The house at 1196 E Boston Ave in Youngstown, Ohio can be exactly what you are looking for if you are seeking for a house with wonderful location. For those ready to make a small investment in some work, this house is now under auction and could be a great prospect.
Whether your search for your first house or you are an experienced real estate investor, knowing the salient features of this property is absolutely vital. Let’s go into the specifics of this property so you might decide with knowledge before bidding.
Second Chance (previously unsold at foreclosure auction)
Current Bid
$73,224
Auction Duration
Ends in 26 hours (as of the time of writing)
Key Features of the Home
Families with several cars or those seeking additional storage space would find the detached 4-car garage ideal.
Spacious Living Areas: The home offers a large living space of 2,736 square feet, giving you plenty of room to spread out.
Enjoy the outside on one of the covered porches of your house, ideal for visitors or leisure.
As of 1991, the property had improvements to the drywall insulation, furnace, electrical, plumbing, and plumbing systems, which can save you time and work on repairs.
Unique Aspects
The house has a double room attic measuring 15 by 13 and 19 by 13. This might be a fantastic location for an office, extra storage, or perhaps transformed into more living quarters.
Built in 1920, the house has great character and can be the ideal canvas for someone who enjoys older homes and their distinctive features.
Auction Details
Current Status
The auction has not yet met the reserve price, hence the house won’t sell unless bids reach a particular level determined by the seller.
Every bid must be made in increments of $10,000, hence if you would want to bid strongly for the house, be ready.
Auction Ending: Bidders have a limited window to act as the auction closes on Wednesday, January 22, 2025, at 11:39 AM CT.
Important Auction Conditions
Selling this property as a cash-only offer means that purchasers have to be prepared to pay the entire sum up front. No financing or loans can be used.
Unlike many other auctions, this one appeals to individuals who wish to save extra expenses as there is no buyer premium.
The property is sold “As-Is, Where-Is,” hence buyers have to accept the house as it is right now. Any repairs and enhancements following purchase will also fall under your purview.
Buyer Responsibilities
Proof of Funds
You must show that you have the money required to finish the purchase before bidding. Should you pay in cash, you will need a bank letter or financial account statement proving enough funds.
Property Occupancy
The property is occupied, hence before closing you will not be able to personally check the house. Should you intend to purchase the property, you will be in charge of managing the lease agreements or eviction policies for the present inhabitants, should need arise.
Utilities and Closing
Utilities: The property has been winterized and its utilities are off right now. Planning for repairs and inspections calls on you to take this into account.
Usually running between $750 and $3,000, closing fees will be paid by the buyer. To have an estimate for your particular situation, be sure to ask a local title agency or real estate attorney.
Closing Date: The closing must happen within 30 days of the seller accepting your bid.
Important Considerations for Buyers
Understanding why purchasing a property at auction differs from conventional home-buying procedures can help you to bid wisely. Here are some salient features to bear in mind:
Purchasing the property “As-Is,” you are taking it with all of its defects, damage, or required repairs. Nothing before or after the sale is fixed by the vendor.
There will be no pre-sale inspections since the property is occupied; you will not have access for a comprehensive check before the auction closes. One should realize that the state of the house is not assured.
After closing, you will be in charge of the property, which could entail handling current tenants and guaranteeing utility transfer.
For someone ready to labor to repair a historic house, the property at 1196 E Boston Ave, Youngstown, Ohio offers a special chance. Although the property has great potential given its size, modern systems, and vast lot, there are certain issues to take into account particularly with relation to its occupied status and “As-Is” state.
For individuals with cash on hand and a strong wish to invest in a fixer-upper, this auction could offer a fantastic opportunity to find a house below its assessed value.
Make sure you investigate, get ready with evidence of money, and understand the obligations you will have once the auction closes before bidding. There is little time to act as the auction closes soon, but this property might be highly valuable to the suitable buyer.