|General Information: INVESTMENT OPPORTUNITY!
SANDHILL MOBILE HOME PARK
Consisting of 17 acres +/- with 34 Rented Lots
Location: 22159 Shop Dr., Georgetown, DE 19947. From The Circle in Georgetown, DE travel 1.1 miles on Rt. 9 to the first stop light. Turn left onto Sand hill Road and travel 0.7 miles. Mobile Home Park will be on right. (Signs Posted)
Saturday, July 24th @ 11:00 A.M.
Inspection: Auction staff will be on-site Thursday, July 15th from 4:30 p.m. until 5:30 p.m. & Sunday, July 18th from 2:00 p.m. until 3:30 p.m. or by appointment. Contact auction company for appointment.
Check our website for photos & complete terms
This Property is identified on the Sussex County Tax Map as parcel 1-35 15.00 35.01 and is believed to contain approx. 17 acres of land more or less. The Property is improved with 3-bay work/shop metal shed with electric, cement floor, & roll-up doors. The Property is also improved with a metal shed that currently serves as an office. This building has HVAC, electric roll-up door, kitchen area, bathroom, & receptionist area. Both buildings are like new and have been very well maintained.
This Property operates as Sandhill Mobile Home Park and currently has 24 incoming producing lots with Seller-owned mobile homes located on these lots. The Property also has 10 incoming producing lots with tenant-owned mobile homes located on these lots. There is additional, unimproved land in the back portion of the Property for the possible expansion to include up to 30 additional mobile home lots. Site Plan & Permits were obtained several years ago for this proposed expansion, but since have expired. This information is not intended as a representation or warranty of a right to such expansion, which would be the sole responsibility of the Buyer. The Property currently has paved and stone roads and 3 monitoring wells with permits all located within the existing park area. In 2009, this park grossed over $201,000.00 of rental income.
Information on rental income, lot information, well permits and expenses can be obtained by contacting the auction company. Overall, this Property is in good condition and generates great income. A great investment property you will not want to miss!
Terms: $75,000.00 down payment on the day of auction in the form of Cash or Certified Check. Settlement to occur within 45 days when a marketable deed will be given. Buyer & Seller will equally split all State & County Transfer Taxes. Buyer to pay the cost of preparing the deed and any other costs of settlement. 3% Buyer’s Premium. Broker Participation is invited. Failure to comply with the terms of sale, will cause the down payment paid on the day of auction to be forfeited and the Property will be re-sold at the Buyer’s expense. Seller has the right to accept or reject any or all bids, but it is Seller’s intent to sell the Property. Contact auction company for complete details.
THE ABOVE TERMS ARE EXPRESSLY SUBJECT TO: the Sandhill Homeowners’ Association, Inc.’s (“Association”) right to purchase the Property pursuant to 25 Del. C. § 7026(i)(6) within 7 days after the date of the Auction for 1% higher than the Buyer’s successful bid, with the same terms and conditions.
If the Association:
• does not participate in the auction process; or
• fails to respond to the owner within 7 days of the auction; or
• fails to formalize a written contract within 20 calendar days of the date of the auction; or
• fails to complete the change of ownership within 90 calendar days;
then the Buyer will be notified and must proceed to settlement within 45 days, all other Terms being the same as set forth above. If the Association completes the change of ownership, Buyer’s down payment will be returned within 7 days of such change of ownership.