• SEALED BID • 6.56+/- Acres • Traffic Counts of 16,800 to 18,500 on Elm Pl • 4,160 Households with 1 Mile • Intersection of 111th St. and Elm Pl. • Fully Developed Corner
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IMPORTANT SEALED BID REAL ESTATE AUCTION - 6.56+/- ACRES IN BROKEN ARROW, OKLAHOMA
Broken Arrow, Tulsa County, OklahomaTue, Oct 23, 2018
AUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Monday, September 24 from 1-3 PM
Tuesday, October 9 from 1-3 PM
Directions: Take the S Elm Place exit off the Creek Turnpike and travel north for approx. 0.6 mile, property will be on your left.
6.56+/- of development land located at the intersection of 111th St South and Elm Pl in Broken Arrow, Oklahoma. The property has frontage on both Elm Pl and 111th St. The intersection is fully developed including: Walgreens, QuikTrip, Class A Multi-Family development and a MidFirst Bank location. The property has excellent potential for a variety of retail, office or other uses given the location and consumer demographics of the area.
Download the Bidder Information Booklet to review bidding instructions, survey, title work, conceptual site plans, demographic analysis, utility mapping and other important information.
PROCEDURE: The property will be offered via a Sealed Bid Auction. 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 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. Property will be sold AS-IS.
CLOSING: 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 property shall be at closing.
REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.
MINERALS: Any minerals owned by Seller shall be conveyed with the Property; however, no representation or warranty to the extent of mineral ownership, if any, is made by Seller.
SURVEY: Available for review in the Bidder Information Booklet.
ACREAGE AND TRACTS: All acreages are approximate and have been estimated based on current legal descriptions and assessor tax information, subject to update upon completion of pending survey.
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 check website routinely prior to the scheduled bid submission deadline to inspect any changes or additions to the property information.