REAL ESTATE AUCTION
49 Properties
Sale Site: the ballroom of the Castle Lodge motel
(formerly Jumer's and then subsequently the Radisson Hotel, now The Castle Lodge)
at 117 N. Western Avenue, Peoria, Illinois
Thursday, October 29, at 1:00 p.m.


Download the Auction Brochure to see the listing of properties offered. 
 

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Multiple property real estate auctions offer the investor a unique opportunity for one-stop-shopping for income real estate. Many of these homes have tenants in place and are producing income. Some homes could be a good family or starter home, subject to the rights of the parties in possession.

Inspection and Preview of Properties: Many of the homes being offered are occupied by tenants. The occupied homes will NOT be open for inspection, but you are welcome to visit the property and inspect the exterior of the dwelling. Many times, just knocking on the door and asking the tenant if there is anything wrong with the house can be very informative. The vacant homes may be inspected anytime at your convenience. Contact the Auctioneer at (309) 686-0558 to obtain the keybox code for this auction for the vacant units.

Terms of Sale on all Properties:  A 10% earnest money deposit with a minimum of $2,000 will be required on each property purchased. The balance will be due in cash or guaranteed funds at closing within 45 days of acceptance. Title will be conveyed by deed subject to all restrictions, reservations, easements of record, and zoning laws, but free of encumbrance except for taxes for 2009 and subsequent to be assumed by the buyer. Seller will furnish title insurance in the amount of the purchase price. Rentals will be prorated to date of closing. Tenant’s deposits will be credited to the Buyer at closing. Possession will be at closing subject to the rights of parties in possession. The successful bidders will enter into a contract of purchase at the auction sale. A copy of the sales contract will be posted on the premises for review before the sale along with Auctioneer’s customary terms of sale.  A 10% Buyer Fee will be added to the bid price to arrive at the sales contract price. Each sale is subject to the confirmation of the Seller. The properties are being sold in an "as is" condition and with all faults known and unknown and no future expenditures by Seller. Property details herein are as provided to us and represented to us by the Sellers. Any announcements made day of sale will take precedence over prior advertising and printed matter. The sales contract is NOT contingent upon the buyer being able to obtain financing. If you will need financing, be sure to obtain a pre-approval from your lender before you attend this auction.

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