Are you perhaps looking for an investment or a new house to live in? One fantastic choice for you may be 689 Steege Hill Rd in Corning, New York. This residential property is now for auction and has several features you should give some thought before bidding.
The important facts will be broken out in this post to provide you understanding of what you need to know about this auction, including property specs, the auction process, and buyer special considerations.
Property Details
| Property Information | Details |
|---|---|
| Location | 689 Steege Hill Rd, Corning, NY 14830 |
| Property Type | Residential |
| Sub Type | Single-Family |
| Size | 976 sq ft |
| Lot Size | 0.89 acres |
| Year Built | 1977 |
| Bedrooms | 3 |
| Bathrooms | 1 |
| Current Bid | $105,000 (Bidding Open) |
| Auction Ends | Wednesday, January 22, 2025 |
| Property ID | 368978 |
With three bedrooms and one bathroom spread across 976 square feet of living area, this house offers Built in 1977, the property covers practically one acre of land (0.89 acres). For those seeking a fixer-upper or a project to start from scratch, it presents possibilities.
Auction Process
The auction for this land will last from January 20, 2025 until January 22, 2025 at 11:57 AM CT. Should your interest arise, you have a bid window anyplace before the auction ends. With $25,000 raises, the current bid is $105,000. Though bids are available, as of yet none have been placed.
Remember that this auction is a “Second Chance” offer, hence the property did not sell in a past foreclosure auction. This allows purchasers a unique chance to get the house for possibly less than its first evaluate worth.
Important Notes for Bidders
Before placing a bid, be sure to take note of the following important considerations:
- Cash Only Transaction:
The auction calls for cash payment, thus you have to be able to pay for the property in whole with current money. Should you intend to bid, you must provide evidence of enough money within 24 hours following the end of the auction. - Buyer’s Premium and Fees:
Unlike many other auctions, there is no buyer’s premium or auction service charge included into the final price. The buyer will be liable for any escrow and closing expenses, which might run from $750 to $3,000, though. To acquire an idea of these expenses, speak with a local real estate attorney or title agency. - Condition of the Property:
The property is occupied and sold “as-is,” hence pre-sale inspections and access will not be conducted. This is a big factor since the state of the house is unknown and can have safety issues or flaws. You will have to consider these expenses and possible difficulties since the utilities are also off right now and the property has been winterized. - Transfer of Title:
Should the buyer obtain title insurance, the seller will transfer the property under a Special Warranty Deed. Should not be the case, the title will be passed using a quitclaim deed. Remember this while deciding how ready you are to buy the house. - Eviction and Occupancy:
The buyer is in charge of managing any eviction or legal procedures needed to acquire the house following purchase; the property is inhabited right now.
What You Need to Know Before Bidding
If you’re serious about bidding on this property, you’ll need to:
- Your finances are in order; you have pre-qualification from a lender or proof of cash.
- Know that you will not be able to visit the property before to making a purchase, hence you must carefully consider whether the possible risk is justified.
- Should the property still be occupied, be ready for extra expenses like utility transfers, closing fees, and maybe eviction costs.
Is This Property Right for You?
For a buyer who can manage the risks involved in buying an auctioned house, the 689 Steege Hill Rd property is ideal. For those seeking a house to invest in, flip, or restore, it might be a fantastic opportunity. Though you won’t be allowed to see the property, the unknown state of the house and the present residents mean some hazards. This could not be the ideal choice if you search for a more safe, move-in ready house.
Before you decide, consider the following:
- Do the risks involved in purchasing a “as-is” home suit you?
- Are you able to manage the cash-only transaction and closing fees with your financial situation?
- Are you ready to handle the obligations connected to occupied real estate?
If you answer “yes” to these questions, this property could be a great opportunity for you to pursue.
Particularly for those looking for a fixer-upper or investment property, the property at 689 Steege Hill Rd, Corning, NY, offers an interesting prospect for possible buyers.
The auction process is straightforward, with no buyer’s premium, but the property is being sold as-is, and there are several important factors to consider, such as the cash-only requirement, possible repair costs, and occupancy issues.
If you are sure you can meet these demands, it could be a fantastic opportunity to buy a house for maybe less than its estimated value.
You Must Visit :- Schott Auction Gallery