice but couldn't or wouldn't answer many questions. The opening bid is $159k, but I believe the reserve bid is going to be closer to $300k. Plus you have to pay the auction company an additional 5% on your winning bid. My contractor estimated about $40k in needed improvements beyond the selling price. The house was foreclosed on by Countrywide and soon as you go to the auction site for more info, within minutes you get a call from Countrywide wanting to pre-qualify you for the amount you plan to bid. If you add the up the reserve bid price with needed improvement cost, there are probably better deals on the lake.
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| Name: |
John C
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| Subject: |
street address? website?
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Date:
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9/3/2008 1:42:58 PM
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anyone have the street address and / or the website of the auction company?
Thanks.
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| Name: |
Kizma Anuice
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| Subject: |
House for Auction
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Date:
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9/3/2008 2:34:21 PM
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do they stipulate a reserve, or is it a no reserve auction? people around here are crazy. i went to an auction, where they had the market value posted for various trips. people were bidding 40% above the stated market value. I just figured it was some kind of ego thing
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| Name: |
slownez
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| Subject: |
House for Auction
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Date:
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9/3/2008 3:49:40 PM
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They have a hidden reserve price and if the bidding does not make it to that price, Countrywide can decide not to take the highest bid and sell or re-auction at a later date. Based on what the broker was hinting at, I expect they are looking for $300k+ even though the bidding will start at $159k. The comment was made that if was going for less than that a broker or agent would have bought it prior to the auction company getting involved and put it back on the market for a profit.
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The website was ushomeauction.com This listing is #88 The price was $432,000 . They are starting @ $159,000. I believe the next door neighbors had a friend offer $200,000. earlier this year but had something not work out for them.
The home has a new septic system. It has an outdoor h/c shower enclosed as well as the 3/2. They put an overlay on the roof and then it had too much weight so it failed. They then put a new roof on it from what I understand. It does have the enclosed boat house. It does not have year round water. If it goes for $250,000 I would say thats a good price. The last owner paid $416 and the owner before that paid $197 The $416 added the 3rd bedroom bath, windows, porch, retaining wall etc...
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| Name: |
Kizma Anuice
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| Subject: |
House for Auction
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Date:
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9/3/2008 6:34:17 PM
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It is pretty much all about waterfront length, view, and level of the land.
does anyone know how much waterfront, what kind of view?
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| Name: |
JohnGalt
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| Subject: |
House for Auction
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Date:
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9/3/2008 7:29:01 PM
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160 on the water front.
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| Name: |
Lady
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| Subject: |
House for Auction
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Date:
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9/3/2008 8:05:58 PM
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Hope this link works........
URL: http://ushomeauction.com/property.php?auctionID=S-004&itemID=36943&venueId=224&start=0
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