Searching Youngstown, Ohio for a reasonably priced house? Here’s your opportunity to bid on a roomy 3-bedroom, 1.5-bathroom house at 1196 E Boston Ave. This item is on a “Second Chance” auction, hence it is being sold at a discounted price under its estimated worth. Starting on February 3, 2025 and running until February 5, 2025 is the auction This might be a fantastic possibility for you whether your search is for investment property or a new house!
Property Details
Nestled on a 0.72-acre lot in Mahoning County, this property boasts three bedrooms, one.5 baths. Built in 1920, the house has a big 2,736 square foot single-family footprint. It features a loft, a detached 4-car garage, several covered porches. The house had renovations in 1991 including changes to the plumbing, furnace, electrical system, and drywall insulation. The attic also provides more property area with a tandem room measuring 15 x 13 and 19 x 13.
Special Auction Notes:
- This is a CASH ONLY auction.
- The seller will cover taxes, HOA fees, and utility liens.
- The auction will not charge any buyer’s premium or auction service fees.
- If your bid is accepted, closing must happen within 30 days.
- A Proof of Funds or pre-qualification letter will be required within 24 hours after the auction ends.
- Buyers are responsible for all closing fees, ranging from $750 to $3000.
What You Need to Know
Occupied Property
The house is occupied right now, hence purchasers will not be able to visit it until the sale is finalized. You will have to manage the procedure of gaining ownership of the property at closing. Dealing with leases, eviction, or other concerns with the occupancy of the property might all fall here. Before bidding, be sure this approach makes sense for you.
Property Condition
The property is sold exactly as it is, hence the seller is not liable for any repairs. The house can have trash, safety or health risks, or flaws. It may also be in a Special Flood Hazard Area, hence if you are worried about floods or other environmental hazards, you should also consult local authorities.
Utilities
Currently switched off, the utilities of the property have been winterized. When examining the property, it’s crucial to budget for the buyer’s responsibility for turning the utilities on following closing. Remember too that, regardless of any inspections, the seller will not switch on utilities before closing.
Closing and Transfer of Title
The seller will either a quitclaim deed or a Special Warranty Deed transfer the property to you after you win the auction. Should you decide to get title insurance, you will get the Special Warranty Deed. Should you not obtain title insurance, you will get a quitclaim deed. If the buyer so choose, they are liable for paying any related expenses and obtaining title insurance.
For those searching for a reasonably priced house, this auction for 1196 E Boston Ave in Youngstown, Ohio presents a fantastic prospect. It is crucial to understand, nevertheless, the state of the property and that it is being sold just as it is. Furthermore, given the occupancy of the home, there might be issues with possession that you have to deal with following the auction. This might be a great opportunity to get a house at a discounted price if you are ready for a project and have the financial means for a cash-only purchase. Just be sure to give the auction’s terms and conditions some thought before bidding.
Important Notes:
- Be sure to contact a local title agency or real estate attorney for a property-specific closing cost estimate.
- Remember, utilities are off and the property is winterized, so plan accordingly for any repairs or inspections.
- Don’t forget to verify occupancy status and be ready to handle any necessary eviction or lease negotiations.
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