REAL ESTATE AUCTION
$950,000 Opening Bid
123 So. Lake Dr.
Lakewood, NJ 08071
Spacious +/- 8,287 Sq. Ft. Two story home with attic, decks, & lake views situated on .379 acre corner lot. Comes with “D” variance approval & design plans to allow for a 2 family residence.
Bidding Live: Tuesday, November 21, 2023 at 1:00PM
Sunday, Nov. 5, 2023, 12PM to 2PM,
Sunday, Nov. 12, 2023, 12PM to 2PM,
Wednesday, Nov. 15, 2023, 12PM to 2PM, &
Sunday, Nov. 19, 2023 12PM to 2PM
Lakewood, NJ 08071
Register to Bid on Morning of Auction – Tuesday, November 21, 2023 from 11am to 1:00pm
Property to be Auctioned: The subject property is a 2 story single family home on a corner lot approx. .379 acres. This +/- 8,287 sq. ft. home consists of multiple bedrooms, multiple bathrooms, large sitting & living rooms, attic, decks, w/ Spanish tile styled roof and large picture windows & doors throughout, with panoramic lake views of Lake Carasaljo. The house is in the process of interior construction and development. Interior is framed w/ roughed in plumbing and roughed in Electric. You can customize & finish the home to your taste – make it your dream house!
Taxes: The 2022 total property taxes were $8,206.07. Total assessment is $359,600. Land at $259,600 and improvements at $100,000. See property tax statement under ‘documents’ tab.
Land & Zoning: 123 So. Lake Dr. Lakewood, NJ: Block 15, Lots 4 & 5. It’s a .379 acre +/- 16,500 sq. ft. lot. R-12 Residential Zone w/ “D” Variance document with Township Resolution of Approval allowing for a 2 family residence, along with design plans to be available at Open Houses and on our website under ‘documents’ tab.
Utilities: Natural Gas & Electric on Site, Public Sewer & Public Water on Site
Terms, General Information & Conditions: Upon the conclusion of the auction the winning bidder is required to sign the prepared real estate contract and post a full 10% down payment. See complete terms & conditions, and real estate contract under ‘documents’ tab. 6% Buyer’s Premium.
Auctioneer’s Note: Brokers Welcome, Protected, and Invited to Participate. See Broker sign up sheet under ‘Documents’ tab above.
PETER COSTANZO AUCTIONEERS
TERMS AND CONDITIONS
123 So. Lake Dr. – Lakewood, NJ 08071
- The real property is to be sold at auction to the highest bidder, on TUESDAY NOVEMBER 21, 2023 AT 1:00 PM. The property will be offered with a nominal opening bid of $950,000 with the final price subject to acceptance & approval by the seller. Notice of acceptance shall be given within 48 hours, unless additional time is required by the seller. Bidding will be made in increments determined by the auctioneer. A 6% buyer’s premium will be added to high bid price, the total of the high bid plus the buyer’s premium will become the purchase price.
- Bidding: In order to register to bid you must post a $50,000.00 deposit in certified or bank check made out to Peter Costanzo Auctioneers Trust Account. At the conclusion of the bidding a complete 10% down payment is required along with a signed purchase contract from the winning bidder. The balance of the 10% down payment may be made in personal or business check. Property sold “AS IS” free and clear of all liens, clear title guaranteed.
- The balance of the purchase price, together with the net amount of any adjustments and changes shall be paid by certified check, cashier’s check or treasurer’s check at time of closing. Closing shall take place within 35 days after the auction date. Liens if any shall be paid by the seller at closing. Time is of the essence.
- Title to said property shall be conveyed by Bargain & Sale Deed which shall be delivered in recordable form. The purchaser shall pay for the recording of the deed.
- Real Estate Contract is not subject to an attorney review and is legally binding upon signing. There are no contingencies whatsoever in regards to the contract. Contract available for review on the Auctioneers website, under “documents”. Property may be withdrawn from the auction without notice.
- If the purchaser fails to appear at the closing of title or shall appear and refuses to close at the time and place fixed by the parties or shall fail to comply with any of the terms and conditions of the purchase contract the Auctioneer at his option may declare the purchaser in default and retain all money paid as liquidated damages.
- In the event the owner is unable to convey title, the successful bidder shall be entitled only to the return of his/her deposit and the parties shall be mutually released from all of their obligations under the contract of sale.
- The purchaser shall be required to accept the property in its “AS IS” condition on the date of the auction. Purchaser is responsible for certificate of occupancy and any other required inspections, fees or permits.
- Real Estate taxes shall be apportioned at the closing of title.
- Oral statements made at or before the time of the auction and statements made in any sales brochures, sale catalogue or advertisements in connection with the sale pertaining to location, zoning, taxes, condition, titles, surveys, etc. of the property are for information only and should be verified by the purchasers. Purchaser will be bound by any statement of facts disclosed in current tax maps, zoning maps and ordinances, building restrictions, surveys and other data pertaining to the property.
- Seller has neither employed nor hired any Agent, Auctioneer or salesmen except for Peter Costanzo Auctioneers, Peter Costanzo, Broker of Record, NJ Lic. 8900421
- This sale is for the real estate only. It does not include any personal property whatsoever. However, any personal property left and remaining after the closing, becomes the sole responsibility of the purchaser.