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LAND AUCTION - 63+/- ACRES OFFERED IN 3 TRACTS IN TULSA COUNTY, OKLAHOMA

Tulsa, Oklahoma - Tulsa County

Owner: Janowski Trust Wed, Jun 20, 2018

SOLD FOR $436,800

• 63+/- Acres offered in 3 Tracts • 1.5 miles North of Tulsa Hills Shopping Center • Water and Sewer Lines Through & Adjacent to Property • RM-1, RS-3 and RD Zonings • Frontage Along S. Union Ave. • Live Water Creek • Mature Timber • Outstanding Potential Development Land Near the Intersection of • 1-44 and Hwy 75 in Tulsa, OK • Online Bidding Available


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Wednesday, May 30 from 12pm - 2pm
Monday, June 11 from 10am - 12pm

Meet a Schrader Representative at the Home2 Suites by Hilton, 6910 S Olympia Ave, Tulsa, OK 74132 for detailed property information and to learn about the auction process.

PROPERTY LOCATION

Take the West 61st Street South Exit off Hwy 75 and turn east onto 61st Street. Turn right on S Union Avenue and follow for approximately 0.5 mile and the property will begin on your left.

AUCTION LOCATION

Held at Home2 Suites by Hilton, 6910 S Olympia Ave, Tulsa, OK 74132. Take the West 71st Street South Exit off Hwy 75 and turn east on 71st Street. Take the first left onto S. Olympia Ave and the hotel will be on your left.

PROPERTY DESCRIPTION

The subject property is located southwest of the Interstate 44 and State Highway 75 interchange, along S Union Avenue. Land is comprised of 63+/- acres of heavily wooded, mature Oak and Hickory forest with a live water creek, which dissects the property. The property has 3 separate zoning classifications: Residential Multi-Family RM-1, Residential Single Family High Density RS-3 and Residential Duplex RD. Potential utility access is promising, with both water and sewer lines adjacent to the property. The land is being offered in 3 Tracts from 12 to 32 acres, prospective Buyers have the option to acquire the whole property or the combination of parcels that best fit their needs. Call or email for the detailed Bidder Information Booklet.

TRACT DESCRIPTIONS

Tract 1: 19± ac with frontage along S. Union Avenue, property is currently zoned RS-3. Comprised of mature timber and slopes into a live water creek along the west boundary of the property. Sewer lines along south boundary and running along west side of tract.

Tract 2: 12± ac with frontage along S. Union Avenue, property is currently zoned to a combination of RM-1 and RS-3. Comprised of mature timber which slopes into a live water creek on the north and west sides of the parcel.

Tract 3: 32± ac with access via West 53rd Street on the west side of the property. This parcel is a combination of RS-3 and RD zoning and is comprised of mature timber that gently slopes to the east. Existing sewer lines on west boundary and running through east side of parcel.

TRACT MAP(S)

AREA MAP(S)

PROCEDURE: Tracts 1 through 3 will be offered in individual tracts, in any combination of these tracts, or as a total unit per auction date and time. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 4% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall be obligated only to convey a merchantable title by Special Warranty Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession of the land shall be at closing.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Any sale will include mineral rights, if any, owned by Seller. However, no warranty or representation is made as to the existence of extensions of any such mineral rights.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance. Closing prices shall be adjusted to reflect any difference between advertised and surveyed acres, if a new survey is determined to be necessary by the Seller.

ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.