AUCTION IS OVER

TOTAL SOLD: $213,200

Tract(s): 1-3

@ $213,200

($7,106/acre)

• 30+/- Acres offered in 3 Tracts • Intersection of N. Peoria & 56th St. • Desirable Corner Lot • Frontage on 56th St. and Peoria • Level, Open Topography • Online Bidding Available

OPEN HOUSE/INSPECTION DATES

Monday, July 2 from 4-6pm
Monday, July 23 from 9-11am

PROPERTY LOCATION

Take the 56th Street North Exit off Highway 75 and travel west for 1.7 miles, property will begin on your right.

AUCTION LOCATION

Tulsa Tech Peoria Campus, 3850 N Peoria Ave, Tulsa, OK 74106
Directions to Auction: Take the Peoria Avenue Exit off of Gilcrease Expressway and travel north on Peoria for 1 mile, Tulsa Tech will be on your left.

PROPERTY DESCRIPTION

30+/- acres located offered in 3 tracts, which range in size from 5+/- to 19+/- acres. The property is located on a desirable corner with potential for development, has a level topography and is mostly open hay meadow. There are currently two successful retail fireworks stands on the property, as well as two homes in need of some repair.

TRACT DESCRIPTIONS

Tract 1: 6± ac located at the intersection of N. Peoria Avenue and 56th Street North, excellent potential development site, which is zoned CS.

Tract 2: 19± ac with frontage on both N. Peoria Avenue and 56th Street North, mostly open hay meadow that would make an excellent home site or investment property.

Tract 3: 5± ac with frontage on N. Peoria Avenue. This tract is partially zoned CH with the balance zoned Agricultural.

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 targeted closing date will be approximately 30 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. Pre-Closing access for farming activities is available with execution of the pre-closing access agreement.

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

MINERALS: All minerals owned by Seller shall be conveyed, however no warranty or representation is made to the extent of mineral ownership, if any.

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.

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

Auction Brochure

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