A real estate auction in Trinidad will take place next week on Wednesday, February 27 at noon. If you’ve been priced out of the market, want to design your own new home, or are a real estate investor, this might be the opportunity for you.
The real estate auction in Trinidad is for an end unit townhouse, so you’ll have three sides with windows, instead of just two. The property is located at 1408 Morse Street NE and bids start at $250,000.
The majority of the home is brick with siding on the back third. It is a three level colonial townhouse built in 1924 with a covered porch in the front and an attached garage with private driveway in the back. The property is being sold “as-is,” which is a state of disrepair at the moment with missing windows, a cracked driveway, and an unfinished basement. But the 1,504 square foot home has potential for three bedrooms and two and a half baths after a full renovation. The proposed plans feature a walk in closet in the master bedroom with his and her sinks, a tub, and shower in the master bath.
If you want to look before buying, your only opportunity is 60 minutes before the auction. If you intend buy, you must also bring a $20,000 earnest money deposit to the auction in cash, a certified check, or a cashier’s check. If you are the lucky auction winner, you must have 10% of the purchase price on hand to pay within three business days. That price will include a 6% buyer’s premium added to the winning bid. The final closing will occur 45 days after the auction.
Good luck to those of you who have your eyes fixed on this upcoming real estate auction in Trinidad!