|General Information: PUBLIC AUCTION
VALUABLE REAL ESTATE CONSISTING OF 7+/- ACRES
IN LAUREL, DELAWARE
Location: Iona Avenue, Laurel, Delaware 19956. From the intersection of U.S. Rt. 13 and Del. Rt. 24 in Laurel, travel west on Rt. 24 (4th Street) for approx. 0.5 mile into Laurel. The property will be on the left (behind the old Laurel Wesleyan Church). Sign Posted.
FRIDAY, NOVEMBER 2, 2007
Preview: Tuesday, October 23 from 4:00 to 5:00 P.M.
Tuesday, October 30 from 4:00 to 5:00 P.M.
The property consists of 4 adjacent parcels of undeveloped land in the town limits of Laurel (Zoned R-1) that comprise 6.908+/- Acres. The parcels are identified on the Sussex County Tax Map in District 3-32 on Map 1.07 as Parcels 294.01, 312.00, 314.00, & 315.00. The property has approx. 1,085 ft. of frontage along both sides of Iona Avenue (unimproved road), approx. 166 ft. of frontage along the southerly side of Orange Street (unimproved road), and approx. 303 ft. of frontage along both sides of Fuller Street (unimproved road).
Parcel 315.00 consists of 2.1852+/- Acres and is situated behind the old Laurel Wesleyan Church. The parcel has approx. 166 ft. of frontage along the southerly side of Orange Street, approx. 437 ft. of frontage along the easterly side of Iona Avenue, and approx. 235 ft. of frontage along the northerly side of Fuller Street.
Parcel 314.00 consists of 0.7621+/- Acre and is situated to the west of Parcel 315.00. The parcel has approx. 167 ft. of frontage along the westerly side of Iona Avenue.
Parcel 312.00 consists of 0.7747+/- Acre and is situated along the southerly boundary of Parcel 314.00. The parcel has approx. 204 ft. of frontage along the westerly side of Iona Avenue.
Parcel 294.01 consists of 3.186+/- Acres and comprises the southerly portion of the entire property. The parcel is situated along the westerly boundary of Parcel 312.00 and has approx. 112 ft. of frontage along the westerly side and 172 ft. of frontage along the easterly side of Iona Avenue. The parcel also has approx. 68 ft. of frontage along the southerly side of Fuller Street.
Iona Avenue, Orange Street, and Fuller Street are unimproved roads in the town of Laurel with access to 4th & King Streets. These roads are recorded on the Sussex County Tax Map.
Note: This is a large tract of unimproved land in Laurel’s town limits and all 4 parcels will be sold together. Visit our website at www.onealsauction.com for a Property Information Packet with survey, tax maps, aerials, & conceptual sketches. Parcel 311.00 is NOT included in the sale.
Terms: $20,000.00 down payment in the form of Cash, Certified Check, or Cashier's Check made payable to Jos. C. O'Neal, Inc.. Balance to be paid within 45 days when a good and marketable deed will be given. Credit portion to bear interest at the rate of 0% per annum from the date of sale to date of settlement, and to be secured to the satisfaction of the undersigned, or to pay the full purchase price at the time of sale, at the option of the Purchaser. If not settled within 45 days, interest shall be charged at the rate of 10% per annum from the date of sale to the date of settlement. In the event settlement does not occur within 65 days of the sale, the property shall be considered forfeited and resold at the expense and risk of the Purchaser. Time is of the essence. State, County, and Municipal taxes and assessments to be adjusted as of the date of the sale. Purchaser & Seller will equally share all State & County transfer taxes. All title papers, documentary stamps, recording costs and any and all other costs which shall be deemed necessary to transfer the title of the property and put the deed on record shall be at the expense of the Purchaser. In the event a good & marketable title cannot be delivered the Seller(s) shall have 90 days to correct the flaw. If the flaw is not corrected the only recourse of the Purchaser shall be the return of the down payment and the Seller and the Auctioneer shall be held harmless. If the improvements on the property were built before 1976, they may contain lead paint. Purchaser may conduct a lead paint test at their expense prior to the sale. This property is being sold in "AS IS" condition. Neither the Sellers nor the Auctioneer shall accept any responsibility for any Municipal, State or Federal Environmental Violations. To our knowledge none exist at this time. A 4% Buyer’s Premium will be charged on the final selling price. Seller reserves the right to accept or reject any or all bids, but it is their intent to sell said property. Broker Participation invited. Brokers must have clients registered 24 hours prior to auction. Contact our office for complete details.