Real estate For Sale By Public Auction
Historical Prince Edward County Property
1 Walton Street, Picton
Monday September 8th at 11:00 am on site.
Opening Bid $350,000.00
Offers will be received by Sullivan Auctions prior to sale date which may result in the sale of this property.
Property details available
1 WALTON STREET
PICTON , ONTARIO
PRINCE EDWARD COUNTY
PROVINCE OF ONTARIO
ZONING Core Commercial
Roll Number 020-020-228002-0000
LEGAL DESCRIPTION – Plan 24 lot 604 lot 615
TAXES $3247.44 per year
REAL ESTATE-selling with an opening bid of 350,000.00.
This outstanding Prince Edward County property located nears the downtown of Picton. John Pepper Downes built this historical property in 1858. (See Historical Book “Settlers dream” page 226)
The home boasts a recently restored second floor and the utilities of the house are updated with electrical and boiler heating updates.
The main floor is in need of attention and is made up of 4 substantial rooms with fireplaces and 10 ft ceilings.
The grounds are made up of mature landscaping
TERMS AND CONDITIONS
This property is being offered for sale by public auction with an opening bid of 350,000.00
It is understood that all potential bidders should with them that day have in their possession from a recognized financial institution proof of their ability to complete the transaction, and supply that proof to the auctioneer upon registering for the auction previous to the auction beginning.
Property is sold with the following terms and conditions .
1. The purchaser shall execute an agreement of purchase in the form provided by the auctioneer immediately after being declared the highest bidder.
2. The purchaser shall submit a deposit of 25,000.00 Canadian dollars made payable to Robert Sullivan & Sons Auctioneers Ltd by certified cheque after being declared the highest bidder.
3. Completion and closing of the transaction shall be handled by qualified agents for both the buyer and seller.
4. Balance due from the purchaser shall be paid to the seller on or before the closing date. The transaction regarding the property will close in 30 days from the auction date or on such other date as mutually agreed upon by both parties.
5. This is a cash sale and is not contingent on purchaser’s ability to obtain financing. All financing should be in place previous to auction date.
6. The purchaser shall accept the property in “as is” condition as of the closing date and the purchaser specifically agrees that neither the seller nor the auctioneer makes any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser as to the condition or fitness of the property, environmental or otherwise or any improvements. All descriptions, measurements and acreage provided by the seller and Sullivan Auctioneers are to be used as a guide only. The purchaser shall have satisfied himself as to the location and condition of the property and all descriptions prior to the bidding.
7. The auctioneer is acting as an agent for the seller and not as an agent for the purchaser.
8 No personal property of the Sellers shall be conveyed with the property, unless specifically included in the purchase agreement .
I, have read and understand all the above terms and conditions as they apply to this auction.
156 DENYES ROAD
R.R.# 1 PLAINFIELD
AGREEMENT TO PURCHASE PROPERTY
1 WALTON STREET
PICTON , ONT
The Purchaser agrees to purchase the Property from the Seller on the following terms.
I, (name of purchaser) _________________________________________agree to purchase the
property for ___________________________________________________ Canadian Dollars.
Terms as Follows-
DEPOSIT: A deposit of $25,000.00 (Twenty – five thousand Canadian Dollars) made payable to Sullivan Auctioneers Ltd which will form part of the purchase price on SEPTEMBER 8 2014. The deposit will be NON REFUNDABLE unless the Seller fails in their obligation pertaining to the transaction.
Clear title to the property is guaranteed by the Seller.
Balance of _________________________________________in Canadian dollars payable upon closing on the agreed date of ______________________________________________2014, or before made payable to the Seller or their agents.
All buildings on the Property and Land included in the sale will be and remain at risk of the Seller until the Closing Date. After that time all risk will be assumed by the Purchaser. The Purchaser will take possession of the property and assume all responsibilities at 12:00 pm (Noon) Day of Closing.
This agreement once signed by all parties is considered accepted and irrevocable.
ABSENTEE TERMS AND CONDITIONS
In the event that you are unable to attend the auction on September 8th 2014, we wish to make it possible for you to participate even though you are absent.
It must be understood that all rules apply to those in attendance also to those who bid in the absentee format.
Sullivan Auctioneers should receive all absentee bids, no less than 3 days prior to the auction date of September 8th 2014
All absentee bids must include a $25,000.00 certified cheque made payable to Robert Sullivan Auctioneers Ltd. No bids will be accepted without this deposit- no exceptions.
Bidding will be done on the bidder’s behalf by Sullivan Auctioneers as if the bidder were present and the bidder’s purchase will be obtained at the lowest bid possible.
Absentee bids are confidential prior to the auction and bidding will not be commencing with the highest absentee bid.
In the event the absentee bid is successful the deposit money held in trust will be applied to the purchase price of the property.
In the event the absentee bid is unsuccessful the deposit money will be refunded.
Return bid form to
156 Denyes Road
Return bid form to
156 Denyes Road
ABSENTEE BID FORM
Bank Phone Number_______________________________________________
Bid Amount in Canadian Dollars_____________________________________
PURCHASERS SIGNATURE SELLERS SIGNATURE
PURCHASERS NAME SELLERS NAME
WITNESS SIGNATURE WITNESS NAME
PRE AUCTION OFFERS
This property will is being offered for sale by live public auction on SEPTEMBER 8TH 2014
It it is possible to make a pre auction offer on or before AUGUST 30TH 2014
In the event that the pre auction offer is accepted then the property may be sold before the live auction date of September 8th 2014
Offers will be received by email or fax.
Fax 613 477 1511 (Sullivan Auctioneers)