If you’re looking to buy a new home or investment property, there’s a foreclosure auction coming up for the property at 1460 4th Place NW, Center Point, AL. This is a three-bedroom, two-bathroom house that will be auctioned soon. The auction begins on February 4, 2025 and runs until February 6, 2025. The starting bid is $100,000. If you’re interested in bidding, there are some important things to know before you participate. Keep reading to find out all the details about the auction.
Property Overview
The 1460 4th Place NW property is a single-family home with 1,433 square feet of living space. It has three bedrooms and two bathrooms. The property is on a 0.29-acre lot and was built in 1973. This home is located in Center Point, Alabama, which is a great area for those looking for a family-friendly neighborhood.
Here’s a quick breakdown of the property:
- Property Type: Residential
- Sub-Type: Single-Family Home
- Beds: 3
- Baths: 2
- Size: 1,433 square feet
- Lot Size: 0.29 acres
- Year Built: 1973
- Auction Start Date: February 4, 2025
- Auction End Date: February 6, 2025
- Starting Bid: $100,000
Auction Details
The auction for 1460 4th Place NW will take place online, starting at 9:00 AM CT on February 4, 2025, and ending at 11:25 AM CT on February 6, 2025. The starting bid for the property is $100,000, but the seller is willing to entertain pre-auction offers. These offers must be made in writing, with a signed contract and earnest money deposit.
If you are interested in bidding on this property, here are the key things you need to know:
- Cash-Only Transaction: This auction is for cash buyers only. You must have the funds available or be pre-approved for financing before bidding.
- Proof of Funds: You must provide proof of funds or a pre-qualification letter within 24 hours of the auction.
- No Buyer’s Premium: There is no buyer’s premium or auction service fee, but you will be responsible for escrow and closing fees, which can range from $750-$3000.
- As-Is Condition: The property is being sold as-is, which means that the buyer will accept the property in its current state, with no warranties or guarantees. It is important to understand that the property may have defects or other issues.
- Occupancy: The property is currently occupied. Buyers will not be able to access the property before the auction, and any issues with eviction or occupancy will be the responsibility of the buyer.
Important Notes for Potential Buyers
- Owner-Occupant Only: This auction is only open to owner-occupant buyers, government entities, or HUD-approved non-profits. Buyers must agree to use the property as their primary residence.
- Utilities: The utilities have been turned off and the property is winterized. The buyer will need to handle any utility issues after closing.
- Eviction and Occupancy: Since the property is occupied, the buyer will be responsible for handling any eviction or lease issues if necessary. The buyer must ensure that they understand the legal status of the property’s occupants before bidding.
Special Conditions to Keep in Mind
- Redemption Period: There is a redemption period for the property, which means that the previous owner may be able to reclaim the property within a specific time frame. The redemption period expires on January 17, 2026.
- Closing Requirements: The closing must take place within 30 days of the seller’s acceptance of the offer. Buyers will be required to pay all closing costs, and it is the buyer’s responsibility to handle any title issues.
If you are looking for a home or investment opportunity in Center Point, Alabama, the property at 1460 4th Place NW is being auctioned soon. The auction starts on February 4, 2025, with an opening bid of $100,000. Make sure you understand the cash-only terms, as-is condition, and occupancy requirements before placing your bid. Take the time to do your research, and consult with legal or real estate professionals to make sure you are prepared. This auction could be a great chance to purchase a home at a discounted price, but be aware of the risks involved.
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