If you are looking for a fairly priced house, a 4-bedroom, 2-bathhouse at 304 Fran Dr in Fayetteville, Tennessee is under auction. Presenting a “Second Chance,” this house is now less than its projected worth after not being sold at the initial foreclosure auction. The auction presents a limited-time chance to purchase this residence for a price maybe more affordable than those of a traditional sale. Right here all you need to know about the details of the property and auction.
Property Overview
Location: 304 Fran Dr, Fayetteville, TN 37334
Auction Date: February 3-5, 2025
Starting Bid: $135,000
Size: 4 Bedrooms, 2 Bathrooms, 1,225 sq ft, Lot size of 0.27 acres
Year Built: 1976
Property Type: Residential (Single-Family Home)
This home is located in Lincoln County and is a great option for those looking to invest in a property. It features four bedrooms, two bathrooms, and over 1,200 square feet of living space. The home sits on a 0.27-acre lot, providing enough room for outdoor activities or future improvements.
Auction Details
Auction Start Date: February 3, 2025, 9:00 AM CT
Auction End Date: February 5, 2025, 11:21 AM CT
The auction will be held online, and potential buyers can place bids within this timeframe. It’s important to note that the seller is open to pre-auction offers, so if you’re serious about buying, you can make an offer before the auction starts. All bids below the reserve price may still be considered by the seller.
Important Auction Conditions
- Cash-Only Transaction: This auction requires a cash offer only. Buyers must have the necessary funds or proof of financing ready to proceed.
- Occupied Property: The home is currently occupied. Buyers will not be allowed to inspect the property before closing and will be responsible for handling any eviction or rental agreement matters if necessary.
- As-Is Sale: The property is sold “as-is,” with no warranties on its condition. Buyers should understand that there may be defects, health hazards, or other issues with the property.
- No Buyer’s Premium: Unlike many auctions, this sale will not charge a buyer’s premium or additional auction service fees. However, buyers should expect closing fees that can range from $750 to $3,000.
What Buyers Need to Know
Interested purchasers have 24 hours after their winning bid to produce evidence of finances or a pre-qualification letter for bidding. Since the property is being offered “as-is,” prospective purchasers should take careful thought on any hazards associated with acquiring a house without prior inspection. Utilities are not functioning right now either, hence the property has been winterized.
The buyer will have to take care of any legal concerns about occupancy as the house is inhabited and answer for utility transfers following closing. Should title insurance not be obtained, the seller will convey the property using a Special Warranty Deed, or a Quit Claim Deed.
For purchasers searching for a house in a prime location at a possibly discounted price, the auction for 304 Fran Dr in Fayetteville offers a great chance. Still, there are a few crucial things to bear in mind like the occupied state of the home and the cash-only payment requirement. If you are thinking about this property, be sure you are completely ready with the required money and know all terms before bidding.
Those eager to adopt a “as-is” property will find great fit in this house, which can manage the accompanying obligations of buying an inhabited house. This is a limited-time chance to get a house that might not be otherwise accessible at this price.
Visit Home