Looking for a property investment opportunity in Philadelphia, PA? 1811 West Nedro Avenue could be your chance! This three-bedroom, one-bathroom home with 1,868 square feet of space will soon be available in a Second Chance auction. If you’re ready for a cash-only transaction and understand the as-is sale terms, this could be a great deal for you.
Property Overview
Basic Information
- Address: 1811 West Nedro Avenue, Philadelphia, PA 19141
- Type: Residential (Single-Family)
- Year Built: 1925
- Size: 1,868 square feet
- Bedrooms: 3
- Bathrooms: 1
Auction Details
- Opening Bid: $110,000
- Auction Dates:
- Starts: Monday, January 20, 2025, at 9:00 AM CT
- Ends: Wednesday, January 22, 2025, at 10:45 AM CT
- Pre-Auction Offers: Accepted with a signed contract and earnest money.
Important Notes
- Cash-Only Transaction: Buyers must pay in full without financing. Proof of funds is required within 24 hours of the auction.
- No Inspection Access: The property is occupied, and no public inspection will be allowed. Avoid disturbing the current occupants.
- Closing Timeline: Buyers must close the purchase within 30 days of the seller’s acceptance of the offer.
Buyer Responsibilities
- Escrow and Closing Fees: Ranging from $750 to $3,000, paid by the buyer.
- Eviction or Lease Management: The buyer must handle the occupancy situation after purchase.
- Utilities: The buyer assumes responsibility for utility transfer and payment post-closing.
- Occupancy Certification: Required by the City of Philadelphia, obtained at the buyer’s expense.
Key Considerations
This property is sold as-is, meaning the buyer accepts all risks associated with the current condition. Here are the major points to keep in mind:
- The home may have unknown defects or hazards.
- Utility services are currently off and will remain off until after closing.
- Buyers must cover any costs related to certificates, inspections, or repairs required by the city or county.
Why This Auction is Unique
This property is part of a Second Chance Home Auction, meaning it did not sell at a foreclosure auction. During this period, the seller offers the home at a discounted price below its appraised value. It’s a rare opportunity to buy a home without a buyer’s premium or auction service fee.
1811 West Nedro Avenue presents a compelling investment opportunity in Philadelphia. Whether you’re an experienced investor or looking for a new project, this as-is property auction allows you to purchase below market value. Remember, it’s a cash-only deal, and you’ll need to act fast to meet all the requirements. Don’t miss your chance to bid on this home starting January 20, 2025!
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